11.

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, 2017

was

11.5

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 were

changes to the estimate of the remaining useful lives during fiscal years

2017,

2016

and

2015

. Amortizable intangible assets are tested for impairment

, if indicators are present, based on undiscounted cash flows, and, if impaired, written down to fair value based on discounted cash flows.

impairment of intangible assets has been identified during any of the periods presented. The intangible assets have

assigned residual values.

During fiscal

201

$93.2

million of intangible assets were acquired with a weighted average useful life of

11.5

years. The details of the intangible assets acquired during fiscal

2017

are outlined as follows:

Acquired Intangible Assets Allocation (in thousands)	Amortization Period (years)		Acquisition Cost

Client relationships		16.1	$	50,152
Software technology		6.3		40,826
Non-compete agreements		3.1		862
Trade name		4.0		1,354
Total		11.5	$	93,194

The gross carrying amounts and accumulated amortization totals related to the Company

’s identifiable intangible assets are as follows:

At August 31, 201 7 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Data content	$	34,116	$	18,899	$	15,217
Client relationships		99,779		22,339		77,440
Software technology		105,963		30,889		75,074
Non-compete agreements		4,833		1,518		3,315
Trade names		4,080		1,583		2,497
Total	$	248,771	$	75,228	$	173,543

At August 31, 20 16 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Data content	$	34,167	$	16,758	$	17,409
Client relationships		45,185		16,480		28,705
Software technology		62,560		20,545		42,015
Non-compete agreements		4,344		1,118		3,226
Trade names		2,728		922		1,806
Total	$	148,984	$	55,823	$	93,161

Amortization expense rec

orded for intangible assets during fiscal years

2017,

2016

and

2015

was

$19.9

million,

$14.8

million and

$8.2

million, respectively. As of

August 31, 2017,

estimated intangible asset amortization expense for each of the next

five

years and thereafter are as follows:

Fiscal Year (in thousands)	Estimated Amortization Expense

201 8	$	24,475
201 9		23,634
20 20		22,978
202 1		21,404
202 2		19,081
Thereafter		61,971
Total	$	173,543