Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Text Block]

Accounts receivable, net, consists of the following at December 31:

	2021		2020
Accounts receivable	$	11,199,847	$	9,298,135
Allowances for doubtful accounts	(75,901)		(92,792)
Accounts receivable, net	$	11,123,946	$	9,205,343

Accounts Receivable, Allowance for Credit Loss

Allowances for doubtful accounts consists of the following at December 31:

	2021		2020
Balance at beginning of period	$	92,792	$	69,433
Effect of adoption of ASU No. 2016-13	—		47,011
Charged to income	7,039		26,942
Translation Adjustments	(1,963)		510
Write-offs	(21,967)		(51,104)
Balance at end of period	$	75,901	$	92,792

The company has considered the current credit condition of its customers in estimating the expected credit losses and has not experienced significant changes in customers’ payment trends or significant deterioration in customers’ credit risk as of December 31, 2021. The global economic impact from COVID-19 may adversely affect the credit condition of some of our customers. The impact of COVID-19 on our customers’ credit condition is highly uncertain and will largely depend on the outcome of future events that are outside of our control, which could cause credit losses to increase.

Transfer of Financial Assets Accounted for as Sales

Sales of accounts receivables to unaffiliated financial institutions under the EMEA asset securitization program at December 31:

	2021		2020
EMEA asset securitization, sales of accounts receivables	$	2,193,983	$	1,936,089

Other amounts related to the EMEA asset securitization program as of December 31:

	2021		2020
Receivables sold to unaffiliated financial institutions that were uncollected	$	453,292	$	397,914
Collateralized accounts receivable held by Arrow EMEA funding Corp B.V.	745,965		551,843