Accounts Payable and Accrued Liabilities

12 Months Ended

Jul. 31, 2017

Accounts Payable and Accrued Liabilities

7 — Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following:



	July 31,
(In thousands)	2017		2016
Trade accounts payable	$	20,626	$	30,087
Accounts payable to sellers	50,534		46,866
Buyer deposits and prepayments	50,603		40,500
Accrued compensation and benefits	31,173		33,382
Accrued insurance	5,263		5,753
Other accrued liabilities	50,216		35,791
Total accounts payable and accrued expenses	$	208,415	$	192,379

The Company is partially self-insured for certain losses related to general liability, workers’ compensation and auto liability. Accrued insurance liability represents an estimate of the ultimate cost of claims incurred as of the balance sheet date, including an estimate for reported and unreported claims. The estimated liability is not discounted and is established based upon analysis of historical data, including the severity of the Company’s frequency of claims, actuarial estimates and is reviewed periodically by management to ensure that the liability is appropriate.