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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in the carrying amount of goodwill | Goodwill by reportable segment is detailed in the following table:
(in thousands) |  | North America |  | Europe |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Consolidated
Goodwill, gross: |  |  |  |  |  |  |  |  |  |  |  |
Balance, September 1, 2022 |  | $ | 216,059 |  |  | $ | 43,115 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 259,174 |
Acquisitions |  | 135,382 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 135,382 |
Foreign currency translation |  | — |  |  | 1,446 |  |  | — |  |  | — |  |  | — |  |  | 1,446 |
Balance at August 31, 2023 |  | 351,441 |  |  | 44,561 |  |  | — |  |  | — |  |  | — |  |  | 396,002 |
Segment reassignment |  | (351,441) |  |  | (44,561) |  |  | 126,915 |  |  | 4,075 |  |  | 265,012 |  |  | — |
Acquisition adjustments(1) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,808) |  |  | (1,808) |
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | 262 |  |  | 1,364 |  |  | 1,626 |
Balance at August 31, 2024 |  | — |  |  | — |  |  | 126,915 |  |  | 4,337 |  |  | 264,568 |  |  | 395,820 |
Accumulated impairment: |  |  |  |  |  |  |  |  |  |  |  |
Balance, September 1, 2022 |  | (10,036) |  |  | (129) |  |  | — |  |  | — |  |  | — |  |  | (10,165) |
Foreign currency translation |  | — |  |  | (16) |  |  | — |  |  | — |  |  | — |  |  | (16) |
Balance at August 31, 2023 |  | (10,036) |  |  | (145) |  |  | — |  |  | — |  |  | — |  |  | (10,181) |
Segment reassignment |  | 10,036 |  |  | 145 |  |  | (9,542) |  |  | (146) |  |  | (493) |  |  | — |
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | (9) |  |  | — |  |  | (9) |
Balance at August 31, 2024 |  | — |  |  | — |  |  | (9,542) |  |  | (155) |  |  | (493) |  |  | (10,190) |
Goodwill, net: |  |  |  |  |  |  |  |  |  |  |  |
Balance, September 1, 2022 |  | 206,023 |  |  | 42,986 |  |  | — |  |  | — |  |  | — |  |  | 249,009 |
Acquisitions |  | 135,382 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 135,382 |
Foreign currency translation |  | — |  |  | 1,430 |  |  | — |  |  | — |  |  | — |  |  | 1,430 |
Balance at August 31, 2023 |  | 341,405 |  |  | 44,416 |  |  | — |  |  | — |  |  | — |  |  | 385,821 |
Segment reassignment |  | (341,405) |  |  | (44,416) |  |  | 117,373 |  |  | 3,929 |  |  | 264,519 |  |  | — |
Acquisition adjustments(1) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,808) |  |  | (1,808) |
Foreign currency translation |  | — |  |  | — |  |  | — |  |  | 253 |  |  | 1,364 |  |  | 1,617 |
Balance at August 31, 2024 |  | $ | — |  |  | $ | — |  |  | $ | 117,373 |  |  | $ | 4,182 |  |  | $ | 264,075 |  |  | $ | 385,630 |
__________________________________ (1) Measurement period adjustments related to the 2023 Acquisitions which impacted the amount of goodwill originally reported.
Schedule of Indefinite-Lived Intangible Assets | Other indefinite-lived intangible assets consisted of the following:
(in thousands) |  | August 31, 2024 |  | August 31, 2023
Trade names |  | $ | 54,531 |  |  | $ | 54,056 |
In-process research and development |  | 2,400 |  |  | 2,400 |
Non-compete agreements |  | 750 |  |  | 750 |
Total |  | $ | 57,681 |  |  | $ | 57,206 |
Intangible assets subject to amortization | Other intangible assets subject to amortization are detailed in the following table:
|  |  |  | August 31, 2024 |  | August 31, 2023
(in thousands) |  |  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Developed technologies |  |  |  | $ | 152,659 |  |  | $ | 43,540 |  |  | $ | 109,119 |  |  | $ | 150,445 |  |  | $ | 25,228 |  |  | $ | 125,217 |
Customer relationships |  |  |  | 75,000 |  |  | 16,118 |  |  | 58,882 |  |  | 74,582 |  |  | 7,606 |  |  | 66,976 |
Patents |  |  |  | 7,970 |  |  | 6,595 |  |  | 1,375 |  |  | 7,203 |  |  | 5,570 |  |  | 1,633 |
Perpetual lease rights |  |  |  | 6,404 |  |  | 1,049 |  |  | 5,355 |  |  | 5,984 |  |  | 910 |  |  | 5,074 |
Trade names |  |  |  | 3,413 |  |  | 1,474 |  |  | 1,939 |  |  | 3,287 |  |  | 1,129 |  |  | 2,158 |
Non-compete agreements |  |  |  | 2,300 |  |  | 1,859 |  |  | 441 |  |  | 2,300 |  |  | 1,502 |  |  | 798 |
Other |  |  |  | 224 |  |  | 147 |  |  | 77 |  |  | 224 |  |  | 125 |  |  | 99 |
Total |  |  |  | $ | 247,970 |  |  | $ | 70,782 |  |  | $ | 177,188 |  |  | $ | 244,025 |  |  | $ | 42,070 |  |  | $ | 201,955 |
Estimated future amortization expense of intangible assets | Estimated amortization expense for the next five years is as follows:
Year Ended August 31, |  | (in thousands)
2025 |  | $ | 26,821 |
2026 |  | 25,596 |
2027 |  | 25,499 |
2028 |  | 23,772 |
2029 |  | 19,178 |

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