Cost of Contracts, Net

9 Months Ended

Sep. 30, 2013

Cost of Contracts, Net

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 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:

	September 30, 2013			December 31, 2012
	(Unaudited)
Cost of contracts	$	26,456		$	26,599
Accumulated amortization	(14,620		)	(12,384		)
Cost of contracts, net	$	11,836		$	14,215

Amortization expense related to cost of contracts was $143 and $1,505 for the three and nine months ended September 30, 2013, respectively. Amortization expense related to cost of contracts was $609 and $1,828 for the three and nine months ended September 30, 2012, respectively. The weighted average useful life is 9.5 years for 2013 and 9.7 years for 2012.