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Receivables (Tables)
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of Receivables

Receivables consisted of the following (in millions):

 

 

December 31,

 

 

 

2023

 

 

2022

 

Trade receivables - U.S. government

 

$

67.7

 

 

$

135.3

 

Trade receivables - other

 

 

1,160.6

 

 

 

979.5

 

Finance receivables

 

 

7.6

 

 

 

7.3

 

Notes receivable

 

 

15.0

 

 

 

 

Other receivables

 

 

96.6

 

 

 

53.3

 

 

 

1,347.5

 

 

 

1,175.4

 

Less allowance for doubtful accounts

 

 

(7.4

)

 

 

(6.7

)

 

$

1,340.1

 

 

$

1,168.7

 

Classification of Receivables in the Consolidated Balance Sheets

Classification of receivables in the Consolidated Balance Sheets consisted of the following (in millions):

 

 

December 31,

 

 

 

2023

 

 

2022

 

Current receivables

 

$

1,316.4

 

 

$

1,162.0

 

Long-term receivables

 

 

23.7

 

 

 

6.7

 

 

$

1,340.1

 

 

$

1,168.7

 

Schedule of Allowance for Doubtful Accounts

Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions):

 

 

For the Year Ended December 31, 2023

 

 

 

Trade
Receivables

 

 

Finance
Receivables

 

 

Total

 

Allowance for doubtful accounts at beginning of period

 

$

6.6

 

 

$

0.1

 

 

$

6.7

 

Acquisition of Business

 

 

1.2

 

 

 

 

 

 

1.2

 

Provision for doubtful accounts, net of recoveries

 

 

0.5

 

 

 

 

 

 

0.5

 

Charge-off of accounts

 

 

(1.0

)

 

 

 

 

 

(1.0

)

Allowance for doubtful accounts at end of period

 

$

7.3

 

 

$

0.1

 

 

$

7.4

 

 

 

 

For the Year Ended December 31, 2022

 

 

 

Trade
Receivables

 

 

Finance
Receivables

 

 

Total

 

Allowance for doubtful accounts at beginning of period

 

$

3.7

 

 

$

0.5

 

 

$

4.2

 

Provision for doubtful accounts, net of recoveries

 

 

3.3

 

 

 

(0.3

)

 

 

3.0

 

Charge-off of accounts

 

 

(0.4

)

 

 

(0.1

)

 

 

(0.5

)

Allowance for doubtful accounts at end of period

 

$

6.6

 

 

$

0.1

 

 

$

6.7