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Intangibles
 12 Months Ended
Dec. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]  
Intangibles Intangibles

The following is a summary of the carrying amount of intangible assets and liabilities as of December 31, 2018 and 2017 (in thousands):
 
December 31, 2018
 
December 31, 2017
 
Cost
 
Accumulated
Amortization
 
Net
 
Cost
 
Accumulated
Amortization
 
Net
Assets
 

 
 

 
 

 
 

 
 

 
 

In-place leases
$
340,428

 
$
(111,500
)
 
$
228,928

 
$
343,429

 
$
(85,424
)
 
$
258,005

Above-market leases
45,568

 
(13,621
)
 
31,947

 
54,148

 
(11,968
)
 
42,180

Leasehold interest
712

 
(242
)
 
470

 
712

 
(183
)
 
529

Below-market ground lease
65,676

 
(2,194
)
 
63,482

 
60,424

 
(1,344
)
 
59,080

Total
$
452,384


$
(127,557
)

$
324,827


$
458,713


$
(98,919
)

$
359,794

Liabilities
 

 
 

 
 

 
 

 
 

 
 

Below-market lease
$
14,654

 
$
(6,768
)
 
$
7,886

 
$
14,344

 
$
(4,479
)
 
$
9,865

Above-market ground lease
5,965

 
(266
)
 
5,699

 
5,965

 
(128
)
 
5,837

Total
$
20,619


$
(7,034
)

$
13,585


$
20,309


$
(4,607
)

$
15,702


 
The following is a summary of the Company’s acquired lease intangible amortization for the years ended December 31, 2018, 2017, and 2016 (in thousands):
 
December 31,
 
2018
 
2017
 
2016
Amortization expense related to in-place leases
$
50,082

 
$
37,073

 
$
28,902

Decrease of rental income related to above-market leases
5,194

 
5,357

 
4,403

Decrease of rental income related to leasehold interests
59

 
59

 
59

Increase of rental income related to below-market leases
2,718

 
2,309

 
1,835

Decrease of operating expense related to above-market ground leases
139

 
84

 
24

Increase in operating expense related to below-market ground leases
1,013

 
810

 
471


 
For the year ended December 31, 2018, the Company wrote off in-place lease intangibles of $9.6 million, net of previously recognized accumulated amortization, which included $6.6 million related to a lease termination. In addition, the Company had amortization of $11.9 million related to assets sold during the twelve months ended December 31, 2018.

Future aggregate net amortization of the Company’s acquired lease intangibles as of December 31, 2018, is as follows (in thousands): 
 
Net Decrease in
Revenue
 
Net Increase in
Expenses
2019
$
(2,592
)
 
$
35,405

2020
(2,695
)
 
32,721

2021
(2,648
)
 
30,475

2022
(2,203
)
 
26,686

2023
(1,899
)
 
23,998

Thereafter
(12,494
)
 
137,426

Total
$
(24,531
)

$
286,711


 
For the year ended December 31, 2018, the weighted average amortization periods for asset lease intangibles and liability lease intangibles are 20 years and 21 years, respectively.