Trade Accounts Receivable

12 Months Ended

Dec. 31, 2023

Trade Accounts Receivable [Abstract]

Trade Accounts Receivable

3. Trade Accounts Receivable

Trade accounts receivables are recorded at their face amount, less an allowance for expected losses on doubtful accounts. The allowance for doubtful accounts is calculated based on customer-specific analysis and an aging methodology using historical loss information. The Company believes historical loss information is a reasonable basis for expected credit losses as the Company’s historical credit loss experience correlates with its customer delinquency status. This information is also adjusted for any known current economic conditions. Forecasted economic conditions have not had a significant impact on the current credit loss estimate due to the short-term nature of the Company’s customer receivables; however, the Company will continue to monitor and evaluate the rapidly changing economic conditions. Additionally, as the Company only has one portfolio segment, there are not different risks between portfolios. Specific accounts are written off against the allowance for doubtful accounts when the receivable is deemed no longer collectible.

The following table summarizes the changes in the allowance for doubtful accounts for the years ended December 31, 2023 and 2022:

(In thousands)	Allowance for Doubtful Accounts
Balance at December 31, 2021	$	4,877
Provision for expected credit losses		944
Accounts written off		(1,305	)
Translation and other activity		(80	)
Balance at December 31, 2022	$	4,436
Provision for expected credit losses		1,020
Accounts written off		(1,279	)
Translation and other activity		196
Balance at December 31, 2023	$	4,373