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BALANCE SHEET COMPONENTS
9 Months Ended
Sep. 30, 2022
Balance Sheet Components [Abstract]  
BALANCE SHEET COMPONENTS
NOTE 5 - BALANCE SHEET COMPONENTS
Accounts receivable, net consisted of the following:
(In thousands)September 30, 2022December 31, 2021
Accounts receivable$45,334 $37,121 
Less: allowance for doubtful accounts(1,058)(840)
Accounts receivable, net$44,276 $36,281 
Movement of allowance for doubtful accounts is as follows:
Nine Months Ended September 30,
(In thousands)20222021
Beginning balance$840 $909 
Increase (decrease) in provision for doubtful accounts226 (374)
Write off(8)(186)
Ending balance$1,058 $349 
Long-term investments consisted of the following:
(In thousands)Ownership as of September 30,
2022
September 30, 2022December 31, 2021
Asahi Food, Inc.49%$832 $662 
Pt. Tamron Akuatik Produk Industri ("Tamron")12%1,800 1,800 
Total$2,632 $2,462 
The investment in Tamron is accounted for using the measurement alternative under ASC Topic 321 (“ASC 321”), Investments – Equity Securities, which is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment in Asahi Food, Inc. is accounted for under the equity method due to the fact that the Company has significant influence but does not exercise control over this investee. The Company determined there was no impairment as of September 30, 2022 and December 31, 2021 for these investments.
Property and equipment, net consisted of the following:
(In thousands)September 30, 2022December 31, 2021
Automobiles $34,794 $31,577 
Buildings70,881 68,998 
Building improvements 12,023 19,004 
Furniture and fixtures 356 211 
Land 49,920 51,412 
Machinery and equipment 17,636 14,114 
Total property and equipment at cost185,610 185,316 
Less: accumulated depreciation(44,310)(39,408)
Property and equipment, net$141,300 $145,908 
Depreciation expense was $2.2 million and $2.0 million for the three months ended September 30, 2022 and 2021, respectively. Depreciation expense was $6.6 million and $6.0 million for the nine months ended September 30, 2022 and 2021, respectively.