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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS Intangible assets and related amortization expense were as follows:
| December 31, 2024
($ in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trade name | $ | 48 |  |  | $ | (22) |  |  | $ | 26 |
Management contracts | 1,819 |  |  | (479) |  |  | 1,340 |
Club member relationships | 174 |  |  | (76) |  |  | 98 |
Capitalized software | 302 |  |  | (167) |  |  | 135 |
Marketing agreements | 154 |  |  | (11) |  |  | 143 |
Other contract-related intangible assets | 50 |  |  | (5) |  |  | 45 |
Total | $ | 2,547 |  |  | $ | (760) |  |  | $ | 1,787 |
| December 31, 2023
($ in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trade name | $ | 18 |  |  | $ | (18) |  |  | $ | — |
Management contracts | 1,340 |  |  | (347) |  |  | 993 |
Club member relationships | 139 |  |  | (57) |  |  | 82 |
Capitalized software | 207 |  |  | (124) |  |  | 83 |
Total | $ | 1,704 |  |  | $ | (546) |  |  | $ | 1,158 |
We acquired definite-life intangible assets as part of the Bluegreen Acquisition in the amount of $755 million as of the Bluegreen Acquisition Date. Refer to Note 3: Acquisitions for additional information. Amortization expense on intangible assets was $216 million, $163 million, and $192 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, the weighted average life on trade name was 4.6 years, management agreements was 30.3 years, club member relationships was 13.7 years, capitalized software was 2.9 years, marketing agreements was 16.1 years, and other contract-related intangible was 10.0 years. During the year ended December 31, 2022, we recognized $3 million of intangible impairment charges. No intangible impairment charges were recognized during the years ended December 31, 2024, and 2023. As of December 31, 2024, our future amortization expense for our amortizing intangible assets is estimated to be as follows:
($ in millions) | Future Amortization Expense
2025 | $ | 221 |
2026 | 195 |
2027 | 168 |
2028 | 127 |
2029 | 120 |
Thereafter | 956 |
Total | $ | 1,787 |

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