RECEIVABLES, NET

3 Months Ended

Apr. 01, 2022

Receivables [Abstract]

RECEIVABLES, NET

NOTE D — RECEIVABLES, NET

Receivables, net are summarized below:

(In millions)	April 1, 2022		December 31, 2021
Accounts receivable	$	1,324	$	1,088
Less: allowances for collection losses	(41)		(43)
Receivables, net	$	1,283	$	1,045

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 was $99 million at April 1, 2022 and $100 million at December 31, 2021, with net cash proceeds of $98 million and $100 million, respectively.