DEFERRED CHARGES

12 Months Ended

Dec. 31, 2013

DEFERRED CHARGES

DEFERRED CHARGES

NOTE 9 - DEFERRED CHARGES

Deferred charges at December 31, 2013 and 2012 include (in thousands):

	2013		2012
Initial franchise fees	$	5,957	$	6,201
Deferred financing costs	7,846		9,500
	13,803		15,701
Less accumulated amortization	3,533		6,806
Total	$	10,270	$	8,895

Amortization expense for 2013, 2012 and 2011 was (in thousands):

	2013		2012		2011
Initial franchise fees	$	411	$	355	$	511
Deferred financing costs	1,854		2,288		1,293
	$	2,265	$	2,643	$	1,804

Future amortization expense is expected to be (in thousands):

2014	$	1,862
2015	1,837
2016	1,573
2017	1,278
2018	812
Thereafter	2,908
	$	10,270