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Goodwill and Other Intangibles
 6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Liabilities Disclosure [Abstract]  
Goodwill and Other Intangibles Goodwill and Other Intangibles

We have recorded net lease, internal-use software development, and trade name intangibles that are being amortized over periods ranging from three years to 48 years. In-place lease intangibles, at cost are included in In-place lease intangible assets and other in the consolidated financial statements. Above-market rent intangibles, at cost are included in Above-market rent intangible assets in the consolidated financial statements. Accumulated amortization of in-place lease and above-market rent intangibles is included in Accumulated depreciation and amortization in the consolidated financial statements. Internal-use software development and trade name intangibles are included in Other assets, net in the consolidated financial statements. Below-market rent and below-market purchase option intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements.

The following table presents a reconciliation of our goodwill (in thousands):
 
Real Estate
 
Investment Management
 
Total
Balance at December 31, 2019
$
871,081

 
$
63,607

 
$
934,688

Foreign currency translation adjustments
(1,573
)
 
—

 
(1,573
)
Allocation of goodwill based on portion of Investment Management business sold (Note 3)
—

 
(34,273
)
 
(34,273
)
Balance at June 30, 2020
$
869,508

 
$
29,334

 
$
898,842



Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands):
 
June 30, 2020
 
December 31, 2019
 
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
$
19,671

 
$
(14,964
)
 
$
4,707

 
$
19,582

 
$
(13,491
)
 
$
6,091

Trade name
3,975

 
(2,389
)
 
1,586

 
3,975

 
(1,991
)
 
1,984

 
23,646

 
(17,353
)
 
6,293

 
23,557

 
(15,482
)
 
8,075

Lease Intangibles:
 
 
 
 
 
 
 
 
 
 
 
In-place lease
2,085,753

 
(752,487
)
 
1,333,266

 
2,072,642

 
(676,008
)
 
1,396,634

Above-market rent
896,051

 
(420,002
)
 
476,049

 
909,139

 
(398,294
)
 
510,845

 
2,981,804

 
(1,172,489
)
 
1,809,315

 
2,981,781

 
(1,074,302
)
 
1,907,479

Indefinite-Lived Goodwill
 
 
 
 
 
 
 
 
 
 
 
Goodwill
898,842

 
—

 
898,842

 
934,688

 
—

 
934,688

Total intangible assets
$
3,904,292

 
$
(1,189,842
)
 
$
2,714,450

 
$
3,940,026

 
$
(1,089,784
)
 
$
2,850,242

 
 
 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
$
(266,809
)
 
$
86,297

 
$
(180,512
)
 
$
(268,515
)
 
$
74,484

 
$
(194,031
)
Indefinite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market purchase option
(16,711
)
 
—

 
(16,711
)
 
(16,711
)
 
—

 
(16,711
)
Total intangible liabilities
$
(283,520
)
 
$
86,297

 
$
(197,223
)
 
$
(285,226
)
 
$
74,484

 
$
(210,742
)


During the six months ended June 30, 2020, the U.S. dollar strengthened against the euro, resulting in a decrease of $10.1 million in the carrying value of our net intangible assets from December 31, 2019 to June 30, 2020. Net amortization of intangibles, including the effect of foreign currency translation, was $56.8 million and $70.1 million for the three months ended June 30, 2020 and 2019, respectively, and $117.3 million and $139.5 million for the six months ended June 30, 2020 and 2019, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Lease revenues and amortization of internal-use software development, trade name, and in-place lease intangibles is included in Depreciation and amortization.