Other Assets

3 Months Ended

Mar. 31, 2020

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

Other assets consist of the following:



(Dollars in millions)	March 31, 2020		December 31, 2019
Hedge assets	$	53.0	$	32.6
Above-market leases, net of accumulated amortization of $50.4 and $51.0 at March 31, 2020 and December 31, 2019, respectively	20.2		26.1
Straight line rent receivable	48.2		47.3
Loan purchases and originations	16.0		29.4
Furniture and equipment net of accumulated depreciation of $21.3 and $21.9 at March 31, 2020 and December 31, 2019, respectively	21.8		23.7
Deferred taxes, net	24.2		24.4
Goodwill	23.9		23.9
Right of use asset, net	12.5		13.6
Prepaid expenses	13.3		14.3
Leasing commissions, net of accumulated amortization of $4.9 and $4.7 at March 31, 2020 and December 31, 2019, respectively	11.9		11.9
Other, net of accumulated amortization of $2.1 and $2.0 at March 31, 2020 and December 31, 2019, respectively	17.6		16.5
Other Assets	$	262.6	$	263.7

Right of use asset, net

The Company, as a lessee, has three office leases and four ground leases, which qualify as operating leases, with remaining lease terms of 4 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 (remainder)	$	1.1
2021	1.4
2022	1.4
2023	0.8
2024	0.5
Thereafter	32.0
Total undiscounted rental payments	37.2
Less imputed interest	(24.7		)
Total lease liabilities	$	12.5