Accounts Payable and Other Liabilities

3 Months Ended

Mar. 31, 2014

Accounts Payable and Other Liabilities

Accounts Payable and Other Liabilities

6. Accounts Payable and Other Liabilities

Accounts payable and other liabilities are summarized in the table below.

	March 31,		December 31,
	2014		2013
	(in thousands)
Accounts payable	$	17,085	$	22,113
Deferred revenue and income	8,822		8,310
Community development district obligations (Note 7)	6,871		7,271
Accrued interest	1,863		5,588
Accrued compensation and employee benefits	1,645		4,368
Warranty reserves	1,719		1,558
Other	7,067		5,712
Total accounts payable and other liabilities	$	45,072	$	54,920

The table below presents certain recent activity related to warranty reserves.

	Three Months Ended March 31,
	2014			2013
	(in thousands)
Warranty reserves at the beginning of the period	$	1,558		$	1,077
Additions to reserves for new home deliveries	244			157
Payments for warranty costs	(83		)	(91		)
Adjustments to prior year warranty reserves	—			(52		)
Warranty reserves at the end of the period	$	1,719		$	1,091

During the three months ended March 31, 2014 and 2013, net warranty expense of $0.2 million and $0.1 million, respectively, was included in homebuilding cost of sales in the accompanying unaudited consolidated statements of operations.