Factoring of Accounts Receivable

3 Months Ended

Mar. 31, 2019

Factoring of Accounts Receivable [Abstract]

Factoring of Accounts Receivable

Factoring of Accounts Receivable

For certain accounts receivable, 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 months ended March 31, 2019 and 2018, we sold receivables totaling $155.7 million and $225.5 million, net of discounts and fees of $1.2 million and $1.8 million, respectively.