Table:
|  | March 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Accrued compensation and benefits | $133.2 | $87.6 |
| Income taxes payable | 46.9 | 27.5 |
| Sales related reserves | 366.9 | — |
| Accrued expenses and other liabilities | 240.3 | 114.5 |
| Total accrued liabilities | $787.3 | $229.6 |
Paragraphs:
Accrued Liabilities
Accrued liabilities consists of the following (in millions):
Sales related reserves represent price concessions and stock rotation rights that the Company offers to many of its distributors. For the fiscal year ending March 31, 2018, these sales related reserves were recorded within accounts receivable, and therefore did not exist within accrued liabilities. The Company made this change in classification as part of its adoption of ASC 606. For additional information regarding the Company's adoption of ASC 606, refer to Note 1 of the consolidated financial statements.
Question:
What does sales related reserves represent?