Receivables, Net

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Receivables, Net

RECEIVABLES, NET

	2020		2019
Trade accounts receivable	$	492.5	$	562.3
Notes receivable	11.0		6.2
Other	19.1		21.2
Receivables, gross	522.6		589.7
Less: allowance for credit losses - receivables	(15.1)		(11.3)
Receivables, net	$	507.5	$	578.4

The following table displays our allowance for credit losses for receivables and contract assets.

	2020		2019
Allowance for credit losses - receivables	$	15.1	$	11.3
Allowance for credit losses - contract assets	0.5		1.5
Total allowance for credit losses	$	15.6	$	12.8

Our allowance for credit losses for the year ended December 31, 2020 includes our estimate of the impact of the COVID-19 pandemic and declines in the oil and gas market and we expect it will be adjusted in subsequent periods as circumstances develop and we gain better insight into the future impacts of the pandemic. We believe these events may impact our ability to collect from certain customers depending on the end market we serve and customer profile. The follow table displays a rollforward of the total allowance for credit losses for the years ended December 31, 2020, 2019, and 2018.

	2020		2019		2018
Total allowance for credit losses – January 1	$	12.8	$	18.3	$	16.1
Impact of adoption of ASU 2016-13 (See Note 2)	1.7		—		—
Charges to income	6.2		3.5		3.6
Write-offs	(5.5)		(9.2)		(0.8)
Foreign currency and other	0.4		0.2		(0.6)
Total allowance for credit losses – December 31	$	15.6	$	12.8	$	18.3