Other Assets and Other Liabilities

Deferred expenses and other assets, net, consist of the following items ($ in thousands):



	As of December 31,
	2014		2013
Intangible assets, net(1)	$	50,088	$	100,652
Other assets	37,085		40,726
Deferred financing fees, net(2)	36,774		33,591
Leasing costs, net(3)	20,031		21,799
Other receivables	13,115		34,655
Corporate furniture, fixtures and equipment, net(4)	5,409		6,557
Deferred expenses and other assets, net	$	162,502	$	237,980

Explanatory Notes:

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(1)

Intangible assets, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible assets was $45.1 million and $38.1 million as of December 31, 2014 and 2013, respectively. The amortization of above market leases decreased operating lease income on the Company's Consolidated Statements of Operations by $7.7 million, $7.0 million and $5.8 million for the years ended December 31, 2014, 2013, and 2012, respectively. The amortization expense for other intangible assets was $6.7 million, $8.2 million and $7.0 million for the years ended December 31, 2014, 2013, and 2012, respectively. These amounts are included in "Depreciation and amortization" on the Company's Consolidated Statements of Operations.


(2)	Accumulated amortization on deferred financing fees was $15.4 million and $9.9 million as of December 31, 2014 and 2013, respectively.


(3)	Accumulated amortization on leasing costs was $9.0 million and $7.1 million as of December 31, 2014 and 2013, respectively.


(4)	Accumulated depreciation on corporate furniture, fixtures and equipment was $7.1 million and $6.2 million as of December 31, 2014 and 2013, respectively.

Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):



	As of December 31,
	2014		2013
Accrued expenses	$	62,866	$	58,840
Accrued interest payable	57,895		40,015
Other liabilities(1)	48,256		45,753
Intangible liabilities, net(2)	11,885		26,223
Accounts payable, accrued expenses and other liabilities	$	180,902	$	170,831

Explanatory Notes:

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(1)

As of December 31, 2014, "Other liabilities" includes $6.8 million related to a profit sharing payable to a developer for residential units sold. "Other liabilities" also includes $7.7 million related to tax increment financing ("TIF") bonds which were issued by a governmental entity to fund the installation of infrastructure within one of the Company's master planned community developments. The balance represents a special assessment associated with each individual land parcel, which will decrease as the Company sells parcels.

(2)

Intangible liabilities, net are primarily related to the acquisition of real estate assets. Accumulated amortization on intangible liabilities was $6.2 million and $4.6 million as of December 31, 2014 and 2013, respectively. The amortization of intangible liabilities increased operating lease income on the Company's Consolidated Statements of Operations by $2.5 million, $2.8 million and $1.4 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Intangible assets and liabilities—The estimated aggregate amortization costs of lease intangible assets and liabilities for each of the five succeeding fiscal years are as follows ($ in thousands):



2015	$	5,929
2016	5,677
2017	5,308
2018	4,987
2019	4,830