INTANGIBLE ASSETS AND LIABILITIES, NET

12 Months Ended

Dec. 31, 2020

Intangible Assets and Liabilities Disclosure [Abstract]

INTANGIBLE ASSETS AND LIABILITIES, NET

INTANGIBLE ASSETS AND LIABILITIES, NET

Our intangible assets and liabilities, net are summarized as follows:

	December 31, 2020
	Aviation Leasing		Jefferson Terminal		Total
Intangible assets
Acquired favorable lease intangibles	$	35,349	$	—	$	35,349
Less: Accumulated amortization	(29,591)		—		(29,591)
Acquired favorable lease intangibles, net	5,758		—		5,758
Customer relationships	—		35,513		35,513
Less: Accumulated amortization	—		(22,485)		(22,485)
Acquired customer relationships, net	—		13,028		13,028
Total intangible assets, net	$	5,758	$	13,028	$	18,786
Intangible liabilities
Acquired unfavorable lease intangibles	$	7,151	$	—	$	7,151
Less: Accumulated amortization	(4,604)		—		(4,604)
Acquired unfavorable lease intangibles, net	$	2,547	$	—	$	2,547

	December 31, 2019
	Aviation Leasing		Jefferson Terminal		Total
Intangible assets
Acquired favorable lease intangibles	$	49,762	$	—	$	49,762
Less: Accumulated amortization	(38,652)		—		(38,652)
Acquired favorable lease intangibles, net	11,110		—		11,110
Customer relationships	—		35,513		35,513
Less: Accumulated amortization	—		(18,931)		(18,931)
Acquired customer relationships, net	—		16,582		16,582
Total intangible assets, net	$	11,110	$	16,582	$	27,692
Intangible liabilities
Acquired unfavorable lease intangibles	$	5,170	$	—	$	5,170
Less: Accumulated amortization	(3,014)		—		(3,014)
Acquired unfavorable lease intangibles, net	$	2,156	$	—	$	2,156

Intangible liabilities relate to unfavorable lease intangibles and are included as a component of Other liabilities in the accompanying Consolidated Balance Sheets.

Amortization of intangible assets and liabilities is recorded as follows:

	Classification in Consolidated Statements of Operations	Year Ended December 31,
		2020		2019		2018
Lease intangibles	Equipment leasing revenues	$	3,747	$	7,181	$	8,588
Customer relationships:	Depreciation and amortization
Continuing operations		3,553		3,553		3,553
Discontinued operations		—		15		45
Total		$	7,300	$	10,749	$	12,186

As of December 31, 2020, estimated net annual amortization of intangibles is as follows:

2021	$	6,330
2022	4,330
2023	3,343
2024	2,236
2025	—
Thereafter	—
Total	$	16,239