Goodwill

In the second quarter of fiscal 2012, the Company performed its annual goodwill impairment testing by comparing the fair value of each reporting unit with its carrying value, including goodwill. As a result of this testing, the Company determined that the fair value of each of its reporting units was substantially in excess of its respective carrying value and the goodwill balance was not impaired. The Company will continue to monitor its goodwill for possible future impairment.

The gross changes in the carrying amount of goodwill by reporting segment for the six months ended February 29, 2012 were as follows (in thousands):



	Metals Recycling Business			Auto Parts Business			Total
Balance as of August 31, 2011	$	464,646		$	163,159		$	627,805
Purchase price adjustment	1,540			—			1,540
Purchase accounting adjustments	370			—			370
Foreign currency translation adjustment	(1,417		)	(219		)	(1,636		)
Balance as of February 29, 2012	$	465,139		$	162,940		$	628,079

There were no accumulated goodwill impairment charges as of February 29, 2012.