useful life
Functional time remaining
Useful life is the period during which an asset remains functional and economically viable for its intended purpose.
The term appears most often in accounting and tax contexts, where useful life determines how depreciation is calculated: The equipment has a useful life of ten years.
A machine may still operate beyond its useful life but no longer justify maintenance costs.
- salvage valueAsset's worth when retired
- depreciationAsset value reduction over time
- wear and tearGradual damage from use
- run into the groundOveruse to destruction
- residual valueWorth after depreciation ends
replacement cost · aging process · amortization · book value · lifespan · optimization · maintenance schedule · fixed assets · healthspan · working order · circular economy · capital expenditure · worn · performance metrics · cost-benefit analysis · break · expiration · shelf
- IP valuationintangible assets, fair market value, licensing fees, discounted cash flow, amortization
- intangible assetsintangible assets, patent, copyright, trade secret, brand
- Asset Valuationasset value, book value, fair value, fair market value, market value
- depreciationdepreciation, straight line, straight-line, vehicle depreciation, accelerated
- emissions regulationsEPA standards, emissions testing, smog check, vehicle inspection, Clean Air Act
- investment metricsalpha, beta, risk, return, yield
useful lifeend of life
Cessation of existence
obsolescence · downtime · retirement · idle time · shelf life