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Financing and Trade Receivables (Tables)
 3 Months Ended
Apr. 01, 2022
Credit Loss [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The components of financing receivables with payments due in less than twelve months that are recorded in Accounts receivable less allowance for credit losses on the Consolidated Condensed Balance Sheets were as follows:
($ in millions)April 1, 2022December 31, 2021
Gross current financing receivables:
PSAs$96.8 $98.4 
Franchisee Notes15.4 15.5 
Current financing receivables, gross$112.2 $113.9 
Allowance for credit losses:
PSAs$16.1 $16.9 
Franchisee Notes6.6 6.5 
Total allowance for credit losses22.7 23.4 
Total current financing receivables, net$89.5 $90.5 
Net current financing receivables:
PSAs, net$80.7 $81.5 
Franchisee Notes, net8.8 9.0 
Total current financing receivables, net$89.5 $90.5 

The components of financing receivables with payments due beyond one year were as follows:

($ in millions)April 1, 2022December 31, 2021
Gross long-term financing receivables:
PSAs$220.5 $219.7 
Franchisee Notes63.6 64.5 
Long-term financing receivables, gross$284.1 $284.2 
Allowance for credit losses:
PSAs$35.5 $37.2 
Franchisee Notes5.3 5.3 
Total allowance for credit losses40.8 42.5 
Total long-term financing receivables, net$243.3 $241.7 
Net long-term financing receivables:
PSAs, net$185.0 $182.5 
Franchisee Notes, net58.3 59.2 
Total long-term financing receivables, net$243.3 $241.7 
Financing Receivable Credit Quality Indicators
The amortized cost basis of PSAs and Franchisee Notes by origination year as of April 1, 2022, is as follows:
($ in millions)20222021202020192018PriorTotal
PSAs
Credit Score:
Less than 400$5.3 $14.7 $6.9 $4.0 $1.6 $0.6 $33.1 
400-5997.8 20.1 11.5 5.9 2.7 1.0 49.0 
600-79917.4 41.8 22.2 11.4 4.8 1.7 99.3 
800+26.7 58.6 29.0 14.2 5.9 1.5 135.9 
Total PSAs$57.2 $135.2 $69.6 $35.5 $15.0 $4.8 $317.3 
Franchisee Notes
Active distributors$9.0 $26.2 $11.3 $10.7 $5.5 $6.3 $69.0 
Separated distributors0.1 0.3 0.8 2.1 1.6 5.1 10.0 
Total Franchisee Notes$9.1 $26.5 $12.1 $12.8 $7.1 $11.4 $79.0 
Financing Receivable, Past Due PSAs are considered past due when a contractual payment has not been made. If a customer is making payments on its account, interest will continue to accrue. The table below sets forth the aging of the Company’s PSA balances as of:
($ in millions)30-59 days past due60-90 days past dueGreater than 90 days past dueTotal past dueTotal not considered past dueTotalGreater than 90 days past due and accruing interest
April 1, 2022$3.1 $1.6 $6.1 $10.8 $306.5 $317.3 $6.1 
December 31, 20213.3 1.7 6.5 11.5 306.6 318.1 6.5 
Financing Receivable, Allowance for Credit Loss The following is a rollforward of the PSAs and Franchisee Notes components of the Company’s allowance for credit losses related to financing receivables as of:
April 1, 2022December 31, 2021
($ in millions)PSAsFranchisee NotesTotalPSAsFranchisee NotesTotal
Allowance for credit losses, beginning of year$54.1 $11.8 $65.9 $54.3 $12.5 $66.8 
Provision for credit losses5.7 1.3 7.0 24.9 4.2 29.1 
Write-offs(8.7)(1.2)(9.9)(27.5)(5.6)(33.1)
Recoveries of amounts previously charged off0.5 — 0.5 2.4 0.7 3.1 
Allowance for credit losses, end of period$51.6 $11.9 $63.5 $54.1 $11.8 $65.9 
Accounts Receivable, Allowance for Credit Loss
The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of:
($ in millions)April 1, 2022December 31, 2021
Cost basis of trade accounts receivable$359.9 $406.3 
Allowance for credit losses balance, beginning of year15.5 18.1 
Provision for credit losses0.9 7.7 
Write-offs(1.2)(10.2)
Foreign currency and other— (0.1)
Allowance for credit losses balance, end of period15.2 15.5 
Net trade accounts receivable balance$344.7 $390.8