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Textbook Life
One of many types of life concepts associated with forecasting of the service-in-use value and eventual renewal of assets.

Textbook life is the typical service life of a particular class of assets, usually expressed in terms of calendar years, indicated in publicly accessibly literature, and usually presented in one of the following forms:

The textbook life is often based on statistical averages for similar assets in standard exposure conditions and under controlled operating conditions. 

The table will typically only present a summary listing of the critical year of each asset along an probability distribution of the lives and based on one of the following life definitions:

Included below is a simple examples of textbook lives listed in an service life table that indicates the name of the asset, the typically service life and the source of data:
  • Roof, 2-ply SBS                 25 years
  • Carpets, 32 oz                   15 years
  • Water heater, gas fired        6 years

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