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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Aug. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS The following table details the changes in the carrying amount of goodwill by reportable segment:
(in thousands) |  |  | North America |  | Europe |  | Consolidated
Goodwill, gross |  |  |  |  |  |  |
Balance at September 1, 2018 |  |  | $ | 71,941 |  |  | $ | 2,568 |  |  | $ | 74,509 |
| Foreign currency translation |  | — |  |  | (184) |  |  | (184) |
Balance at August 31, 2019 |  |  | 71,941 |  |  | 2,384 |  |  | 74,325 |
| Foreign currency translation |  | — |  |  | 195 |  |  | 195 |
Balance at August 31, 2020 |  |  | 71,941 |  |  | 2,579 |  |  | 74,520 |
Accumulated impairment losses |  |  |  |  |  |  |
Balance at September 1, 2018 |  |  | (10,036) |  |  | (163) |  |  | (10,199) |
| Foreign currency translation |  | — |  |  | 12 |  |  | 12 |
Balance at August 31, 2019 |  |  | (10,036) |  |  | (151) |  |  | (10,187) |
| Foreign currency translation |  | — |  |  | (12) |  |  | (12) |
Balance at August 31, 2020 |  |  | (10,036) |  |  | (163) |  |  | (10,199) |
Goodwill, net |  |  |  |  |  |  |
Balance at September 1, 2018 |  |  | 61,905 |  |  | 2,405 |  |  | 64,310 |
| Foreign currency translation |  | — |  |  | (172) |  |  | (172) |
Balance at August 31, 2019 |  |  | 61,905 |  |  | 2,233 |  |  | 64,138 |
| Foreign currency translation |  | — |  |  | 183 |  |  | 183 |
Balance at August 31, 2020 |  |  | $ | 61,905 |  |  | $ | 2,416 |  |  | $ | 64,321 |
As of August 31, 2020 and 2019, the excess of the fair value over the carrying value of each reporting unit was substantial. There were no goodwill impairment charges in 2020, 2019, or 2018. The following intangible assets subject to amortization are included in other noncurrent assets on the Company's consolidated balance sheets:
|  | August 31, 2020 |  |  |  |  |  | August 31, 2019 |  |  |  |
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | $ | 7,203 |  |  | $ | 2,647 |  |  | $ | 4,556 |  |  | $ | 6,993 |  |  | $ | 1,709 |  |  | $ | 5,284 |
Customer base |  | 6,111 |  |  | 4,900 |  |  | 1,211 |  |  | 6,088 |  |  | 4,081 |  |  | 2,007 |
Perpetual lease rights |  | 4,766 |  |  | 866 |  |  | 3,900 |  |  | 4,146 |  |  | 749 |  |  | 3,397 |
Non-compete agreements |  | 3,050 |  |  | 422 |  |  | 2,628 |  |  | 2,810 |  |  | 382 |  |  | 2,428 |
Brand name |  | 838 |  |  | 501 |  |  | 337 |  |  | 628 |  |  | 454 |  |  | 174 |
Other |  | 101 |  |  | 85 |  |  | 16 |  |  | 101 |  |  | 79 |  |  | 22 |
Total |  | $ | 22,069 |  |  | $ | 9,421 |  |  | $ | 12,648 |  |  | $ | 20,766 |  |  | $ | 7,454 |  |  | $ | 13,312 |
In connection with the Acquisition, the Company recorded an unfavorable contract backlog liability of $110.2 million. At August 31, 2020 and 2019, the net carrying amount of the liability was $6.0 million and $35.4 million, respectively. Amortization of the unfavorable contract backlog was $29.4 million and $74.8 million for the twelve months ended August 31, 2020 and 2019, respectively, and was recorded as an increase to net sales in the Company's consolidated statements of earnings. Perpetual lease rights at August 31, 2020 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 was $2.1 million for 2020 and $2.2 million for 2019 and 2018. Estimated amounts of amortization expense for the next five years are as follows.
Year Ended August 31, |  | (in thousands)
2021 |  | $ | 2,030 |
2022 |  | 1,755 |
2023 |  | 1,296 |
2024 |  | 1,259 |
2025 |  | 922 |

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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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