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Accounts Receivable
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
Accounts receivable were comprised of the following:
As of December 31,
(in millions)202420232022
Accounts receivable trade, net$242.8 $234.5 $128.6 
Unbilled receivable9.7 5.7 12.3 
Accounts receivable, net$252.5 $240.2 $140.9 
The percentages of total net accounts receivable trade for customers that represent 10% or more of total net accounts receivable trade were as follows:
As of December 31,

20242023
Distributor A35%35%
Distributor B27%25%
Distributor C15%18%
The following table presents the activity in the allowance for credit losses:
Years Ended December 31,
(in millions)202420232022
Credit losses at beginning of year$2.5 $2.5 $2.7 
Provision for expected credit losses(0.2)2.3 4.2 
Write-offs charged against allowance(0.9)(2.6)(4.9)
Recoveries of amounts previously reserved— 0.3 0.5 
Credit losses at end of year$1.4 $2.5 $2.5 
The Company outsources the insurance claim submissions process to a third-party service provider in one country in which it operates. Under this agreement, the Company transfers certain receivables in exchange for cash in advance. If the third-party service provider is unable to collect on the transferred receivables, the third-party service provider has recourse to the Company. This arrangement is accounted for as a secured borrowing with a pledge of collateral as the transfer does not meet the criteria for sale accounting. Receivables pledged as collateral of $12.2 million are included in accounts receivable on the consolidated balance sheet as of December 31, 2024. Liabilities associated with the secured borrowings of $12.2 million are included within accrued expenses and other current liabilities in the consolidated balance sheet as of December 31, 2024. No amounts were outstanding as of December 31, 2023. The classification within current liabilities is based on the expected resolution of the underlying receivables. The proceeds from and repayments of secured borrowings are reflected as cash flows provided by (used in) financing activities in the consolidated statement of cash flows.