XML 31 R13.htm IDEA: XBRL DOCUMENT v3.19.2
Intangible Assets and Below Market Lease Liabilities
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities 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:
 
 
June 30,
2019
 
December 31,
2018
Assets:
 
 
 
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)
$
348,197

 
$
344,548

Less accumulated amortization
(152,334
)
 
(149,275
)
 
$
195,863

 
$
195,273

Liabilities (in accounts payable, accrued expenses and other liabilities):
 
 
 
Acquisition-related below market lease liabilities
$
56,355

 
$
57,955

Less accumulated amortization
(34,124
)
 
(32,307
)
 
$
22,231

 
$
25,648

 
The following table sets forth amortization of intangible assets and below market lease liabilities:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)
$
8,759

 
$
9,207

 
$
19,074

 
$
18,702

Amortization of lease incentives (in rental and other revenues)
$
460

 
$
476

 
$
3,308

 
$
905

Amortization of acquisition-related intangible assets (in rental and other revenues)
$
343

 
$
429

 
$
700

 
$
877

Amortization of acquisition-related intangible assets (in rental property and other expenses)
$
139

 
$
139

 
$
276

 
$
276

Amortization of acquisition-related below market lease liabilities (in rental and other revenues)
$
(1,763
)
 
$
(1,495
)
 
$
(3,416
)
 
$
(3,018
)

The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:
 
 
 
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)
July 1 through December 31, 2019
 
$
19,120

 
$
779

 
$
560

 
$
277

 
$
(2,885
)
2020
 
34,072

 
1,318

 
957

 
514

 
(5,005
)
2021
 
29,482

 
1,071

 
631

 

 
(4,204
)
2022
 
25,090

 
840

 
462

 

 
(3,133
)
2023
 
21,630

 
763

 
308

 

 
(2,753
)
Thereafter
 
53,368

 
3,521

 
1,100

 

 
(4,251
)
 
 
$
182,762

 
$
8,292

 
$
4,018

 
$
791

 
$
(22,231
)
Weighted average remaining amortization periods as of June 30, 2019 (in years)
 
7.2

 
9.1

 
6.5

 
1.5

 
5.4