Goodwill And Other Intangible Assets

12 Months Ended

Aug. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS

The following table details the changes in the carrying amount of goodwill by reportable segment:



	Americas						International
(in thousands)	Recycling		Mills		Fabrication		Mill			Marketing and Distribution			Consolidated
Balance at August 31, 2010	$	7,267	$	295	$	57,144	$	2,820		$	4,054		$	71,580
G.A.M. acquisition	—		—		—		—			5,047			5,047
Translation	—		—		—		272			739			1,011
Balance at August 31, 2011	7,267		295		57,144		3,092			9,840			77,638
Translation	—		—		—		(407		)	(334		)	(741		)
Balance at August 31, 2012	$	7,267	$	295	$	57,144	$	2,685		$	9,506		$	76,897

The following intangible assets subject to amortization are included within other assets on the consolidated balance sheets as of August 31:



	2012						2011
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer base	$	33,928	$	17,133	$	16,795	$	34,128	$	12,714	$	21,414
Non-competition agreements	—		—		—		4,183		3,281		902
Favorable land leases	6,133		527		5,606		7,063		521		6,542
Brand name	4,113		1,394		2,719		4,207		803		3,404
Other	101		31		70		101		25		76
Total	$	44,275	$	19,085	$	25,190	$	49,682	$	17,344	$	32,338

Excluding goodwill, there are no other significant intangible assets with indefinite lives. Amortization expense for intangible assets for the years ended August 31, 2012, 2011, and 2010 was $5.9 million, $9.9 million, and $11.2 million, respectively. At August 31, 2012, the weighted average remaining useful lives of these intangible assets, excluding the favorable land leases in Poland, were five years. The weighted average lives of the favorable land leases were 77 years. Estimated amounts of amortization expense for the next five years are as follows:




Year	(in thousands)
2013	$	4,928
2014	4,880
2015	4,827
2016	3,191
2017	747

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details