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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
Intangible assets and related amortization expense were as follows:
December 31, 2023
($ in millions)Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Trade name$18 $(18)$— 
Management contracts1,340 (347)993 
Club member relationships139 (57)82 
Capitalized software207 (124)83 
Total$1,704 $(546)$1,158 
December 31, 2022
($ in millions)Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Trade name$18 $(17)$1 
Management contracts1,340 (230)1,110 
Club member relationships139 (37)102 
Capitalized software163 (99)64 
Total$1,660 $(383)$1,277 
Amortization expense on intangible assets was $163 million, $192 million, and $90 million for the years ended December 31, 2023, 2022 and 2021, respectively. Trade name has been fully amortized as of December 31, 2023. As of December 31, 2023, the weighted average life on management agreements was 34.6 years, club member relationships was 14.4 years, and capitalized software was 3.0 years. During the year ended December 31, 2022, we recognized $3 million of intangible impairment charges. No intangible impairment charges were recognized during the years ended December 31, 2023, and 2021.
As of December 31, 2023, our future amortization expense for our amortizing intangible assets is estimated to be as follows:
($ in millions)Future Amortization Expense
2024$162 
2025138 
2026114 
202788 
202878 
Thereafter578 
Total$1,158