ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2022

Accounts Payable and Accrued Liabilities [Abstract]

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

As of December 31, 2022 and 2021, accounts payable and accrued liabilities consisted of the following:


	2022		2021

	(in thousands)

Funds held for customers	$	768,227	$	775,852
Trade accounts payable	229,436		262,014
Contract liabilities	226,254		227,783
Payment network fees	210,347		187,665
Compensation and benefits	209,630		184,580
Interest	128,308		64,591
Third-party commissions	95,192		88,109
Operating lease liabilities	80,208		103,554
Income taxes payable	61,949		51,818
Miscellaneous taxes and withholdings	42,198		68,323
Unclaimed property	31,734		34,744
Audit and legal	28,548		82,108
Third-party processing fees	25,509		27,345
Current portion of accrued buyout liability(1)	16,116		22,204
Interest rate swap liabilities	—		28,777
Other	288,904		332,789
	$	2,442,560	$	2,542,256

(1) The noncurrent portion of accrued buyout liability of $45.4 million and $44.6 million is included in other noncurrent liabilities in the consolidated balance sheets as of December 31, 2022 and 2021, respectively.

At December 31, 2021, accounts payable and accrued liabilities in the consolidated balance sheet included obligations totaling $14.5 million for employee termination benefits resulting from integration activities related to the TSYS Merger. During the years ended December 31, 2021 and 2020, we recognized charges for employee termination benefits of $43.4 million and $83.3 million, respectively, which included $1.2 million and $6.7 million, respectively, 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 TSYS Merger-related integration activities were substantially complete as of December 31, 2021. There were no significant charges recognized during the year ended December 31, 2022 and no significant remaining obligations to be paid as of December 31, 2022.