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CoveyLink Acquisition Earnout Payment
9 Months Ended
Jun. 01, 2013
CoveyLink Acquisition Earnout Payment [Abstract]  
CoveyLink Acquisition Earnout Payment

NOTE 4 – COVEYLINK ACQUISITION EARNOUT PAYMENT

 

During March 2013, we paid $2.2 million to the former owners of CoveyLink Worldwide, LLC (CoveyLink) for the fourth of five potential annual earnout payments.  The annual contingent earnout payments are based on earnings growth over the specified measurement period and are classified as goodwill on our consolidated balance sheets when paid.  The former owners of CoveyLink include Stephen M.R. Covey, who is the brother of one of our named executive officers.  For a reconciliation of our consolidated goodwill from August 31, 2012 through June 1, 2013 refer to the table included in Note 2 herein.