Intangible Assets and Liabilities

In-place lease intangibles are included in In-place lease intangible assets in the condensed consolidated financial statements. Below-market ground lease intangibles (as lessee) and above-market rent intangibles are included in Right-of-use and other intangible assets in the condensed consolidated financial statements. Below-market rent intangibles and above-market ground lease intangibles (as lessee) are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements.

The following table presents a reconciliation of our goodwill, which is included in our Net Lease segment and included in Accounts receivable and other assets, net in the condensed consolidated financial statements (in thousands):



	Three Months Ended March 31, 2019
Balance at January 1, 2019	$	26,354
Foreign currency translation	13
Balance at March 31, 2019	$	26,367

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



		March 31, 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
In-place lease	5 – 23	$	250,765		$	(124,265	)	$	126,500		$	252,316		$	(120,936	)	$	131,380
Below-market ground lease ^(a)	N/A	—			—			—			21,966			(1,719		)	20,247
Above-market rent	5 – 30	10,974			(3,986		)	6,988			11,178			(3,923		)	7,255
		261,739			(128,251		)	133,488			285,460			(126,578		)	158,882
Indefinite-Lived Intangible Assets
Goodwill		26,367			—			26,367			26,354			—			26,354
Total intangible assets		$	288,106		$	(128,251	)	$	159,855		$	311,814		$	(126,578	)	$	185,236

Finite-lived Intangible Liabilities
Below-market rent	6 – 30	$	(15,212	)	$	5,902		$	(9,310	)	$	(15,309	)	$	5,651		$	(9,658	)
Above-market ground lease ^(a)	N/A	—			—			—			(105		)	6			(99		)
Total intangible liabilities		$	(15,212	)	$	5,902		$	(9,310	)	$	(15,414	)	$	5,657		$	(9,757	)

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(a)	In connection with our adoption of ASU 2016-02 (Note 2), in the first quarter of 2019, we prospectively reclassified below-market ground lease intangible assets and above-market ground lease intangible liabilities to be a component of ROU assets. These amounts are included within Right-of-use and other intangibles in our condensed consolidated balance sheets.

Net amortization of intangibles, including the effect of foreign currency translation, was $3.9 million and $5.3 million for the three months ended March 31, 2019 and 2018, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; amortization of in-place lease intangibles is included in Depreciation and amortization expense; and amortization of below-market and above-market ground lease intangibles was included in Property expenses (prior to the reclassification of above-market ground lease and below-market lease intangibles to ROU assets within Right-of-use and other intangible assets during the first quarter of 2019, as described above).