Knight-Swift Transportation Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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Trade Receivables, net
Note 6 —Trade Receivables, net
Trade receivables, net balances were comprised of the following:
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Trade customers | $800,873 | $807,458 |
| Equipment manufacturers | 8,479 | 24,903 |
| Insurance premiums | 2,179 | 33,000 |
| Other | 29,962 | 62,700 |
| Trade receivables | 841,493 | 928,061 |
| Less: Allowance for doubtful accounts | (37,797) | (39,458) |
| Trade receivables, net | $803,696 | $888,603 |
The following is a rollforward of the allowance for doubtful accounts for trade receivables:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| (In thousands) | |||
| Beginning balance | $39,458 | $22,980 | $21,663 |
| Provision | 2,913 | 19,116 | 13,078 |
| Recoveries | (743) | — | — |
| Write-offs directly against the reserve | (1,806) | (2,431) | (994) |
| Write-offs for revenue adjustments | (2,025) | (1,520) | (11,517) |
| Other 1 | — | 1,313 | 750 |
| Ending balance | $37,797 | $39,458 | $22,980 |
1 Represents allowance for doubtful trade accounts receivable assumed in 2023 from the Company's acquisitions. Represents measurement period adjustment during 2022 related to the MME acquisition. See Note 4 for further details regarding these acquisitions.
See Note 12 for a discussion of the Company's accounts receivable securitization program and the related accounting treatment.
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