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SUPPLEMENTAL BALANCE SHEET INFORMATION | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTAL BALANCE SHEET INFORMATION | SUPPLEMENTAL BALANCE SHEET INFORMATION Accounts receivable allowance for credit losses
(in thousands) | 2023 | 2022 | 2021
Beginning balance | $ | 3,212 |  | $ | 6,687 |  | $ | 2,921 |
Current period provision | 4,972 |  | 4,462 |  | 6,493 |
Write-offs | (6,184) |  | (7,917) |  | (2,713) |
Foreign currency translation | 5 |  | (20) |  | (14) |
Ending balance | $ | 2,005 |  | $ | 3,212 |  | $ | 6,687 |
Prepaid expenses and other current assets
(in thousands) | December 31, 2023 | December 25, 2022
Prepaid software agreements | $ | 8,435 |  | $ | 9,994 |
Other prepaid expenses | 9,355 |  | 9,455 |
Assets held-for-sale | 4,845 |  | — |
Other current assets | 6,259 |  | 13,081 |
Prepaid expenses and other current assets | $ | 28,894 |  | $ | 32,530 |
Other current liabilities
(in thousands) | December 31, 2023 | December 25, 2022
Contract liabilities | $ | 1,844 |  | $ | 3,812 |
Liabilities held-for-sale | 1,998 |  | — |
Other current liabilities | 6,529 |  | 7,077 |
Other current liabilities | $ | 10,371 |  | $ | 10,889 |
Property and equipment
(in thousands) | December 31, 2023 | December 25, 2022
Buildings and land | $ | 46,818 |  | $ | 49,359 |
Software | 201,235 |  | 150,198 |
Computers, furniture and equipment | 38,706 |  | 48,670 |
Construction in progress | 2,670 |  | 31,958 |
Gross property and equipment | 289,429 |  | 280,185 |
Less accumulated depreciation | (184,523) |  | (184,362) |
Property and equipment, net | $ | 104,906 |  | $ | 95,823 |
Capitalized software costs, net of accumulated depreciation, were $73.3 million and $28.1 million as of December 31, 2023 and December 25, 2022, respectively, excluding amounts in construction in progress. Construction in progress consists primarily of purchased and internally-developed software. Depreciation expense of property and equipment totaled $20.6 million, $23.5 million and $20.9 million for the fiscal years ended December 31, 2023, December 25, 2022 and December 26, 2021, respectively. Assets and liabilities held-for-sale During fiscal 2023, as part of our strategic initiative to simplify our organizational structure and sharpen our focus on core operations, management, with approval from the Board, began actively marketing Labour Ready Temporary Services, Ltd. (“LRTS”). LRTS is a wholly-owned subsidiary of the company, and provides contingent staffing solutions to clients in Canada under the PeopleReady brand. The operational results of LRTS are included as part of our PeopleReady operating segment and reportable segment for all years presented. LRTS is not an individually significant component of the company. As of December 31, 2023, all criteria for classifying this entity as held-for-sale were met, and did not result in recognition of a loss on our Consolidated Statements of Operations and Comprehensive Income (Loss) for fiscal 2023. The assets and liabilities classified as held-for-sale as of December 31, 2023 are presented within other current assets and other current liabilities, respectively, on our Consolidated Balance Sheets. The following represents the carrying amounts of the major classes of assets and liabilities included as part of the disposal group classified as held-for-sale:
(in thousands) | December 31, 2023
Current assets held-for-sale: |
Cash and cash equivalents | $ | 300 |
Accounts receivable, net | 1,919 |
Prepaid expenses and other current assets | 80 |
Income tax receivable | 201 |
Property and equipment, net | 156 |
Deferred income taxes, net | 23 |
Goodwill (1) | 1,020 |
Operating lease right-of-use assets, net | 1,146 |
Total current assets held-for-sale | $ | 4,845 |
Current liabilities held-for-sale: |
Accounts payable and other accrued expenses | $ | 289 |
Accrued wages and benefits | 427 |
Operating lease liabilities | 1,180 |
Other current liabilities | 102 |
Total current liabilities held-for-sale | $ | 1,998 |
(1) Goodwill was allocated based on the relative fair value of LRTS to the total PeopleReady reporting unit prior to being reclassified as held-for-sale. The expected divestiture of our PeopleReady operations in Canada does not represent a strategic shift, nor do we expect it to have a major effect on the company’s operations and financial results and, therefore will not be reported as discontinued operations in our Consolidated Balance Sheets or Consolidated Statements of Operations and Comprehensive Income (Loss). A sale is expected to be finalized during the fiscal first quarter of 2024. Subsequent event On February 20, 2024, the company entered into a definitive share purchase agreement to sell LRTS to Vertical Staffing Resources. The transaction is expected to close during the fiscal first quarter of 2024, subject to customary closing conditions.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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