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Goodwill and Other Intangible Assets | 12 Months Ended
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Aug. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Note 10 – Goodwill and Other Intangible Assets The carrying amount of goodwill by reportable segment for the year ended August 31, 2022 and August 31, 2021 is as follows:
($ in thousands) |  | Irrigation |  |  | Infrastructure |  |  | Total |
Balance as of August 31, 2020 |  | $ | 51,802 |  |  | $ | 16,202 |  |  | $ | 68,004 |
Foreign currency translation |  |  | 9 |  |  |  | (45 | ) |  |  | (36 | )
Balance as of August 31, 2021 |  |  | 51,811 |  |  |  | 16,157 |  |  |  | 67,968 |
Foreign currency translation |  |  | (64 | ) |  |  | (774 | ) |  |  | (838 | )
Balance as of August 31, 2022 |  | $ | 51,747 |  |  | $ | 15,383 |  |  | $ | 67,130 |
The components of the Company’s identifiable intangible assets and their weighted average remaining life at August 31, 2022 and 2021 are included in the table below.
|  | August 31, |
|  | 2022 |  |  | 2021 |
|  | Weighted |  |  | Gross |  |  |  |  |  | Weighted |  |  | Gross |  |  |  |
|  | average |  |  | carrying |  |  | Accumulated |  |  | average |  |  | carrying |  |  | Accumulated |
($ in thousands) |  | years |  |  | amount |  |  | amortization |  |  | years |  |  | amount |  |  | amortization |
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technology |  |  | 3.3 |  |  | $ | 26,329 |  |  | $ | (24,106 | ) |  |  | 3.7 |  |  | $ | 27,085 |  |  | $ | (23,931 | )
Customer relationships |  |  | 2.1 |  |  |  | 17,401 |  |  |  | (12,578 | ) |  |  | 2.6 |  |  |  | 17,461 |  |  |  | (11,560 | )
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  | N/A |  |  |  | 11,162 |  |  |  | — |  |  | N/A |  |  |  | 11,312 |  |  |  | — |
Total |  |  | 2.7 |  |  | $ | 54,892 |  |  | $ | (36,684 | ) |  |  | 3.1 |  |  | $ | 55,858 |  |  | $ | (35,491 | )
Amortization expense for amortizable intangible assets was $2.0 million, $2.2 million, and $2.5 million for fiscal 2022, 2021, and 2020, respectively. Future estimated amortization of intangible assets for the next five years is as follows:
Fiscal years |  | $ in thousands |
2023 |  | $ | 1,908 |
2024 |  |  | 1,905 |
2025 |  |  | 1,682 |
2026 |  |  | 517 |
2027 |  |  | 325 |
Thereafter |  |  | 709 |
|  | $ | 7,046 |
The Company updated its impairment evaluation of goodwill and intangible assets with indefinite lives at August 31, 2022. No impairment losses were indicated as a result of the annual impairment testing for fiscal 2022, 2021 and 2020.

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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