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RECEIVABLES | 3 Months Ended
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Mar. 31, 2023
Receivables [Abstract] |
RECEIVABLES | RECEIVABLES A summary of accounts receivable as of March 31, 2023 and December 31, 2022 is as follows (in thousands):
| March 31, 2023 |  | December 31, 2022
| (unaudited) |  |
Trade accounts receivable | $ | 142,723 |  |  | $ | 160,572 |
Unbilled receivables | 40,414 |  |  | 31,379 |
Allowance for credit losses | (4,926) |  |  | (5,262) |
Total | $ | 178,211 |  |  | $ | 186,689 |
We measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This applies to financial assets measured at amortized cost, including trade and unbilled accounts receivable, and requires immediate recognition of lifetime expected credit losses. Significant factors that affect the expected collectability of our receivables include macroeconomic trends and forecasts in the oil and gas, refining, power, and petrochemical markets and changes in our results of operations and forecasts. For unbilled receivables, we consider them as short-term in nature as they are normally converted to trade receivables within 90 days, thus future changes in economic conditions will not have a significant effect on the credit loss estimate. The following table shows a rollforward of the allowance for credit losses (in thousands):
| March 31, 2023 |  | December 31, 2022
| (unaudited) |  |
Balance at beginning of period | $ | 5,262 |  |  | $ | 7,843 |
Provision for expected credit losses | 155 |  |  | 1,059 |
Recoveries collected | (351) |  |  | (1,114) |
Write-offs | (96) |  |  | (2,479) |
Foreign exchange effects | (44) |  |  | (47) |
Balance at end of period | $ | 4,926 |  |  | $ | 5,262 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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