Intangible Assets

12 Months Ended

Dec. 31, 2019

INTANGIBLE ASSETS [Abstract]

Intangible Assets

NOTE8– INTANGIBLE ASSETS

Intangible assets as of December31, 2019, December31, 2018 and December31, 2017 consisted of the following:

	Cost	Accumulated Amortization	NetBookValue
Favorable lease terms December31, 2017	$83,716	$(75,636)	$8,080
Additions	—	(3,748)	(3,748)
Favorable lease terms December31, 2018	$83,716	$(79,384)	$4,332
Additions	—	(1,166)	(1,166)
Favorable lease terms December31, 2019	$83,716	$(80,550)	$3,166

Amortization expense of favorable lease terms for each of the years ended December31, 2019, 2018 and 2017 is presented in the following table:

	Year Ended
	December31, 2019	December31, 2018	December31, 2017
Favorable lease terms	$(1,166)	$(3,748)	$(10,872)
Total	$(1,166)	$(3,748)	$(10,872)

The aggregate amortization of the intangibles for the 12-month periods ended December31 is estimated to be as follows:

Year	Amount
2020	1,166
2021	1,166
2022	834
Total	$3,166

Intangible assets subject to amortization are amortized using straight line method over their estimated useful lives to their estimated residual value of zero. The weighted average useful lives are 10.3years for the remaining favorable lease terms, at inception.