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Trade Accounts Receivable | 9 Months Ended
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Sep. 30, 2024
Trade Accounts Receivable [Abstract] |
Trade Accounts Receivable |
3. | Trade Accounts Receivable
Trade accounts receivables are recorded at their face amount, less an allowance for expected losses on doubtful accounts. The allowance for doubtful accounts is calculated based on customer-specific analysis and an aging methodology using historical loss information. The Company believes historical loss information is a reasonable basis for expected credit losses as the Company’s historical credit loss experience correlates with its customer delinquency status. This information is also adjusted for any known current economic conditions. Forecasted economic conditions have not had a significant impact on the current credit loss estimate due to the short-term nature of the Company’s customer receivables; however, the Company will continue to monitor and evaluate as economic conditions change. Additionally, as the Company only has one portfolio segment, there are not different risks between portfolios. Specific accounts are written off against the allowance for doubtful accounts when the receivable is deemed no longer collectible. The following table summarizes the changes in the allowance for doubtful accounts during the three and nine month periods ended September 30, 2024 and 2023:
(In thousands) Three Months Ended September 30, 2024 |  | Allowance for Doubtful Accounts |
Balance at June 30, 2024 |  | $ | 4,275 |
Provision for expected credit losses |  |  | 410 |
Accounts written off |  |  | (56 | )
Translation and other activity |  |  | 71 |
Balance at September 30, 2024 |  | $ | 4,700 |
(In thousands) Three Months Ended September 30, 2023 |  | Allowance for Doubtful Accounts |
Balance at June 30, 2023 |  | $ | 4,293 |
Provision for expected credit losses |  |  | 13 |
Accounts written off |  |  | (244 | )
Translation and other activity |  |  | (76 | )
Balance at September 30, 2023 |  | $ | 3,986 |
(In thousands) Nine Months Ended September 30, 2024 |  | Allowance for Doubtful Accounts |
Balance at December 31, 2023 |  | $ | 4,373 |
Provision for expected credit losses |  |  | 1,213 |
Accounts written off |  |  | (808 | )
Translation and other activity |  |  | (78 | )
Balance at September 30, 2024 |  | $ | 4,700 |
(In thousands) Nine Months Ended September 30, 2023 |  | Allowance for Doubtful Accounts |
Balance at December 31, 2022 |  | $ | 4,436 |
Provision for expected credit losses |  |  | 504 |
Accounts written off |  |  | (1,051 | )
Translation and other activity |  |  | 97 |
Balance at September 30, 2023 |  | $ | 3,986 |

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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- References No definition available. + Details
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