Receivables, Net

3 Months Ended

Mar. 31, 2024

Receivables, Net

Receivables, Net

8.     Receivables, Net

	March 31,		December 31,
($ in millions)	2024		2023
Trade accounts receivable	$	2,050	$	1,165
Unbilled receivables		548		520
Less: Allowance for doubtful accounts		(13)		(15)
Net trade accounts receivable		2,585		1,670
Other receivables		465		387
	$	3,050	$	2,057

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 $1.86 billion and $2.00 billion at March 31, 2024, and December 31, 2023, respectively. A total of $1.30 billion and $350 million were available for sale under these programs as of March 31, 2024, and December 31, 2023, respectively. The combined limit and available for sale amount as of December 31, 2023, include $160 million and $97 million, respectively, associated with receivable factoring programs included within the historical aerospace reportable segment. The company has recorded expense related to its factoring programs of $13 million and $15 million for the three months ended March 31, 2024 and 2023, 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.