Goodwill and Intangible Assets

3 Months Ended

Nov. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Through multiple acquisitions, we acquired intangible assets consisting primarily of trademarks and trade names associated with specific products with finite lives, definite-lived distribution networks, patented technology, non-compete agreements, and customer relationships, which are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely.

We recorded amortization expense of $7.7 million and $6.6 million during the three months ended November 30, 2018 and 2017, respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $30.9 million in fiscal 2019, $30.9 million in fiscal 2020, $28.4 million in fiscal 2021, $26.9 million in fiscal 2022, and $25.6 million in fiscal 2023.

The changes in the carrying amount of goodwill during the three months ended November 30, 2018 and 2017 are summarized below (in millions):



	Three Months Ended
	November 30, 2018			November 30, 2017
Beginning balance	$	970.6		$	900.9
Foreign currency translation adjustments	(3.7		)	(4.4		)
Ending balance	$	966.9		$	896.5

Further discussion of goodwill and other intangible assets is included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K.