RECEIVABLES, NET |
RECEIVABLES, NET | | | | | | | | | | | | | | | | | December 31, | | | 2021 | | 2020 | | | (In thousands) | Trade | | $ | 1,280,766 | | | $ | 1,051,618 | | Sales-type leases | | 148,134 | | | 132,003 | | Other, primarily warranty and insurance | | 67,141 | | | 41,753 | | | | 1,496,041 | | | 1,225,374 | | Allowance for credit losses and other | | (31,304) | | | (43,024) | | Total | | $ | 1,464,737 | | | $ | 1,182,350 | |
The following table provides a reconciliation of our allowance for credit losses and other: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Years ended December 31, | | | | 2021 | | 2020 | | | | | (in thousands) | Balance as of beginning of period | | $ | 43,024 | | | $ | 22,761 | | | | Changes to provisions for credit losses | | 1,632 | | | 34,191 | | | | Impact of adoption of new accounting standard, write-offs, and other (1) | | (13,352) | | | (13,928) | | | | Balance as of end of period | | $ | 31,304 | | | $ | 43,024 | | | | | | | | | | | | | | | | | | | | | | | | |
———————————— (1)Includes the cumulative-effect adjustment for the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) in 2020.
|