Annual report pursuant to Section 13 and 15(d)

ACCOUNTS RECEIVABLE

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ACCOUNTS RECEIVABLE
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
Accounts receivable at December 31 consists of:
(In thousands) 2023 2022
Trade Accounts Receivable $ 134,980  $ 123,071 
Unbilled Recoverable Costs and Accrued Profits 46,321  27,349 
Total Receivables, Gross 181,301  150,420 
Less Allowance for Estimated Credit Losses (9,193) (2,630)
Total Receivables, Net $ 172,108  $ 147,790 
In November 2023, a non-core contract manufacturing customer reported within the Aerospace segment filed for bankruptcy under Chapter 11. As a result, the Company recorded a full reserve of $7.5 million for outstanding accounts receivable.
The following table provides a rollforward of the allowance for estimated credit losses that is deducted from accounts receivable to present the net amount expected to be collected at December 31:
(In thousands)
Balance at December 31, 2021
 $ 3,183 
Bad Debt Expense, Net of Recoveries 565 
Write-off Charges Against the Allowance and Other Adjustments (1,118)
Balance at December 31, 2022
 2,630 
Bad Debt Expense, Net of Recoveries 7,772 
Write-off Charges Against the Allowance and Other Adjustments (1,209)
Balance at December 31, 2023
 $ 9,193