Sale of Receivables (Tables)

12 Months Ended

Dec. 31, 2023

Transfers and Servicing [Abstract]

Schedule of Sale of Receivables

The table below summarizes the activity under the factoring facilities:

	December 31,
(Dollars in millions)	2023		2022
Beginning balance	$	243	$	215
Sales of receivables	303		373
Cash returned to purchasers	(354)		(345)
Outstanding balance sold to purchasers(1)	192		243
Cash collected, not remitted to purchasers(2)	(35)		(10)
Remaining sold receivables	$	157	$	233

________________

(1)For 2023, the Company recorded a net decrease to cash flows from operating activities of $51 million from sold receivables and for 2022 a net increase to cash flows from operating activities of $28 million.

(2)Represents cash collected on behalf of purchasers and not yet remitted.