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Other Assets
12 Months Ended
Dec. 31, 2015
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Other Assets

5.

Other Assets

Other assets consist of the following (in thousands):  

 

 

December 31,

 

 

2015

 

 

2014

 

Intangible assets:

 

 

 

 

 

 

 

In-place leases, net

$

130,330

 

 

$

160,351

 

Above-market leases, net (including lease origination costs)

 

46,214

 

 

 

57,199

 

Tenant relations, net

 

134,504

 

 

 

171,666

 

Total intangible assets, net

 

311,048

 

 

 

389,216

 

Other assets:

 

 

 

 

 

 

 

Prepaid expenses(A)

 

28,923

 

 

 

14,456

 

Other assets

 

6,293

 

 

 

39,746

 

Deposits

 

7,536

 

 

 

8,024

 

Deferred charges, net

 

6,113

 

 

 

5,704

 

Total other assets, net

$

359,913

 

 

$

457,146

 

(A)

Includes deferred tax assets.  During 2015, in accordance with amended legislation of the Puerto Rico Internal Revenue Code, the Company elected and paid an additional $20.2 million as part of an overall tax restructuring of which $16.8 million is recorded as a prepaid expense at December 31, 2015 (Note 17).  

Amortization expense related to the Company’s intangibles, excluding above- and below-market leases, was as follows:

 

Year

 

(Millions)

 

2015

 

$

92.6

 

2014

 

 

109.5

 

2013

 

 

57.0

 

Estimated future amortization expense associated with the Company’s intangible assets, excluding above- and below-market leases, is as follows:

 

Year

 

(Millions)

 

2016

 

$

71.9

 

2017

 

 

58.8

 

2018

 

 

41.1

 

2019

 

 

30.0

 

2020

 

 

21.5