The components of Receivables, net are as follows (in millions):


	March 31,			December 31,
	2022			2021
Billed and unbilled receivables	$	553		$	520
Allowance for expected credit losses		(7	)		(5	)
Balance at end of period	$	546		$	515

The components of Other current assets are as follows (in millions):


	March 31,		December 31,
	2022		2021
Deferred project costs	$	40	$	39
Prepaid expenses		60		66
Commissions receivable		95		148
Other		59		49
Total	$	254	$	302

The components of Other assets are as follows (in millions):


	March 31,		December 31,
	2022		2021
Deferred project costs	$	295	$	274
Operating lease right of use asset		106		120
Commissions receivable		28		34
Other		81		44
Total	$	510	$	472

The current and non-current portions of deferred project costs relate to costs to obtain and fulfill contracts (see Note 3 “Revenue from Contracts with Customers”). During the Successor three months ended March 31, 2022 and the Predecessor three months ended March 31, 2021, total amortization expense of $12 million and $16 million was recorded in Cost of services, exclusive of depreciation and amortization in the Condensed Consolidated Statements of Comprehensive Income (Loss), respectively.

Other current assets and Other assets include the fair value of outstanding derivative instruments related to interest rate swaps. The balances in Other current assets as of March 31, 2022 and December 31, 2021 were $18 million and $1 million, respectively. The balances in Other assets as of March 31, 2022 and December 31, 2021 were $58 million and $16 million, respectively (see Note 13 “Derivative Financial Instruments” for additional information).

The components of Other current liabilities are as follows (in millions):


	March 31,		December 31,
	2022		2021
Deferred revenue	$	154	$	148
Operating lease liabilities		45		44
Finance lease liabilities		26		27
Other		169		182
Total	$	394	$	401

The components of Other liabilities are as follows (in millions):


	March 31,		December 31,
	2022		2021
Deferred revenue	$	54	$	55
Operating lease liabilities		113		139
Finance lease liabilities		29		34
Unrecognized tax positions		44		44
Other		71		81
Total	$	311	$	353

The current and non-current portions of deferred revenue relates to consideration received in advance of performance under client contracts. During both the Successor three months ended March 31, 2022 and the Predecessor three months ended March 31, 2021, revenue of approximately $79 million was recognized that was recorded as deferred revenue at the beginning of each period.

Other current liabilities as of both March 31, 2022 and December 31, 2021 include a deferred consideration payment of $83 million related to an acquisition completed in the fourth quarter of 2021.

Other current liabilities and Other liabilities include the fair value of outstanding derivative instruments related to interest rate swaps. The balances in Other current liabilities as of March 31, 2022 and December 31, 2021 were $3 million and $8 million, respectively. The balances in Other liabilities at both March 31, 2022 and December 31, 2021 were $1 million (see Note 13 “Derivative Financial Instruments” for additional information).