GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

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 September 1, 2017		$	9,751		$	4,970	$	57,943		$	2,664		$	1,982		$	77,310
	Dispositions, impairments and foreign currency translation	(208		)	—		(515		)	(96		)	—			(819		)
	Reclassification to assets of discontinued operations	—			—		—			—			(1,982		)	(1,982		)
Balance at August 31, 2018		9,543			4,970		57,428			2,568			—			74,509
	Dispositions, impairments and foreign currency translation	—			—		—			(184		)	—			(184		)
Balance at August 31, 2019		9,543			4,970		57,428			2,384			—			74,325

Accumulated impairment losses
Balance at September 1, 2017		(9,751		)	—		(493		)	(169		)	(1,982		)	(12,395		)
	Dispositions, impairments and foreign currency translation	208			—		—			6			—			214
	Reclassification to assets of discontinued operations	—			—		—			—			1,982			1,982
Balance at August 31, 2018		(9,543		)	—		(493		)	(163		)	—			(10,199		)
	Dispositions, impairments and foreign currency translation	—			—		—			12			—			12
Balance at August 31, 2019		(9,543		)	—		(493		)	(151		)	—			(10,187		)

Goodwill, net
Balance at September 1, 2017		—			4,970		57,450			2,495			—			64,915
	Dispositions, impairments and foreign currency translation	—			—		(515		)	(90		)	—			(605		)
Balance at August 31, 2018		—			4,970		56,935			2,405			—			64,310
	Dispositions, impairments and foreign currency translation	—			—		—			(172		)	—			(172		)
Balance at August 31, 2019		$	—		$	4,970	$	56,935		$	2,233		$	—		$	64,138

_________________

*Corporate and Other in 2017 and 2018 includes goodwill for the International Marketing and Distribution segment which was reclassified as discontinued operations during 2018.

As of August 31, 2019 and 2018, one of the Company's reporting units within the Americas Fabrication reporting segment comprised $51.1 million of the Company's total goodwill. Based on the results of our 2019 annual goodwill impairment analysis, the fair value of this reporting unit exceeded its carrying value by 29.3%. For all other reporting units, the excess of the fair value over carrying value of each reporting unit was substantial. Goodwill impairment charges were not material for 2019, 2018, or 2017.

The following intangible assets subject to amortization are included in other noncurrent assets on the Company's consolidated balance sheets:



	August 31, 2019						August 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer base	$	6,088	$	4,081	$	2,007	$	6,254	$	3,416	$	2,838
Favorable land leases	4,146		749		3,397		4,476		755		3,721
Non-compete agreements	2,810		382		2,428		1,750		798		952
Brand name	628		454		174		928		662		266
Patents	6,993		1,709		5,284		6,993		777		6,216
Other	101		79		22		101		72		29
Total	$	20,766	$	7,454	$	13,312	$	20,502	$	6,480	$	14,022

Favorable land leases at August 31, 2019 are related to perpetual lease rights which have an estimated useful life of 85 years. All other intangible assets with definitive lives are amortized over estimated useful lives ranging from 3 to 15 years. Excluding goodwill, the Company does not have any other significant intangible assets with indefinite lives. Amortization expense for intangible assets from continuing operations was $2.2 million for 2019 and 2018, and $2.1 million for 2017. Estimated amounts of amortization expense for the next five years are as follows.



Year Ended August 31,	(in thousands)
2020	$	2,047
2021	2,025
2022	1,748
2023	1,289
2024	1,252