Other intangible assets

3 Months Ended

Mar. 31, 2014

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other intangible assets consist of the following as of March 31, 2014:



	Favorable lease assets	Internet sites	Trade names	Total
	$'000	$'000	$'000	$'000

Carrying amount:
Balance at January 1, 2014	8,660	1,723	7,100	17,483
Foreign currency translation adjustment	218	10	—	228

Balance at March 31, 2014	8,878	1,733	7,100	17,711

Accumulated amortization:
Balance at January 1, 2014	2,268	1,063		3,331
Charge for the period	33	35		68
Foreign currency translation adjustment	55	6		61

Balance at March 31, 2014	2,356	1,104		3,460

Net book value:
At March 31, 2014	6,522	629	7,100	14,251

At December 31, 2013	6,392	660	7,100	14,152

Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years. Internet sites are amortized over 10 years. Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred.

Total amortization expense for the three months ended March 31, 2014 was $68,000 (March 31, 2013 - $90,000). Estimated total amortization expense for the remainder of the year ending December 31, 2014 is $204,000 and for each of the years ending December 31, 2015 to December 31, 2019 is $272,000.