| INTANGIBLE ASSETS Intangible assets and related accumulated amortization were as follows: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | ($ in millions) | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Trade name | $ | 48 | | | $ | (30) | | | $ | 18 | | | Management contracts | 1,869 | | | (693) | | | 1,176 | | | Club member relationships | 174 | | | (104) | | | 70 | | | Capitalized software | 415 | | | (270) | | | 145 | | Marketing agreements | 154 | | | (31) | | | 123 | | Other contract-related intangible assets | 50 | | | (14) | | | 36 | | | Total | $ | 2,710 | | | $ | (1,142) | | | $ | 1,568 | | | | | | | | | December 31, 2025 | | ($ in millions) | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Trade name | $ | 48 | | | $ | (27) | | | $ | 21 | | | Management contracts | 1,869 | | | (605) | | | 1,264 | | | Club member relationships | 174 | | | (93) | | | 81 | | | Capitalized software | 349 | | | (217) | | | 132 | | Marketing agreements | 154 | | | (22) | | | 132 | | Other contract-related intangible assets | 50 | | | (10) | | | 40 | | | Total | $ | 2,644 | | | $ | (974) | | | $ | 1,670 | |
Amortization expense on intangible assets was $58 million and $52 million for the three months ended September 30, 2026 and 2025, and $168 million and $154 million for the nine months ended September 30, 2026 and 2025.
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