Axalta Coating Systems Ltd
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 13, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
(1) ACCOUNTS AND NOTES RECEIVABLE, NET
(13)ACCOUNTS AND NOTES RECEIVABLE, NET
Trade accounts receivable are stated at the amount we expect to collect. We maintain allowances for doubtful accounts for estimated losses by applying historical loss percentages, combined with reasonable and supportable forecasts of future losses, to respective aging categories. Management considers the following factors in developing its current estimate of expected credit losses: customer credit-worthiness, past transaction history with the customer, current economic industry trends, changes in market or regulatory matters, changes in geopolitical matters, and changes in customer payment terms, as well as other macroeconomic factors.
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Accounts receivable—trade, net (1) | $1,015 | $1,043 |
| Notes receivable | 92 | 79 |
| Other (2) | 141 | 138 |
| Total | $1,248 | $1,260 |
(1)Allowance for doubtful accounts was $25 million at December 31, 2024 and 2023.
(2)Includes $29 million and $36 million at December 31, 2024 and 2023, respectively, of insurance recoveries related to an operational matter discussed further in Note 6.
Bad debt expenses of $9 million, $5 million and $6 million was included within selling, general and administrative expenses and other operating charges for the years ended December 31, 2024, 2023 and 2022, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.