Transfers of Financial Assets	3 Months Ended
Transfers of Financial Assets	Mar. 31, 2017
Transfers and Servicing [Abstract]
Transfers of Financial Assets	6. Transfers of Financial Assets In the fourth quarter of 2016, we executed receivables purchase arrangements to liquidate portions of our trade accounts receivable balance with unrelated third parties. The receivables relate to products sold to customers and are short-term in nature. The factorings were treated as sales of our accounts receivable. Proceeds from the transfers reflect either the face value of the accounts receivable or the face value less factoring fees. In the U.S., our program is done on a revolving basis with a current maximum funding limit of $225 million. We act as the collection agent on behalf of the third party, but have no significant retained interests or servicing liabilities related to the accounts receivable sold. In order to mitigate credit risk, we purchased credit insurance for the factored accounts receivable. The result is our risk of loss being limited to the factored accounts receivable not covered by the insurance. The maximum exposures to loss associated with these arrangements were $10.0 million and $5.2 million as of March 31, 2017 and December 31, 2016, respectively. In our foreign programs, we sell to a third party and have no continuing involvement or significant risk with the factored accounts receivable. Funds received from the transfers are recorded as an increase to cash and a reduction to accounts receivable outstanding in the condensed consolidated balance sheets. We report the cash flows attributable to the sale of receivables to third parties in cash flows from operating activities in our condensed consolidated statements of cash flows. Net expenses resulting from the sales of receivables are recognized in selling, general and administrative expense. Net expenses include any resulting gains or losses from the sales of receivables, credit insurance and factoring fees. In the three month period ended March 31, 2017, we sold receivables having an aggregate face value of $208.7 million to the third parties in exchange for cash proceeds of $208.5 million. Expenses recognized on these sales during the three month period ended March 31, 2017 were not significant. In the three month period ended March 31, 2017, under the U.S. program, we collected $117.9 million from our customers and remitted it to the third party and we effectively repurchased $11.2 million of previously sold accounts receivable from the third party due to its revolving nature. We estimate the incremental operating cash inflows related to all of our programs were approximately $50 million in the three month period ended March 31, 2017. At March 31, 2017, the outstanding principal amount of receivables that has been derecognized under the U.S. revolving arrangement amounted to $100.2 million.

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.