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Other Assets
 12 Months Ended
Dec. 31, 2021
Other Assets [Abstract]  
Other Assets Other Assets
Other current assets are comprised of the following components:
December 31,
(In millions)20212020
Joint venture receivables
$48 $53 
Recoverable taxes
40 52 
Contractually reimbursable engineering costs
34 31 
Prepaid assets and deposits
21 18 
Royalty agreements
4 7 
China bank notes
3 15 
 Derivative financial instruments2 — 
Other
6 4 
$158 $180 

The Company receives bank notes from certain customers in China to settle trade accounts receivable. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. The Company redeemed $149 million and $163 million of China bank notes during the years ended December 31, 2021 and 2020, respectively. Remaining amounts outstanding at third-party institutions relate to sold bank notes will mature by June 30, 2022.

Other non-current assets are comprised of the following components:

December 31,
(In millions)20212020
Deferred tax assets
$47 $55 
Contractually reimbursable engineering costs34 31 
Recoverable taxes9 21 
Pension assets7 2 
Royalty agreements2 8 
Joint venture note receivables
— 7 
Other
12 11 
$111 $135 

Current and non-current contractually reimbursable engineering costs are related to pre-production design and development costs incurred pursuant to long-term supply arrangements that are contractually guaranteed for reimbursement by customers. The Company expects to receive cash reimbursement payments of approximately $34 million in 2022, $24 million in 2023, $8 million in 2024, $2 million in 2025 and less than $1 million in 2026 and beyond.