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Contract Balances
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Contract Balances Contract Balances
Contract balances at December 31 are set forth in the following table:

Balance sheet account20242023Change
Unbilled receivables $127.3 $106.4 $20.9 
Deferred revenue – current(1,737.4)(1,583.8)(153.6)
Deferred revenue – non-current (154.7)(130.7)(24.0)
Net contract assets/(liabilities)$(1,764.8)$(1,608.1)$(156.7)

The change in our net contract assets/(liabilities) from December 31, 2023 to December 31, 2024 was primarily due to the timing of payments and invoicing related to SaaS and post-contract support (PCS) renewals as well as net contract liabilities assumed of approximately $69 associated with the acquisitions completed during 2024, most notably Transact.

Revenue recognized during the years ended December 31, 2024 and 2023 that was included in the deferred revenue balance on December 31, 2023 and 2022 was $1,546.5 and $1,322.0, respectively. In order to determine revenues recognized in the period from contract liabilities, we allocate revenue to the individual deferred revenue 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 each of the years ended December 31, 2024, 2023, and 2022, respectively.