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DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES | 12 Months Ended
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Dec. 31, 2021
Other Liabilities Disclosure [Abstract] |
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES | DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES Deferred revenue and other liabilities consist of the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, retainage payables for development and redevelopment projects, tenant rent payments received in advance of the month in which they are due, and lease liabilities recorded upon adoption of ASU 2016-02. The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt. At December 31, 2021 and 2020, deferred revenue, intangibles, net and other liabilities consisted of the following:
($ in thousands) | 2021 |  | 2020
Unamortized in-place lease liabilities | $ | 210,261 |  |  | $ | 45,479 |
Retainages payable and other | 10,796 |  |  | 1,943 |
Tenant rents received in advance | 30,125 |  |  | 11,716 |
Lease liabilities | 70,237 |  |  | 26,511 |
Total | $ | 321,419 |  |  | $ | 85,649 |
The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements and totaled $6.1 million, $4.8 million and $5.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. The estimated net amounts of amortization of in-place lease liabilities and the increasing effect on minimum rent for each of the next five years and thereafter is as follows:
($ in thousands) |
2022 | $ | 18,290 |
2023 | 16,668 |
2024 | 14,781 |
2025 | 12,440 |
2026 | 12,517 |
Thereafter | 135,565 |
Total | $ | 210,261 |

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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