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Receivables

12 Months Ended

Dec. 31, 2020


	2020		2019
Accounts receivable	$	1,297	$	1,162
Less: allowance for credit losses	(59)		(62)
Net trade receivables	1,238		1,100
Unbilled receivables	294		226
Miscellaneous receivables	251		202
	$	1,783	$	1,528

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

The Company’s continuing involvement in the transfers is limited to servicing the receivables. The Company receives adequate compensation for servicing the receivables and no servicing asset or liability is recorded.

As of December 31, 2020 and 2019, the Company derecognized receivables of $1,270 and $1,318 related to the facilities.

For the years ended December 31, 2020, 2019 and 2018, the Company recorded expenses related to the facilities of $19, $23 and $21 as interest expense.Prior to July 2018, the Company's North American securitization facility included a deferred purchase price component. Proceeds from the deferred purchase price were included in the beneficial interest in securitized receivables line in the Company's Consolidated Statement of Cash Flows