Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Gross Change in Carrying Amount of Goodwill

The gross change in the carrying amount of goodwill for the years ended August 31, 2023 and 2022 was as follows (in thousands):

	Goodwill
Balance as of September 1, 2021	$	170,304
Additions(1)		84,040
Measurement period adjustments(2)		1,657
Foreign currency translation adjustment		(803	)
Balance as of August 31, 2022		255,198
Additions(1)		14,759
Measurement period adjustments(2)		(725	)
Impairments		(39,270	)
Foreign currency translation adjustment		(543	)
Balance as of August 31, 2023	$	229,419

(1)Additions to goodwill in fiscal 2022 relate to the Columbus Recycling and Encore Recycling businesses acquired on October 1, 2021 and April 29, 2022, respectively. Additions to goodwill in fiscal 2023 relate to the ScrapSource business acquired on November 18, 2022. All additions are presented exclusive of measurement period adjustments. See Note 7 - Business Acquisitions.

(2)Measurement period adjustments in fiscal 2022 relate to the acquired Columbus Recycling and Encore Recycling businesses. Measurement period adjustments in fiscal 2023 relate to the acquired ScrapSource and Encore Recycling businesses.

Schedule of Other Intangible Assets

The following table presents the Company’s other intangible assets as of August 31 (in thousands):

	2023							2022
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Covenants not to compete	$	8,756	$	(4,796	)	$	3,960	$	7,780	$	(4,442	)	$	3,338
Supplier relationships		31,299		(6,720	)		24,579		20,924		(2,433	)		18,491
Customer relationships		3,846		(926	)		2,920		3,626		(381	)		3,245
Indefinite-lived intangibles(1)		1,081		—			1,081		1,081		—			1,081
Total	$	44,982	$	(12,442	)	$	32,540	$	33,411	$	(7,256	)	$	26,155

(1)Indefinite-lived intangibles include previously acquired trade names and certain permits and licenses.

Schedule of Estimated Amortization Expenses

The estimated amortization expense, based on current intangible asset balances, during the next five fiscal years and thereafter is as follows (in thousands):

Years Ending August 31,	Estimated Amortization Expense
2024	$	6,189
2025		6,116
2026		6,116
2027		6,113
2028		5,667
Thereafter		1,258
Total	$	31,459