12.

OTHER NON-CURRENT ASSETS

Other non-current assets consisted of the following:


	December 31, 2016		December 31, 2015
Available-for-sale equity securities		11		11
Trading equity securities		8		8
Long-term State receivables		388		403
Long-term receivables from third parties		1		1
Prepaid for pension		—		8
Deposits and other non-current assets		26		28


Total		434		459

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 2016, the Company entered into a factoring transaction to accelerate the realization in cash of some non-current assets. As at December 31, 2016, $127 million of the non-current assets were sold without recourse, compared to $96 million as at December 31, 2015, with a financial cost of less than $1 million for both periods.