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IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES | 12 Months Ended
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Apr. 30, 2013
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES [Abstract] |
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES | NOTE 5 • IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES The Company's identified intangible assets and intangible liabilities at April 30, 2013 and 2012 were as follows:
| (in thousands)
| April 30, 2013 | April 30, 2012
Identified intangible assets (included in intangible assets): |  |  |  |
Gross carrying amount | $ | 68,165 | $ | 92,401
Accumulated amortization |  | (27,708) |  | (47,813)
Net carrying amount | $ | 40,457 | $ | 44,588
Indentified intangible liabilities (included in other liabilities): |  |  |  |
Gross carrying amount | $ | 391 | $ | 1,104
Accumulated amortization |  | (296) |  | (967)
Net carrying amount | $ | 95 | $ | 137
The effect of amortization of acquired below-market leases and acquired above-market leases on rental income was approximately $(29,000), $(45,000) and $(72,000) for the twelve months ended April 30, 2013, 2012 and 2011, respectively. The estimated annual amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years is as follows:
Year Ended April 30, | (in thousands)
2014 | $ | 37
2015 |  | 18
2016 |  | 14
2017 |  | 6
2018 |  | (5)
2013 Annual Report NOTE 5 • continued Amortization of all other identified intangible assets (a component of depreciation/amortization related to real estate investments) was $5.5 million, $5.5 million and $7.1 million for the twelve months ended April 30, 2013, 2012 and 2011, respectively. The estimated annual amortization of all other identified intangible assets for each of the five succeeding fiscal years is as follows:
Year Ended April 30, | (in thousands)
2014 | $ | 4,826
2015 |  | 3,815
2016 |  | 3,598
2017 |  | 3,129
2018 |  | 2,643

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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