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Acquired Intangible Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2022
Acquired Intangible Assets and Liabilities  
Summary of Acquired Intangible Assets and Liabilities

Balance as of

September 30, 2022

December 31, 2021

(Amounts in thousands)

Gross Carrying Amount

Accumulated Amortization

Net Carrying Amount

Gross Carrying Amount

Accumulated Amortization

Net Carrying Amount

Customer relationship value

$

3,168,834

$

(821,923)

$

2,346,911

$

2,838,842

$

(721,983)

$

2,116,859

Acquired in-place lease value

1,355,693

(1,018,282)

337,411

1,278,012

(995,883)

282,129

Other

120,099

(21,373)

98,726

101,869

(14,688)

87,181

Acquired above-market leases

261,807

(249,492)

12,315

268,724

$

(247,135)

21,589

Acquired below-market leases

(341,978)

250,638

(91,340)

(351,052)

247,877

(103,175)

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets

(Amounts in thousands)

Customer relationship value

Acquired in-place lease value

Other (1)

Acquired above-market leases

Acquired below-market leases

Remainder of 2022

$

58,376

$

15,403

$

2,662

$

1,937

$

(3,253)

2023

 

232,629

 

57,553

 

4,946

 

4,758

 

(12,395)

2024

 

232,049

 

52,087

 

3,690

 

2,584

 

(11,102)

2025

 

231,547

 

49,109

 

3,653

 

1,452

 

(10,117)

2026

 

231,112

 

45,103

 

3,470

 

684

 

(8,615)

Thereafter

 

1,361,198

 

118,156

 

41,101

 

900

 

(45,858)

Total

$

2,346,911

$

337,411

$

59,522

$

12,315

$

(91,340)

(1)Excludes power grid rights in the amount of approximately $39.2 million that are currently not being amortized. Amortization of these assets will begin once the data centers associated with the power grid rights are placed into service.