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Revenue and Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2023

The pattern of revenue recognition was as follows:


	Year Ended December 31,
(In thousands)	2023		2022		2021
Goods and services transferred at a point in time	$	324,433	$	450,227	$	498,554
Goods and services transferred over time	96,024		92,524		103,048
Net sales	$	420,457	$	542,751	$	601,602

Revenue from External Customers by Geographic Areas

Our net sales to external customers by geographic area were as follows:


	Year Ended December 31,
(In thousands)	2023		2022		2021
United States	$	129,528	$	167,501	$	200,136
Asia (excluding the PRC)	85,347		127,702		127,140
Europe	90,221		103,993		126,551
People's Republic of China	63,334		85,215		87,866
Latin America	28,870		28,363		25,943
Other	23,157		29,977		33,966
Total net sales	$	420,457	$	542,751	$	601,602

Net Sales to Significant Customers

Net sales to the following customer totaled more than 10% of our net sales:


	Year Ended December 31,
	2023				2022				2021
	$ (thousands)		% of Net Sales		$ (thousands)		% of Net Sales		$ (thousands)		% of Net Sales
Comcast Corporation	(1)		(1)		$	75,917	14.0	%	$	98,361	16.3	%
Daikin Industries Ltd.	$	58,843	14.0	%	$	78,413	14.4	%	$	70,793	11.8	%

(1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

Accounts Receivable, Net and Changes in the Allowance for Credit Losses

Accounts receivable, net were as follows:


	December 31,
(In thousands)	2023		2022
Trade receivables, gross	$	106,182	$	108,030
Allowance for credit losses	(815)		(957)
Allowance for sales returns	(532)		(618)
Trade receivables, net	104,835		106,455
Other (1)	7,761		5,891
Accounts receivable, net	$	112,596	$	112,346

(1) Other accounts receivable is primarily comprised of value added tax and supplier rebate receivables.

Allowance for Credit Losses

Changes in the allowance for credit losses were as follows:


(In thousands)	Year Ended December 31,
	2023		2022		2021
Balance at beginning of period	$	957	$	1,285	$	1,412
Additions (reductions) to costs and expenses	70		(182)		—
Cash receipts	—		—		—
Write-offs/Foreign exchange effects	(212)		(146)		(127)
Balance at end of period	$	815	$	957	$	1,285

Trade Receivables Associated with Significant Customers

Trade receivables associated with this significant customer that totaled more than 10% of our accounts receivable, net were as follows:


	December 31,
	2023		2022
	$ (thousands)	% of Accounts Receivable, Net	$ (thousands)		% of Accounts Receivable, Net
Comcast Corporation	(1)	(1)	$	15,367	13.7	%

(1) Trade receivables associated with this customer did not total more than 10% of our accounts receivable, net for the indicated period.

Carrying Amount of Contract Liabilities

Changes in the carrying amount of contract liabilities were as follows:


(In thousands)	Year Ended December 31,
	2023		2022
Balance at beginning of period	$	1,931	$	390
Contract liabilities acquired (1)	—		2,390
Payments received	6,080		4,964
Revenue recognized	(4,529)		(5,812)
Foreign exchange effects	19		(1)
Balance at end of period	$	3,501	$	1,931

(1) During the year ended December 31, 2022, we recognized $2.4 million of contract liabilities related to the Qterics, Inc. ("Qterics") acquisition. Refer to Note 21 for further information about this acquisition.