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Receivables
9 Months Ended
Sep. 30, 2023
Receivables [Abstract]  
Receivables
8.
Receivables

Receivables consisted of the following (in millions):

 

 

September 30,
2023

 

 

December 31,
2022

 

Trade receivables - U.S. government

 

$

153.4

 

 

$

135.3

 

Trade receivables - other

 

 

1,310.0

 

 

 

979.5

 

Finance receivables

 

 

8.8

 

 

 

7.3

 

Notes receivable

 

 

14.9

 

 

 

 

Other receivables

 

 

90.1

 

 

 

53.3

 

 

 

1,577.2

 

 

 

1,175.4

 

Less allowance for doubtful accounts

 

 

(8.0

)

 

 

(6.7

)

 

$

1,569.2

 

 

$

1,168.7

 

Classification of receivables in the Condensed Consolidated Balance Sheets consisted of the following (in millions):

 

 

September 30,
2023

 

 

December 31,
2022

 

Current receivables

 

$

1,550.2

 

 

$

1,162.0

 

Long-term receivables

 

 

19.0

 

 

 

6.7

 

 

 

$

1,569.2

 

 

$

1,168.7

 

 

Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions):

 

 

Three Months Ended September 30, 2023

 

 

Three Months Ended September 30, 2022

 

 

 

Finance
Receivables

 

 

Trade and
Other
Receivables

 

 

Total

 

 

Finance
Receivables

 

 

Trade and
Other
Receivables

 

 

Total

 

Allowance at beginning of period

 

$

0.1

 

 

$

7.1

 

 

$

7.2

 

 

$

0.3

 

 

$

6.1

 

 

$

6.4

 

Acquisition of Business

 

 

 

 

 

1.8

 

 

 

1.8

 

 

 

 

 

 

 

 

 

 

Provision for doubtful accounts, net of recoveries

 

 

0.1

 

 

 

(0.3

)

 

 

(0.2

)

 

 

(0.1

)

 

 

0.8

 

 

 

0.7

 

Charge-off of accounts

 

 

 

 

 

(0.8

)

 

 

(0.8

)

 

 

(0.1

)

 

 

(0.3

)

 

 

(0.4

)

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance at end of period

 

$

0.2

 

 

$

7.8

 

 

$

8.0

 

 

$

0.1

 

 

$

6.6

 

 

$

6.7

 

 

 

 

Nine Months Ended September 30, 2023

 

 

Nine Months Ended September 30, 2022

 

 

 

Finance
Receivables

 

 

Trade and
Other
Receivables

 

 

Total

 

 

Finance
Receivables

 

 

Trade and
Other
Receivables

 

 

Total

 

Allowance at beginning of period

 

$

0.1

 

 

$

6.6

 

 

$

6.7

 

 

$

0.5

 

 

$

3.7

 

 

$

4.2

 

Acquisition of Business

 

 

 

 

 

1.8

 

 

 

1.8

 

 

 

 

 

 

 

 

 

 

Provision for doubtful accounts, net of recoveries

 

 

0.1

 

 

 

0.3

 

 

 

0.4

 

 

 

(0.3

)

 

 

3.2

 

 

 

2.9

 

Charge-off of accounts

 

 

 

 

 

(0.9

)

 

 

(0.9

)

 

 

(0.1

)

 

 

(0.3

)

 

 

(0.4

)

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance at end of period

 

$

0.2

 

 

$

7.8

 

 

$

8.0

 

 

$

0.1

 

 

$

6.6

 

 

$

6.7