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Other Current Assets

12 Months Ended

Dec. 31, 2022

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

OTHER CURRENT ASSETS

Other current assets consisted of the following:

	December 31, 2022		December 31, 2021
Public funding receivables		190		296
Taxes and other government receivables		270		119
Advances and prepayments		125		118
Loans and deposits		10		8
Interest receivable		22		1
Derivative instruments		56		6
Other current assets		61		33
Total		734		581

Derivative instruments are further described in Note 27.

The Company applies a current expected credit losses model on all financial assets measured at amortized cost, including deposits, loans and receivables. The major portion of other current assets to which this model applies corresponds to government receivables. Due to the existing history of zero-default on receivables originated by governments, the expected credit losses are assumed to be not significant as of December 31, 2022 and December 31, 2021. Other current assets presented in the table above within the lines “Loans and deposits” and “Other current assets” are composed of individually insignificant amounts at exposure of default. Consequently, no significant loss allowance was reported on those current assets as of December 31, 2022 and December 31, 2021.

Public funding receivables are described in Note 7.

Taxes and other government receivables include receivables related to value-added tax, primarily in European tax jurisdictions.