GOODWILL AND OTHER INTANGIBLES

9 Months Ended

May 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by reportable segment at May 31, 2021 is detailed in the following table:



(in thousands)	North America		Europe		Consolidated
Goodwill, gross*	$	71,941	$	4,590	$	76,531
Accumulated impairment losses*	(10,036)		(164)		(10,200)
Goodwill, net*	$	61,905	$	4,426	$	66,331

_________________

* The change in balance from August 31, 2020 was immaterial.

The total gross carrying amounts of the Company's intangible assets subject to amortization were $21.9 million and $22.1 million, and the total net carrying amounts were $11.0 million and $12.6 million at May 31, 2021 and August 31, 2020, respectively. These assets 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 immaterial for the three and nine months ended May 31, 2021 and 2020. Excluding goodwill, the Company did not have any significant intangible assets with indefinite lives at May 31, 2021.

At May 31, 2021 and August 31, 2020, the net carrying amount of the acquired unfavorable contract backlog liability was $1.5 million and $6.0 million, respectively. Amortization of the acquired unfavorable contract backlog was $1.5 million and $4.5 million for the three and nine months ended May 31, 2021, respectively, and $4.4 million and $18.7 million for the corresponding periods, and was recorded as an increase to net sales in the Company’s condensed consolidated statements of earnings.