Note 10 - Intangible Assets

9 Months Ended

May. 31, 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 May 31, 2015 was 10.4 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 May 31, 2015	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	53,257	$	29,458	$	23,799
Client relationships		27,753		17,698		10,055
Software technology		26,768		20,216		6,552
Non-compete agreements		2,807		2,314		493
Trade names		1,801		1,139		662
Total	$	112,386	$	70,825	$	41,561

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 nine months ended May 31, 2015, $9.1 million of intangible assets were acquired with a weighted average useful life of 6.3 years.

Amortization expense recorded for intangible assets was $2.3 million and $2.4 million for the three months ended May 31, 2015 and 2014, respectively. Amortization expense recorded for intangible assets was $6.4 million and $6.2 million for the nine months ended May 31, 2015 and 2014, respectively. As of May 31, 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 three months)	$	1,772
2016		6,997
2017		6,915
2018		5,788
2019		4,467
Thereafter		15,622
Total	$	41,561