Table:
|  | December 31, 2019 | December 31, 2018 |
| --- | --- | --- |
| Equity securities | 23 | 19 |
| Long-term state receivables | 358 | 391 |
| Deposits and other non-current assets | 56 | 42 |
| Total | 437 | 452 |
Paragraphs:
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 longterm 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 2019 and 2018, the Company entered into a factoring transaction to accelerate the realization in cash of some non-current assets. As at December 31, 2019, $131 million of the non-current assets were sold without recourse, compared to $122 million as at December 31, 2018, with a financial cost of less than $1 million for both periods.
Other non-current assets consisted of the following:
Question:
What does Long-term state receivables include?
Answer: Long-term state receivables include receivables related to funding and receivables related to tax refund.