XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Receivables | 9 Months Ended
--- | ---
Sep. 30, 2020
Receivables [Abstract] |
Receivables | Receivables The following table displays a roll forward of the allowance for doubtful trade receivables.
(in Millions) |
Balance, December 31, 2018 | $ | 22.4 |
Additions - charged to expense | 3.6 |
Transfer from (to) allowance for credit losses (see below) | 3.4 |
Net recoveries, write-offs and other | (3.1) |
Balance, December 31, 2019 | $ | 26.3 |
Additions - charged to expense | 5.4 |
Transfer from (to) allowance for credit losses (see below) | (4.4) |
Net recoveries, write-offs and other | (4.8) |
Balance, September 30, 2020 | $ | 22.5 |
We have non-current receivables that represent long-term customer receivable balances related to past due accounts which are not expected to be collected within the current year. The net long-term customer receivables were $109.6 million as of September 30, 2020. These long-term customer receivable balances and the corresponding allowance are included in "Other assets including long-term receivables, net" on the condensed consolidated balance sheets. A portion of these long-term receivables have payment contracts. We have no reason to believe payments will not be made based upon the credit quality of these customers. Additionally, we also hold significant collateral against these customers including rights to property or other assets as a form of credit guarantee. If the customer does not pay or gives indication that they will not pay, these guarantees allow us to start legal action to block the sale of the customer’s harvest. On an ongoing basis, we continue to evaluate the credit quality of our non-current receivables using aging of receivables, collection experience and write-offs, as well as evaluating existing economic conditions, to determine if an additional allowance is necessary. The following table displays a roll forward of the allowance for credit losses related to long-term customer receivables:
(in Millions) |
Balance, December 31, 2018 | $ | 60.5 |
Additions - charged to expense | 17.6 |
Transfer from (to) allowance for doubtful accounts (see above) | (3.4) |
Foreign currency adjustments | (0.5) |
Net recoveries, write-offs and other | (13.1) |
Balance, December 31, 2019 | $ | 61.1 |
Additions - charged to expense | (1.2) |
Transfer from (to) allowance for doubtful accounts (see above) | 4.4 |
Foreign currency adjustments | (8.8) |
Net recoveries, write-offs and other | (26.0) |
Balance, September 30, 2020 | $ | 29.5 |

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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + 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