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Annual report pursuant to Section 13 and 15(d)

Note 14 - Debt - Accounts Receivable Programs (Details)

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Note 14 - Debt - Accounts Receivable Programs (Details)
鈧� in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2023
EUR (鈧�)
Dec. 31, 2022
USD ($)
Amount outstanding $ 1,688 听 $ 1,737
US A/R Program [Member] 听 听 听
Maturity Jul. 31, 2024 听 听
Maximum funding availability [1] $ 150 听 听
Amount outstanding [2] $ 110 听 听
US A/R Program [Member] | Term Secured Overnight Financing Rate (Term SOFR) [Member] 听 听 听
Interest rate [3] 0.90% 听 听
EU A/R Program [Member] 听 听 听
Maturity Jul. 31, 2024 听 听
Maximum funding availability [1] $ 111 鈧� 100 听
Amount outstanding $ 59 鈧� 53 听
EU A/R Program [Member] | Term SOFR, EURIBOR, or SONIA [Member] 听 听 听
Interest rate [3] 1.30% 听 听
[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 December 31, 2023, we had approximately $6 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.