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DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2022
Other Liabilities Disclosure [Abstract]  
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIESDeferred revenue and other liabilities consist of (i) the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, (ii) retainage payables for development and redevelopment projects, (iii) tenant rent payments received in advance of the month in which they are due, and (iv) lease liabilities recorded upon adoption of ASU 2016-02, Leases (Topic 842). 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.
As of December 31, 2022 and 2021, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):
December 31,
20222021
Unamortized in-place lease liabilities$188,815 $210,261 
Retainages payable and other12,110 10,796 
Tenant rents received in advance29,947 30,125 
Lease liabilities67,167 70,237 
Total$298,039 $321,419 
The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements of operations and comprehensive income and totaled $18.4 million, $6.1 million and $4.8 million for the years ended December 31, 2022, 2021 and 2020, 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):
2023$17,582 
202415,828 
202514,158 
202613,210 
202711,219 
Thereafter116,818 
Total$188,815