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Intangible Assets and Liabilities
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Liabilities Intangible Assets and Liabilities
We have net lease intangibles that are being amortized over periods ranging from one year to 40 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. Below-market rent intangibles are included in Below-market rent intangible liabilities, net in the consolidated financial statements.

Intangible assets and liabilities are summarized as follows (in thousands):
March 31, 2024December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Finite-Lived Intangible Assets
In-place lease$341,443 $(216,236)$125,207 $353,525 $(212,456)$141,069 
Above-market rent57,483 (34,712)22,771 57,954 (32,940)25,014 
Total intangible assets$398,926 $(250,948)$147,978 $411,479 $(245,396)$166,083 
Finite-Lived Intangible Liabilities
Below-market rent$(25,042)$15,840 $(9,202)$(26,801)$16,158 $(10,643)
Total intangible liabilities$(25,042)$15,840 $(9,202)$(26,801)$16,158 $(10,643)

During the three months ended March 31, 2024, the U.S. dollar strengthened against the British pound sterling, euro, and Norwegian krone, resulting in a decrease of $0.5 million in the carrying value of our net intangible assets from December 31, 2023 to March 31, 2024.

Net amortization of intangibles, including the effect of foreign currency translation, was $11.7 million and $10.8 million for the three months ended March 31, 2024 and 2023, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Lease revenues and amortization of in-place lease intangibles is included in Depreciation and amortization.