Goodwill

6 Months Ended

Feb. 28, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Changes in the carrying amount of goodwill by segment for the six months ended February 28, 2021 are as follows: 

(in thousands)	Americas		EMEA		Asia Pacific		Total
Balance at August 31, 2020	$	386,195	$	320,427	$	3,081	$	709,703
Acquisitions	30,058		—		—		30,058
Foreign currency translations	—		6,299		(19)		6,280
Balance at February 28, 2021	$	416,253	$	326,726	$	3,062	$	746,041

Goodwill is not amortized as it is estimated to have an indefinite life. At least annually, the Company is required to test goodwill at the reporting unit level for potential impairment, and, if impaired, write down to fair value based on the present value of discounted cash flows. The Company’s reporting units evaluated for potential impairment were the Americas, EMEA and Asia Pacific, which reflect the level of internal reporting the Company uses to manage its business and operations. The three reporting units are consistent with the reported operating segments as there is no discrete financial information available for the subsidiaries within each operating segment. The Company performed its annual goodwill impairment test during the fourth quarter of fiscal 2020, consistent with the timing of previous years, utilizing a qualitative analysis, and concluded it was more likely than not the fair value of each reporting unit was greater than its respective carrying value and no impairment charge was required.