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Note 9 - Allowance for Credit Losses | 6 Months Ended
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Jun. 30, 2020
Notes to Financial Statements |
Allowance for Credit Losses [Text Block] | 9. Allowance for Credit Losses The Company's trade and other receivables primarily arise from the sale of our products to independent residential dealers, industrial distributors and dealers, national and regional retailers, electrical/HVAC/solar wholesalers, e-commerce partners, equipment rental companies, equipment distributors, solar installers, and certain end users with payment terms generally ranging from 30 to 60 days. The Company evaluates the credit risk of a customer when extending credit based on a combination of various financial and qualitative factors that may affect the customers' ability to pay. These factors include the customer's financial condition, past payment experience, and credit bureau information. The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables considering current market conditions and estimates for supportable forecasts when appropriate. The Company measures expected credit losses on its trade receivables on an entity by entity basis. The estimate of expected credit losses considers a historical loss experience rate that is adjusted for delinquency trends, collection experience, and/or economic risk where appropriate based on current conditions. Additionally, management develops a specific allowance for trade receivables known to have a high risk of expected future credit loss. The Company has historically experienced immaterial write-offs given the nature of the customers that receive credit. In addition, the Company holds a credit insurance plan that covers the risk of loss up to specified amounts on certain trade receivables. As of June 30, 2020, the Company had gross receivables of $334,034 and an allowance for credit losses of $11,097. The following is a tabular reconciliation of the Company’s allowance for credit losses:
|  | Three Months Ended June 30, 2020 |  |  | Six Months Ended June 30, 2020 |
Balance at beginning of period |  | $ | 7,668 |  |  | $ | 6,968 |
Adoption of ASU 2016-13 |  |  | - |  |  |  | 1,147 |
Provision for credit losses |  |  | 3,513 |  |  |  | 3,830 |
Charge-offs |  |  | (116 | ) |  |  | (279 | )
Currency translation |  |  | 32 |  |  |  | (569 | )
Balance at end of period |  | $ | 11,097 |  |  | $ | 11,097 |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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