Factoring of Accounts Receivable

9 Months Ended

Sep. 30, 2016

Factoring of Accounts Receivable [Abstract]

Factoring of Accounts Receivable [Table Text Block]

9.    Factoring of Accounts Receivable

In certain foreign locations, we use non-recourse factoring arrangements with third party financial institutions to manage our working capital and cash flows. Under this program, we sell receivables to a financial institution for cash at a discount to the face amount. As part of the factoring arrangements, we perform certain collection and administrative functions for the receivables sold. For the three and nine months ended September 30, 2016, we sold accounts receivable totaling $161.6 million and $431.8 million, respectively, for a discount, plus fees, of $0.8 million and $1.7 million, respectively. For the three and nine months ended September 30, 2015, we sold accounts receivable totaling $82.4 million and $235.3 million, respectively, for a discount, plus fees, of $0.3 million and $1.1 million, respectively.