What does amortized cost mean?

amortized cost meaning in Law Dictionary

portion of expenses on a secured item written down as amortization or decline for a company. It reveals the collected amortization or depreciation that's been paid up to now.

amortized cost meaning in Business Dictionary

The part of the price of a secured asset that's written off as amortization or decline in a business's records, and presents built up amortization or decline to date.