9.Supplemental Financial Statement Information

Other Assets

Griffin’s other assets are comprised of the following:

	Feb. 28, 2015		Nov. 30, 2014

Deferred leasing costs	$	4,171	$	3,945
Deferred rent receivable	3,535		3,454
Prepaid expenses	1,544		2,133
Lease receivables	1,225		1,343
Mortgage escrows	1,203		1,073
Deferred financing costs	805		727
Intangible assets	461		506
Other	755		1,035
	$	13,699	$	14,216

Property and Equipment

Property and equipment consist of:

	Estimated Useful Lives	Feb. 28, 2015		Nov. 30, 2014
Machinery and equipment	3 to 20 years	$	1,223	$	1,218
Accumulated depreciation		(1,012)		(988)
		$	211	$	230

Supplemental Cash Flow Information

Increases of $24 and $829 in the 2015 and 2014 first quarters, respectively, in Griffin’s Investment in Centaur Media reflect the mark to market adjustments of this investment and did not affect Griffin’s cash. In the 2014 first quarter, Griffin sold 500,000 shares of its Centaur Media common stock (see Note 4).

Included in accounts payable and accrued liabilities at February 28, 2015 and November 30, 2014 were $2,028 and $1,910, respectively, for additions to real estate assets. Accounts payable and accrued liabilities related to additions to real estate assets increased by $118 and $1,479 in the 2015 first quarter and 2014 first quarter, respectively.

Interest payments were as follows:

For the Three Months Ended,
Feb. 28, 2015		Feb. 28, 2014

$	996	$	975

Income Taxes

Griffin’s effective income tax rate on continuing operations was 36.0% for the 2015 first quarter as compared to 38.3% for the 2014 first quarter. The effective tax rate in the 2015 first quarter is based on management’s projections for the balance of the year. To the extent that actual results differ from current projections, the effective income tax rate may change.

As of February 28, 2015, Griffin’s consolidated balance sheet includes a net deferred tax asset of $6,473. Although Griffin has incurred a cumulative pretax loss from continuing operations (excluding nonrecurring items) for the three fiscal years ended November 30, 2014, management has concluded that a valuation allowance against its net deferred tax assets is not required.