Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Deferred Charges (Tables)

Deferred Charges (Tables)

12 Months Ended

Dec. 31, 2019

Deferred lease costs and other intangibles, net as of December 31, 2019 and 2018 consist of the following (in thousands):



	2019			2018
Deferred lease costs	$	85,444		$	87,590
Intangible assets:
Above market leases	46,252			49,869
Lease in place value	58,195			64,152
Tenant relationships	37,221			40,690
Other intangibles	41,531			48,639
	268,643			290,940
Accumulated amortization	(171,931		)	(174,066		)
Deferred lease costs and other intangibles, net	$	96,712		$	116,874

Schedule of Expected Amortization Expense

Estimated aggregate amortization of net above and below market leases and other intangibles for each of the five succeeding years is as follows (in thousands):



Year	Above/(Below) Market Leases, Net ⁽¹⁾		Deferred Lease Costs and Other Intangibles ⁽²⁾
2020	$	410	$	5,172
2021	299		4,611
2022	285		4,319
2023	368		3,668
2024	298		3,407
Total	$	1,660	$	21,177


(1)	These net amounts are recorded as a reduction of base rentals.

(2)

These amounts are recorded as an increase in depreciation and amortization.