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Contract Assets (Tables)
6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Summary of Contract Assets
Contract assets balances for the periods indicated below were as follows:
 Contract Assets
Profit
Share
Program
Fees
Claims Administration and Other Service FeesTotal
(in thousands)
Ending balance as of December 31, 2023$22,855 $4,738 $1,721 $29,314 
Increase of contract assets due to new business generation31,019 29,185 5,112 65,316 
Adjustment of contract assets due to estimation of revenue from performance obligations satisfied in previous periods(7,804)— — (7,804)
Payables (receivables) transferred from contract assets upon billing the lending institutions678 (30,299)— (29,621)
Payments received from insurance carriers(18,826)— (4,632)(23,458)
Provision for expected credit losses(22)(16)
Ending balance as of June 30, 2024$27,900 $3,629 $2,202 $33,731 
 
 Contract Assets
Profit
Share
Program
Fees
Claims Administration and Other Service FeesTotal
(in thousands)
Ending balance as of March 31, 2024$25,551 $4,006 $2,371 $31,928 
Increase of contract assets due to new business generation15,989 14,835 2,558 33,382 
Adjustment of contract assets due to estimation of revenue from performance obligations satisfied in previous periods(6,656)— — (6,656)
Payables (receivables) transferred from contract assets upon billing the lending institutions678 (15,212)— (14,534)
Payments received from insurance carriers(7,626)— (2,727)(10,353)
Provision for expected credit losses(36)— — (36)
Ending balance as of June 30, 2024$27,900 $3,629 $2,202 $33,731