ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND GUARANTEES (Note)

3 Months Ended

Mar. 03, 2012

Accounts Payable, Accrued Liabilities and Guarantees

ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND GUARANTEES

Accounts payable and accrued liabilities at March 3, 2012 and December 3, 2011 were as follows:



	March 3, 2012		December 3, 2011
Accounts payable	$	62,503	$	64,701
Accrued salaries, wages and commissions	8,030		24,760
Compensated absences	8,024		8,530
Accrued insurance liabilities	8,955		9,017
Customer deposits	11,071		8,727
Other accrued liabilities	34,759		39,850
Accounts payable and accrued liabilities	$	133,342	$	155,585

The Company has letters of credit totaling $25,068 and $25,623 as of March 3, 2012 and December 3, 2011, 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:



	Three Months Ended
	March 3, 2012			February 26, 2011
Warranty accrual at beginning of period	$	2,580		$	3,499
Accruals for warranties issued during the period	109			264
Adjustments related to pre-existing warranties	(47		)	(553		)
Settlements made during the period	(120		)	(170		)
Other adjustments, including currency translation	(6		)	39
Warranty accrual at end of period	$	2,516		$	3,079