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INTANGIBLES
 12 Months Ended
Dec. 31, 2019
INTANGIBLES  
INTANGIBLES INTANGIBLES

The following table summarizes the Company’s intangible assets and liabilities:
 
 
As of December 31, 2019
 
As of December 31, 2018
 
 
Gross
 
Accumulated
 
Net
 
Gross
 
Accumulated
 
Net
 
 
Asset
 
(Amortization)
 
Carrying
 
Asset
 
(Amortization)
 
Carrying
(In thousands)
 
(Liability)
 
/ Accretion
 
Amount
 
(Liability)
 
/ Accretion
 
Amount
Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite lived intangibles
 
$
25,028

 
$
—

 
$
25,028

 
$
25,028

 
$
—

 
$
25,028

Goodwill
 
1,307

 
—

 
1,307

 
1,307

 
—

 
1,307

Other intangibles
 
10,278

 
(3,338
)
 
6,940

 
10,278

 
(2,658
)
 
7,620

 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant leases:
 
 
 
 
 
 
 
 
 
 
 
 
In-place value
 
66,606

 
(12,135
)
 
54,471

 
19,966

 
(13,427
)
 
6,539

Above-market
 
2,247

 
(1,691
)
 
556

 
3,313

 
(2,269
)
 
1,044

Below-market
 
(7,008
)
 
4,912

 
(2,096
)
 
(7,326
)
 
3,140

 
(4,186
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Ground leases:
 
 
 
 
 
 
 
 
 
 
 
 
Below-market
 
—

 
—

 
—

 
23,096

 
(4,800
)
 
18,296

 
 
 
 
 
 
 
 
 
 
 
 
 
Total indefinite lived intangibles
 
 
 
 
 
$
26,335

 
 
 
 
 
$
26,335

Total amortizing intangibles
 
 
 
 
 
$
59,871

 
 
 
 
 
$
29,313



The tenant in-place, above-market and below-market lease intangible assets and the below-market ground lease intangible assets resulted from real estate acquisitions. The in‑place value and above-market value of tenant leases are included in Prepaid expenses and other assets and are amortized over periods that approximate the related lease terms. The below‑market tenant leases are included in Accounts payable and accrued expenses and are amortized over the remaining non‑cancelable terms of the respective leases. See Note 5 - Other Assets and Liabilities for additional information regarding Prepaid expenses and other assets and Accounts payable and accrued expenses. Upon adoption of the New Leases Standard as of the Adoption Date, the balances of unamortized below-market ground leases and Straight-line ground rent liability were reclassified to Operating lease right-of-use assets, net and Operating lease obligations, respectively. See Note 1 - Summary of Significant Accounting Policies for additional information regarding the Company’s adoption of the New Leases Standard.

Amortization/accretion of these intangible assets and liabilities decreased the Company’s pre-tax income, excluding the impact of noncontrolling interest and the provision for income taxes, by $2.1 million in 2019; $6.0 million in 2018 and $8.9 million in 2017.

Future amortization/accretion is estimated to decrease pre-tax income, excluding the impact of noncontrolling interest and the provision for income taxes, by $5.8 million in 2020; $5.3 million in 2021; $4.9 million in 2022; $4.5 million in 2023 and $39.4 million thereafter.