RECEIVABLES, NET

9 Months Ended

Sep. 30, 2022

NOTE E— RECEIVABLES, NET

Receivables, net are summarized below:


(In millions)	September 30, 2022		December 31, 2021

Accounts receivable	$	1,175	$	1,088
Less: allowances for collection losses	(37)		(43)
Receivables, net	$	1,138	$	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 of outstanding receivables per agreement 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 provided by operating activities. We did not have outstanding accounts receivable sold pursuant to the RSAs at September 30, 2022. Outstanding accounts receivable sold pursuant to the RSAs were $99.9 million at December 31, 2021, with net cash proceeds of $99.8 million.