Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2023

Valuation Allowance [Abstract]

Allowance for Doubtful Accounts

Allowance for Credit Losses

In accordance with ASC Topic 326, Financial Instruments - Credit Losses, the Company evaluates its allowance based on expected losses rather than incurred losses, which is known as the current expected credit loss model. The allowance is determined using the loss rate approach and is measured on a collective (pool) basis when similar risk characteristics exist. Where financial instruments do not share risk characteristics, they are evaluated on an individual basis. The allowance is based on relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts.

Activity in the allowance for credit losses is summarized as follows for the years presented (in millions):

	Year Ended December 31,
	2023		2022		2021
Balance at January 1	$	5.8	$	2.9	$	1.1
Charges to expense, net of recoveries	(1.5)		3.6		1.8
Other (1)	(1.8)		(0.7)		—
Balance at December 31	$	2.5	$	5.8	$	2.9

(1)Other is primarily related to uncollected balances written off, business acquisitions and currency translation adjustments.