Accounts Receivables & Allowance for Doubtful Receivables

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022 were as follows (in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Beginning balance	$	3,629		$	4,266		$	4,860		$	3,724
Provision for bad debt		2,046			1,731			5,325			4,950
Net write-offs
Write-offs		(3,254	)		(2,977	)		(11,442	)		(8,635	)
Recoveries		935			1,376			4,613			4,357
Net write-offs		(2,319	)		(1,601	)		(6,829	)		(4,278	)
Ending balance	$	3,356		$	4,396		$	3,356		$	4,396

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

	Three months ended September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Beginning balance	$	3,048		$	971		$	2,275		$	636
Provision for bad debt		677			1,269			3,205			2,151
Net write-offs
Write-offs		(1,148	)		(1,021	)		(3,300	)		(1,598	)
Recoveries		96			130			493			160
Net write-offs		(1,052	)		(891	)		(2,807	)		(1,438	)
Ending balance	$	2,673		$	1,349		$	2,673		$	1,349