
	At June 30, 2026	At December 31, 2025
(in millions of U.S. dollars)	Current	Current
Trade receivables - gross	1,020	614
Allowance for credit losses	(4)	(3)
Total trade receivables - net	1,016	611
Total other receivables	151	112
Total trade receivables and other	1,167	723

The Group has entered into several accounts receivable factoring programs with selected financial institutions for certain

receivables of the Group. The programs are accounted for as sales of the receivables and had combined limits of approximately

$713 million and $729 million at June 30, 2026 and December 31, 2025, respectively.

Proceeds on receivables sold under our ongoing factoring programs were $1,026 million and $1,004 million for the three

months ended June 30, 2026 and 2025, respectively. Proceeds on receivables sold under our ongoing factoring programs were

$1,990 million and $1,751 million for the six months ended June 30, 2026 and 2025, respectively. At June 30, 2026 and

December 31, 2025, the total amount of receivables derecognized under the Group’s factoring arrangements was $418 million

Starting in fiscal year 2025, the proceeds from the sale of accounts receivables consisted of only cash. Prior to January 1,

2025, the proceeds from the sale of certain of these receivables was comprised of a combination of cash and deferred purchase

price receivable. The deferred purchase price receivable was ultimately realized by the Group following the collection by the

financial institutions of the underlying receivables sold. For the six months ended June 30, 2025, the beginning deferred

purchase price balance was $2 million, of which $2 million was fully collected in cash. This resulted in an ending deferred

purchase price receivable balance of $0 million for the six months ended June 30, 2025, recorded in Fair value of derivative

instruments and other financial assets in the Consolidated Balance Sheets.

The Group has recorded $5 million and $6 million of expenses related to its factoring programs in the three months ended

June 30, 2026 and 2025, respectively. The Group has recorded $9 million and $11 million of expenses related to its factoring

programs in the six months ended June 30, 2026 and 2025, respectively. These amounts are presented in Other gains and losses