Supplemental Financial Information

9 Months Ended

Sep. 26, 2020

Supplemental Financial Information

Supplemental Financial Information

Note 14. Supplemental Financial Information

Inventories

The table below summarizes the amounts in inventory, net.

(In millions)	September 26, 2020		December 28, 2019
Raw materials	$	249.4	$	231.6
Work-in-progress		190.1		201.0
Finished goods		223.1		230.4
Inventories, net	$	662.6	$	663.0

Property, Plant and Equipment

The table below summarizes the amounts in property, plant and equipment, net.

(In millions)	September 26, 2020		December 28, 2019
Property, plant and equipment	$	3,301.5	$	3,171.6
Accumulated depreciation		(2,067.6)		(1,960.9)
Property, plant and equipment, net	$	1,233.9	$	1,210.7

Allowance for Credit Losses

Given the short-term nature of trade receivables, our allowance for credit losses is based on the financial condition of customers, the aging of receivable balances, our historical collection experience, and current and expected future macroeconomic and market conditions, including as a result of COVID-19. Balances are written off in the period in which they are determined to be uncollectible.

The activity for the nine months ended September 26, 2020 related to our allowance for credit losses was as follows:

(In millions)
Balance at December 28, 2019	$	27.1
Provision for credit losses(1)		20.0
Amounts written off		(2.3)
Other, including foreign currency translation		1.0
Balance at September 26, 2020	$	45.8

⁽¹⁾Primarily reflects estimated impacts on customers as a result of COVID-19.