Other Assets and Liabilities

9 Months Ended

Sep. 30, 2023

Other Assets and Other Liabilities [Abstract]

Other Assets and Liabilities

Other Assets and Liabilities

Other Non-Current Assets:

	September 30, 2023		December 31, 2022
Right of use assets	$	44.3	$	53.1
Prepaid pension assets	4.0		4.0
Investments	19.3		21.8
Deferred income tax	15.4		16.0
Other	58.6		49.3
Total	$	141.6	$	144.2

Other Accrued and Current Liabilities:

	September 30, 2023		December 31, 2022
Accrued operating costs (1)	$	89.8	$	122.1
Accrued interest expense	10.2		4.3
Short-term lease liability	15.0		17.7
Accrued income tax	18.2		13.2
Accrued liability related to the purchase of non-controlling interest (2)	—		93.7
Other accrued liabilities	46.0		65.8
Total	$	179.2	$	316.8

(1)The decrease was primarily due to timing of vendor billing and payment.

(2)The liability was fully paid off during the nine months ended September 30, 2023. We recognized a foreign exchange loss of $2.6 million associated with this payment for the nine months ended September 30, 2023.

Other Non-Current Liabilities:

	September 30, 2023		December 31, 2022
Deferred revenue - long term	$	19.4	$	13.9
U.S. tax liability associated with the 2017 Act	29.4		39.3
Long-term lease liability	35.1		43.9
Liabilities for unrecognized tax benefits	20.3		20.0
Other	10.9		9.7
Total	$	115.1	$	126.8

We typically have various contractual obligations in our normal course of business, including those recorded as liabilities in our consolidated balance sheet, and certain purchase commitments that are not recognized, but are disclosed in the notes to our consolidated financial statements, such as future obligations related to our debt, operating leases, pension plans and vendor commitments. See Notes 6, 8, 11 and 20 to the consolidated financial statements for the year ended December 31, 2022 included in the 2022 Annual Report on Form 10-K for summary of our future obligations. As of December 31, 2022, a significant portion of these contractual obligations are related to payments for enterprise-wide information-technology service. In addition, during the third quarter of 2023, we entered into technology service contracts with an aggregate commitment of approximately $233 million over the next five years. These contracts are largely to replace certain existing technology service contracts expiring on December 31, 2023. Our future obligation is expected to be approximately $30 million in the fourth quarter of 2023, $62 million, $50 million, $42 million, $36 million and $13 million in 2024, 2025, 2026, 2027 and thereafter, respectively.