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Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2024
Credit Loss [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
In accordance with accounting standards updates ("ASU") No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” the Company evaluates its allowance based on expected losses rather than incurred losses, which is known as the current expected credit loss (“CECL”) model. The
allowance is determined using the loss rate approach and is measured on a collective (pool) basis when similar risk characteristics exist. Where financial instruments do not share risk characteristics, they are evaluated on an individual basis. The allowance is based on relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts.
The changes in the allowance for credit losses during the nine months ended September 30, 2024 were as follows:
(In thousands)
Balance at December 31, 2023$1,536 
Provision for (recovery of)(87)
Write-offs(37)
Net foreign currency translation2 
Balance at September 30, 2024$1,414