Accounts Receivables & Allowance for Doubtful Receivables

6 Months Ended

Jun. 30, 2023

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivables & Allowance for Doubtful Receivables

4.Accounts Receivable & Allowance for Doubtful Receivables

The Company maintains an allowance for doubtful receivables that in management’s judgment reflects losses inherent in the portfolio. A provision for doubtful receivables is recorded to adjust the level of the allowance in accordance with GAAP.

Changes in the allowance for doubtful trade receivables for the three and six months ended June 30, 2023 and 2022 were as follows (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Beginning balance	$	4,371		$	3,528		$	4,860		$	3,724
Provision for bad debt		2,251			1,833			3,279			3,219
Net write-offs
Write-offs		(4,225	)		(3,198	)		(8,188	)		(5,658	)
Recoveries		1,232			2,103			3,678			2,981
Net write-offs		(2,993	)		(1,095	)		(4,510	)		(2,677	)
Ending balance	$	3,629		$	4,266		$	3,629		$	4,266

Changes in the allowance for doubtful finance receivables for the three and six months ended June 30, 2023 and 2022 were as follows (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Beginning balance	$	2,256		$	704		$	2,275		$	636
Provision for bad debt		1,380			474			2,528			881
Net write-offs
Write-offs		(771	)		(207	)		(2,152	)		(577	)
Recoveries		183			-			397			30
Net write-offs		(588	)		(207	)		(1,755	)		(546	)
Ending balance	$	3,048		$	971		$	3,048		$	971