Sale of Receivables (Tables)

9 Months Ended

Sep. 30, 2024

Transfers and Servicing [Abstract]

Schedule of Sale of Receivables

The table below summarizes the activity under the factoring facilities:

	Nine Months Ended September 30,
(Dollars in millions)	2024		2023
Beginning balance	$	192	$	243
Sales of receivables	60		110
Cash returned to purchasers	(241)		(332)
Outstanding balance sold to purchasers	11		21
Cash collected, not remitted to purchasers(1)	(1)		(1)
Remaining sold receivables	$	10	$	20

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(1)Represents cash collected on behalf of purchasers and not yet remitted. This balance is included within short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheets. See Note 10: Debt for further information.