XML 43 R13.htm IDEA: XBRL DOCUMENT v3.25.4
Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
The following table sets forth the Company's allowance for credit losses:
(in thousands)202520242023
Balance as of January 1$13,080 $14,961 $14,799 
Additions (1)
15,003 16,882 18,664 
Deductions (2)
(14,251)(18,763)(18,502)
Balance as of December 31 (3)
$13,832 $13,080 $14,961 
(1)For the years ended December 31, 2025, 2024, and 2023, the Company recorded a provision for credit losses of $15.0 million, $16.9 million, and $18.7 million, respectively, which is included in General and administrative expense in the Consolidated Statements of Operations and Comprehensive Income (Loss).
(2)Represents amounts written off as uncollectible, net of recoveries.
(3)As of December 31, 2025, and 2024, $13.8 million, and $13.1 million of the allowance was attributable to Accounts receivable, respectively. For both periods, less than $0.1 million was attributable to Contract assets. The Company expects to collect substantially all of its long-term unbilled balance.
The Company’s exposure to expected credit losses depends on the financial condition of its clients and other macroeconomic factors. The Company maintains an allowance for credit losses based upon its estimate of potential credit losses. This allowance is based upon historical and current client collection trends, any identified client-specific collection issues, and current as well as expected future economic conditions and market trends.