NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 7. DEFERRED CHARGES Deferred charges as of December 31, 2003 and 2002 consists of the following (in thousands): Amortization of deferred lease costs and other intangibles for the years ended December 31, 2003, 2002 and 2001 was $2,162,000, $1,739,000 and $1,642,000, respectively. Amortization of deferred financing costs, included in interest expense in the accompanying Consolidated Statements of Operations, for the years ended December 31, 2003, 2002 and 2001 was $1,304,000, $1,209,000 and $1,277,000, respectively. 52 | 2003 ANNUAL REPORT 2003 2002 Deferred lease costs and other intangibles $ 76,191 $ 15,414 Deferred financing costs 9,027 8,412 85,218 23,826 Accumulated amortization (16,650) (13,722) $ 68,568 $ 10,104