Trade and Other Receivables

3 Months Ended

Mar. 31, 2024

12. Trade and Other Receivables

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


	March 31, 2024		December 31, 2023
Advanced charges receivable	$	354.5	$	374.7
Trade accounts receivable	559.7		315.8
Consumption taxes receivable	12.1		21.1
Loans receivable	22.4		21.8
Other receivables	4.3		4.5
Trade and other receivables, gross	953.0		737.9
Less: allowance for credit losses	(8.4)		(6.4)
Trade and other receivables, net	$	944.6	$	731.5

The following table presents the activity in the allowance for expected credit losses for the three months ended March 31, 2024:


Balance at December 31, 2023	$	6.4
Current period provision	3.2
Write-offs charged against the allowance	(1.2)
Balance at March 31, 2024	$	8.4

Loans Receivable

The Company participates 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 March 31, 2024 was $41.4 million, of which $22.4 million is recorded in trade and other receivables and $19.0 million in non-current assets (December 31, 2023: $37.7 million, of which $21.8 million was recorded in trade and other receivables and $15.9 million in non-current assets). The expected credit loss allowance is not significant.