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Note 5 - Goodwill and Other Intangible Assets

9 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

Note 5: Goodwill and Other Intangible Assets

The goodwill activity for the nine months ended August 31, 2019 is presented below:

	Americas						Asia			Construction		Engineering
	Adhesives			EIMEA			Pacific			Adhesives		Adhesives			Total
Balance at December 1, 2018	$	339,800		$	155,552		$	21,428		$	310,720	$	477,671		$	1,305,171
Acquisition		507			-			-			-		-			507
Divestiture		(15,757	)		-			-			-		-			(15,757	)
Currency impact		(2,059	)		(6,872	)		(79	)		234		(8,980	)		(17,756	)
Balance at August 31, 2019	$	322,491		$	148,680		$	21,349		$	310,954	$	468,691		$	1,272,165

As discussed in Note 16, as of the beginning of fiscal 2019, we realigned certain customers across operating segments. We allocated goodwill within our reporting units to reflect this realignment using the relative fair value approach.

Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows:

	August 31, 2019
Amortizable Intangible Assets	Purchased Technology and Patents			Customer Relationships			Trade Names			Other			Total
Original cost	$	112,680		$	910,817		$	63,480		$	27,640		$	1,114,617
Accumulated amortization		(43,881	)		(210,835	)		(24,698	)		(22,697	)		(302,111	)
Net identifiable intangibles	$	68,799		$	699,982		$	38,782		$	4,943		$	812,506

	December 1, 2018
Amortizable Intangible Assets	Purchased Technology and Patents			Customer Relationships			Trade Names			Other			Total
Original cost	$	118,930		$	953,929		$	65,975		$	33,550		$	1,172,384
Accumulated amortization		(41,503	)		(175,318	)		(21,573	)		(26,332	)		(264,726	)
Net identifiable intangibles	$	77,427		$	778,611		$	44,402		$	7,218		$	907,658

Amortization expense with respect to amortizable intangible assets was $18,079 and $19,116 for the three months ended August 31, 2019 and September 1, 2018, respectively, and $56,269 and $57,635 for the nine months ended August 31, 2019 and September 1, 2018, respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next five fiscal years is as follows:

	Remainder
Fiscal Year	2019		2020		2021		2022		2023		Thereafter
Amortization Expense	$	18,151	$	68,078	$	66,530	$	65,251	$	62,492	$	532,004

Non-amortizable intangible assets as of August 31, 2019 and December 1, 2018 are $479 and $493, respectively and are related to trademarks and trade names.