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Amortization of Intangible Assets. To illustrate the amortization of an intangible asset, imagine XYZ Biotech spends $30 million dollars on a patent with a useful life of 15 years. Theoretically, to account for the expense over a 15-year period, XYZ Biotech records $2 million each year as an amortization expense.
( Accounting : Basic ) Amortization is a situation in which the value of intangible assets such as patents falls because of their age or how much they have been used. This figure represents operating profit before depreciation and amortization. The purpose of amortization is to reflect resale or redemption value.