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18. Valuation and qualifying accounts
The Company’s valuation and qualifying accounts for the years ended December 31, 2024, 2023 and 2022 are as follows:
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Balance at |
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Additions |
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beginning |
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charged to |
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Changes to |
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Balance at |
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of year |
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earnings |
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reserve, net (1) |
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end of year |
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| Year ended December 31, 2024 |
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|
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| Allowance for credit losses |
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$ |
1,646 |
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|
$ |
702 |
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|
$ |
24 |
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|
$ |
2,372 |
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| Valuation of deferred tax assets |
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|
2,005 |
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|
|
- |
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|
|
(495 |
) |
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|
1,510 |
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| Year ended December 31, 2023 |
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| Allowance for credit losses |
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$ |
1,366 |
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|
$ |
320 |
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|
$ |
(40 |
) |
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$ |
1,646 |
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| Valuation of deferred tax assets |
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|
2,071 |
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|
|
- |
|
|
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(66 |
) |
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|
2,005 |
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| Year ended December 31, 2022 |
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| Allowance for credit losses |
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$ |
2,970 |
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|
$ |
(1,476 |
) |
|
$ |
(128 |
) |
|
$ |
1,366 |
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| Valuation of deferred tax assets |
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|
3,273 |
|
|
|
- |
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|
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(1,202 |
) |
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|
2,071 |
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| (1) |
Increases (deductions) from the allowance for credit losses equal accounts receivable written off and increases related to acquired businesses, less recoveries, against the allowance. See Note 2 for additional information. Increases (deductions) to the valuation of deferred tax assets relate to the reversals due to changes in management’s judgments regarding the future realization of the underlying deferred tax assets. |
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