Accounts receivable, net

3 Months Ended

Mar. 31, 2024

The Company recognizes current estimated credit losses (“CECL”) for trade receivables not subject to provisional pricing. The CECL for accounts receivable are estimated based on days past due consisting of customers with similar risk characteristics that operate under similar economic environments. The Company determines the CECL based on an evaluation of certain criteria and evidence of collection uncertainty including client industry profile. When specific customers are identified as no longer sharing the same risk profile as their current pool, they are removed from the pool and evaluated separately.

The allowance for credit losses as at March 31, 2024 was $nil (December 31, 2023 : $nil) and no expected credit loss provisions were recognized for the three months ended March 31, 2024.

Bad debt expense for the three months ended March 31, 2024 was $nil (for the three months ended March 31, 2023 : $1.0 million).

Accounts receivable are stated at the amount the Company expects to collect. The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, the Company performs ongoing credit evaluations of its customers’ financial condition.

Other receivables


As at	March 31, 2024		December 31, 2023

Sales taxes receivable	$	1.4	1.8
Other receivable	0.2		0.1
Total other receivables	$	1.6	$	1.9

Other receivables consist primarily of interest receivable.