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Receivables | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
Receivables | Receivables As of December 31, 2023, 33% of our net trade receivables were from customers in the United States and 9% were from customers in Mexico. As of December 31, 2022, 38% of our net trade receivables were from customers in the United States and 11% were from customers in Mexico. Receivables from our primary customer in Mexico accounted for approximately 6% and 9% of our total receivables as of December 31, 2023 and December 31, 2022, respectively. While we have experienced payment delays in Mexico, these amounts are not in dispute and we have not historically had, and we do not expect, any material write-offs due to collectability from this customer. No other country or single customer accounted for more than 10% of our receivables at those dates. Although the market environment has been improving, we continue to have risk of delayed customer payments and payment defaults associated with customer liquidity issues. We routinely monitor the financial stability of our customers and employ an extensive process to evaluate the collectability of outstanding receivables. This process, which involves judgment and estimates, includes analysis of our customers’ historical time to pay, financial condition and various financial metrics, debt structure, credit ratings, and production profile, as well as political and economic factors in countries of operations and other customer-specific factors. The table below presents a rollforward of our allowance for credit losses for 2021, 2022 and 2023.
Millions of dollars | Balance at Beginning of Period | Provision (a) | Other (b) | Balance at End of Period (c)
Year ended December 31, 2021 | $ | 824 |  | $ | (19) |  | $ | (51) |  | $ | 754 |
Year ended December 31, 2022 | 754 | 2 | (25) |  | 731
Year ended December 31, 2023 | 731 | 22 | (11) |  | 742
(a) | Represents increases to allowance for credit losses charged to costs and expenses, net of recoveries.
(b) | Includes write-offs, balance sheet reclassifications, and other activity.
(c) | The allowance for credit losses in all years is primarily comprised of a full reserve against accounts receivable with our primary customer in Venezuela.

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- Definition The entire disclosure for valuation and qualifying accounts and reserves. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 09 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-09) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-4 + Details
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