v3.22.4
GOODWILL AND OTHER INTANGIBLES (Tables)
 3 Months Ended
Nov. 30, 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 AmericaEuropeConsolidated
Goodwill, gross
Balance at September 1, 2022$216,059 $43,115 $259,174 
Acquisitions28,891 — 28,891 
Foreign currency translation— (442)(442)
Balance at November 30, 2022244,950 42,673 287,623 
Accumulated impairment
Balance at September 1, 2022(10,036)(129)(10,165)
Foreign currency translation— (5)(5)
Balance at November 30, 2022(10,036)(134)(10,170)
Goodwill, net
Balance at September 1, 2022206,023 42,986 249,009 
Acquisitions28,891 — 28,891 
Foreign currency translation— (447)(447)
Balance at November 30, 2022$234,914 $42,539 $277,453 

Intangible assets subject to amortization are detailed in the following table:
 November 30, 2022August 31, 2022
(in thousands)Weighted Average Useful Lives in YearsGross
Carrying Amount		Accumulated AmortizationNetGross
Carrying Amount		Accumulated AmortizationNet
Developed technologies
1 to 12
$147,400 $11,128 $136,272 $147,040 $6,485 $140,555 
Customer relationships
12 to 17
53,145 3,186 49,959 53,115 2,116 50,999 
Perpetual lease rights
80
3,752 790 2,962 3,584 744 2,840 
Patents
5 to 15
7,347 4,841 2,506 7,203 4,596 2,607 
Trade names
 5 to 15
3,210 853 2,357 3,212 764 2,448 
Non-compete agreements
5 to 7
2,300 1,224 1,076 3,050 1,135 1,915 
Other
15
101 100 1 101 99 2 
Total$217,255 $22,122 $195,133 $217,305 $15,939 $201,366 

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

The gross carrying amount of the Company's intangible assets with indefinite lives was $56.7 million and $56.8 million as of November 30, 2022 and August 31, 2022, respectively. The change in the balance from August 31, 2022 to November 30, 2022 was due to foreign currency translation adjustments. Intangible assets with indefinite lives consist primarily of trade names with gross carrying amounts of $53.5 million and $53.6 million at November 30, 2022 and August 31, 2022, respectively, and in-process research and development with a gross carrying amount of $2.4 million at both November 30, 2022 and August 31, 2022.
Amortization expense for intangible assets was $6.1 million in the three months ended November 30, 2022, of which $4.6 million was recorded in cost of goods sold and $1.5 million was recorded in selling, general and administrative expenses in the condensed consolidated statements of earnings. The Company recorded immaterial amortization expense for intangible assets in the three months ended November 30, 2021. Estimated amounts of amortization expense for intangible assets for the next five years are as follows:
(in thousands)
Remainder of 2023
$18,307 
202423,604 
202521,868 
202620,662 
202720,555