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Supplemental Information | 9 Months Ended
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Sep. 30, 2020
Supplemental Information [Abstract] |
Supplemental Information | Supplemental Information Receivables For trade receivables an expected credit loss approach was adopted as of January 1, 2020. Linde applies loss rates that are lifetime expected credit losses at initial recognition of the receivables. These expected loss rates are based on an analysis of the actual historical default rates for each business, taking regional circumstances into account. If necessary, these historical default rates are adjusted to reflect the impact of current changes in the macroeconomic environment using forward-looking information. The loss rates are also evaluated based on the expectations of the responsible management team regarding the collectability of the receivables. Gross trade receivables aged less than one year were $4,044 million and $4,390 million at September 30, 2020 and December 31, 2019 respectively and gross receivables aged greater than one year were $337 million and $249 million at September 30, 2020 and December 31, 2019 respectively. Receivables aged greater than one year are generally fully reserved unless specific circumstances warrant exceptions, such as those backed by federal governments. Accounts receivable net of reserves were $4,033 million at September 30, 2020 and $4,322 million at December 31, 2019. Allowances for expected credit losses were $452 million at September 30, 2020 and $306 million at December 31, 2019. Provisions for expected credit losses were $136 million and $146 million for the nine months ended September 30, 2020 and 2019, respectively. The allowance activity in the nine months ended September 30, 2020 related to write-offs of uncollectible amounts, net of recoveries and currency movements is not material. Inventories The following is a summary of Linde's consolidated inventories:
(Millions of dollars) | September 30, 2020 |  | December 31, 2019
Inventories |  |  |
Raw materials and supplies | $ | 400 |  |  | $ | 396 |
Work in process | 374 |  |  | 331 |
Finished goods | 959 |  |  | 970 |
Total inventories | $ | 1,733 |  |  | $ | 1,697 |

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