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Deferred Charges, Net
12 Months Ended
Dec. 31, 2012
Deferred Charges, Net [Abstract]  
Deferred Charges, Net

Note 10. Deferred Charges, Net

 

Deferred charges at December 31, 2012 and 2011 are net of accumulated amortization and are comprised of the following:

 

 

 

 

 

 

 

 

 

December 31,

 

 

2012

 

2011

Lease origination costs (a)

 

$          15,158,000

 

$          14,217,000

Financing costs

 

5,686,000 

 

6,224,000 

Other

 

1,650,000 

 

931,000 

 

 

$          22,494,000

 

$          21,372,000

 

 

 

 

 

(a) Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $6.3 million (cost of $17.8 million and accumulated amortization of $11.5 million) and $6.6 million (cost of $16.7 million and accumulated amortization of $10.1 million), respectively.

 

Deferred charges are amortized over the terms of the related agreements. Amortization expense related to deferred charges (including amortization of deferred financing costs included in non-operating income and expense) amounted to $8.0 million, $7.4 million and $10.8 million for 2012, 2011 and 2010, respectively. The unamortized balances of deferred lease origination costs and deferred financing costs are net of accumulated amortization of $18.5 million and $8.0 million, respectively, and will be charged to future operations as follows (lease origination costs through 2033, and financing costs through 2029):

 

 

 

 

 

 

 

 

 

 

Lease

 

 

 

 

 

origination

 

Financing

 

 

 

costs

 

costs

 

2013 

 

$     2,804,000

 

$   2,285,000

 

2014 

 

2,427,000 

 

1,795,000 

 

2015 

 

2,059,000 

 

640,000 

 

2016 

 

1,731,000 

 

276,000 

 

2017 

 

1,225,000 

 

145,000 

 

Thereafter

 

4,912,000 

 

545,000 

 

 

 

$   15,158,000

 

$   5,686,000