OTHER ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2017

OTHER ASSETS AND LIABILITIES

Summary of the significant components of prepaid expenses and other assets

	September 30,		December 31,
(In thousands)	2017		2016
Condominium deposits	$	320,097	$	193,197
Condominium receivables (a)		213,158		210,219
Special Improvement District receivable		55,841		61,603
Straight-line rent		36,365		31,518
In-place leases		11,209		16,015
Below-market ground leases		18,732		18,986
Above-market tenant leases		1,786		2,457
Equipment, net of accumulated depreciation of $6.5 million and $4.9 million, respectively		17,364		17,556
Security and escrow deposits		48,277		61,304
Tenant incentives and other receivables		8,976		8,773
Prepaid expenses		13,197		11,177
Federal income tax receivable		8,513		15,763
Intangibles		35,368		4,046
Interest rate swap derivative assets		3,244		—
Other		3,892		13,902
	$	796,019	$	666,516

(a) We expect $140.5 million of the Condominium receivables outstanding at September 30, 2017 to be collected in 2017 upon closing Anaha and the remaining contracted units at Waiea. Of the remaining, $71.4 million related to Ae`o will be collected in 2018, and $1.3 million relating to Ke Kilohana will be collected in 2019.

Summary of the significant components of accounts payable and accrued expenses

	September 30,		December 31,
(In thousands)	2017		2016
Construction payables	$	183,585	$	207,917
Condominium deposit liabilities		64,457		117,015
Deferred income		49,053		85,158
Accounts payable and accrued expenses		33,466		33,050
Tenant and other deposits		19,506		28,559
Accrued interest		8,256		16,897
Accrued payroll and other employee liabilities		26,685		36,937
Accrued real estate taxes		21,525		16,726
Interest rate swaps		7,742		(149)
Straight-line ground rent liability		14,493		13,126
Above-market ground leases		587		1,762
Other		33,498		15,012
	$	462,853	$	572,010