Accounts, Notes and Other Receivables-Net |
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| Accounts, Notes and Other Receivables-Net | Note 6. Accounts, Notes and Other Receivables—Net
Trade receivables include $51 million and $40 million of unbilled customer contract asset balances as of June 30, 2025 and December 31, 2024, respectively. These amounts are billed in accordance with the terms of customer contracts to which they relate. See Note 3, Revenue Recognition and Contracts with Customers. Notes receivable is related to guaranteed bank notes without recourse that the Company receives in settlement of accounts receivables, primarily in the Asia Pacific region. See Note 7, Factoring and Notes Receivable. Other receivables includes VAT receivables of $41 million and $50 million as of June 30, 2025 and December 31, 2024, respectively.
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