Other Assets and Intangibles

12 Months Ended

Dec. 31, 2016

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets and Intangibles

5. Other Assets and Intangibles

Other assets consist of the following (in thousands):  

	December 31,
	2016		2015
Intangible assets:
In-place leases, net	$	99,600	$	130,330
Above-market leases, net		20,405		30,258
Lease origination costs		12,931		15,956
Tenant relations, net		108,662		134,504
Total intangible assets, net(A)		241,598		311,048
Other assets:
Prepaid expenses(B)		26,842		28,923
Other assets		6,274		6,293
Deposits		5,965		7,536
Deferred charges, net		4,731		6,113
Total other assets, net	$	285,410	$	359,913
Below-market leases, net (other liabilities)(A)	$	147,941	$	155,297

(A) In the event a tenant terminates its lease prior to the contractual expiration, the unamortized portion of the related intangible asset or liability is written off.  

(B) Includes $16.2 million and $16.8 million at December 31, 2016 and 2015, respectively.  During 2015, in accordance with amended legislation of the Puerto Rico Internal Revenue Code, the Company elected and paid this tax as part of an overall tax restructuring (Note 17).  

Amortization expense related to the Company’s intangibles, excluding above- and below-market leases, was as follows (in millions):

Year	Expense
2016	$	72.1
2015		92.6
2014		109.5

Estimated net future amortization associated with the Company’s intangible assets is as follows (in millions):

Year	Income		Expense
2017	$	6.1	$	61.0
2018		7.6		43.6
2019		8.4		32.9
2020		8.5		23.6
2021		8.8		17.2