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Note 4 - Receivables and Allowance for Credit Losses | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] |
(4) | Receivables and Allowance for Credit Losses
Receivables consist of the following (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Accounts receivable–trade |  | $ | 61,910 |  |  | $ | 65,176 |
Less allowance for credit losses |  |  | (660 | ) |  |  | (727 | )
Receivables, net |  | $ | 61,250 |  |  | $ | 64,449 |
The Company is exposed to credit losses primarily through sales of products and services. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on the aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written-off when determined to be uncollectible. Estimates based on an assessment of anticipated payment and all other historical, current, and future information that is reasonably available are used to determine the allowance. The following table provides a roll-forward of the allowance for credit losses that is deducted from accounts receivable to present the net amount expected to be collected for the three months ended March 31, 2024 and 2023 (in thousands):
|  | Allowance for Credit Losses |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Allowance - beginning of period |  | $ | 727 |  |  | $ | 733 |
Adjustment for expected credit losses |  |  | (51 | ) |  |  | (6 | )
Amounts written off against the allowance |  |  | (16 | ) |  |  | (1 | )
Allowance - end of period |  | $ | 660 |  |  | $ | 726 |

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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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