Note 10. Intangible Assets

3 Months Ended

Nov. 30, 2012

Intangible Assets Disclosure [Text Block]

10. INTANGIBLE ASSETS

FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of FactSet’s acquired identifiable intangible assets at November 30, 2012 was 11.7 years.

The Company amortizes intangible assets over their estimated useful lives. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on either discounted cash flows. No impairment of intangible assets has been identified during any of the periods presented. The intangible assets have no assigned residual values.

The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows (in thousands):

At November 30, 2012	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	49,748	$	19,743	$	30,005
Client relationships		22,993		14,778		8,215
Software technology		20,997		18,798		2,199
Non-compete agreements		2,154		930		1,224
Trade names		758		547		211
Total	$	96,650	$	54,796	$	41,854

At August 31, 2012	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	49,120	$	18,521	$	30,599
Client relationships		22,841		14,089		8,752
Software technology		20,892		18,482		2,410
Non-compete agreements		2,154		810		1,344
Trade names		758		492		266
Total	$	95,765	$	52,394	$	43,371

There were no intangible assets acquired during the first three months of fiscal 2013. The change in the gross carrying amount of intangible assets at November 30, 2012 as compared to August 31, 2012 was due to foreign currency translations.

Amortization expense recorded for intangible assets was $1.9 million for the three months ended November 30, 2012 and 2011, respectively. As of November 30, 2012, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2013 (remaining nine months)	$	5,174
2014		6,010
2015		5,081
2016		3,436
2017		3,301
Thereafter		18,852
Total	$	41,854