| INTANGIBLE ASSETS Intangible assets and related accumulated amortization were as follows: | | | | | | | | | | | | | | | | | | | June 30, 2026 | | ($ in millions) | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Trade name | $ | 48 | | | $ | (29) | | | $ | 19 | | | Management contracts | 1,869 | | | (664) | | | 1,205 | | | Club member relationships | 174 | | | (100) | | | 74 | | | Capitalized software | 381 | | | (251) | | | 130 | | Marketing agreements | 154 | | | (28) | | | 126 | | Other contract-related intangible assets | 50 | | | (12) | | | 38 | | | Total | $ | 2,676 | | | $ | (1,084) | | | $ | 1,592 | | | | | | | | | 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 $55 million and $52 million for the three months ended June 30, 2026 and 2025, and $110 million and $102 million for the six months ended June 30, 2026 and 2025.
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