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Other Assets And Deferred Charges, Net
12 Months Ended
Dec. 31, 2013
Other Assets And Deferred Charges, Net [Abstract]  
Other Assets And Deferred Charges, Net

Note 9. Other Assets and Deferred Charges, Net

 

Other assets and deferred charges, net at December 31, 2013 and 2012 are comprised of the following:

 

 

 

 

 

 

 

 

 

December 31,

 

 

2013

 

2012

Other assets:

 

 

 

 

Prepaid expenses

 

$         5,234,000

 

$        5,196,000

Leasehold improvements, furniture and fixtures

 

1,020,000 

 

1,161,000 

Investments related to share-based compensation

 

435,000 

 

450,000 

Property and other deposits

 

356,000 

 

152,000 

Other

 

227,000 

 

351,000 

 

 

7,272,000 

 

7,310,000 

 

 

 

 

 

Deferred charges, net:

 

 

 

 

Lease origination costs (a)

 

15,187,000 

 

14,754,000 

Financing costs

 

5,194,000 

 

5,529,000 

Other

 

642,000 

 

1,650,000 

 

 

21,023,000 

 

21,933,000 

 

 

 

 

 

Total other assets and deferred charges, net

 

$       28,295,000

 

$      29,243,000

 

 

 

 

 

(a) Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $5.6 million (cost of $17.5 million and accumulated amortization of $11.9 million) and $6.1 million (cost of $16.7 million and accumulated amortization of $10.6 million), respectively.

 

Deferred charges are amortized over the terms of the related agreements. Amortization expense related to deferred charges (including amortization of deferred financing costs included in non-operating income and expense) amounted to $5.6 million, $7.9 million and $7.3 million for 2013, 2012 and 2011, respectively. The unamortized balances of deferred lease origination costs and deferred financing costs are net of accumulated amortization of $20.3 million and $10.2 million, respectively, and will be charged to future operations as follows (lease origination costs through 2033, and financing costs through 2029):

 

 

 

 

 

 

 

 

 

 

Lease

 

 

 

 

 

origination

 

Financing

 

 

 

costs

 

costs

 

2014 

 

$     2,897,000

 

$   1,883,000

 

2015 

 

2,453,000 

 

1,569,000 

 

2016 

 

2,118,000 

 

1,026,000 

 

2017 

 

1,560,000 

 

257,000 

 

2018 

 

1,248,000 

 

172,000 

 

Thereafter

 

4,911,000 

 

287,000 

 

 

 

$   15,187,000

 

$   5,194,000