ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND GUARANTEES (Note)

9 Months Ended

Aug. 27, 2011

Accounts Payable, Accrued Liabilities and Guarantees

ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND GUARANTEES

Accounts payable and accrued liabilities at August 27, 2011 and November 27, 2010 were as follows:



	August 27, 2011		November 27, 2010
Accounts payable	$	67,218	$	64,630
Accrued salaries, wages and commissions	19,594		31,497
Compensated absences	8,511		8,172
Accrued insurance liabilities	11,899		11,473
Customer deposits	8,951		7,732
Other accrued liabilities	37,154		36,702
Accounts payable and accrued liabilities	$	153,327	$	160,206

The Company has letters of credit totaling $25,836 and $23,189 as of August 27, 2011 and November 27, 2010, respectively, issued to various government agencies, primarily related to industrial revenue bonds, and to insurance companies and other commercial entities in support of its obligations. The Company believes that no payments will be required resulting from these obligations.

In the ordinary course of business, the Company also provides routine indemnifications and other guarantees whose terms range in duration and are often not explicitly defined. The Company does not believe these will have a material impact on the results of operations or financial condition of the Company.

Warranties are recorded as a liability on the balance sheet and as charges to current expense for estimated normal warranty costs and, if applicable, for specific performance issues known to exist on products already sold. The expenses estimated to be incurred are provided at the time of sale and adjusted as needed, based primarily upon experience.

Changes in the Company’s warranty accrual, which is included in Other accrued liabilities, are as follows:



	Nine Months Ended
	August 27, 2011			August 28, 2010
Warranty accrual at beginning of period	$	3,499		$	3,989
Accruals for warranties issued during the period	587			799
Adjustments related to pre-existing warranties	50			(125		)
Settlements made during the period	(941		)	(745		)
Other adjustments, including currency translation	(237		)	(215		)
Warranty accrual at end of period	$	2,958		$	3,703