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Quarterly report [Sections 13 or 15(d)]

Note 9 - Debt - Accounts Receivable Programs (Details)

v3.25.1
Note 9 - Debt - Accounts Receivable Programs (Details)
� in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
EUR (�)
Dec. 31, 2024
USD ($)
Amount outstanding $ 1,954 Ìý $ 1,835
US A/R Program [Member] Ìý Ìý Ìý
Maturity Jan. 31, 2027 Ìý Ìý
Maximum funding availability [1] $ 150 Ìý Ìý
Amount outstanding [2] $ 104 Ìý Ìý
US A/R Program [Member] | Term Secured Overnight Financing Rate (Term SOFR) [Member] Ìý Ìý Ìý
Interest rate [3] 0.95% Ìý Ìý
EU A/R Program [Member] Ìý Ìý Ìý
Maturity Jul. 31, 2027 Ìý Ìý
Maximum funding availability [1] $ 108 â‚� 100 Ìý
Amount outstanding $ 59 â‚� 55 Ìý
EU A/R Program [Member] | Term SOFR, EURIBOR, or SONIA [Member] Ìý Ìý Ìý
Interest rate [3] 1.45% 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, 2025, we had approximately $5 million (U.S. dollar equivalent) 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 Term SOFR. The applicable rate for our EU A/R Program is either Term SOFR, EURIBOR or SONIA (Sterling Overnight Interbank Average Rate).