ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2021

Accounts Payable and Accrued Liabilities [Abstract]

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

As of December 31, 2021 and 2020, accounts payable and accrued liabilities consisted of the following:


	2021		2020

	(in thousands)

Funds held for customers	$	775,852	$	645,863
Trade accounts payable	262,014		128,721
Contract liabilities	227,783		217,938
Payment network fees	187,665		166,880
Compensation and benefits	184,580		194,090
Operating lease liabilities	103,554		103,706
Third-party commissions	88,109		74,391
Audit and legal	82,108		44,146
Miscellaneous taxes and withholdings	68,323		68,048
Interest	64,591		62,865
Income taxes payable	51,818		13,517
Unclaimed property	34,744		32,497
Interest rate swap liabilities	28,777		1,330
Third-party processing fees	27,345		24,619
Current portion of accrued buyout liability(1)	22,204		16,180
Settlement of common share repurchases	—		20,000
Other	332,789		246,593
	$	2,542,256	$	2,061,384

(1) The noncurrent portion of accrued buyout liability of $44.6 million and $30.7 million is included in other noncurrent liabilities in the consolidated balance sheets as of December 31, 2021 and 2020, respectively.

At December 31, 2021 and 2020, accounts payable and accrued liabilities in the consolidated balance sheet included obligations totaling $14.5 million and $48.4 million, respectively, for employee termination benefits resulting from Merger-related integration activities. During the years ended December 31, 2021, 2020 and 2019, we recognized charges for employee termination benefits of $43.4 million, $83.3 million and $57.1 million, respectively, which included $1.2 million, $6.7 million and $17.3 million, respectively, of share-based compensation expense. As of December 31, 2021, the cumulative amount of recognized charges for employee termination benefits resulting from Merger-related integration activities was $183.8 million, which included $25.2 million of share-based compensation expense. These charges are recorded within selling, general and administrative expenses in our consolidated statements of income and included within Corporate expenses for segment reporting purposes. Employee termination benefits from Merger-related integration activities are substantially complete as of December 31, 2021 and any remaining obligations are expected to be paid within the next 12 months.