Goodwill and Other Intangible Assets
|9 Months Ended|
May 31, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Other Intangible Assets||
Note 6. Goodwill, Intangible Assets and Long-Lived Assets
Changes in the gross carrying value of goodwill and intangible assets result from changes in foreign currency exchange rates, business acquisitions, divestitures and impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2021 are as follows (in thousands):
The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands):
The Company estimates that amortization expense will be $1.9 million for the remaining three months of fiscal 2021. Amortization expense for future years is estimated to be: $7.5 million in fiscal 2022, $6.0 million in fiscal 2023, $4.3 million in fiscal 2024, $3.6 million in fiscal 2025, $2.1 million in fiscal 2026 and $6.9 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures, or changes in foreign currency exchange rates, among other causes.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef