Receivables, Net

9 Months Ended

Sep. 30, 2024

Receivables, Net

Receivables, Net

8.     Receivables, Net

	September 30,		December 31,
($ in millions)	2024		2023
Trade accounts receivable	$	1,707	$	1,165
Unbilled receivables		501		520
Less: Allowance for doubtful accounts		(13)		(15)
Net trade accounts receivable		2,195		1,670
Other receivables		460		387
	$	2,655	$	2,057

The company has entered into several regional 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 $1.63 billion and $2.00 billion at September 30, 2024, and December 31, 2023, respectively. A total of $702 million and $350 million were available for sale under these programs as of September 30, 2024, and December 31, 2023, respectively. The combined limit and available for sale amount as of December 31, 2023, included $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 $12 million and $29 million for the three months ended September 30, 2024 and 2023, respectively, and $35 million and $69 million for the nine months ended September 30, 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.