Franklin Covey 2000 Annual Report 42 Notes to Consolidated Financial Statements remaining severance costs. Accordingly, the Company reduced the severance accrual during the fourth quarter of fiscal 2000 by $4.5 million to reflect the estimated remaining liability. During fiscal 2000, the Company entered into a sublease agreement for the majority of its leased office space in Provo, Utah. In connection with this sublease agreement, the Company reduced its leased office space exit accrual by $0.4 million due to less-than-expected building transi- tion costs. The Company will continue to monitor and adjust its remaining restructuring reserves as necessary. Goodwill and other intangible assets consist of the following (in thousands): AUGUST 31, 5. GOODWILL AND OTHER  INTANGIBLE ASSETS 2000 1999 Goodwill $142,755 $131,595 License rights 27,000 27,000 Curriculum rights 61,778 61,752 Trade names and other 92,517 94,777 324,050 315,124 Less accumulated amortization (65,575) (47,939) $258,475 $267,185 2000 1 999 Finished goods $38,363 $42,594 Work-in-process 2,803 4,1 8 6 Raw materials 12,433 1 3,000 $53,599 $59,780 Useful Lives Goodwill 5-30 years License rights 40 years Curriculum rights 14-30 years Trade names and other 4-40 years 2000 1 999 Land and improvements $ 7,634 $ 7,61 6 Buildings 49,623 48,78 7 Computer hardware and software 69,261 57 ,305 Machinery and equipment 42,554 56,28 7 Furniture, fixtures and leasehold  improvements 50,994 50,209 220,066 220,204 Less accumulated depreciation  and amortization (98,510) (92,34 1 ) $121,556 $127 ,863 $10.0 million current line of credit with  interest at the bank’s prime rate (9.5% at  August 31, 2000) $ 6,159 $20.0 million current line of credit with  interest at LIBOR plus 1.5% (8.1% at  August 31, 2000) 11,725 Total current lines of credit $17,884 $73.0 million long-term credit facility with  interest at the lower of the prime rate or  LIBOR plus 2.0% $55,000 At August 31, 2000, the Company had unsecured bank lines of credit available for working capital needs total- ing $103.0 million, of which $30.1 million was available. The amounts outstanding under the Company’s lines  of credit consisted of the following at August 31, 2000  (in thousands): Certain land and buildings represent collateral for debt obligations (Note 6). AUGUST 31, Property and equipment were comprised of the following (in thousands): Goodwill, representing the excess of cost over the net tangible and identifiable intangible assets of acquired businesses, and other intangible assets are amortized  on a straight-line basis over the following estimated useful lives: Inventories were comprised of the following (in thousands): AUGUST 31, 3. INVENTORIES 6. DEBT Lines of Credit 4. PROPERTY AND EQUIPMENT