Note G. Favorable and Unfavorable Acquired Lease Contracts

Favorable and unfavorable lease contracts represent the acquired fair value of lease contracts in connection with the Central Merger. Favorable and unfavorable acquired lease contracts are being amortized over the contract term, including anticipated renewals and terminations and has a weighted average life of 10.1 and 8.9 years, respectively.

The following presents a summary of favorable and unfavorable lease contracts:

	Favorable						(Unfavorable)

	December 31,						December 31,
	2013			2012			2013			2012
Acquired fair value of lease contracts	$	77,621		$	80,235		$	(92,093	)	$	(98,290	)
Accumulated (amortization) accretion		(17,587	)		(5,522	)		17,963			6,065


Total acquired fair value of lease contracts, net		60,034			74,713			(74,130	)		(92,225	)

Amortization for lease contracts, net of unfavorable lease contracts was $4,298 and $609 for the years ended December 31, 2013 and 2012, respectively, and is a reduction to cost of parking services-lease contract. There is no amortization for lease contracts included in cost of parking services for lease contracts for the year ended December 31, 2011.

The expected future amortization (accretion) of lease contract rights is as follows:

	Favorable		(Unfavorable)			Favorable (Unfavorable) Net

2014	$	11,739	$	(12,301	)	$	(562	)
2015		9,649		(11,061	)		(1,412	)
2016		8,559		(10,312	)		(1,753	)
2017		6,506		(9,117	)		(2,611	)
2018		4,059		(7,394	)		(3,335	)
2019 and Thereafter		19,522		(23,945	)		(4,423	)


Total	$	60,034	$	(74,130	)	$	(14,096	)