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Accounts Receivable Securitization Program
 6 Months Ended
Jun. 30, 2026
Transfers and Servicing [Abstract]  
Accounts Receivable Securitization Program Accounts Receivable Securitization Program
On March 15, 2022, the Company entered into an accounts receivable securitization program (“Securitization Facility”) with a financial institution ("Purchaser"), through our wholly owned special purpose bankruptcy-remote subsidiary Tronox Securitization LLC (“ SPE”). As the Company does not maintain effective control over the sold receivables, we derecognize the sold receivables from our unaudited Condensed Consolidated Balance Sheet and classify the cash proceeds as source of cash from operating activities in our unaudited Condensed Consolidated Statement of Cash Flows.
In March 2026, the Securitization Facility was amended to increase the facility limit from $230 million to $255 million. In May 2026, the Securitization Facility was amended to further increase the facility limit from $255 million to $275 million.
The program is structured on a revolving basis under which cash collections from receivables are used to fund additional purchases of receivables at 100% face value, not to exceed the facility limit. As of June 30, 2026 and December 31, 2025, the total value of accounts receivables sold under the Securitization Facility and derecognized from the Company's unaudited Condensed Consolidated Balance Sheet was $275 million and $230 million, respectively. Additionally, at June 30, 2026 and December 31, 2025, we retained approximately $152 million and $133 million, respectively, of unsold receivables which we pledged as collateral for the sold receivables.
The following table sets forth a summary of the receivables sold and fees incurred under the program during the related periods:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash proceeds from collections reinvested in the program$308 $290 $589 $546 
Incremental accounts receivables sold328 290 634 561 
Fees incurred1
4 3 7 7 
1 Amounts relate to monthly utilization of the Securitization Facility and related third-party advisor fees. Such amounts are recorded in "Other income (expense), net" in our unaudited Condensed Consolidated Statement of Operations.