The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows: There are $38.8 million and $64.0 million of long-term deferred tax assets included in other assets on the Consolidated Balance Sheets at June 30, 2020 and 2019, respectively. Income taxes have not been provided on undistributed earnings of certain foreign subsidiaries in an aggregate amount of approximately $274.1 million as the Company considers such earnings to be permanently reinvested outside of the United States. As of June 30, 2020, it is not practicable to estimate the unrecognized tax liability that would occur upon distribution. The Company has estimated foreign net operating loss carry-forwards of approximately $55.3 million as of June 30, 2020, of which $0.9 million expire through June 2025 and $54.4 million have an indefinite utilization period. As of June 30, 2020, the Company has approximately $58.7 million of federal net operating loss carry-forwards from acquired companies. The net operating losses have an annual utilization limitation pursuant to section 382 of the Internal Revenue Code and expire through June 2036. The Company has state net operating loss carry-forwards of approximately $374.8 million as of June 30, 2020, which expire through June 2039. The Company has recorded valuation allowances of $12.0 million and $31.6 million at June 30, 2020 and 2019, respectively, to reflect the estimated amount of domestic and foreign deferred tax assets that may not be realized. Income tax payments were approximately $677.1 million, $6 33.8 million, and $529.7 million for fiscal 2020, 2019, and 2018, respectively. As of June 30, 2020, 2019, and 2018 the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $62.3 million, $54.2 million, and $45.2 million respectively. The amount that, if recognized, would impact the effective tax rate is $49.9 million, $43.3 million, and $36.1 million, respectively. The remainder, if recognized, would principally impact deferred taxes. Years ended June 30, 2020 2019 Deferred tax assets: Accrued expenses not currently deductible $ 203.0  $ 228.9  Stock-based compensation expense 33.8  45.3  Foreign tax credits 20.1  25.1  Net operating losses 52.0  54.0  Retirement Benefits 46.0  5.6  Other 25.9  20.2  380.8  379.1  Less: valuation allowances (12.0) (31.6) Deferred tax assets, net $ 368.8  $ 347.5  Deferred tax liabilities: Deferred revenue $ 475.0  $ 475.9  Fixed and intangible assets 288.2  279.5  Prepaid expenses 82.3  86.2  Unrealized investment gains, net 187.9  63.0  Tax on unrepatriated earnings 22.2  31.6  Other 6.4  7.2  Deferred tax liabilities 1,062.0  943.4  Net deferred tax liabilities $ 693.2  $ 595.9 