Payables and Accruals

3 Months Ended

Mar. 31, 2023

Accounts Payable and Accrued Liabilities Disclosure

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of:


	March 31, 2023		December 31, 2022
Trade payables	$	179.1	$	213.0
Accrued compensation	31.6		41.9
Operating lease liabilities	14.8		12.0
Other accrued liabilities	39.1		44.2
	$	264.6	$	311.1

Included in accounts payable and accrued liabilities are $7.0 million and $15.7 million related to capital expenditures that had not yet been paid as of March 31, 2023 and December 31, 2022.

We maintain a program with a financial institution to provide our vendors with an option to receive payment earlier than our standard payment terms. Vendors receive payment directly from the financial institution. We are obligated to repay the financial institution in the next billing cycle which is generally 35 to 60 days later than payment to the supplier. As of March 31, 2023 and December 31, 2022, $13.5 million and $14.5 million of outstanding obligations under this program were included in other accrued liabilities in the Consolidated Balance Sheets.