Accrued Expenses and Other Liabilities (Tables)

6 Months Ended

May 31, 2014

Schedule of Accrued Expenses and Other Liabilities

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



	May 31, 2014		November 30, 2013
Employee compensation and related benefits	$	96,781	$	99,332
Self-insurance and other litigation liabilities	96,424		99,612
Accrued interest payable	67,457		45,562
Inventory-related obligations (a)	55,186		29,517
Warranty liability	40,937		48,704
Real estate and business taxes	7,983		8,131
Other	23,581		25,318
Total	$	388,349	$	356,176

(a)

The increase in inventory-related obligations at May 31, 2014 compared to November 30, 2013, reflected a $33.2 million liability we recorded for fixed or determinable amounts associated with tax increment financing entities (“TIFE”) in connection with the distribution of land we received from Inspirada during the first quarter of 2014. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes to homebuyers on the applicable lots before the related TIFE obligations mature.