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


	March 31,			December 31,
	2023			2022
Billed and unbilled receivables	$	648		$	687
Allowance for expected credit losses		(10	)		(9	)
Balance at end of period	$	638		$	678

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


	March 31,		December 31,
	2023		2022
Deferred project costs	$	44	$	43
Prepaid expenses		62		68
Commissions receivable		100		149
Other		106		119
Total	$	312	$	379

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


	March 31,		December 31,
	2023		2022
Deferred project costs	$	347	$	342
Operating lease right of use asset		81		86
Commissions receivable		26		28
Other		61		86
Total	$	515	$	542

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 three months ended March 31, 2023 and 2022, total amortization expense of $15 million and $12 million, respectively, 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, 2023 and December 31, 2022 were $72 million and $72 million, respectively. The balances in Other assets as of March 31, 2023 and December 31, 2022 were $37 million and $62 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,
	2023		2022
Deferred revenue	$	140	$	141
Operating lease liabilities		34		34
Finance lease liabilities		25		25
Other		136		100
Total	$	335	$	300

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


	March 31,		December 31,
	2023		2022
Deferred revenue	$	96	$	93
Operating lease liabilities		95		103
Finance lease liabilities		16		18
Unrecognized tax positions		12		13
Other		51		54
Total	$	270	$	281

The current and non-current portions of deferred revenue relates to consideration received in advance of performance under client contracts. During the three months ended March 31, 2023 and 2022, revenue of approximately, $113 million and $79 million was recognized and recorded as deferred revenue at the beginning of each period.

Other current liabilities as of March 31, 2023 and December 31, 2022, included the current portion of tax receivable agreement liability of $49 million and $7 million, respectively (see Note 15 "Tax Receivable Agreement" for additional information).

Other current liabilities and Other liabilities include the fair value of outstanding derivative instruments related to interest rate swaps. There were no interest rate swaps recorded in Other current liabilities as of March 31, 2023 and December 31, 2022, respectively. The balance in Other liabilities was $5 million as of March 31, 2023. There were no interest rate swaps recorded in Other liabilities as of December 31, 2022 (see Note 13 “Derivative Financial Instruments” for additional information).