Trade and other receivables, net

12 Months Ended

Dec. 31, 2020

Trade and other receivables, net

Trade and other receivables, net

6.  TRADE AND OTHER RECEIVABLES, NET

	December 31,		December 31,
	2020		2019
U.S. government receivables:
Billed	$	84	$	88
Unbilled		76		46
		160		134
Other governments and commercial receivables:
Billed		97		123
Unbilled		19		54
		116		177
Total trade receivables		276		311
Orbital receivables, current portion		49		43
Other		3		4
Allowance for doubtful accounts		(1)		(1)
Trade and other receivables, net	$	327	$	357

As of December 31, 2020 and 2019, non-current orbital receivables, net of allowances were $361 million and $382 million, respectively.

The Company has orbital receivables from 14 customers for which the largest customer’s value represents 19% and 27% of the stated balance sheet value for the years ended December 31, 2020 and 2019, respectively.

The changes in allowance for expected credit losses related to non-current orbital receivables for the years ended December 31, 2020 and 2019, consist of the following:

	Orbital Receivables Allowance
Allowance as of December 31, 2018	$	(21)
Additions		(14)
Allowance as of December 31, 2019		(35)
Additions		(14)
Allowance as of December 30, 2020	$	(49)

The expected timing of total contractual cash flows, including principal and interest payments for orbital receivables is as follows:

	2021		2022		2023		2024		2025		Thereafter		Total
Contractual cash flows from orbital receivables	$	69	$	70	$	77	$	76	$	69	$	340	$	701

During the year ended December 31, 2020, the Company did not sell any eligible orbital receivables or repurchase any orbital receivables. During the year ended December 31, 2019, the Company did not sell any eligible orbital receivables and repurchased $24 million of specifically identified orbital receivables. The orbital receivables were repurchased as a result of its customer transferring the obligation to another entity which did not meet the credit criteria of its lenders. The net proceeds received on sold orbital receivables have been recognized as securitization liabilities.

Securitization liabilities as of December 31, 2020 and 2019, are as follows:

	December 31,		December 31,
	2020		2019
Current portion	$	14	$	17
Non-current portion		47		48
Total securitization liabilities	$	61	$	65