Accounts Receivable Factoring

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Accounts Receivable Factoring

Accounts Receivable Factoring

From time to time we participate in factoring arrangements to sell accounts receivable to third party financial institutions. In 2015, under these arrangements we sold $78 million, received cash totaling $77 million and recognized a loss of $0.2 million. We did not sell any accounts receivable during 2014. In 2013, under these arrangements we sold $215 million, received cash totaling $204 million and recognized a loss of $3 million. Our factoring transactions in 2015 and 2013 qualified for sale accounting and all related proceeds are included as operating cash flows in our Consolidated Statements of Cash Flows.