Goodwill and Other Intangible Assets

12 Months Ended

Aug. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The Company completed its annual impairment test for goodwill and indefinite-lived intangible assets during the fourth quarter of fiscal year 2020 and determined the fair values of the reporting units and the indefinite-lived intangible assets were 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, 2020 and 2019 (in thousands):



	EMS			DMS			Total
Balance as of August 31, 2018	$	82,670		$	545,075		$	627,745
Change in foreign currency exchange rates	(702		)	(4,788		)	(5,490		)
Balance as of August 31, 2019	81,968			540,287			622,255
Acquisitions and adjustments	5,358			55,999			61,357
Change in foreign currency exchange rates	(138		)	13,379			13,241
Balance as of August 31, 2020	$	87,188		$	609,665		$	696,853

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, 2020				August 31, 2019
	Gross Carrying Amount		Accumulated Impairment		Gross Carrying Amount		Accumulated Impairment
Goodwill	$	1,716,675	$	1,019,822	$	1,642,077	$	1,019,822

The following table presents the Company’s total purchased intangible assets as of August 31, 2020 and 2019 (in thousands):



	Weighted Average Amortization Period (in years)	August 31, 2020							August 31, 2019
	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	12	$	302,314	$	(199,861	)	$	102,453	$	292,797	$	(175,199	)	$	117,598
Intellectual property	8	174,373		(164,671		)	9,702		173,771		(157,606		)	16,165
Finite-lived trade names	Not applicable	77,667		(30,542		)	47,125		77,536		(5,036		)	72,500
Trade names	Indefinite	50,590		—			50,590		50,590		—			50,590
Total intangible assets	12	$	604,944	$	(395,074	)	$	209,870	$	594,694	$	(337,841	)	$	256,853

Intangible asset amortization for fiscal years 2020, 2019 and 2018 was approximately $55.5 million, $31.9 million and $38.5 million, respectively. The estimated future amortization expense is as follows (in thousands):



Fiscal Year Ended August 31,
2021	$	45,246
2022	30,038
2023	27,624
2024	12,724
2025	10,874
Thereafter	32,774
Total	$	159,280