OTHER ASSETS

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other assets consist of the following:



	December 31,
(Dollars in millions)	2019		2018
Straight line rent	$	47.3	$	34.6
Hedge assets	32.6		43.7
Loan purchases and originations	29.4		27.8
Above-market leases, net of accumulated amortization of $51.0 million and $48.3 million at December 31, 2019 and 2018, respectively	26.1		37.2
Goodwill	23.9		23.9
Furniture and equipment net of accumulated depreciation of $21.9 and $37.9 at December 31, 2019 and December 31, 2018, respectively	23.7		31.4
Deferred taxes, net	24.4		24.7
Prepaid expenses	14.3		13.7
Right of use asset, net	13.6		—
Leasing commissions, net of accumulated amortization of $4.7 million and $3.3 million at December 31, 2019 and 2018, respectively	11.9		11.5
Other, net of accumulated amortization of $2.0 million and $2.8 million at December 31, 2019 and 2018, respectively	9.0		10.9
Development project asset	3.3		6.6
VAT receivable	2.5		2.3
Deposits	1.7		6.5
Other Assets	$	263.7	$	274.8

Depreciation and amortization expense related to the above depreciable assets were $14.2 million, $15.8 million, and $13.6 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Leases

The Company, as a lessee, has three office leases and four ground leases, which qualify as operating leases, with remaining lease terms of 5 to 239 years. The payments associated with office space leases have been discounted using the Company's incremental borrowing rate which is based on collateralized interest rates in the market and risk profile of the associated lease. For ground leases the rate implicit in the lease was used to determine the right of use asset.

The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee:



(Dollars in millions)	Minimum
	Rental Payments
2020	$	1.4
2021	1.4
2022	1.4
2023	0.8
2024	0.4
Thereafter	34.3
Total undiscounted rental payments	39.7
Less imputed interest	(26.1		)
Total lease liability	$	13.6

During the year ended December 31, 2019 the Company made $2.8 million of cash payments on its operating leases.