COPT Defense Properties Quarterly report pursuant to Section 13 or 15(d)

Prepaid Expenses and Other Assets, Net (Tables)

3 Months Ended

Mar. 31, 2019

Prepaid expenses and other assets, net consisted of the following (in thousands):



	March 31, 2019		December 31, 2018
Lease incentives, net	$	22,981	$	21,258
Construction contract costs incurred in excess of billings	14,834		3,189
Prepaid expenses	10,749		25,658
Furniture, fixtures and equipment, net (1)	8,453		8,630
Non-real estate equity investments	5,792		5,940
Deferred financing costs, net (2)	4,473		4,733
Restricted cash	3,995		3,884
Deferred tax asset, net (3)	1,890		2,084
Other assets	6,815		6,337
Total for COPLP and subsidiaries	79,982		81,713
Marketable securities in deferred compensation plan	4,214		3,868
Total for COPT and subsidiaries	$	84,196	$	85,581

(1) Includes $1.2 million in finance right-of-use assets as of March 31, 2019.

(2) Represents deferred costs, net of accumulated amortization, attributable to our Revolving Credit Facility and interest rate derivatives.

(3) Includes a valuation allowance of $2.4 million as of March 31, 2019 and $2.7 million as of December 31, 2018.