Cost of Contracts, Net

3 Months Ended

Mar. 31, 2013

Cost of Contracts, Net

Cost of Contracts, Net

8. 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:

	March 31, 2013			December 31, 2012
	(Unaudited)			(Restated)
Cost of contracts	$	25,879		$	26,599
Accumulated amortization	(13,005		)	(12,384		)
Cost of contracts, net	$	12,874		$	14,215

Amortization expense related to cost of contracts was $690 and $608 for the three months ended March 31, 2013 and 2012, respectively. The weighted average useful life is 9.5 years for 2013 and 2012.