Receivables, net

9 Months Ended

Sep. 26, 2020

Receivables [Abstract]

Receivables, net

Receivables, net

Receivables, net are as follows:

	At September 26, 2020		At December 31, 2019
Customers, trade	$	1,696,515	1,491,592
Income tax receivable	9,183		8,428
Other	87,114		88,520
	1,792,812		1,588,540
Less: allowance for discounts, claims and doubtful accounts(1)	81,851		61,921
Receivables, net	$	1,710,961	1,526,619

(1) The Company adopted the new standard, ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, on January 1, 2020 using a modified retrospective transition approach, with the cumulative impact being immaterial to the financial statements.

See Note 3 - Revenue from Contracts with Customers for descriptions of estimates of allowance for discounts, claims and doubtful accounts.