XML 42 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Deferred Charges and Other Assets, net (Tables)
 6 Months Ended
Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of deferred charges and other assets, net
Deferred charges and other assets, net consist of the following:
 
June 30,
2017
 
December 31,
2016
Leasing
$
225,933

 
$
239,983

Intangible assets:
 
 
 
In-place lease values
114,999

 
140,437

Leasing commissions and legal costs
28,242

 
32,384

Above-market leases
172,473

 
181,851

Deferred tax assets
47,833

 
38,301

Deferred compensation plan assets
47,205

 
42,711

Other assets
60,222

 
72,206

 
696,907

 
747,873

Less accumulated amortization(1)
(244,627
)
 
(269,815
)
 
$
452,280

 
$
478,058

 
 
 
(1)
Accumulated amortization includes $74,239 and $88,785 relating to in-place lease values, leasing commissions and legal costs at June 30, 2017 and December 31, 2016, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was $5,545 and $8,203 for the three months ended June 30, 2017 and 2016, respectively, and $11,549 and $17,050 for the six months ended June 30, 2017 and 2016, respectively.
Allocated values of above-market leases and below-market leases
The allocated values of above-market leases and below-market leases consist of the following:
 
June 30,
2017
 
December 31,
2016
Above-Market Leases
 
 
 
Original allocated value
$
172,473

 
$
181,851

Less accumulated amortization
(57,813
)
 
(57,505
)
 
$
114,660

 
$
124,346

Below-Market Leases(1)
 
 
 
Original allocated value
$
129,893

 
$
144,713

Less accumulated amortization
(55,052
)
 
(58,400
)
 
$
74,841

 
$
86,313

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