Note 9. Intangible Assets

12 Months Ended

Aug. 31, 2012

Intangible Assets Disclosure [Text Block]

9. INTANGIBLE ASSETS

FactSet’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 the Company’s acquired intangible assets at August 31, 2012 was 11.6 years.

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 discounted cash flows. No impairment of intangible assets has been identified during any of the periods presented. The 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 August 31, 2012	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	49,120	$	18,521	$	30,599
Client relationships		22,841		14,089		8,752
Software technology		20,892		18,482		2,410
Non-compete agreements		2,154		810		1,344
Trade names		758		492		266
Total	$	95,765	$	52,394	$	43,371

At August 31, 2011	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	52,438	$	16,849	$	35,589
Client relationships		21,088		12,782		8,306
Software technology		19,093		18,222		871
Non-compete agreements		1,750		437		1,313
Trade names		572		341		231
Total	$	94,941	$	48,631	$	46,310

During fiscal 2012, $6.4 million of intangible assets were acquired with a weighted average useful life of 5.5 years as a result of the acquisition of StreetAccount on June 29, 2012.

	Weighted Average Amortization Period (years)	Acquisition Cost
Client relationships	7.0	$	2,822
Software Technology	5.0		2,332
Data content	3.0		613
Non-compete agreements	4.0		404
Trade name	2.0		186
Total	5.5	$	6,357

There were no intangible assets acquired during fiscal 2011.

Amortization expense recorded for intangible assets during fiscal years 2012, 2011 and 2010 was $7.5 million, $8.4 million and $8.5 million, respectively. As of August 31, 2012, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2013		$	7,078
2014			5,974
2015			5,050
2016			3,404
2017			3,269
Thereafter			18,596
Total		$	43,371