GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Aug. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill

Goodwill by reportable segment is detailed in the following table:

(in thousands)		North America		Europe		Consolidated
Goodwill, gross:
Balance at September 1, 2020		$	71,941	$	2,579	$	74,520
	Acquisition	—		1,909		1,909
	Foreign currency translation	—		(98)		(98)
Balance at August 31, 2021		71,941		4,390		76,331
	Acquisition	144,118		42,687		186,805
	Foreign currency translation	—		(3,962)		(3,962)
Balance at August 31, 2022		216,059		43,115		259,174
Accumulated impairment:
Balance at September 1, 2020		(10,036)		(163)		(10,199)
	Foreign currency translation	—		5		5
Balance at August 31, 2021		(10,036)		(158)		(10,194)
	Foreign currency translation	—		29		29
Balance at August 31, 2022		(10,036)		(129)		(10,165)
Goodwill, net:
Balance at September 1, 2020		61,905		2,416		64,321
	Acquisition	—		1,909		1,909
	Foreign currency translation	—		(93)		(93)
Balance at August 31, 2021		61,905		4,232		66,137
	Acquisition	144,118		42,687		186,805
	Foreign currency translation	—		(3,933)		(3,933)
Balance at August 31, 2022		$	206,023	$	42,986	$	249,009

Intangible assets subject to amortization

Other intangible assets subject to amortization are detailed in the following table:

		August 31, 2022						August 31, 2021
(in thousands)	Weighted Average Useful Lives in Years	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Patents	5 to 7.5	$	7,203	$	4,596	$	2,607	$	7,203	$	3,621	$	3,582
Customer relationships	8	660		660		—		6,079		5,629		450
Perpetual lease rights	80	3,584		744		2,840		4,395		860		3,535
Non-compete agreements	5 to 7	3,050		1,135		1,915		3,050		778		2,272
Other	5 to 15	939		767		172		939		677		262
Due to acquisition of Tensar:
Developed technologies	1 to 11	147,040		6,485		140,555		—		—		—
Customer relationships	12 to 17	52,455		1,456		50,999		—		—		—
Trade names	8 to 9	2,374		96		2,278		—		—		—
Total		$	217,305	$	15,939	$	201,366	$	21,666	$	11,565	$	10,101

The foreign currency translation adjustments related to the intangible assets subject to amortization were immaterial for all periods presented above.

Amortization expense for intangible assets was $10.0 million in 2022, of which $6.4 million was recorded in cost of goods sold and $3.6 million was recorded in selling, general and administrative expenses in the consolidated statements of earnings. Amortization expense for intangible assets was $2.1 million in 2021 and 2020, all of which was recorded in selling, general and administrative expenses in the consolidated statements of earnings. Estimated amortization expense for the next five years is as follows:

Year Ended August 31,	(in thousands)
2023	$	24,389
2024	23,590
2025	21,840
2026	20,622
2027	20,515

Intangible assets with indefinite lives primarily resulted from the acquisition of Tensar and include trade names and in-process research and development with gross carrying amounts of $53.6 million and $2.4 million, respectively, at August 31, 2022. The Company did not have any significant intangible assets with indefinite lives at August 31, 2021. During 2022, a qualitative assessment was performed to evaluate the fair value of the indefinite lived intangible assets compared to their carrying values. Based on the qualitative assessments performed, the Company concluded it to be more likely than not that the estimated fair values for indefinite lived intangible assets were greater than their respective carrying values and did not record any indefinite lived intangible asset impairment charges in 2022.