XML 33 R15.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Allowance for Accounts Receivable | 12 Months Ended
--- | ---
Dec. 31, 2021
Receivables [Abstract] |
Allowance for Accounts Receivable |
6. | Allowance for Accounts Receivable
The allowance for accounts receivable consists of reserves for both credit and fraud losses, reflecting management’s current estimate of uncollectible balances on its accounts receivable. See Note 1, Basis of Presentation and Summary of Significant Accounting Policies, for more information regarding our policies and procedures for determining the allowance for accounts receivable. The following tables present changes in the accounts receivable allowances by portfolio segment:
| Year ended December 31,
| 2021 |  |  |  |
(In thousands) | Fleet Solutions |  | Travel and Corporate Solutions |  | Health and Employee Benefit Solutions |  | Total |  |  |  |
Balance, beginning of year | $ | 49,267 |  |  | $ | 9,610 |  |  | $ | 270 |  |  | $ | 59,147 |  |  |  |  |
Provision for credit losses 1 | 37,808 |  |  | 6,967 |  |  | 339 |  |  | 45,114 |  |  |  |  |
Other 2 | 17,631 |  |  | 5 |  |  | — |  |  | 17,636 |  |  |  |  |
Charge-offs | (54,686) |  |  | (6,900) |  |  | (198) |  |  | (61,784) |  |  |  |  |
Recoveries of amounts previously charged-off | 6,727 |  |  | 549 |  |  | 206 |  |  | 7,482 |  |  |  |  |
Currency translation | (989) |  |  | (300) |  |  | — |  |  | (1,289) |  |  |  |  |
Balance, end of year | $ | 55,758 |  |  | $ | 9,931 |  |  | $ | 617 |  |  | $ | 66,306 |  |  |  |  |
| Year ended December 31,
| 2020
(In thousands) | Fleet Solutions |  | Travel and Corporate Solutions |  | Health and Employee Benefit Solutions |  | Total
Balance, beginning of year | $ | 50,010 |  |  | $ | 5,765 |  |  | $ | 8,076 |  |  | $ | 63,851 |
Provision for credit losses 1 | 56,620 |  |  | 21,610 |  |  | 213 |  |  | 78,443 |
Other 2 | 19,019 |  |  | — |  |  | — |  |  | 19,019 |
Charge-offs 3 | (88,091) |  |  | (18,787) |  |  | (5,419) |  |  | (112,297) |
Recoveries of amounts previously charged-off | 10,421 |  |  | 175 |  |  | 17 |  |  | 10,613 |
Currency translation | 1,288 |  |  | 847 |  |  | (2,617) |  |  | (482) |
Balance, end of year | $ | 49,267 |  |  | $ | 9,610 |  |  | $ | 270 |  |  | $ | 59,147 |
1 The provision is comprised of estimated credit losses based on the Company’s loss-rate experience and includes adjustments required for forecasted credit loss information. The provision for credit losses reported within this table also includes the provision for fraud losses. 2 Consists primarily of charges to other accounts. The Company earns revenue by assessing monthly finance fees on accounts with overdue balances. These fees are recognized as revenue at the time the fees are assessed. The finance fee is calculated using the greater of a minimum charge or a stated late fee rate multiplied by the outstanding balance that is subject to a late fee charge. On occasion, these fees are waived to maintain relationship goodwill. Charges to other accounts represent the offset against the late fee revenue recognized when the Company establishes a reserve for such waived amounts. 3 For the year ended December 31, 2020, the majority of the Travel and Corporate Solutions segment charge-offs is associated with the sale of the WEX Latin America business. Refer to Note 5, Sale of Subsidiary, for further information. Concentration of Credit Risk The receivables portfolio consists of a large group of homogeneous smaller balances across a wide range of industries, which are collectively evaluated for impairment. No one customer receivable balance represented 10 percent or more of the outstanding receivables balance at December 31, 2021 or 2020. The following table presents the outstanding balance of trade accounts receivable that are less than 30 and 60 days past due, shown in each case as a percentage of total trade accounts receivable:
| December 31,
Delinquency Status | 2021 |  | 2020
29 days or less past due | 98 | % |  | 97 | %
59 days or less past due | 99 | % |  | 98 | %

X
- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
Name: | us-gaap_AllowanceForCreditLossesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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