A generalized version of Holmstedt's formula for the K-functional

Let $(A_0, A_1)$ be a compatible couple of quasi-normed spaces, and let $\Phi_0$ and $\Phi_1$ be two general parameters of $K$-interpolation method. We compute $K$-functional for the couple $((A_0,A_1)_{\Phi_0}, (A_0, A_1)_{\Phi_1})$ in terms of $K$-functional for the couple $(A_0, A_1)$.