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Accounts Receivable Sale Programs
3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Accounts Receivable Sale Programs

Note 10 – Accounts Receivable Sale Programs

As of March 31, 2023, 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 $200.0 million of specific accounts receivable at any one time.

During the three months ended March 31, 2023 and 2022, the Company sold $152.8 million and $107.2 million, respectively, of accounts receivable under these programs, and in exchange, the Company received cash proceeds of $151.8 million and $107.0 million, respectively, net of the discount. The sale discount was recorded to other expense within the condensed consolidated statements of income.