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Accounts Receivable, Net

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Accounts Receivable, Net

4. Accounts Receivable, Net

Accounts receivable, net, consisted of the following (in millions):

						March 31, 2024						December 31, 2023
Contracts in progress									$	262.7								$	271.7
Unbilled retentions						0.1						—
Trade receivables						2.0						1.9
Other receivables						4.6						5.2
Allowance for expected credit losses (1)						(0.1)						(0.4)
Total						$	269.3					$	278.4

(1) There was no change to the allowance for expected credit losses as a result of the adoption of ASU 2016-13 on January 1, 2023.

As of January 1, 2023, total accounts receivable, net were $254.9 million.

For both the three months ended March 31, 2024 and 2023, the Company recognized a reversal of provisions for expected credit losses of $0.1 million. Direct write-downs of accounts receivable charged against the allowance totaled $0.2 million and zero for the three months ended March 31, 2024 and 2023, respectively.

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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
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//310-10/tableOfContent

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- References

No definition available.

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