ACCOUNTS RECEIVABLE, NET

6 Months Ended

Jun. 30, 2024

Accounts receivable, less allowance for doubtful accounts, reflects the net realizable value of receivables and approximates fair value. Unbilled revenue is recorded at estimated net realizable value. Assessing the collectability of the receivables (billed and unbilled) requires management judgment based on a combination of factors, including but not limited to, an evaluation of our historical incurred loss experience, credit-worthiness of our clients, age of the trade receivable balance, current economic conditions that may affect a client’s ability to pay, and reasonable and supportable forecasts. Receivables are charged-off against the allowance when the balance is deemed uncollectible.

Accounts receivable, net, at June 30, 2024 and December 31, 2023 was as follows (in thousands):


	June 30, 2024		December 31, 2023
Trade accounts receivable	$	365,199	$	309,640
Unbilled revenue, at net realizable value	147,040		96,110
Total accounts receivable	512,239		405,750
Allowance for doubtful accounts	(34,398)		(25,598)
Accounts receivable, net	$	477,841	$	380,152

Changes to the allowance for doubtful accounts for the six months ended June 30, 2024 and twelve months ended December 31, 2023 were as follows (in thousands):


	June 30, 2024		December 31, 2023
Balance at beginning of period	$	(25,598)	$	(20,801)
Provision	(11,119)		(13,681)
Charge-offs, net of recoveries	2,319		8,884
Allowance for doubtful accounts	$	(34,398)	$	(25,598)