Corporate Property Associates 17 - Global INC | 2013 | FY | 3

(In thousands)
 
Years Ended December 31,
 
2013
 
2012
 
2011
Interest paid, net of amounts capitalized
$
84,003

 
$
68,972

 
$
46,722

Interest capitalized
$
2,481

 
$
1,719

 
$
3,543

Income taxes paid
$
2,920

 
$
1,502

 
$
401

A summary of our non-cash investing and financing activities for the periods presented is as follows (dollars in thousands):
 
Years Ended December 31,
 
2013
 
2012
 
2011
Deferred acquisition fees payable (Note 3, 4)
$
3,183

 
$
14,472

 
$
17,394

Reclassification to Real estate, at cost (Note 4)
38,945

 
142,085

 
69,368

Reclassification from Real estate, at cost (Note 4)
(9,825
)
 
(7,378
)
 
—

Reclassification to Operating real estate, at cost (Note 4)
12,557

 
—

 
—

Reclassification from Operating real estate, at cost (Note 4)
(13,166
)
 
—

 
—

Reclassification from Real estate under construction (Note 4)
(42,225
)
 
(142,085
)
 
(69,368
)
Reclassification to Net investments in direct financing leases
—

 
8,957

 
—

Reclassification to In-place lease intangible assets, net
548

 
(1,579
)
 
—

Reclassification from In-place lease intangible assets, net
—

 
—

 
—

Reclassification to Assets held for sale
13,166

 
—

 
—

Build-to-suit construction costs incurred but unpaid
—

 
—

 
1,112

Hellweg 2 purchase option (Note 6)
—

 
32,338

 
—

Conversion of note receivable to equity investment in real estate (Note 6)
2,047

 
—

 
—

Asset retirement obligations (Note 4)
1,619

 
6,842

 
9,562

Non-recourse mortgage loans assumed on acquisition (Note 11)
—

 
36,747

 
273,074

Fourth quarter distributions declared
51,570

 
46,412

 
32,288

In September 2011, we purchased substantially all of the economic and voting interests in a real estate fund, Metro, for $164.9 million, based on the exchange rate of the euro on the date of acquisition. This transaction consisted of the acquisition and assumption of certain assets and liabilities, as detailed in the table below (in thousands).
Assets Acquired at Fair Value:
 

Land
$
91,691

Buildings
262,651

Intangible assets
57,750

Liabilities Assumed at Fair Value:
 

Non-recourse debt
(222,680
)
Accounts payable, accrued expenses and other liabilities
(9,050
)
Prepaid and deferred rental income
(15,488
)
Net Assets Acquired
$
164,874

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