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Accrued Expenses and Other Liabilities
9 Months Ended
Sep. 30, 2014
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities

7. ACCRUED EXPENSES AND OTHER LIABILITIES

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

 

     September 30, 2014      December 31, 2013  

Real estate development costs to complete

   $ 33,744       $ 28,491   

Compensation and employee benefits

     42,525         49,362   

Insurance, litigation reserves, and other professional fees

     5,349         6,935   

Self insurance and warranty reserves

     44,865         41,403   

Interest payable

     34,585         17,024   

Merger and restructuring reserves

     835         1,326   

Property and sales taxes payable

     22,722         22,731   

Other accruals

     49,794         47,228   
  

 

 

    

 

 

 

Total accrued expenses and other liabilities

   $ 234,419       $ 214,500   
  

 

 

    

 

 

 

Self Insurance and Warranty Reserves – We regularly review the reasonableness and adequacy of our self insurance and warranty reserves and make adjustments to the balance of the pre-existing reserves to reflect changes in trends and historical data as information becomes available. Self insurance and warranty reserves are included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. A summary of the changes in our warranty reserves is as follows (in thousands):

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2014     2013     2014     2013  

Reserve - beginning of period

   $ 45,073      $ 41,469      $ 41,403      $ 39,760   

Purchase price allocations

     —         57        —         180   

Additions to reserves

     5,385        4,576        17,157        13,963   

Costs and claims incurred

     (5,377     (2,113     (13,464     (9,522

Foreign currency adjustment

     (216     146        (231     (246
  

 

 

   

 

 

   

 

 

   

 

 

 

Reserve - end of period

   $ 44,865      $ 44,135      $ 44,865      $ 44,135