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Other Assets And Deferred Charges, Net
12 Months Ended
Dec. 31, 2015
Other Assets And Deferred Charges, Net [Abstract]  
Other Assets And Deferred Charges, Net

Note 8. Other Assets and Deferred Charges, Net

 

Other assets and deferred charges, net at December 31, 2015 and 2014 are comprised of the following:

 

 

 

 

 

 

 

 

December 31,

 

 

2015

 

2014

Lease origination costs (a)

 

$       18,394,000

 

$      18,180,000

Financing costs

 

5,490,000 

 

4,256,000 

Prepaid expenses

 

6,104,000 

 

6,689,000 

Leasehold improvements, furniture and fixtures

 

532,000 

 

761,000 

Investments related to share-based compensation

 

539,000 

 

492,000 

Other

 

1,339,000 

 

1,168,000 

 

 

 

 

 

Total other assets and deferred charges, net

 

$       32,398,000

 

$      31,546,000

 

 

 

 

 

(a)

Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $8.0 million (cost of $21.3 million and accumulated amortization of $13.3 million) and $8.4 million (cost of $20.7 million and accumulated amortization of $12.3 million) for the years ended December 31, 2015 and 2014, 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 $5.2 million, $5.6 million and $5.2 million for 2015, 2014 and 2013, respectively. The unamortized balances of deferred lease origination costs and deferred financing costs are net of accumulated amortization of $25.6 million and $6.9 million, respectively, and will be charged to future operations as follows (lease origination costs through 2080, and financing costs through 2029):

 

 

 

 

 

 

 

 

 

 

Lease

 

 

 

 

 

origination

 

Financing

 

 

 

costs

 

costs

 

2016 

 

$     3,081,000

 

$   1,555,000

 

2017 

 

2,513,000 

 

1,422,000 

 

2018 

 

2,146,000 

 

1,401,000 

 

2019 

 

1,834,000 

 

580,000 

 

2020 

 

1,342,000 

 

292,000 

 

Thereafter

 

7,478,000 

 

240,000 

 

 

 

$   18,394,000

 

$   5,490,000