Deferred Charges and Other Assets, net:

Deferred charges and other assets, net at December 31, 2014 and 2013 consist of the following:



	2014			2013
Leasing	$	239,955		$	223,038
Financing	47,171			51,695
Intangible assets:
In-place lease values(1)	298,825			205,651
Leasing commissions and legal costs(1)	72,432			50,594
Above-market leases	250,810			118,770
Deferred tax assets	35,625			31,356
Deferred compensation plan assets	35,194			30,932
Other assets	66,246			65,793
	1,046,258			777,829
Less accumulated amortization(2)	(287,197		)	(244,771		)
	$	759,061		$	533,058

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(1)	The estimated amortization of these intangible assets for the next five years and thereafter is as follows:



Year Ending December 31,
2015	$	64,711
2016	45,990
2017	31,906
2018	25,760
2019	21,682
Thereafter	77,847
	$	267,896


(2)	Accumulated amortization includes $103,361 and $89,141 relating to in-place lease values, leasing commissions and legal costs at December 31, 2014 and 2013, respectively. Amortization expense for in-place lease values, leasing commissions and legal costs was $52,668, $53,139 and $32,456 for the years ended December 31, 2014, 2013 and 2012, respectively.

The allocated values of above-market leases and below-market leases consist of the following:



	2014			2013
Above-Market Leases
Original allocated value	$	250,810		$	118,770
Less accumulated amortization	(59,696		)	(46,912		)
	$	191,114		$	71,858
Below-Market Leases(1)
Original allocated value	$	375,033		$	187,537
Less accumulated amortization	(93,511		)	(79,271		)
	$	281,522		$	108,266

_______________________________


(1)	Below‑market leases are included in other accrued liabilities.

The allocated values of above and below-market leases will be amortized into minimum rents on a straight-line basis over the individual remaining lease terms. The estimated amortization of these values for the next five years and thereafter is as follows:



Year Ending December 31,	Above Market		Below Market
2015	$	26,591	$	37,808
2016	23,516		35,647
2017	19,413		29,931
2018	16,024		26,354
2019	13,210		23,595
Thereafter	92,360		128,187
	$	191,114	$	281,522