ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following as of December 31:

(in thousands)	2016			2015
Billed	$	58,392		$	67,021
Unbilled	39,853			56,458
	98,245			123,479
Less: allowance for doubtful accounts	(10,424		)	(18,456		)
Total	$	87,821		$	105,023

Unbilled receivables consist primarily of certain asset management and default management services for which we generally recognize revenues over the service delivery period but bill following completion of the service. We also include amounts in unbilled receivables that are earned during a month and billed in the following month.

Bad debt expense amounted to $1.8 million, $5.5 million and $16.3 million for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive income. The higher bad debt expense in 2014 was primarily driven by the default management services business. A change in many of our default management services customers’ business models and fourth quarter 2014 discussions with those customers led us to believe that a portion of the accounts receivable balance was no longer collectible.