Goodwill and Other Intangible Assets (Tables)
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6 Months Ended |
Feb. 28, 2017 |
Feb. 29, 2016 |
| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Asset Impairment Charges [Table Text Block] |
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A summary of the second quarter fiscal 2016 impairment charge by reporting unit is as follows (in thousands):
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Cortland |
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Viking |
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maximatecc |
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Total |
Goodwill |
$ |
34,502 |
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$ |
39,099 |
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$ |
44,521 |
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$ |
118,122 |
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Indefinite lived intangible assets |
2,211 |
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13,289 |
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1,153 |
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16,653 |
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Amortizable intangible assets |
— |
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27,952 |
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— |
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27,952 |
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Fixed assets |
— |
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23,784 |
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— |
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23,784 |
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$ |
36,713 |
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$ |
104,124 |
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$ |
45,674 |
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$ |
186,511 |
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| Schedule of Goodwill |
The changes in the carrying value of goodwill for the six months ended February 28, 2017 are as follows (in thousands):
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Industrial |
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Energy |
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Engineered Solutions |
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Total |
Balance as of August 31, 2016 |
$ |
101,739 |
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$ |
187,321 |
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$ |
230,216 |
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$ |
519,276 |
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Purchase accounting adjustments |
(59 |
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2,320 |
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— |
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2,261 |
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Impact of changes in foreign currency rates |
(1,812 |
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(4,947 |
) |
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(5,700 |
) |
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(12,459 |
) |
Balance as of February 28, 2017 |
$ |
99,868 |
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$ |
184,694 |
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$ |
224,516 |
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$ |
509,078 |
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| Schedule Of Finite Lived And Indefinite Lived Intangible Assets Table |
The gross carrying value and accumulated amortization of the Company’s other intangible assets are as follows (in thousands):
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February 28, 2017 |
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August 31, 2016 |
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Weighted Average
Amortization
Period (Years)
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Gross
Carrying
Value
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Accumulated
Amortization
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Net
Book
Value
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Gross
Carrying
Value
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Accumulated
Amortization
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Net
Book
Value
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Amortizable intangible assets: |
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Customer relationships |
15 |
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$ |
287,584 |
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$ |
171,853 |
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$ |
115,731 |
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$ |
292,671 |
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$ |
166,252 |
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$ |
126,419 |
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Patents |
11 |
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29,992 |
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23,047 |
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6,945 |
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30,296 |
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22,233 |
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8,063 |
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Trademarks and tradenames |
18 |
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21,200 |
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8,503 |
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12,697 |
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21,283 |
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7,936 |
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13,347 |
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Other intangibles |
3 |
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6,506 |
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5,950 |
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|
556 |
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6,627 |
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5,890 |
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|
737 |
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Indefinite lived intangible assets: |
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Tradenames |
N/A |
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89,630 |
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— |
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89,630 |
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90,909 |
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— |
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90,909 |
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$ |
434,912 |
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$ |
209,353 |
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$ |
225,559 |
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$ |
441,786 |
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$ |
202,311 |
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$ |
239,475 |
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