Note 10 - Intangible Assets

6 Months Ended

Feb. 28, 2015

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

10. INTANGIBLE ASSETS

FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of FactSet’s acquired identifiable intangible assets at February 28, 2015 was 10.5 years. The Company amortizes intangible assets over their estimated useful lives, which are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. There have been no changes to the estimate of the remaining useful lives during fiscal 2015. If indicators of impairment appear to exist, 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 February 28, 2015	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	53,039	$	28,482	$	24,557
Client relationships		27,861		17,383		10,478
Software technology		26,877		19,912		6,965
Trade names		1,809		1,072		737
Non-compete agreements		2,732		2,156		576
Total	$	112,318	$	69,005	$	43,313

At August 31, 2014	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	56,974	$	27,644	$	29,330
Client relationships		25,821		17,443		8,378
Software technology		22,881		20,089		2,792
Non-compete agreements		2,465		1,881		584
Trade names		1,729		958		771
Total	$	109,870	$	68,015	$	41,855

During the second quarter of fiscal 2015, $8.2 million of intangible assets were acquired with a weighted average useful life of 6.3 years due to the acquisition of Code Red on February 6, 2015.

Amortization expense recorded for intangible assets was $2.0 million and $2.2 million for the three months ended February 28, 2015 and 2014, respectively. Amortization expense recorded for intangible assets was $4.1 million and $3.9 million for the six months ended February 28, 2015 and 2014, respectively. As of February 28, 2015, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2015 (remaining six months)	$	4,023
2016		6,895
2017		6,813
2018		5,688
2019		4,376
Thereafter		15,518
Total	$	43,313