Quarterly report pursuant to Section 13 or 15(d)

Prepaid Expenses and Other Assets

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Prepaid Expenses and Other Assets
6 Months Ended
Jun. 30, 2013
Prepaid Expense and Other Assets [Abstract]  
Prepaid Expenses and Other Assets
Prepaid Expenses and Other Assets
 
Prepaid expenses and other assets consisted of the following (in thousands):
 
 
June 30,
2013
 
December 31,
2012
Mortgage and other investing receivables
$
38,966

 
$
33,396

Lease incentives
9,144

 
5,578

Prepaid expenses
8,215

 
19,270

Furniture, fixtures and equipment, net
7,093

 
7,991

Interest rate derivatives
6,963

 

Deferred tax asset
6,455

 
6,612

Other assets
6,835

 
4,608

Prepaid expenses and other assets
$
83,671

 
$
77,455


 
Mortgage and Other Investing Receivables
 
Mortgage and other investing receivables consisted of the following (in thousands):
 
 
June 30,
2013
 
December 31,
2012
Notes receivable from City of Huntsville
$
38,966

 
$
33,252

Mortgage loan receivable

 
144

 
$
38,966

 
$
33,396


 
Our notes receivable from the City of Huntsville funded infrastructure costs in connection with our LW Redstone Company, LLC joint venture (see Note 5).  We did not have an allowance for credit losses in connection with our notes receivable at June 30, 2013 or December 31, 2012.  The fair value of these receivables totaled $39.0 million at June 30, 2013 and $33.4 million at December 31, 2012.

Operating Notes Receivable
 
We had operating notes receivable due from tenants with terms exceeding one year totaling $236,000 at June 30, 2013 and $271,000 at December 31, 2012.  We carried allowances for estimated losses for most of these balances.