Annual report pursuant to Section 13 and 15(d)

Accounts and Notes Receivable

v3.8.0.1
Accounts and Notes Receivable
12 Months Ended
Dec. 31, 2017
Receivables and Warranty Accruals [Abstract]  
Accounts and Notes Receivable
ACCOUNTS AND NOTES RECEIVABLE
The following table presents accounts and notes receivables, net of allowances:
 
December 31, 2017
 
December 31, 2016
Customer receivables
$
90.8

 
$
84.3

Miscellaneous receivables
4.0

 
5.5

Less: allowance for product warranties, discounts and losses
(15.1
)
 
(13.8
)
Total
$
79.7

 
$
76.0


Generally, we sell our products to select, pre-approved customers whose businesses are affected by changes in economic and market conditions. We consider these factors and the financial condition of each customer when establishing our allowance for losses from doubtful accounts.
Allowance for product warranties represents expected reimbursements for cost associated with warranty repairs, the majority of which is provided to our independent distributors through a credit against accounts receivable from the distributor to AFI.

The following table summarizes the activity for the allowance for product warranties:
 
Year Ended December 31,
 
2017
 
2016
Balance as of January 1,
$
(7.5
)
 
$
(7.3
)
Reductions for payments
12.8

 
11.6

Current year warranty accruals
(13.0
)
 
(11.8
)
Balance as of December 31,
$
(7.7
)
 
$
(7.5
)