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Contract Balances
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Contract Balances Contract Balances
Contract balances at December 31 are set forth in the following table:
Balance Sheet Account20212020Change
Unbilled receivables $95.3 $72.8 $22.5 
Contract liabilities - current (1)
(1,130.2)(990.3)(139.9)
Deferred revenue - non-current (75.3)(42.7)(32.6)
Net contract assets/(liabilities)$(1,110.2)$(960.2)$(150.0)
(1) Consists primarily of “Deferred revenue.”     
The change in our net contract assets/(liabilities) from December 31, 2020 to December 31, 2021 was due primarily to the timing of payments and invoicing relating to Software-as-a-Service (“SaaS”) and post contract support (“PCS”) renewals, partially offset by the increase in unbilled receivables due to the timing of invoicing related to software milestone billings associated with multi-year term license renewals and software implementations.

Revenue recognized during the year ended December 31, 2021 and 2020 that was included in the contract liability balance on December 31, 2020 and 2019 was $951.3 and $794.3, respectively. In order to determine revenues recognized in the period from contract liabilities, we allocate revenue to the individual deferred revenue or BIE balance outstanding at the beginning of the year until the revenue exceeds that balance.

Impairment losses recognized on our accounts receivable and unbilled receivables were immaterial in the each of years ended December 31, 2021, 2020 and 2019, respectively.