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


	March 31,			December 31,
	2024			2023
Billed and unbilled receivables	$	399		$	442
Allowance for expected credit losses		(6	)		(7	)
Balance at end of period	$	393		$	435

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


	March 31,		December 31,
	2024		2023
Deferred project costs	$	22	$	20
Prepaid expenses		43		48
Commissions receivable		66		107
Other		86		85
Total	$	217	$	260

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


	March 31,		December 31,
	2024		2023
Deferred project costs	$	242	$	240
Operating lease right of use asset		56		55
Commissions receivable		20		22
Other		28		24
Total	$	346	$	341

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”). Total amortization expense related to deferred project costs for each of the three months ended March 31, 2024 and 2023 were $6 million, and are recorded in Cost of services, exclusive of depreciation and amortization in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss).

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, 2024 and December 31, 2023 were $56 million and $60 million, respectively. The balances in Other assets as of March 31, 2024 and December 31, 2023 were $21 million and $17 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,
	2024		2023
Deferred revenue	$	87	$	97
Operating lease liabilities		28		27
Finance lease liabilities		22		10
Other		145		99
Total	$	282	$	233

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


	March 31,		December 31,
	2024		2023
Deferred revenue	$	45	$	45
Operating lease liabilities		62		65
Finance lease liabilities		40		6
Other		19		26
Total	$	166	$	142

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, 2024 and 2023, revenue of approximately $77 million and $64 million was recognized that was recorded as deferred revenue at the beginning of each period, respectively.

Other current liabilities as of March 31, 2024 and December 31, 2023, included the current portion of tax receivable agreement liability of $89 million and $62 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 both March 31, 2024 and December 31, 2023 (see Note 13 “Derivative Financial Instruments” for additional information).