Schedule of Finance Receivables |
The following table sets forth a summary of cash proceeds received, net of remittances paid, from sales of receivables: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 30, | | September 30, | | 2024 | | 2023 | | 2024 | | 2023 | Net cash received (paid) from equipment installment receivables program1 | $ | (568) | | | $ | 293 | | | $ | (1,121) | | | $ | 233 | | Net cash received (paid) from revolving receivables program | 938 | | | 479 | | | 1,185 | | | 1,479 | | Net cash received (paid) from other programs | — | | | (376) | | | — | | | (632) | | Total net cash impact to cash flows from operating activities2 | $ | 370 | | | $ | 396 | | | $ | 64 | | | $ | 1,080 | | 1Cash from initial sales of $2,442 and $2,937 for the three months and $7,848 and $8,122 for the nine months ended September 30, 2024 and 2023, respectively. | 2Net of facility fees. |
The following table sets forth a summary of the receivables and accounts being serviced: | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | | December 31, 2023 | | Equipment | | | | Equipment | | | | Installment | | Revolving | | Installment | | Revolving | Gross receivables: | $ | 2,940 | | | $ | 195 | | | $ | 3,714 | | | $ | 924 | | Balance sheet classification | | | | | | | | Accounts receivable | | | | | | | | Notes receivable | 1,665 | | | — | | | 1,695 | | | — | | Trade receivables | 200 | | | 195 | | | 548 | | | 924 | | Other Assets | | | | | | | | Noncurrent notes and trade receivables | 1,075 | | | — | | | 1,471 | | | — | | | | | | | | | | Outstanding portfolio of receivables derecognized from our consolidated balance sheets | $ | 11,872 | | | $ | 2,770 | | | $ | 12,027 | | | $ | 1,500 | | Cash proceeds received, net of remittances1 | 8,470 | | | 2,770 | | | 9,361 | | | 1,500 | | 1Represents amounts to which financial institutions remain entitled, excluding the beneficial interests. |
The following table sets forth a summary of equipment installment receivables sold under this program: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 30, | | September 30, | | 2024 | | 2023 | | 2024 | | 2023 | Gross receivables sold1 | $ | 2,469 | | | $ | 2,968 | | | $ | 7,930 | | | $ | 8,215 | | Net receivables sold2 | 2,340 | | | 2,842 | | | 7,535 | | | 7,834 | | Cash proceeds received | 2,442 | | | 2,937 | | | 7,848 | | | 8,122 | | | | | | | | | | Guarantee obligation recorded | 199 | | | 249 | | | 682 | | | 697 | | 1Receivables net of promotion credits. | 2Receivables net of allowance and other reserves. |
The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated beneficial interests: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 30, | | September 30, | | 2024 | | 2023 | | 2024 | | 2023 | Fair value of repurchased receivables | $ | 951 | | | $ | 732 | | | $ | 2,393 | | | $ | 2,038 | | Carrying value of beneficial interests | 956 | | | 740 | | | 2,420 | | | 2,051 | | Gain (loss) on repurchases1 | $ | (5) | | | $ | (8) | | | $ | (27) | | | $ | (13) | | 1These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income. |
|
Schedule of Receivables Sold |
The following table sets forth a summary of the revolving receivables sold: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 30, | | September 30, | | 2024 | | 2023 | | 2024 | | 2023 | Gross receivables sold/cash proceeds received1 | $ | 5,620 | | | $ | 4,053 | | | $ | 14,466 | | | $ | 5,053 | | Total collections under revolving agreement | 4,650 | | | 3,553 | | | 13,196 | | | 3,553 | | | | | | | | | | Net cash proceeds received | $ | 970 | | | $ | 500 | | | $ | 1,270 | | | $ | 1,500 | | | | | | | | | | Net receivables sold2 | $ | 5,463 | | | $ | 3,958 | | | $ | 14,075 | | | $ | 4,940 | | | | | | | | | | 1Includes initial sales of receivables of $970 and $500 for the three months and $1,270 and $1,500 for the nine months ended September 30, 2024 and 2023, respectively. | | 2Receivables net of allowance and other reserves. |
|