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Accounts and Other Receivables | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
Accounts and Other Receivables | Accounts and Other Receivables The Company's accounts receivable and securitized accounts receivable include the following at September 30, 2025 and December 31, 2024 (value in thousands):
|  | September 30, 2025 |  | December 31, 2024
Gross domestic accounts receivable |  | $ | 1,054,023 |  |  | $ | 945,714 |
Gross domestic securitized accounts receivable |  | 1,755,000 |  |  | 1,323,000 |
Gross foreign receivables |  | 1,770,122 |  |  | 1,278,543 |
Total gross receivables |  | 4,579,145 |  |  | 3,547,257 |
Less allowance for credit losses |  | (166,866) |  |  | (133,757) |
Net accounts and securitized accounts receivables |  | $ | 4,412,279 |  |  | $ | 3,413,500 |
The Company maint ai ns a $1.8 billion revolving trade accounts receivable securitization facility (as amended from time to time, the "Securitization Facility"). Accounts receivable collateralized within our Securitization Facility relate to trade receivables resulting primarily from charge card activity and other customer receivables in the U.S. Pursuant to the terms of the Securitization Facility, the Company transfers in the form of a legal sale certain of its domestic receivables, on a revolving basis, to FLEETCOR Funding LLC ("Funding"), a wholly-owned bankruptcy remote consolidated subsidiary. In turn, Funding transfers in the form of a legal sale, without recourse, on a revolving basis, an undivided ownership interest in this pool of accounts receivable to unrelated transferees (i.e., multi-seller banks and asset-backed commercial paper conduits). Funding retains a residual, subordinated interest in cash flow distribution from the transferred receivables and provides to the transferees an incremental pledge of unsold receivables as a form of over-collateralization to enhance the credit of the transferred receivables. Purchases by the banks and conduits may be financed with the sale of highly-rated commercial paper. The Company utilizes proceeds from the securitized assets as an alternative to other forms of financing to reduce its overall borrowing costs. The Company has agreed to continue servicing the sold receivables for the financial institution at market rates, which approximates the Company’s cost of servicing. Funding determines the level of funding achieved by the sale of trade accounts receivable, subject to a maximum amount. As the Company maintains certain continuing involvement in the transferred/sold receivables, it does not derecognize the receivables from its Consolidated Balance Sheets. Instead, the Company records cash proceeds and any residual interest received as a Securitization Facility liability. The Company’s Consolidated Balance Sheets and Statements of Income reflect the activity related to securitized accounts receivable and the corresponding securitized debt, including interest income, fees generated from late payments, provision for losses on accounts receivable and interest expense. The cash flows from borrowings and repayments associated with the securitized debt are presented as cash flows from financing activities. The maturity date for the Company's Securitization Facility is the earlier of January 24, 2028 or the first maturity date of any loan under the Company's Credit Agreement, which is June 24, 2027. A roll forward of the Company’s allowance for credit losses related to accounts receivable for the nine months ended September 30, 2025 and 2024 is as follows (in thousands):
|  | 2025 |  | 2024
Allowance for credit losses beginning of period |  | $ | 133,757 |  |  | $ | 180,163 |
Provision for credit losses |  | 89,841 |  |  | 81,561 |
Write-offs |  | (76,548) |  |  | (115,856) |
Recoveries |  | 6,698 |  |  | 8,272 |
Impact of foreign currency |  | 13,118 |  |  | (12,092) |
Allowance for credit losses end of period |  | $ | 166,866 |  |  | $ | 142,048 |
The provision for credit losses increased during the nine months ended September 30, 2025 versus the comparable prior period primarily due to the growth of the business, as credit loss expense as a percentage of spend was consistent with the comparable prior period. Write-offs include receivables for which a full allowance was previously provided.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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