Accrued Expenses and Other Liabilities (Tables)

9 Months Ended

Aug. 31, 2014

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):



	August 31, 2014		November 30, 2013
Employee compensation and related benefits	$	100,033	$	99,332
Self-insurance and other litigation liabilities	91,326		99,612
Accrued interest payable	71,539		45,562
Inventory-related obligations (a)	53,708		29,517
Warranty liability	42,396		48,704
Real estate and business taxes	10,639		8,131
Other	22,598		25,318
Total	$	392,239	$	356,176

(a)

The inventory-related obligations at August 31, 2014 included a $33.2 million liability we recorded for fixed or determinable amounts associated with tax increment financing entities (“TIFE”) in connection with the distribution of land we received from Inspirada during the first quarter of 2014. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes to homebuyers on the applicable lots before the related TIFE obligations mature.