Accrued Liabilities and Deferred Credits

Accrued liabilities and deferred credits consist of the following:



	September 30, 2015		December 31, 2014
Accrued compensation	$	4,983	$	2,673
Deferred revenue	15,484		15,309
Membership deposits	7,731		8,426
Accruals for fees and expenses for the SEC investigation	5,781		—
Other accrued liabilities	9,447		5,651
Accrued interest expense for Senior Notes held by special purpose entity (Note 5)	713		2,852
Total accrued liabilities and deferred credits	$	44,139	$	34,911

Deferred revenue at September 30, 2015 and December 31, 2014 includes $12.5 million related to a 2006 agreement pursuant to which the Company agreed to sell approximately 3,900 acres of rural land to the Florida Department of Transportation (the “FDOT”). Revenue is recognized when title to a specific parcel is legally transferred.

As of September 30, 2015, the Company had $5.8 million in accruals for fees and expenses related to the SEC investigation. The amount of $5.8 million includes (i) an accrual of $3.5 million for penalties, disgorgements and interest relating to the SEC investigation and (ii) legal fees related to the SEC investigation. During the nine months ended September 30, 2015, the Company received correspondence from an insurance carrier related to non-coverage of certain expenses incurred in the SEC investigation and, as a result of this correspondence, the Company recorded $0.5 million and $4.4 million, respectively, in legal costs during the three and nine months ended September 30, 2015 of which $2.3 million had not been paid and was accrued at September 30, 2015. On October 27, 2015, the Company fully resolved the SEC investigation and entered into a settlement pursuant to which the Company agreed to pay penalties, disgorgements and interest of approximately $3.5 million, including a civil penalty assessed on the Company of $2.75 million and other disgorgements and interest subject to indemnification by the Company. See Note 18, Commitments and Contingencies.