Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Summary of Activity in Allowance for Credit Loss

The following presents the activity in the allowance for credit losses by reportable segment for the three months ended March 31, 2025 and 2024, respectively:


	Commercial			Government			Parking
($ in thousands)	Services(1)			Solutions			Solutions			Total
Balance at January 1, 2025	$	16,038		$	332		$	648		$	17,018
Credit loss expense		6,815			75			1,225			8,115
Write-offs, net of recoveries		(6,179	)		(25	)		(219	)		(6,423	)
Balance at March 31, 2025	$	16,674		$	382		$	1,654		$	18,710

	Commercial			Government			Parking
($ in thousands)	Services(1)			Solutions			Solutions			Total
Balance at January 1, 2024	$	15,661		$	2,426		$	426		$	18,513
Credit loss expense (income)		5,222			106			(81	)		5,247
Write-offs, net of recoveries		(3,174	)		(2	)		(9	)		(3,185	)
Balance at March 31, 2024	$	17,709		$	2,530		$	336		$	20,575

(1)

This primarily consists of receivables from drivers of rental cars for which the Company bills on behalf of its customers. Receivables not collected from drivers within a defined number of days are transferred to customers subject to applicable bad debt sharing agreements. The allowance for credit losses for driver-billed receivables was 82% and 91% of the total Commercial Services allowance for credit losses as of March 31, 2025 and 2024, respectively.

Summary of Components of Gain on Interest Rate Swap

The following details the components of the gain on interest rate swap:


	Three Months Ended March 31,
($ in thousands)	2024
Change in fair value	$	(102	)
Cash receipts		(294	)
Total gain on interest rate swap	$	(396	)