Intangibles and Other Assets, net

12 Months Ended

Aug. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 8 — 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:


	As of August 31,
(In millions)	2022			2021
Intangible assets subject to amortization:
Customer and supplier relationships	$	87.5		$	89.8
Accumulated amortization		(66.1	)		(64.1	)
Other intangible assets		42.4			40.3
Accumulated amortization		(16.5	)		(13.0	)
		47.3			53.0
Intangible assets not subject to amortization		2.4			2.4
Prepaid and other assets		32.4			26.7
Operating lease ROU assets		54.2			39.8
Nonqualified savings plan investments		40.3			47.7
Debt issuance costs, net		8.7			8.6
Assets held for sale		3.8			5.4
	$	189.1		$	183.6

Amortization expense for the years ended August 31, 2022, 2021 and 2020 was $9.3 million, $11.6 million and $11.0 million, respectively. As of August 31, 2022, amortizable intangible assets had a weighted-average remaining useful life of 8 years. Amortization expense for the years ending August 31, 2023, 2024, 2025, 2026 and 2027 is expected to be $8.5 million, $7.6 million, $7.2 million, $6.0 million and $5.3 million, respectively.