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Intangible Asset, Net - Related Party
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset, Net - Related Party INTANGIBLE ASSET, NET—RELATED PARTY
The intangible asset relates to the contract value of the incentive compensation provisions of the A&R DMA with the Great Park Venture. The intangible asset will be amortized over the expected contract period based on the pattern in which the economic benefits are expected to be received.
The carrying amount and accumulated amortization of the intangible asset as of June 30, 2022 and December 31, 2021 were as follows (in thousands):
June 30, 2022December 31, 2021
Gross carrying amount$129,705 $129,705 
Accumulated amortization(78,300)(78,300)
Net book value$51,405 $51,405 
Intangible asset amortization expense, as a result of revenue recognition attributable to incentive compensation, was $2.7 million and $10.6 million for the three and six months ended June 30, 2021, respectively. No amortization expense was recognized during the three and six months ended June 30, 2022 as no incentive compensation revenue was recognized during the period. Amortization expense is included in the cost of management services in the accompanying condensed consolidated statements of operations and is included in the Great Park segment.