Goodwill, Service Contracts and Other Assets

Changes in the carrying amount of goodwill and service contracts for the six months ended November 30, 2012, by operating segment, are as follows:



Goodwill (in thousands)	Rental Uniforms & Ancillary Products		Uniform Direct Sales		First Aid, Safety & Fire Protection		Document Management		Total

Balance as of June 1, 2012	$	944,449	$	23,968	$	192,465	$	324,493	$	1,485,375
Goodwill acquired	—		—		24,110		10,610		34,720
Foreign currency translation	608		28		—		1,680		2,316
Balance as of November 30, 2012	$	945,057	$	23,996	$	216,575	$	336,783	$	1,522,411



Service Contracts (in thousands)	Rental Uniforms & Ancillary Products			Uniform Direct Sales		First Aid, Safety & Fire Protection			Document Management			Total

Balance as of June 1, 2012	$	29,156		$	—	$	29,334		$	18,332		$	76,822
Service contracts acquired	—			—		9,951			13,491			23,442
Service contracts amortization	(3,874		)	—		(3,821		)	(3,533		)	(11,228		)
Foreign currency translation	852			—		—			592			1,444
Balance as of November 30, 2012	$	26,134		$	—	$	35,464		$	28,882		$	90,480

Information regarding Cintas’ service contracts and other assets is as follows:



	As of November 30, 2012
(In thousands)	Carrying Amount		Accumulated Amortization		Net
Service contracts	$	409,522	$	319,042	$	90,480

Noncompete and consulting agreements	$	77,469	$	72,068	$	5,401
Investments⁽¹⁾	95,109		—		95,109
Other	21,538		3,979		17,559
Total	$	194,116	$	76,047	$	118,069



	As of May 31, 2012
(In thousands)	Carrying Amount		Accumulated Amortization		Net
Service contracts	$	384,622	$	307,800	$	76,822

Noncompete and consulting agreements	$	76,036	$	69,954	$	6,082
Investments⁽¹⁾	90,198		—		90,198
Other	19,828		3,272		16,556
Total	$	186,062	$	73,226	$	112,836

⁽¹⁾ Investments at November 30, 2012, include the cash surrender value of insurance policies of $67.0 million, equity method investments of $27.2 million and cost method investments of $0.9 million. During the second quarter of fiscal 2013, Cintas sold stock of an equity method investment for a gain of $8.5 million. Investments at May 31, 2012, include the cash surrender value of insurance policies of $57.4 million, equity method investments of $31.9 million and cost method investments of $0.9 million.

Amortization expense was $12.0 million and $20.1 million for the six months ended November 30, 2012 and 2011, respectively. Estimated amortization expense, excluding any future acquisitions, for each of the next five fiscal years is $23.1 million, $20.7 million, $17.8 million, $12.6 million and $7.6 million, respectively.

Investments recorded using the cost method are evaluated for impairment on an annual basis or when indicators of impairment are identified. For the six months ended November 30, 2012 and 2011, no losses due to impairment were recorded.