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Other Non-Current Assets
 12 Months Ended
Dec. 31, 2024
Investments, All Other Investments [Abstract]  
Other Non-Current Assets OTHER NON-CURRENT ASSETS
Other non-current assets are detailed below:
December 31, December 31,
20242023
Equity securities3731
Public funding receivables375210
Taxes and other government receivables2622 
French research tax credit receivable231246
Defined benefit plans2215
Prepayments and deposits to third parties213224
Derivative instruments— 2
Other non-current assets5758
Total961808
    
Public funding receivables, including French research tax credit receivable, are described in Note 7.
In 2024 and 2023, the Company entered into factoring transactions to accelerate the realization in cash of certain long-term receivables. The Company sold without recourse $87 million and $118 million of these receivables in the years ended December 31, 2024 and 2023 respectively, with a financial cost of $4 million and $5 million respectively.
Prepayments and deposits to third parties relate to long-term supply agreements involving purchase of raw materials, capacity commitments, cloud-hosting arrangements, and other services.
The major portion of other non-current assets to which the expected credit loss model applies are long-term State receivables. Due to the existing history of zero-default on receivables originated by governments, the expected credit losses are assumed to be negligible as of December 31, 2024 and December 31, 2023. Other non-current assets presented in the table above on the line “Other non-current assets” are composed of individually not significant amounts not deemed to have exposure of default. Consequently, no significant expected credit loss allowance was reported on other non-current assets at reporting date.