Amortization of intangible assets except for goodwill is calculated on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use. The residual value of intangible assets is zero. However, as there are no foreseeable limits to the periods over which club memberships are expected to be available for use, this intangible asset is determined as having indefinite useful lives and not amortized.
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Descriptions |
Useful lives | |
|
Software, capitalized development cost |
5 years | |
|
Other intangible assets |
5 years or contract periods |