Receivables, Net

3 Months Ended

Mar. 30, 2024

RECEIVABLES, NET

The Company grants credit to its customers with defined payment terms, performs ongoing evaluations of the credit worthiness of its customers and generally does not require collateral. Accounts receivable are carried at their outstanding principal amounts, less an anticipated amount for discounts and an allowance for expected credit losses, which management believes is sufficient to cover potential credit losses based on historical experience and periodic evaluation of the financial condition of the Company's customers. The Company's allowance for credit losses is computed using a number of factors including past credit loss experience and the aging of amounts due from our customers, in addition to other customer-specific factors. The Company also considered recent trends and developments related to the current macroeconomic environment in determining its ending allowance for credit losses for accounts receivable. If the financial condition of the Company's customers were to deteriorate, resulting in a change in their ability to make payments, or additional changes in macroeconomic factors occur, additional allowances may be required. Receivables are summarized as follows:


	March 30, 2024		December 30, 2023
Customers, trade	$	27,942	$	22,461
Other receivables	757		1,665
Gross receivables	28,699		24,126
Less: allowance for expected credit losses (1)	(474)		(440)
Receivables, net	$	28,225	$	23,686

(1)The Company recognized an expense to the provision for expected credit losses of $88 and recognized write-offs, net of recoveries of $54 for the three months ended March 30, 2024. The Company recognized a credit to the provision for expected credit losses of $(66) and recognized write-offs, net of recoveries of $28 for the three months ended April 1, 2023.