FUNCTIONAL DEPRECIATION
\fˈʌŋkʃənə͡l dɪpɹˌiːʃɪˈe͡ɪʃən], \fˈʌŋkʃənəl dɪpɹˌiːʃɪˈeɪʃən], \f_ˈʌ_ŋ_k_ʃ_ə_n_əl d_ɪ_p_ɹ_ˌiː_ʃ_ɪ__ˈeɪ_ʃ_ə_n]\
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Reduced productivity of a capital asset due to obsolescence. Decreased capability and throughput of an asset.
By Henry Campbell Black