Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 12: Intangible Assets

Intangible assets and related accumulated amortization were as follows:

	March 31, 2022
($ in millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name	$	18	$	(8	)	$	10
Management contracts		1,340		(137	)		1,203
Club member relationships		139		(18	)		121
Capitalized software		144		(78	)		66
	$	1,641	$	(241	)	$	1,400
	December 31, 2021
($ in millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name	$	18	$	(5	)	$	13
Management contracts		1,340		(106	)		1,234
Club member relationships		139		(12	)		127
Capitalized software		138		(71	)		67
	$	1,635	$	(194	)	$	1,441

We acquired definite-lived intangible assets as part of the Diamond Acquisition, which have been valued in the amount of $1,431 million as of the Acquisition Date. Refer to Note 3: Diamond Acquisition for further details. Amortization expense on intangible assets was $48 million and $4 million for the three months ended March 31, 2022 and March 31, 2021, respectively.