Intangible Assets

9 Months Ended

May 31, 2011

Intangible Assets

Intangible Assets

9. INTANGIBLE ASSETS

The Company's identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company's operations. The weighted average useful life of all acquired intangible assets is 12.1 years at May 31, 2011.

The Company amortizes intangible assets over their estimated useful lives. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on either discounted cash flows or appraised values. No impairment of intangible assets has been identified during any of the periods presented. These intangible assets have no assigned residual values.

The gross carrying amounts and accumulated amortization totals related to the Company's identifiable intangible assets are as follows (in thousands):

At May 31, 2011	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	52,670	$	15,877	$	36,793
Client relationships		21,129		12,221		8,908
Software technology		19,127		17,919		1,208
Non-compete agreements		1,750		350		1,400
Trade names		571		302		269
Total	$	95,247	$	46,669	$	48,578

At August 31, 2010	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	49,278	$	11,907	$	37,371
Client relationships		20,348		9,776		10,572
Software technology		18,575		16,386		2,189
Non-compete agreements		1,813		150		1,663
Trade names		571		187		384
Total	$	90,585	$	38,406	$	52,179

There were no intangible assets acquired during fiscal 2011. The increase in the gross carrying amount of intangible assets at May 31, 2011 as compared to August 31, 2010 was due to foreign currency translations.

Amortization expense recorded for intangible assets was $2.1 million and $1.9 million for the three months ended May 31, 2011 and 2010, respectively. Amortization expense recorded for intangible assets was $6.4 million and $6.0 million for the nine months ended May 31, 2011 and 2010, respectively. As of May 31, 2011, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2011 (remaining three months)	$	2,072
2012		7,450
2013		5,931
2014		4,850
2015		4,137
Thereafter		24,138
Total	$	48,578