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Intangible Assets And Goodwill
12 Months Ended
Aug. 31, 2019
Intangible Assets And Goodwill [Abstract]  
Intangible Assets And Goodwill





5.INTANGIBLE ASSETS AND GOODWILL



Intangible Assets



Our intangible assets were comprised of the following (in thousands):



 

 

 

 

 

 



 

 

 

 

 

 



 

Gross Carrying

 

Accumulated

 

Net Carrying

AUGUST 31, 2019

 

Amount

 

Amortization

 

Amount

Finite-lived intangible assets:

 

 

 

 

 

 

License rights

$

28,099 

$

(20,063)

$

8,036 

Acquired content

 

62,307 

 

(48,449)

 

13,858 

Customer lists

 

20,266 

 

(18,450)

 

1,816 

Acquired technology

 

3,568 

 

(3,149)

 

419 

Trade names

 

2,036 

 

(1,602)

 

434 

Non-compete agreements and other

 

758 

 

(631)

 

127 



 

117,034 

 

(92,344)

 

24,690 

Indefinite-lived intangible asset:

 

 

 

 

 

 

Covey trade name

 

23,000 

 

 -

 

23,000 



$

140,034 

$

(92,344)

$

47,690 



 

 

 

 

 

 

AUGUST 31, 2018

 

 

 

 

 

 

Finite-lived intangible assets:

 

 

 

 

 

 

License rights

$

27,750 

$

(18,889)

$

8,861 

Acquired content

 

62,102 

 

(46,147)

 

15,955 

Customer lists

 

20,092 

 

(17,835)

 

2,257 

Acquired technology

 

3,568 

 

(2,642)

 

926 

Trade names

 

2,036 

 

(1,441)

 

595 

Non-compete agreements and other

 

758 

 

(418)

 

340 



 

116,306 

 

(87,372)

 

28,934 

Indefinite-lived intangible asset:

 

 

 

 

 

 

Covey trade name

 

23,000 

 

 -

 

23,000 



$

139,306 

$

(87,372)

$

51,934 



Our intangible assets are amortized over the estimated useful life of the asset.  The range of remaining estimated useful lives and weighted-average amortization period over which we are amortizing the major categories of finite-lived intangible assets at August 31, 2019 were as follows:



 

 

 

 



 

Category of Intangible Asset

 

 

Range of Remaining Estimated Useful Lives

 

Weighted Average Original Amortization Period



 

 

 

 

License rights

 

3 to 8 years

 

29 years

Acquired content

 

2 to 8 years

 

25 years

Customer lists

 

2 to  8 years

 

12 years

Acquired technology

 

1 year

 

3 years

Trade names

 

1 to 4 years

 

5 years

Non-compete agreements and other

 

1 to 9 years

 

4 years



Our aggregate amortization expense from finite-lived intangible assets totaled $5.0 million, $5.4 million, and $3.5 million for the fiscal years ended August 31, 2019, 2018, and 2017.  Amortization expense from our intangible assets over the next five years is expected to be as follows (in thousands):





 

 



 

 

YEAR ENDING

 

 

AUGUST 31,

 

 

2020

$

4,564 

2021

 

4,049 

2022

 

3,557 

2023

 

2,612 

2024

 

2,612 



Goodwill



There were no changes to our consolidated goodwill balance during fiscal 2019 and we do not have any accumulated impairment charges against the carrying value of our goodwill.  At August 31, 2019 and 2018, goodwill was allocated to our segments as shown below (in thousands):







 

 



 

 

Direct offices

$

16,825 

International licensees

 

5,065 

Education practice

 

2,330 



$

24,220