8. Supplemental Financial Statement Information

Other Assets

Griffin's other assets are comprised of the following:


	Aug. 31, 2016		Nov. 30, 2015

Deferred rent receivable	$	4,485	$	4,087
Deferred leasing costs		4,213		4,376
Prepaid expenses		3,566		2,157
Mortgage escrows		1,603		2,229
Deferred financing costs		1,476		1,264
Lease receivables from tenants		978		401
Deposits on real estate acquisitions		450		—
Property and equipment, net		283		221
Intangible assets, net		253		305
Other		621		309
Total other assets	$	17,928	$	15,349

Accounts Payable and Accrued Liabilities

Griffin's accounts payable and accrued liabilities are comprised of the following:


	Aug. 31, 2016		Nov. 30, 2015

Accrued construction costs and retainage	$	1,571	$	1,278
Trade payables		528		422
Accrued salaries, wages and other compensation		513		615
Accrued interest payable		394		361
Other		981		672
Total accounts payable and accrued liabilities	$	3,987	$	3,348

Other Liabilities

Griffin's other liabilities are comprised of the following:


	Aug. 31, 2016		Nov. 30, 2015

Interest rate swap agreements	$	4,639	$	2,766
Deferred compensation plan		4,223		3,981
Prepaid rent from tenants		979		944
Security deposits		384		286
Conditional asset retirement obligations		288		288
Other		69		107
Total other liabilities	$	10,582	$	8,372

Supplemental Cash Flow Information

A decrease of $912 in the 2016 nine month period and an increase of $638 in the 2015 nine month period in Griffin’s Investment in Centaur Media reflect the mark to market adjustments of this investment and did not affect Griffin’s cash.

Accounts payable and accrued liabilities related to additions to real estate assets increased by $293 and $1,256 in the 2016 nine month period and 2015 nine month period, respectively.

Interest payments were as follows:


For the Three Months Ended					For the Nine Months Ended
Aug. 31, 2016		Aug. 31, 2015		Aug. 31, 2016		Aug. 31, 2015

$	1,098	$	1,070	$	3,334	$	3,119

Income Taxes

Griffin’s effective income tax benefit rate was 21.2% for the 2016 nine month period as compared to an income tax provision rate of 28.9% for the 2015 nine month period. The income tax benefit for the 2016 nine month period includes a charge of approximately $163 for the effect of a change in Connecticut tax law, effective for Griffin in fiscal 2016, whereby, prospectively, the usage of state net operating loss carryforwards will be limited to 50% of taxable income. Therefore, in the 2016 first quarter, Griffin decreased its expected realization of the tax benefit related to its Connecticut state net operating loss carryforwards. The effect of the charge reduced Griffin’s effective tax benefit rate by approximately 16.8%. The decrease of the realization rate is based on management's current projections of taxable income in Connecticut in future years that would generate income taxes in excess of capital based taxes. The effective tax rate in the 2016 nine month period is based on management’s projections of pretax results 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 August 31, 2016, Griffin’s consolidated balance sheet includes a net deferred tax asset of $7,005. Although Griffin has incurred a cumulative pretax loss (excluding nonrecurring items) for the three fiscal years ended November 30, 2015, management has concluded that a valuation allowance against its net deferred tax assets is not required.