Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 314

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 2
Chunk 314
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 considered past due and are reviewed individually for collectability. Accounts receivable balances consist of the following components as of  December 31, 2024 and 2023:

       2024    2023  
   (in thousands)  
         
 Billed  $78,521  $75,653 
 Unbilled   8,082   12,668 
 Current estimated credit losses   (6,636)  (7,717)
         
 Total accounts receivable—net  $79,967  $80,604 

   An analysis of changes in current estimated credit losses for the years ended  December 31, 2024, 2023, and 2022 follows:

       2024    2023    2022  
   (in thousands)  
             
 Balance—beginning of year  $7,717  $5,381  $4,526 
 Provision for bad debts   3,074   2,396   917 
 Charge-offs   (4,155)  (60)  (62)
 Recoveries   -   -   - 
             
 Balance—end of year  $6,636  $7,717  $5,381 

    4.  MARKETABLE EQUITY SECURITIES 

   The Company accounts for its marketable securities in accordance with ASC Topic 321, Investments - Equity Securities. ASC Topic 321 requires companies to measure equity investments at fair value, with changes in fair value recognized in net income. The Company’s investments in marketable securities consist of equity securities with readily determinable fair values. The cost of securities sold is based on the specific identification method, and interest and dividends on securities are included in non-operating income (expense).
    
   Marketable equity securities are carried at fair value, with changes in fair market value included in the determination of net income. The fair market value of marketable equity securities is determined based on quoted market prices in active markets. See Note 18 – Fair Value of Financial Instruments for additional information regarding the valuation of marketable equity securities.
    
   The following table sets forth cost, market value and unrealized gain on equity securities classified as available-for-sale as of  December 31, 2024 and 2023.

       2024    202