Goodwill and Other Intangibles (Tables)

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the Company’s goodwill activity by segment during the three months ended March 31, 2016 and 2015 (in thousands):



	REI Segment			Cole Capital Segment		Consolidated
Balance as of December 31, 2015	$	1,410,631		$	245,743	$	1,656,374
Goodwill allocated to dispositions and held for sale assets ⁽¹⁾	(13,516		)	—		$	(13,516	)
Balance as of March 31, 2016	$	1,397,115		$	245,743	$	1,642,858



	REI Segment			Cole Capital Segment		Consolidated
Balance as of December 31, 2014	1,509,396			385,398		1,894,794
Goodwill allocated to dispositions and held for sale assets ⁽¹⁾	(23,680		)	—		(23,680		)
Balance as of March 31, 2015	$	1,485,716		$	385,398	$	1,871,114

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

Schedule of Intangible Assets

Intangible lease assets and liabilities of the Company consisted of the following as of March 31, 2016 and December 31, 2015(amounts in thousands, except weighted-average useful life):



	Weighted-Average Useful Life	March 31, 2016		December 31, 2015
Intangible lease assets:
In-place leases, net of accumulated amortization of $405,753 and $398,770, respectively	13.5	$	1,381,547	$	1,458,354
Leasing commissions, net of accumulated amortization of $1,137 and $1,035, respectively	9.2	6,060		4,872
Above-market leases, net of accumulated amortization of $51,944 and $47,041, respectively	16.1	299,293		308,306
Total intangible lease assets, net		$	1,686,900	$	1,771,532

Intangible lease liabilities:
Below-market leases, net of accumulated amortization of $42,629 and $38,340, respectively	17.4	$	245,093	$	251,692

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 March 31, 2016 (amounts in thousands):



	April 1, 2016 - December 31, 2016		2017		2018		2019		2020
In-place leases:
Total to be included in amortization expense	$	168,216	$	154,275	$	141,317	$	129,711	$	120,676
Leasing Commissions
Total to be included in amortization expense	$	1,341	$	682	$	496	$	425	$	407
Above-market lease assets:
Total to be deducted from rental income	$	25,672	$	25,309	$	24,756	$	22,801	$	22,334
Below-market lease liabilities:
Total to be included in rental income	$	23,115	$	20,453	$	20,126	$	19,388	$	18,196