Goodwill and Other Intangible Assets (Tables)
|
12 Months Ended |
Aug. 31, 2019 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
The changes in the carrying amount of goodwill for the years ended August 31, 2019 and 2018 by operating segment are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Tools & Services |
|
Other |
|
Total |
Balance as of August 31, 2017 |
|
$ |
238,707 |
|
|
$ |
33,712 |
|
|
$ |
272,419 |
|
Business acquisitions |
|
12,441 |
|
|
— |
|
|
12,441 |
|
Impact of changes in foreign currency rates |
|
(2,443 |
) |
|
(2,285 |
) |
|
(4,728 |
) |
Balance as of August 31, 2018 |
|
248,705 |
|
|
31,427 |
|
|
280,132 |
|
Purchase accounting adjustments |
|
253 |
|
|
— |
|
|
253 |
|
Impairment charge |
|
— |
|
|
(13,678 |
) |
|
(13,678 |
) |
Impact of changes in foreign currency rates |
|
(6,085 |
) |
|
(207 |
) |
|
(6,292 |
) |
Balance as of August 31, 2019 |
|
$ |
242,873 |
|
|
$ |
17,542 |
|
|
$ |
260,415 |
|
The changes in the carrying amount of goodwill included within "Assets from discontinued operations" on the Consolidated Balance Sheets for the years ended August 31, 2019 and 2018 are as follows (in thousands):
|
|
|
|
|
|
Balance as of August 31, 2017 |
|
$ |
257,662 |
|
Impairment charge |
|
(21,227 |
) |
Impact of changes in foreign currency rates |
|
(2,655 |
) |
Balance as of August 31, 2018 |
|
233,780 |
|
Impairment charge |
|
(209,489 |
) |
Impact of changes in foreign currency rates |
|
(7,429 |
) |
Balance as of August 31, 2019 |
|
$ |
16,862 |
|
|
| Gross Carrying Amount and Accumulated Amortization of Intangible Assets |
The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Weighted Average Amortization Period (Year) |
|
August 31, 2019 |
|
August 31, 2018 |
|
|
Gross |
|
Accumulated Amortization |
|
Net Book Value |
|
Gross |
|
Accumulated Amortization |
|
Net Book Value |
Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
14 |
|
$ |
126,229 |
|
|
$ |
96,817 |
|
|
$ |
29,412 |
|
|
$ |
128,561 |
|
|
$ |
84,029 |
|
|
$ |
44,532 |
|
Patents |
|
12 |
|
13,227 |
|
|
12,276 |
|
|
951 |
|
|
13,324 |
|
|
11,915 |
|
|
1,409 |
|
Trademarks and tradenames |
|
16 |
|
4,513 |
|
|
2,921 |
|
|
1,592 |
|
|
4,275 |
|
|
2,826 |
|
|
1,449 |
|
Non-compete agreements & other |
|
3 |
|
4,835 |
|
|
4,835 |
|
|
— |
|
|
4,942 |
|
|
4,813 |
|
|
129 |
|
Indefinite lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradenames |
|
N/A |
|
20,420 |
|
|
— |
|
|
20,420 |
|
|
24,138 |
|
|
— |
|
|
24,138 |
|
|
|
|
|
$ |
169,224 |
|
|
$ |
116,849 |
|
|
$ |
52,375 |
|
|
$ |
175,240 |
|
|
$ |
103,583 |
|
|
$ |
71,657 |
|
|