Goodwill and Other Intangible Assets

12 Months Ended

Aug. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 10 – Goodwill and Other Intangible Assets

The carrying amount of goodwill by reportable segment for the year ended August 31, 2025 and August 31, 2024 is as follows:

($ in thousands)	Irrigation			Infrastructure		Total
Balance as of August 31, 2023		67,371			15,750		83,121
FieldWise purchase accounting adjustments		1,004			—		1,004
Foreign currency translation		(23	)		92		69
Balance as of August 31, 2024		68,352			15,842		84,194
Foreign currency translation		24			241		265
Balance as of August 31, 2025	$	68,376		$	16,083	$	84,459

The components of the Company’s identifiable intangible assets and their weighted average remaining life at August 31, 2025 and 2024 are included in the table below.

	August 31,
	2025							2024
	Weighted		Gross					Weighted		Gross
	average		carrying		Accumulated			average		carrying		Accumulated
($ in thousands)	years		amount		amortization			years		amount		amortization
Definite lived intangible assets:
Patents and developed technology		2.5	$	29,641	$	(26,545	)		2.9	$	29,308	$	(25,460	)
Customer relationships		6.6		26,056		(17,818	)		6.7		26,037		(16,470	)
Indefinite lived intangible assets:
Tradenames	N/A			11,997		—		N/A			11,951		—
Total		5.5	$	67,694	$	(44,363	)		5.6	$	67,296	$	(41,930	)

Amortization expense for amortizable intangible assets was $2.2 million, $2.9 million, and $2.0 million for fiscal 2025, 2024, and 2023, respectively.

Future estimated amortization of intangible assets for the next five years is as follows:

Fiscal years	$ in thousands
2026	$	1,593
2027		1,590
2028		1,554
2029		1,150
2030		780
Thereafter		4,667
	$	11,334

The Company updated its impairment evaluation of goodwill and intangible assets with indefinite lives at August 31, 2025. No impairment losses were indicated as a result of the annual impairment testing for fiscal 2025, 2024 and 2023.