Intangibles and Other Assets, net

3 Months Ended

Nov. 30, 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)	November 30, 2016			August 31, 2016
Intangible assets subject to amortization:
Customer relationships	$	65,023		$	65,023
Accumulated amortization		(38,106	)		(37,251	)
Other intangibles		4,944			6,298
Accumulated amortization		(3,995	)		(5,967	)
		27,866			28,103
Intangible assets not subject to amortization		912			912
Prepaid and other assets		10,551			14,891
Nonqualified savings plan investments		17,161			15,864
Revolving notes issuance costs, net		3,245			3,481
Assets held for sale		4,045			4,108
Total Intangible and other assets, net	$	63,780		$	67,359

Amortization expense for the three months ended November 30, 2016 and 2015 was $1.7 million and $1.2 million. Amortization expense for the years ending August 31, 2017, 2018, 2019, 2020 and 2021 is expected to be $4.4 million, $3.8 million, $3.4 million, $3.7 million and $3.4 million.