Note 5 - Accounts Receivable

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Financing Receivables [Text Block]

5. Accounts Receivable:

Accounts receivable are presented net of allowances for credit losses and unissued credits of $4.3 million and $4.4 million as of December 31, 2022 and 2021, respectively. Credit loss expense totaled $2.2 million, $1.3 million and $1.2 million in 2022, 2021 and 2020, respectively. The allowance for credit losses is maintained at a level considered appropriate based on historical experience, specific customer collection issues that have been identified, current market conditions and estimates for supportable forecasts when appropriate. Estimations are based upon a calculated percentage of accounts receivable, which remains fairly level from year to year, and judgments about the probable effects of economic conditions on certain customers, which can fluctuate significantly from year to year. The Company cannot guarantee that the rate of future credit losses will be similar to past experience. The Company considers all available information when assessing the adequacy of its allowance for credit losses and unissued credits.