Receivables, Net

9 Months Ended

Sep. 30, 2023

Receivables, Net

Receivables, Net

8.     Receivables, Net

	September 30,		December 31,
($ in millions)	2023		2022
Trade accounts receivable	$	883	$	1,373
Unbilled receivables		789		746
Less: Allowance for doubtful accounts		(12)		(12)
Net trade accounts receivable		1,660		2,107
Other receivables		399		487
	$	2,059	$	2,594

The company has entered into several regional committed and 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 and had combined limits of approximately $2.00 billion and $2.04 billion at September 30, 2023, and December 31, 2022, respectively. A total of $162 million and $488 million were available for sale under these programs as of September 30, 2023, and December 31, 2022, respectively. The company has recorded expense related to its factoring programs of $30 million and $17 million for the three months ended September 30, 2023 and 2022, respectively, and $72 million and $41 million for the nine months ended September 30, 2023 and 2022, respectively, and has presented these amounts in selling, general and administrative in its unaudited condensed consolidated statements of earnings.

Other receivables include income and indirect tax receivables, aluminum scrap sale receivables and other miscellaneous receivables.