Intangibles and Other Assets, net

3 Months Ended

Nov. 30, 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)	November 30, 2012			August 31, 2012
Intangible assets subject to amortization:
Customer relationships	$	66,825		$	66,825
Accumulated amortization		(24,153	)		(22,995	)
Other intangibles		5,003			4,906
Accumulated amortization		(3,933	)		(3,779	)
		43,742			44,957
Intangible assets not subject to amortization		912			912
Prepaid and other assets		10,140			10,272
Debt issuance costs, net		9,562			10,194
Nonqualified savings plan investments		6,771			6,667
Investment in unconsolidated affiliates		8,373			8,301
Investment in direct finance leases		—			65
Total intangible and other assets	$	79,500		$	81,368

Amortization expense for the three months ended November 30, 2012 and 2011 was $1.3 million and $1.2 million. Amortization expense for the years ending August 31, 2013, 2014, 2015, 2016 and 2017 is expected to be $4.2 million, $4.1 million, $4.1 million, $4.1 million and $3.9 million.