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OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2013
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES

11.    OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES

Other Assets consists of the following:

 

    December 31,  
    2013     2012  

Furniture, Equipment and Leasehold Improvements

   $ 325,700      $ 300,105   

Less: Accumulated Depreciation

     (188,612 )      (157,715 ) 
 

 

 

    

 

 

  

Furniture, Equipment and Leasehold Improvements, Net

     137,088        142,390   

Prepaid Expenses

     61,226        81,498   

Other Assets

     75,815        97,140   

Freestanding Derivatives

     10,343        55,344   
 

 

 

    

 

 

  
  $ 284,472      $ 376,372   
 

 

 

    

 

 

  

Depreciation expense of $33.6 million, $34.0 million and $31.6 million related to furniture, equipment and leasehold improvements for the years ended December 31, 2013, 2012 and 2011, respectively, is included in General, Administrative and Other in the accompanying Consolidated Statements of Operations.

Accounts Payable, Accrued Expenses and Other Liabilities includes $57.0 million and $170.4 million as of December 31, 2013 and 2012, respectively, relating to redemptions that were legally payable to investors as of the balance sheet dates and $229.1 million and $352.3 million of payables relating to unsettled purchases within Blackstone’s consolidated funds, respectively.