Other Liabilities, Net

12 Months Ended

Dec. 31, 2021

9. Other Liabilities, Net

The following is a summary of other liabilities, net:


	December 31,
	2021		2020

	(In thousands)
Lease intangible liabilities	$	32,893	$	33,256
Accumulated amortization		(24,621)		(22,956)
Lease intangible liabilities, net		8,272		10,300
Lease assumption liabilities		5,399		10,126
Lease incentive liabilities		21,163		13,913
Liabilities related to operating lease right-of-use assets		6,910		10,752
Liabilities related to finance lease right-of-use assets⁽¹⁾		162,510		40,221
Prepaid rent		19,852		19,809
Security deposits		18,188		13,654
Environmental liabilities		18,168		18,242
Deferred tax liability, net		5,340		2,509
Dividends payable		32,603		34,075
Derivative agreements, at fair value		18,361		44,222
Deferred purchase price ⁽²⁾		19,691		19,479
Other		6,108		10,472
Total other liabilities, net	$	342,565	$	247,774

(1)

Includes $121.6 million as of December 31, 2021 related to the amendment of the ground lease for Courthouse Plaza 1 and 2, which was executed in December 2021. The amendment extended the expiration date of the lease from January 2062 to December 2119, and resulted in a change in its classification from an operating lease to a finance lease.

(2)	Deferred purchase price associated with the acquisition of the former Americana Hotel site. See Note 3 for additional information.

Amortization expense included in "Property rental revenue" in our consolidated statements of operations related to lease intangible liabilities for each of the three years in the period ended December 31, 2021 was $2.2 million, $2.0 million and $2.5 million.

The following is a summary of the estimated amortization of lease intangible liabilities for the next five years and thereafter as of December 31, 2021:


Year ending December 31,	Amount
	(In thousands)
2022	$	1,769
2023		1,761
2024		1,743
2025		1,179
2026		319
Thereafter		1,501
Total	$	8,272