OTHER ASSETS AND LIABILITIES

Prepaid Expenses and Other Assets

The following table summarizes the significant components of Prepaid expenses and other assets:



	March 31,		December 31,
(In thousands)	2018		2017
Straight-line rent	$	42,188	$	39,136
Intangibles	34,465		34,802
Special Improvement District receivable	26,371		26,430
Below-market ground leases	18,562		18,647
Security and escrow deposits	16,888		16,949
Equipment, net of accumulated depreciation of $7.1 million and $6.9 million, respectively	16,798		16,955
Prepaid expenses	12,247		11,731
Other	11,873		19,242
In-place leases	9,805		10,821
Interest rate swap derivative assets	9,011		4,470
Tenant incentives and other receivables	8,208		8,482
Federal income tax receivable	2,198		2,198
Above-market tenant leases	1,495		1,648
Condominium deposits	218		—
Condominium receivables	—		158,516
Total prepaid expenses and other assets	$	210,327	$	370,027

The $159.7 million net decrease primarily relates to the following decreases: a $158.5 million decrease in Condominium receivables of which $154.2 million relates to the adoption of the New Revenue Standard; a $7.4 million decrease in Other and $1.0 million decrease in In-place leases. These decreases were partially offset by the following increases: a $4.5 million increase in Interest rate swap derivative assets; $3.1 million increase in Straight-line rent due to additional Operating Assets placed in service during the quarter; and $0.5 million increase in Prepaid expenses.

Accounts Payable and Accrued Expenses

The following table summarizes the significant components of Accounts payable and accrued expenses:



	March 31,		December 31,
(In thousands)	2018		2017
Construction payables	$	244,192	$	217,838
Condominium deposit liabilities	196,337		55,975
Deferred income	52,758		53,337
Other	27,552		34,699
Accounts payable and accrued expenses	26,328		35,887
Tenant and other deposits	19,681		18,937
Accrued payroll and other employee liabilities	18,246		41,236
Straight-line ground rent liability	15,399		14,944
Accrued real estate taxes	11,271		22,289
Accrued interest	7,507		20,322
Interest rate swaps	—		5,961
Above-market ground leases	—		293
Total accounts payable and accrued expenses	$	619,271	$	521,718

The $97.6 million net increase in total accounts payable and accrued expenses primarily relates to the following increases: $140.4 million increase in Condominium deposit liabilities and $26.4 million increase in Construction payables for the towers under construction at Ward Village as the projects move toward completion; and $1.2 million in other increases. These increases are partially offset by a decrease of $23.0 million in Accrued payroll and other employee liabilities due to payment in the first quarter of 2018 of annual incentive bonus for 2017; a decrease of $12.8 million in Accrued interest primarily due to lower interest accrual activity relating to the issuance of the $1.0 billion, 5.375% senior notes due 2025 ("2025 Notes") at a lower rate than the 6.875% senior notes; an $11.0 million decrease in Accrued real estate taxes; a $9.6 million decrease in Accounts payable and accrued expenses; a $7.1 million decrease in Other; a $6.0 million decrease in Interest rate swaps; and $0.9 million in other decreases.