Total unrecognized compensation cost which is expected to be amortized

[Table of Contents](#ie7fd49285ee64ca9b19be8c003cdb9a8_7)vest, the value of the share awards is amortized from the date of grant to the individual's Retirement Eligibility date. All new share awards granted after reaching Retirement Eligibility vest on the date of grant.The weighted average fair value of share awards granted during the nine months ended September 30, 2022 and 2021 was $161.91 per share and $105.63 per share, respectively. The total fair value of shares vested was approximately $19.4 million and $23.6 million during the nine months ended September 30, 2022 and 2021, respectively. At September 30, 2022, the unamortized value of previously issued unvested share awards was approximately $15.0 million which is expected to be amortized over the next two years. 10. Net Change in Operating AccountsThe effect of changes in the operating and other accounts on cash flows from operating activities is as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|    | Nine Months EndedSeptember 30, |
| (in thousands) | 2022 |  | 2021 |
| Change in assets: |  |  |  |
| Other assets, net | $ | (16,969) |  |  | $ | (18,233) |  |
| Change in liabilities: |  |  |  |
| Accounts payable and accrued expenses | (4,207) |  |  | 17,899  |  |
| Accrued real estate taxes | 52,560  |  |  | 19,247  |  |
| Other liabilities | (885) |  |  | 3,551  |  |
| Other | 3,120  |  |  | 2,803  |  |
| Change in operating accounts and other | $ | 33,619  |  |  | $ | 25,267  |  |

11. Commitments and ContingenciesConstruction Contracts. As of September 30, 2022, we estimated the total additional cost to complete the seven properties currently under construction to be approximately $348.4 million. We expect to fund this amount through a combination of one or more of the following: cash and cash equivalents, cash flows generated from operations, draws on our unsecured credit facility and unsecured term loan facility, the use of debt and equity offerings under our automatic shelf registration statement, proceeds from property dispositions, equity issued from our ATM programs, and other unsecured borrowings or secured mortgages.Other Commitments and Contingencies. In the ordinary course of our business, we issue letters of intent indicating a willingness to negotiate for acquisitions, dispositions, or joint ventures and also enter into arrangements contemplating various transactions. Such letters of intent and other arrangements are non-binding as to either party unless and until a definitive contract is entered into by the parties. Even if definitive contracts relating to the purchase or sale of real property are entered into, these contracts generally provide the purchaser with time to evaluate the property and conduct due diligence, during which periods the purchaser will have the ability to terminate the contracts without penalty or forfeiture of any deposit or earnest money. There can be no assurance definitive contracts will be entered into with respect to any matter covered by letters of intent or we will consummate any transaction contemplated by any definitive contract. Furthermore, due diligence periods for real property are frequently extended as needed. An acquisition or sale of real property becomes probable at the time the due diligence period expires and the definitive contract has not been terminated. We are then at risk under a real property acquisition contract, but generally only to the extent of any earnest money deposits associated with the contract, and are obligated to sell under a real property sales contract. At September 30, 2022, we had approximately $1.1 million of earnest money deposits for potential acquisitions of land which are included in other assets in our condensed consolidated balance sheet, of which approximately $0.5 million is non-refundable. Lease Commitments. Substantially all of our lessee operating leases, which are recorded within other liabilities in our condensed consolidated balance sheets, are related to office facility leases. We had no significant changes to our lessee lease commitments for the nine months ended September 30, 2022. The lease and non-lease components, excluding short-term lease contracts with a duration of 12 months or less, are accounted for as a combined single component based upon the standalone price at the time the applicable lease is commenced and is recognized as a lease expense on a straight-line basis over the lease term. Most of our office facility leases include options to renew and generally are not included in the operating lease liabilities or right-of-use assets as they are not reasonably certain of being exercised. If an option to renew is exercised, it would be considered a separate contract and recognized based upon the standalone price at the time the option to renew is exercised. Variable lease payments which values are not known at lease commencement, such as executory costs of real estate taxes, property insurance, and common area maintenance, are expensed as incurred. Rental expense totaled approximately $1.0 17
