Receivables

3 Months Ended

Jun. 30, 2022

Allowance for Doubtful Accounts

The following table presents the change in balance for the allowance for doubtful accounts:


	As of
(in millions)	June 30, 2022		March 31, 2022
Beginning balance	$	55	$	91

Provisions for losses on accounts receivable	2		5
Other adjustments to allowance and write offs	(11)		(41)
Ending balance	$	46	$	55

Receivables Facility

The Company has an accounts receivable sales facility (as amended, restated, supplemented or otherwise modified as of June 30, 2022, the “Receivables Facility”) with certain unaffiliated financial institutions for the sale of commercial accounts receivable in the United States.

As of June 30, 2022, the total availability under the Receivables Facility was $371 million, and the amount sold to the Purchasers was $400 million, which was derecognized from the Company’s balance sheet. As of June 30, 2022, the Company recorded a $29 million liability within accounts payable because the amount of cash proceeds received by the Company under the Receivables Facility was more than the total availability. The Receivables Facility was amended on July 29, 2022 extending the termination date to July 28, 2023.

The fair value of the sold receivables approximated book value due to the short-term nature, and as a result, no gain or loss on sale of receivables was recorded.