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Goodwill and Intangible Assets | 6 Months Ended
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Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Through multiple acquisitions, we acquired definite-lived intangible assets consisting primarily of customer relationships, patented technology, distribution networks, and trademarks and trade names associated with specific products, which are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely. We recorded amortization expense for definite-lived intangible assets of $9.3 million and $10.3 million during the three months ended February 28, 2023 and 2022, respectively, and $22.9 million and $20.6 million during the six months ended February 28, 2023 and 2022, respectively. Amortization expense is generally recorded on a straight-line basis. The following table summarizes the expected amortization expense for the next five fiscal years as of the date presented (in millions):
Fiscal Year |  | February 28, 2023
2023 |  | $ | 41.5 |
2024 |  | 36.9 |
2025 |  | 29.4 |
2026 |  | 26.7 |
2027 |  | 25.2 |
The following table summarizes the changes in the carrying amount of goodwill by segment during the periods presented (in millions):
| ABL |  | ISG |  | Total
Balance as of August 31, 2022 | $ | 1,014.2 |  |  | $ | 70.1 |  |  | $ | 1,084.3 |
Derecognitions for divestitures | (0.7) |  |  | — |  |  | (0.7) |
Foreign currency translation adjustments | (1.2) |  |  | (2.1) |  |  | (3.3) |
Balance as of February 28, 2023 | $ | 1,012.3 |  |  | $ | 68.0 |  |  | $ | 1,080.3 |
| ABL |  | ISG |  | Total
Balance as of August 31, 2021 | $ | 1,022.2 |  |  | $ | 72.5 |  |  | $ | 1,094.7 |
Adjustments to provisional amounts from acquired businesses | 0.6 |  |  | — |  |  | 0.6 |
Foreign currency translation adjustments | (2.6) |  |  | (0.3) |  |  | (2.9) |
Balance as of February 28, 2022 | $ | 1,020.2 |  |  | $ | 72.2 |  |  | $ | 1,092.4 |
Further discussion of goodwill and other intangible assets is included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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