

4. Receivables	2018			2017
	(In millions)
Accounts receivable	$	63.0		$	84.2
Gift card receivables	47.9			51.6
Notes receivable	28.9			11.3
Financing receivables:
Equipment leases receivable	65.8			79.3
Direct financing leases receivable	44.9			55.7
Franchise fee notes receivable	0.2			0.3
Other	7.1			6.5
	257.8			288.9
Less: allowance for doubtful accounts and notes receivable	(17.2		)	(22.2		)
	240.6			266.8
Less: current portion	(137.5		)	(140.2		)
Long-term receivables	$	103.1		$	126.6

Accounts receivable primarily includes receivables due from franchisees and distributors. Gift card receivables consist primarily of amounts due from third-party vendors. Interest is not charged on gift card receivables.

Notes receivable primarily relate to the conversion of certain franchisee accounts receivable to notes receivable, cash loans made to franchisees and a note receivable in connection with the sale of IHOP restaurants (See Note 20 - Refranchising of Company-operated Restaurants. of the Notes to Consolidated Financial Statements). The notes bear interest averaging 4.8% and 4.6% per annum at December 31, 2018 and 2017, respectively, and are collateralized by the franchise.

Financing receivables primarily relate to IHOP franchise development activity prior to 2003 when IHOP typically leased or purchased the restaurant site, built and equipped the restaurant then franchised the restaurant to a franchisee. IHOP provided the financing for the franchise fee, leasing of the equipment and the leasing or subleasing of the site. Equipment lease contracts are due in equal weekly installments, primarily bear interest averaging 9.9% and 9.7% per annum at December 31, 2018 and 2017, respectively, and are collateralized by the equipment. The term of an equipment lease contract coincides with the term of the corresponding restaurant building lease. The IHOP franchise fee notes have a term of five to eight years and are due in equal weekly installments, primarily bear interest averaging 5.6% and 5.9% per annum at December 31, 2018 and 2017, respectively, and are collateralized by the franchise. Where applicable, franchise fee notes, equipment contracts and building leases contain cross-default provisions wherein a default under one constitutes a default under all. There is not a disproportionate concentration of credit risk in any geographic area.

The primary indicator of the credit quality of financing receivables is delinquency. As of December 31, 2018 and 2017, approximately $0.1 million and $0.1 million, respectively, of financing receivables were delinquent more than 90 days.

The following table summarizes the activity in the allowance for doubtful accounts and notes receivable:



Allowance for Doubtful Accounts	(In millions)
Balance at December 31, 2015	$	1.2
Provision	2.8
Charge-offs	(0.9		)
Balance at December 31, 2016	3.1
Provision	20.3
Charge-offs	(1.2		)
Balance at December 31, 2017	22.2
Provision	10.3
Charge-offs	(15.3		)
Balance at December 31, 2018	$	17.2

As of December 31, 2018 and 2017, approximately $0.1 million and $0.1 million, respectively, of the allowance for doubtful accounts related to financing receivables.