We have agreements with various third-party financial institutions pertaining to the sales of certain types of our accounts receivable. The most significant of these programs consists of receivables arising from equipment installment plans, which are sold for cash and a deferred purchase price. Under this program, we transfer receivables to purchasers in exchange for cash and additional consideration upon settlement of the receivables. Under the terms of our agreement for this program, we continue to service the transferred receivables on behalf of the financial institutions.

The following table sets forth a summary of cash proceeds received, net of remittances paid, from sales of receivables during the three and nine months ended September 30, 2023 and 2022:


	Three months ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Net cash (paid) received from equipment installment receivables1	$	293	$	450	$	233	$	1,543
Net cash received from other programs2	103		307		847		636
Total net cash impact to cash flows from operating activities	$	396	$	757	$	1,080	$	2,179
1Cash from initial sales of $2,937 and $2,664 for the three months and $8,122 and $8,598 for the nine months ended September 30, 2023 and 2022, respectively.
2Certain transferred receivables are guaranteed by a subsidiary that holds additional receivables in the amount of $823, which are pledged as collateral and represent our maximum exposure to loss.

The sales of receivables did not have a material impact on our consolidated statements of income or to “Total Assets” reported on our consolidated balance sheets. We reflect cash receipts on sold receivables as cash flows from operations in our consolidated statements of cash flows. Cash receipts on the deferred purchase price are classified as cash flows from investing activities, when applicable.


	September 30, 2023		December 31, 2022


Gross receivables:	$	3,586		$	4,165
Balance sheet classification
Accounts receivable
Notes receivable	1,366			1,789
Trade receivables	531			522
Other Assets
Noncurrent notes and trade receivables	1,689			1,854

Outstanding portfolio of receivables derecognized from our consolidated balance sheets	$	11,790		$	11,030
Cash proceeds received, net of remittances1	8,918			8,519
1Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price.

We offer our customers the option to purchase certain wireless devices in installments over a specified period of time and, in many cases, once certain conditions are met, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled.

We maintain a program under which we transfer a portion of these receivables through our bankruptcy-remote subsidiary in exchange for cash and additional consideration upon settlement of the receivables, referred to as the deferred purchase price. In the event a customer trades in a device prior to the end of the installment contract period, we agree to make a payment to the financial institutions equal to any outstanding remaining installment receivable balance. Accordingly, we record a guarantee obligation for this estimated amount at the time the receivables are transferred.

The following table sets forth a summary of equipment installment receivables sold under this program during the three and nine months ended September 30, 2023 and 2022:


	Three months ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Gross receivables sold1	$	2,968	$	2,698	$	8,215	$	8,950
Net receivables sold2	2,842		2,590		7,834		8,623
Cash proceeds received	2,937		2,664		8,122		8,598
Deferred purchase price recorded	—		—		—		245
Guarantee obligation recorded	249		173		697		469
1Receivables net of promotion credits.
2Receivables net of allowance, imputed interest and equipment trade-in right guarantees.

The deferred purchase price and guarantee obligation are initially recorded at estimated fair value and subsequently adjusted for changes in present value of expected cash flows. The estimation of their fair values is based on remaining installment payments expected to be collected and the expected timing and value of device trade-ins. The estimated value of the device trade-ins considers prices offered to us by independent third parties and contemplate changes in value after the launch of a device model. The fair value measurements used for the deferred purchase price and the guarantee obligation are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 7).

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, 2023 and 2022:


	Three months ended				Nine months ended
	September 30,				September 30,
	2023		2022		2023		2022
Fair value of repurchased receivables	$	732	$	1,386	$	2,038	$	3,314
Carrying value of deferred purchase price	740		1,395		2,051		3,335
Gain (loss) on repurchases1	$	(8)	$	(9)	$	(13)	$	(21)
1These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income.

At September 30, 2023 and December 31, 2022, our deferred purchase price receivable was $2,459 and $2,318, respectively, of which $1,538 and $1,278 are included in “Prepaid and other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” The guarantee obligation at September 30, 2023 and December 31, 2022 was $349 and $419, respectively, of which $116 and $73 are included in “Accounts payable and accrued liabilities” on our consolidated balance sheets, with the remainder in “Other noncurrent liabilities.” Our maximum exposure to loss as a result of selling these equipment installment receivables is limited to the total amount of our deferred purchase price and guarantee obligation.