Accounts Receivable, Net

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Accounts Receivable, Net

Accounts Receivable, Net

Accounts receivable as of September 30, 2017 of $2,840.7 million (December 31, 2016: $2,616.5 million), are stated at the invoiced amount and net of reserve for discounts and doubtful accounts of $243.7 million (December 31, 2016: $169.6 million).

Reserve for discounts and doubtful accounts:

(In millions)	2017			2016
As of January 1,	$	169.6		$	55.8
Provision charged to operations	1,074.1			569.9
Payments/credits	(1,000.0		)	(498.3		)
As of September 30,	$	243.7		$	127.4

As of September 30, 2017, accounts receivable included $96.2 million (December 31, 2016: $102.2 million) related to royalties receivable.