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Revenue and Accounts Receivable, Net | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Revenue and Accounts Receivable, Net | Revenue and Accounts Receivable, Net Revenue Details The pattern of revenue recognition was as follows:
| Year Ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Goods and services transferred at a point in time | $ | 321,410 |  |  | $ | 324,433 |  |  | $ | 450,227 |
Goods and services transferred over time | 73,469 |  |  | 96,024 |  |  | 92,524 |
Net sales | $ | 394,879 |  |  | $ | 420,457 |  |  | $ | 542,751 |
Our net sales to external customers by geographic area were as follows:
| Year Ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
United States | $ | 106,718 |  |  | $ | 129,528 |  |  | $ | 167,501 |
Asia (excluding the PRC) | 78,225 |  |  | 85,347 |  |  | 127,702 |
Europe | 90,622 |  |  | 90,221 |  |  | 103,993 |
Latin America | 34,433 |  |  | 28,870 |  |  | 28,363 |
PRC | 60,338 |  |  | 63,334 |  |  | 85,215 |
Other | 24,543 |  |  | 23,157 |  |  | 29,977 |
Total net sales | $ | 394,879 |  |  | $ | 420,457 |  |  | $ | 542,751 |
Specific identification of the customer billing location was the basis used for attributing revenues from external customers to geographic areas. Accounts Receivable, Net Accounts receivable, net were as follows:
| December 31,
(In thousands) | 2024 |  | 2023
Trade receivables, gross | $ | 93,773 |  |  | $ | 106,182 |
Allowance for credit losses | (1,863) |  |  | (815) |
Allowance for sales returns | (383) |  |  | (532) |
Trade receivables, net | 91,527 |  |  | 104,835 |
Other (1) | 22,655 |  |  | 7,761 |
Accounts receivable, net (2) | $ | 114,182 |  |  | $ | 112,596 |
(1) Other accounts receivable is primarily comprised of supplier, supplier rebate and interest receivables. (2) Accounts receivable, net at December 31, 2022 was $112.3 million. Allowance for Credit Losses Changes in the allowance for credit losses were as follows:
(In thousands) | Year Ended December 31,
2024 |  | 2023 |  | 2022
Balance at beginning of period | $ | 815 |  |  | $ | 957 |  |  | $ | 1,285 |
Additions (reductions) to costs and expenses | 1,081 |  |  | 70 |  |  | (182) |
Write-offs/Foreign exchange effects | (33) |  |  | (212) |  |  | (146) |
Balance at end of period | $ | 1,863 |  |  | $ | 815 |  |  | $ | 957 |
Contract Assets Contract assets were $10.3 million, $4.2 million, and $8.0 million at December 31, 2024, 2023 and 2022, respectively. The change in balances between periods is due to the fluctuation of custom product inventory balances for which we have an enforceable right to payment for performance completed to date. Contract Liabilities We have current and non-current contract liability balances primarily consist of cash received in advance of providing our cloud-based software services. Contract liabilities are included within other accrued liabilities and other long-term liabilities in our consolidated balance sheets. Changes in the carrying amount of contract liabilities were as follows:
(In thousands) | Year Ended December 31,
2024 |  | 2023
Balance at beginning of period | $ | 3,501 |  |  | $ | 1,931 |
Payments received | 5,524 |  |  | 6,080 |
Revenue recognized | (5,736) |  |  | (4,529) |
Foreign exchange effects | (53) |  |  | 19 |
Balance at end of period | $ | 3,236 |  |  | $ | 3,501 |
Significant Customers Net sales to the following customers totaled more than 10% of our net sales:
| Year Ended December 31, |  |
| 2024 |  | 2023 |  | 2022 |  |
| $ (thousands) |  | % of Net Sales |  | $ (thousands) |  | % of Net Sales |  | $ (thousands) |  | % of Net Sales |  |
Daikin Industries Ltd. | $ | 52,421 |  |  | 13.3 | % |  | $ | 58,843 |  |  | 14.0 | % |  | $ | 78,413 |  |  | 14.4 | % |  |
Comcast Corporation | (1) |  | (1) |  | (1) |  | (1) |  | $ | 75,917 |  |  | 14.0 | % |  |
(1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period. There were no significant customers that totaled more than 10% of our accounts receivable at December 31, 2024 or December 31, 2023.

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- Definition The entire disclosure for claims held for amounts due to 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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