Cost of Contracts, Net

12 Months Ended

Dec. 31, 2011

Cost of Contracts, Net and Goodwill [Abstract]

Cost of Contracts, Net

Note E. Cost of Contracts, net

Cost of contracts represents the cost of obtaining contractual rights associated with providing parking services at a managed or leased facility. Cost consists of either capitalized payments made to third parties or the value ascribed to contracts acquired through acquisition. Cost of contracts are amortized over the estimated life of the contracts, including anticipated renewals and terminations. Estimated lives are based on either the contract life or anticipated lives that are consistent with the underlying valuation analysis used in determining the fair value at acquisition.

The balance of cost of contracts is comprised of the following:

	December 31,
	2011			2010
Cost of contracts	$	24,203		$	23,273
Accumulated amortization		(9,917	)		(7,645	)
Cost of contracts, net	$	14,286		$	15,628

The expected future amortization of cost of contracts is as follows:

	Cost of Contract
2012	$	2,344
2013		2,237
2014		2,043
2015		1,829
2016		1,643
2017 and Thereafter		4,190
Total	$	14,286

Amortization expense related to cost of contracts was $2,275, $1,907 and $1,762 for the years ended December 31, 2011, 2010 and 2009 respectively. Amortization includes losses on cost of contracts of $0, $62, and $0 in 2011, 2010 and 2009, respectively. The weighted average useful life is 9.7 years for 2011, 9.5 years for 2010 and 9.4 years for 2009.