Receivables and allowance for expected credit losses

6 Months Ended

Jun. 30, 2022

Credit Loss [Abstract]

Receivables and allowance for expected credit loss

Receivables and allowance for expected credit losses

Receivables consists primarily of trade receivables from the sale of goods and services, which are recorded at the invoiced amount, and contract assets, net of expected credit losses. For more information on contract assets, see Note 9. The Company's trade receivables are all due in 12 months or less. The total balance of receivables past due 90 days or more was $37.0 million, $34.2 million and $44.8 million at June 30, 2022 and 2021, and December 31, 2021, respectively.

The Company's expected credit losses are determined through a review using historical credit loss experience; changes in asset specific characteristics; current conditions; and reasonable and supportable future forecasts, among other specific account data, and is performed at least quarterly. The Company develops and documents its methodology to determine its allowance for expected credit losses at each of its reportable business segments. Risk characteristics used by the business segments may include customer mix, knowledge of customers and general economic conditions of the various local economies, among others. Specific account balances are written off when management determines the amounts to be uncollectible. Management has reviewed the balance reserved through the allowance for expected credit losses and believes it is reasonable.

Details of the Company's expected credit losses were as follows:

	Electric		Natural gas distribution		Pipeline		Construction materials and contracting		Construction services		Total
	(In thousands)
At December 31, 2021	$	269	$	1,506	$	2	$	5,406	$	2,533	$	9,716
Current expected credit loss provision	565		1,369		—		(253)		54		1,735
Less write-offs charged against the allowance	597		932		—		27		71		1,627
Credit loss recoveries collected	124		180		—		—		28		332
At March 31, 2022	$	361	$	2,123	$	2	$	5,126	$	2,544	$	10,156
Current expected credit loss provision	113		92		—		12		292		509
Less write-offs charged against the allowance	234		939		—		108		104		1,385
Credit loss recoveries collected	108		177		—		—		—		285
At June 30, 2022	$	348	$	1,453	$	2	$	5,030	$	2,732	$	9,565

	Electric		Natural gas distribution		Pipeline		Construction materials and contracting		Construction services		Total
	(In thousands)
At December 31, 2020	$	899	$	2,571	$	2	$	6,164	$	5,722	$	15,358
Current expected credit loss provision	538		1,273		—		(1,049)		(1,079)		(317)
Less write-offs charged against the allowance	888		1,107		—		273		401		2,669
Credit loss recoveries collected	129		213		—		—		—		342
At March 31, 2021	$	678	$	2,950	$	2	$	4,842	$	4,242	$	12,714
Current expected credit loss provision	(110)		(103)		—		11		(639)		(841)
Less write-offs charged against the allowance	341		787		—		232		64		1,424
Credit loss recoveries collected	100		199		—		—		—		299
At June 30, 2021	$	327	$	2,259	$	2	$	4,621	$	3,539	$	10,748