INTANGIBLE ASSETS AND LIABILITIES, NET

12 Months Ended

Dec. 31, 2021

Intangible Assets and Liabilities Disclosure [Abstract]

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