Which aspect is typically not included in the definition of value in use?

Value in use refers to the present value of the future cash flows expected to be derived from an asset, taking into consideration the operational aspects of the asset's contribution to cash generation. The calculation primarily focuses on estimating future cash inflows that the asset will generate, as well as the appropriate discount rates to apply in order to assess the time value of those cash flows.

Operating costs related to the asset are also an integral factor, as they directly affect the net cash inflows the asset is expected to produce. Therefore, both the future cash inflows and the operating costs are essential components of the value in use calculation.

Environmental impact costs, on the other hand, do not typically fall under the conventional definition of value in use because they are often considered external factors that may influence overall valuation but are not directly tied to the operational cash flows generated by the asset itself. In essence, value in use is focused on quantifiable cash flows and their time value, while aspects such as environmental costs might be part of broader assessments but are not foundational to the specific calculation of value in use.