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Identified Intangible Assets and Liabilities
12 Months Ended
Dec. 31, 2015
Identified Intangible Assets and Liabilities [Abstract]  
Identified Intangible Assets and Liabilities

8. Identified Intangible Assets and Liabilities

The following summarizes our identified intangible assets (primarily acquired above-market leases) and liabilities (primarily acquired below-market leases) as of December 31, 2015 and 2014.

 

 (Amounts in thousands) Balance as of December 31, 
  2015 2014 
 Identified intangible assets:      
 Gross amount$ 415,261 $ 424,976 
 Accumulated amortization  (187,360)   (199,821) 
 Net$ 227,901 $ 225,155 
 Identified intangible liabilities (included in deferred revenue):      
 Gross amount$ 643,488 $ 657,976 
 Accumulated amortization  (325,340)   (329,775) 
 Net$ 318,148 $ 328,201 

Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental income of $78,749,000, $37,516,000 and $41,970,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2016 is as follows:

 (Amounts in thousands)   
 2016$ 52,359 
 2017  44,501 
 2018  43,028 
 2019  31,011 
 2020  23,320 

Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $36,659,000, $28,275,000 and $61,915,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Estimated annual amortization of all other identified intangible assets including acquired in-place leases, customer relationships, and third party contracts for each of the five succeeding years commencing January 1, 2016 is as follows:

 (Amounts in thousands)   
 2016$ 29,349 
 2017  24,427 
 2018  20,063 
 2019  15,779 
 2020  12,345 

We are a tenant under ground leases at certain properties. Amortization of these acquired below-market leases, net of above-market leases, resulted in an increase to rent expense of $1,832,000, $1,832,000, and $2,745,000 for the years ended December 31, 2015, 2014 and 2013. Estimated annual amortization of these below-market leases, net of above-market leases, for each of the five succeeding years commencing January 1, 2016 is as follows:

 

 (Amounts in thousands)   
 2016$ 1,832 
 2017  1,832 
 2018  1,832 
 2019  1,832 
 2020  1,832