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OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2020
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 March 31, 2020 and December 31, 2019 is as follows:
|  | Assets |  | Liabilities
March 31, 2020 |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Trade Name and License |  | Acquired Below-Market Leases
|  | (in thousands)
Gross balance |  | $ | 37 |  |  | $ | 12,135 |  |  | $ | 2,957 |  |  | $ | (2,368 | )
Accumulated amortization |  | (11 | ) |  | (8,305 | ) |  | — |  |  | 1,340 |
|  | $ | 26 |  |  | $ | 3,830 |  |  | $ | 2,957 |  |  | $ | (1,028 | )
Average useful life (in years) |  | 7 |  |  | 9 |  |  | Indefinite |  |  | 4 |
|  | Assets |  | Liabilities
December 31, 2019 |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Trade Name and License |  | Acquired Below-Market Leases
|  | (in thousands)
Gross balance |  | $ | 74 |  |  | $ | 13,653 |  |  | $ | 2,957 |  |  | $ | (3,521 | )
Accumulated amortization |  | (42 | ) |  | (9,382 | ) |  | — |  |  | 2,239 |
|  | $ | 32 |  |  | $ | 4,271 |  |  | $ | 2,957 |  |  | $ | (1,282 | )
Average useful life (in years) |  | 5 |  |  | 8 |  |  | Indefinite |  |  | 4 |
The amortization of the acquired above-market leases, which decreased rental and other property income, was $6,000 and $21,000 for the three months ended March 31, 2020 and 2019, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $441,000 and $601,000 for the three months ended March 31, 2020 and 2019, respectively. The amortization of the acquired below-market leases included in rental and other property income was $254,000 and $513,000 for the three months ended March 31, 2020 and 2019, respectively. A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of March 31, 2020, is as follows:
|  | Assets |  | Liabilities
Years Ending December 31, |  | Acquired Above-Market Leases |  | Acquired In-Place Leases |  | Acquired Below-Market Leases
|  | (in thousands)
2020 (Nine months ending December 31, 2020) |  | $ | 3 |  |  | $ | 908 |  |  | $ | (447 | )
2021 |  | 5 |  |  | 899 |  |  | (347 | )
2022 |  | 5 |  |  | 663 |  |  | (234 | )
2023 |  | 6 |  |  | 375 |  |  | — |
2024 |  | 6 |  |  | 375 |  |  | — |
Thereafter |  | 1 |  |  | 610 |  |  | — |
|  | $ | 26 |  |  | $ | 3,830 |  |  | $ | (1,028 | )

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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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