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Prepaid Expenses and Other Assets, Net | 12 Months Ended
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Dec. 31, 2020
Prepaid Expense and Other Assets [Abstract] |
Prepaid Expenses and Other Assets, Net | Prepaid Expenses and Other Assets, Net Prepaid expenses and other assets, net consisted of the following (in thousands):
| December 31,
| 2020 |  | 2019
Lease incentives, net | $ | 35,642 |  |  | $ | 28,433 |
Prepaid expenses | 19,690 |  |  | 18,835 |
Furniture, fixtures and equipment, net | 10,433 |  |  | 7,823 |
Construction contract costs in excess of billings, net | 10,343 |  |  | 17,223 |
Net investment in sales-type leases | 6,573 |  |  | — |
Non-real estate equity investments | 5,509 |  |  | 6,705 |
Restricted cash | 3,664 |  |  | 3,397 |
Deferred financing costs, net (1) | 2,439 |  |  | 3,633 |
Deferred tax asset, net | 1,989 |  |  | 2,328 |
Other assets | 5,274 |  |  | 4,639 |
Total for COPLP and subsidiaries | 101,556 |  |  | 93,016 |
Marketable securities in deferred compensation plan | 3,027 |  |  | 3,060 |
Total for COPT and subsidiaries | $ | 104,583 |  |  | $ | 96,076 |
(1)Represents deferred costs, net of accumulated amortization, attributable to our Revolving Credit Facility and interest rate derivatives. Deferred tax asset, net reported above includes the following tax effects of temporary differences and carry forwards of our TRS (in thousands):
| December 31,
| 2020 |  | 2019
Operating loss carry forward | $ | 2,087 |  |  | $ | 2,885 |
Property | 103 |  |  | (77) |
Valuation allowance | (201) |  |  | (480) |
Deferred tax asset, net | $ | 1,989 |  |  | $ | 2,328 |
We recognize a valuation allowance on our deferred tax asset if we believe all or some portion of the asset may not be realized. An increase or decrease in the valuation allowance resulting from a change in circumstances that causes a change in our judgment about the realizability of our deferred tax asset is included in income. We believe it is more likely than not that the results of future operations in our TRS will generate sufficient taxable income to realize our December 31, 2020 net deferred tax asset.

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