ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND GUARANTEES

Accounts payable and accrued liabilities at August 30, 2014 and November 30, 2013 were as follows:



	August 30, 2014		November 30, 2013
Accounts payable	$	113,905	$	79,164
Accrued salaries, wages and commissions	22,095		14,908
Pension and postretirement healthcare benefits liabilities	216		278
Compensated absences	9,655		8,600
Accrued insurance liabilities	11,182		7,599
Customer deposits	24,544		16,081
Other accrued liabilities	43,301		30,908
Accounts payable and accrued liabilities	$	224,898	$	157,538

The Company has letters of credit totaling $31,230 and $28,541 as of August 30, 2014 and November 30, 2013, 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

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 30, 2014			August 31, 2013
Warranty accrual at beginning of period	$	1,599		$	1,533
Warranty accrual added through business acquisitions	10,946			—
Accruals for warranties issued during the period	1,691			222
Adjustments related to pre-existing warranties	(96		)	(257		)
Settlements made during the period	(4,945		)	(334		)
Other adjustments, including currency translation	(136		)	(2		)
Warranty accrual at end of period	$	9,059		$	1,162

Warranty accruals added through business acquisitions in the first nine months of 2014 relate primarily to the CLARCOR Industrial Air business, whose sales agreements, particularly for air intake filtration systems for heavy-duty gas turbine applications, include product warranties customary for such types of products. Warranty accruals for this business are established for specifically identified warranty issues known to exist on products already sold, and on a non-specific basis based primarily on past experience.

Restructuring and other charges

In the first quarter of 2014 the Company recorded a restructuring charge of $1,315, $1,186 of which was included in Cost of sales and $129 of which was included in Selling and administrative expenses in the Consolidated Condensed Statement of Earnings, related to the planned closure of one of its HVAC air filtration manufacturing facilities -- which is included in its Industrial/Environmental Filtration segment -- and the involuntary separation of certain employees at its air filtration headquarters, to better align manufacturing capacity and workforce levels with the business's growth strategy and to support our continual focus on cost reductions and productivity improvements. The charge consisted of approximately $863 related to the impairment of long-lived assets and leasehold improvements and approximately $452 related to severance and employee termination costs, all of which have been paid as of August 30, 2014.