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Other Liabilities
 12 Months Ended
Dec. 31, 2023
Other Liabilities Disclosure [Abstract]  
Other Liabilities OTHER LIABILITIES
Other Accrued Liabilities
A summary of other accrued liabilities as of December 31 follows:
20232022
Accrued payroll and benefits$350.5 $342.6 
Insurance reserves, current portion216.6 187.5 
Accrued fees and taxes182.9 168.5 
Accrued dividends168.3 156.4 
Operating right-of-use lease liabilities, current portion54.8 57.9 
Ceded insurance reserves, current portion35.4 32.0 
Accrued professional fees and legal settlement reserves17.9 8.6 
Derivative and hedging liabilities8.3 1.2 
Other136.8 103.6 
Total$1,171.5 $1,058.3 
 Other Long-Term Liabilities
A summary of other long-term liabilities as of December 31 follows:
20232022
Operating right-of-use lease liabilities$194.9 $238.0 
Deferred compensation plan liability114.7 98.6 
Ceded insurance reserves92.1 84.1 
Derivative and hedging liabilities71.3 99.7 
Contingent purchase price and acquisition holdbacks59.1 60.5 
Withdrawal liability - multiemployer pension funds19.6 20.0 
Other42.9 59.8 
Total$594.6 $660.7 
Insurance Reserves
Our liabilities for unpaid and incurred but not reported claims as of December 31, 2023 and 2022 (which include claims for workers’ compensation, commercial general and auto liability and employee-related health care benefits) were $565.4 million and $502.6 million, respectively, under our risk management program and are included in other accrued liabilities and insurance reserves, net of current portion, in our consolidated balance sheets. While the ultimate amount of claims incurred depends on future developments, we believe the recorded reserves are adequate to cover the future payment of claims; however, it is possible that these recorded reserves may not be adequate to cover the future payment of claims. Adjustments, if any, to estimates recorded resulting from ultimate claim payments will be reflected in our consolidated statements of income in the periods in which such adjustments are known.
The following table summarizes the activity in our insurance reserves for the years ended December 31:
202320222021
Balance at beginning of year$502.6 $497.4 $449.3 
Additions charged to expense666.9 568.7 552.4 
Payments(636.5)(593.8)(531.8)
Accretion expense0.1 0.2 0.3 
Premium written for third party risk assumed43.4 35.3 36.5 
Reclassified to ceded insurance reserves(11.1)(5.2)(9.3)
Balance at end of year565.4 502.6 497.4 
Less: current portion(216.6)(187.5)(193.5)
Long-term portion$348.8 $315.1 $303.9