Other Balance Sheet Items

3 Months Ended

Mar. 31, 2024

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,
	2024		2023
	(In millions)
Prepaid expenses	$	25.3	$	23.3
Prepaid registry fees	24.1		23.8
Accounts receivable, net	6.5		6.3
Foreign currency forward contracts	5.3		—
Taxes receivable	1.4		7.3
Other	1.0		1.2
Total other current assets	$	63.6	$	61.9

Other Long-Term Assets

Other long-term assets consist of the following: 

	March 31,		December 31,
	2024		2023
	(In millions)
Long-term prepaid registry fees	$	8.3	$	8.3
Operating lease right-of-use asset	7.4		7.4
Long-term prepaid expenses	7.2		4.8
Restricted cash	5.4		5.4
Other	3.3		3.1
Total other long-term assets	$	31.6	$	29.0

The prepaid registry fees in the tables above relate to the fees the Company pays to ICANN for each annual term of .com domain name registrations and renewals which are deferred and amortized over the domain name registration term.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following: 

	March 31,		December 31,
	2024		2023
	(In millions)
Accounts payable and accrued expenses	$	9.4	$	12.5
Taxes payable	83.7		49.5
Customer deposits	66.9		77.2
Accrued employee compensation	38.2		61.2
Interest payable	24.6		19.5
Accrued registry fees	13.7		12.3
Customer incentives payable	6.2		6.5
Current operating lease liabilities	5.0		5.1
Foreign currency forward contracts	—		10.7
Other accrued liabilities	2.2		2.9
Total accounts payable and accrued liabilities	$	249.9	$	257.4

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, 2023 was paid during the three months ended March 31, 2024. Interest payable varies at each period-end based on the payment due dates for each senior note issuance. The liability related to the unrealized loss on foreign currency forward contracts as of December 31, 2023 was remeasured and paid upon settlement of the forward contract during the three months ended March 31, 2024.