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GOODWILL AND OTHER INTANGIBLES (Tables)
 9 Months Ended
May 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the carrying amount of goodwill
Goodwill by reportable segment at May 31, 2019 is detailed in the following table:
(in thousands)
 
Americas Recycling
 
Americas Mills
 
Americas Fabrication
 
International Mill
 
Consolidated
Goodwill, gross*
 
$
9,543

 
$
4,970

 
$
57,428

 
$
2,478

 
$
74,419

Accumulated impairment losses*
 
(9,543
)
 
—

 
(493
)
 
(157
)
 
(10,193
)
Goodwill, net*
 
$
—

 
$
4,970

 
$
56,935

 
$
2,321

 
$
64,226

 _________________ 
* The change in balance from August 31, 2018 was immaterial.
Amortizable intangible assets and liabilities
The amortizable intangible (liabilities) acquired consisted of:
(in thousands, except life in years)
 
Life in Years
 
Estimated Fair Value
Net unfavorable lease contracts
 
Various
 
$
(2,705
)
Unfavorable contract backlog
 
1-2 years*
 
$
(110,166
)
 _________________ 
* Amortization will correspond with completion of the acquired contracts, which is estimated to occur over the next 1 to 2 years.