SUPPLEMENTAL BALANCE SHEET INFORMATION

9 Months Ended

Sep. 29, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts receivable allowance for credit losses

The activity related to the accounts receivable allowance for credit losses was as follows:


	Thirty-nine weeks ended
(in thousands)	September 29, 2024		September 24, 2023
Beginning balance	$	2,005	$	3,212

Current period provision	1,577		3,254
Write-offs	(2,073)		(3,702)
Foreign currency translation	(1)		(2)
Ending balance	$	1,508	$	2,762

Prepaid expenses and other current assets

The balance of prepaid expenses and other current assets was made up of the following:


(in thousands)	September 29, 2024		December 31, 2023
Prepaid software agreements	$	8,816	$	8,435
Other prepaid expenses	8,848		9,355
Assets held-for-sale	11,759		4,845
Other current assets	5,109		6,259
Prepaid expenses and other current assets	$	34,532	$	28,894

Assets held-for-sale

On April 11, 2024, following an evaluation of our office space and business requirements, management, with approval from the Board of Directors, entered into an agreement to sell our Tacoma headquarters building for $15.0 million. The sale is expected to be finalized within one year, subject to customary closing conditions. As a result, during the fiscal second quarter, we classified these assets as held-for-sale and ceased recording depreciation. As the estimated fair value of the disposal group, less costs to sell, exceeded its carrying value of $11.8 million, no impairment charge was recorded during the thirty-nine weeks ended September 29, 2024.

Assets held-for-sale as of December 31, 2023 represented the assets included as part of the disposal group related to the eventual divestiture of PeopleReady Canada, which was finalized during the fiscal first quarter of 2024. Refer to Note 2: Divestiture for additional details.