v3.26.3
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Aug. 31, 2026
Intangible Asset, Goodwill and Other [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 GroupConstruction Solutions GroupEurope Steel GroupConsolidated
Goodwill, gross:
Balance, September 1, 2024$126,915 $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 
Foreign currency translation— 558 (98)460 
Acquisitions— 1,751,305 — 1,751,305 
Balance at August 31, 2026126,915 2,017,386 4,510 2,148,811 
Accumulated impairment:
Balance, September 1, 2024(9,542)(493)(155)(10,190)
Foreign currency translation— — (10)(10)
Balance at August 31, 2025(9,542)(493)(165)(10,200)
Foreign currency translation— — 5 5 
Balance at August 31, 2026(9,542)(493)(160)(10,195)
Goodwill, net:
Balance, September 1, 2024117,373 264,075 4,182 385,630 
Foreign currency translation— 955 261 1,216 
Balance at August 31, 2025117,373 265,030 4,443 386,846 
Foreign currency translation— 558 (93)465 
Acquisitions— 1,751,305 — 1,751,305 
Balance at August 31, 2026$117,373 $2,016,893 $4,350 $2,138,616 

During 2026, 2025 and 2024, 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, 2026, the Company performed qualitative assessments for nine reporting units consisting of $1.9 billion of goodwill as of the 2026 annual impairment test date and quantitative tests for one reporting unit consisting of $195.0 million of goodwill as of the 2026 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 2026 annual impairment test date and August 31, 2026 was immaterial.
Other indefinite-lived intangible assets consisted of the following:
(in thousands)August 31, 2026August 31, 2025
Trade names$55,137 $54,813 
In-process research and development— 2,400 
Non-compete agreements750 750 
Total$55,887 $57,963 

During 2026, 2025 and 2024, the Company did not record any indefinite-lived intangible asset impairment charges. As of the 2026 annual impairment test date, the Company had $58.2 million of indefinite-lived intangible assets, of which $55.0 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, 2025 to August 31, 2026 and from the 2026 annual impairment test date to August 31, 2026 were due to the reclassification of an indefinite-lived in-process research and development intangible asset to a definite-lived developed technology intangible asset during the fourth quarter of 2026, as well as foreign currency translation adjustments.

Finite-lived intangible assets subject to amortization are detailed in the following table:
August 31, 2026August 31, 2025
(in thousands)Gross
Carrying Amount		Accumulated AmortizationNetGross
Carrying Amount		Accumulated AmortizationNet
Customer relationships$307,648 $49,979 $257,669 $75,304 $24,663 $50,641 
Developed technologies156,615 78,049 78,566 153,844 60,882 92,962 
Contract backlog79,000 57,229 21,771 — — — 
Trade names12,884 3,532 9,352 3,560 1,823 1,737 
Patents10,660 7,629 3,031 9,111 7,338 1,773 
Lease rights6,660 1,259 5,401 6,804 1,200 5,604 
Other2,523 2,519 4 2,524 2,389 135 
Total$575,990 $200,196 $375,794 $251,147 $98,295 $152,852 

The majority of the increases in customer relationship and trade name intangible assets, and the addition of the contract backlog intangible asset at August 31, 2026, as compared to August 31, 2025, were due to the Foley Acquisition and the CP&P Acquisition. For more information on the Foley Acquisition and the CP&P Acquisition, see Note 2, Acquisitions. The foreign currency translation adjustments for intangible assets subject to amortization were immaterial for all periods presented above.

Amortization expense for intangible assets recorded in the consolidated statements of earnings is as follows:
(in thousands)Year Ended August 31,
Primary Location202620252024
Cost of goods sold$75,381 $17,210 $18,188 
SG&A expenses26,342 9,869 10,116 
Total$101,723 $27,079 $28,304 

The increase in amortization expense during the year ended August 31, 2026, was primarily a result of the purchase of Foley and CP&P as outlined further in Note 2, Acquisitions.
Estimated amortization expense for the next five years is as follows:
Year Ended August 31,(in thousands)
2027$73,489 
202849,857 
202945,193 
203043,821 
203138,778