Trade and other receivables

3 Months Ended

Mar. 31, 2021

Trade and other receivables [Abstract]

Note 12. - Trade and other receivables

Trade and other receivables as of March 31, 2021 and December 31, 2020, consist of the following:

	Balance as of March 31,		Balance as of December 31,
	2021		2020
	($ in thousands)
Trade receivables		196,888		258,088
Tax receivables		44,450		50,663
Prepayments		27,115		12,074
Other accounts receivable		7,222		10,910
Total		275,675		331,735

The decrease in trade receivables is primarily due to payments received from Pemex in ACT.

The increase in prepayments is primarily due to the timing of payment of insurance.

As of March 31, 2021, and December 31, 2020, the fair value of trade and other receivables accounts does not differ significantly from its carrying value.