RECEIVABLES (Tables)

9 Months Ended

Sep. 30, 2021

Financing receivable credit quality indicators

The table below summarizes the amortized cost basis of financial assets by years of origination and credit quality. The key credit quality indicator is updated as of September 30, 2021.


(In millions)	Year of origination	Balance as of September 30, 2021		Balance as of December 31, 2020
Loans receivables, security deposits and other
Moody’s rating Ba2	2019	$	76.1	$	107.6

Debt securities at amortized cost
Moody’s rating B3	2019	25.9		23.7
Total financial assets		$	102.0	$	131.3

Financing receivable, allowance for credit loss

The table below shows the roll-forward of allowance for credit losses as of September 30, 2021 and 2020, respectively.


	Balance as of September 30, 2021
(In millions)	Trade receivables		Contract assets		Loans receivable		Security deposit and other		Held-to-maturity debt securities
Allowance for credit losses at December 31, 2020	$	40.2	$	2.4	$	7.5	$	0.4	$	0.5
Current period provision (release) for expected credit losses	(0.7)		(0.5)		(0.1)		(0.1)		2.2

Recoveries	(1.2)		(0.7)		—		—		—
Allowance for credit losses at September 30, 2021	$	38.3	$	1.2	$	7.4	$	0.3	$	2.7


	Balance as of September 30, 2020
(In millions)	Trade receivables		Contract assets		Loans receivable		Security deposit and other		Held-to-maturity debt securities
Allowance for credit losses at December 31, 2019	$	59.4	$	4.5	$	9.5	$	0.7	$	1.1
Current period provision for expected credit losses	35.7		0.1		0.1		—		—

Recoveries	(6.2)		(2.8)		(0.6)		—		—
Allowance for credit losses at September 30, 2020	$	88.9	$	1.8	$	9.0	$	0.7	$	1.1