| Schedule of allowance for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Credit Losses |
|
|
Trade |
|
Financed |
|
Total |
(in thousands) |
|
Receivables |
|
Receivables |
|
Receivables |
Balance at December 31, 2019 |
|
$ |
16,699 |
|
$ |
2,959 |
|
$ |
19,658 |
Adoption of ASC 326 |
|
|
(3,330) |
|
|
- |
|
|
(3,330) |
Provision for expected credit losses |
|
|
14,699 |
|
|
2,837 |
|
|
17,536 |
Write-offs charged against the allowance |
|
|
(18,228) |
|
|
(2,565) |
|
|
(20,793) |
Recoveries collected |
|
|
7,014 |
|
|
— |
|
|
7,014 |
Balance at December 31, 2020 |
|
$ |
16,854 |
|
$ |
3,231 |
|
$ |
20,085 |
Provision for expected credit losses |
|
|
11,732 |
|
|
3,553 |
|
|
15,285 |
Write-offs charged against the allowance |
|
|
(19,882) |
|
|
(2,799) |
|
|
(22,681) |
Recoveries collected |
|
|
5,181 |
|
|
— |
|
|
5,181 |
Balance at December 31, 2021 |
|
$ |
13,885 |
|
$ |
3,985 |
|
$ |
17,870 |
Provision for expected credit losses |
|
|
13,701 |
|
|
5,740 |
|
|
19,441 |
Write-offs charged against the allowance |
|
|
(18,861) |
|
|
(4,757) |
|
|
(23,618) |
Recoveries collected |
|
|
5,348 |
|
|
— |
|
|
5,348 |
Balance at December 31, 2022 |
|
$ |
14,073 |
|
|
4,968 |
|
$ |
19,041 |
|
| Summary of the past due financing receivables |
The following is a summary of the past due financing receivables:
|
|
|
|
|
|
|
At December 31, |
|
2022 |
|
2021 |
(in thousands) |
|
|
|
|
|
|
30-59 days past due |
|
$ |
4,269 |
|
$ |
1,911 |
60-89 days past due |
|
|
1,913 |
|
|
1,058 |
90 days or more past due |
|
|
3,781 |
|
|
2,886 |
Total |
|
$ |
9,963 |
|
$ |
5,855 |
The following is a summary of percentage of gross financing receivables:
|
|
|
|
|
|
At December 31, |
|
2022 |
|
2021 |
|
Current |
|
90.2 |
% |
91.7 |
% |
30-59 days past due |
|
4.2 |
% |
2.7 |
% |
60-89 days past due |
|
1.9 |
% |
1.5 |
% |
90 days or more past due |
|
3.7 |
% |
4.1 |
% |
Total |
|
100.0 |
% |
100.0 |
% |
|