Note 9 - Goodwill

3 Months Ended

Nov. 30, 2013

Disclosure Text Block Supplement [Abstract]

Goodwill Disclosure [Text Block]

9. GOODWILL

Changes in the carrying amount of goodwill by segment for the three months ended November 30, 2013 are as follows (in thousands):

	U.S.		Europe		Asia Pacific			Total
Balance at August 31, 2013	$	167,822	$	73,424	$	3,327		$	244,573
Goodwill acquired during the period		11,173		-		-			11,173
Foreign currency translations		-		3,737		(138	)		3,599
Balance at November 30, 2013	$	178,995	$	77,161	$	3,189		$	259,345

During the first quarter of fiscal 2014, $11.2 million of goodwill was acquired as a result of the purchase of the assets of Revere on September 1, 2013 for a total purchase price of $15.3 million.

Goodwill is not amortized as it has an estimated indefinite life. At least annually, the Company evaluates goodwill at the reporting unit level for potential impairment. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. The Company has three reporting units, which are consistent with the operating segments reported because there is no discrete financial information available for the subsidiaries within each operating segment. The Company’s reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflects the level of internal reporting the Company uses to manage its business and operations. The Company performed an annual goodwill impairment test during the fourth quarter of fiscal years 2013 and 2012, which determined that there were no reporting units that were deemed at risk. The fair value of each of the Company’s reporting units significantly exceeded carrying value, thus there had been no impairment.