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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Feb. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and other intangible assets | NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS The following table details the changes in the carrying amount of goodwill by reportable segment:
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other* |  | Consolidated
Goodwill, gross |  |  |  |  |  |  |  |  |  |  |  |
Balance at August 31, 2017 |  | $ | 9,751 |  |  | $ | 4,970 |  |  | $ | 57,943 |  |  | $ | 2,664 |  |  | $ | 1,982 |  |  | $ | 77,310 |
| Acquisitions |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| Foreign currency translation |  | — |  |  | — |  |  | — |  |  | 110 |  |  | — |  |  | 110 |
| Impairment |  | — |  |  | — |  |  | (514 | ) |  | — |  |  | — |  |  | (514 | )
| Reclassification to assets of discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,982 | ) |  | (1,982 | )
Balance at February 28, 2018 |  | $ | 9,751 |  |  | $ | 4,970 |  |  | $ | 57,429 |  |  | $ | 2,774 |  |  | $ | — |  |  | $ | 74,924 |
Accumulated impairment losses |  |  |  |  |  |  |  |  |  |  |  |
Balance at August 31, 2017 |  | $ | (9,751 | ) |  | $ | — |  |  | $ | (493 | ) |  | $ | (169 | ) |  | $ | (1,982 | ) |  | $ | (12,395 | )
| Foreign currency translation |  | — |  |  | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | )
| Reclassification to assets of discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,982 |  |  | 1,982 |
Balance at February 28, 2018 |  | $ | (9,751 | ) |  | $ | — |  |  | $ | (493 | ) |  | $ | (176 | ) |  | $ | — |  |  | $ | (10,420 | )
Goodwill, net |  |  |  |  |  |  |  |  |  |  |  |
Balance at August 31, 2017 |  | $ | — |  |  | $ | 4,970 |  |  | $ | 57,450 |  |  | $ | 2,495 |  |  | $ | — |  |  | $ | 64,915 |
| Acquisitions |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| Foreign currency translation |  | — |  |  | — |  |  | — |  |  | 103 |  |  | — |  |  | 103 |
| Impairment |  | — |  |  | — |  |  | (514 | ) |  | — |  |  | — |  |  | (514 | )
Balance at February 28, 2018 |  | $ | — |  |  | $ | 4,970 |  |  | $ | 56,936 |  |  | $ | 2,598 |  |  | $ | — |  |  | $ | 64,504 |
* Other relates to goodwill for the International Marketing and Distribution segment which was moved to discontinued operations during the three months ended February 28, 2018. The total gross carrying amounts of the Company's intangible assets that are subject to amortization were $21.5 million and $19.7 million at February 28, 2018 and August 31, 2017, respectively, and are included in other noncurrent assets on the Company's unaudited condensed consolidated balance sheets. As part of the Company's purchase of substantially all of the assets of MMFX Technologies Corporation ("MMFX") during the first fiscal quarter of 2018, the Company acquired patents which were assigned a value of $7.0 million with a useful life of 7.5 years. See Note 2, Changes in Business, to the unaudited condensed consolidated financial statements included in the November 30, 2017 Quarterly Report on Form 10-Q for more information with respect to the MMFX acquisition. Intangible amortization expense from continuing operations was $0.6 million and $1.1 million for the three and six months ended February 28, 2018, respectively, and $0.7 million and $0.9 million for the three and six months ended February 28, 2017, respectively. The three and six months ended February 28, 2018 include goodwill impairment charges of $0.5 million related to the Company's sale of its structural steel fabrication assets as discussed in Note 2, Changes in Business. See Note 9, Fair Value, for further discussion related to the impairment. Excluding goodwill, there were no significant intangible assets with indefinite lives as of February 28, 2018.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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