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Accounts Receivable Sale Program
12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Accounts Receivable Sales Program

Note 12—Accounts Receivable Sale Program

As of December 31, 2021, in connection with a trade accounts receivable sale program with unaffiliated financial institutions, the Company may elect to sell, at a discount, on an ongoing basis, up to a maximum of $120.0 million of specific accounts receivable at any one time.

During the years ended December 31, 2021, 2020 and 2019, the Company sold $394.6 million, $305.8 million and $284.0 million, respectively, of accounts receivable under this program, and in exchange, the Company received cash proceeds of $394.0 million, $305.2 million and $283.2 million, respectively, net of the discount. The loss on the sale resulting from the discount was recorded to other expense within the consolidated statements of income.