Accounts Receivable Factoring

9 Months Ended

Sep. 30, 2019

As a part of its working capital management, the Company sells certain receivables through a single third-party financial institution in a pan-European program (the “Factor”). The amount sold varies each month based on the amount of underlying receivables and cash flow needs of the Company. These are permitted transactions under the Company’s credit agreements governing the ABL Facility and Term Loan Facility and the indenture governing the Senior Notes. Costs incurred on the sale of receivables are recorded in other expense, net in the condensed consolidated statements of operations. The sale of receivables under this contract is considered an off-balance sheet arrangement to the Company and is accounted for as a true sale and is excluded from accounts receivable in the condensed consolidated balance sheet. Amounts outstanding under receivable transfer agreements entered into by various locations as of the period end were as follows:



	September 30, 2019		December 31, 2018
Off-balance sheet arrangements	$	86,270	$	100,409

Accounts receivable factored and related costs throughout the period were as follows:



	Off-Balance Sheet Arrangements
	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Accounts receivable factored	$	108,957	$	149,136	$	376,944	$	518,808
Costs	218		348		691		1,065

The Company continues to service sold receivables and acts as collection agent for the Factor. As of September 30, 2019 and December 31, 2018, cash collections on behalf of the Factor that have yet to be remitted were $16,254 and $14,542, respectively, and are reflected in cash and cash equivalents in the condensed consolidated balance sheet.