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Goodwill, Deferred Leasing Costs and Other Intangibles | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill, Deferred Leasing Costs and Other Intangibles | 6. Goodwill, Deferred Leasing Costs and Other Intangibles Goodwill The following table presents changes in goodwill by reportable segment.
|  | Six Months Ended June 30,
|  | 2023 |  | 2022
(In thousands) |  | Investment Management (1) |  | Operating |  | Total |  | Investment Management (1) |  | Operating |  | Total
Beginning balance |  | $ | 298,248 |  |  | $ | 463,120 |  |  | $ | 761,368 |  |  | $ | 298,248 |  |  | $ | 463,120 |  |  | $ | 761,368 |
Business combination (Note 3) |  | 161,744 |  |  | — |  |  | 161,744 |  |  | — |  |  | — |  |  | — |
Ending balance |  | $ | 459,992 |  |  | $ | 463,120 |  |  | $ | 923,112 |  |  | $ | 298,248 |  |  | $ | 463,120 |  |  | $ | 761,368 |
__________ (1) Remaining goodwill deductible for income tax purposes was $117.1 million at June 30, 2023 and $122.4 million at December 31, 2022. Deferred Leasing Costs, Other Intangible Assets and Intangible Liabilities Deferred leasing costs and identifiable intangible assets and liabilities are as follows, excluding those related to assets and liabilities held for disposition.
| June 30, 2023 |  | December 31, 2022
(In thousands) | Carrying Amount (1)(2) |  | Accumulated Amortization(1)(2) |  | Net Carrying Amount(1) |  | Carrying Amount (1) |  | Accumulated Amortization(1) |  | Net Carrying Amount(1)
Deferred Leasing Costs and Intangible Assets |  |  |  |  |  |  |  |  |  |  |
Investment management intangibles (3) | $ | 204,121 |  |  | $ | (86,693) |  |  | $ | 117,428 |  |  | $ | 164,189 |  |  | $ | (82,432) |  |  | $ | 81,757 |
Deferred leasing costs and lease-related intangible assets (4) | 1,009,528 |  |  | (231,422) |  |  | 778,106 |  |  | 1,239,477 |  |  | (397,975) |  |  | 841,502 |
Customer relationships and service contracts (5) | 239,538 |  |  | (92,637) |  |  | 146,901 |  |  | 218,154 |  |  | (62,788) |  |  | 155,366 |
Trade names | 26,400 |  |  | (17,852) |  |  | 8,548 |  |  | 26,400 |  |  | (15,656) |  |  | 10,744 |
Other (6) | 6,818 |  |  | (4,979) |  |  | 1,839 |  |  | 6,818 |  |  | (4,020) |  |  | 2,798 |
Total deferred leasing costs and intangible assets | $ | 1,486,405 |  |  | $ | (433,583) |  |  | $ | 1,052,822 |  |  | $ | 1,655,038 |  |  | $ | (562,871) |  |  | $ | 1,092,167 |
Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |
Lease intangible liabilities (4) | $ | 42,544 |  |  | $ | (14,097) |  |  | $ | 28,447 |  |  | $ | 46,636 |  |  | $ | (16,812) |  |  | $ | 29,824 |
__________ (1) Presented net of impairments and write-offs, if any. (2) Exclude intangible assets and liabilities that were fully amortized in prior years. (3) Composed of investment management contracts and investor relationships. (4) Lease intangible assets are composed of in-place leases, above-market leases and tenant relationships. Lease-intangible liabilities are composed of below-market leases. (5) In connection with data center services provided in the colocation data center business. (6) Represents primarily the value of an acquired domain name and assembled workforce in an asset acquisition. Amortization of Intangible Assets and Liabilities The following table summarizes amortization of deferred leasing costs and finite-lived intangible assets and intangible liabilities:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Net increase (decrease) to rental income (1) |  | $ | (135) |  |  | $ | 306 |  |  | $ | 74 |  |  | $ | 175 |  |  |
Amortization expense |  |  |  |  |  |  |  |  |  |
Investment management intangibles |  | $ | 10,721 |  |  | $ | 5,055 |  |  | $ | 16,811 |  |  | $ | 10,110 |  |  |
Deferred leasing costs and lease-related intangibles |  | 34,525 |  |  | 50,400 |  |  | 67,368 |  |  | 84,107 |  |  |
Customer relationships and service contracts |  | 4,212 |  |  | 5,886 |  |  | 8,461 |  |  | 10,800 |  |  |
Trade name |  | 1,098 |  |  | 1,098 |  |  | 2,196 |  |  | 2,196 |  |  |
Other |  | 480 |  |  | 477 |  |  | 960 |  |  | 954 |  |  |
|  | $ | 51,036 |  |  | $ | 62,916 |  |  | $ | 95,796 |  |  | $ | 108,167 |  |  |
__________ (1) Represents the net effect of amortizing above- and below-market leases. The following table presents the future amortization of deferred leasing costs and finite-lived intangible assets and intangible liabilities, excluding those related to assets and liabilities held for disposition.
| Year Ending December 31, |  |
(In thousands) | Remaining 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 and thereafter |  | Total
Net increase (decrease) to rental income | $ | 239 |  |  | $ | (1,200) |  |  | $ | (1,426) |  |  | $ | (1,349) |  |  | $ | (982) |  |  | $ | 1,224 |  |  | $ | (3,494) |
Amortization expense | 78,544 |  |  | 139,296 |  |  | 121,901 |  |  | 108,053 |  |  | 95,665 |  |  | 477,422 |  |  | 1,020,881 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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