Intangibles and Other Assets, net

9 Months Ended

May. 31, 2015

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, 2015			August 31, 2014
Intangible assets subject to amortization:
Customer relationships	$	65,023		$	65,023
Accumulated amortization		(32,886	)		(30,282	)
Other intangibles		3,426			3,699
Accumulated amortization		(3,084	)		(3,156	)

		32,479			35,284
Intangible assets not subject to amortization		912			912
Nonqualified savings plan investments		12,666			10,223
Prepaid and other assets		12,063			11,736
Debt issuance costs, net		4,544			7,602

Total Intangible and other assets, net	$	62,664		$	65,757

Amortization expense for the three and nine months ended May 31, 2015 was $0.9 million and $2.7 million and for the three and nine months ended May 31, 2014 was $1.0 million and $3.6 million. Amortization expense for the years ending August 31, 2015, 2016, 2017, 2018 and 2019 is expected to be $3.6 million, $3.6 million, $3.6 million, $3.4 million and $3.4 million.