Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Aug. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Carrying Amount in Goodwill by Segment

The carrying amount of goodwill by reportable segment for the year ended August 31, 2020 and August 31, 2019 is as follows: 

($ in thousands)	Irrigation			Infrastructure			Total
Balance as of August 31, 2018	$	48,591		$	16,080		$	64,671
Foreign currency translation		(24	)		(260	)		(284	)
Balance as of August 31, 2019		48,567			15,820			64,387
Acquisition of Net Irrigate		3,265			—			3,265
Foreign currency translation		(30	)		382			352
Balance as of August 31, 2020	$	51,802		$	16,202		$	68,004

Schedule of Intangible Assets and Weighted Average Remaining Life Finite and Infinite Excluding Goodwill

The components of the Company’s identifiable intangible assets and their weighted average remaining life at August 31, 2020 and 2019 are included in the table below.

	August 31,
	2020							2019
	Weighted		Gross					Weighted		Gross
	average		carrying		Accumulated			average		carrying		Accumulated
($ in thousands)	years		amount		amortization			years		amount		amortization
Amortizable intangible assets:
Patents and developed technology		4.3	$	27,082	$	(22,905	)		4.0	$	26,547	$	(21,097	)
Customer relationships		3.1		17,965		(10,986	)		3.6		16,439		(9,779	)
Non-compete agreements		—		—		—			0.4		1,132		(1,107	)
Unamortizable intangible assets:
Tradenames	N/A			12,321		—		N/A			12,247		—
Total		3.5	$	57,368	$	(33,891	)		3.8	$	56,365	$	(31,983	)

Schedule of Future Estimated Amortization of Intangible Assets

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

Fiscal years	$ in thousands
2021	$	2,177
2022		2,006
2023		1,902
2024		1,902
2025		1,653
Thereafter		1,516
	$	11,156