Other Assets

Other current assets are comprised of the following components:



	March 31		December 31
	2018		2017
	(Dollars in Millions)
Recoverable taxes	$	52	$	56
Prepaid assets and deposits	48		36
Joint venture receivables	31		43
Notes receivable	30		23
Contractually reimbursable engineering costs	26		14
Foreign currency hedges	4		1
Other	3		2
	$	194	$	175

The Company receives bank notes from certain of its customers in China to settle trade accounts receivable. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third party financial institutions in exchange for cash. The Company has entered into arrangements with financial institutions to sell certain bank notes, generally maturing within nine months. Notes are sold with recourse, but qualify as a sale as all rights to the notes have passed to the financial institution. The Company sold $10 million during the three months ended March 31, 2018 to financial institutions, $4 million of which remains outstanding and will mature no later than the third quarter of 2018. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature.

Other non-current assets are comprised of the following components:



	March 31		December 31
	2018		2017
	(Dollars in Millions)
Deferred tax assets	$	47	$	46
Recoverable taxes	36		35
Contractually reimbursable engineering costs	34		24
Joint venture receivables	24		26
Long term notes receivable	10		10
Other	10		10
	$	161	$	151

In conjunction with the Interiors Divestiture, the Company entered into a three year term loan with the buyer for $10 million, which matures on December 1, 2019.

Current and non-current contractually reimbursable engineering costs of $26 million and $34 million, respectively, as of March 31, 2018, and $14 million and $24 million, respectively, as of December 31, 2017, are related to pre-production design and development costs incurred pursuant to long-term supply arrangements that are contractually guaranteed for reimbursement by customers. The Company expects to receive cash reimbursement payments of approximately $21 million during the remainder of 2018, $31 million in 2019, $2 million in 2020, $2 million in 2021 and $4 million in 2022 and beyond.