The Company enters into arrangements with financial institutions to sell eligible trade receivables. The receivables are sold without recourse and the Company accounts for these arrangements as true sales. The Company also receives guaranteed bank notes without recourse, in settlement of accounts receivables, primarily in the Asia Pacific region. The Company can hold the bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. Bank notes sold to third-party financial institutions without recourse are likewise accounted for as true sales.


	Three Months Ended March 31,
		2026		2025
		(Dollars in millions)
Eligible receivables sold without recourse		$	186	$	152
Guaranteed bank notes sold without recourse		16		16

The expenses related to the sale of trade receivables and guaranteed bank notes are recognized within Other expense, net in the Consolidated Interim Statements of Operations, and were $1 million and $1 million for the three months ended March 31, 2026 and 2025, respectively.


	March 31, 2026		December 31, 2025
	(Dollars in millions)
Receivables sold but not yet collected by the bank from the customer	$	31	$	—
Guaranteed bank notes sold but not yet collected by the bank from the customer	—		—