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INTANGIBLE ASSETS
 12 Months Ended
Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
We amortize intangible assets on a straight-line basis over their estimated useful lives. The estimated useful life, gross carrying amounts and accumulated amortization totals related to our identifiable intangible assets are as follows:
August 31, 2023August 31, 2022
(in thousands, except useful lives)Estimated Useful Life (years)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
ABA business process
36
$1,583,000 $65,958 $1,517,042 $1,583,000 $21,986 $1,561,014 
Client relationships
11 to 26
265,315 68,701 196,614 263,163 55,405 207,758 
Developed technology
3 to 5
109,222 45,560 63,662 80,956 33,676 47,280 
Acquired databases
15
46,000 4,600 41,400 46,000 1,533 44,467 
Software technology
2 to 10
142,395 108,702 33,693 122,363 96,567 25,796 
Data content
7 to 20
35,021 28,508 6,513 32,305 24,973 7,332 
Non-compete agreements
4
290 12 278 — — — 
Trade names
15
— — — 6,693 4,431 2,262 
Total$2,181,243 $322,041 $1,859,202 $2,134,480 $238,571 $1,895,909 
The weighted average useful life of our intangible assets at August 31, 2023 was 32.6 years. As described in Note 6, Acquisitions, we acquired several intangible assets as part of the CGS acquisition. The weighted average useful life of our intangible assets at August 31, 2023, excluding those acquired from CGS, was 8.9 years.
During fiscal 2023 and 2022, we incurred impairment charges of $7.9 million related to impairment of Developed technology and Trade names and $2.1 million related to Developed technology, respectively, which is included in Asset impairments in the Consolidated Statements of Income. We did not identify a material change to the estimated remaining useful lives of our intangible assets during fiscal 2023 and 2022. The intangible assets have no assigned residual values.
Amortization expense recorded for intangible assets was $87.3 million, $62.4 million, and $31.5 million during fiscal 2023, 2022, and 2021, respectively.
As of August 31, 2023, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows:
(in thousands)Estimated Amortization Expense
Fiscal Years Ended August 31,
2024$91,788 
202585,673 
202679,453 
202766,007 
202863,462 
Thereafter1,472,819 
Total$1,859,202