XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Accounts and Notes Receivable and Credit Quality of Notes Receivable | 9 Months Ended
--- | ---
Sep. 30, 2016
Receivables [Abstract] |
Accounts and Notes Receivable and Credit Quality of Notes Receivable | Accounts and Notes Receivable and Credit Quality of Notes Receivable Accounts and Notes Receivable The following summarizes the components of current and long-term accounts and notes receivable, net:
| September 30, 2016 |  | December 31, 2015
Current: |  |  |
Accounts receivable | $ | 478.3 |  |  | $ | 497.7 |
Notes receivable | 143.6 |  |  | 180.4 |
Allowance for doubtful accounts and notes | (27.6 | ) |  | (23.3 | )
Current accounts and notes receivable, net | $ | 594.3 |  |  | $ | 654.8 |
Long-term: |  |  |
Notes receivable, net of allowance of $0.2 and $0.3 | 43.6 |  |  | 51.3 |
Total accounts and notes receivable, net | $ | 637.9 |  |  | $ | 706.1 |
Credit Quality of Notes Receivable The interest rates on our outstanding notes receivable ranged from 3.25% to 10.42% at September 30, 2016 and December 31, 2015. We have certain concentrations of outstanding notes receivable in international locations that impact our assessment of the credit quality of our notes receivable. We monitor the macroeconomic and political environment in each of these locations in our assessment of the credit quality of our notes receivable. We have not identified changes in the aforementioned factors in the nine months ended September 30, 2016 that require a reassessment of our receivable balances. The international locations with significant concentrations (generally deemed to be exceeding 10%) of our notes receivable are as follows:
• | Mexico - Our accounts and notes receivable, net, from certain customers in Mexico at September 30, 2016 was $43.2 million. We collected $22.1 million of outstanding receivables from these customers during the nine months ended September 30, 2016.
• | Peru - Our accounts and notes receivable, net, from certain customers in Peru at September 30, 2016 was $34.6 million. We collected $19.5 million of outstanding receivables from these customers during the nine months ended September 30, 2016.
• | Argentina - Our accounts and notes receivable, net, from customers in Argentina at September 30, 2016 was $17.5 million denominated in USD. Our customers are required to and have continued to pay us in pesos at the spot exchange rate on the date of payment. We collected $17.7 million of outstanding receivables from customers in Argentina during the nine months ended September 30, 2016.
In addition to the macroeconomic and political factors noted above, we also evaluated recent payments, receivables aging, any additional security or collateral we had (bills of exchange, pledge agreements, etc.) and other facts and circumstances relevant to our customers' ability to pay. The following summarizes the components of total notes receivable, net:
| September 30, 2016 |  | Balances over 90 days past due |  | December 31, 2015 |  | Balances over 90 days past due
Notes receivable: |  |  |  |  |  |  |
Domestic | $ | 34.5 |  |  | $ | 0.8 |  |  | $ | 62.4 |  |  | $ | 2.6 |
International | 152.9 |  |  | 34.1 |  |  | 169.8 |  |  | 26.6 |
Total notes receivable | 187.4 |  |  | 34.9 |  |  | 232.2 |  |  | 29.2 |
Notes receivable allowances |  |  |  |  |  |  |
Domestic | (1.1 | ) |  | (0.8 | ) |  | (2.6 | ) |  | (2.5 | )
International | (13.7 | ) |  | (13.7 | ) |  | (10.6 | ) |  | (9.5 | )
Total notes receivable allowances | (14.8 | ) |  | (14.5 | ) |  | (13.2 | ) |  | (12.0 | )
Notes receivable, net | $ | 172.6 |  |  | $ | 20.4 |  |  | $ | 219.0 |  |  | $ | 17.2 |
At September 30, 2016, 11.8% of our total notes receivable, net, was past due by over 90 days, compared to 7.9% at December 31, 2015. The following tables detail our evaluation of notes receivable for impairment and the changes in our notes receivable allowances:
| September 30, 2016 |  | December 31, 2015
| Ending Balance Individually Evaluated for Impairment |  | Ending Balance Collectively Evaluated for Impairment |  | Total |  | Ending Balance Individually Evaluated for Impairment |  | Ending Balance Collectively Evaluated for Impairment |  | Total
Notes receivable: |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 10.4 |  |  | $ | 24.1 |  |  | $ | 34.5 |  |  | $ | 20.7 |  |  | $ | 41.7 |  |  | $ | 62.4 |
International | 78.9 |  |  | 74.0 |  |  | 152.9 |  |  | 101.8 |  |  | 68.0 |  |  | 169.8 |
Total notes receivable | 89.3 |  |  | 98.1 |  |  | 187.4 |  |  | 122.5 |  |  | 109.7 |  |  | 232.2 |
Allowance for notes receivable | (14.6 | ) |  | (0.2 | ) |  | (14.8 | ) |  | (12.9 | ) |  | (0.3 | ) |  | (13.2 | )
Total notes receivable, net | $ | 74.7 |  |  | $ | 97.9 |  |  | $ | 172.6 |  |  | $ | 109.6 |  |  | $ | 109.4 |  |  | $ | 219.0 |
| For the Nine Months Ended September 30, 2016 |  | For the Nine Months Ended September 30, 2015
| Ending Balance Individually Evaluated for Impairment |  | Ending Balance Collectively Evaluated for Impairment |  | Total |  | Ending Balance Individually Evaluated for Impairment |  | Ending Balance Collectively Evaluated for Impairment |  | Total
Provision | $ | (3.8 | ) |  | $ | — |  |  | $ | (3.8 | ) |  | $ | (6.2 | ) |  | $ | (1.7 | ) |  | $ | (7.9 | )
Charge-offs and recoveries | 2.1 |  |  | 0.1 |  |  | 2.2 |  |  | 2.3 |  |  | 0.1 |  |  | 2.4 |
The fair value of notes receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. As of September 30, 2016 and December 31, 2015, the fair value of notes receivable, net, approximated the carrying amount due to their short-term nature.

X
- 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(6)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5162-111524 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5074-111524 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration