Allowance for Credit Losses

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Allowance for Credit Losses

Allowance for Credit Losses

The following table summarized the activity associated with allowance for credit losses for the years ended December 31, 2022, 2021 and 2020.

	2022		2021		2020
Balance at beginning of the period	$	42.3	$	50.9	$	16.6
Acquisition of Ingersoll Rand Industrial	—		—		25.1
Provision (benefit) charged to expense(1)	10.1		(4.3)		10.3
Write-offs, net of recoveries	(3.2)		(3.8)		(3.5)
Foreign currency translation and other	(2.0)		(0.5)		2.4
Balance at end of the period	$	47.2	$	42.3	$	50.9

(1)In the fourth quarter of 2021, the Company adjusted its allowance for credit losses in certain major portions of the business due to improved collection experience and reduction of past due receivables. The impact of these updates was a $6.6 million reduction in the allowance, with a corresponding benefit within “Selling and administrative expenses.”