Accounts Receivable, Net

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Accounts Receivable, Net

ACCOUNTS RECEIVABLE, NET

Accounts receivable, less allowance for doubtful accounts, reflects the net realizable value of receivables and approximates fair value. Unbilled revenue is recorded at estimated net realizable value. Assessing the collectability of the receivables (billed and unbilled) requires management judgment based on a combination of factors, including but not limited to, an evaluation of our historical incurred loss experience, credit-worthiness of our clients, age of the trade receivable balance, current economic conditions that may affect a client’s ability to pay, and reasonable and supportable forecasts. Receivables are charged-off against the allowance when the balance is deemed uncollectible.

Accounts receivable, net, at September 30, 2021 and December 31, 2020 was as follows (in thousands):

	September 30, 2021		December 31, 2020
Trade accounts receivable	$	200,584	$	167,575
Unbilled revenue, at net realizable value	107,664		63,494
Total accounts receivable	308,248		231,069
Allowance for doubtful accounts	(14,358)		(14,894)
Accounts receivable, net	$	293,890	$	216,175

Changes to the allowance for doubtful accounts for the nine months ended September 30, 2021 and twelve months ended December 31, 2020 are as follows (in thousands):

	September 30, 2021		December 31, 2020
Balance at beginning of period	$	(14,894)	$	(14,379)
Provision	(4,450)		(9,323)
Charge-offs, net of recoveries	4,986		8,808
Allowance for doubtful accounts	$	(14,358)	$	(14,894)