Restricted Cash, Other Assets and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Restricted Cash, Other Assets And Other Liabilities [Abstract]

The following table summarizes the Company's restricted cash balance:



(In thousands)	December 31, 2018		December 31, 2017
Capital expenditures reserves ⁽¹⁾	$	215,366	$	249,612
Real estate escrow reserves ⁽²⁾	51,352		42,420
Borrower escrow deposits	10,412		41,545
Working capital and other reserves ⁽³⁾	19,586		23,043
Tenant lock boxes ⁽⁴⁾	15,666		16,486
Restricted cash of consolidated N-Star CDOs ⁽⁵⁾	—		13,656
Other	54,376		84,316
Total restricted cash	$	366,758	$	471,078

__________


⁽¹⁾	Represents primarily capital improvements, furniture, fixtures and equipment, tenant improvements, lease renewal and replacement reserves related to real estate assets.


⁽²⁾	Represents primarily insurance, real estate tax, repair and maintenance, tenant security deposits and other escrows related to real estate assets.


⁽³⁾	Represents reserves for working capital and property development expenditures, as well as in connection with letter of credit provisions, as required in joint venture arrangements with the Federal Deposit Insurance Corporation.


⁽⁴⁾	Represents tenant rents held in lock boxes controlled by the lender. The Company receives the monies after application of rent receipts to service its debt.


⁽⁵⁾	Balance at December 31, 2017 represents proceeds from repayments and/or sales of debt securities which are pending distribution in consolidated N-Star CDOs. The Company sold all of its interest in the sponsored N-Star CDOs in May 2018 and deconsolidated the N-Star CDOs.

Schedule of Allowance for Doubtful Accounts

The following table summarizes the Company's accrued and other liabilities:



(In thousands)	December 31, 2018		December 31, 2017
Tenant security deposits and payable	$	29,070	$	27,560
Borrower escrow deposits	13,001		46,231
Deferred income ⁽¹⁾	40,156		42,457
Interest payable	40,648		42,462
Derivative liabilities (Note 13)	132,808		204,848
Contingent consideration—THL Hotel Portfolio (Note 3)	8,903		7,419
Share repurchase payable ⁽²⁾	7,567		—
Current and deferred income tax liability	93,174		166,276
Accrued compensation	81,911		77,483
Accrued carried interest and contractual incentive fee compensation	12,182		—
Accrued real estate and other taxes	64,440		77,060
Other accrued expenses	89,745		107,508
Accounts payable and other liabilities	94,316		98,857
Total accrued and other liabilities	$	707,921	$	898,161

__________

⁽¹⁾

Represents primarily prepaid rental income and interest income held in reserve accounts. Includes deferred asset management fee income of $3.2 million at December 31, 2018 and $2.7 million at December 31, 2017, which will be recognized as fee income on a straight-line basis through 2025. Adoption of the new revenue recognition standard had resulted in approximately $1.6 million increase to deferred management fee income on January 1, 2018. For the year ended December 31, 2018, $0.6 million relating to the deferred asset management fee balance at January 1, 2018 was recognized as fee income.


⁽²⁾	Represents the Company's common stock repurchases transacted in December 2018 and settled in January 2019.

Schedule of the Company's Other Assets, Net

The following table summarizes the Company's other assets:



(In thousands)	December 31, 2018		December 31, 2017
Interest receivable	$	14,005	$	21,529
Straight-line rents	61,196		45,598
Hotel-related reserves ⁽¹⁾	21,636		29,208
Investment deposits and pending deal costs	34,179		1,706
Deferred financing costs, net ⁽²⁾	7,870		10,068
Contingent consideration escrow account ⁽³⁾	—		15,730
Derivative assets(Note 13)	33,558		10,152
Prepaid taxes and deferred tax assets, net	71,656		79,063
Receivables from resolution of investments ⁽⁴⁾	30,770		15,215
Contributions receivable ⁽⁵⁾	55,252		25,501
Accounts receivable ⁽⁶⁾	67,005		87,744
Prepaid expenses	26,991		29,526
Other assets	31,267		20,296
Fixed assets, net	47,932		53,632
Total other assets	$	503,317	$	444,968

__________


⁽¹⁾	Represents reserves held by the Company's third party managers at certain of the Company's hotel properties to fund furniture, fixtures and equipment expenditures. Funding is made periodically based on a percentage of hotel operating income.


⁽²⁾	Deferred financing costs relate to revolving credit arrangements.

⁽³⁾

Contingent consideration escrow account holds certificates of deposit and cash for dividends paid on OP Units held in escrow for the contingent consideration that may be earned by certain executives in connection with the acquisition of the investment management business of Colony's former manager (Note 14). Upon final measurement of the contingent consideration at the end of its earnout period on June 30, 2018, the final amount of dividends on class A common stock and OP Units payable to the executives was determined to be $6.4 million, which was settled in August 2018, and the remaining escrow balance was released back to the Company.


⁽⁴⁾	Represents primarily proceeds from loan repayments held in escrow and sales of marketable equity securities pending settlement.


⁽⁵⁾	Represents contributions receivable from noncontrolling interests in investment entities as a result of capital calls made at period end.


⁽⁶⁾	Includes receivables for hotel operating income, resident fees, rent and other tenant receivables.