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GOODWILL AND OTHER INTANGIBLES | 9 Months Ended
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May 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and other intangibles | NOTE 8. GOODWILL AND OTHER INTANGIBLES Goodwill by reportable segment at May 31, 2019 is detailed in the following table:
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Consolidated
Goodwill, gross* |  | $ | 9,543 |  |  | $ | 4,970 |  |  | $ | 57,428 |  |  | $ | 2,478 |  |  | $ | 74,419 |
Accumulated impairment losses* |  | (9,543 | ) |  | — |  |  | (493 | ) |  | (157 | ) |  | (10,193 | )
Goodwill, net* |  | $ | — |  |  | $ | 4,970 |  |  | $ | 56,935 |  |  | $ | 2,321 |  |  | $ | 64,226 |
_________________ * The change in balance from August 31, 2018 was immaterial. The total gross carrying amounts of the Company's intangible assets subject to amortization were $21.8 million and $20.5 million at May 31, 2019 and August 31, 2018, respectively, and were included in other noncurrent assets on the Company's condensed consolidated balance sheets. Intangible amortization expense from continuing operations related to such intangible assets was $0.6 million for both the three months ended May 31, 2019 and May 31, 2018, and $1.7 million and $1.6 million for the nine months ended May 31, 2019 and 2018, respectively. Excluding goodwill, the Company did not have any significant intangible assets with indefinite lives as of May 31, 2019. The amortizable intangible (liabilities) acquired consisted of:
(in thousands, except life in years) |  | Life in Years |  | Estimated Fair Value
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 nine months ended May 31, 2019 was $23.4 million and $58.2 million, respectively, and was recorded as an increase to net sales in the Company's 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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