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Accounts payable, accrued expenses, and tenant security deposits
9 Months Ended
Sep. 30, 2019
Accounts payable, accrued expenses, and tenant security deposits [Abstract]  
Accounts payable, accrued expenses, and tenant security deposits
Accounts payable, accrued expenses, and other liabilities

The following table summarizes the components of accounts payable, accrued expenses, and other liabilities as of September 30, 2019, and December 31, 2018 (in thousands):
 
September 30, 2019
 
December 31, 2018
Accounts payable and accrued expenses
$
203,910

 
$
215,539

Accrued construction
287,809

 
275,882

Acquired below-market leases
149,268

 
134,808

Conditional asset retirement obligations
14,155

 
10,343

Deferred rent liabilities(1)
2,932

 
29,547

Interest rate hedge liabilities

 
768

Operating lease liability(1)
270,614

 

Unearned rent and tenant security deposits
249,667

 
250,923

Other liabilities
62,921

 
63,897

Total
$
1,241,276

 
$
981,707



(1)
Refer to Note 2 – “Summary of Significant Accounting Policies” and Note 5 – “Leases” to these unaudited consolidated financial statements for additional information.

Some of our properties may contain asbestos, which, under certain conditions, requires remediation. Although we believe that the asbestos is appropriately contained in accordance with environmental regulations, our practice is to remediate the asbestos upon the development or redevelopment of the affected property. We recognize a liability for the fair value of a conditional asset retirement obligation (including asbestos) when the fair value of the liability can be reasonably estimated. For certain properties, we do not recognize an asset retirement obligation when there is an indeterminate settlement date for the obligation because the period in which we may remediate the obligation may not be estimated with any level of precision to provide for a meaningful estimate of the retirement obligation.