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Goodwill | 12 Months Ended
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Aug. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill | Note 7 — Goodwill Changes in the carrying value of goodwill are as follows:
(In thousands) |  | Manufacturing |  |  | Wheels, Repair & Parts |  |  | Leasing & Services |  |  | Total |
Balance August 31, 2020 |  | $ | 87,043 |  |  | $ | 43,265 |  |  | $ | — |  |  | $ | 130,308 |
Translation and other adjustments |  |  | 1,802 |  |  |  | — |  |  |  | — |  |  |  | 1,802 |
Balance August 31, 2021 |  | $ | 88,845 |  |  | $ | 43,265 |  |  | $ | — |  |  | $ | 132,110 |
(In thousands) |  | Goodwill |
Gross goodwill balance before accumulated goodwill impairment losses and other reductions |  | $ | 294,660 |
Accumulated goodwill impairment losses |  |  | (138,234 | )
Accumulated other reductions |  |  | (24,316 | )
Balance August 31, 2021 |  | $ | 132,110 |
The Company performed its annual goodwill impairment test during the third quarter. For the a nnual impairment test during the third quarter of 2021, the Company utilized the qualitative assessment allowable under ASC 350 Intangibles – Goodwill and Other to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. This qualitative assessment may include, but is not limited to, reviewing factors such as macroeconomic considerations, industry and market trends, cost factors, entity-specific financial performance and other events, such as changes in the Company’s management, strategy and primary user base. If based on a review of qualitative factors, it is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. Based on our review of the qualitative factors, the Company determined for all three of our reporting unit goodwill balances, that a quantitative impairment analysis was not necessary, primarily as a result of positive macroeconomic trends and market indicators during the assessment period. As of August 31, 2021, our Manufacturing segment includes the North America Manufacturing reporting unit with a goodwill balance of $56.7 million and the Europe Manufacturing reporting unit with a goodwill balance of $32.1 million. Based on the results of the Company’s annual impairment test, we concluded that goodwill was not impaired.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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