

5.	Reserves for Credit Losses

In general, the Company’s trade receivables provide for payment terms of 30 days or less. The portfolio of receivables consists of a large group of smaller balance homogeneous amounts that are collectively evaluated for impairment. No customer made up more than ten percent of the outstanding receivables at September 30, 2015.

Receivables are generally written off when they are 150 days past due or upon declaration of bankruptcy by the customer. The reserve for credit losses is calculated by an analytic model that also takes into account other factors, such as the actual charge-offs for the preceding reporting periods, expected charge-offs and recoveries for the subsequent reporting periods, a review of accounts receivable balances which become past due, changes in customer payment patterns, known fraudulent activity in the portfolio, as well as leading economic and market indicators.

As of September 30, 2015, approximately 98 percent of the outstanding balance of total trade accounts receivable was less than 60 days past due. As of September 30, 2014, approximately 99 percent of the total trade accounts receivable outstanding balance was less than 60 days past due.

The following table presents changes in reserves for credit losses related to accounts receivable:



	Nine months ended September 30,
	2015			2014
Balance, beginning of period	$	13,919		$	10,396
Provision for credit losses	14,532			23,154
Charge-offs	(20,667		)	(25,776		)
Recoveries of amounts previously charged-off	3,965			5,730
Currency translation	(214		)	(58		)
Balance, end of period	$	11,535		$	13,446