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Notes to Consolidated Financial Statements

Note 9: OTHER LONG-TERM LIABILITIES

Other long-term liabilities were as follows at November 30:

(In thousands)
2008
2007

Accrued pension cost $ 39,261
$ 23,345
Taxes payable 7,393
Compensation and benefits 3,206
3,336
Other 190
1,733
 
 
$ 50,050
$ 44,154

During 2008, the Company adopted FIN 48 which resulted in a reclassification of $7,393,000 of tax reserves related to uncertain tax positions for which a cash payment is not expected within the next 12 months to noncurrent liabilities.

 

Note Ten

 
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