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Other Non-Current Assets

12 Months Ended

Dec. 31, 2019

Investments All Other Investments [Abstract]

13.

OTHER NON-CURRENT ASSETS

Other non-current assets consisted of the following:

	December 31,		December 31,
	2019		2018
Equity securities		23		19
Long-term state receivables		358		391
Deposits and other non-current assets		56		42
Total		437		452

Long-term state receivables include receivables related to funding and receivables related to tax refund. Funding are mainly public grants to be received from governmental agencies in Italy and France as part of long-term research and development, industrialization and capital investment projects. Long-term receivables related to tax refund correspond to tax benefits claimed by the Company in certain of its local tax jurisdictions, for which collection is expected beyond one year.

In 2019 and 2018, the Company entered into a factoring transaction to accelerate the realization in cash of some non-current assets. As at December 31, 2019, $131 million of the non-current assets were sold without recourse, compared to $122 million as at December 31, 2018, with a financial cost of less than $1 million for both periods.