Sales Of Receivables (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Schedule of Finance Receivables

Our equipment installment and revolving receivable programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced:

	September 30, 2020				December 31, 2019
	Equipment				Equipment
	Installment		Revolving		Installment		Revolving
Gross receivables:	$	4,241	$	3,516	$	4,576	$	3,324
Balance sheet classification
Accounts receivable
Notes receivable	2,190		—		2,467		—
Trade receivables	481		3,329		477		2,809
Other Assets
Noncurrent notes and trade receivables	1,570		187		1,632		515
Outstanding portfolio of receivables derecognized from our consolidated balance sheets	8,238		5,100		9,713		4,300
Cash proceeds received, net of remittances1	5,944		5,100		7,211		4,300
1Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price.

The following table sets forth a summary of equipment installment receivables sold under this program during the three and nine months ended September 30, 2020 and 2019:

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Gross receivables sold	$	1,624	$	2,098	$	5,497	$	7,043
Net receivables sold1	1,578		2,014		5,300		6,693
Cash proceeds received	1,387		1,700		4,562		5,895
Deferred purchase price recorded	226		352		811		922
Guarantee obligation recorded	55		67		126		261
1Receivables net of allowance, imputed interest and equipment trade-in right guarantees.

The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price during the three and nine months ended September 30, 2020 and 2019:

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Fair value of repurchased receivables	$	373	$	268	$	946	$	926
Carrying value of deferred purchase price	373		259		931		891
Gain on repurchases1	$	—	$	9	$	15	$	35
1These gains are included in "Selling, general and administrative" in the consolidated statements of income.

Schedule of Receivables Sold

The following table sets forth a summary of receivables sold:

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Gross receivables sold/cash proceeds received1	$	3,563	$	2,873	$	11,590	$	8,725
Collections reinvested under revolving agreement	3,563		2,873		10,590		5,000
Collections not reinvested	200		269		200		269
Net cash proceeds received (remitted)	$	(200)	$	(269)	$	800	$	3,456
Net receivables sold2	$	3,553	$	2,864	$	11,510	$	8,361
Obligations recorded (reversed)	58		39		172		475
1There were no initial sales of receivables in either of the three-month periods and $1,000 and $3,725 for the nine months ended September 30, 2020 and 2019, respectively.
2Receivables net of allowance, return and incentive reserves and imputed interest.