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RECEIVABLES | 12 Months Ended
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Jan. 01, 2021
Receivables [Abstract] |
RECEIVABLES | NOTE 6: RECEIVABLES Receivables are summarized below:
(In millions) | January 1, 2021 |  | January 3, 2020 |  |
Accounts receivable | $ | 1,369 |  |  | $ | 1,228 |  |  |
Less allowances for collection losses | (25) |  |  | (12) |  |  |
| $ | 1,344 |  |  | $ | 1,216 |  |  |
We have a receivables sale agreement (“RSA”) with a third-party financial institution that permits us to sell, on a nonrecourse basis, up to $100 million of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSA, which we continue to service and collect on behalf of the third-party financial institution. Receivables sold pursuant to the RSA meet the requirements for sales accounting under Accounting Standards Codification 860, Transfers and Servicing, and accordingly, are derecognized from our Consolidated Balance Sheet at the time of sale. We had no outstanding accounts receivable sold pursuant to the RSA at January 1, 2021 or January 3, 2020.

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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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