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Recent Accounting Pronouncements
 3 Months Ended
Mar. 27, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] Recent Accounting Pronouncements

Adoption of New Accounting Standard

In June 2016, the Financial Accounting Standards Board (FASB) issued a final standard on accounting for credit losses. The new standard is effective for the Company in fiscal 2020 and requires a change in credit loss calculations using the expected loss method. There was no significant impact on earnings or financial condition from the adoption of the new standard.

Accounting Policy

Receivables reflected in the financial statements represent the net amount expected to be collected. An allowance for credit losses is established based on expected losses. Expected losses are estimated by reviewing individual accounts, considering aging, financial condition of the debtor, recent payment history, current and forecast economic conditions and other relevant factors. The corporate controller group evaluates the adequacy of the worldwide allowance amount quarterly, considering individual account reviews, historical write-offs, current sales levels and expected economic factors.

Accounts Receivable

Accounts receivable includes trade receivables of $262 million and other receivables of $12 million as of March 27, 2020 and $256 million and $11 million, respectively, as of December 27, 2019.

Allowance for Credit Losses

Following is a summary of activity in the allowance for credit losses (in thousands):
 
Three Months Ended
 
March 27, 2020
 
March 29, 2019
Balance, beginning
$
4,828

 
$
4,771

Additions charged to costs and expenses
317

 
30

Deductions from reserves (1)
(253
)
 
(836
)
Other additions (deductions) (2)
(94
)
 
447

Balance, ending
$
4,798

 
$
4,412



(1)
Represents amounts determined to be uncollectible and charged against reserves, net of collections on accounts previously charged against reserves.
(2)
Includes amounts assumed or established in connection with acquisitions and effects of foreign currency translation.