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Other Assets
 6 Months Ended
Jun. 30, 2021
Other Assets [Abstract]  
Other Assets Other Assets
Other current assets are comprised of the following components:
June 30,December 31,
(In millions)20212020
 Recoverable taxes
$39 $52 
 Contractually reimbursable engineering costs
37 31 
 Joint venture receivables
28 53 
 Prepaid assets and deposits
24 18 
Royalty agreements4 7 
China bank notes— 15 
 Other
6 4 
$138 $180 

The Company receives bank notes from certain customers in China to settle trade accounts receivable. 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. The Company redeemed $82 million and $73 million of China bank notes during the six months ended June 30, 2021 and 2020, respectively. Remaining amounts outstanding at third-party institutions related to sold bank notes will mature by the end of the fourth quarter of 2021.
Other non-current assets are comprised of the following components:
June 30,December 31,
(In millions)20212020
Deferred tax assets$56 $55 
Contractually reimbursable engineering costs34 31 
Recoverable taxes22 21 
Royalty agreements3 8 
Joint venture notes receivable— 7 
 Other
11 13 
$126 $135 
Current and non-current contractually reimbursable engineering costs 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 $28 million during the remainder of 2021, $18 million in 2022, $15 million in 2023, $8 million in 2024 and $2 million in 2025 and beyond.