| Schedule Of Acquired Intangible Assets Liabilities By Major Class |
In connection with our investment activity during 2016, we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): | | | | | | | | Weighted-Average Life | | Amount | Finite-Lived Intangible Assets | | | | In-place lease | 13.7 | | $ | 48,151 |
| Above-market rent | 20.0 | | 5,663 |
| | | | $ | 53,814 |
| Finite-Lived Intangible Liabilities | | | | Below-market rent | 19.3 | | $ | (5,454 | ) |
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| Schedule Of Intangible Assets and Liabilities |
Intangible assets and liabilities are summarized as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | December 31, 2015 | | Amortization Period (Years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Finite-Lived Intangible Assets | | | | | | | | | | | | | | In-place lease and tenant relationship | 1 - 53 | | $ | 620,149 |
| | $ | (181,598 | ) | | $ | 438,551 |
| | $ | 588,858 |
| | $ | (143,635 | ) | | $ | 445,223 |
| Above-market rent | 3 - 40 | | 91,895 |
| | (24,599 | ) | | 67,296 |
| | 88,288 |
| | (20,405 | ) | | 67,883 |
| Below-market ground leases | 55 - 94 | | 12,023 |
| | (508 | ) | | 11,515 |
| | 12,184 |
| | (322 | ) | | 11,862 |
| | | | 724,067 |
| | (206,705 | ) | | 517,362 |
| | 689,330 |
| | (164,362 | ) | | 524,968 |
| Indefinite-Lived Intangible Assets | | | | | | | | | | | | | | Goodwill | | | 304 |
| | — |
| | 304 |
| | 304 |
| | — |
| | 304 |
| Total intangible assets | | | $ | 724,371 |
| | $ | (206,705 | ) | | $ | 517,666 |
| | $ | 689,634 |
| | $ | (164,362 | ) | | $ | 525,272 |
| | | | | | | | | | | | | | | Finite-Lived Intangible Liabilities | | | | | | | | | | | | | | Below-market rent | 1 - 53 | | $ | (120,725 | ) | | $ | 39,025 |
| | $ | (81,700 | ) | | $ | (116,952 | ) | | $ | 21,364 |
| | $ | (95,588 | ) | Above-market ground lease | 49 - 88 | | (1,145 | ) | | 46 |
| | (1,099 | ) | | (1,145 | ) | | 32 |
| | (1,113 | ) | Total intangible liabilities | | | $ | (121,870 | ) | | $ | 39,071 |
| | $ | (82,799 | ) | | $ | (118,097 | ) | | $ | 21,396 |
| | $ | (96,701 | ) |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Based on the intangible assets and liabilities recorded at December 31, 2016, scheduled annual net amortization of intangibles for the next five calendar years and thereafter is as follows (in thousands): | | | | | | | | | | | | | | Years Ending December 31, | | Net (Increase) Decrease in Rental Income | | Increase to Amortization/Property Expenses | | Net | 2017 | | $ | (2,849 | ) | | $ | 42,808 |
| | $ | 39,959 |
| 2018 | | 466 |
| | 35,008 |
| | 35,474 |
| 2019 | | 466 |
| | 34,691 |
| | 35,157 |
| 2020 | | 458 |
| | 34,563 |
| | 35,021 |
| 2021 | | 461 |
| | 34,455 |
| | 34,916 |
| Thereafter | | (13,406 | ) | | 267,442 |
| | 254,036 |
| | | $ | (14,404 | ) | | $ | 448,967 |
| | $ | 434,563 |
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