Factoring of Accounts Receivable

12 Months Ended

Dec. 31, 2017

Factoring of Accounts Receivable [Abstract]

Factoring of Accounts Receivable

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 year ended December 31, 2017 and 2016, we sold accounts receivable totaling $611.2 million and $574.1 million, respectively, net of discounts and fees of $4.6 million and $2.5 million, respectively.