The following table shows the breakdown in trade receivables net book value for the presented periods:


	Year Ended December 31,
	2025	2024
	(in thousands)
Trade accounts receivables	$607,983	$829,462
(Less) Allowance for doubtful accounts	(25,881)	(28,603)
Net carrying value at end of period	$582,102	$800,859


	Year Ended December 31,
	2025	2024	2023
	(in thousands)
Balance at beginning of period	$(28,603)	$(43,348)	$(47,792)
Provision for doubtful accounts	(11,524)	(12,910)	(15,709)
Write-offs, net of recoveries	15,553	26,695	21,027
Currency translation adjustment	(1,307)	960	(874)
Balance at end of period	$(25,881)	$(28,603)	$(43,348)

Accounts receivable balances are written-off once the receivables are no longer deemed collectible.

During the years ended December 31, 2025, 2024 and 2023, the Company recovered $4.5 million, $7.6 million and

$1.4 million, previously reserved for, and accounted for this as a reversal of provision.

During 2025, a large US retailer – that is a customer primarily in the Company's Performance Media segment –

experienced financial difficulty and subsequently filed for bankruptcy. As of year end 2025, the Company recorded a full