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OTHER INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
OTHER INTANGIBLE ASSETS | 5. OTHER INTANGIBLE ASSETS A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of September 30, 2020 and December 31, 2019 is as follows:
|  | Assets |  | Liabilities
September 30, 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 |  | (13) |  |  | (8,911) |  |  | — |  |  | 1,638 |
|  | $ | 24 |  |  | $ | 3,224 |  |  | $ | 2,957 |  |  | $ | (730) |
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
Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. For the three and nine months ended September 30, 2020 and 2019, we recognized amortization related to our intangible assets and liabilities as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (in thousands)
Acquired above-market lease amortization |  | $ | 1 |  |  | $ | 17 |  |  | $ | 8 |  |  | $ | 59 |
Acquired in-place lease amortization |  | $ | 303 |  |  | $ | 495 |  |  | $ | 1,047 |  |  | $ | 1,636 |
Acquired below-market lease amortization |  | $ | 150 |  |  | $ | 376 |  |  | $ | 552 |  |  | $ | 1,310 |
A schedule of future amortization and accretion of acquired intangible assets and liabilities as of September 30, 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 (Three months ending December 31, 2020) |  | $ | 1 |  |  | $ | 302 |  |  | $ | (149) |
2021 |  | 5 |  |  | 899 |  |  | (347) |
2022 |  | 5 |  |  | 663 |  |  | (234) |
2023 |  | 6 |  |  | 375 |  |  | — |
2024 |  | 6 |  |  | 375 |  |  | — |
Thereafter |  | 1 |  |  | 610 |  |  | — |
|  | $ | 24 |  |  | $ | 3,224 |  |  | $ | (730) |

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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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