| Schedule of intangible assets |
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June 30, 2016 |
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|
December 31, 2015 |
Intangible assets |
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|
Acquisition cost (*) (***) |
|
$ |
271,547 |
|
|
$ |
271,547 |
Accumulated amortization (*) |
|
|
(127,069 |
) |
|
|
(121,090 | ) |
Total Intangible assets net book value |
|
|
144,478 |
|
|
|
150,457 |
Unfavorable lease terms |
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|
|
|
|
|
|
Acquisition cost (**) |
|
|
(24,721 |
) |
|
|
(24,721 | ) |
Accumulated amortization |
|
|
17,407 |
|
|
|
17,195 |
Write offs (**) |
|
|
7,314 |
|
|
|
— |
Unfavorable lease terms net book value |
|
|
— |
|
|
|
(7,526) |
Total Intangibles net book value |
|
$ |
144,478 |
|
|
$ |
142,931 |
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(*) |
As of June 30, 2016 and December 31, 2015, intangible assets associated with favorable lease terms included an amount of $10,575 related to purchase options for the vessels. |
(**) (***) |
As of June 30, 2016 and December 31, 2015, the intangible liability associated with the unfavorable lease terms included an amount of $0 and $(467), respectively, related to purchase options held by third parties. During the six months ended June 30, 2016, $7,314 of unfavorable lease terms were written-off. This write-off resulted from the early redelivery of one vessel (See Note 10). During the six months ended June 30, 2016, acquisition cost and accumulated amortization of $17,407, of fully amortized unfavorable lease terms were written-off. As of June 30, 2016 and December 31, 2015, no purchase options held by third parties were exercised. As of June 30, 2016, Navios Logistics, had paid $17,000, for the expansion of its dry port terminal in Uruguay. |
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