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Goodwill And Other Intangible Assets

9 Months Ended

May 31, 2019

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		(15)			(119)			-			(134)
Balance as of May 31, 2019	$	85,434		$	8,843		$	1,210		$	95,487

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, 2019, 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):

	May 31,			August 31,
	2019			2018
Gross carrying amount	$	35,837		$	36,122
Accumulated amortization		(24,456)			(22,609)
Net carrying amount	$	11,381		$	13,513

There has been no impairment charge for the nine months ended May 31, 2019 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 nine months ended May 31, 2019 are summarized below (in thousands):

	Americas			EMEA			Asia-Pacific			Total
Balance as of August 31, 2018	$	10,644		$	2,869		$	-		$	13,513
Amortization expense		(1,682)			(374)			-			(2,056)
Translation adjustments		-			(76)			-			(76)
Balance as of May 31, 2019	$	8,962		$	2,419		$	-		$	11,381

‎

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	$	616		$	40
Fiscal year 2020		2,050			161
Fiscal year 2021		1,259			161
Fiscal year 2022		1,259			161
Fiscal year 2023		1,013			-
Thereafter		4,661			-
Total	$	10,858		$	523

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.

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- References

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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