Intangibles and Other Assets, net

9 Months Ended

May 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4 – Intangibles and Other Assets, net

Intangible assets that are determined to have finite lives are amortized over their useful lives. Intangible assets with indefinite useful lives are not amortized and are periodically evaluated for impairment.

The following table summarizes the Company’s identifiable intangible and other assets balance:

(In thousands)	May 31, 2021			August 31, 2020
Intangible assets subject to amortization:
Customer relationships	$	89,722		$	89,722
Accumulated amortization		(62,237	)		(56,509	)
Other intangibles		38,928			37,798
Accumulated amortization		(12,147	)		(10,595	)
		54,266			60,416
Intangible assets not subject to amortization		2,474			2,474
Prepaid and other assets		26,349			22,026
Operating lease ROU assets		41,621			62,389
Nonqualified savings plan investments		45,816			35,744
Revolving notes issuance costs, net		4,890			3,623
Assets held for sale		5,413			3,650
Total Intangible and other assets, net	$	180,829		$	190,322

Amortization expense was $2.9 million and $8.5 million for the three and nine months ended May 31, 2021 and $2.7 million and $8.2 million for the three and nine months ended May 31, 2020. Amortization expense for the years ending August 31, 2021, 2022, 2023, 2024 and 2025 is expected to be $11.6 million, $8.3 million, $6.9 million, $6.7 million and $5.8 million, respectively.