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Credit Losses | 3 Months Ended
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Mar. 31, 2022
Credit Losses |
Credit Losses | ​ 3. Credit Losses ​ The majority of the Company’s accounts receivable are due from distributors of truck equipment and dealers of completed upfit trucks. Credit is extended based on an evaluation of a customer’s financial condition. A receivable is considered past due if payments have not been received within agreed upon invoice terms. Accounts receivable are written off after all collection efforts have been exhausted. The Company takes a security interest in the inventory as collateral for the receivable but often does not have a priority security interest. The Company has short-term accounts receivable at its Work Truck Attachments and Work Truck Solutions segments subject to evaluation for expected credit losses. Expected credit losses are estimated based on the loss-rate and probability of default methods. On a periodic basis, the Company evaluates its accounts receivable and establishes the allowance for credit losses based on specific customer circumstances, past events including collections and write-off history, current conditions, and reasonable forecasts about the future. As of March 31, 2022, the Company had an allowance for credit losses on its trade accounts receivable of $1,530 and $1,412 at its Work Truck Attachments and Work Truck Solutions segments, respectively. As of December 31, 2021, the Company had an allowance for credit losses on its trade accounts receivable of $1,430 and $1,540 at its Work Truck Attachments and Work Truck Solutions segments, respectively. ​ ​ ​ ​ ​ ​ ​ ​ The following table rolls forward the activity related to credit losses for trade accounts receivable at each segment, and on a consolidated basis for the three months ended March 31, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | Additions | ​ | ​ | ​ | ​ | Changes to | ​ | Balance at
​ | ​ | December 31, | ​ | charged to | ​ | Writeoffs | ​ | reserve, net | ​ | March 31,
​ | ​ | 2021 | ​ | earnings | ​ | ​ | ​ | ​ | ​ | ​ | 2022
Three Months Ended March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | ​ | $ | 1,430 | ​ | $ | 100 | ​ | $ | - | ​ | $ | - | ​ | $ | 1,530
Work Truck Solutions | ​ | ​ | 1,540 | ​ | ​ | (25) | ​ | ​ | (105) | ​ | ​ | 2 | ​ | ​ | 1,412
Total | ​ | $ | 2,970 | ​ | $ | 75 | ​ | $ | (105) | ​ | $ | 2 | ​ | $ | 2,942
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | Additions | ​ | ​ | ​ | ​ | Changes to | ​ | Balance at
​ | ​ | December 31, | ​ | charged to | ​ | Writeoffs | ​ | reserve, net | ​ | March 31,
​ | ​ | 2020 | ​ | earnings | ​ | ​ | ​ | ​ | ​ | ​ | 2021
Three Months Ended March 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | ​ | $ | 1,480 | ​ | $ | 100 | ​ | $ | - | ​ | $ | 2 | ​ | $ | 1,582
Work Truck Solutions | ​ | ​ | 1,449 | ​ | ​ | 79 | ​ | ​ | (25) | ​ | ​ | (39) | ​ | ​ | 1,464
Total | ​ | $ | 2,929 | ​ | $ | 179 | ​ | $ | (25) | ​ | $ | (37) | ​ | $ | 3,046
​

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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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- References No definition available. + Details
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