8. Supplemental Financial Statement Information

Investments

As of November 30, 2019, Griffin held $1,011 of repurchase agreements accounted for as held-to-maturity securities under ASC 320 and classified as short-term investments on its consolidated balance sheet. The repurchase agreements were with Webster Bank and were collateralized by securities issued by the U.S. government or its sponsored agencies. The repurchase agreements were carried at their resell amounts, which approximates fair value due to their short-term nature. As of February 29, 2020, Griffin did not hold any repurchase agreements accounted for as held-to-maturity securities under ASC 320.

Other Assets

Griffin's other assets are comprised of the following:


	Feb. 29, 2020		Nov. 30, 2019
Deferred rent receivable	$	5,897	$	5,740
Deferred leasing costs, net		4,511		4,468
Intangible assets, net		2,645		1,907
Prepaid expenses		2,377		2,926
Accounts receivable (primarily leases)		1,356		904
Right-of-use assets		799		—
Mortgage escrows		606		515
Registration statement costs		281		281
Deposits		272		234
Deferred financing costs related to revolving lines of credit		220		256
Furniture, fixtures and equipment, net		203		193
Other		383		154
Total other assets	$	19,550	$	17,578

Accounts Payable and Accrued Liabilities

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


	Feb. 29, 2020		Nov. 30, 2019
Trade payables	$	1,498	$	295
Accrued construction costs and retainage		1,178		1,849
Accrued interest payable		580		568
Accrued lease commissions		394		223
Accrued salaries, wages and other compensation		212		863
Other		892		520
Total accounts payable and accrued liabilities	$	4,754	$	4,318

Other Liabilities

Griffin's other liabilities are comprised of the following:


	Feb. 29, 2020		Nov. 30, 2019
Interest rate swap liabilities	$	7,328	$	4,052
Deferred compensation plan		3,540		5,593
Prepaid rent from tenants		1,331		1,013
Lease liabilities		829		—
Security deposits of tenants		695		538
Conditional asset retirement obligations		171		171
Land sale deposits		50		—
Other		113		142
Total other liabilities	$	14,057	$	11,509

Supplemental Cash Flow Information

Accounts payable and accrued liabilities related to additions to real estate assets decreased by $671 in the 2020 first quarter and increased by $998 in the 2019 first quarter.

Griffin maintains a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for certain of its highly compensated employees. In the 2020 first quarter, the liability for the Deferred Compensation Plan was reduced by approximately $1,900 for a payment made to Frederick M. Danziger, Griffin’s former Executive Chairman, as a result of his retirement in fiscal 2019.

Interest payments were as follows:


For the Three Months Ended
Feb. 29, 2020		Feb. 28, 2019
$	1,677	$	1,619

Income Taxes

Griffin’s income tax benefit rate was 23.0% for the 2020 first quarter, as compared to an income tax benefit rate of 23.5% for the 2019 first quarter. The effective tax benefit rate for the 2020 first quarter reflected the federal statutory income tax rate adjusted for the effects of permanent differences and state income taxes. The effective tax rate in the 2020 first quarter 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.

Griffin’s federal income tax returns for fiscal 2016, fiscal 2017 and fiscal 2018 are open to examination by the Internal Revenue Service.