Quarterly report pursuant to Section 13 or 15(d)

Intangibles

v2.4.0.6
Intangibles
 3 Months Ended
Mar. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLES
INTANGIBLES
The Company has recorded an intangible lease asset, related to the PNM lease, for the fair value of the amount by which the remaining contractual lease payments exceed market lease rates at the time of acquisition. The intangible lease asset is being amortized on a straight-line basis over the life of the lease term, which expires on April 1, 2015. Amortization of the intangible lease asset is reflected in the accompanying Consolidated Statements of Income as a reduction to lease income.
Intangible Lease Asset
 
March 31, 2013
 
November 30, 2012
 
December 31, 2012
Intangible lease asset
 
$
1,094,771

 
$
1,094,771

 
$
1,094,771

Accumulated amortization
 
(510,893
)
 
(413,580
)
 
(437,908
)
Net intangible lease asset
 
$
583,878


$
681,191

 
$
656,863



Remaining Estimated Amortization On Intangibles
Year ending December 31,
 
Amount
2013
 
$
218,954

2014
 
291,939

2015
 
72,985

Total
 
$
583,878