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Lease Incentives | 6 Months Ended
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Jun. 30, 2019
Lease Incentives |
Lease Incentives |
5. | Lease Incentives
The following summarizes lease incentives by component as of June 30, 2019(in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | At June 30, 2019 | ​ | ​ | At December 31, 2018
Non-contingent lease incentives | ​ | $ | 2,652 | ​ | $ | 14,443
​ The following table summarizes our lease incentive activity for the six months ended June 30, 2019 and 2018(in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ | ​ | 2019 | ​ | 2018 | ​
​ | ​ | ​ | Funding | ​ | ​ | Amortization | ​ | ​ | Adjustment | ​ | ​ | Funding | ​ | ​ | Amortization | ​
Non-contingent lease incentives | ​ | $ | 283 | ​ | $ | (181) | ​ | $ | (11,893) | (1) | $ | 1,017 | ​ | $ | (852) | ​
Contingent lease incentives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (239) | ​
Net increase (decrease) in lease incentives | ​ | $ | 283 | ​ | $ | (181) | ​ | $ | (11,893) | ​ | $ | 1,017 | ​ | $ | (1,091) | ​
(1) | In accordance with ASC 842 lease standard adopted on January 1, 2019, we wrote-off $12,093 lease incentives related to leases for which we determined it is not probable we will collect substantially all of the contractual lease obligation through maturity. See Note 1. General for further discussion. Additionally, we reclassified a $200 interim working capital loan as lease incentive. See Note 4. Notes Receivable for further discussion.
Non-contingent lease incentives represent payments made to our lessees for various reasons including entering into a new lease or lease amendments and extensions. Contingent lease incentives represent potential contingent earn-out payments that may be made to our lessees in the future, as part of our lease agreements. From time to time, we may commit to provide contingent payments to our lessees, upon our properties achieving certain rent coverage ratios. Once the contingent payment becomes probable and estimable, the contingent payment is recorded as a lease incentive. Lease incentives are amortized as a yield adjustment to rental income over the remaining life of the lease.

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