v3.21.2
Trade and other receivables
9 Months Ended
Sep. 30, 2021
Trade and other receivables [Abstract]  
Trade and other receivables
Note 12. - Trade and other receivables

Trade and other receivables as of September 30, 2021 and December 31, 2020, consist of the following:

   
Balance as of
September 30,
   
Balance as of
December 31,
 
   
2021
   
2020
 
   
($ in thousands)
 
Trade receivables
   
236,406
     
258,088
 
Tax receivables
   
56,554
     
50,663
 
Prepayments
   
22,616
     
12,074
 
Other accounts receivable
   
8,691
     
10,910
 
Total
   
324,267
     
331,735
 

The decrease in trade receivables is primarily due to payments received from Pemex in ACT, partially offset by the increase due to business combinations for a total amount of $28 million (Note 5).

The increase in prepayments is primarily due to the timing of insurance payments.

As of September 30, 2021, and December 31, 2020, the fair value of trade and other receivables accounts does not differ significantly from its carrying value.