Other Balance Sheet Items

3 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Other Balance Sheet Items

Selected Balance Sheet Items

Other Current Assets

Other current assets consist of the following: 

	March 31,		December 31,
	2022		2021
	(In millions)
Prepaid expenses	$	25.6	$	24.8
Prepaid registry fees	24.7		24.2
Accounts receivable, net	5.2		5.3
Taxes receivable	1.5		7.7
Other	1.1		0.9
Total other current assets	$	58.1	$	62.9

Other Long-Term Assets

Other long-term assets consist of the following: 

	March 31,		December 31,
	2022		2021
	(In millions)
Long-term prepaid expenses	$	8.8	$	11.0
Long-term prepaid registry fees	8.6		8.7
Operating lease right-of-use asset	7.3		8.4
Restricted cash	5.4		5.3
Other	2.2		2.3
Total other long-term assets	$	32.3	$	35.7

The current and long-term prepaid registry fees in the tables above relate to the fees the Company pays to Internet Corporation for Assigned Names and Numbers (“ICANN”) for each annual increment of .com domain name registrations and renewals which are deferred and amortized over the domain name registration term. The amount of prepaid registry fees as of March 31, 2022 reflects amortization of $9.8 million during the three months ended March 31, 2022 which was recorded in Cost of Revenues.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following: 

	March 31,		December 31,
	2022		2021
	(In millions)
Accounts payable and accrued expenses	$	7.4	$	9.0
Taxes payable	66.1		26.8
Customer deposits	48.5		77.3
Accrued employee compensation	35.3		58.5
Interest payable	24.6		19.5
Accrued registry fees	14.0		12.9
Customer incentives payable	6.7		13.3
Other accrued liabilities	8.5		9.3
Total accounts payable and accrued liabilities	$	211.1	$	226.6

Taxes payable reflects amounts accrued for the income tax provision and payments made during the period. This balance fluctuates from period to period due to the timing of income tax payments in the Company’s major tax jurisdictions. The balance of Customer deposits varies from period to period due to the timing of payments from certain large customers. Accrued employee compensation primarily consists of liabilities for employee leave, salaries, payroll taxes, employee contributions to the employee stock purchase plan, and incentive compensation. Accrued employee incentive compensation as of December 31, 2021 was paid during the three months ended March 31, 2022. Interest payable varies at each period-end based on the payment due dates for each senior note issuance. Customer incentives payable includes amounts related to rebates payable to registrars. These amounts may vary from period to period due to the timing of payments and the amount of rebates earned.