XML 56 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Intangible Assets and Below Market Lease Liabilities (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Total Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

 
December 31,
 
2017
 
2016
Assets:
 
 
 
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)
$
344,191

 
$
353,581

Less accumulated amortization
(143,512
)
 
(140,081
)
 
$
200,679

 
$
213,500

 
 
 
 
Liabilities (in accounts payable, accrued expenses and other liabilities):
 
 
 
Acquisition-related below market lease liabilities
$
59,947

 
$
61,221

Less accumulated amortization
(28,214
)
 
(23,074
)
 
$
31,733

 
$
38,147


Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth amortization of intangible assets and below market lease liabilities:

 
Year Ended December 31,
 
2017
 
2016
 
2015
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)
$
41,187

 
$
44,968

 
$
43,332

Amortization of lease incentives (in rental and other revenues)
$
1,765

 
$
1,779

 
$
1,493

Amortization of acquisition-related intangible assets (in rental and other revenues)
$
2,921

 
$
3,851

 
$
5,062

Amortization of acquisition-related intangible assets (in rental property and other expenses)
$
557

 
$
557

 
$
557

Amortization of acquisition-related below market lease liabilities (in rental and other revenues)
$
(6,415
)
 
$
(8,183
)
 
$
(7,065
)

Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Years Ending December 31,
 
Amortization
of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)
 
Amortization
of Lease Incentives (in Rental and Other Revenues)
 
Amortization
of Acquisition-Related Intangible Assets (in Rental and Other Revenues)
 
Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)
 
Amortization
of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
2018
 
$
36,566

 
$
1,586

 
$
1,659

 
$
553

 
$
(5,911
)
2019
 
31,032

 
1,434

 
1,275

 
553

 
(5,454
)
2020
 
26,614

 
1,171

 
959

 
518

 
(5,193
)
2021
 
22,262

 
948

 
632

 

 
(4,383
)
2022
 
18,098

 
734

 
462

 

 
(3,269
)
Thereafter
 
48,182

 
4,033

 
1,408

 

 
(7,523
)
 
 
$
182,754

 
$
9,906

 
$
6,395

 
$
1,624

 
$
(31,733
)
Weighted average remaining amortization periods as of December 31, 2017 (in years)
 
7.6

 
9.9

 
6.5

 
3.0

 
6.6