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INTANGIBLE ASSETS AND LIABILITIES, NET | 12 Months Ended
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Dec. 31, 2021
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, 2021
| Aviation Leasing |  | Jefferson Terminal |  | Transtar |  | Total
Intangible assets |  |  |  |  |  |  |
Acquired favorable lease intangibles | $ | 67,013 |  |  | $ | — |  |  | $ | — |  |  | $ | 67,013 |
Less: Accumulated amortization | (36,051) |  |  | — |  |  | — |  |  | (36,051) |
Acquired favorable lease intangibles, net | 30,962 |  |  | — |  |  | — |  |  | 30,962 |
Customer relationships | — |  |  | 35,513 |  |  | 60,000 |  |  | 95,513 |
Less: Accumulated amortization | — |  |  | (26,038) |  |  | (1,738) |  |  | (27,776) |
Acquired customer relationships, net | — |  |  | 9,475 |  |  | 58,262 |  |  | 67,737 |
Total intangible assets, net | $ | 30,962 |  |  | $ | 9,475 |  |  | $ | 58,262 |  |  | $ | 98,699 |
Intangible liabilities |  |  |  |  |  |  |
Acquired unfavorable lease intangibles | $ | 14,795 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,795 |
Less: Accumulated amortization | (6,068) |  |  | — |  |  | — |  |  | (6,068) |
Acquired unfavorable lease intangibles, net | $ | 8,727 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,727 |
| December 31, 2020
| Aviation Leasing |  | Jefferson Terminal |  | Transtar |  | 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 |
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,
|  | 2021 |  | 2020 |  | 2019
Lease intangibles | Equipment leasing revenues |  | $ | 4,993 |  |  | $ | 3,747 |  |  | $ | 7,181 |
Customer relationships: | Depreciation and amortization |  |  |  |  |  |
Continuing operations |  |  | 5,292 |  |  | 3,553 |  |  | 3,553 |
Discontinued operations |  |  | — |  |  | — |  |  | 15 |
Total |  |  | $ | 10,285 |  |  | $ | 7,300 |  |  | $ | 10,749 |
As of December 31, 2021, estimated net annual amortization of intangibles is as follows:
2022 | $ | 17,242 |
2023 | 14,585 |
2024 | 10,490 |
2025 | 5,782 |
2026 | 4,389 |
Thereafter | 37,484 |
Total | $ | 89,972 |

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