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Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Debt - Accounts Receivable Programs (Details)

v3.21.1
Note 8 - Debt - Accounts Receivable Programs (Details)
� in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2021
USD ($)
Mar. 31, 2021
EUR (�)
Dec. 31, 2020
USD ($)
Amount outstanding $ 1,567 Ìý $ 2,121
Approximate maximum funding availability under all A/R programs 118 Ìý Ìý
Approximate amount outstanding under all A/R programs Ìý Ìý
US A/R Program [Member] Ìý Ìý Ìý
Maturity Apr. 30, 2022 Ìý Ìý
Maximum funding availability [1] $ 150 Ìý Ìý
Amount outstanding [2] $ 0 Ìý Ìý
US A/R Program [Member] | London Interbank Offered Rate (LIBOR) [Member] Ìý Ìý Ìý
Interest rate [3] 0.90% Ìý Ìý
EU A/R Program [Member] Ìý Ìý Ìý
Maturity Apr. 30, 2022 Ìý Ìý
Maximum funding availability | â‚� [1] Ìý â‚� 100 Ìý
Amount outstanding | â‚� Ìý â‚� 0 Ìý
EU A/R Program [Member] | GBP LIBOR, USD LIBOR or EURIBOR [Member] Ìý Ìý Ìý
Interest rate [3] 1.30% Ìý Ìý
[1] The amount of actual availability under our A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements.
[2] As of March 31, 2021, we had approximately $5 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program. As of March 31, 2021 and December 31, 2020, $245 million and $198 million, respectively, of accounts receivable were pledged as collateral under our A/R Programs.
[3] The applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. The applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR.