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Goodwill and Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2018
Goodwill And Intangible Assets Liabilities Disclosure [Abstract]  
Amortizable Asset and Liabilities Acquired
Net lease intangibles recorded in connection with property acquisitions during 2018 are described in Note 5. In connection with the CPA:17 Merger (Note 3), we recorded net lease intangibles comprised as follows (life in years, dollars in thousands):
 
Weighted-Average Life
 
Amount
Amortizable Intangible Assets
 
 
 
In-place lease
11.2
 
$
770,863

Above-market rent
12.2
 
298,180

Below-market ground lease
57.1
 
22,600

 
 
 
$
1,091,643

 
 
 
 
Amortizable Intangible Liabilities
 
 
 
Below-market rent
25.1
 
$
(109,894
)
Above-market ground lease
76.0
 
(2,827
)
 
 
 
$
(112,721
)
Schedule Of Goodwill
The following table presents a reconciliation of our goodwill (in thousands):
 
Real Estate
 
Investment Management
 
Total
Balance at January 1, 2016
$
618,202

 
$
63,607

 
$
681,809

Allocation of goodwill to the cost basis of properties sold or classified as held for sale (a)
(34,405
)
 
—

 
(34,405
)
Impairment charges (Note 9)
(10,191
)
 
—

 
(10,191
)
Foreign currency translation adjustments
(1,293
)
 
—

 
(1,293
)
Balance at December 31, 2016
572,313

 
63,607

 
635,920

Foreign currency translation adjustments
8,040

 
—

 
8,040

Balance at December 31, 2017
580,353

 
63,607

 
643,960

Acquisition of CPA:17 – Global (Note 3)
280,306

 
—

 
280,306

Foreign currency translation adjustments
(3,322
)
 
—

 
(3,322
)
Balance at December 31, 2018
$
857,337

 
$
63,607

 
$
920,944

__________
(a)
Following our adoption of ASU 2017-01 on January 1, 2017, goodwill that was previously allocated to businesses that were sold or held for sale will no longer be allocated and written off upon sale if future sales are deemed to be sales of assets and not businesses (Note 2).
Schedule Of Intangible Assets And Goodwill
Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands):
 
December 31,
 
2018
 
2017
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Finite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
Internal-use software development costs
$
18,924

 
$
(10,672
)
 
$
8,252

 
$
18,649

 
$
(7,862
)
 
$
10,787

Trade name
3,975

 
(1,196
)
 
2,779

 
3,975

 
(401
)
 
3,574

 
22,899

 
(11,868
)
 
11,031

 
22,624

 
(8,263
)
 
14,361

Lease Intangibles:
 
 
 
 
 
 
 
 
 
 
 
In-place lease
1,960,437

 
(496,096
)
 
1,464,341

 
1,194,055

 
(421,686
)
 
772,369

Above-market rent
925,797

 
(330,935
)
 
594,862

 
640,480

 
(276,110
)
 
364,370

Below-market ground lease
42,889

 
(2,367
)
 
40,522

 
18,936

 
(1,855
)
 
17,081

 
2,929,123

 
(829,398
)
 
2,099,725

 
1,853,471

 
(699,651
)
 
1,153,820

Indefinite-Lived Goodwill and Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill
920,944

 
—

 
920,944

 
643,960

 
—

 
643,960

Below-market ground lease
6,302

 
—

 
6,302

 
985

 
—

 
985

 
927,246

 
—

 
927,246

 
644,945

 
—

 
644,945

Total intangible assets
$
3,879,268

 
$
(841,266
)
 
$
3,038,002

 
$
2,521,040

 
$
(707,914
)
 
$
1,813,126

 
 
 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
$
(253,633
)
 
$
57,514

 
$
(196,119
)
 
$
(135,704
)
 
$
48,657

 
$
(87,047
)
Above-market ground lease
(15,961
)
 
3,663

 
(12,298
)
 
(13,245
)
 
3,046

 
(10,199
)
 
(269,594
)
 
61,177

 
(208,417
)
 
(148,949
)
 
51,703

 
(97,246
)
Indefinite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market purchase option
(16,711
)
 
—

 
(16,711
)
 
(16,711
)
 
—

 
(16,711
)
Total intangible liabilities
$
(286,305
)
 
$
61,177

 
$
(225,128
)
 
$
(165,660
)
 
$
51,703

 
$
(113,957
)
Schedule Of Finite Lived Intangible Assets Future Amortization Expense
Based on the intangible assets and liabilities recorded at December 31, 2018, scheduled annual net amortization of intangibles for each of the next five calendar years and thereafter is as follows (in thousands):
Years Ending December 31,
 
Net Decrease in
Lease Revenues
 
Increase to Amortization/
Property Expenses
 
Total
2019
 
$
63,680

 
$
196,279

 
$
259,959

2020
 
55,994

 
167,700

 
223,694

2021
 
52,260

 
152,891

 
205,151

2022
 
46,238

 
139,693

 
185,931

2023
 
41,531

 
128,314

 
169,845

Thereafter
 
139,040

 
718,719

 
857,759

Total
 
$
398,743

 
$
1,503,596

 
$
1,902,339