Intangibles and Other Assets, net

6 Months Ended

Feb. 28, 2017

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)	February 28, 2017			August 31, 2016
Intangible assets subject to amortization:
Customer relationships	$	64,521		$	65,023
Accumulated amortization		(38,456	)		(37,251	)
Other intangibles		4,976			6,298
Accumulated amortization		(4,078	)		(5,967	)

		26,963			28,103
Intangible assets not subject to amortization		912			912
Prepaid and other assets		13,200			14,891
Nonqualified savings plan investments		20,056			15,864
Revolving notes issuance costs, net		3,052			3,481
Assets held for sale		4,045			4,108

Total Intangible and other assets, net	$	68,228		$	67,359

Amortization expense for the three and six months ended February 28, 2017 was $0.9 million and $2.6 million and for the three and six months ended February 29, 2016 was $2.5 million and $3.8 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.