XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.23.1

Goodwill and Other Intangible Assets | 6 Months Ended
--- | ---
Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Note 6. Goodwill, Intangible Assets and Long-Lived Assets Changes in the gross carrying value of goodwill and intangible assets result from changes in foreign currency exchange rates, business acquisitions, divestitures and impairment charges. The changes in the carrying amount of goodwill for the six months ended February 28, 2023 are as follows (in thousands):
| IT&S |  | Other |  | Total
Balance as of August 31, 2022 | $ | 246,740 |  |  | $ | 11,209 |  |  | $ | 257,949 |
Impact of changes in foreign currency rates | 4,194 |  |  | — |  |  | 4,194 |
Balance as of February 28, 2023 | $ | 250,934 |  |  | $ | 11,209 |  |  | $ | 262,143 |
The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands):
|  |  | February 28, 2023 |  | August 31, 2022
| Weighted Average Amortization Period (Years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 14 |  | $ | 136,693 |  |  | $ | 121,013 |  |  | $ | 15,680 |  |  | $ | 135,101 |  |  | $ | 117,275 |  |  | $ | 17,826 |
Patents | 11 |  | 13,838 |  |  | 13,262 |  |  | 576 |  |  | 13,708 |  |  | 13,104 |  |  | 604 |
Trademarks and tradenames | 12 |  | 3,162 |  |  | 2,410 |  |  | 752 |  |  | 3,132 |  |  | 2,329 |  |  | 803 |
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames | N/A |  | 22,708 |  |  | — |  |  | 22,708 |  |  | 22,274 |  |  | — |  |  | 22,274 |
|  |  | $ | 176,401 |  |  | $ | 136,685 |  |  | $ | 39,716 |  |  | $ | 174,215 |  |  | $ | 132,708 |  |  | $ | 41,507 |
The Company estimates that amortization expense will be $2.6 million for the remaining six months of fiscal 2023. Amortization expense for future years is estimated to be: $3.7 million in fiscal 2024, $3.0 million in fiscal 2025, $1.8 million in both fiscal 2026 and 2027, $1.6 million in fiscal 2028 and $2.5 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures, or changes in foreign currency exchange rates, among other causes. In the three months ended February 28, 2022, the Company recorded "Impairment & divestiture charges" of $1.1 million; $0.8 million related to a customer relationship intangible asset whereby the Company no longer intends to operate in the country associated with said customers and $0.3 million associated with an indefinite lived tradename intangible asset on a secondary brand whereby the Company plans to sunset its use over the remainder of the fiscal year.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration