Accounts Receivable, Net

3 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Accounts Receivable, Net

Accounts Receivable, Net

Accounts receivable as of March 31, 2018 of $3,140.5 million (December 31, 2017: $3,009.8 million), are stated at the invoiced amount and net of reserve for discounts and doubtful accounts of $474.8 million (December 31, 2017: $271.5 million).

Reserve for discounts and doubtful accounts consists of the following:

(In millions)	2018			2017
As of January 1,	$	271.5		$	169.6
Provision charged to operations	697.2			295.2
Payments/credits	(493.9		)	(304.5		)
As of March 31,	$	474.8		$	160.3

Reserve for discounts and doubtful accounts increased for the three months endedMarch 31, 2018 compared to the corresponding period in 2017, primarily related to the conversion of the invoice pricing methodology.

As of March 31, 2018, accounts receivable included $75.6 million (December 31, 2017: $106.6 million) related to royalties receivable.