Receivables

9 Months Ended

Sep. 30, 2022


	September 30, 2022		December 31, 2021
Accounts receivable	$	1,332	$	1,289
Less: allowance for credit losses	(21)		(20)
Net trade receivables	1,311		1,269
Unbilled receivables	414		325
Miscellaneous receivables	399		295
Receivables, net	$	2,124	$	1,889

In December 2021, the Company's Bowling Green plant sustained tornado damage, resulting in curtailment of operations. The Company resumed operations in March 2022. However, it will continue to incur incremental costs, including freight and warehousing expenses, to meet customer demand as the plant returns to full operational capacity. The Company has property and business interruption insurance policies for weather related events that include these incremental expenses. The Company recognizes insurance recoveries for losses incurred as the recoveries become probable. Insurance recoveries for lost profits are not recognized until they are realizable.

During the nine months ended September 30, 2022, the Company received insurance proceeds of $60 for business interruption, including incremental expenses, and $17 for property damage. As of September 30, 2022, the Company has recorded an insurance receivable, within miscellaneous receivables, of $40 for incremental expenses incurred that the Company expects to be reimbursed under the terms of its insurance policy.