v3.20.2
Sale of Equipment Installment Receivables (Tables)
6 Months Ended
Jun. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Finance Receivables [Table Text Block]

 

 

June 30, 2020

 

December 31, 2019

 

 

Equipment

 

 

 

 

Equipment

 

 

 

 

 

Installment

 

Revolving

 

Installment

 

Revolving

Gross receivables:

$

3,931

 

$

3,745

 

$

4,576

 

$

3,324

Balance sheet classification

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

 

 

 

 

 

 

 

 

 

 

Notes receivable

 

2,056

 

 

-

 

 

2,467

 

 

-

Trade receivables

 

496

 

 

3,547

 

 

477

 

 

2,809

Other Assets

 

 

 

 

 

 

 

 

 

 

 

Noncurrent notes and trade receivables

 

1,379

 

 

198

 

 

1,632

 

 

515

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding portfolio of receivables derecognized from

 

 

 

 

 

 

 

 

 

 

 

our consolidated balance sheets

 

8,917

 

 

5,300

 

 

9,713

 

 

4,300

Cash proceeds received, net of remittances1

 

6,429

 

 

5,300

 

 

7,211

 

 

4,300

1

Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price.

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2020

 

2019

 

2020

 

2019

Gross receivables sold

$

1,506

 

$

2,244

 

$

3,873

 

$

4,945

Net receivables sold1

 

1,449

 

 

2,133

 

 

3,722

 

 

4,679

Cash proceeds received

 

1,225

 

 

1,920

 

 

3,175

 

 

4,195

Deferred purchase price recorded

 

232

 

 

261

 

 

585

 

 

570

Guarantee obligation recorded

 

27

 

 

93

 

 

71

 

 

194

1

Receivables net of allowance, imputed interest and equipment trade-in right guarantees.

Transfer of Financial Assets Accounted for as Sales [Table Text Block]

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2020

 

2019

 

2020

 

2019

Gross receivables sold/cash proceeds received1

$

3,805

 

$

4,452

 

$

8,027

 

$

5,852

Collections reinvested under revolving agreement

 

3,805

 

 

2,127

 

 

7,027

 

 

2,127

Net cash proceeds received (remitted)

$

-

 

$

2,325

 

$

1,000

 

$

3,725

 

 

 

 

 

 

 

 

 

 

 

 

 

Net receivables sold2

$

3,819

 

$

4,134

 

$

7,957

 

$

5,497

Obligations recorded (reversed)

 

(12)

 

 

384

 

 

114

 

 

436

1

Includes initial sale of receivables of $0 and $2,325 for the three months and $1,000 and $3,725 for the six months ended

 

June 30, 2020 and 2019, respectively.

 

 

 

 

 

 

 

 

 

 

 

2

Receivables net of allowance, return and incentive reserves and imputed interest

Deferred Purchase Price [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Finance Receivables [Table Text Block]

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2020

 

2019

 

2020

 

2019

Fair value of repurchased receivables

$

285

 

$

235

 

$

573

 

$

658

Carrying value of deferred purchase price

 

281

 

 

225

 

 

558

 

 

632

Gain on repurchases1

$

4

 

$

10

 

$

15

 

$

26

1

These gains are included in “Selling, general and administrative” in the consolidated statements of income.