Accounts Receivable Sale Program

3 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Accounts Receivable Sales Program

Note 10 – Accounts Receivable Sale Program

In connection with a trade accounts receivable sale program with an unaffiliated financial institution, the Company may elect to sell, at a discount, on an ongoing basis, up to a maximum of $40.0 million, of specific accounts receivable at any one time.

During the three months ended March 31,2018, the Company sold $40.0 million of accounts receivable under this program, and in exchange, the Company received cash proceeds of $39.9 million, net of the discount. During the three months ended March 31,2017, the Company sold $25.0 million of accounts receivable under this program, and in exchange, the Company received cash proceeds of $24.9 million, net of the discount. The loss on the saleresulting from the discount during the threemonths ended March 31,2018 and 2017 was $0.1 million for both periods and was recorded to other expense within the Condensed Consolidated Statements of Income.