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Revenue and Accounts Receivable, Net
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Revenue and Accounts Receivable, Net Revenue and Accounts Receivable, Net
Revenue Details

The pattern of revenue recognition was as follows:
Year Ended December 31,
(In thousands)202420232022
Goods and services transferred at a point in time$321,410 $324,433 $450,227 
Goods and services transferred over time73,469 96,024 92,524 
Net sales$394,879 $420,457 $542,751 

Our net sales to external customers by geographic area were as follows: 
Year Ended December 31,
(In thousands)202420232022
United States$106,718 $129,528 $167,501 
Asia (excluding the PRC)78,225 85,347 127,702 
Europe90,622 90,221 103,993 
Latin America34,433 28,870 28,363 
PRC60,338 63,334 85,215 
Other24,543 23,157 29,977 
Total net sales$394,879 $420,457 $542,751 

Specific identification of the customer billing location was the basis used for attributing revenues from external customers to geographic areas.

Accounts Receivable, Net

Accounts receivable, net were as follows:
December 31,
(In thousands)20242023
Trade receivables, gross$93,773 $106,182 
Allowance for credit losses(1,863)(815)
Allowance for sales returns(383)(532)
Trade receivables, net91,527 104,835 
Other (1)
22,655 7,761 
Accounts receivable, net (2)
$114,182 $112,596 
(1)     Other accounts receivable is primarily comprised of supplier, supplier rebate and interest receivables.
(2)     Accounts receivable, net at December 31, 2022 was $112.3 million.
Allowance for Credit Losses

Changes in the allowance for credit losses were as follows:
(In thousands)Year Ended December 31,
202420232022
Balance at beginning of period$815 $957 $1,285 
Additions (reductions) to costs and expenses1,081 70 (182)
Write-offs/Foreign exchange effects(33)(212)(146)
Balance at end of period$1,863 $815 $957 

Contract Assets

Contract assets were $10.3 million, $4.2 million, and $8.0 million at December 31, 2024, 2023 and 2022, respectively. The change in balances between periods is due to the fluctuation of custom product inventory balances for which we have an enforceable right to payment for performance completed to date.

Contract Liabilities

We have current and non-current contract liability balances primarily consist of cash received in advance of providing our cloud-based software services. Contract liabilities are included within other accrued liabilities and other long-term liabilities in our consolidated balance sheets.

Changes in the carrying amount of contract liabilities were as follows: 
(In thousands)Year Ended December 31,
20242023
Balance at beginning of period$3,501 $1,931 
Payments received5,524 6,080 
Revenue recognized(5,736)(4,529)
Foreign exchange effects(53)19 
Balance at end of period$3,236 $3,501 

Significant Customers

Net sales to the following customers totaled more than 10% of our net sales: 
 Year Ended December 31,
 202420232022
 $ (thousands)% of Net
Sales		$ (thousands)% of Net
Sales		$ (thousands)% of Net
Sales
Daikin Industries Ltd.$52,421 13.3 %$58,843 14.0 %$78,413 14.4 %
Comcast Corporation
(1)
(1)
(1)
(1)
$75,917 14.0 %
(1)     Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

There were no significant customers that totaled more than 10% of our accounts receivable at December 31, 2024 or December 31, 2023.