Location Contracts Acquired

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Location Contracts Acquired

Location Contracts Acquired

Location contract assets acquired in business acquisitions are recorded at acquisition at fair value based on an income approach. Location contracts acquired consist of the following at December 31 (in thousands):

	2020		2019
Cost	$	226,012	$	204,353
Accumulated amortization	(58,279)		(37,570)
Location contracts acquired, net	$	167,734	$	166,783

Each asset is amortized over the expected useful life of 10 years. Estimated amortization expense related to location contracts acquired for the next five years and thereafter is as follows:

Year ending December 31:
2021	$	22,620
2022	22,620
2023	22,620
2024	22,412
2025	21,486
Thereafter	55,976
Total	$	167,734

Amortization expense of location contracts acquired was $20.8 million, $16.2 million and $10.8 million, during the years ended December 31, 2020, 2019 and 2018, respectively.