Accounts Receivable, Net

12 Months Ended

Dec. 31, 2020

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivable, Net

ACCOUNTS RECEIVABLE, NET

Accounts receivable consist of the following:

	At December 31,
	2020		2019
In thousands
Trade receivables	$	19,945	$	13,794
U.S. Government contracts:
Billed	18,854		15,136
Costs and accrued profit – not billed	1,080		894
Commercial and other government contracts:
Billed	111,794		120,427
Costs and accrued profit – not billed	4,141		7,487
Less allowance for doubtful accounts	(2,008)		(1,246)
Accounts receivable, net	$	153,806	$	156,492

Of the accounts receivable on the Company's Consolidated Balance Sheet as of December 31, 2020, approximately $64.0 million relates to delays in payments on outstanding receivables related to a customer contract. Of this amount, $32.4 million in outstanding receivables were over twelve months past due. The Company continues to receive payments from this customer for recent shipments under this contract and expects to receive payment on the outstanding receivables. While the Company has determined that these receivable amounts continue to be collectible, to the extent these balances are not collected, this would have a material impact on the Company's liquidity, financial position and results of operations.

The Company performs ongoing evaluations of its customers’ current creditworthiness, as determined by the review of their credit information to determine if events have occurred subsequent to the recognition of revenue and the related receivable that provide evidence that such receivable will be realized in an amount less than that recognized at the time of sale. Estimates of credit losses are based on historical losses, current economic conditions, geographic considerations, and in some cases, evaluating specific customer accounts for risk of loss.

The following table summarizes the activity in the allowance for doubtful accounts in the year ended December 31, 2020:

In thousands
Balance at December 31, 2019	$	(1,246)
Provision	(1,391)
Additions attributable to acquisitions	(82)
Amounts written off	722
Changes in foreign currency exchange rates	(11)
Balance at December 31, 2020	$	(2,008)

COVID-19

The Company anticipates that the disruptions and delays resulting from the spread of COVID-19 and the measures instituted by governments and businesses to mitigate its spread will impact the Company's liquidity in the next twelve months. The Company continues to closely monitor the collectability of its receivables from commercial aerospace customers as it recognizes there may be delays in payments due to the impacts of COVID-19 on its customers. As of the date of this filing, the Company does not believe there has been any material impact on the collectability of these receivables.

6. ACCOUNTS RECEIVABLE, NET (CONTINUED)

Accounts receivable, net includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts are as follows:

	At December 31,
	2020		2019
In thousands
Contract changes, negotiated settlements and claims for unanticipated contract costs	$	900	$	900
Total	$	900	$	900