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Accounts Receivable Sale Programs
9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Accounts Receivable Sale Programs

Note 10 – Accounts Receivable Sale Programs

As of September 30, 2022, in connection with trade accounts receivable sale programs 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 three months ended September 30, 2022 and 2021, the Company sold $103.4 million and $109.1 million, respectively, of accounts receivable under these programs, and in exchange, the Company received cash proceeds of $102.9 million and $108.8 million, respectively, net of the discount. During the nine months ended September 30, 2022 and 2021, the Company sold $330.0 million and $275.4 million, respectively, of accounts receivable under these programs, and in exchange, the Company received cash proceeds of $328.9 million and $274.8 million, respectively, net of the discount. The sale discount was recorded to other expense within the condensed consolidated statements of income.