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Accounts receivable, net of allowance for credit losses
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Accounts receivable, net of allowance for credit losses Accounts receivable, net of allowance for credit losses
The following table provides details of the Company’s allowance for credit losses:
Year ended December 31,
202020212022
Opening balance as of January 1$29,969 $27,707 $24,329 
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 3264,185 — — 
Adjusted balance as of January 134,154 27,707 24,329 
Additions due to acquisitions200 — — 
Additions (net), charged to income statement3,307 910 2,096 
Deductions/effect of exchange rate fluctuations(9,954)(4,288)(5,983)
Closing balance$27,707 $24,329 $20,442 
Accounts receivable were $912,071 and $1,015,197, and allowances for credit losses were $24,329 and $20,442, resulting in net accounts receivable balances of $887,742 and $994,755 as of December 31, 2021 and 2022, respectively.
During the year ended December 31, 2022, the Company sold certain accounts receivable amounting to $2,180 and classified $2,341 as assets held for sale relating to a business designated as held for sale, the sale of which was completed after December 31, 2022. See Note 8 for additional information.
The Company has a revolving accounts receivable-based facility of $100,000 permitting it to sell accounts receivable to banks on a non-recourse basis in the ordinary course of business. The aggregate maximum capacity utilized by the Company at any time during the period ended December 31, 2021 and 2022 was $7,053 and $33,030, respectively. The principal amount outstanding against this facility as of December 31, 2021 and 2022 was $0 and $33,030, respectively. The cost of factoring such accounts receivable during the year ended December 31, 2020, 2021 and 2022 was $0, $40 and $601, respectively. Gains or losses on the sales are recorded at the time of transfer of the accounts receivable and are included under "interest income (expense), net" in the Company's consolidated statements of income.