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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Feb. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and other intangible assets | NOTE 8. GOODWILL AND OTHER INTANGIBLES 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 |  | Consolidated
Goodwill, gross |  |  |  |  |  |  |  |  |  |
Balance, August 31, 2018 |  | $ | 9,543 |  |  | $ | 4,970 |  |  | $ | 57,428 |  |  | $ | 2,568 |  |  | $ | 74,509 |
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | (56 | ) |  | (56 | )
Impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Reclassification to assets of discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance, February 28, 2019 |  | $ | 9,543 |  |  | $ | 4,970 |  |  | $ | 57,428 |  |  | $ | 2,512 |  |  | $ | 74,453 |
Accumulated impairment losses |  |  |  |  |  |  |  |  |  |
Balance, August 31, 2018 |  | $ | (9,543 | ) |  | $ | — |  |  | $ | (493 | ) |  | $ | (163 | ) |  | $ | (10,199 | )
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Reclassification to assets of discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance, February 28, 2019 |  | $ | (9,543 | ) |  | $ | — |  |  | $ | (493 | ) |  | $ | (160 | ) |  | $ | (10,196 | )
Goodwill, net |  |  |  |  |  |  |  |  |  |
Balance, August 31, 2018 |  | $ | — |  |  | $ | 4,970 |  |  | $ | 56,935 |  |  | $ | 2,405 |  |  | $ | 64,310 |
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | (53 | ) |  | (53 | )
Impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance, February 28, 2019 |  | $ | — |  |  | $ | 4,970 |  |  | $ | 56,935 |  |  | $ | 2,352 |  |  | $ | 64,257 |
The total gross carrying amounts of the Company's intangible assets subject to amortization were $22.2 million and $20.5 million at February 28, 2019 and August 31, 2018, respectively, and were included in other noncurrent assets on the Company's unaudited condensed consolidated balance sheets. Intangible amortization expense from continuing operations related to such intangible assets was $0.6 million and $1.1 million for the three and six months ended February 28, 2019 and 2018, respectively. Excluding goodwill, the Company did not have any significant intangible assets with indefinite lives as of February 28, 2019. The amortizable intangible assets (liabilities) acquired consisted of:
(in thousands, except life in years) |  | Life in Years |  | Estimated Fair Value Adjusted
Net unfavorable lease contracts |  | Various |  | $ | (2,705 | )
Unfavorable contract backlog |  | 1-2 years* |  | $ | (110,166 | )
* Amortization will correspond with completion of the acquired contracts, which is estimated to occur over the next 1 to 2 years. In connection with the acquisition of the Acquired Businesses, the Company recorded a preliminary unfavorable contract backlog liability of $110.2 million. Amortization of the backlog for the three and six months ended February 28, 2019 was $23.5 million and $34.8 million, respectively, and was recorded as an increase to net sales in the Company's unaudited condensed consolidated statement of earnings.

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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