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Goodwill and Intangible Assets | 9 Months Ended
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May 31, 2024
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 $10.0 million and $9.2 million during the three months ended May 31, 2024 and 2023, respectively, and $29.9 million and $32.1 million during the nine months ended May 31, 2024 and 2023, respectively. The following table summarizes the changes in the carrying amount of goodwill by segment during the periods presented (in millions):
| ABL |  | ISG |  | Total
Balance at August 31, 2023 | $ | 1,014.4 |  |  | $ | 83.5 |  |  | $ | 1,097.9 |
Foreign currency translation adjustments | (0.7) |  |  | (0.5) |  |  | (1.2) |
Balance at May 31, 2024 | $ | 1,013.7 |  |  | $ | 83.0 |  |  | $ | 1,096.7 |
| ABL |  | ISG |  | Total
Balance at August 31, 2022 | $ | 1,014.2 |  |  | $ | 70.1 |  |  | $ | 1,084.3 |
Provisional amounts from acquired businesses | — |  |  | 15.2 |  |  | 15.2 |
Derecognitions for divestitures | (0.7) |  |  | — |  |  | (0.7) |
Foreign currency translation adjustments | (0.2) |  |  | (1.9) |  |  | (2.1) |
Balance at May 31, 2023 | $ | 1,013.3 |  |  | $ | 83.4 |  |  | $ | 1,096.7 |
Further discussion of goodwill and 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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