Accounts Payable and Accrued Liabilities

12 Months Ended

Jul. 31, 2019

Accounts Payable and Accrued Liabilities

NOTE 6 — Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following:



	July 31,
(In thousands)	2019		2018
Trade accounts payable	$	45,520	$	65,057
Accounts payable to sellers	68,427		68,660
Buyer deposits and prepayments	73,421		62,443
Accrued compensation and benefits	41,400		37,218
Accrued insurance	8,507		4,376
Other accrued liabilities	33,643		33,190
Total accounts payable and accrued expenses	$	270,918	$	270,944

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.