The Company provides an allowance for expected credit losses on its nonrental receivables. To measure the expected credit losses, receivables have been grouped based on shared credit risk characteristics as shown in the table below.

Trade and unbilled receivables from contracts with customers have credit risk and the allowance is determined by applying expected credit loss percentages to aging categories based on historical experience that are updated each quarter. The rates may also be adjusted to the extent future events are expected to differ from historical results. In addition, the allowance is adjusted based on information obtained by continued monitoring of individual customer credit.

Short-term receivables from finance companies, other receivables due from manufacturers, and other receivables have not historically resulted in any credit losses to the Company. These receivables are short-term in nature and deemed to be of good credit quality and have no need for any allowance for expected credit losses. Management continually monitors these receivables and should information be obtained that identifies potential credit risk, an adjustment to the allowance would be made if deemed appropriate.

Trade and unbilled receivables from rental contracts are primarily in the United States and are specifically excluded from the accounting guidance in determining an allowance for expected losses. The Company provides an allowance for these receivables based on historical experience and using credit information obtained from continued monitoring of customer accounts.


	July 31, 2025		January 31, 2025
	(in thousands)
Trade and unbilled receivables from contracts with customers
Trade receivables due from customers	$	66,757	$	49,777
Unbilled receivables	30,269		24,584
Less allowance for expected credit losses	(2,277)		(1,994)
	94,749		72,367

Short-term receivables due from finance companies	15,180		16,793

Trade and unbilled receivables from rental contracts
Trade receivables	5,397		4,015
Unbilled receivables	1,207		580
Less allowance for expected credit losses	(594)		(578)
	6,010		4,017
Other receivables
Due from manufacturers	11,070		25,692
Other	599		945
	11,669		26,637
Receivables, net of allowance for expected credit losses	$	127,608	$	119,814


	Agriculture		Construction		Europe		Australia		Total
	(in thousands)
Balance at January 31, 2025	$	605	$	209	$	1,132	48		$	1,994
Current expected credit loss provision	86		28		257		70		441
Write-offs charged against allowance	(239)		(71)		—		(28)		(338)
Credit loss recoveries collected	24		8		4		—		36
Foreign exchange impact	—		—		139		5		144
Balance at July 31, 2025	$	476	$	174	$	1,532	$	95	$	2,277


	Agriculture		Construction		Europe		Australia		Total
	(in thousands)
Balance at January 31, 2024	$	164	$	177	$	2,638	59		$	3,038
Current expected credit loss provision	146		110		(81)		38		213
Write-offs charged against allowance	(46)		(122)		(42)		(31)		(241)
Credit loss recoveries collected	2		34		57		—		93
Foreign exchange impact	—		—		(26)		(1)		(27)
Balance at July 31, 2024	$	266	$	199	$	2,546	$	65	$	3,076

The following table presents impairment losses (recoveries) on receivables arising from sales contracts with customers and receivables arising from rental contracts reflected in Operating Expenses in the Condensed Consolidated Statements of Operations:


	Three Months Ended July 31,				Six Months Ended July 31,
	2025		2024		2025		2024
	(in thousands)
Impairment losses (recoveries) on:
Receivables from sales contracts	$	211	$	(61)	$	391	$	213
Receivables from rental contracts	27		16		55		130
	$	238	$	(45)	$	446	$	343