Revenue Recognition and Accounts Receivable

The Company recognizes net sales when title and risk of loss pass to its customers and when provisions for estimates, including discounts, sales allowances, price adjustments, returns, chargebacks and other promotional programs are reasonably determinable.

Accounts receivable are presented net of allowances relating to these provisions. No significant revisions were made to the methodology used in determining these provisions or the nature of the provisions during the six months ended June 30, 2017. Such allowances were $1.89 billion and $2.05 billion at June 30, 2017 and December 31, 2016, respectively. Other current liabilities include $762.1 million and $809.0 million at June 30, 2017 and December 31, 2016, respectively, for certain sales allowances and other adjustments that are settled in cash.

Accounts receivable, net was comprised of the following at June 30, 2017 and December 31, 2016, respectively:



(In millions)	June 30, 2017		December 31, 2016
Trade receivables, net	$	2,642.7	$	3,015.4
Other receivables	308.3		295.5
Accounts receivable, net	$	2,951.0	$	3,310.9

Through its wholly owned subsidiary Mylan Pharmaceuticals Inc. (“MPI”), the Company has access to a $400 million accounts receivable securitization facility (the “Receivables Facility”). The receivables underlying any borrowings are included in accounts receivable, net, in the Condensed Consolidated Balance Sheets. There were $590.2 million and $1.13 billion of securitized accounts receivable at June 30, 2017 and December 31, 2016, respectively.