Trade Accounts Receivable Net of Allowances and Net Contract Assets (Liabilities) |
Trade accounts receivable, net of allowances, and net contract assets (liabilities) consisted of the following:
(In thousands, except percentages) |
|
November 30, 2020 |
|
|
August 31, 2020 |
|
|
$ Change |
|
|
% Change |
|
Trade accounts receivable, less allowances |
|
$ |
1,081,841 |
|
|
$ |
1,159,130 |
|
|
$ |
(77,289 |
) |
|
|
-6.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract assets |
|
$ |
27,154 |
|
|
$ |
36,292 |
|
|
$ |
(9,138 |
) |
|
|
-25.2 |
% |
Contract liabilities - short-term |
|
|
(28,310 |
) |
|
|
(25,605 |
) |
|
|
(2,705 |
) |
|
|
10.6 |
% |
Net Contract Assets (Liabilities) |
|
$ |
(1,156 |
) |
|
$ |
10,687 |
|
|
$ |
(11,843 |
) |
|
|
-110.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands, except percentages) |
|
November 30, 2020 |
|
|
May 31, 2020 |
|
|
$ Change |
|
|
% Change |
|
Trade accounts receivable, less allowances |
|
$ |
1,081,841 |
|
|
$ |
1,137,957 |
|
|
$ |
(56,116 |
) |
|
|
-4.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract assets |
|
$ |
27,154 |
|
|
$ |
25,249 |
|
|
$ |
1,905 |
|
|
|
7.5 |
% |
Contract liabilities - short-term |
|
|
(28,310 |
) |
|
|
(25,288 |
) |
|
|
(3,022 |
) |
|
|
12.0 |
% |
Net Contract (Liabilities) |
|
$ |
(1,156 |
) |
|
$ |
(39 |
) |
|
$ |
(1,117 |
) |
|
|
|
|
|
Summary of Activity for Allowance for Credit Losses |
The following tables summarize the activity for the allowance for credit losses for the three and six months ended November 30, 2020:
(In thousands) |
|
|
|
|
Balance at August 31, 2020 |
|
$ |
55,927 |
|
Bad debt provision |
|
|
(106 |
) |
Uncollectible accounts written off, net of recoveries |
|
|
(2,493 |
) |
Translation adjustments |
|
|
214 |
|
Balance at November 30, 2020 |
|
$ |
53,542 |
|
|
|
|
|
|
(In thousands) |
|
|
|
|
Balance at June 1, 2020 |
|
$ |
55,847 |
|
Bad debt provision |
|
|
1,168 |
|
Uncollectible accounts written off, net of recoveries |
|
|
(5,347 |
) |
Translation adjustments |
|
|
1,874 |
|
Balance at November 30, 2020 |
|
$ |
53,542 |
|
|