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Goodwill And Other Intangible Assets | 12 Months Ended
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Aug. 31, 2013
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | I. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The carrying amount of goodwill by reportable segment for the year ended August 31, 201 3 and 20 12 is as follows:
$ in thousands |  | Irrigation |  | Infrastructure |  | Total
Balance as of August 31, 2011 |  | $ | 13,682 |  | $ | 17,261 |  | $ | 30,943
Foreign currency translation |  |  | (206) |  |  | (776) |  |  | (982)
Balance as of August 31, 2012 |  |  | 13,476 |  |  | 16,485 |  |  | 29,961
Acquisition of CLC |  |  | 7,257 |  |  | - |  |  | 7,257
Foreign currency translation |  |  | (66) |  |  | 262 |  |  | 196
Balance as of August 31, 2013 |  | $ | 20,667 |  | $ | 16,747 |  | $ | 37,414
Other Intangible Assets The components of the Company’s identifiable intangible assets at August 31, 201 3 and 20 12 are included in the table below.
|  | August 31,
|  | 2013 |  | 2012
|  | Weighted |  | Gross |  |  |  | Weighted |  | Gross |  |
|  | Average |  | Carrying |  | Accumulated |  | Average |  | Carrying |  | Accumulated
$ in thousands |  | Years |  | Amount |  | Amortization |  | Years |  | Amount |  | Amortization
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 12.8 |  | $ | 30,266 |  | $ | (12,364) |  | 12.7 |  | $ | 25,637 |  | $ | (10,458)
Customer relationships |  | 7.4 |  |  | 8,034 |  |  | (4,238) |  | 8.4 |  |  | 6,313 |  |  | (3,477)
Non-compete agreements |  | 5.6 |  |  | 1,331 |  |  | (611) |  | 5.5 |  |  | 846 |  |  | (478)
Other |  | 1.7 |  |  | 517 |  |  | (54) |  | 10.0 |  |  | 202 |  |  | (90)
Unamortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  | N/A |  |  | 13,126 |  |  | - |  | N/A |  |  | 6,575 |  |  | -
Total |  |  |  | $ | 53,274 |  | $ | (17,267) |  |  |  | $ | 39,573 |  | $ | (14,503)
Amortization expense for amortizable intangible assets was $2.8 mi llion, $2.9 million and $2.8 million for 201 3, 20 12, and 20 11, respectively. Amortizable intangible assets are being amortized using the straight-line method over an average term of approximately 10.0 years. Future estimated amortization of intangible assets for the next five years is as follows:
| Fiscal Years |  | $ in thousands |
| 2014 |  | $ | 3,939 |
| 2015 |  |  | 3,438 |
| 2016 |  |  | 3,020 |
| 2017 |  |  | 2,881 |
| 2018 |  |  | 2,694 |
| Thereafter |  |  | 20,035 |
|  |  | $ | 36,007 |
The Company updated its impairment evaluation of goodwill and intangible assets with indefinite useful lives at August 31, 201 3. T he estimated fair value of all of the Company’s reporting units each exceeded the respective carrying values by more than 10 percent. Accordingly, no impairment losses were indicated as a result of the annual impairment test ing for fiscal years 2013, 2012 and 20 11. The Company does not include a roll forward of impairment losses because the Company has not had an impairment loss.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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