Intangibles and Other Assets, net

9 Months Ended

May 31, 2012

Intangibles and Other Assets, net

Note 3 – Intangibles and Other Assets, net

Intangible assets that are determined to have finite lives are amortized over their useful lives. Intangible assets with indefinite useful lives are not amortized and are periodically evaluated for impairment.

The following table summarizes the Company’s identifiable intangible and other assets balance:

(In thousands)	May 31, 2012			August 31, 2011
Intangible assets subject to amortization:
Customer relationships	$	66,825		$	66,825
Accumulated amortization		(20,960	)		(17,854	)
Other intangibles		4,808			5,185
Accumulated amortization		(3,629	)		(3,475	)
		47,044			50,681
Intangible assets not subject to amortization		912			912
Prepaid and other assets		10,260			8,692
Debt issuance costs, net		10,822			12,516
Nonqualified savings plan investments		6,700			6,326
Investment in unconsolidated affiliates		8,266			5,769
Contract placement fee		610			2,259
Investment in direct finance leases		79			113
Total intangible and other assets	$	84,693		$	87,268

Amortization expense for the three and nine months ended May 31, 2012 was $1.1 million and $3.4 million and for the three and nine months ended May 31, 2011 was $1.2 million and $3.6 million. Amortization expense for the years ending August 31, 2012, 2013, 2014, 2015 and 2016 is expected to be $4.6 million, $4.4 million, $4.3 million, $4.3 million and $4.3 million.