v2.4.1.9
Other Assets and Other Liabilities
12 Months Ended
Dec. 31, 2014
Text Block [Abstract]  
Other Assets and Other Liabilities
7. Other Assets and Other Liabilities

Our other assets consisted of the following, net of amortization and depreciation, if applicable, at December 31 (in thousands):

 

      2014      2013  

Leasing commissions

   $ 241,557       $ 222,267   

Rent leveling and above market leases

     224,589         256,018   

Derivative assets

     106,664         20,241   

Prepaid assets

     105,093         136,729   

Fixed assets

     86,927         85,389   

Value added taxes receivable

     86,331         106,074   

Loan fees

     53,025         49,920   

Management contracts

     52,896         61,082   

Other notes receivable

     46,570         38,860   

Deferred income taxes

     7,887         19,020   

Other

     84,525         99,863   
  

 

 

    

 

 

 

Totals

   $         1,096,064       $         1,095,463   

 

Our other liabilities consisted of the following, net of amortization, if applicable, at December 31 (in thousands):

 

      2014      2013  

Tenant security deposits

   $ 169,326       $ 191,070   

Income tax liabilities

     85,200         184,888   

Unearned rents

     74,873         64,156   

Derivative liabilities

     52,740         77,018   

Below market leases

     30,651         30,031   

Deferred income

     16,326         39,565   

Value added taxes payable

     13,358         57,260   

Environmental

     10,878         16,926   

Other

     173,074         159,731   
  

 

 

    

 

 

 

Totals

   $         626,426       $         820,645   

The expected future amortization of leasing commissions into rental expense of $241.6 million is summarized in the table below. We also expect our above and below market leases and rent leveling net assets, which total $193.9 million at December 31, 2014, to be amortized into rental income as follows (in thousands):

 

      Amortization
Expense
    

Net Charge to

Rental Income

 

2015

   $ 69,815       $ 10,678   

2016

     55,330         22,322   

2017

     41,783         25,152   

2018

     25,342         23,843   

2019

     15,531         20,413   

Thereafter

     33,756         91,530   
  

 

 

    

 

 

 

Totals

   $ 241,557       $ 193,938