Trade and Other Receivables

9 Months Ended

Sep. 30, 2023

14. Trade and Other Receivables

The Company generally has possession of assets or asset titles collateralizing a significant portion of trade receivables.


	September 30, 2023		December 31, 2022
Advanced charges receivable	$	359.8	$	—
Trade accounts receivable	489.2		143.8
Consumption taxes receivable	16.8		31.2
Other receivables	47.8		11.5
Trade and other receivables, gross	913.6		186.5
Less: allowance for credit losses	(4.9)		(3.3)
Trade and other receivables, net	$	908.7	$	183.2

Other receivables include $30.7 million (December 31, 2022: nil) for amounts to be collected from landlords of certain leased facilities for reimbursement of leasehold improvements.

The following table presents the activity in the allowance for expected credit losses for the nine-month period ended September 30, 2023:


Balance at December 31, 2022	$	3.3
Current period provision	3.7
Write-offs charged against the allowance	(2.1)
Balance at September 30, 2023	$	4.9

Loans Receivable

At September 30, 2023, the Company participated in certain financing lending arrangements that are fully collateralized and secured by certain equipment. These financing lending arrangements have a term of one to four years. In the event of default under these agreements, the Company will take possession of the equipment as collateral to recover its loans receivable balance. The loans receivable balance at September 30, 2023 was $39.6 million, of which $11.5 million is recorded in trade and other receivables and $28.1 million in non-current assets (December 31, 2022: $23.4 million, of which $8.0 million was recorded in trade and other receivables and $15.4 million in non-current assets). The expected credit loss allowance is not significant.