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Other Assets
12 Months Ended
Dec. 31, 2012
Other Assets

5.    Other Assets

Other assets consist of the following (in thousands):

 

     December 31,  
     2012      2011  

Intangible assets:

     

In-place leases (including lease origination costs and fair market value of leases), net

   $ 67,105      $ 24,798  

Tenant relations, net

     62,175        22,772  
  

 

 

    

 

 

 

Total intangible assets, net

     129,280        47,570  

Other assets:

     

Prepaid expenses

     12,469        10,375  

Deposits

     10,580        6,788  

Other assets(A)

     29,821        2,893  
  

 

 

    

 

 

 

Total other assets

   $ 182,150      $ 67,626  
  

 

 

    

 

 

 

 

(A) Includes deferred tax asset (Note 16).

The Company recorded amortization expense related to its intangible assets, excluding the fair market value of leases, of $17.5 million, $8.2 million and $6.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. The estimated future amortization expense associated with the Company’s intangible assets, excluding the fair market value of leases, is $24.8 million, $19.5 million, $15.3 million, $12.6 million and $9.6 million for the years ending December 31, 2013, 2014, 2015, 2016 and 2017, respectively.

During 2012, the Company identified an error in the consolidated financial statements related to prior years. The error was attributable to a purchase price allocation of an asset acquired in 2004 and related amortization of the intangible asset. The Company concluded that the adjustment was not material to the results for the year ended December 31, 2012, or any prior periods. Consequently, the Company recorded an out-of-period adjustment to increase Net Loss attributable to DDR by $1.5 million in 2012. The Company also decreased land and increased other assets by $4.4 million on the consolidated balance sheet.