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


	June 30,			December 31,
	2022			2021
Billed and unbilled receivables	$	559		$	520
Allowance for expected credit losses		(8	)		(5	)
Balance at end of period	$	551		$	515

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


	June 30,		December 31,
	2022		2021
Deferred project costs	$	44	$	39
Prepaid expenses		48		66
Commissions receivable		75		148
Other		93		49
Total	$	260	$	302

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


	June 30,		December 31,
	2022		2021
Deferred project costs	$	318	$	274
Operating lease right of use asset		100		120
Commissions receivable		26		34
Other		81		44
Total	$	525	$	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 and six months ended June 30, 2022 and the Predecessor three and six months ended June 30, 2021, total amortization expense of $13 million, $25 million, $17 million and $33 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 June 30, 2022 and December 31, 2021 were $39 million and $1 million, respectively. The balances in Other assets as of June 30, 2022 and December 31, 2021 were $57 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):


	June 30,		December 31,
	2022		2021
Deferred revenue	$	116	$	148
Operating lease liabilities		41		44
Finance lease liabilities		27		27
Other		87		182
Total	$	271	$	401

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


	June 30,		December 31,
	2022		2021
Deferred revenue	$	98	$	55
Operating lease liabilities		111		139
Finance lease liabilities		24		34
Unrecognized tax positions		43		44
Other		58		81
Total	$	334	$	353

The current and non-current portions of deferred revenue relates to consideration received in advance of performance under client contracts. During the Successor six months ended June 30, 2022 and the Predecessor six months ended June 30, 2021, revenue of approximately $94 million and $101 million was recognized and recorded as deferred revenue at the beginning of each period.

Other current liabilities as of December 31, 2021 included an accrual for a deferred consideration payment of $83 million related to an acquisition completed in the fourth quarter of 2021. A payment of $81 million was made during the second quarter of 2022 and the remaining consideration will be paid during the fourth quarter of 2022.