Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:



	March 31,		December 31,
	2016		2015
	(Dollars in thousands)
Warranty accrual	$	4,389	$	4,181
Accrued compensation and benefits	2,367		5,106
Accrued interest	519		453
Completion reserve	444		1,168
Income taxes payable	—		6,780
Deferred profit from unconsolidated joint ventures	1,291		1,603
Other accrued expenses	258		536
	$	9,268	$	19,827

Completion reserves relate to liabilities for completed subcontractor work on closed homes for which invoices have not been remitted as of the balance sheet date.

Changes in our warranty accrual are detailed in the table set forth below:



	Three Months Ended March 31,
	2016			2015
	(Dollars in thousands)
Beginning warranty accrual for homebuilding projects	$	3,846		$	1,277
Warranty provision for homebuilding projects	312			562
Warranty payments for homebuilding projects	(101		)	(60		)
Ending warranty accrual for homebuilding projects	4,057			1,779

Beginning warranty accrual for fee building projects	335			301
Warranty provision for fee building projects	—			—
Warranty efforts for fee building projects	(3		)	(1		)
Ending warranty accrual for fee building projects	332			300
Total ending warranty accrual	$	4,389		$	2,079