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Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Debt - Accounts Receivable Programs (Details)

v3.23.1
Note 7 - Debt - Accounts Receivable Programs (Details)
� in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2023
EUR (�)
Dec. 31, 2022
USD ($)
Amount outstanding $ 1,520 Ìý $ 1,737
US A/R Program [Member] Ìý Ìý Ìý
Maturity Jul. 31, 2024 Ìý Ìý
Maximum funding availability [1] $ 150 Ìý Ìý
Amount outstanding [2] $ 0 Ìý Ìý
US A/R Program [Member] | LIBOR - London Interbank Offered Rate [Member] Ìý Ìý Ìý
Interest rate [3] 0.90% Ìý Ìý
EU A/R Program [Member] Ìý Ìý Ìý
Maturity Jul. 31, 2024 Ìý Ìý
Maximum funding availability [1] $ (109) â‚� 100 Ìý
Amount outstanding â‚� 0 Ìý
EU A/R Program [Member] | USD LIBOR, EURIBOR, or SONIA [Member] Ìý Ìý Ìý
Interest rate [3] 1.30% Ìý Ìý
[1] The amount of actual availability under our A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements.
[2] As of March 31, 2023, we had approximately $8 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program.
[3] The applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. The applicable rate for our EU A/R Program is either USD LIBOR, EURIBOR or SONIA (Sterling Overnight Interbank Average Rate). In anticipation of the transition away from USD LIBOR, the amendments we made in July 2021 to our A/R Programs incorporated replacement rates for the USD LIBOR.