Prepaid Expenses and Other Current Assets and Other Assets

9 Months Ended

Sep. 30, 2019

Prepaid Expenses and Other Current Assets and Other Assets [Abstract]

Prepaid Expenses and Other Current Assets and Other Assets

6.PREPAID EXPENSES AND OTHER CURRENT ASSETS AND OTHER ASSETS

The Company’s prepaid expenses and other current assets are comprised of the following:

	As of		As of
	September 30, 2019		December 31, 2018
		(in thousands)
Prepaid ground rent (1)	$	1,497	$	34,276
Loan receivables		—		11,178
Marketable Securities		656		239
Prepaid real estate taxes		4,193		2,998
Other		15,600		14,435
Total prepaid expenses and other current assets	$	21,946	$	63,126

(1)Prepaid ground rent related to non-contingent rent provisions was reclassified to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02.

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The Company’s other assets are comprised of the following:

	As of		As of
	September 30, 2019		December 31, 2018
		(in thousands)
Prepaid ground rent (1)	$	—	$	263,694
Straight-line rent receivable		326,220		322,073
Loan receivables		8,767		49,255
Deferred lease costs, net (1)		4,342		27,020
Deferred tax asset - long term		16,981		18,330
Other		40,701		41,661
Total other assets	$	397,011	$	722,033

(1)Prepaid ground rent was reclassified from Other assets to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 and deferred lease costs of $23.3 million were written off to Accumulated deficit on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02.