Goodwill, Service Contracts and Other Assets

Effective August 31, 2014, the Storage business was classified as discontinued operations. As a result, goodwill and service contracts related to this business, which were previously included in the Document Management Services operating segment, are included in the Corporate segment. The Storage business was sold in three separate transactions during the quarter ended November 30, 2014. See Note 12 entitled Discontinued Operations for more information.

Changes in the carrying amount of goodwill and service contracts for the nine months ended February 28, 2015, by operating segment, are as follows:



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

Balance as of June 1, 2014	$	943,516		$	23,905		$	221,911	$	78,079		$	1,267,411
Goodwill acquired	70			—			7,316		—			7,386
Goodwill divested in the Storage transactions	—			—			—		(75,660		)	(75,660		)
Foreign currency translation	(2,204		)	(125		)	—		(2,419		)	(4,748		)
Balance as of February 28, 2015	$	941,382		$	23,780		$	229,227	$	—		$	1,194,389



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

Balance as of June 1, 2014	$	17,171		$	—	$	28,034		$	10,470		$	55,675
Service contracts acquired	313			—		8,819			265			9,397
Service contracts amortization	(4,263		)	—		(5,246		)	(597		)	(10,106		)
Service contracts divested in the Storage transactions	—			—		—			(9,570		)	(9,570		)
Foreign currency translation	(4		)	—		—			(568		)	(572		)
Balance as of February 28, 2015	$	13,217		$	—	$	31,607		$	—		$	44,824

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



	As of February 28, 2015
(In thousands)	Carrying Amount		Accumulated Amortization		Net

Service contracts	$	340,002	$	295,178	$	44,824

Noncompete and consulting agreements	$	41,709	$	40,127	$	1,582
Other	23,828		7,331		16,497
Total other assets	$	65,537	$	47,458	$	18,079



	As of May 31, 2014
(In thousands)	Carrying Amount		Accumulated Amortization		Net

Service contracts	$	360,634	$	304,959	$	55,675

Noncompete and consulting agreements	$	49,080	$	47,036	$	2,044
Other	23,826		6,244		17,582
Total other assets	$	72,906	$	53,280	$	19,626

Amortization expense for continuing operations was $3.4 million and $5.1 million for the three months ended February 28, 2015 and 2014, respectively. Amortization expense for continuing operations was $10.3 million and $15.6 million for the nine months ended February 28, 2015 and 2014, respectively. Estimated amortization expense for continuing operations, excluding any future acquisitions, for each of the next five full fiscal years is $14.0 million, $10.2 million, $6.0 million, $5.0 million and $4.7 million, respectively.