Cost of Contracts, Net

6 Months Ended

Jun. 30, 2011

Cost of Contracts, Net [Abstract]

Cost of Contracts, Net

7. Cost of Contracts, Net

Cost of contracts represents the contractual rights associated with providing parking services at a managed or leased facility. Cost consists of either capitalized payments made to third parties or the value ascribed to contracts acquired through acquisition. Cost of contracts is amortized over the estimated life of the contracts, including anticipated renewals and terminations.

The balance of cost of contracts is comprised of the following:

	June 30, 2011			December 31, 2010
	(Unaudited)
Cost of contracts	$	23,545		$	23,273
Accumulated amortization		(8,782	)		(7,645	)
Cost of contracts, net	$	14,763		$	15,628

Amortization expense related to cost of contracts was $570 and $1,137 for the three and six months ended June 30, 2011, respectively, and $450 and $806 for the three and six months ended June 30, 2010 respectively. The weighted average useful life is 9.5 years for 2011 and 2010.