XML 55 R17.htm IDEA: XBRL DOCUMENT
v3.25.0.1

SALES OF RECEIVABLES | 12 Months Ended
--- | ---
Dec. 31, 2024
Receivables [Abstract] |
SALES OF RECEIVABLES | SALES OF RECEIVABLES Revolving Receivables Program During 2024, the Company amended its revolving receivables program to reduce the facility limit to $5,200 million and extend the program to June 2025. The outstanding portfolio of receivables derecognized from our consolidated balance sheets was $4,637 million and $5,200 million as of December 31, 2024 and 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recognized $116 million, $79 million, and $256 million, respectively, in selling, general and administrative expenses from the revolving receivables program in the consolidated statements of operations (net of non-designated derivatives in 2024 and 2023). (See Note 13.) The following table presents a summary of receivables sold (in millions).
| Year Ended December 31,
| 2024 |  | 2023
Gross receivables sold/cash proceeds received | $ | 15,254 |  |  | $ | 13,340 |
Collections reinvested under revolving receivables program | (15,818) |  |  | (13,506) |
Net cash proceeds remitted | $ | (564) |  |  | $ | (166) |
Net receivables sold | $ | 15,153 |  |  | $ | 13,178 |
Obligations recorded (Level 3) | $ | 361 |  |  | $ | 405 |
The following table presents a summary of the amounts transferred or pledged (in millions).
| December 31, 2024 |  | December 31, 2023
Gross receivables pledged as collateral | $ | 2,402 |  |  | $ | 3,088 |
Restricted cash pledged as collateral | $ | 100 |  |  | $ | 500 |
Balance sheet classification: |  |  |
Receivables, net | $ | 2,039 |  |  | $ | 2,780 |
Prepaid expenses and other current assets | $ | 100 |  |  | $ | 500 |
Other noncurrent assets | $ | 363 |  |  | $ | 308 |
Accounts Receivable Factoring Total trade accounts receivable sold under the Company’s factoring arrangement was $313 million and $383 million for the years ended December 31, 2024 and 2023, respectively. The impact to the consolidated statements of operations was immaterial for the years ended December 31, 2024, 2023 and 2022. This accounts receivable factoring agreement is separate and distinct from the revolving receivables program.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration