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Contract Receivables, Net -Summary of Reconciliation of Billed Contract Receivables Sold to MUF Including Receivables Sold to MUFC And Collected from Customers on Behalf of MUFG And Receivables Not Yet Collected from Customers (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Receivables [Abstract]    
Beginning balance [1] $ 21,302 $ 3,819
Billed receivables sold during the period [2] 315,553 66,402
Collections from customers during the period [2],[3] (302,174) (42,575)
Ending balance [4] $ 34,681 $ 27,646
[1] The beginning balances represent billed contract receivables that were previously sold and derecognized by the Company but have not yet been collected from customers as of January 1, 2024 and 2023, respectively.
[2] For the six months ended June 30, 2024 and 2023, the Company recorded net inflows of $13.4 million and $23.8 million, respectively, in its cash flows from operating activities from the sale of billed contract receivables.
[3] For the six-months period ended June 30, 2024 and 2023, the Company recorded net inflows of $9.6 million and $4.1 million, respectively, in its cash flows from operating activities from the collection of billed contract receivables that were sold but not yet remitted to MUFG.
[4] The ending balances represent billed contract receivables that were sold and derecognized by the Company but have not yet been collected from customers as of June 30, 2024 and 2023, respectively.