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,
(In thousands)	2018		2017
Condominium inventory	$	78,696	$	—
Straight-line rent	47,649		39,136
Intangibles	34,125		34,802
Special Improvement District receivable	23,747		26,430
Below-market ground leases	18,381		18,647
Prepaid expenses	16,142		11,731
Equipment, net of accumulated depreciation of $7.9 million and $6.9 million, respectively	15,961		16,955
Security and escrow deposits	15,632		16,949
Other	9,026		4,798
Tenant incentives and other receivables	8,880		8,482
In-place leases	7,436		10,821
TIF receivable	6,048		14,444
Federal income tax receivable	2,000		2,198
Interest rate swap derivative assets	1,288		4,470
Above-market tenant leases	1,183		1,648
Condominium receivables	—		158,516
Prepaid expenses and other assets, net	$	286,194	$	370,027

The $83.8 million net decrease primarily relates to a $158.5 million decrease in Condominium receivables, of which $99.6 million relates to the adoption of the New Revenue Standard, and was partially offset by a $78.7 million increase in Condominium inventory.

Accounts Payable and Accrued Expenses

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



	September 30,		December 31,
(In thousands)	2018		2017
Construction payables	$	270,450	$	217,838
Condominium deposit liabilities	228,658		55,975
Deferred income	48,156		53,337
Accounts payable and accrued expenses	32,578		35,887
Accrued payroll and other employee liabilities	29,661		41,236
Accrued real estate taxes	26,541		22,289
Other	22,728		34,699
Tenant and other deposits	20,975		18,937
Straight-line ground rent liability	16,282		14,944
Accrued interest	8,086		20,322
Interest rate swap derivative liabilities	1,749		5,961
Above-market ground leases	—		293
Accounts payable and accrued expenses	$	705,864	$	521,718

The $184.1 million net increase in total Accounts payable and accrued expenses primarily relates to a $172.7 million increase in Condominium deposit liabilities, $99.6 million of which relates to the impact of the adoption of the New Revenue Standard, with the remainder representing new sales, primarily at Ae‘o and ‘A‘ali‘i, and a $52.6 million increase in Construction payables predominantly related to the towers under construction at Ward Village as the projects move toward completion.