Intangible Assets and Above-market Leases

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Intangible Assets and Above-market Leases

Intangible Assets

The following is a summary of the Company's intangible assets.

	As of December 31, 2019							As of December 31, 2018
	Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
Site rental contracts and tenant relationships	$	2,102,864	$	(1,426,466	)	$	676,398	$	2,102,864	$	(1,312,890	)	$	789,974
Other intangible assets	12,336		(9,778		)	2,558		51,102		(32,749		)	18,353
Total	$	2,115,200	$	(1,436,244	)	$	678,956	$	2,153,966	$	(1,345,639	)	$	808,327

See "Recently Adopted Accounting Pronouncements" in note 3 for a discussion of the recently adopted lease standard, including with respect to below-market leases previously classified as intangible assets.

Amortization expense related to intangible assets is classified as follows on the Company's consolidated statement of operations:

	For Years Ended December 31,
	2019		2018		2017
Depreciation, amortization and accretion	$	113,682	$	113,655	$	113,635
Site rental costs of operations	—		1,514		1,591
Total amortization expense	$	113,682	$	115,169	$	115,226

Amortization expense of intangible assets classified as "Site rental costs of operations" on the Company's consolidated statement of operations for the years ended December 31, 2018 and 2017 represented amortization of below-market leases. Effective January 1, 2019, these below-market leases were de-recognized and reclassified from "Other intangible assets, net" to the "Operating lease right-of-use assets" on the Company's consolidated balance sheet.

For both of the years ended December 31, 2018 and 2017, the Company recorded $1.7 million as a decrease to "Site rental costs of operations" for the amortization of above-market leases for land interests under the Company's towers. Effective January 1, 2019, these above-market leases were de-recognized and reclassified from "Other long-term liabilities" into the "Operating lease right-of-use assets" on the Company's consolidated balance sheet.

See "Recently Adopted Accounting Pronouncements" in note 3 for a discussion of the recently adopted lease standard.

The estimated annual amortization expense related to intangible assets for the years ending December 31, 2020 to 2024 is as follows:

	Years Ending December 31,
	2020		2021		2022		2023		2024
Estimated annual amortization	$	113,682	$	113,682	$	113,682	$	113,682	$	77,526