Accounts Receivable

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Accounts Receivable

Accounts Receivable

Accounts receivable represent amounts billed and currently due from customers. Payment is typically received from our customers either at periodic intervals (e.g., biweekly, or monthly) or upon achievement of contractual milestones.

Accounts receivable consist of the following:

(Dollars in millions)	June 30, 2023		December 31, 2022
Accounts receivable	$	199	$	168
Less allowance for credit losses	(1)		(2)
Accounts receivable, net	$	198	$	166

The Company maintains certain agreements with financial institutions to sell certain trade receivables. See Note 5: Sale of Receivables for more information