Goodwill and Other Intangible Assets

6 Months Ended

Feb. 29, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

10. Goodwill and Other Intangible Assets

When the Company acquires a business, the amount assigned to the tangible assets and liabilities and intangible assets acquired is based on their respective fair values determined as of the acquisition date. The excess of the purchase price over the tangible assets and liabilities and intangible assets is recorded as goodwill.

The changes in the carrying amount of goodwill are as follows (in thousands):

Balance as of August 31, 2019	$	401,178
Goodwill recorded during the period		23,544
Other		(11	)
Balance as of February 29, 2020	$	424,711

Intangible assets, net in the Company’s accompanying Consolidated Balance Sheets are as follows (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
February 29, 2020
Customer contracts	$	233,997	$	170,780	$	63,217
Software		59,956		36,940		23,016
Other intangible assets		35,664		33,542		2,122
	$	329,617	$	241,262	$	88,355
August 31, 2019
Customer contracts	$	221,306	$	164,718	$	56,588
Software		48,838		34,813		14,025
Other intangible assets		35,063		32,956		2,107
	$	305,207	$	232,487	$	72,720