Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Policies)

v3.24.2.u1
Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Credit Loss, Financial Instrument [Policy Text Block]

Allowance for credit losses and other – The Company estimates the current expected credit losses based primarily using either an aging analysis or discounted cash flow methodology that incorporates consideration of current and future conditions that could impact its counterparties’ credit quality and liquidity. Uncollectible receivables are written off when a settlement is reached for an amount that is less than the outstanding historical balance or when the Company has determined that the balance will not be collected.

 

The following table provides an analysis of the change of the aggregate credit loss allowance and other allowances.

 

   

Three Months Ended June 30,

    

Six Months Ended June 30,

  
   

2024

    

2023

    

2024

    

2023

  
   

(in thousands)

                  

Allowance for credit losses and other

                                

Balance at beginning of period

   $ (7,829 )   $ (12,832 )   $ (6,029 )   $ (8,704 )

Credit loss charges and other, net of receipts

     (3,341 )     (680 )     (5,153 )     (1,615 )

Cumulative effect of adjustment upon adoption of ASU 2016-13 on January 1, 2023

     —       —       —       (3,120 )

Foreign currency gain (loss)

     (1,434 )     (7 )     (1,422 )     (80 )

Balance at end of period

   $ (12,604 )   $ (13,519 )   $ (12,604 )   $ (13,519 )

 
Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair value of financial instruments

 

     

As of June 30, 2024

  
 

Balance Sheet Line

  

Level 1

    

Level 2

    

Level 3

    

Total

  
     

(in thousands)

  

Assets

                                  

Derivative asset

Prepayments and other

   $ —     $ —     $ —     $ —  
      $ —     $ —     $ —     $ —  

Liabilities

                                  

Derivative liability

Accrued liabilities and other

   $ —     $ 155     $ —     $ 155  
      $ —     $ 155     $ —     $ 155  

 

`

      

As of December 31, 2023

  
   

Balance Sheet Line

  

Level 1

    

Level 2

    

Level 3

    

Total

  
       

(in thousands)

  

Assets

                                    

Derivative asset

  

Prepayments and other

   $ —     $ 403     $ —     $ 403  
      $ —     $ 403     $ —     $ 403  

Liabilities

                                    

SARs liability

  

Accrued liabilities and other

   $ —     $ 163     $ —     $ 163  
      $ —     $ 163     $ —     $ 163