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Composition of Certain Reserves and Allowances | 9 Months Ended
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Sep. 30, 2020
Allowance For Credit Loss [Abstract] |
Composition of Certain Reserves and Allowances |
10. | Composition of Certain Reserves and Allowances
Credit Losses — We regularly evaluate our accounts receivable and contract assets for expected credit losses. Our 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 each customer’s trade accounts receivables. Due to the short-term nature of such receivables, the estimated 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. Our monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of each customer’s financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. We apply a similar methodology towards our current and non-current contract asset balances. However, due to the inherent additional risk associated with a long-term receivable, an additional provision is applied towards contract asset balances that will diminish over time as the contract nears its expiration date. For the three and nine months ended September 30, 2020, we also considered the current and estimated future economic and market conditions resulting from the COVID-19 pandemic in the determination of our estimated credit losses. Estimates are used to determine the expected loss allowances. Such allowances are based on management’s assessment of anticipated payment, taking into account available historical and current information as well as management’s assessment of potential future developments. We are continuously monitoring our assumptions used to determine our expected credit losses, including the impact of COVID-19, which could cause us to record additional material credit losses in future periods. A summary of our allowances for credit losses were as follows (in thousands):
|  | For the three months ended |
|  | September 30, 2020 |
|  |  |  |  |  | Other |
|  | Accounts |  |  | non-current |
|  | Receivable |  |  | assets |
Balance at July 1, 2020 |  | $ | 1,619 |  |  | $ | 250 |
Current-period provision for expected credit losses |  | 127 |  |  |  | 70 |
Write-offs charged against the allowances |  |  | (216 | ) |  | - |
Other and foreign currency |  | 9 |  |  | - |
Balance at September 30, 2020 |  | $ | 1,539 |  |  | $ | 320 |
|  | For the nine months ended |
|  | September 30, 2020 |
|  |  |  |  |  | Other |
|  | Accounts |  |  | non-current |
|  | Receivable |  |  | assets |
Balance at January 1, 2020 |  | $ | 660 |  |  | $ | - |
Cumulative-effect adjustment of ASC 326 adoption |  | 404 |  |  | 75 |
Current-period provision for expected credit losses |  | 803 |  |  | 245 |
Write-offs charged against the allowances |  |  | (411 | ) |  | - |
Other and foreign currency |  | 83 |  |  | - |
Balance at September 30, 2020 |  | $ | 1,539 |  |  | $ | 320 |
Warranties — We provide warranties on parts and labor related to our products. Our warranty terms range from two to five years. Warranty reserves are established for costs that are estimated to be incurred after the sale, delivery and installation of the products under warranty. The warranty reserves are determined based on known product failures, historical experience and other available evidence, and are included in accrued liabilities in our unaudited condensed consolidated balance sheets. Our warranty reserve balance was $2.1 million and $2.5 million, respectively, as of September 30, 2020 and December 31, 2019.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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