Goodwill and Other Intangible Assets

The Company completed its annual impairment test for goodwill and indefinite-lived intangible assets during the fourth quarter of fiscal year 2018 and determined the fair values of the reporting units and the indefinite-lived intangible assets were substantially in excess of the carrying values and that no impairment existed as of the date of the impairment test.

The following table presents the changes in goodwill allocated to the Company’s reportable segments, Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), during the fiscal years ended August 31, 2018 and 2017 (in thousands):



	EMS			DMS			Total
Balance as of August 31, 2016	$	51,179		$	543,594		$	594,773
Acquisitions and adjustments	—			8,186			8,186
Change in foreign currency exchange rates	1,395			3,830			5,225
Balance as of August 31, 2017	52,574			555,610			608,184
Acquisitions and adjustments ⁽¹⁾	30,763			(8,186		)	22,577
Change in foreign currency exchange rates	(667		)	(2,349		)	(3,016		)
Balance as of August 31, 2018	$	82,670		$	545,075		$	627,745

⁽¹⁾ Includes $8.2 million of goodwill reallocated between DMS and EMS during fiscal year 2018.

The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in thousands):



	August 31, 2018				August 31, 2017
	Gross Carrying Amount		Accumulated Impairment		Gross Carrying Amount		Accumulated Impairment
Goodwill	$	1,647,567	$	1,019,822	$	1,628,006	$	1,019,822

The following table presents the Company’s total purchased intangible assets as of August 31, 2018 and 2017 (in thousands):



	Weighted Average Amortization Period (in years)	August 31, 2018							August 31, 2017
	Weighted Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Contractual agreements and customer relationships	11	$	289,947	$	(153,415	)	$	136,532	$	265,148	$	(132,691	)	$	132,457
Intellectual property	5	168,181		(148,672		)	19,509		160,456		(131,407		)	29,049
Finite-lived trade names	Not applicable	5,091		(5,091		)	—		5,114		(5,114		)	—
Trade names	Indefinite	123,090		—			123,090		123,090		—			123,090
Total intangible assets	9	$	586,309	$	(307,178	)	$	279,131	$	553,808	$	(269,212	)	$	284,596

Intangible asset amortization for fiscal years 2018, 2017 and 2016 was approximately $38.5 million, $35.5 million and $37.1 million, respectively. The estimated future amortization expense is as follows (in thousands):



Fiscal Year Ended August 31,
2019	$	30,212
2020	26,645
2021	18,261
2022	17,119
2023	14,704
Thereafter	49,100
Total	$	156,041