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Receivables
9 Months Ended
Sep. 30, 2013
Receivables  
Receivables

6.              Receivables

 

 

 

September 30,

 

December 31,

 

($ in millions) 

 

2013

 

2012

 

 

 

 

 

 

 

Trade accounts receivable

 

$

1,061.2

 

$

878.3

 

Less allowance for doubtful accounts

 

(39.3

)

(13.7

)

Net trade accounts receivable

 

1,021.9

 

864.6

 

Other receivables

 

65.6

 

65.5

 

 

 

$

1,087.5

 

$

930.1

 

 

The allowance for doubtful accounts at September 30, 2013, includes a provision recorded in the third quarter as a result of the October 28, 2013, bankruptcy filing of a metal food and household products packaging segment customer. Additional details are available in Note 5.

 

The company has several regional uncommitted accounts receivable factoring programs with various financial institutions for certain receivables of the company. The programs are accounted for as true sales of the receivables, without recourse to Ball, and had combined limits of approximately $245 million at September 30, 2013. A total of $149.5 million and $75.0 million were sold under these programs as of September 30, 2013, and December 31, 2012, respectively. Latapack-Ball also has a non-recourse uncommitted accounts receivable factoring program in 2013 with a limit of approximately $24 million (55 million Brazilian real), under which there were no accounts receivable sold as of September 30, 2013.