RECEIVABLES, NET

12 Months Ended

Dec. 31, 2021

NOTE 5: RECEIVABLES, NET

Receivables, net are summarized below:


(In millions)	December 31, 2021		January 1, 2021

Accounts receivable	$	1,088	$	1,369
Less: allowances for collection losses	(43)		(25)
Receivables, net	$	1,045	$	1,344

We have two receivables sale agreements (“RSAs”) with two separate third-party financial institutions that permit us to sell, on a non-recourse basis, up to $100 million each of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSAs, which we continue to service and collect on behalf of the third-party financial institutions and which we account for as sales of receivables with sale proceeds included in net cash from operating activities. Outstanding accounts receivable sold pursuant to the RSAs were $99.9 million at December 31, 2021, for net cash proceeds of $99.8 million. We did not have outstanding accounts receivable sold pursuant to the RSAs at January 1, 2021.