Settlement assets represent funds received or to be received from agents for unsettled money transfers and from merchants for unsettled prepaid transactions. The Company records corresponding settlement obligations relating to accounts payable. Settlement assets consist of cash and cash equivalents, restricted cash, accounts receivable and prepaid expenses and other current assets. The settlement cash held at the Company is primarily generated from the monies remitted by consumers through Company agents and financial institutions in payment of the face value of the payment service or foreign currency purchased and the related fees charged to purchase the currency. The Company uses its cash and cash equivalents to pay the face value of the payment service product upon presentation by the recipient. Cash received by Company agents and merchants generally becomes available to the Company within two weeks after initial receipt by the business partner. Receivables from business partners represent funds collected by such business partners that are in transit to the Company.

Settlement obligations consist of accrued expenses for money transfers, content providers, and EFT customer deposits and accounts payable to agents and content providers. Money transfer accrued expenses represent amounts to be paid to transferees when they request funds. Most agents typically settle with transferees first then obtain reimbursement from the Company. Money order accrued expenses represent amounts not yet presented for payment. Due to the agent funding and settlement process, accrued expenses to agents represent amounts due to agents for money transfers that have not been settled with transferees.

(in thousands)	As of December 31, 2022		As of December 31, 2021
Settlement assets:
Settlement cash and cash equivalents	$	242,621	$	203,624
Settlement restricted cash	94,015		74,897
Account receivables, net of credit loss allowance of $32,989 and $27,341	887,616		619,738
Prepaid expenses and other current assets	218,440		204,130
Total settlement assets	$	1,442,692	$	1,102,389
Settlement obligations:
Trade account payables	$	655,124	$	461,135
Accrued expenses and other current liabilities	787,568		641,254
Total settlement obligations	$	1,442,692	$	1,102,389

The table below reconciles cash and cash equivalents, restricted cash, ATM cash, settlement cash and cash equivalents, and settlement restricted cash as presented within "Cash and cash equivalents and restricted cash" in the Consolidated Statement of Cash Flows.

	As of
(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Cash and cash equivalents	$	1,131,207	$	1,260,466	$	1,420,255
Restricted cash	7,374		3,693		3,334
ATM cash	515,643		543,422		411,054
Settlement cash and cash equivalents	242,621		203,624		188,191
Settlement restricted cash	94,015		74,897		76,674
Cash and cash equivalents and restricted cash at end of period	$	1,990,860	$	2,086,102	$	2,099,508