Accounts Receivable

3 Months Ended

Dec. 31, 2023

Accounts receivable primarily consists of trade accounts receivable, contracts in transit and manufacturer receivables. Trade receivables include amounts due from customers on the sale of boats, parts, service, and storage. Contracts in transit represent anticipated funding from the loan agreement customers execute at the dealership when they purchase their new or pre-owned boat. These finance contracts are typically funded within 30 days. Amounts due from manufacturers represent receivables for various manufacturer incentive programs and parts and service work performed pursuant to the manufacturers’ warranties. Accounts receivable as of September 30, 2023 also consisted of a receivable resulting from the fiscal year 2023 disposition of Roscioli Yachting Center. The proceeds on disposal were received during the three months ended December 31, 2023.

The allowance for credit losses is estimated based on past collection experience, current conditions and reasonable and supportable forecasts. The activity for charges and subsequent recoveries is immaterial.

Accounts receivable consisted of the following:


($ in thousands)	December 31, 2023		September 30, 2023
Trade accounts receivable	$	24,888	$	32,065
Contracts in transit	14,865		25,425
Manufacturer receivable	8,766		11,288
Receivable for proceeds on the disposition of a business	—		45,100
Total accounts receivable	48,519		113,878
Less – allowance for credit losses	(634)		(703)
Total accounts receivable, net	$	47,885	$	113,175