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Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2023
Valuation and Qualifying Accounts  
Valuation and Qualifying Accounts

 

Trade accounts receivable and accounts receivable balances included within the settlement assets are stated net of credit losses. Historically, the Company has not experienced significant write-offs. The Company records credit losses when it is probable that the accounts receivable balance will not be collected. 

The following table provides a summary of the credit loss balances and activity for the years ended December 31, 2023, 2022 and 2021:  


 

 

Year Ended December 31,

(in millions)

 

2023 

 

2022 

 

2021 

Beginning balance-credit losses

 

$

37.0

 

 

$

31.8

 

 

$

41.7

 

Additions-charged to expense 

 

13.3

 

 

16.3

 

 

9.7

 

Amounts written off

 

(9.8

 )

 

(12.9

)

 

(21.6

)

Other (primarily changes in foreign currency exchange rates)

 

(1.2

 )

 

1.8

 

2.0

Ending balance-credit losses

 

$

39.3

 

 

$

37.0

 

 

$

31.8