Accounts Receivable, Net

6 Months Ended

Jul. 01, 2022

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivable, Net

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:

	July 1, 2022		December 31, 2021
In thousands
Trade receivables	$	29,274	$	19,228
U.S. Government contracts:
Billed	15,605		14,748
Cost and accrued profit - not billed	275		167
Commercial and other government contracts
Billed	33,844		36,787
Cost and accrued profit - not billed	—		4,141
Less allowance for doubtful accounts	(1,306)		(1,547)
Accounts receivable, net	$	77,692	$	73,524

The Company performs ongoing evaluations of its customers’ current creditworthiness, as determined by the review of their credit information, to determine if events have occurred subsequent to the recognition of revenue and the related receivable that provide evidence that such receivable will be realized in an amount less than that recognized at the time of sale. Estimates of credit losses are based on historical losses, current economic conditions, geographic considerations, and in some cases, evaluating specific customer accounts for risk of loss.

The following table summarizes the activity in the allowance for doubtful accounts in the six-month fiscal period ended July 1, 2022:

In thousands
Balance at December 31, 2021	$	(1,547)
Provision	(257)
Amounts written off	197
Recoveries	297
Changes in foreign currency exchange rates	4
Balance at July 1, 2022	$	(1,306)

7. ACCOUNTS RECEIVABLE, NET (CONTINUED)

Accounts receivable, net includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts are as follows:

	July 1, 2022		December 31, 2021
In thousands
Contract changes, negotiated settlements and claims for unanticipated contract costs	$	—	$	900