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Goodwill And Other Intangible Assets
3 Months Ended
Nov. 30, 2018
Goodwill And Other Intangible Assets [Abstract]  
Goodwill And Other Intangible Assets



Note 5.  Goodwill and Other Intangible Assets



Goodwill



The following table summarizes the changes in the carrying amounts of goodwill by segment (in thousands):





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Americas

 

EMEA

 

Asia-Pacific

 

Total

Balance as of August 31, 2018

$

85,449 

 

$

8,962 

 

$

1,210 

 

$

95,621 

Translation adjustments

 

(8)

 

 

(66)

 

 

 -

 

 

(74)

Balance as of November 30, 2018

$

85,441 

 

$

8,896 

 

$

1,210 

 

$

95,547 



 

 

 

 

 

 

 

 

 

 

 

There were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its goodwill subsequent to February 28, 2018, the date of its most recent annual goodwill impairment test. To date, there have been no impairment losses identified and recorded related to the Company’s goodwill.



Definite-lived Intangible Assets



The Company’s definite-lived intangible assets, which include the 2000 Flushes, Spot Shot, Carpet Fresh, 1001, EZ REACH and GT85 trade names, the Belgium customer list, the GT85 customer relationships and the GT85 technology are included in other intangible assets, net in the Company’s condensed consolidated balance sheets. The following table summarizes the definite-lived intangible assets and the related accumulated amortization (in thousands):





 

 

 

 

 



 

 

 

 

 



November 30,

 

August 31,



2018

 

2018

Gross carrying amount

$

35,964 

 

$

36,122 

Accumulated amortization

 

(23,229)

 

 

(22,609)

Net carrying amount

$

12,735 

 

$

13,513 



 

 

 

 

 

There has been no impairment charge for the three months ended November 30, 2018 and there were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its existing definite-lived intangible assets.



Changes in the carrying amounts of definite-lived intangible assets by segment for the three months ended November 30, 2018 are summarized below (in thousands):





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Americas

 

EMEA

 

Asia-Pacific

 

Total

Balance as of August 31, 2018

$

10,644 

 

$

2,869 

 

$

 -

 

$

13,513 

Amortization expense

 

(561)

 

 

(172)

 

 

 -

 

 

(733)

Translation adjustments

 

 

 

 

(45)

 

 

 -

 

 

(45)

Balance as of November 30, 2018

$

10,083 

 

$

2,652 

 

$

 -

 

$

12,735 



 

 

 

 

 

 

 

 

 

 

 



The estimated amortization expense for the Company’s definite-lived intangible assets in future fiscal years is as follows (in thousands):



 

 

 

 

 



 

 

 

 

 



Trade Names

 

Customer-Based

Remainder of fiscal year 2019

$

1,840 

 

$

138 

Fiscal year 2020

 

2,052 

 

 

163 

Fiscal year 2021

 

1,262 

 

 

163 

Fiscal year 2022

 

1,262 

 

 

163 

Fiscal year 2023

 

1,016 

 

 

 -

Thereafter

 

4,676 

 

 

 -

Total

$

12,108 

 

$

627 



 

 

 

 

 

Included in the total estimated future amortization expense is the amortization expense for the 1001 trade name and the GT85 intangible assets, which are based on current foreign currency exchange rates, and as a result amounts in future periods may differ from those presented due to fluctuations in those rates.