Intangibles and Other Assets, net

3 Months Ended

Nov. 30, 2014

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, 2014			August 31, 2014
Intangible assets subject to amortization:
Customer relationships	$	65,023		$	65,023
Accumulated amortization		(31,150	)		(30,282	)
Other intangibles		3,610			3,699
Accumulated amortization		(3,139	)		(3,156	)
		34,344			35,284
Intangible assets not subject to amortization		912			912
Nonqualified savings plan investments		10,338			10,223
Prepaid and other assets		8,998			11,347
Debt issuance costs, net		6,992			7,602
Assets held for sale		353			389
Total intangible and other assets	$	61,937		$	65,757

Amortization expense for the three months ended November 30, 2014 and 2013 was $0.9 million and $1.7 million. Amortization expense for the years ending August 31, 2015, 2016, 2017, 2018 and 2019 is expected to be $3.7 million, $3.7 million, $3.6 million, $3.4 million and $3.4 million.