Which of the following is excluded as an intangible asset under FASB ASC 805?

Goodwill is considered an exclusion under FASB ASC 805 because it is not recognized as a separable intangible asset that can be sold or transferred independently of the business as a whole. Instead, goodwill arises from the acquisition of a company and represents the excess of purchase price over the fair value of identifiable net assets. It reflects the company's reputation, customer loyalty, and other attributes that are not separately identifiable or quantifiable.

In contrast, patents, trademarks, and customer lists are all considered separable intangible assets under FASB ASC 805. These can be sold, licensed, or transferred, and they have identifiable legal or contractual rights. As such, while goodwill is a significant aspect of business value, it is not classified as an intangible asset in the same way as the other options mentioned. Goodwill is specifically accounted for in a different manner in the financial statements, reinforcing its exclusion from the list of identifiable intangible assets.