COPT Defense Properties Annual report pursuant to Section 13 and 15(d)

Prepaid Expenses and Other Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

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


	December 31,
	2020		2019
Lease incentives, net	$	35,642	$	28,433
Prepaid expenses	19,690		18,835
Furniture, fixtures and equipment, net	10,433		7,823
Construction contract costs in excess of billings, net	10,343		17,223
Net investment in sales-type leases	6,573		—
Non-real estate equity investments	5,509		6,705
Restricted cash	3,664		3,397
Deferred financing costs, net (1)	2,439		3,633
Deferred tax asset, net	1,989		2,328

Other assets	5,274		4,639
Total for COPLP and subsidiaries	101,556		93,016
Marketable securities in deferred compensation plan	3,027		3,060
Total for COPT and subsidiaries	$	104,583	$	96,076

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

Deferred tax asset, net reported above includes the following tax effects of temporary differences and carry forwards of our TRS (in thousands):


	December 31,
	2020		2019
Operating loss carry forward	$	2,087	$	2,885
Property	103		(77)


Valuation allowance	(201)		(480)
Deferred tax asset, net	$	1,989	$	2,328