Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the Company’s goodwill activity by segment from January 1, 2013 to December 31, 2015 (in thousands):



	REI Segment			Cole Capital Segment			Consolidated
Balance as of January 1, 2013	$	—		$	—		$	—
CapLease Merger	92,789			—			92,789
Balance as of December 31, 2013	92,789			—			92,789
Cole Merger	1,654,085			558,835			2,212,920
Measurement period adjustments	(27,339		)	49,627			22,288
Goodwill allocated to dispositions ⁽¹⁾	(210,139		)	—			(210,139		)
Impairment	—			(223,064		)	(223,064		)
Balance as of December 31, 2014	1,509,396			385,398			1,894,794
Goodwill allocated to dispositions and held for sale assets ⁽¹⁾	(98,765		)	—			(98,765		)
Impairment	—			(139,655		)	(139,655		)
Balance as of December 31, 2015	$	1,410,631		$	245,743		$	1,656,374

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(1)	Included in loss on disposition of real estate, net, in the consolidated statements of operations.

Schedule of Intangible Assets

Intangible lease assets and liabilities of the Company consisted of the following as of December 31, 2015 and 2014 (amounts in thousands, except weighted-average useful life):



	Weighted-Average Useful Life	December 31, 2015		December 31, 2014
Intangible lease assets:
In-place leases, net of accumulated amortization of $398,770 and $236,096, respectively	13.6	$	1,458,354	$	1,816,508
Leasing commissions, net of accumulated amortization of $1,035 and $505, respectively	9.1	4,872		4,205
Above-market leases, net of accumulated amortization of $47,041 and $22,471, respectively	16.0	308,306		355,269
Total intangible lease assets, net		$	1,771,532	$	2,175,982

Intangible lease liabilities:
Below-market leases, net of accumulated amortization of $38,340 and $19,123, respectively	16.8	$	251,692	$	317,838

Schedule of Projected Amortization Expense and Adjustments

The following table provides the projected amortization expense and adjustments to rental income related to the intangible lease assets and liabilities for the next five years as of December 31, 2015 (amounts in thousands):



	2016		2017		2018		2019		2020
In-place leases:
Total to be included in amortization expense	$	172,641	$	157,734	$	144,024	$	132,307	$	122,660
Leasing Commissions
Total to be included in amortization expense	$	720	$	693	$	506	$	434	$	413
Above-market lease assets:
Total to be deducted from rental income	$	25,901	$	25,559	$	24,999	$	23,037	$	22,557
Below-market lease liabilities:
Total to be included in rental income	$	21,304	$	21,140	$	20,804	$	19,971	$	18,661