Receivables

12 Months Ended

Dec. 31, 2019



	2019			2018
Accounts receivable	$	1,162		$	1,303
Less: allowance for doubtful accounts	(62		)	(65		)
Net trade receivables	1,100			1,238
Unbilled receivables	226			181
Miscellaneous receivables	202			183
	$	1,528		$	1,602

The Company uses receivables securitization and factoring facilities in the normal course of business as part of managing its cash flows. The Company accounts for transfers under its securitization facilities as sales because the Company sells full title and ownership in the underlying receivables and has met the criteria for control of the receivables to be considered transferred.

The Company accounts for its factoring arrangements as either sales or secured borrowing based on whether it has transferred control over the factored receivables. The Company’s continuing involvement in factored receivables accounted for as sales is limited to servicing the receivables. The Company receives adequate compensation for servicing the receivables and no servicing asset or liability is recorded.

At December 31, amounts securitized or factored were as follows:



	2019		2018
Accounted for as secured borrowings	$	14	$	9
Accounted for as sales	1,318		1,097

In July 2018, the Company terminated its $200 North American securitization facility, which included a deferred purchase price component, and entered into a new securitization facility to sell, on a revolving basis, certain trade accounts receivable balances up to a maximum of $375. The new facility, which matures in 2020, removed the deferred purchase price component but requires the Company to maintain a deposit in a restricted cash account. The Company received net proceeds of $106 from the termination of the securitization facility and resale of receivables under the new agreement. These proceeds are included in the beneficial interest in securitized receivables line in the Company's Consolidated Statement of Cash Flows.

The Company recorded expenses related to securitization and factoring facilities of $23 in 2019, $21 in 2018, and $15 in 2017 as interest expense.