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Accounts Receivable | 12 Months Ended
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Dec. 31, 2018
Accounts Receivable, Net [Abstract] |
Accounts Receivable | Accounts Receivable We had accounts receivable of $2.7 billion and $2.7 billion, net of an allowance for bad debt of $39.4 million and $27.8 million, as of December 31, 2018 and 2017, respectively. We have Receivables Purchase Agreements (“RPAs”) with Wells Fargo and Citibank, that allow for the sale of our accounts receivable in an amount equal to either 90% or 100%, depending on the customer, of the total balance, less a discount margin equivalent to LIBOR plus 1% to 3% and certain other fees, as applicable. Under the terms of the RPAs, we retained a beneficial interest in certain of the sold accounts receivable of 10%, which is included in accounts receivable, net in the accompanying consolidated balance sheets. However, during the quarter ended September 30, 2018, we amended the RPAs with Wells Fargo and Citibank to remove the retained beneficial interests, allowing us to sell 100% of our outstanding qualifying accounts receivable balances and receive cash consideration equal to the total balance, less a discount margin equal to LIBOR plus 1% to 3%. Receivables sold under the RPAs are excluded from accounts receivable, net on the accompanying consolidated balance sheets. Fees and interest paid under the RPAs are recorded within "Interest expense and other financing costs, net" in the Consolidated Statements of Comprehensive Income. At December 31, 2018 and 2017, under the RPAs, we had sold accounts receivable of $508.2 million and $377.3 million, respectively. In addition, we have a $0.0 million and $15.9 million retained beneficial interest in the transferred receivables as of December 31, 2018 and 2017, respectively. The fees and interest paid under the RPA were $19.9 million, $12.4 million, and $4.8 million, for 2018, 2017 and 2016, respectively. For the years ended December 31, 2018, 2017 and 2016, cash payments to the owners of account receivables were $7.9 billion, $6.1 billion and $3.0 billion respectively and cash proceeds from the sale of account receivables were $7.9 billion, $5.9 billion and $2.9 billion respectively. The following table sets forth activities in our allowance for bad debt (in millions):
| 2018 |  | 2017 |  | 2016
Balance as of beginning of period | $ | 27.8 |  |  | $ | 24.9 |  |  | $ | 25.0 |
Charges to provision for bad debt | 25.1 |  |  | 9.3 |  |  | 15.4 |
Write-off of uncollectible accounts receivable | (16.2 | ) |  | (8.7 | ) |  | (15.9 | )
Recoveries of bad debt | 2.9 |  |  | 2.0 |  |  | 0.3 |
Translation Adjustments | (0.1 | ) |  | 0.3 |  |  | 0.2 |
Balance as of end of period | $ | 39.4 |  |  | $ | 27.8 |  |  | $ | 24.9 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5074-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -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 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5162-111524 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5066-111524 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -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 7: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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