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SCHEDULE II -VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2024

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS


	For the years ended
	December 31, 2024, 2023 and 2022
	Balance at		Charged to		Net			Balance
	Beginning		Costs and		(Deductions)			at End of
(in thousands)	of Period		Expenses		Recoveries/Increases			Period
Year ended December 31, 2024
Credit loss allowance for accounts receivable	$	7,109	$	1,428	$	(631)	⁽¹⁾	$	7,906
Deferred tax asset valuation allowance	$	1,591	$	—	$	(1,200)	⁽²⁾	$	391
Reserve for obsolete or slow moving inventory	$	15,925	$	3,449	$	(4,014)	⁽³⁾	$	15,360
Year ended December 31, 2023
Credit loss allowance for accounts receivable	$	7,078	$	2,656	$	(2,625)	⁽¹⁾	$	7,109
Deferred tax asset valuation allowance	$	990	$	601	$	—	⁽²⁾	$	1,591
Reserve for obsolete or slow moving inventory	$	15,374	$	3,063	$	(2,512)	⁽³⁾	$	15,925
Year ended December 31, 2022
Credit loss allowance for accounts receivable	$	6,765	$	2,029	$	(1,716)	⁽¹⁾	$	7,078
Deferred tax asset valuation allowance	$	865	$	—	$	125	⁽²⁾	$	990
Reserve for obsolete or slow moving inventory	$	13,236	$	4,080	$	(1,942)	⁽³⁾	$	15,374

(1)	Net (deductions) recoveries in the credit loss allowance principally reflect the write-off of previously reserved accounts net of recoveries.

(2)

The valuation allowance for deferred tax assets is increased or decreased each year to reflect the state and foreign net operating losses and capital losses that management believes will not be utilized before they expire. Change in valuation allowance for the year ended December 31, 2024, resulted primarily from a tax planning strategy implemented in a certain foreign jurisdiction.

(3)	Net (deductions) recoveries in the reserve for obsolete or slow-moving inventory principally reflect the write-off and/or disposal of previously reserved inventory.