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Goodwill and Intangible Assets

3 Months Ended

Nov. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Through multiple acquisitions, we acquired definite-lived intangible assets consisting primarily of trademarks and trade names associated with specific products, 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 $9.6 million and $7.7 million during the three months ended November 30, 2019 and 2018, respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $41.3 million in fiscal 2020, $39.0 million in fiscal 2021, $38.1 million in fiscal 2022, $36.9 million in fiscal 2023, and $36.0 million in fiscal 2024.

The following table summarizes the changes in the carrying amount of goodwill during the periods presented (in millions):



	Three Months Ended
	November 30, 2019		November 30, 2018
Beginning balance	$	967.3	$	970.6
Additions from acquired businesses	147.8		—
Foreign currency translation adjustments	0.4		(3.7		)
Ending balance	$	1,115.5	$	966.9

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.