Favorable and Unfavorable Acquired Lease Contracts, net

Favorable and unfavorable acquired 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.

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



	Favorable						Unfavorable
	December 31,						December 31,
(millions)	2016			2015			2016			2015
Acquired fair value of lease contracts	$	73.0		$	74.0		$	(82.6	)	$	(88.2	)
Accumulated (amortization) accretion	(43.0		)	(35.9		)	42.4			37.9
Total acquired fair value of lease contracts, net	$	30.0		$	38.1		$	(40.2	)	$	(50.3	)

Amortization for acquired lease contracts, net of favorable lease contracts, was $1.8 million and $0.9 million for the years ended December 31, 2016 and 2015, respectively, and is recognized as an increase to Cost of parking services - Lease contract.

For the year ended December 31, 2016, the weighted average life for favorable and unfavorable acquired lease contracts was 11.9 years and 10.5 years, respectively. For the year ended December 31, 2015, the weighted average life for favorable and unfavorable acquired lease contracts was 11.1 years and 10.1 years, respectively. For the year ended December 31, 2014, the weighted average life for favorable and unfavorable acquired lease contracts was 10.8 years and 9.8 years, respectively.

The expected future amortization (accretion) of acquired lease contracts is as follows:



(millions)	Favorable		Unfavorable			Unfavorable, Net
2017	$	6.4	$	(9.0	)	$	(2.6	)
2018	4.0		(7.3		)	(3.3		)
2019	3.6		(4.8		)	(1.2		)
2020	3.1		(3.7		)	(0.6		)
2021	2.4		(2.7		)	(0.3		)
2022 and Thereafter	10.5		(12.7		)	(2.2		)
Total	$	30.0	$	(40.2	)	$	(10.2	)