7. Deferred Costs and Other Contract Assets

Contract-related assets consist of the following (in thousands):



	March 30, 2019		December 29, 2018
Prepaid contract incentives	$	6,487	$	7,036
Deferred commissions	5,158		5,085
Unbilled contract receivables	3,432		5,567
Equipment leased to customers, net⁽¹⁾	522		108,417
Total contract-related assets	$	15,599	$	126,105

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Formerly titled “Deferred cost of goods sold”. In connection with its adoption of ASC 842 on December 30, 2018, the Company recorded a reduction to equipment leased to customers, net, of $103.5 million as a result of the reclassification of certain embedded leases within the Company’s deferred equipment agreements with its customers from operating to sales-type leases. See “Recently Adopted Accounting Pronouncements” to these condensed consolidated financial statements for additional information related to the Company’s adoption of ASC 842.

For the three months ended March 30, 2019 and March 31, 2018, $0.2 million and $7.3 million, respectively, of equipment leased to customers was amortized to cost of goods sold. As of March 30, 2019 and December 29, 2018, accumulated amortization of equipment leased to customers was $0.5 million and $103.1 million, respectively.

For the three months ended March 30, 2019 and March 31, 2018, $0.5 million and $0.4 million, respectively, of prepaid contract incentives was amortized as a reduction to revenue.

For the three months ended March 30, 2019 and March 31, 2018, $0.5 million and $0.6 million, respectively, of deferred commissions was amortized to selling, general and administrative expenses.