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

Prepaid Expenses and Other Assets, Net (Tables)

3 Months Ended

Mar. 31, 2020

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



	March 31, 2020		December 31, 2019
Lease incentives, net	$	29,026	$	28,433
Prepaid expenses	12,482		18,835
Furniture, fixtures and equipment, net	7,620		7,823
Construction contract costs in excess of billings, net	7,463		17,223
Non-real estate equity investments	6,714		6,705
Restricted cash	3,826		3,397
Deferred financing costs, net (1)	3,351		3,633
Deferred tax asset, net (2)	2,279		2,328
Other assets	5,375		4,639
Total for COPLP and subsidiaries	78,136		93,016
Marketable securities in deferred compensation plan	2,279		3,060
Total for COPT and subsidiaries	$	80,415	$	96,076

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

(2) Includes a valuation allowance of $480,000 as of March 31, 2020 and December 31, 2019.