Receivables, Net (Tables)

9 Months Ended

Sep. 30, 2012

Accounts receivables sales were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Accounts receivable sales	$	725		$	754		$	2,816		$	2,303
Deferred proceeds	122			93			525			290
Fees associated with sales	4			5			16			14
Estimated decrease to operating cash flows⁽¹⁾	(266		)	(35		)	(168		)	(29		)

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(1)	Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and (iii) currency. The three months ended September 30, 2012 includes cash outflows related to our U.S. revolving facility of $215.

The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables:



	United States			Canada			Europe			Other⁽³⁾			Total
Allowance for Credit Losses:
Balance at December 31, 2011	$	75		$	33		$	91		$	2		$	201
Provision	2			1			12			—			15
Charge-offs	(4		)	(3		)	(12		)	—			(19		)
Recoveries and other⁽¹⁾	1			2			2			1			6
Balance at March 31, 2012	74			33			93			3			203
Provision	3			2			11			1			17
Charge-offs	(5		)	(4		)	(15		)	—			(24		)
Recoveries and other⁽¹⁾	1			—			(6		)	(1		)	(6		)
Balance at June 30, 2012	$	73		$	31		$	83		$	3		$	190
Provision	3			3			9			—			15
Charge-offs	(8		)	(5		)	(11		)	—			(24		)
Recoveries and other⁽¹⁾	—			2			3			—			5
Sale of finance receivables	(9		)	—			—			—			(9		)
Balance at September 30, 2012	$	59		$	31		$	84		$	3		$	177
Finance receivables as of September 30, 2012 collectively evaluated for impairment⁽²⁾	$	2,384		$	811		$	2,466		$	168		$	5,829

Allowance for Credit Losses:
Balance at December 31, 2010	$	91		$	37		$	81		$	3		$	212
Provision	7			4			11			—			22
Charge-offs	(10		)	(5		)	(8		)	—			(23		)
Recoveries and other⁽¹⁾	(1		)	2			3			—			4
Balance at March 31, 2011	87			38			87			3			215
Provision	1			3			14			—			18
Charge-offs	(6		)	(5		)	(11		)	—			(22		)
Recoveries and other⁽¹⁾	(1		)	—			(1		)	—			(2		)
Balance at June 30, 2011	$	81		$	36		$	89		$	3		$	209
Provision	4			1			18			—			23
Charge-offs	(7		)	(3		)	(19		)	—			(29		)
Recoveries and other⁽¹⁾	1			(1		)	(5		)	—			(5		)
Balance at September 30, 2011	$	79		$	33		$	83		$	3		$	198
Finance receivables as of September 30, 2011 collectively evaluated for impairment⁽²⁾	$	2,943		$	793		$	2,714		$	95		$	6,545

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(1)	Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.


(2)	Total Finance receivables exclude residual values of $3 and $8, and the allowance for credit losses of $177 and $198 at September 30, 2012 and 2011, respectively.


(3)	Includes developing market countries and smaller units.

Details about our finance receivables portfolio based on industry and credit quality indicators are as follows:

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(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.

The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows:



	September 30, 2012
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	20	$	4	$	2	$	26	$	606	$	632	$	18
Government and Education	24		4		3		31		750		781		35
Graphic Arts	21		2		1		24		362		386		11
Industrial	9		2		1		12		207		219		9
Healthcare	7		2		—		9		160		169		6
Other	8		1		1		10		187		197		7
Total United States	89		15		8		112		2,272		2,384		86
Canada	5		3		1		9		802		811		29
France	4		—		—		4		676		680		32
U.K./Ireland	4		1		3		8		418		426		5
Central⁽¹⁾	6		2		3		11		791		802		40
Southern⁽²⁾	25		11		12		48		416		464		68
Nordics⁽³⁾	2		—		—		2		92		94		—
Total Europe	41		14		18		73		2,393		2,466		145
Other	3		1		—		4		164		168		—
Total	$	138	$	33	$	27	$	198	$	5,631	$	5,829	$	260

	December 31, 2011
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	18	$	4	$	1	$	23	$	866	$	889	$	15
Government and Education	21		5		2		28		817		845		29
Graphic Arts	16		2		1		19		479		498		7
Industrial	7		2		1		10		285		295		6
Healthcare	5		2		—		7		193		200		5
Other	8		1		—		9		257		266		4
Total United States	75		16		5		96		2,897		2,993		66
Canada	3		2		1		6		819		825		27
France	1		1		1		3		689		692		16
U.K./Ireland	3		2		3		8		409		417		4
Central⁽¹⁾	7		2		3		12		869		881		46
Southern⁽²⁾	31		4		13		48		490		538		82
Nordics⁽³⁾	1		—		—		1		101		102		—
Total Europe	43		9		20		72		2,558		2,630		148
Other	2		1		—		3		105		108		—
Total	$	123	$	28	$	26	$	177	$	6,379	$	6,556	$	241

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(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.