Intangible Assets and Liabilities

Intangible assets and liabilities are summarized as follows (dollars in thousands):



		June 30, 2019							December 31, 2018
	Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Villa/condo rental programs	45 - 55	$	72,400	$	(7,272	)	$	65,128	$	72,400		$	(6,520	)	$	65,880
Below-market hotel ground leases and parking garage lease ^(a)	10 - 93	—		—			—		10,935			(645		)	10,290
Other intangible assets	8 - 15	855		(400		)	455		855			(354		)	501
Total intangible assets, net		$	73,255	$	(7,672	)	$	65,583	$	84,190		$	(7,519	)	$	76,671

Finite-Lived Intangible Liability
Above-market hotel ground lease ^(a)	85	$	—	$	—		$	—	$	(2,100	)	$	114		$	(1,986	)

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(a)

On January 1, 2019, we adopted ASU 2016-02, Leases (Topic 842) (Note 2). As a result of adopting this guidance, on January 1, 2019, we reclassified our below-market ground lease and parking garage lease intangible assets (previously included in Intangible assets, net) and above-market ground lease intangible liabilities (previously included in Accounts payable, accrued expenses and other liabilities) to Operating lease ROU assets on the consolidated balance sheet.

Net amortization of intangibles was $0.4 million for both the three months ended June 30, 2019 and 2018 and $0.8 million for both the six months ended June 30, 2019 and 2018. Amortization of the villa/condo rental programs and in-place lease intangibles are included in Depreciation and amortization in the consolidated financial statements.