Intangibles and Other Assets, net

9 Months Ended

May 31, 2016

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, 2016			August 31, 2015
Intangible assets subject to amortization:
Customer relationships	$	65,023		$	65,023
Accumulated amortization		(36,395	)		(33,828	)
Other intangibles		6,288			3,422
Accumulated amortization		(5,757	)		(3,121	)
		29,159			31,496
Intangible assets not subject to amortization		912			912
Prepaid and other assets		15,671			13,111
Nonqualified savings plan investments		15,093			11,815
Debt issuance costs, net		6,079			3,823
Assets held for sale		4,108			4,397
Total Intangible and other assets, net	$	71,022		$	65,554

Amortization expense for the three and nine months ended May 31, 2016 was $1.5 million and $5.3 million and for the three and nine months ended May 31, 2015 was $0.9 million and $2.7 million. Amortization expense for the years ending August 31, 2016, 2017, 2018, 2019 and 2020 is expected to be $6.3 million, $3.6 million, $3.5 million, $3.4 million and $3.4 million.