Accounts Receivable, Net

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 was as follows (in thousands):

	June 30, 2023		December 31, 2022
Trade accounts receivable	$	336,566	$	267,409
Unbilled revenue, at net realizable value	143,234		87,890
Total accounts receivable	479,800		355,299
Allowance for doubtful accounts	(23,403)		(20,801)
Accounts receivable, net	$	456,397	$	334,498

Changes to the allowance for doubtful accounts for the six months ended June 30, 2023 and twelve months ended December 31, 2022 were as follows (in thousands):

	June 30, 2023		December 31, 2022
Balance at beginning of period	$	(20,801)	$	(16,158)
Provision	(5,507)		(13,545)
Charge-offs, net of recoveries	2,905		8,902
Allowance for doubtful accounts	$	(23,403)	$	(20,801)