INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2015

INTANGIBLES

Schedule of amortization of intangible assets

The amortization was $7.3 million in each of the years 2015,  2014 and 2013 and will be recognized over each of the next four years as follows (thousands):

2016	$	7,324
2017		7,324
2018		7,324
2019		3,662
	$	25,634

Schedule of future amortization of below market intangibles

An amortization benefit of $3.2,  $3.2 and $2.5 million was recognized in 2015,  2014 and 2013, respectively, and the recognition of the benefit over the next two years is estimated to be as follows (thousands):

2016	$	3,125
2017		3,096
	$	6,221