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INTANGIBLE ASSETS AND LIABILITIES, NET | 9 Months Ended
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Sep. 30, 2022
Intangible Assets and Liabilities Disclosure [Abstract] |
INTANGIBLE ASSETS AND LIABILITIES, NET | 6. INTANGIBLE ASSETS AND LIABILITIES, NET Our intangible assets and liabilities, net are summarized as follows:
|  | September 30, 2022 |  |  | December 31, 2021 |
Intangible assets |  |  |  |  |  |
Acquired favorable lease intangibles |  | $ | 59,789 |  |  | $ | 67,013 |
Less: Accumulated amortization |  |  | (30,373 | ) |  |  | (36,051 | )
Total intangible assets, net |  | $ | 29,416 |  |  | $ | 30,962 |
Intangible liabilities |  |  |  |  |  |  |  |
Acquired unfavorable lease intangibles |  | $ | 13,114 |  |  | $ | 14,795 |
Less: Accumulated amortization |  |  | (2,216 | ) |  |  | (6,068 | )
Acquired unfavorable lease intangibles, net |  | $ | 10,898 |  |  | $ | 8,727 |
Intangible assets and liabilities are all held within the Aviation Leasing segment. Intangible liabilities relate to unfavorable lease intangibles and are included as a component of Other liabilities in the Consolidated Balance Sheets. Amortization of intangible assets and liabilities is as follows:
| Classification in Consolidated Statements of Operations |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
2022 |  |  | 2021 | 2022 |  |  | 2021
Lease intangibles | Revenues |  | $ | 3,291 |  |  | $ | 1,266 |  |  | $ | 10,259 |  |  | $ | 3,216 |
As of September 30, 2022, estimated net annual amortization of intangible assets and liabilities is as follows:
Remainder of 2022 |  |  | 3,323 |
2023 |  |  | 8,398 |
2024 |  |  | 4,848 |
2025 |  |  | 1,962 |
2026 |  |  | 519 |
Thereafter |  |  | (532 | )
Total |  | $ | 18,518 |

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