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, 2018

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 have been

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

2018,

2017

and

2016.

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

2017,

$93.2

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

11.5

years.

The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows:

At August 31, 2018 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	33,992	$	20,990	$	13,002
Client relationships		98,882		29,387		69,495
Software technology		106,505		44,231		62,274
Non-compete agreements		4,840		2,381		2,459
Trade names		4,070		2,365		1,705
Total	$	248,289	$	99,354	$	148,935

At August 31, 2017 (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

Amortization expense recorded for intangible assets during fiscal years

2018,

2017

and

2016

was

$24.7

million,

$19.9

million and

$14.8

million, respectively. As of

August 31, 2018,

estimated intangible asset amortization expense for each of the next

five

years and thereafter are as follows:

Fiscal Year (in thousands)	Estimated Amortization Expense
2019	$	23,940
2020		23,192
2021		21,284
2022		18,718
2023		13,890
Thereafter		47,911
Total	$	148,935