Trade and other receivables

6 Months Ended

Jun. 30, 2021

Trade and other receivables [Abstract]

Note 12. - Trade and other receivables

Trade and other receivables as of June 30, 2021 and December 31, 2020, consist of the following:

	Balance as of June 30,		Balance as of December 31,
	2021		2020
	($ in thousands)
Trade receivables		224,360		258,088
Tax receivables		52,221		50,663
Prepayments		29,291		12,074
Other accounts receivable		6,322		10,910
Total		312,194		331,735

The decrease in trade receivables is primarily due to payments received from Pemex in ACT, partially offset by the increase due to business combinations for a total amount of $28 million (Note 5).

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

As of June 30, 2021, and December 31, 2020, the fair value of trade and other receivables accounts does not differ significantly from its carrying value.