Goodwill and Other Intangibles (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the Company’s goodwill activity by segment during the six months ended June 30, 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⁾	(36,141		)	—		$	(36,141	)
Balance as of June 30, 2016	$	1,374,490		$	245,743	$	1,620,233



	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⁾	(47,499		)	—		(47,499		)
Balance as of June 30, 2015	$	1,461,897		$	385,398	$	1,847,295

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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 June 30, 2016 and December 31, 2015 (amounts in thousands, except weighted-average useful life):



	Weighted-Average Useful Life	June 30, 2016		December 31, 2015
Intangible lease assets:
In-place leases, net of accumulated amortization of $439,249 and $398,770, respectively	14.9	$	1,306,345	$	1,458,354
Leasing commissions, net of accumulated amortization of $1,428 and $1,035, respectively	9.2	6,647		4,872
Above-market leases, net of accumulated amortization of $58,083 and $47,041, respectively	16.7	290,854		308,306
Total intangible lease assets, net		$	1,603,846	$	1,771,532

Intangible lease liabilities:
Below-market leases, net of accumulated amortization of $47,309 and $38,340, respectively	18.1	$	237,403	$	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 June 30, 2016 (amounts in thousands):



	July 1, 2016 - December 31, 2016		2017		2018		2019		2020
In-place leases:
Total projected to be included in amortization expense	$	166,779	$	152,212	$	139,390	$	127,892	$	119,201
Leasing Commissions
Total projected to be included in amortization expense	968		971		783		709		668
Above-market lease assets:
Total projected to be deducted from rental income	25,578		25,193		24,658		22,703		22,236
Below-market lease liabilities:
Total projected to be included in rental income	25,231		20,340		20,013		19,275		18,082