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RECEIVABLES, NET | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
RECEIVABLES, NET | RECEIVABLES, NET
| September 30, 2020 |  | December 31, 2019
| (In thousands)
Trade | $ | 1,032,337 |  |  | $ | 1,060,298 |
Sales-type leases | 126,657 |  |  | 135,353 |
Other, primarily warranty and insurance | 42,635 |  |  | 55,600 |
| 1,201,629 |  |  | 1,251,251 |
Allowance for credit losses and other | (45,393) |  |  | (22,761) |
Total | $ | 1,156,236 |  |  | $ | 1,228,490 |
The following table provides a reconciliation of our allowance for credit losses (in thousands):
Balance at December 31, 2019 |  | $ | 10,500 |
Charges to provisions for credit losses |  | 35,000 |
Impact of adoption of new accounting standard, write-offs, and other |  | (11,200) |
Balance at September 30, 2020 |  | 34,300 |
Allowance for billing adjustments |  | 11,093 |
Allowance for credit losses and other |  | $ | 45,393 |
On January 1, 2020, we adopted the new accounting guidance related to the allowance for credit losses on our trade receivables and sales-type leases. As a result of the adoption, we increased our allowance for credit losses and reduced retained earnings as of January 1, 2020, which was not material. We maintain an allowance for credit losses and an allowance for billing adjustments related to certain discounts and other customer concessions. The estimates to determine the allowance are updated regularly based on our review of historical loss rates, as well as current and expected events impacting our business segments, current collection trends and billing adjustments processed. Amounts are charged against the allowance when the receivable is determined to be uncollectible. When a business relationship with a customer is initiated, we evaluate collectibility from the customer and it is continuously monitored as services are provided. We have a credit rating system based on internally developed standards and ratings provided by third parties. Our credit rating system, along with monitoring for delinquent payments, allows us to make decisions as to whether collectibility is probable at the on-set of the relationship and subsequently as we offer services. Factors considered during this process include historical payment trends, industry risks, liquidity of the customer, years in business, judgments, liens, and bankruptcies. Payment terms vary by contract type, although terms generally include a requirement of payment within 15 to 90 days. Due to the COVID-19 pandemic, we temporarily extended payment terms for certain customers in the second quarter, which we have elected not to assess as a lease modification. The majority of these customers have made payments in accordance with their extended terms. We continue to actively monitor the impact of the COVID-19 pandemic on expected credit losses.

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- Definition The entire disclosure for claims held for amounts due a 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 -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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