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OTHER INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
OTHER INTANGIBLE ASSETS | OTHER INTANGIBLE ASSETS A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of June 30, 2019 and December 31, 2018 is as follows:
|  | Assets |  | Liabilities
June 30, 2019 |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Trade Name and License |  | Acquired Below-Market Leases
|  | (in thousands)
Gross balance |  | $ | 146 |  |  | $ | 14,054 |  |  | $ | 2,957 |  |  | $ | (4,757 | )
Accumulated amortization |  | (93 | ) |  | (8,812 | ) |  | — |  |  | 2,819 |
|  | $ | 53 |  |  | $ | 5,242 |  |  | $ | 2,957 |  |  | $ | (1,938 | )
Average useful life (in years) |  | 3 |  |  | 8 |  |  | Indefinite |  |  | 3 |
|  | Assets |  | Liabilities
December 31, 2018 |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Trade Name and License |  | Acquired Below-Market Leases
|  | (in thousands)
Gross balance |  | $ | 146 |  |  | $ | 16,210 |  |  | $ | 2,957 |  |  | $ | (6,618 | )
Accumulated amortization |  | (51 | ) |  | (9,731 | ) |  | — |  |  | 3,746 |
|  | $ | 95 |  |  | $ | 6,479 |  |  | $ | 2,957 |  |  | $ | (2,872 | )
Average useful life (in years) |  | 3 |  |  | 8 |  |  | Indefinite |  |  | 4 |
The amortization of the acquired above-market leases, which decreased rental and other property income, was $21,000 and $14,000 for the three months ended June 30, 2019 and 2018, respectively, and $42,000 and $26,000 for the six months ended June 30, 2019 and 2018, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $540,000 and $930,000 for the three months ended June 30, 2019 and 2018, respectively, and $1,141,000 and $1,842,000 for the six months ended June 30, 2019 and 2018, respectively. The amortization of the acquired below-market leases included in rental and other property income was $421,000 and $520,000 for the three months ended June 30, 2019 and 2018, respectively, and $934,000 and $1,233,000 for the six months ended June 30, 2019 and 2018, respectively. A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of June 30, 2019, is as follows:
|  | Assets |  | Liabilities
Years Ending December 31, |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Acquired Below-Market Leases
|  | (in thousands)
2019 (Six months ending December 31, 2019) |  | $ | 21 |  |  | $ | 971 |  |  | $ | (656 | )
2020 |  | 9 |  |  | 1,349 |  |  | (701 | )
2021 |  | 5 |  |  | 899 |  |  | (347 | )
2022 |  | 5 |  |  | 663 |  |  | (234 | )
2023 |  | 6 |  |  | 375 |  |  | — |
Thereafter |  | 7 |  |  | 985 |  |  | — |
|  | $ | 53 |  |  | $ | 5,242 |  |  | $ | (1,938 | )

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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