Receivables

6 Months Ended

Jan. 01, 2022

Receivables

Receivables

2. Receivables

The Company’s receivables and allowance for credit losses were as follows:

	January 1,		July 3,
	2022		2021
	(Thousands)
Receivables	$	4,167,281	$	3,664,290
Allowance for Credit Losses		(89,574)		(88,160)

The Company had the following activity in the allowance for credit losses during the first six months of fiscal 2022 and 2021:

	January 1,		January 2,
	2022		2021
	(Thousands)
Balance at beginning of the period	$	88,160	$	65,018
Effect of adopting credit loss accounting standard		—		17,205
Credit Loss Provisions		8,391		4,438
Credit Loss Recoveries		(321)		(283)
Receivables Write offs		(4,930)		(4,621)
Foreign Currency Effect and Other		(1,726)		3,693
Balance at end of the period	$	89,574	$	85,450