Annual report [Section 13 and 15(d), not S-K Item 405]

ACCOUNTS RECEIVABLE

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ACCOUNTS RECEIVABLE
 12 Months Ended
Dec. 28, 2024
Receivables [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
The following table presents components of "accounts receivable, net" recorded in the Company's balance sheets:
(In thousands) December 2024 December 2023
Trade $ 235,774  $ 200,911 
Royalty and other 14,324  23,977 
Total accounts receivable 250,098  224,888 
Less: allowance for doubtful accounts (6,438) (7,215)
Accounts receivable, net $ 243,660  $ 217,673 
Allowance for Doubtful Accounts
The following table presents a rollforward of the allowance for doubtful accounts:
(In thousands)
Balance, December 2022 $ 9,918 
Decrease in provision for expected credit losses (807)
Accounts receivable balances written off
 (2,388)
Other (1)
492 
Balance, December 2023 $ 7,215 
Increase in provision for expected credit losses 670 
Accounts receivable balances written off (1,215)
Other (1)
(232)
Balance, December 2024 $ 6,438 
(1) Other primarily includes the impact of foreign currency translation and recoveries of amounts previously written off, none of which were individually significant.
Sale of Trade Accounts Receivable
The Company is party to an agreement with a financial institution to sell selected trade accounts receivable on a nonrecourse basis. Under this agreement, up to $377.5 million of the Company’s trade accounts receivable may be sold to the financial institution and remain outstanding at any point in time. The Company removes the sold balances from "accounts receivable, net" in its balance sheet at the time of sale. The Company does not retain any interests in the sold trade accounts receivable but continues to service and collect outstanding trade accounts receivable on behalf of the financial institution.
The Company sold total trade accounts receivable of $1.4 billion during 2024, 2023, and 2022. As of December 2024 and December 2023, $178.2 million and $197.7 million, respectively, of the sold trade accounts receivable remained outstanding with the financial institution.
The funding fees charged by the financial institution for this program are reflected in the Company's statements of operations within "other expense, net" and were $11.7 million, $12.0 million and $5.6 million in 2024, 2023 and 2022, respectively. Net proceeds of this program are reflected as operating activities in the Company's statements of cash flows.