Accounts payable and accrued expenses  decreased $22,451,000 during 2020. A summary of the Company’s  Accounts payable and accrued expenses  follows: (1) Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company's working cash line of credit. See Note 1(p) in the Notes to Consolidated Financial Statements. Other liabilities  increased $694,000 during 2020. A summary of the Company’s  Other liabilities  follows: Additional paid-in capital  increased $95,998,000 during 2020 primarily due to the issuance of common stock under the Company's continuous common equity offering program (as discussed below under  Liquidity and Capital Resources)  and stock-based compensation (as discussed in Note 11 in the Notes to Consolidated Financial Statements). EastGroup issued 709,924 shares of common stock under its continuous common equity offering program with net proceeds to the Company of $92,663,000. During 2020,  Distributions in excess of earnings  increased $13,365,000 as a result of dividends on common stock of $121,728,000 exceeding  Net Income Attributable to EastGroup Properties, Inc. Common Stockholders of $108,363,000. Accumulated other comprehensive income (loss)  decreased $13,559,000 during 2020. The decrease resulted from the change in fair value of the Company's interest rate swaps (cash flow hedges) which are further discussed in Notes 12 and 13 in the Notes to Consolidated Financial Statements. 29 Equity December 31, 2020 2019 (In thousands) Property taxes payable $ 3,524 2,696  Development costs payable 6,427 11,766  Real estate improvements and capitalized leasing costs payable 5,692 4,636  Interest payable 6,537 6,370  Dividends payable 32,677 30,714  Book overdraft  5,176 25,771  Other payables and accrued expenses 9,540 10,071   Total  Accounts payable and accrued expenses $ 69,573 92,024  (1) December 31, 2020 2019 (In thousands) Security deposits $ 22,140 20,351  Prepaid rent and other deferred income 14,694 13,855  Operating lease liabilities — Ground leases 11,199 12,048  Operating lease liabilities — Office leases 2,167 2,141  Acquired below-market lease intangibles 9,019 8,616  Accumulated amortization of acquired below-market lease intangibles (6,168) (4,494) Acquired below-market lease intangibles, net of accumulated amortization 2,851 4,122  Interest rate swap liabilities 10,752 678  Prepaid tenant improvement reimbursements 364 56  Other liabilities 5,650 15,872   Total  Other liabilities $ 69,817 69,123 