Intangible Assets and Liabilities

In-place lease intangibles are included in In-place lease intangible assets in the consolidated financial statements. Below-market ground lease intangibles and above-market rent intangibles are included in Other intangible assets in the consolidated financial statements. Below-market rent intangibles and above-market ground lease intangibles are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements.

The following table presents a reconciliation of our goodwill, which is included in our Net Lease reporting unit (in thousands):



	Three Months Ended March 31, 2018
Balance at January 1, 2018	$	26,084
Other	1,629
Foreign currency translation	1,011
Balance at March 31, 2018	$	28,724

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



		March 31, 2018									December 31, 2017
	Amortization Period (Years)	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
In-place lease	2 - 23	$	277,325		$	(120,625	)	$	156,700		$	274,723		$	(115,515	)	$	159,208
Below-market ground lease	15 - 99	23,625			(1,382		)	22,243			23,000			(1,238		)	21,762
Above-market rent	3 - 30	13,090			(4,005		)	9,085			12,811			(3,642		)	9,169
		314,040			(126,012		)	188,028			310,534			(120,395		)	190,139
Indefinite-Lived Intangible Assets
Goodwill		28,724			—			28,724			26,084			—			26,084
Total intangible assets		$	342,764		$	(126,012	)	$	216,752		$	336,618		$	(120,395	)	$	216,223

Finite-lived Intangible Liabilities
Below-market rent	4 - 30	$	(15,536	)	$	4,912		$	(10,624	)	$	(15,476	)	$	4,573		$	(10,903	)
Above-market ground lease	81	(115		)	5			(110		)	(110		)	4			(106		)
Total intangible liabilities		$	(15,651	)	$	4,917		$	(10,734	)	$	(15,586	)	$	4,577		$	(11,009	)

Net amortization of intangibles, including the effect of foreign currency translation, was $5.3 million and $8.1 million for the three months ended March 31, 2018 and 2017, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income, amortization of below-market and above-market ground lease intangibles is included in Property expenses, and amortization of in-place lease intangibles is included in Depreciation and amortization expense in the consolidated financial statements.