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Long-Term Financing Receivables
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Long-Term Financing Receivables [Text Block] Long-Term Financing Receivables
Our long-term financing receivables primarily represent balances related to the aerospace businesses such as long-term trade accounts receivable, leases, and notes receivable. We also have other long-term receivables in our commercial businesses; however, both the individual and aggregate amounts of those other receivables are not significant. The following table summarizes the balance by class of aerospace business related long-term receivables as of March 31, 2020 and December 31, 2019:
(dollars in millions)March 31, 2020December 31, 2019
Long-term trade accounts receivable$251  $251  
Notes and leases receivable261  265  
Total long-term receivables$512  $516  
Customer credit ratings range from customers with an extremely strong capacity to meet financial obligations to customers whose uncollateralized receivable is in default. There can be no assurance that actual results will not differ from estimates or that consideration of these factors in the future will not result in an increase or decrease to the allowance for credit losses on long-term receivables. Based upon the customer credit ratings, approximately $240 million and $150 million of our total long-term receivables were considered to bear high credit risk as of March 31, 2020 and December 31, 2019, respectively.
Reserves for credit losses on long term receivables relate to specifically identified receivables that are evaluated individually for impairment. For long-term trade accounts receivable, we evaluate credit risk and collectability individually to determine if an allowance is necessary. For notes and leases receivable, we determine a specific reserve for exposure based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral in connection with the evaluation of credit risk and collectability. Our total long-term receivables reflected in the table above, include reserves of $33 million and $17 million as of March 31, 2020 and December 31, 2019, respectively. Changes in the allowance for credit losses were not material for the quarter ended March 31, 2020.
At March 31, 2020 and December 31, 2019, we did not have any significant balances that are considered to be delinquent, on non-accrual status, past due 90 days or more, or considered to be impaired.