| Schedule of intangible assets |
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June 30, 2015 |
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December 31, 2014 |
Intangible assets |
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Acquisition Cost (*) |
|
$ |
344,906 |
|
|
$ |
347,241 |
Accumulated amortization (*) |
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|
(164,457 |
) |
|
|
(157,749 | ) |
Total Intangible assets net book value |
|
|
180,449 |
|
|
|
189,492 |
Unfavorable lease terms |
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|
|
|
|
|
|
Acquisition Cost (**) |
|
|
(56,420 |
) |
|
|
(121,028 | ) |
Accumulated amortization |
|
|
35,727 |
|
|
|
98,887 |
Write offs (**) |
|
|
5,937 |
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|
- |
Unfavorable lease terms net book value |
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|
(14,756) |
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|
|
(22,141) |
Total Intangibles net book value |
|
$ |
165,693 |
|
|
$ |
167,351 |
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(*) |
As of June 30, 2015 and December 31, 2014, intangible assets associated with favorable lease terms included an amount of $21,782 related to purchase options for the vessels. During the six months ended June 30, 2015, $2,335 of favorable lease terms was written-off. |
(**) |
As of June 30, 2015, the intangible liability associated with the unfavorable lease terms included an amount of $5,567 related to current purchase options held by third parties. During the six months ended June 30, 2015, $5,937 of unfavorable lease terms was written-off. During the six months ended June 30, 2015, acquisition cost and accumulated amortization of $64,608, of fully amortized unfavorable lease terms were written off. |
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