Accounts Payable and Accrued Liabilities

12 Months Ended

Jul. 31, 2011

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

(9) Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following (in thousands):

	July 31,
	2011		2010
Trade accounts payable	$	12,365	$	14,923
Accounts payable to sellers		42,190		40,370
Accrued insurance		5,494		4,831
Accrued compensation and benefits		15,605		14,298
Buyer prepayments		14,229		9,105
Other accrued liabilities		11,825		10,213
	$	101,708	$	93,740

 

The Company is partially self-insured for certain losses related to general liability, workers’ compensation and auto liability. Accrued insurance liability represents an estimate of the ultimate cost of claims incurred as of the balance sheet date. The estimated liability is not discounted and is established based upon analysis of historical data, including the severity of our frequency of claims, actuarial estimates and is reviewed periodically by management to ensure that the liability is appropriate.