v3.26.1
Accounts Receivable, Net
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Accounts Receivable, Net Accounts Receivable, Net
Accounts receivable, net were comprised of the following:
(in millions)June 30, 2026December 31, 2025
Accounts receivable trade, net$580.4 $511.3 
Unbilled receivables8.3 5.7 
Accounts receivable, net$588.7 $516.9 
The percentages of accounts receivable trade for customers that represent 10% or more of total accounts receivable trade were as follows:
June 30, 2026December 31, 2025
Distributor A33 %37 %
Distributor B16 %20 %
Distributor C16 %10 %
The Company outsourced the insurance claim submissions process to a third-party service provider in one country in which it operates. Under this agreement, in 2025, the Company transferred certain receivables in exchange for cash in advance. If the third-party service provider was unable to collect on the transferred receivables, the third-party service provider had recourse to the Company. This arrangement was accounted for as a secured borrowing with a pledge of collateral as the transfer did not meet the criteria for sale accounting. The proceeds from and repayments of secured borrowings are reflected as cash flows provided by (used in) financing activities in the consolidated statement of cash flows.