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Intangible Assets And Goodwill | 12 Months Ended
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Aug. 31, 2020
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, 2020 |  | Amount |  | Amortization |  | Amount
﻿Finite-lived intangible assets: |  |  |  |  |  |
﻿Acquired content | $ | 62,327 | $ | (50,749) | $ | 11,578
﻿License rights |  | 32,137 |  | (21,321) |  | 10,816
﻿Customer lists |  | 20,280 |  | (18,926) |  | 1,354
﻿Acquired technology |  | 3,568 |  | (3,568) |  | -
﻿Trade names |  | 2,036 |  | (1,759) |  | 277
﻿Non-compete agreements and other |  | 759 |  | (659) |  | 100
﻿ |  | 121,107 |  | (96,982) |  | 24,125
﻿Indefinite-lived intangible asset: |  |  |  |  |  |
﻿Covey trade name |  | 23,000 |  | - |  | 23,000
﻿ | $ | 144,107 | $ | (96,982) | $ | 47,125
﻿ |  |  |  |  |  |
﻿AUGUST 31, 2019 |  |  |  |  |  |
﻿Finite-lived intangible assets: |  |  |  |  |  |
﻿Acquired content | $ | 62,307 | $ | (48,449) | $ | 13,858
﻿License rights |  | 28,099 |  | (20,063) |  | 8,036
﻿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
﻿ 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, 2020 were as follows: ﻿
﻿ |  |  |  |
﻿ Category of Intangible Asset |  | Range of Remaining Estimated Useful Lives |  | Weighted Average Original Amortization Period
﻿ |  |  |  |
Acquired content |  | 1 to 7 years |  | 25 years
License rights |  | 2 to 9 years |  | 26 years
Customer lists |  | 1 to 6 years |  | 12 years
Acquired technology |  | None |  | 3 years
Trade names |  | 1 to 3 years |  | 5 years
Non-compete agreements and other |  | 1 to 7 years |  | 4 years
﻿ Our aggregate amortization expense from finite-lived intangible assets totaled $4.6 million, $5.0 million, and $5.4 million for the fiscal years ended August 31, 2020, 2019, and 2018. Amortization expense from our intangible assets over the next five years is expected to be as follows (in thousands): ﻿
﻿ |  |
﻿ |  |
﻿YEAR ENDING |  |
﻿AUGUST 31, |  |
﻿2021 | $ | 4,492
﻿2022 |  | 4,025
﻿2023 |  | 3,054
﻿2024 |  | 3,054
﻿2025 |  | 3,053
﻿ Multipliers License Rights ﻿ W e obtained an exclusive license (with certain exceptions) to develop and sell leadership offerings based on the bestselling book Multipliers, by Liz Wiseman. We launched the new Multipliers-based offerings in August 2020, which started minimum required royalty payments of $0.6 million per year through the expiration of the initial term of the license on August 31, 2029. The initial term of the Multipliers license may be extended over an additional five years, subject to the provisions of the license agreement. In August 2020, we recorded an increase to our intangible assets of $4.0 million, which is the present value of the minimum required royalty payments discounted at 5.0 percent. We will amortize the M ultipliers license rights on a straight-line basis over the initial license period, which ends on August 31, 2029. ﻿ Goodwill ﻿ There were no changes to our consolidated goodwill balance during fiscal 2020 and we do not have any accumulated impairment charges against the carrying value of our goodwill. At August 31, 2020 and 2019, 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
﻿

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