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Other Current Liabilities and Other Liabilities
12 Months Ended
Dec. 31, 2014
Other Current Liabilities and Other Liabilities  
Other Current Liabilities and Other Liabilities

8. Other Current Liabilities and Other Liabilities

 

Other Current Liabilities

 

Other current liabilities consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

    

2014

    

2013

 

Property, sales and use taxes payable

 

$

14,490 

 

$

14,482 

 

Income tax payable

 

 

295 

 

 

 

Accrued interest

 

 

3,289 

 

 

3,078 

 

Advance deposits

 

 

10,742 

 

 

8,259 

 

Management fees payable

 

 

3,467 

 

 

1,077 

 

Other

 

 

4,183 

 

 

3,392 

 

 

 

$

36,466 

 

$

30,288 

 

 

Other Liabilities

 

Other liabilities consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

    

2014

    

2013

 

Deferred gain on sale of asset

 

$

7,000 

 

$

14,000 

 

Interest rate swap derivative agreement

 

 

 —

 

 

1,066 

 

Accrued income tax

 

 

1,541 

 

 

1,491 

 

Deferred revenue

 

 

6,790 

 

 

6,918 

 

Deferred rent

 

 

15,075 

 

 

12,270 

 

Deferred incentive management fees

 

 

534 

 

 

1,714 

 

Other

 

 

2,667 

 

 

2,499 

 

 

 

$

33,607 

 

$

39,958 

 

 

In conjunction with the Rochester Portfolio sale, the Company retained a $14.0 million liability related to the Rochester Portfolio’s pension plan, which could be triggered in certain circumstances, including termination of the pension plan. Accordingly, the Company deferred $14.0 million of gain on the sale of the Rochester Portfolio. In May 2014, the Company was released from $7.0 million of its pension plan liability, causing the Company to recognize $7.0 million of the deferred gain on sale of the Rochester Portfolio, which is included in discontinued operations for the year ended December 31, 2014. The remaining $7.0 million deferred gain will be recognized, if at all, when and to the extent the Company is released from any potential liability related to the Rochester Portfolio’s pension plan.