Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLES, NET OF ACCUMULATED AMORTIZATION

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INTANGIBLES, NET OF ACCUMULATED AMORTIZATION
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLES, NET OF ACCUMULATED AMORTIZATION
8. INTANGIBLES, NET OF ACCUMULATED AMORTIZATION
 
The following table summarizes Newcastle’s intangible assets related to its Golf business:
 
June 30, 2015
 
December 31, 2014
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
   Trade name
$
700

 
$
(35
)
 
$
665

 
$
700

 
$
(23
)
 
$
677

   Leasehold intangibles (1)
49,962

 
(7,356
)
 
42,606

 
50,275

 
(5,206
)
 
45,069

   Management contracts
37,114

 
(6,222
)
 
30,892

 
37,650

 
(4,666
)
 
32,984

   Internally-developed software
800

 
(240
)
 
560

 
800

 
(160
)
 
640

   Membership base
5,236

 
(1,122
)
 
4,114

 
5,214

 
(748
)
 
4,466

   Nonamortizable liquor license
865

 

 
865

 
850

 

 
850

Total Intangibles
$
94,677

 
$
(14,975
)
 
$
79,702

 
$
95,489

 
$
(10,803
)
 
$
84,686

(1) The amortization expense for leasehold intangibles is reported in operating expense - golf on the consolidated statements of operations.

Intangible assets are amortized on a straight-line basis over the following estimated useful lives: 30 years for trade name; 1-26 years for leasehold intangibles and management contracts; 5 years for internally-developed software and 7 years for the membership base.