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Identified Intangible Assets and Liabilities
 6 Months Ended
Jun. 30, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Identified Intangible Assets and Liabilities Identified Intangible Assets and Liabilities
The following summarizes our identified intangible assets (primarily above-market leases) and liabilities (primarily below-market leases).
(Amounts in thousands)Balance as of
June 30, 2022December 31, 2021
Identified intangible assets:
Gross amount$237,777 $252,081 
Accumulated amortization(93,180)(97,186)
Total, net$144,597 $154,895 
Identified intangible liabilities (included in deferred revenue):
Gross amount$244,396 $256,065 
Accumulated amortization(204,831)(212,245)
Total, net$39,565 $43,820 
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $1,487,000 and $2,551,000 for the three months ended June 30, 2022 and 2021, respectively, and $2,404,000 and $5,717,000 for the six months ended June 30, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2023 is below:
(Amounts in thousands)Acquired below (above) market leases, net
2023$5,440 
20242,364 
2025953 
2026311 
2027(136)
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $2,417,000 and $985,000 for the three months ended June 30, 2022 and 2021, respectively, and $6,542,000 and $2,311,000 for the six months ended June 30, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2023 is below:
(Amounts in thousands)Other identified intangible assets
2023$7,948 
20247,128 
20256,077 
20265,884 
20275,449