Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 14: Intangible Assets

Intangible assets and related amortization expense were as follows:


($ in millions)	Weighted-average useful life (years)		September 30, 2021			December 31, 2020
Trade name		1.0	$	20		$	-
Management contracts		17.5		1,352			89
Club member relationships		10.0		146			-
Vacation ownership customer relationships		5.5		463			-
Computer software		2.3		122			94
Total gross intangible assets			$	2,103		$	183
Less: accumulated amortization				(150	)		(102	)
Intangible assets, net			$	1,953		$	81

We acquired definite-lived intangible assets as part of the Diamond Acquisition, which have been valued on a provisional basis, in the amount of $1,906 million. Refer to Note 3: Diamond Acquisition for further details. Prior to the Diamond Acquisition, intangible assets included computer software and management contracts. Amortization expense on intangible assets was $38 million for the three months ended September 30, 2021 and $48 million for the nine months ended September 30, 2021.

As of September 30, 2021 we estimated our future amortization expense for our amortizing intangible assets as follows:


($ in millions)	Intangibles
2021 (remaining)	$	57
2022		216
2023		188
2024		181
2025		174
Thereafter		1,137
Total	$	1,953