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Intangible Assets And Goodwill | 12 Months Ended
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Aug. 31, 2025
Intangible Assets And Goodwill [Abstract] |
Intangible Assets And Goodwill | ‎ 4. INTANGIBLE A SSETS AND GOODWILL Intangible Assets Our intangible assets were comprised of the following (in thousands):
|  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying
AUGUST 31, 2025 |  | Amount |  |  | Amortization |  |  | Amount
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Acquired content | $ | 49,812 |  | $ | (47,089) |  | $ | 2,723
License rights |  | 34,428 |  |  | (28,631) |  |  | 5,797
Customer lists |  | 15,982 |  |  | (15,736) |  |  | 246
Acquired technology |  | 7,282 |  |  | (4,641) |  |  | 2,641
Trade names |  | 1,883 |  |  | (1,764) |  |  | 119
Non-compete agreements and other |  | 930 |  |  | (905) |  |  | 25
|  | 110,317 |  |  | (98,766) |  |  | 11,551
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |
Covey trade name |  | 23,000 |  |  | - |  |  | 23,000
| $ | 133,317 |  | $ | (98,766) |  | $ | 34,551
AUGUST 31, 2024 |  |  |  |  |  |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |
Acquired content | $ | 49,806 |  | $ | (45,501) |  | $ | 4,305
License rights |  | 33,258 |  |  | (26,889) |  |  | 6,369
Customer lists |  | 15,982 |  |  | (15,589) |  |  | 393
Acquired technology |  | 7,282 |  |  | (3,920) |  |  | 3,362
Trade names |  | 1,883 |  |  | (1,586) |  |  | 297
Non-compete agreements and other |  | 930 |  |  | (890) |  |  | 40
|  | 109,141 |  |  | (94,375) |  |  | 14,766
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |
Covey trade name |  | 23,000 |  |  | - |  |  | 23,000
| $ | 132,141 |  | $ | (94,375) |  | $ | 37,766
During fiscal 2024, we purchased the content rights for The Teacher Believed in Me (TBIM) for $1.5 million in cash. We believe the content in TBIM is compelling and fits well within our Leader in Me offering. While the author retains the copyright to TBIM, the agreement grants us broad rights for the development and use of TBIM content. The content license does not have an expiration date and the purchase price is payable in two installments of $0.8 million. We are amortizing the content license over a 10-year useful life, which is similar to other licenses, and the final payment was made in January 2025. 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, 2025 were as follows:
Category of Intangible Asset |  | Range of Remaining Estimated Useful Lives |  | Weighted Average Amortization Period
Acquired content |  | 1 to 7 years |  | 30 years
License rights |  | 2 to 8 years |  | 30 years
Customer lists |  | 2 years |  | 12 years
Acquired technology |  | 4 years |  | 7 years
Trade names |  | 1 years |  | 5 years
Non-compete agreements and other |  | 2 to 4 years |  | 3 years
Our aggregate amortization expense from finite-lived intangible assets totaled $4.4 million, $4.2 million, and $4.3 million for the fiscal years ended August 31, 2025, 2024, and 2023. Amortization expense from our intangible assets over the next five years is expected to be as follows (in thousands):
YEAR ENDING |  |
AUGUST 31, |  |
2026 | $ | 2,665
2027 |  | 2,440
2028 |  | 2,168
2029 |  | 1,702
2030 |  | 779
Goodwill We performed our annual testing of goodwill in accordance with the accounting policies described in Note 1, Nature of Operations and Summary of Significant Accounting Policies. We completed a quantitative assessment of our goodwill as of August 31, 2025 and concluded there were no impairments. We do no t have any accumulated impairment charges against the carrying value of our goodwill. In connection with the new reporting structure as described in Note 17, Segment Information, we performed a quantitative analysis of the fair value of each segment and allocated goodwill from the historical Direct Office segment to the newly created North America and International Direct Office segments based on their relative fair values. At August 31, 2025 and 2024, goodwill was allocated to our segments as shown below (in thousands):
AUGUST 31, |  | 2024 |  |  | Allocation |  |  | 2025
North America | $ | 22,962 |  | $ | (3,837) |  | $ | 19,125
International direct offices |  | - |  |  | 3,837 |  |  | 3,837
International licensees |  | 5,928 |  |  | - |  |  | 5,928
Education practice |  | 2,330 |  |  | - |  |  | 2,330
| $ | 31,220 |  | $ | - |  | $ | 31,220

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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