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GOODWILL AND OTHER INTANGIBLES
 9 Months Ended
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.