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Accounts and Notes Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table sets forth the components of the Company’s accounts and notes receivable, net at December 31, 2020 and 2019.

	December 31,
	2020		2019
Accounts receivable - trade, net (1,2)	$	449	$	602
VAT, GST, and other taxes (3)		49		59
Other receivables (4)		13		13
Total accounts and notes receivable, net	$	511	$	674

(1)

Accounts receivable - trade, net includes trade notes receivable of less than $1 and is net of allowances for doubtful accounts of $7 and $5 at December 31, 2020 and 2019, respectively. Such allowances are equal to the estimated uncollectible amounts.

(2)

On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, the effect of which was not material to its account receivable - trade or its allowance for doubtful accounts. Refer to “Note 3 – Summary of Significant Accounting Policies” for further details.

(3)

Value added tax (“VAT”) and goods and services tax (“GST”) for various jurisdictions.

(4)

Other receivables consist of derivative instruments, advances, and other deposits.