Goodwill and Intangible Assets

9 Months Ended

Aug. 31, 2011

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

The gross carrying value, accumulated amortization and net carrying value of the major classes of intangible assets relating to the Motorsports Event segment are as follows (in thousands):

	November 30, 2010
	Gross  Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Food, beverage and merchandise contracts	$	10	$	7	$	3
Total amortized intangible assets		10		7		3
Non-amortized intangible assets:
NASCAR—sanction agreements		177,813		—		177,813
Other		793		—		793
Total non-amortized intangible assets		178,606		—		178,606
Total intangible assets	$	178,616	$	7	$	178,609

	August 31, 2011
	Gross  Carrying Amount		Accumulated Amortization		Net  Carrying Amount
Amortized intangible assets:
Food, beverage and merchandise contracts	$	10	$	7	$	3
Other		108		4		104
Total amortized intangible assets		118		11		107
Non-amortized intangible assets:
NASCAR—sanction agreements		177,813		—		177,813
Other		793		—		793
Total non-amortized intangible assets		178,606		—		178,606
Total intangible assets	$	178,724	$	11	$	178,713

The following table presents current and expected amortization expense of the existing intangible assets as of August 31, 2011 for each of the following periods (in thousands):

Amortization expense for the nine months ended August 31, 2011	$	4
Estimated amortization expense for the year ending November 30:
2011	$	16
2012		42
2013		26
2014		20
2015		6

There were no changes in the carrying value of goodwill during the three and nine months ended August 31, 2011.