Enerpac Tool Group Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets (Tables)

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

May 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the gross carrying value of goodwill and intangible assets can result from changes in foreign currency exchange rates, business acquisitions, divestitures or impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2019 are as follows (in thousands):



	Industrial Tools & Services			Engineered Components & Systems			Total
Balance as of August 31, 2018	$	248,705		$	263,707		$	512,412
Purchase accounting adjustments	253			—			253
Impairment charges	—			(13,678		)	(13,678		)
Impact of changes in foreign currency rates	(3,239		)	(4,249		)	(7,488		)
Balance as of May 31, 2019	$	245,719		$	245,780		$	491,499

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):



		May 31, 2019						August 31, 2018
	Weighted Average Amortization Period (Years)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Amortizable intangible assets:
Customer relationships	15	$	217,539	$	149,742	$	67,797	$	230,601	$	147,451	$	83,150
Patents	11	25,097		23,371		1,726		30,355		25,327		5,028
Trademarks and tradenames	14	7,254		5,284		1,970		20,823		15,347		5,476
Other intangibles	3	5,571		5,571		—		5,946		5,816		130
Indefinite lived intangible assets:
Tradenames	N/A	86,689		—		86,689		87,253		—		87,253
		$	342,150	$	183,968	$	158,182	$	374,978	$	193,941	$	181,037

Schedule of Asset Impairment Charges [Table Text Block] [Table Text Block]

A summary of impairment charges by reporting unit for the nine months ended May 31, 2019 is as follows (in thousands):



	Cortland ⁽¹⁾		Precision Hayes		Total
Goodwill	$	13,709	$	—	$	13,709
Amortizable intangible assets	—		8,264		8,264
Assets held for sale	1,477		—		1,477
Fixed assets	—		1,230		1,230
Total	$	15,185	$	9,494	$	24,679

⁽¹⁾ The Cortland reporting unit is representative of the Cortland U.S. and Cortland Fibron businesses. The goodwill impairment charge related to the Cortland U.S. business for the six months ended February 28, 2019 and the assets held for sale impairment charge related to Cortland Fibron for the three months ended November 30, 2019.