Cost of Contracts, Net

6 Months Ended

Jun. 30, 2013

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 capitalized payments made to third parties, 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, 2013			December 31, 2012
	(Unaudited)

Cost of contracts	$	26,357		$	26,599
Accumulated amortization	(13,945		)	(12,384		)
Cost of contracts, net	$	12,412		$	14,215

Amortization expense related to cost of contracts was $672 and $1,362 for the three and six months ended June 30, 2013, respectively. Amortization expense related to cost of contracts was $611 and $1,219 for the three and six months ended June 30, 2012, respectively. The weighted average useful life is 9.5 years for 2013 and 9.5 years for 2012.