Accounts Receivable

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Accounts Receivable

Accounts Receivable

Accounts receivable includes trade receivables. In connection with certain sales in Asia, the Company accepts a bank promissory note as customer payment. The notes may be presented for payment at maturity, which is less than one year. As of March 31, 2023 and December 31, 2022, Accounts receivable consisted of the following:

(in thousands)	March 31, 2023		December 31, 2022
Trade and other accounts receivable	$	199,290	$	179,676
Bank promissory notes	20,196		23,439
Allowance for expected credit losses	(3,451)		(3,097)
Accounts receivable, net	$	216,035	$	200,018

The Company has Noncurrent receivables in the AEC segment that represent revenue earned, which has extended payment terms. The Noncurrent receivables will be invoiced to the customer over a 10-year period, which began in 2020. As of March 31, 2023 and December 31, 2022, Noncurrent receivables consisted of the following:

(in thousands)	March 31, 2023		December 31, 2022
Noncurrent receivables	$	27,459	$	28,053
Allowance for expected credit losses	(137)		(140)
Noncurrent receivables, net	$	27,322	$	27,913