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SALES OF RECEIVABLES (Tables) | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Schedule of Receivables Sold | The following table presents a summary of receivables sold (in millions).
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Gross receivables sold/cash proceeds received | $ | 4,231 |  |  | $ | 3,956 |  |  |  |  |
Collections reinvested under revolving receivables program | (4,120) |  |  | (3,987) |  |  |  |  |
Net cash proceeds received (remitted) | $ | 111 |  |  | $ | (31) |  |  |  |  |
Net receivables sold | $ | 4,205 |  |  | $ | 3,914 |  |  |  |  |
Obligations recorded (Level 3) | $ | 103 |  |  | $ | 153 |  |  |  |  |
Schedule of Amounts Transferred or Pledged | The following table presents a summary of the amounts transferred or pledged, which were held at the Company’s bankruptcy-remote consolidated subsidiary (in millions).
| March 31, 2025 |  | December 31, 2024
Gross receivables pledged as collateral | $ | 2,242 |  |  | $ | 2,402 |
Restricted cash pledged as collateral | $ | 102 |  |  | $ | 100 |
Balance sheet classification: |  |  |
Receivables, net | $ | 1,846 |  |  | $ | 2,039 |
Prepaid expenses and other current assets | $ | 102 |  |  | $ | 100 |
Other noncurrent assets | $ | 396 |  |  | $ | 363 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 4D -SubTopic 20 -Topic 860 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4D + Details
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