INTERNATIONAL SPEEDWAY CORP - 10-Q filing on 2019-07-08

Goodwill and Intangible Assets

6 Months Ended

May 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

The gross carrying value, accumulated amortization and net carrying value of the major classes of intangible assets relating to the Motorsports Event segment are as follows (in thousands):



	November 30, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Other	120		100		20
Total amortized intangible assets	120		100		20
Non-amortized intangible assets:
NASCAR — sanction agreements	177,813		—		177,813
Other	730		—		730
Total non-amortized intangible assets	178,543		—		178,543
Total intangible assets	$	178,663	$	100	$	178,563

	May 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Other	288		13		275
Total amortized intangible assets	288		13		275
Non-amortized intangible assets:
NASCAR — sanction agreements	177,813		—		177,813
Other	1,740		—		1,740
Total non-amortized intangible assets	179,553		—		179,553
Total intangible assets	$	179,841	$	13	$	179,828

The increase of approximately $1.0 million in the net carrying amount of non-amortized intangible assets and $0.3 million in net carrying amount of amortized intangible assets, for the six months ended May 31, 2019, as compared to the fiscal year ended November 30, 2018, is primarily due to the acquisition of certain assets, including trademarks and other intellectual property from Racing Electronics.

The following table presents current and expected amortization expense of the existing intangible assets for each of the following periods (in thousands):



Amortization expense for the six months ended May 31, 2019	$	5
Remaining estimated amortization expense for the year ending November 30:
2019	$	5
2020	10
2021	10
2022	11
2023 and thereafter	239

The increase of approximately $0.5 million in the carrying value of goodwill during the six months ended May 31, 2019, relates to the acquisition of certain assets from Racing Electronics.