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Other Assets and Liabilities
 9 Months Ended
Sep. 30, 2022
Other Assets and Liabilities [Abstract]  
Other Assets and Liabilities
5. Other Assets and Liabilities
 
Prepaid Expenses and Other Assets The following table summarizes the significant components of Prepaid expenses and other assets:
thousandsSeptember 30, 2022December 31, 2021$ Change
Condominium inventory (a)$153,754 $57,507 $96,247 
Special Improvement District receivable (b)73,386 86,165 (12,779)
Security, escrow and other deposits 45,764 45,546 218 
In-place leases 40,772 44,225 (3,453)
Interest rate derivative assets (c)29,712 1,257 28,455 
Intangibles 27,296 29,752 (2,456)
Prepaid expenses 26,052 21,370 4,682 
Tenant incentives and other receivables 7,598 6,623 975 
Other 7,424 6,617 807 
TIF receivable 1,776 855 921 
Food and beverage and lifestyle inventory 925 1,039 (114)
Prepaid expenses and other assets, net$414,459 $300,956 $113,503 
(a)The increase in Condominium inventory is attributable to the addition of inventory units at the newly completed Kō'ula, partially offset by closing on inventory units at ‘A’ali’i.
(b)The decrease in Special Improvement District receivable is primarily attributable to increased SID Bond collections in Summerlin.
(c)The increase in Interest rate derivative assets is related to mark-to-market adjustments, primarily attributable to increases in projected interest rates and inflation.

Accounts Payable and Accrued Expenses The following table summarizes the significant components of Accounts payable and accrued expenses:
thousandsSeptember 30, 2022December 31, 2021$ Change
Condominium deposit liabilities (a)$510,482 $368,997 $141,485 
Construction payables 300,602 284,384 16,218 
Deferred income 65,477 71,902 (6,425)
Accounts payable and accrued expenses (b)38,320 72,828 (34,508)
Accrued real estate taxes 36,573 26,965 9,608 
Tenant and other deposits 29,804 30,943 (1,139)
Accrued payroll and other employee liabilities 25,892 29,648 (3,756)
Accrued interest (c)25,353 47,738 (22,385)
Other 17,764 23,310 (5,546)
Interest rate derivative liabilities (d)— 26,452 (26,452)
Accounts payable and accrued expenses$1,050,267 $983,167 $67,100 
(a)The increase in Condominium deposit liabilities is primarily attributable to contracted sales at Kō'ula, Ulana Ward Village and The Park Ward Village.
(b)The decrease in Accounts payable and accrued expenses is primarily attributable to the payment of property tax assessments in 2022 and payment of amounts related to repurchases of common stock accrued at December 2021.
(c)The decrease in Accrued interest is primarily due to the timing of semi-annual interest payments on the Company’s Senior Notes.
(d)The decrease in Interest rate derivative liabilities is related to mark-to-market adjustments, primarily attributable to increases in projected interest rates and inflation.