Other Assets

9 Months Ended

Sep. 30, 2020

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

OTHER ASSETS

OTHER ASSETS

    Other assets consist of the following: 

(Dollars in millions)	September 30, 2020		December 31, 2019
Loan purchases and originations	$	97.3	$	37.5
Straight line rent receivable	56.7		47.3
Deferred taxes	26.1		24.4
Hedge assets	24.0		32.6
Goodwill	23.9		23.9
Furniture and equipment net of accumulated depreciation of $25.3 and $21.9 at September 30, 2020 and December 31, 2019, respectively	23.6		23.7
Other, net of accumulated amortization of $2.2 and $2.0 at September 30, 2020 and December 31, 2019, respectively	17.9		16.5
Above-market leases, net of accumulated amortization of $56.1 and $51.0 at September 30, 2020 and December 31, 2019, respectively	16.6		26.1
Prepaid expenses	15.1		14.3
Right of use asset, net	12.4		13.6
Leasing commissions, net of accumulated amortization of $6.4 and $4.7 at September 30, 2020 and December 31, 2019, respectively	12.4		11.9
Marketable Securities	8.8		—
Other Assets	$	334.8	$	271.8

Loan Purchases and Originations

    The Company has various loans bearing interest at rates ranging from 2.75% to 7.95%, and maturities ranging from 2020 to 2030.

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)	$	0.4
2021	1.5
2022	1.5
2023	0.8
2024	0.5
Thereafter	33.3
Total undiscounted rental payments	38.0
Less imputed interest	(25.6)
Total lease liabilities	$	12.4