Note 4 - Accounts Receivable

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. ACCOUNTS RECEIVABLE:

The Company’s accounts receivable, net, consisted of the following (in thousands):

	December 31,
	2024			2023
Trade accounts receivable from sale of vehicles	$	212,216		$	119,575
Trade receivables other than vehicles		99,108			98,555
Warranty claims		18,675			21,395
Other accounts receivable		18,088			23,633
Less allowance for credit losses		(2,741	)		(3,805	)
Total	$	345,346		$	259,353

Accounts receivable as of January 1, 2023, was $220.7 million.

Notes receivable from the Cummins Clean Fuel Technologies (“CCFT”) joint venture include a $15.0 million promissory note bearing interest at the monthly SOFR, plus 1.5% and maturing on December 31, 2026. The note arose from a loan provided to the joint venture to fund its working capital needs. The Company's share of profits from the joint venture is subject to the terms of the partnership agreement and may be impacted by the performance of the joint venture.