Other Assets and Deferred Charges, Net

12 Months Ended

Dec. 31, 2022

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

Note 7. Other Assets and Deferred Charges, Net

Other assets and deferred charges, net, at December 31, 2022 and 2021 are composed of the following:


	December 31,
	2022		2021
Lease origination costs (a)	$	4,747,000	$	4,710,000
Right-of-use assets		2,062,000		9,861,000
Prepaid expenses		1,029,000		7,255,000
Investments related to share-based compensation		—		955,000
Unsecured revolving credit facility financing costs		—		1,134,000
Leasehold improvements, furniture and fixtures		—		50,000
Other		86,000		(188,000	)
Total other assets and deferred charges, net	$	7,924,000	$	23,777,000

(a)

Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $0.1 million (cost of $1.8 million and accumulated amortization of $1.7 million) and $0.1 million (cost of $3.1 million and accumulated amortization of $3.0 million) as of December 31, 2022 and 2021, respectively.

Deferred charges are amortized over the terms of the related agreements. Amortization expense related to deferred charges (including amortization of deferred financing costs included in non-operating income and expense), net of discontinued operations, amounted to $7.2 million, $2.4 million and $2.6 million for 2022, 2021, and 2020, respectively. The unamortized balances of deferred lease origination costs is net of accumulated amortization of $10.6 million at December 31, 2022. Deferred lease origination costs will be charged to future operations as follows:


	Lease
	origination
	costs
2023	$	759,000
2024		766,000
2025		666,000
2026		596,000
2027		545,000
Thereafter		1,415,000
	$	4,747,000