Receivables

9 Months Ended

Oct. 02, 2020

Receivables [Abstract]

Receivables

Note G — Receivables

Receivables are summarized below:

(In millions)	October 2, 2020		January 3, 2020
Accounts receivable	$	1,154	$	1,228
Less allowance for credit losses	(26)		(12)
Receivables, net	$	1,128	$	1,216

We have a receivables sale agreement (“RSA”) with a third-party financial institution that permits us to sell, on a non-recourse basis, up to $100 million of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSA, which we continue to service and collect on behalf of the third-party financial institution and which we account for as sales of receivables with sale proceeds included in net cash from operating activities. We had no outstanding accounts receivable sold pursuant to the RSA at October 2, 2020 or January 3, 2020.