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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Aug. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill by reportable segment is detailed in the following table:
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel GroupConsolidated
Goodwill, gross:
Balance, September 1, 2023$126,915 $265,012 $4,075 $396,002 
Acquisition adjustments(1)
— (1,808)— (1,808)
Foreign currency translation— 1,364 262 1,626 
Balance at August 31, 2024126,915 264,568 4,337 395,820 
Foreign currency translation— 955 271 1,226 
Balance at August 31, 2025126,915 265,523 4,608 397,046 
Accumulated impairment:
Balance, September 1, 2023(9,542)(493)(146)(10,181)
Foreign currency translation— — (9)(9)
Balance at August 31, 2024(9,542)(493)(155)(10,190)
Foreign currency translation— — (10)(10)
Balance at August 31, 2025(9,542)(493)(165)(10,200)
Goodwill, net:
Balance, September 1, 2023117,373 264,519 3,929 385,821 
Acquisition adjustments(1)
— (1,808)— (1,808)
Foreign currency translation— 1,364 253 1,617 
Balance at August 31, 2024117,373 264,075 4,182 385,630 
Foreign currency translation— 955 261 1,216 
Balance at August 31, 2025$117,373 $265,030 $4,443 $386,846 
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(1) Measurement period adjustments related to the 2023 Acquisitions which impacted the amount of goodwill originally reported.

During 2025, 2024 and 2023, the annual goodwill impairment assessments, which were performed as of the first day of the Company's fourth quarter (the "annual impairment test date"), did not result in any impairment charges. For the year ended August 31, 2025, the Company performed qualitative assessments for seven reporting units consisting of $120.3 million of goodwill as of the 2025 annual impairment test date and quantitative tests for two reporting units consisting of $194.5 million and $71.7 million of goodwill as of the 2025 annual impairment test date. The results of the qualitative assessments and quantitative tests indicated that it was more likely than not that the fair value of all reporting units exceeded their carrying values. The difference in the value of goodwill between the 2025 annual impairment test date and August 31, 2025 was due to foreign currency translation adjustments.
Other indefinite-lived intangible assets consisted of the following:
(in thousands)August 31, 2025August 31, 2024
Trade names$54,813 $54,531 
In-process research and development2,400 2,400 
Non-compete agreements750 750 
Total$57,963 $57,681 

During 2025, 2024 and 2023, the Company did not record any indefinite-lived intangible asset impairment charges. As of the 2025 annual impairment test date, the Company had $57.9 million of indefinite-lived intangible assets, of which $54.7 million were tested for impairment using a quantitative approach. Based on the quantitative tests performed, the Company concluded it was more likely than not that the estimated fair values of the indefinite-lived intangible assets were greater than their respective carrying values. The changes in the balance of intangible assets with indefinite lives from August 31, 2024 to August 31, 2025 and from the 2025 annual impairment test date to August 31, 2025 were due to foreign currency translation adjustments.

Other intangible assets subject to amortization are detailed in the following table:
 August 31, 2025August 31, 2024
(in thousands)Gross
Carrying Amount		Accumulated AmortizationNetGross
Carrying Amount		Accumulated AmortizationNet
Developed technologies$153,844 $60,882 $92,962 $152,659 $43,540 $109,119 
Customer relationships75,304 24,663 50,641 75,000 16,118 58,882 
Patents9,111 7,338 1,773 7,970 6,595 1,375 
Lease rights6,804 1,200 5,604 6,404 1,049 5,355 
Other6,084 4,212 1,872 5,937 3,480 2,457 
Total$251,147 $98,295 $152,852 $247,970 $70,782 $177,188 

The foreign currency translation adjustments for intangible assets subject to amortization were immaterial for all periods presented above.

Amortization expense for intangible assets was $27.1 million, $28.3 million and $25.9 million in 2025, 2024 and 2023, respectively, including $17.2 million, $18.2 million and $18.7 million, respectively, recorded in cost of goods sold, with the remainder recognized in SG&A expenses in the consolidated statements of earnings. Estimated amortization expense for the next five years is as follows:
Year Ended August 31,(in thousands)
2026$26,097 
202725,971 
202824,121 
202919,535 
203018,010