Receivables, net

12 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Receivables, net

he accompanying Consolidated Balance Sheets consist of the following:

	September 30,
	2017		2016
Trade accounts receivable	$	571.5	$	529.4
Less: Allowance for doubtful trade accounts receivable	45.4		46.8
Total trade accounts receivable, net	526.1		482.6
Other receivables	43.7		56.5
Total receivables, net	$	569.8	$	539.1

The following is an analysis of the allowance for doubtful trade accounts receivable:

Period	Balance at Beginning of  Period		Charged to Costs and Expenses		Deductions			Other Adjustments			Balance at End of Period
Fiscal 2017	$	46.8	$	1.4	$	(4.1	)	$	1.3		$	45.4
Fiscal 2016	44.0		15.6		(12.0		)	(0.8		)	46.8
Fiscal 2015	48.6		6.0		(6.3		)	(4.3		)	44.0

The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This major customer represented approximately 15.1%, 15.2% and 14.7% of the Company’s “Net sales” during Fiscal 2017, 2016 and 2015, respectively. This customer represents approximately 14.0% and 15.1% of the Company’s “Receivables, net” in the accompanying Consolidated Balance Sheets at September 30, 2017 and 2016, respectively.

Spectrum Brands has entered into various factoring agreements and early pay programs with its customers to sell its trade receivables under non-recourse agreements in exchange for cash proceeds. A loss on sales is recognized for any discount and factoring fees associated with the transfer. Spectrum Brands utilizes factoring arrangements as an integral part of their financing for working capital. These transactions are treated as a sale and are accounted for as a reduction in trade receivables because the agreements transfer effective control over and risk related to the receivables to buyers. In some instances, Spectrum Brands may continue to service the transferred receivable after the factoring has occurred, but in most cases Spectrum Brands does not service any factored accounts. Any servicing of the trade receivable does not constitute significant continuing involvement or preclude the recognition of a sale. Spectrum Brands does not carry any material servicing assets or liabilities. Cash proceeds from these arrangements are reflected as operating activities. The aggregate gross amount factored under these facilities was $2,141.0, $2,055.0 and $1,938.0 for Fiscal 2017, 2016 and 2015, respectively. The cost of factoring such trade receivables was $11.9, $10.1 and $6.5 for Fiscal 2017, 2016 and 2015, respectively, which are reported in “Selling, acquisition, operating and general expenses” in the accompanying Consolidated Statements of Operations.