NOTE 12 OTHER ASSETS AND LIABILITIES

Prepaid Expenses and Other Assets

The following table summarizes the significant components of prepaid expenses and other assets.

	September 30,		December 31,
	2013		2012
	(In thousands)
Special Improvement District receivable	$	39,667	$	39,659
Equipment	22,301		—
Tenant and other receivables	4,959		2,346
Federal income tax receivable	5,913		5,367
Prepaid expenses	7,266		4,757
Below-market ground leases	20,087		20,341
Condominium deposits	—		19,616
Security and escrow deposits	15,007		12,865
Above-market tenant leases	1,147		1,896
Uncertain tax position asset	14,756		12,801
In-place leases	9,946		11,516
Intangibles	3,714		3,714
Other	6,671		8,592
	$	151,434	$	143,470

The $7.9 million increase as of September 30, 2013 compared to December 31, 2012 primarily relates to a $22.3 million increase in equipment related to an airplane purchase, a $2.6 million increase in tenant and other receivables, primarily related to $2.0 million of lease incentives at Ward Centers, which was offset by a decrease of $19.6 million in condominium deposits due to the sale of our condominium rights for ONE Ala Moana.

Accounts Payable and Accrued Expenses

The following table summarizes the significant components of accounts payable and accrued expenses.

	September 30,		December 31,
	2013		2012
	(In thousands)
Construction payables	$	63,694	$	17,501
Accounts payable and accrued expenses	53,402		39,634
Condominium deposits	—		19,616
Membership deposits	23,136		20,248
Above-market ground leases	2,470		2,590
Deferred income	20,956		7,767
Accrued interest	6,123		2,425
Accrued real estate taxes	8,262		6,622
Tenant and other deposits	11,891		8,096
Insurance reserve	2,087		9,037
Accrued payroll and other employee liabilities	13,035		11,514
Special assessment	2,868		2,868
Interest rate swaps	4,696		7,183
Other	11,360		15,420
	$	223,980	$	170,521

The $53.5 million increase as of September 30, 2013 compared to December 31, 2012 is primarily due to the increase of $46.2 million in construction payables, which relates to construction and renovation activities primarily for The Shops at Summerlin, Ward Village and Riverwalk properties that are under development, an increase of $13.2 million in deferred income primarily due to increased land sales and the deferral of a portion of the income for post-sale land development obligations at our Summerlin MPC, and an increase of $13.8 million in accounts payable and accrued expenses primarily due to the accrual of $8.6 million for lease terminations. These increases were partially offset by the decrease of $19.6 million in condominium deposits as of September 30, 2013 compared to December 31, 2012 due to the sale of our condominium rights.