Note 3 - Trade Accounts Receivable

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Financing Receivables [Text Block]

3. TRADE ACCOUNTS RECEIVABLE

The Company's receivables result primarily from the sale of transportation and logistics services. The Company performs ongoing credit evaluations of its customers and generally does not require collateral for accounts receivable. Accounts receivable, which consist of both billed and unbilled receivables, are presented net of current estimated credit losses. Accounts outstanding longer than contractual payment terms are considered past due and are reviewed individually for collectability. Accounts receivable balances consist of the following components as of December 31, 2023 and 2022:

	2023			2022
	(in thousands)
Billed	$	75,653		$	119,552
Unbilled		12,668			20,568
Current estimated credit losses		(7,717	)		(5,381	)
Total accounts receivable—net	$	80,604		$	134,739

An analysis of changes in current estimated credit losses for the years ended December 31, 2023, 2022, and 2021 follows:

	2023			2022			2021
	(in thousands)
Balance—beginning of year	$	5,381		$	4,526		$	3,482
Provision for bad debts		2,396			917			1,044
Charge-offs		(60	)		(62	)		-
Recoveries		-			-			-
Balance—end of year	$	7,717		$	5,381		$	4,526