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Long-term Financing and Sales of Receivables
9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Long-term Financing and Sales of Receivables
Long-term Financing and Sales of Receivables
Long-term Financing
Long-term receivables consist of receivables with payment terms greater than twelve months, long-term loans and lease receivables under sales-type leases. Long-term receivables consist of the following: 
 
September 30,
2017
 
December 31,
2016
Long-term receivables
$
43

 
$
63

Less current portion
(19
)
 
(14
)
Non-current long-term receivables
$
24

 
$
49


The current portion of long-term receivables is included in Accounts receivable, net and the non-current portion of long-term receivables is included in Other assets in the Company’s condensed consolidated balance sheets. The Company had outstanding commitments to provide long-term financing to third parties totaling $135 million at September 30, 2017, compared to $125 million at December 31, 2016.
Sales of Receivables
The following table summarizes the proceeds received from sales of accounts receivable and long-term receivables for the three and nine months ended September 30, 2017 and October 1, 2016
 
Three Months Ended
 
Nine Months Ended
  
September 30,
2017
 
October 1,
2016
 
September 30,
2017
 
October 1,
2016
Accounts receivable sales proceeds
$
99

 
$
8

 
$
179

 
$
15

Long-term receivables sales proceeds
55

 
39

 
123

 
173

Total proceeds from receivable sales
$
154

 
$
47

 
$
302

 
$
188


At September 30, 2017, the Company had retained servicing obligations for $780 million of long-term receivables, compared to $774 million at December 31, 2016. Servicing obligations are limited to collection activities related to the sales of accounts receivables and long-term receivables.
Credit Quality of Financing Receivables and Allowance for Credit Losses
An aging analysis of financing receivables at September 30, 2017 and December 31, 2016 is as follows: 
September 30, 2017
Total
Long-term
Receivable
 
Current Billed
Due
 
Past Due Under 90 Days
 
Past Due Over 90 Days
Municipal leases secured tax exempt
$
25

 
$

 
$

 
$
2

Commercial loans and leases secured
18

 
3

 
1

 
1

Long-term receivables, including current portion
$
43

 
$
3

 
$
1

 
$
3

December 31, 2016
Total
Long-term
Receivable
 
Current Billed
Due
 
Past Due Over 90 Days
Municipal leases secured tax exempt
$
20

 
$

 
$

Commercial loans and leases secured
43

 

 
2

Long-term receivables, including current portion
$
63

 
$

 
$
2