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Receivables, Loans, Notes Receivable, and Others | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure | Accounts Receivable, Net Accounts receivable, net consisted of the following:
(dollars in millions) | September 30, 2020 |  | December 31, 2019
Accounts receivable | $ | 10,645 |  |  | $ | 8,997 |
Allowance for expected credit losses | (530) |  |  | (254) |
Total accounts receivable, net | $ | 10,115 |  |  | $ | 8,743 |
The Company enters into various factoring agreements with third-party financial institutions to sell certain of its receivables. Under these factoring arrangements, the Company factored receivables of $5.4 billion during both the nine months ended September 30, 2020 and 2019. The cash received from these arrangements is reflected as cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. In certain of these factoring arrangements, for ease of administration, the Company will collect customer payments related to the factored receivables, which it then remits to the financial institutions. At September 30, 2020 and December 31, 2019, the Company had $8 million and $7 million, respectively, that was collected on behalf of the financial institutions and recorded as restricted cash and accrued liabilities. The net cash flows relating to these collections are reported as financing activities in the Condensed Consolidated Statement of Cash Flows. The changes in the allowance for expected credit losses related to Accounts receivable for the nine months ended September 30, 2020 were as follows:
(dollars in millions) |
Balance as of December 31, 2019 | $ | 254 |
Current period provision for expected credit losses(1) | 263 |
Write-offs charged against the allowance for expected credit losses | (5) |
Other, net(2) | 18 |
Balance as of September 30, 2020 | $ | 530 |
(1) The current provision for expected credit losses for the nine months ended September 30, 2020 includes $223 million of reserves driven by customer bankruptcies and additional reserves for credit losses primarily due to the current economic environment primarily caused by the COVID-19 pandemic. (2) Other includes $34 million of impact related to the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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