v3.24.3
Revenue and Accounts Receivable, Net
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Revenue and Accounts Receivable, Net Revenue and Accounts Receivable, Net
Revenue Details    

The pattern of revenue recognition was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2024202320242023
Goods and services transferred at a point in time$85,186 $83,855 $235,572 $249,908 
Goods and services transferred over time16,88723,24048,85372,955 
Net sales$102,073 $107,095 $284,425 $322,863 
Our net sales to external customers by geographic area were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2024202320242023
United States$25,833 $31,737 $71,455 $97,892 
Asia (excluding PRC)20,78520,107 57,89366,508 
Europe22,58322,52960,83768,598
PRC17,74719,04949,56049,082
Latin America9,1648,22726,88824,408
Other5,9615,44617,79216,375
Total net sales$102,073 $107,095 $284,425 $322,863 

Specific identification of the customer billing location was the basis used for attributing revenues from external customers to geographic areas.

Net sales to the following customers totaled more than 10% of our net sales:
 Three Months Ended September 30,
20242023
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $12,620 12.4 %$15,194 14.2 %
Sony Corporation$10,841 10.6 %$11,825 11.0 %

 Nine Months Ended September 30,
20242023
 $ (thousands)% of Net Sales$ (thousands)% of Net Sales
Daikin Industries Ltd. $37,658 13.2 %$48,401 15.0 %
Comcast Corporation
(1)
(1)
$34,436 10.7 %
(1)    Sales associated with this customer did not total more than 10% of our net sales for the indicated period.

Accounts Receivable, Net

Accounts receivable, net were as follows:
(In thousands)September 30, 2024December 31, 2023
Trade receivables, gross$102,127 $106,182 
Allowance for credit losses(841)(815)
Allowance for sales returns(343)(532)
Trade receivables, net100,943 104,835 
Other (1)
5,686 7,761 
Accounts receivable, net$106,629 $112,596 
(1)Other accounts receivable is primarily comprised of value added tax receivables, interest receivable and supplier rebate receivables.
Allowance for Credit Losses

Changes in the allowance for credit losses were as follows:
(In thousands)Nine Months Ended September 30,
20242023
Balance at beginning of period$815 $957 
Additions (reductions) to costs and expenses17 69 
Write-offs/Foreign exchange effects9 (207)
Balance at end of period$841 $819 

There were no significant customers that totaled more than 10% of our accounts receivable at September 30, 2024 or December 31, 2023.

Contract Liabilities

We have current and non-current contract liability balances primarily relating to our firmware update provisioning and digital rights management validation services. Contract liabilities are included within other accrued liabilities in our consolidated balance sheets.

Changes in the carrying amount of contract liabilities were as follows: 
(In thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Balance at beginning of period$4,717 $2,931 $3,501 $1,931 
Payments received981 862 4,444 4,314 
Revenue recognized(1,697)(1,001)(3,922)(3,453)
Foreign exchange effects31 — 9 — 
Balance at end of period$4,032 $2,792 $4,032 $2,792