| Schedule of intangible assets |
Net Book Value of Intangible Assets other than Goodwill as at December 31, 2018 | | Acquisition Cost | | | Accumulated Amortization | | | Transfer/ Write off | | | Net Book Value December 31, 2018 | | Trade name | | $ | 100,420 | | | $ | (47,966) | | | $ | — | | | $ | 52,454 | | Port terminal operating rights | | | 53,152 | | | | (11,838) | | | | — | | | | 41,314 | | Customer relationships | | | 35,490 | | | | (19,520) | | | | — | | | | 15,970 | | Favorable lease terms(*) | | | 32,492 | | | | (2,143) | | | | (1,150) | | | | 29,199 | | Total Intangible assets | | $ | 221,554 | | | $ | (81,467) | | | $ | (1,150) | | | $ | 138,937 | |
Net Book Value of Intangible Assets other than Goodwill as at December 31, 2017 | | Acquisition Cost | | | Accumulated Amortization | | | Write off | | | Net Book Value December 31, 2017 | | Trade name | | $ | 100,420 | | | $ | (45,156 | ) | | $ | — | | | $ | 55,264 | | Port terminal operating rights | | | 53,152 | | | | (10,889 | ) | | | — | | | | 42,263 | | Customer relationships | | | 35,490 | | | | (17,745 | ) | | | — | | | | 17,745 | | Favorable lease terms(*) | | | 11,548 | | | | — | | | | (10,398 | ) | | | 1,150 | | Total Intangible assets | | $ | 200,610 | | | $ | (73,790 | ) | | $ | (10,398 | ) | | $ | 116,422 | | | | | | | | | | | | | | | | | | |
(*) | During the year ended December 31, 2018, acquisition costs of $1,150 of favorable lease terms were capitalized as part of the cost of one vessel due to the exercise of the purchase option (See also Note 2(n)). As of December 31, 2018, intangible assets associated with the favorable lease terms included an amount of $31,342 associated with the favorable lease terms of certain charter out contracts of Navios Containers which were recognized as of November 30, 2018 (see Note 3). As of December 31, 2017, intangible assets associated with the favorable lease terms included an amount of $1,150 related to purchase option for a vessel. During the year ended December 31, 2017, acquisition costs of $10,398 and accumulated amortization of $7,001 of favorable lease terms were considered impaired and were written off resulting in a loss of $3,397 included in the statement of comprehensive (loss)/income within the caption of “Impairment losses”. |
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| Amortization expense |
| | | | | | | | | | | | | | | Amortization Expense and Write Offs Year Ended December 31, 2018 | | | Amortization Expense and Write Offs Year Ended December 31, 2017 | | | Amortization Expense and Write Offs Year Ended December 31, 2016 | | Trade name | | $ | 2,811 | | | $ | 3,853 | | | $ | 3,902 | | Port terminal operating rights | | | 950 | | | | 727 | | | | 706 | | Customer relationships | | | 1,774 | | | | 1,775 | | | | 1,775 | | Favorable lease terms | | | 2,143 | | | | 4,038 | | | | 17,260 | | Unfavorable lease terms | | | — | | | | — | | | | (7,526 | ) | Total | | $ | 7,678 | | | $ | 10,393 | | | $ | 16,117 | | | | | | | | | | | | | | |
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| Schedule of aggregate amortization expense |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Description | | Within one year | | | Year Two | | | Year Three | | | Year Four | | | Year Five | | | Thereafter | | | Total | | Trade name | | $ | 2,811 | | | $ | 2,818 | | | $ | 2,811 | | | $ | 2,811 | | | $ | 2,811 | | | $ | 38,392 | | | $ | 52,454 | | Port terminal operating rights | | | 995 | | | | 995 | | | | 995 | | | | 995 | | | | 995 | | | | 36,339 | | | | 41,314 | | Customer relationships | | | 1,775 | | | | 1,775 | | | | 1,775 | | | | 1,775 | | | | 1,775 | | | | 7,095 | | | | 15,970 | | Favorable lease terms | | | 21,923 | | | | 7,276 | | | | — | | | | — | | | | — | | | | — | | | | 29,199 | | Total amortization | | $ | 27,504 | | | $ | 12,864 | | | $ | 5,581 | | | $ | 5,581 | | | $ | 5,581 | | | $ | 81,826 | | | $ | 138,937 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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