The term capital assets is defined as costs incurred to acquire items that will be used in operations for the benefit of multiple periods. Examples of capital assets include land, improvements to land, easements, buildings, building improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in operations that have initial useful lives extending beyond a single reporting period.
The term infrastructure is defined as long-lived capital assets that normally are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. Examples of infrastructure include roads, bridges, tunnels, drainage systems, water and sewer systems, dams, and lighting systems.
The term intangible assets is a nonfinancial asset that lacks physical substance and with an initial useful life that extends beyond a single reporting period. Examples of intangible assets include easements, water rights, timber rights, patents, trademarks, and purchased or internally generated computer software.