Deferred Charges and Other Assets, net:

Deferred charges and other assets, net at December 31, 2016 and 2015 consist of the following:



	2016			2015
Leasing	$	239,983		$	248,709
Intangible assets:
In-place lease values(1)	140,437			196,969
Leasing commissions and legal costs(1)	32,384			52,000
Above-market leases	181,851			220,847
Deferred tax assets	38,301			38,847
Deferred compensation plan assets	42,711			37,341
Other assets	72,206			70,070
	747,873			864,783
Less accumulated amortization(2)	(269,815		)	(300,492		)
	$	478,058		$	564,291

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(1)	The estimated amortization of these intangible assets for the next five years and thereafter is as follows:



Year Ending December 31,
2017	$	18,700
2018	14,606
2019	12,170
2020	9,221
2021	7,379
Thereafter	21,960
	$	84,036


(2)	Accumulated amortization includes $88,785 and $109,453 relating to in-place lease values, leasing commissions and legal costs at December 31, 2016 and 2015, respectively. Amortization expense for in-place lease values, leasing commissions and legal costs was $33,048, $69,460 and $52,668 for the years ended December 31, 2016, 2015 and 2014, respectively.

The allocated values of above-market leases and below-market leases consist of the following:



	2016			2015
Above-Market Leases
Original allocated value	$	181,851		$	220,847
Less accumulated amortization	(57,505		)	(73,520		)
	$	124,346		$	147,327
Below-Market Leases(1)
Original allocated value	$	144,713		$	227,063
Less accumulated amortization	(58,400		)	(101,872		)
	$	86,313		$	125,191

_______________________________


(1)	Below‑market leases are included in other accrued liabilities.

The allocated values of above and below-market leases will be amortized into minimum rents on a straight-line basis over the individual remaining lease terms. The estimated amortization of these values for the next five years and thereafter is as follows:



Year Ending December 31,	Above Market		Below Market
2017	$	14,369	$	14,094
2018	12,152		13,191
2019	10,087		11,639
2020	8,720		9,146
2021	7,503		6,883
Thereafter	71,515		31,360
	$	124,346	$	86,313