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Trade Accounts Receivable

9 Months Ended

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

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- References

No definition available.

+ Details

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