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Sale of Receivables
 3 Months Ended
Mar. 31, 2025
Transfers and Servicing [Abstract]  
Sale of Receivables Sale of Receivables
The Company is party to factoring facilities with various financial institutions (the “purchasers”) with an aggregate capacity of $225 million as of March 31, 2025 and December 31, 2024.
During the three months ended March 31, 2025 and 2024, the Company incurred immaterial purchase discount fees which are presented in general and administrative expenses on the Consolidated Statements of Earnings.
The table below summarizes the activity under the factoring facilities:
Three Months Ended March 31,
(Dollars in millions)20252024
Beginning balance$130 $192 
Sales of receivables25 15 
Cash returned to purchasers
(126)(136)
Outstanding balance sold to purchasers
29 71 
Cash collected, not remitted to purchasers(1)
(3)(9)
Remaining sold receivables $26 $62 
________________
(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.