Note 9 - Intangible Assets

12 Months Ended

Aug. 31, 2013

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

9. 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 the Company’s acquired intangible assets at August 31, 2013 was 11.6 years. The Company amortizes intangible assets over their estimated useful lives, which are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. There were no changes to the estimate of the remaining useful lives during fiscal years 2013, 2012 and 2012. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on 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 August 31, 2013	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	49,185	$	22,419	$	26,766
Client relationships		22,915		16,185		6,730
Software technology		20,914		19,126		1,788
Non-compete agreements		2,154		1,293		861
Trade names		758		680		78
Total	$	95,926	$	59,703	$	36,223

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 fiscal 2013. During fiscal 2012, $6.4 million of intangible assets were acquired with a weighted average useful life of 5.5 years due to the acquisition of StreetAccount on June 29, 2012.

StreetAccount Intangible Asset Allocation	Weighted Average Amortization Period (years)		Acquisition Cost
Client relationships		7.0	$	2,822
Software technology		5.0		2,332
Data content		3.0		613
Non-compete agreements		4.0		404
Trade name		2.0		186
Total		5.5	$	6,357

Amortization expense recorded for intangible assets during fiscal years 2013, 2012 and 2011 was $7.1 million, $7.5 million and $8.4 million, respectively. As of August 31, 2013, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2014	$	5,983
2015		5,053
2016		3,407
2017		3,273
2018		2,914
Thereafter		15,593
Total	$	36,223