Intangible Assets Other Than Goodwill
 6 Months Ended
Jun. 30, 2019
INTANGIBLE ASSETS OTHER THAN GOODWILL [Abstract]  
INTANGIBLE ASSETS OTHER THAN GOODWILL

NOTE 4: INTANGIBLE ASSETS OTHER THAN GOODWILL

 

 

 

 

 

 

 

 

 

 

Intangible assets

  

June 30,

2019

 

  

December 31,

2018

 

Acquisition cost (*)

  

$

209,984

 

  

$

221,554

 

Accumulated amortization (*)

  

 

(84,934

) 

  

 

(81,467

)

Write offs (**)

  

 

—   

 

  

 

(1,150

)

Total Intangible assets net book value

  

$

125,050

 

  

$

138,937

 

 

  

 

 

 

  

 

 

 

 

(*)

The decrease in cost basis includes $10,420 write off relating to Navios Logistics’ trade name which was fully amortized.

(**)

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.

 

Amortization expense for the three month periods ended June 30, 2019 and 2018 amounted to $6,752 and $1,411, respectively, and for the six month periods ended June 30, 2019 and 2018 amounted to $13,887 and $2,734, respectively.

 

The remaining aggregate amortization of acquired intangibles as of June 30, 2019 will be as follows:

 

 

 

 

 

 

Period

  

 

 

Year One

  

$

23,680

 

Year Two

  

 

5,581

 

Year Three

  

 

5,581

 

Year Four

  

 

5,581

 

Year Five

  

 

5,588

 

Thereafter

  

 

79,039

 

Total

  

$

125,050