Goodwill And Other Intangible Assets

3 Months Ended

Nov. 30, 2019

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets

Note 5. Goodwill and Other Intangible Assets

Goodwill

The following table summarizes the changes in the carrying amounts of goodwill by segment (in thousands):

	Americas		EMEA		Asia-Pacific		Total
Balance as of August 31, 2019	$	85,420	$	8,717	$	1,210	$	95,347
Translation adjustments		24		202		-		226
Balance as of November 30, 2019	$	85,444	$	8,919	$	1,210	$	95,573

There were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its goodwill subsequent to February 28, 2019, the date of its most recent annual goodwill impairment test. To date, there have been no impairment losses identified and recorded related to the Company’s goodwill.

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Definite-lived Intangible Assets

The Company’s definite-lived intangible assets, which include the 2000 Flushes, Spot Shot, Carpet Fresh, 1001, EZ REACH and GT85 trade names, the Belgium customer list, the GT85 customer relationships and the GT85 technology are included in other intangible assets, net in the Company’s condensed consolidated balance sheets. The following table summarizes the definite-lived intangible assets and the related accumulated amortization (in thousands):

	November 30,		August 31,
	2019		2019
Gross carrying amount	$	36,020	$	35,531
Accumulated amortization		(25,896)		(24,879)
Net carrying amount	$	10,124	$	10,652

There has been no impairment charge for the three months ended November 30, 2019 and there were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its existing definite-lived intangible assets.

Changes in the carrying amounts of definite-lived intangible assets by segment for the three months ended November 30, 2019 are summarized below (in thousands):

	Americas		EMEA		Asia-Pacific		Total
Balance as of August 31, 2019	$	8,401	$	2,251	$	-	$	10,652
Amortization expense		(561)		(89)		-		(650)
Translation adjustments		-		122		-		122
Balance as of November 30, 2019	$	7,840	$	2,284	$	-	$	10,124

The estimated amortization expense for the Company’s definite-lived intangible assets in future fiscal years is as follows (in thousands):

	Trade Names		Customer-Based
Remainder of fiscal year 2020	$	1,442	$	123
Fiscal year 2021		1,264		165
Fiscal year 2022		1,264		165
Fiscal year 2023		1,018		-
Fiscal year 2024		1,012		-
Thereafter		3,671		-
Total	$	9,671	$	453

Included in the total estimated future amortization expense is the amortization expense for the 1001 trade name and the GT85 intangible assets, which are based on current foreign currency exchange rates, and as a result amounts in future periods may differ from those presented due to fluctuations in those rates.