WD-40 (WDFC) 10-Q 9 Jul 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May. 31, 2015	Jul. 02, 2015
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	wdfc
Entity Registrant Name	WD 40 CO
Entity Central Index Key	105,132
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		14,488,132

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Current assets:
Cash and cash equivalents	$ 46,917	$ 57,803
Short-term investments	48,261	45,050
Trade and other accounts receivable, less allowance for doubtful accounts of $424 and $406 at May 31, 2015 and August 31, 2014 respectively	62,213	63,618
Inventories	33,203	34,989
Current deferred tax assets, net	5,709	5,855
Other current assets	4,066	8,339
Total current assets	200,369	215,654
Property and equipment, net	11,214	9,702
Goodwill	96,440	95,499
Other intangible assets, net	23,749	23,671
Other assets	3,262	3,154
Total assets	335,034	347,680
Current liabilities:
Accounts payable	18,502	18,031
Accrued liabilities	15,937	18,382
Revolving credit facility, current portion		98,000
Accrued payroll and related expenses	11,186	15,969
Income taxes payable	28	1,529
Total current liabilities	45,653	151,911
Revolving credit facility	108,000
Long-term deferred tax liabilities, net	23,142	24,253
Other long-term liabilities	2,250	2,101
Total liabilities	$ 179,045	$ 178,265
Commitments and contingencies (Note 11)
Shareholders' equity:
Common stock ― authorized 36,000,000 shares, $0.001 par value; 19,527,923 and 19,464,310 shares issued at May 31, 2015 and August 31, 2014, respectively; and 14,481,172 and 14,754,362 shares outstanding at May 31, 2015 and August 31, 2014, respectively	$ 20	$ 19
Additional paid-in capital	140,147	136,212
Retained earnings	254,503	237,596
Accumulated other comprehensive income (loss)	(7,280)	1,103
Common stock held in treasury, at cost ― 5,049,751 and 4,709,948 shares at May 31, 2015 and August 31, 2014, respectively	(231,401)	(205,515)
Total shareholders' equity	155,989	169,415
Total liabilities and shareholders' equity	$ 335,034	$ 347,680

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Statement Of Financial Position [Abstract]
Trade and other accounts receivable, allowance for doubtful accounts	$ 424	$ 406
Common stock, shares authorized	36,000,000	36,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	19,527,923	19,464,310
Common stock, shares outstanding	14,481,172	14,754,362
Treasury stock, shares	5,046,751	4,709,948

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Condensed Consolidated Statement of Operations [Abstract]
Net sales	$ 92,485	$ 95,650	$ 286,169	$ 285,375
Cost of products sold	43,213	46,511	135,963	138,005
Gross profit	49,272	49,139	150,206	147,370
Operating expenses:
Selling, general and administrative	26,640	26,887	81,424	80,237
Advertising and sales promotion	5,506	6,465	16,906	18,081
Amortization of definite-lived intangible assets	754	684	2,280	1,930
Total operating expenses	32,900	34,036	100,610	100,248
Income from operations	16,372	15,103	49,596	47,122
Other income (expense):
Interest income	113	136	425	425
Interest expense	(343)	(268)	(912)	(709)
Other expense	(444)	(11)	(1,785)	(454)
Income before income taxes	15,698	14,960	47,324	46,384
Provision for income taxes	4,733	4,554	14,240	14,179
Net income	$ 10,965	$ 10,406	$ 33,084	$ 32,205
Earnings per common share:
Basic	$ 0.75	$ 0.69	$ 2.25	$ 2.11
Diluted	$ 0.75	$ 0.69	$ 2.24	$ 2.10
Shares used in per share calculations:
Basic	14,546	14,977	14,616	15,152
Diluted	14,615	15,051	14,685	15,229
Dividends declared per common share	$ 0.38	$ 0.34	$ 1.10	$ 0.99

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Condensed Consolidated Statement Of Comprehensive Income [Abstract]
Net income	$ 10,965	$ 10,406	$ 33,084	$ 32,205
Other comprehensive (loss) income:
Foreign currency translation adjustment	(137)	805	(8,383)	7,235
Total comprehensive income	$ 10,828	$ 11,211	$ 24,701	$ 39,440

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - 9 months ended May. 31, 2015 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Beginning balance at Aug. 31, 2014	$ 19	$ 136,212	$ 237,596	$ 1,103	$ (205,515)	$ 169,415
Beginning balance, shares at Aug. 31, 2014	19,464,310				4,709,948
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes	$ 1	821				822
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes, shares	63,613
Stock-based compensation		2,205				2,205
Tax benefits from settlements of stock-based equity awards		909				909
Cash dividends ($1.10 per share)			(16,177)			(16,177)
Acquisition of treasury stock					$ (25,886)	(25,886)
Acquisition of treasury stock, shares					336,803
Foreign currency translation adjustment				(8,383)		(8,383)
Net income			33,084			33,084
Ending balance at May. 31, 2015	$ 20	$ 140,147	$ 254,503	$ (7,280)	$ (231,401)	$ 155,989
Ending balance, shares at May. 31, 2015	19,527,923				5,046,751

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical)	9 Months Ended
	May. 31, 2015$ / shares
Statement Of Stockholders Equity [Abstract]
Cash dividends, per share	$ 1.10

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May. 31, 2015	May. 31, 2014
Operating activities:
Net income	$ 33,084	$ 32,205
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,824	4,337
Net gains on sales and disposals of property and equipment	(82)	(41)
Deferred income taxes	(1,229)	(330)
Excess tax benefits from settlements of stock-based equity awards	(906)	(824)
Stock-based compensation	2,205	1,942
Unrealized foreign currency exchange losses (gains), net	2,393	(159)
Provision for bad debts	214	174
Changes in assets and liabilities:
Trade and other accounts receivable	(3,787)	(3,681)
Inventories	1,078	(4,716)
Other assets	3,817	(1,616)
Accounts payable and accrued liabilities	(1,596)	21
Accrued payroll and related expenses	(5,003)	(6,924)
Income taxes payable	130	1,718
Other long-term liabilities	184	17
Net cash provided by operating activities	35,326	22,123
Investing activities:
Purchases of property and equipment	(4,068)	(3,023)
Proceeds from sales of property and equipment	420	250
Purchase of intangible assets		(1,789)
Acquisition of business	(3,705)
Purchases of short-term investments	(8,167)	(5,756)
Maturities of short-term investments	1,636	914
Net cash used in investing activities	(13,884)	(9,404)
Financing activities:
Treasury stock purchases	(25,886)	(30,482)
Dividends paid	(16,177)	(15,096)
Proceeds from issuance of common stock	1,483	1,265
Excess tax benefits from settlements of stock-based equity awards	906	824
Proceeds from revolving credit facility	10,000	20,000
Net cash used in financing activities	(29,674)	(23,489)
Effect of exchange rate changes on cash and cash equivalents	(2,654)	2,231
Net decrease in cash and cash equivalents	(10,886)	(8,539)
Cash and cash equivalents at beginning of period	57,803	53,434
Cash and cash equivalents at end of period	$ 46,917	$ 44,895

The Company

The Company	9 Months Ended
	May. 31, 2015
The Company [Abstract]
The Company	Note 1. The Company WD-40 Company (“the Company”), based in San Diego, California, is a global marketing organization dedicated to creating positive lasting memories by developing and selling products which solve problems in workshops, factories and homes around the world. The Company markets its multi-purpose maintenance products and its homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®. Currently included in the WD-40 brand are the WD-40 multi-use product and the WD-40 Specialist ® and WD-40 Bike TM product lines. The Company’s brands are sold in various locations around the world. Multi-purpose maintenance products are sold worldwide in markets throughout North, Central and South America, Asia, Australia and the Pacific Rim, Europe, the Middle East and Africa. Homecare and cleaning products are sold primarily in North America, the United Kingdom (“U.K.”) and Australia. The Company’s products are sold primarily through mass retail and home center stores, warehouse club stores, grocery stores, hardware stores, automotive parts outlets, sport retailers, independent bike dealers and industrial distributors and suppliers.

Basis Of Presentation And Summa

Basis Of Presentation And Summary Of Significant Accounting Policies	9 Months Ended
	May. 31, 2015
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation And Summary Of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Consolidation The condensed consolidated financial statements included herein have been prepared by the Company, without audit, according to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The August 31, 2014 year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the unaudited financial information for the interim periods shown reflects all adjustments necessary for a fair statement thereof and such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2014, which was filed with the SEC on October 21, 2014. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. Foreign Currency Forward Contracts In the normal course of business, the Company employs established policies and procedures to manage its exposure to fluctuations in foreign currency exchange rates. The Company’s U.K. subsidiary, whose functional currency is Pound Sterling, utilizes foreign currency forward contracts to limit its exposure in converting forecasted cash balances denominated in non-functional currencies. The principal currency affected is the Euro. The Company regularly monitors its foreign currency exchange rate exposures to ensure the overall effectiveness of its foreign currency hedge positions. While the Company engages in foreign currency hedging activity to reduce its risk, for accounting purposes, none of its foreign currency forward contracts are designated as hedges. Foreign currency forward contracts are carried at fair value, with net realized and unrealized gains and losses recognized currently in other income (expense) in the Company’s condensed consolidated statements of operations. Cash flows from settlements of foreign currency forward contracts are included in operating activities in the condensed consolidated statements of cash flows. Foreign currency forward contracts in an asset position at the end of the reporting period are included in other current assets, while foreign currency forward contracts in a liability position at the end of the reporting period are included in accrued liabilities in the Company’s condensed consolidated balance sheets. At May 31, 2015 , the Company had a notional amount of $ 6.7 million outstanding in foreign currency forward contracts, which mature from June through August 2015. Unrealized net gains and losses related to foreign currency forward contracts were not significant at May 31, 2015 and August 31, 2014. Realized net gains and losses related to foreign currency forward contracts were not material for each of the three and nine month periods ended May 31, 2015 and 2014. Fair Value Measurements Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures , defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes its financial assets and liabilities measured at fair value into a hierarchy that categorizes fair value measurements into the following three levels based on the types of inputs used in measuring their fair value: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities; Level 2: Observable market-based inputs or observable inputs that are corroborated by market data; and Level 3: Unobservable inputs reflecting the Company’s own assumptions. Under fair value accounting, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of May 31, 2015 , the Company had no assets or liabilities that are measured at fair value in the financial statements on a recurring basis, with the exception of the foreign currency forward contracts, which are classified as Level 2 within the fair value hierarchy. The carrying values of cash equivalents, short-term investments and short-term borrowings are recorded at cost, which approximates their fair values primarily due to their short-term maturities and are classified as Level 2 within the fair value hierarchy. During the nine months ended May 31, 2015 , the Company did not record any significant nonrecurring fair value measurements for assets or liabilities in periods subsequent to their initial recognition . Recently Adopted Accounting Standards In July 2013, the Financial Accounting Standards Board (“ FASB”) issued ASU No. 2013-11, “ Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ” , which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The new rule requires companies to present in the financial statements an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward except to the extent such items are not available or not intended to be used at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. In such instances, the unrecognized tax benefit is required to be presented in the financial statements as a liability and not be combined with deferred tax assets. The adoption of this authoritative guidance did not have a material impact on the Company’s consolidated financial statement and related disclosures. Recently Issued Accounting Standards In April 2015, the FASB issued ASU No. 2015-05, “ Intangibles-Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” , which provides guidance on accounting for fees paid by a customer in a cloud computing arrangement. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the potential impacts of this new guidance on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis” , which amends existing consolidation guidance for reporting organizations such as limited partnerships and other similar entities that are required to evaluate whether they should consolidate certain legal entities. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company has evaluated the potential impacts of this updated guidance, and it does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, “ Revenue from Contracts with Customers” , which supersedes the revenue recognition requirements in ASC 605, “ Revenue Recognition” . The core principle of this updated guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new rule also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Companies are permitted to adopt this new rule following either a full or modified retrospective approach. Early adoption is not permitted. The Company is in the process of evaluating the potential impacts of this updated authoritative guidance on its consolidated financial statements.

Inventories

Inventories	9 Months Ended
	May. 31, 2015
Inventories [Abstract]
Inventories	Note 3 . Inventories Inventories consist primarily of raw materials and components, finished goods, and product held at third-party contract manufacturers. Inventories are stated at the lower of cost or market and cost is determined based on a first-in, first-out method or, for a portion of raw materials inventory, the average cost method. Inventories consisted of the following (in thousands): May 31, August 31, 2015 2014 Product held at third-party contract manufacturers $ $ Raw materials and components Work-in-process Finished goods Total $ $

Property and Equipment

Property and Equipment	9 Months Ended
	May. 31, 2015
Property And Equipment [Abstract]
Property And Equipment	Note 4 . Property and Equipment Property and equipment, net, consisted of the following (in thousands): May 31, August 31, 2015 2014 Machinery, equipment and vehicles $ $ Buildings and improvements Computer and office equipment Software Furniture and fixtures Land Subtotal Less: accumulated depreciation and amortization Total $ $

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	9 Months Ended
	May. 31, 2015
Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets	Note 5 . Goodwill and Other Intangible Assets Acquisitions During the first quarter of fiscal year 2015, the Company entered into an agreement by and between GT 85 Limited (“GT85”) and WD-40 Company Limited, which is the Company’s U.K. subsidiary, to acquire the GT85 business and certain of its assets for a purchase consideration of $4.1 million. Of this purchase consideration, $3.7 million was paid in cash upon completion of the acquisition (“completion”) and the remaining balance will be paid nine months following completion provided that the WD-40 Company Limited has not asserted a claim arising under the terms of the acquisition agreement. If an unresolved claim is outstanding nine months following completion, the asserted amount of the claim will continue to be retained until the matter is resolved. Located in the U.K., the GT85 business was engaged in the marketing and sale of the GT85® and SG85 brands of multi-purpose maintenance products. This acquisition complements the Company’s multi-purpose maintenance products and will help to build upon its strategy to develop new product categories for WD-40 Specialist and WD-40 BIKE. The purchase price was allocated to certain customer-related, trade name-related, and technology-based intangible assets in the amount of $1.7 million, $0.9 million, and $0.2 million, re spectively . The Company began to amortize these definite-lived intangible assets on a straight-line basis over their estimated useful lives of eight , ten , and four years, respectively, in the first quarter of fiscal year 2015. The purchase price exceeded the fair value of the intangible assets acquired and, as a result, the Company recorded goodwill of $1.3 million in connection with this transaction. The amount of goodwill expected to be deductible for tax purposes is also $1.3 million. This acquisition did not have a material impact on the Company’s condensed consolidated financial statements, and as a result no pro forma disclosures have been presented. During the second quarter of fiscal year 2014, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) by and between Etablissements Decloedt SA/NV (“Etablissements”) and WD-40 Company Limited. From January 1998 through the date of this Purchase Agreement, Etablissements acted as one of the Company’s international marketing distributors located in Belgium where it marketed and distributed certain of the WD-40 products. Pursuant to the Purchase Agreement, the Company acquired the list of customers and related information (the “customer list”) from Establissements for a purchase consideration of $1.8 million in cash. The Company has been using this customer list since its acquisition to solicit and transact direct sales of its products in Belgium. The Company began to amortize this customer list definite-lived intangible asset on a straight-line basis over its estimated useful life of five years in the second quarter of fiscal year 2014 . Goodwill The following table summarizes the changes in the carrying amounts of goodwill by segment (in thousands): Americas EMEA Asia-Pacific Total Balance as of August 31, 2014 $ $ $ $ GT85 acquisition - - Translation adjustments Balance as of May 31, 2015 $ $ $ $ During the second quarter of fiscal year 2015, the Company performed its annual goodwill impairment test. The annual goodwill impairment test was performed at the reporting unit level as required by the authoritative guidance. In accordance with ASU No. 2011-08, “ Testing Goodwill for Impairment ”, the Company performed the two-step quantitative assessment for each of its reporting units to determine whether the fair value of any of the reporting units were less than their carrying amounts. The Company determined the fair value of its reporting units in step one of the analysis by following the income approach which uses a discounted cash flow methodology. When using the discounted cash flow methodology, the fair value of each of the reporting units is based on the present value of the estimated future cash flows of each of the respective reporting units. The discounted cash flow methodology also requires management to make assumptions about certain key inputs in the estimated cash flows, including long-term sales forecasts or growth rates, terminal growth rates and discount rates, all of which are inherently uncertain. The Company determined that a discount rate of 9% , a sales growth rate of 4.5% and a terminal growth rate of 2% was appropriate to use in step one of the analysis for all of its reporting units. The forecast of future cash flows was based on management’s best estimates of sales growth rates and operating margins for the next five fiscal years. The discount rate used was based on the current weighted-average cost of capital for the Company. As these assumptions are largely unobservable, the estimate of fair value analysis falls within Level 3 of the fair value hierarchy. Based on the results of step one of the quantitative two-step analysis, the Company determined that the estimated fair value of each of its reporting units significantly exceeded their respective carrying values. As a result, step two of the quantitative analysis was not required and the Company concluded that no impairment of its goodwill existed as of February 28, 2015. While the Company believes that the estimates and assumptions used in its goodwill impairment test and analyses are reasonable, actual events and results could differ substantially from those included in the calculation. In the event that business conditions change in the future, the Company may be required to reassess and update its forecasts and estimates used in subsequent goodwill impairment analyses. If the results of these future analyses are lower than current estimates, an impairment charge to the Company’s goodwill balances may result at that time. In addition, there were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its goodwill for the quarter ended May 31, 2015. Definite-lived Intangible Assets The Company’s definite-lived intangible assets, which include the 2000 Flushes, Spot Shot, Carpet Fresh, 1001 and GT85 trade names, the Belgium customer list, the GT85 customer relationships and the GT85 technology are included in other intangible assets, net in the Company’s condensed consolidated balance sheets. The following table summarizes the definite-lived intangible assets and the related accumulated amortization and impairment (in thousands): May 31, August 31, 2015 2014 Gross carrying amount $ $ Accumulated amortization Accumulated impairment of intangible assets Translation adjustments Net carrying amount $ $ T here were no indicators of potential impairment identified as a result of the Company’s review of events and circumstances related to its existing definite-lived intangible assets for the quarter ended May 31, 2015 . Changes in the carrying amounts of definite-lived intangible assets by segment for the nine months ended May 31, 2015 are summarized below (in thousands): Americas EMEA Asia-Pacific Total Balance as of August 31, 2014 $ $ $ - $ Amortization expense - GT85 customer relationships - - GT85 trade name - - GT85 technology - - Translation adjustments - - Balance as of May 31, 2015 $ $ $ - $ The estimated amortization expense for the Company’s definite-lived intangible assets in future fiscal years is as follows (in thousands): Trade Names Customer-Based Technology Remainder of fiscal year 2015 $ $ $ Fiscal year 2016 Fiscal year 2017 Fiscal year 2018 Fiscal year 2019 - Thereafter - Total $ $ $

Accrued And Other Liabilities

Accrued And Other Liabilities	9 Months Ended
	May. 31, 2015
Accrued And Other Liabilities [Abstract]
Accrued And Other Liabilities	Note 6 . Accrued and Other Liabilities Accrued liabilities consisted of the following (in thousands): May 31, August 31, 2015 2014 Accrued advertising and sales promotion expenses $ $ Accrued professional services fees Accrued sales taxes Accrued other taxes Other Total $ $ Accrued payroll and related expenses consisted of the following (in thousands): May 31, August 31, 2015 2014 Accrued incentive compensation $ $ Accrued payroll Accrued profit sharing Accrued payroll taxes Other Total $ $

Debt

Debt	9 Months Ended
	May. 31, 2015
Debt [Abstract]
Debt	Note 7. Debt Revolving Credit Facility On June 17, 2011, the Company entered into an unsecured credit agreement with Bank of America, N.A. (“Bank of America”). On May 13, 2015, the Company entered into a second amendment (the “Second Amendment”) to this existing unsecured credit agreement with Bank of America. The amended agreement extended the maturity date of the revolving credit facility for five years from the effective date of the Second Amendment and increased the revolving commitment to an amount not to exceed $150.0 million . The new maturity date for the revolving credit facility is May 13, 2020 . Per the terms of the amended agreement, all loans denominated in U.S. dollars will accrue interest at the bank’s Prime rate or at LIBOR plus a predetermined margin of 0.85 percent and all loans denominated in foreign currencies will accrue interest at LIBOR plus the same predetermined margin (together with any applicable mandatory liquid asset costs imposed by non-U.S. banking regulatory authorities). Interest on outstanding loans is due and payable on a quarterly basis through the credit facility maturity date. The Company may also borrow against the credit facility through the issuance of standby letters of credit. Outstanding letters of credit are subject to a fee equal to a 0.85 percent per annum applied to amounts available to be drawn on outstanding letters of credit. In addition, the Company incurs commitment fees for the credit facility at an annual rate of 0.125 percent applied to the portion of the total credit facility commitment that has not been borrowed. In accordance with the Second Amendment, the Company and Bank of America may enter into an autoborrow agreement in form and substance satisfactory to Bank of America, providing for the automatic advance of revolving loans in U.S. Dollars to the Company’s designated account at Bank of America. No such autoborrow agreement has been signed to date. The Second Amendment also eliminated the material adverse effect clause as an event of default. In addition to other non-material technical amendments to the agreement, the Second Amendment revised the definition of consolidated EBITDA to include the add back of non-cash stock-based compensation to consolidated net income when arriving at consolidated EBITDA and the terms of the financial covenants per the Second Amendment are as follows: · The consolidated leverage ratio cannot be greater than three to one. The consolidated leverage ratio means, as of any date of determination, the ratio of (a) consolidated funded indebtedness as of such date to (b) consolidated EBITDA for the most recently completed four fiscal quarters · The consolidated interest coverage ratio cannot be less than three to one. The consolidated interest coverage ratio means, as of any date of determination, the ratio of (a) consolidated EBITDA for the most recently completed four fiscal quarters to (b) consolidated interest charges for the most recently completed four fiscal quarters. The agreement includes representations, warranties and covenants customary for credit facilities of this type, as well as customary events of default and remedies. To date, the Company has used the proceeds of the revolving credit facility for its stock repurchases and plans to continue using such proceeds for its general working capital needs and stock repurchases under any existing board approved share buy-back plans . Prior to the execution of the Second Amendment and the removal of the material adverse effect clause as an event of default, all amounts outstanding under the revolving credit facility were classified as short-term on the Company’s consolidated balance sheets as Bank of America could require the Company to immediately repay all amounts outstanding on the credit facility based on subjective factors. With the removal of the material adverse effect clause as an event of default, Bank of America can no longer require this immediate repayment of amounts outstanding on the line of credit. As a result, the Company is permitted to classify draws on the line of credit as long-term provided that management has determined it has the ability and intent to refinance such draws on the line of credit for a period in excess of twelve months. The Company assesses its ability and intent associated with draws on the line of credit at the end of each reporting period in order to determine the proper balance sheet classification for amounts outstanding on the line of credit. Since the autoborrow feature within the Second Amendment allows for borrowings to be made and repaid by the Company on a daily basis, any such borrowings made under an active autoborrow agreement would be classified as short-term on the Company’s consolidated balance sheets. During the nine months ended May 31, 2015 , the Company borrowed an additional $10.0 million U.S. dollars under the revolving credit facility. The Company regularly converts existing draws on its line of credit to new draws with new maturity dates and interest rates. As of May 31, 2015 , the Company had a $ 108.0 million outstanding balance on the revolving credit facility and was in compliance with all debt covenants under this credit facility . Based on management’s ability and intent assessment in the third quarter of fiscal year 2015, it concluded that all amounts outstanding under the revolving credit facility were long-term as of May 31, 2015 and classified them as such on the accompanying consolidated balance sheets .

Share Repurchase Plan

Share Repurchase Plan	9 Months Ended
	May. 31, 2015
Share Repurchase Plan [Abstract]
Share Repurchase Plans	Note 8. Share Repurchase Plans On June 18, 2013, the Company’s Board of Directors approved a share buy-back plan. Under the plan, which was to be in effect from August 1, 2013 through August 31, 2015, the Company was authorized to acquire up to $60.0 million of its outstanding shares on such terms and conditions as may be acceptable to the Company’s Chief Executive Officer or Chief Financial Officer and subject to present loan covenants and in compliance with all laws and regulations applicable thereto. During the period from August 1, 2013 through February 28, 2015, the Company repurchased 848,545 shares at a total cost of $ 60.0 million. As a result, the Company utilized the entire authorized amount and completed the repurchases under this share buy-back plan as of the end of the second quarter of fiscal year 2015. On October 14, 2014, the Company’s Board of Directors approved a new share buy-back plan. Under the plan, which became effective at the beginning of the third quarter of fiscal year 2015, once the Company’s previous $60.0 million plan was exhausted, the Company is authorized to acquire up to $75.0 million of its outstanding shares through August 31, 2016 . The timing and amount of repurchases will be based on terms and conditions as may be acceptable to the Company’s Chief Executive Officer and Chief Financial Officer and in compliance with all laws and regulations applicable thereto . During the period from March 1, 2015 through May 31, 2015, the Company repurchased 136,396 shares at a total cost of $11.3 million under this $75.0 million plan.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	May. 31, 2015
Earnings Per Common Share [Abstract]
Earnings Per Common Share	Note 9 . Earnings per Common Share The table below reconciles net income to net income available to common shareholders (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Net income $ $ $ $ Less: Net income allocated to participating securities Net income available to common shareholders $ $ $ $ The table below summarizes the weighted-average number of common shares outstanding included in the calculation of basic and diluted EPS (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Weighted-average common shares outstanding, basic Weighted-average dilutive securities Weighted-average common shares outstanding, diluted For the three months ended May 31, 2015 and 2014, there were no anti-dilutive stock-based equity awards outstanding. For the nine months ended May 31, 2015 and 2014, weighted-average stock-based equity awards outstanding that are non-participating securities in the amounts of 1,782 and 5,939 , respectively, were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive.

Related Parties

Related Parties	9 Months Ended
	May. 31, 2015
Related Parties [Abstract]
Related Parties	Note 10. Related Parties On October 11, 2011, the Company’s Board of Directors elected Mr. Gregory A. Sandfort as a director of WD-40 Company. Mr. Sandfort is President and Chief Executive Officer of Tractor Supply Company (“Tractor Supply”), which is a WD-40 Company customer that acquires products from the Company in the ordinary course of business. The condensed consolidated financial statements include sales to Tractor Supply of $0.3 million and $0.2 million for the three months ended May 31, 2015 and 2014, respectively, and $0.7 million and $0.6 million for the nine months ended May 31, 2015 and 2014, respectively. Accounts rece ivable from Tractor Supply were not material as of May 31, 2015 .

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	May. 31, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies	Note 11. Commitments and Contingencies Purchase Commitments The Company has ongoing relationships with various suppliers (contract manufacturers) who manufacture the Company’s products. The contract manufacturers maintain title and control of certain raw materials and components, materials utilized in finished products, and of the finished products themselves until shipment to the Company’s customers or third-party distribution centers in accordance with agreed upon shipment terms. Although the Company typically does not have definitive minimum purchase obligations included in the contract terms with its contract manufacturers, when such obligations have been included, they have been immaterial. In the ordinary course of business, supply needs are communicated by the Company to its contract manufacturers based on orders and short-term projections, ranging from two to five months. The Company is committed to purchase the products produced by the contract manufacturers based on the projections provided. Upon the termination of contracts with contract manufacturers, the Company obtains certain inventory control rights and is obligated to work with the contract manufacturer to sell through all product held by or manufactured by the contract manufacturer on behalf of the Company during the termination notification period. If any inventory remains at the contract manufacturer at the termination date, the Company is obligated to purchase such inventory which may include raw materials, components and finished goods. Prior to the fourth quarter of fiscal year 2012, amounts for inventory purchased under termination commitments have been immaterial. As a result of the unanticipated termination of the IQ Products Company contract manufacturing agreement in the fourth quarter of fiscal year 2012, the Company concluded that it was obligated to purchase $ 1.7 million of finished goods inventory. As a result, this amount was included in inventory in the Company’s condensed consolidated balance sheet in prior periods beginning with the fourth quarter of fiscal year 2012. According to the Interim Award of the Arbitration Panel in the Company’s dispute with IQ Products Company as described in the Litigation section below, the Company has no contractual obligation to purchase the finished goods inventory held by IQ Products Company. Therefore, inventory and the corresponding accrued liability have been reduced by $1.7 million in the Company’s condensed consolidated balance sheet as of May 31, 2015 . In addition to the commitments to purchase products from contract manufacturers described above, the Company may also enter into commitments with other manufacturers to purchase finished goods and components to support innovation initiatives and/or supply chain initiatives. As of May 31, 2015 , no such commitments were outstanding. Litigation The Company is party to various claims, legal actions and complaints, including product liability litigation, arising in the ordinary course of business. On February 25, 2014, a suit was filed against the Company in a Superior Court of California (David Wolf v. WD-40 Company). Mr. Wolf’s complaint sought class action status and alleged that the Company violated California Penal Code Section 632.7, which prohibits the interception or reception and intentional recording of a cordless or cell phone call without the consent of both parties to the communication. As reported in the Company’s quarterly report on Form 10-Q filed on April 9, 2015, the plaintiff filed a request for dismissal with prejudice on April 6, 2015. On April 27, 2015, the Superior Court dismissed the proceeding. On May 31, 2012, a legal action was filed against the Company in a United States District Court, in Texas (IQ Products Company v. WD-40 Company). The complaint alleged that the Company wrongfully terminated a contract manufacturing relationship. IQ Products Company (“IQPC”) also raised alleged safety concerns regarding a long-standing manufacturing specification related to the Company’s products. As reported in the Company’s quarterly report on Form 10-Q filed on April 9, 2015, the Pipeline and Hazardous Materials Safety Administration (“PHMSA”) of the Department of Transportation addressed a letter to IQPC on November 13, 2014 to inform IQPC that it concluded an investigation and found no evidence of non-compliance with existing PHMSA regulations or an imminent public safety hazard posed by WD-40 Company products. Pursuant to a court order the dispute was submitted to arbitration. On May 15, 2015, the arbitrators issued their Interim Award and decision on the merits of the dispute. The arbitrators rejected all of IQPC’s claims. Indemnifications As permitted under Delaware law, the Company has agreements whereby it indemnifies senior officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company maintains Director and Officer insurance coverage that mitigates the Company’s exposure with respect to such obligations. As a result of the Company’s insurance coverage, management believes that the estimated fair value of these indemnification agreements is minimal. Thus, no liabilities have been recorded for these agreements as of May 31, 2015 . From time to time, the Company enters into indemnification agreements with certain contractual parties in the ordinary course of business, including agreements with lenders, lessors, contract manufacturers, marketing distributors, customers and certain vendors. All such indemnification agreements are entered into in the context of the particular agreements and are provided in an attempt to properly allocate risk of loss in connection with the consummation of the underlying contractual arrangements. Although the maximum amount of future payments that the Company could be required to make under these indemnification agreements is unlimited, management believes that the Company maintains adequate levels of insurance coverage to protect the Company with respect to most potential claims arising from such agreements and that such agreements do not otherwise have value separate and apart from the liabilities incurred in the ordinary course of the Company’s business. Thus, no liabilities have been recorded with respect to such indemnification agreements as of May 31, 2015 .

Income Taxes

Income Taxes	9 Months Ended
	May. 31, 2015
Income Taxes [Abstract]
Income Taxes	Note 1 2 . Income Taxes The Company uses an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates, to determine its quarterly provision for income taxes. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter. The provision for income taxes was 30.2 % and 30.4 % of income before income taxes for the three months ended May 31, 2015 and 2014, respectively, and 30.1% and 30.6% of income before income taxes for the nine months ended May 31, 2015 and 2014, respectively. The decrease in the effective income tax rate for both the three and nine months ended May 31, 2015 as compared to the same periods of the prior fiscal year was driven by the portion of the Company’s total earnings from foreign operations, particularly in the United Kingdom , which are taxed at decreasing tax rates . The Company is subject to taxation in the U.S. and in various state and foreign jurisdictions. Due to expired statutes, the Company’s federal income tax returns for years prior to fiscal year 2012 are not subject to examination by the U.S. Internal Revenue Service. Generally, for the majority of state and foreign jurisdictions where the Company does business, periods prior to fiscal year 2011 are no longer subject to examination. The Company has estimated that up to $ 0.4 million of unrecognized tax benefits related to income tax positions may be affected by the resolution of tax examinations or expiring statutes of limitation within the next twelve months. Audit outcomes and the timing of settlements are subject to significant uncertainty.

Business Segments And Foreign O

Business Segments And Foreign Operations	9 Months Ended
	May. 31, 2015
Business Segments And Foreign Operations [Abstract]
Business Segments And Foreign Operations	Note 1 3 . Business Segments and Foreign Operations The Company evaluates the performance of its segments and allocates resources to them based on sales and operating income. The Company is organized on the basis of geographical area into the following three segments: the Americas; EMEA; and Asia-Pacific. Segment data does not include inter-segment revenues. Unallocated corporate expenses are general corporate overhead expenses not directly attributable to the operating segments and are reported separate from the Company’s identified segments. The corporate overhead costs include expenses for the Company’s accounting and finance, information technology, human resources, research and development, quality control and executive management functions, as well as all direct costs associated with public company compliance matters including legal, audit and other professional services costs. Summary information about reportable segments is as follows (in thousands): Unallocated For the Three Months Ended Americas EMEA Asia-Pacific Corporate (1) Total May 31, 2015: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ May 31, 2014: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ For the Nine Months Ended May 31, 2015: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ May 31, 2014: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ (1) Unallocated corporate expenses are general corporate overhead expenses not directly attributable to any one of the operating segments. These expenses are reported separate from the Company’s identified segments and are included in Selling, General and Administrative expenses on the Company’s condensed consolidated statements of operations. The Company’s Chief Operating Decision Maker does not review assets by segment as part of the financial information provided and therefore, no asset information is provided in the above table. Net sales by product group are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Multi-purpose maintenance products $ $ $ $ Homecare and cleaning products Total $ $ $ $

Subsequent Events

Subsequent Events	9 Months Ended
	May. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 1 4 . Subsequent Events On June 23, 2015 , the Company’s Board of Directors declared a cash dividend of $0.3 8 per share payable on July 31, 2015 to shareholders of record on July 17, 2015 .

Basis Of Presentation And Sum23

Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	May. 31, 2015
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Basis Of Consolidation	Basis of Consolidation The condensed consolidated financial statements included herein have been prepared by the Company, without audit, according to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The August 31, 2014 year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the unaudited financial information for the interim periods shown reflects all adjustments necessary for a fair statement thereof and such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2014, which was filed with the SEC on October 21, 2014. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year.
Foreign Currency Forward Contracts	Foreign Currency Forward Contracts In the normal course of business, the Company employs established policies and procedures to manage its exposure to fluctuations in foreign currency exchange rates. The Company’s U.K. subsidiary, whose functional currency is Pound Sterling, utilizes foreign currency forward contracts to limit its exposure in converting forecasted cash balances denominated in non-functional currencies. The principal currency affected is the Euro. The Company regularly monitors its foreign currency exchange rate exposures to ensure the overall effectiveness of its foreign currency hedge positions. While the Company engages in foreign currency hedging activity to reduce its risk, for accounting purposes, none of its foreign currency forward contracts are designated as hedges. Foreign currency forward contracts are carried at fair value, with net realized and unrealized gains and losses recognized currently in other income (expense) in the Company’s condensed consolidated statements of operations. Cash flows from settlements of foreign currency forward contracts are included in operating activities in the condensed consolidated statements of cash flows. Foreign currency forward contracts in an asset position at the end of the reporting period are included in other current assets, while foreign currency forward contracts in a liability position at the end of the reporting period are included in accrued liabilities in the Company’s condensed consolidated balance sheets. At May 31, 2015 , the Company had a notional amount of $ 6.7 million outstanding in foreign currency forward contracts, which mature from June through August 2015. Unrealized net gains and losses related to foreign currency forward contracts were not significant at May 31, 2015 and August 31, 2014. Realized net gains and losses related to foreign currency forward contracts were not material for each of the three and nine month periods ended May 31, 2015 and 2014.
Fair Value Measurements	Fair Value Measurements Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures , defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes its financial assets and liabilities measured at fair value into a hierarchy that categorizes fair value measurements into the following three levels based on the types of inputs used in measuring their fair value: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities; Level 2: Observable market-based inputs or observable inputs that are corroborated by market data; and Level 3: Unobservable inputs reflecting the Company’s own assumptions. Under fair value accounting, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of May 31, 2015 , the Company had no assets or liabilities that are measured at fair value in the financial statements on a recurring basis, with the exception of the foreign currency forward contracts, which are classified as Level 2 within the fair value hierarchy. The carrying values of cash equivalents, short-term investments and short-term borrowings are recorded at cost, which approximates their fair values primarily due to their short-term maturities and are classified as Level 2 within the fair value hierarchy. During the nine months ended May 31, 2015 , the Company did not record any significant nonrecurring fair value measurements for assets or liabilities in periods subsequent to their initial recognition .
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In July 2013, the Financial Accounting Standards Board (“ FASB”) issued ASU No. 2013-11, “ Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ” , which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The new rule requires companies to present in the financial statements an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward except to the extent such items are not available or not intended to be used at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. In such instances, the unrecognized tax benefit is required to be presented in the financial statements as a liability and not be combined with deferred tax assets. The adoption of this authoritative guidance did not have a material impact on the Company’s consolidated financial statement and related disclosures.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In April 2015, the FASB issued ASU No. 2015-05, “ Intangibles-Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” , which provides guidance on accounting for fees paid by a customer in a cloud computing arrangement. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the potential impacts of this new guidance on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis” , which amends existing consolidation guidance for reporting organizations such as limited partnerships and other similar entities that are required to evaluate whether they should consolidate certain legal entities. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within that reporting period. Early adoption is permitted. The Company has evaluated the potential impacts of this updated guidance, and it does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, “ Revenue from Contracts with Customers” , which supersedes the revenue recognition requirements in ASC 605, “ Revenue Recognition” . The core principle of this updated guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new rule also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Companies are permitted to adopt this new rule following either a full or modified retrospective approach. Early adoption is not permitted. The Company is in the process of evaluating the potential impacts of this updated authoritative guidance on its consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	May. 31, 2015
Inventories [Abstract]
Schedule Of Inventories	May 31, August 31, 2015 2014 Product held at third-party contract manufacturers $ $ Raw materials and components Work-in-process Finished goods Total $ $

Property And Equipment (Tables)

Property And Equipment (Tables)	9 Months Ended
	May. 31, 2015
Property And Equipment [Abstract]
Schedule Of Property And Equipment, Net	May 31, August 31, 2015 2014 Machinery, equipment and vehicles $ $ Buildings and improvements Computer and office equipment Software Furniture and fixtures Land Subtotal Less: accumulated depreciation and amortization Total $ $

Goodwill And Other Intangible26

Goodwill And Other Intangible Assets (Tables)	9 Months Ended
	May. 31, 2015
Goodwill And Other Intangible Assets [Abstract]
Summary Of Changes In Carrying Amounts Of Goodwill	Americas EMEA Asia-Pacific Total Balance as of August 31, 2014 $ $ $ $ GT85 acquisition - - Translation adjustments Balance as of May 31, 2015 $ $ $ $
Summary Of Definite-Lived Intangible Assets	May 31, August 31, 2015 2014 Gross carrying amount $ $ Accumulated amortization Accumulated impairment of intangible assets Translation adjustments Net carrying amount $ $
Summary Of Changes In Carrying Amounts Of Definite-Lived Intangible Assets By Segment	Americas EMEA Asia-Pacific Total Balance as of August 31, 2014 $ $ $ - $ Amortization expense - GT85 customer relationships - - GT85 trade name - - GT85 technology - - Translation adjustments - - Balance as of May 31, 2015 $ $ $ - $
Schedule Of Future Estimated Amortization Expense	Trade Names Customer-Based Technology Remainder of fiscal year 2015 $ $ $ Fiscal year 2016 Fiscal year 2017 Fiscal year 2018 Fiscal year 2019 - Thereafter - Total $ $ $

Accrued And Other Liabilities (

Accrued And Other Liabilities (Tables)	9 Months Ended
	May. 31, 2015
Accrued And Other Liabilities [Abstract]
Schedule Of Accrued Liabilities	May 31, August 31, 2015 2014 Accrued advertising and sales promotion expenses $ $ Accrued professional services fees Accrued sales taxes Accrued other taxes Other Total $ $
Schedule Of Accrued Payroll And Related Expenses	May 31, August 31, 2015 2014 Accrued incentive compensation $ $ Accrued payroll Accrued profit sharing Accrued payroll taxes Other Total $ $

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	May. 31, 2015
Earnings Per Common Share [Abstract]
Schedule Of Reconciliation Of Net Income To Net Income Available To Common Shareholders	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Net income $ $ $ $ Less: Net income allocated to participating securities Net income available to common shareholders $ $ $ $
Schedule Of Weighted Average Number Of Shares	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Weighted-average common shares outstanding, basic Weighted-average dilutive securities Weighted-average common shares outstanding, diluted

Business Segments And Foreign29

Business Segments And Foreign Operations (Tables)	9 Months Ended
	May. 31, 2015
Business Segments And Foreign Operations [Abstract]
Summarized Information By Reportable Segments	Unallocated For the Three Months Ended Americas EMEA Asia-Pacific Corporate (1) Total May 31, 2015: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ May 31, 2014: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ For the Nine Months Ended May 31, 2015: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ May 31, 2014: Net sales $ $ $ $ - $ Income from operations $ $ $ $ $ Depreciation and amortization expense $ $ $ $ $ Interest income $ $ $ $ - $ Interest expense $ $ - $ $ - $ (1) Unallocated corporate expenses are general corporate overhead expenses not directly attributable to any one of the operating segments. These expenses are reported separate from the Company’s identified segments and are included in Selling, General and Administrative expenses on the Company’s condensed consolidated statements of operations.
Schedule Of Net Sales By Product Group	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Multi-purpose maintenance products $ $ $ $ Homecare and cleaning products Total $ $ $ $

Basis Of Presentation And Sum30

Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions	May. 31, 2015USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Foreign currency forward contracts outstanding	$ 6.7

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Inventories [Abstract]
Product held at third-party contract manufacturers	$ 4,798	$ 3,945
Raw materials and components	4,066	3,670
Work-in-process	380	261
Finished goods	23,959	27,113
Total	$ 33,203	$ 34,989

Property And Equipment (Schedul

Property And Equipment (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Property Plant And Equipment [Line Items]
Subtotal	$ 32,380	$ 29,355
Less: accumulated depreciation and amortization	(21,166)	(19,653)
Total	11,214	9,702
Machinery, Equipment and Vehicles [Member]
Property Plant And Equipment [Line Items]
Subtotal	15,396	13,459
Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Subtotal	4,182	4,044
Computer And Office Equipment [Member]
Property Plant And Equipment [Line Items]
Subtotal	4,001	3,312
Software [Member]
Property Plant And Equipment [Line Items]
Subtotal	7,061	6,824
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Subtotal	1,458	1,421
Land [Member]
Property Plant And Equipment [Line Items]
Subtotal	$ 282	$ 295

Goodwill And Other Intangible33

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2015	Nov. 30, 2014	Feb. 28, 2014	May. 31, 2015	Aug. 31, 2014
Finite Lived Intangible Assets [Line Items]
Goodwill				$ 96,440	$ 95,499
Fair value inputs, discount rate	9.00%
Fair value inputs, long-term revenue growth rate	4.50%
Fair value inputs, terminal growth rate	2.00%
GT 85 Limited [Member]
Finite Lived Intangible Assets [Line Items]
Purchase consideration		$ 4,100
Cash paid		3,700
Goodwill		1,300
Goodwill expected to be deductible for tax purposes		1,300
Establissments Decloedt [Member]
Finite Lived Intangible Assets [Line Items]
Cash paid			$ 1,800
Customer-Related [Member] | GT 85 Limited [Member]
Finite Lived Intangible Assets [Line Items]
Purchase consideration		$ 1,700
Estimated useful life		8 years
Trade Names [Member] | GT 85 Limited [Member]
Finite Lived Intangible Assets [Line Items]
Purchase consideration		$ 900
Estimated useful life		10 years
Technology-Based [Member] | GT 85 Limited [Member]
Finite Lived Intangible Assets [Line Items]
Purchase consideration		$ 200
Estimated useful life		4 years
Customer Lists [Member] | Establissments Decloedt [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life			5 years

Goodwill And Other Intangible34

Goodwill And Other Intangible Assets (Summary Of Changes in Carrying Amounts of Goodwill) (Details) $ in Thousands	9 Months Ended
	May. 31, 2015USD ($)
Goodwill [Line Items]
Balance, beginning	$ 95,499
GT85 acquisiton	1,231
Translation adjustments	(290)
Balance, ending	96,440
Americas [Member]
Goodwill [Line Items]
Balance, beginning	85,581
Translation adjustments	(44)
Balance, ending	85,537
EMEA [Member]
Goodwill [Line Items]
Balance, beginning	8,707
GT85 acquisiton	1,231
Translation adjustments	(245)
Balance, ending	9,693
Asia-Pacific [Member]
Goodwill [Line Items]
Balance, beginning	$ 1,211
GT85 acquisiton
Translation adjustments	$ (1)
Balance, ending	$ 1,210

Goodwill And Other Intangible35

Goodwill And Other Intangible Assets (Summary Of Definite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Goodwill And Other Intangible Assets [Abstract]
Gross carrying amount	$ 38,925	$ 36,670
Accumulated amortization	(13,974)	(12,021)
Accumulated impairment of intangible assets	(1,077)	(1,077)
Translation adjustments	(125)	99
Net carrying amount	$ 23,749	$ 23,671

Goodwill And Other Intangible36

Goodwill And Other Intangible Assets (Summary Of Changes In Carrying Amounts Of Definite-Lived Intangible Assets By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Beginning balance			$ 23,671
Amortization expense	$ (754)	$ (684)	(2,280)	$ (1,930)
Translation adjustments			(281)
Ending balance	23,749		23,749
Americas [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance			19,328
Amortization expense			(1,656)
Ending balance	17,672		17,672
EMEA [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance			4,343
Amortization expense			(624)
Translation adjustments			(281)
Ending balance	$ 6,077		$ 6,077
Asia-Pacific [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance
Amortization expense
Translation adjustments
Ending balance
Customer-Related [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 1,579
Ending balance	$ 2,634		2,634
Customer-Related [Member] | EMEA [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 1,579
Customer-Related [Member] | Asia-Pacific [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 901
Ending balance	20,985		20,985
Trade Names [Member] | EMEA [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 901
Trade Names [Member] | Asia-Pacific [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired
Technology-Based [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 159
Ending balance	$ 130		130
Technology-Based [Member] | EMEA [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 159
Technology-Based [Member] | Asia-Pacific [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired

Goodwill And Other Intangible37

Goodwill And Other Intangible Assets (Schedule Of Future Estimated Amortization Expense) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Net carrying amount	$ 23,749	$ 23,671
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Remainder of fiscal year 2015	618
Fiscal year 2016	2,455
Fiscal year 2017	2,455
Fiscal year 2018	2,455
Fiscal year 2019	2,455
Thereafter	10,547
Net carrying amount	20,985
Customer-Related [Member]
Finite-Lived Intangible Assets [Line Items]
Remainder of fiscal year 2015	133
Fiscal year 2016	534
Fiscal year 2017	533
Fiscal year 2018	533
Fiscal year 2019	309
Thereafter	592
Net carrying amount	2,634
Technology-Based [Member]
Finite-Lived Intangible Assets [Line Items]
Remainder of fiscal year 2015	10
Fiscal year 2016	40
Fiscal year 2017	40
Fiscal year 2018	40
Net carrying amount	$ 130

Accrued And Other Liabilities38

Accrued And Other Liabilities (Schedule Of Accrued Liabilities) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Accrued And Other Liabilities [Abstract]
Accrued advertising and sales promotion expenses	$ 9,288	$ 10,140
Accrued professional services fees	1,479	1,715
Accrued sales taxes	522	934
Accrued other taxes	257	476
Other	4,391	5,117
Total	$ 15,937	$ 18,382

Accrued And Other Liabilities39

Accrued And Other Liabilities (Schedule Of Accrued Payroll And Related Expenses) (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Accrued And Other Liabilities [Abstract]
Accrued incentive compensation	$ 4,297	$ 8,558
Accrued payroll	3,490	2,813
Accrued profit sharing	1,638	2,424
Accrued payroll taxes	1,288	1,602
Other	473	572
Total	$ 11,186	$ 15,969

Debt (Details)

Debt (Details) $ in Thousands	May. 13, 2015USD ($)	May. 31, 2015USD ($)	May. 31, 2014USD ($)
Debt Instrument [Line Items]
Consolidated leverage ratio		3
Consolidated interest coverage ratio		3
Proceeds from revolving credit facility		$ 10,000	$ 20,000
Revolving credit facility, amount outstanding		$ 108,000
Second Amended Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility, amount	$ 150,000
Revolving credit facility, maturity period	5 years
Revolving credit facility, expiration date		May 13, 2020
LIBOR margin rate	0.85%
Commitment fee annual rate	0.85%
Commitment fee, annual rate applied to amount not borrowed	0.125%

Share Repurchase Plan (Details)

Share Repurchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		19 Months Ended
	May. 31, 2015	May. 31, 2015	May. 31, 2014	Feb. 28, 2015
Equity, Class of Treasury Stock [Line Items]
Total cost of repurchased shares		$ 25,886	$ 30,482
2013 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Share buy-back plan, amount authorized				$ 60,000
Share buy-back plan, number of shares repurchased				848,545
Total cost of repurchased shares				$ 60,000
2014 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Share buy-back plan, amount authorized	$ 75,000	$ 75,000
Share buy-back plan, number of shares repurchased	136,396
Total cost of repurchased shares	$ 11,300

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Earnings Per Common Share [Abstract]
Anti-dilutive stock options outstanding	0	0	1,782	5,939

Earnings Per Common Share (Sche

Earnings Per Common Share (Schedule Of Reconciliation Of Net Income To Net Income Available To Common Shareholders) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Earnings Per Common Share [Abstract]
Net income	$ 10,965	$ 10,406	$ 33,084	$ 32,205
Less: Net income allocated to participating securities	(68)	(59)	(198)	(173)
Net income available to common shareholders	$ 10,897	$ 10,347	$ 32,886	$ 32,032

Earnings Per Common Share (Sc44

Earnings Per Common Share (Schedule Of Weighted Average Number Of Shares) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Earnings Per Common Share [Abstract]
Weighted-average common shares outstanding, basic	14,546	14,977	14,616	15,152
Weighted-average dilutive securities	69	74	69	77
Weighted-average common shares outstanding, diluted	14,615	15,051	14,685	15,229

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Related Parties [Abstract]
Sales to Tractor Supply	$ 0.3	$ 0.2	$ 0.7	$ 0.6

Commitments And Contingencies (

Commitments And Contingencies (Details) - May. 31, 2015 - USD ($) $ in Millions	Total
Loss Contingencies [Line Items]
Liabilities related to indemnification agreement	$ 0
Purchase Commitment [Member]
Loss Contingencies [Line Items]
Significant purchase commitment amount committed	1.7
Contractual Obligation	0
Decrease in inventory and accrued liability	1.7
Commitment outstanding	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Income Taxes [Abstract]
Provision for income taxes	30.20%	30.40%	30.10%	30.60%
Unrecognized tax benefits affected by the resolution of tax examinations or expiring statutes of limitation	$ 0.4		$ 0.4

Business Segments and Foreign48

Business Segments and Foreign Operations (Summarized Information Of Reportable Segments) (Details) $ in Thousands		3 Months Ended		9 Months Ended
		May. 31, 2015USD ($)	May. 31, 2014USD ($)	May. 31, 2015USD ($)item	May. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | item				3
Net sales		$ 92,485	$ 95,650	$ 286,169	$ 285,375
Income from operations		16,372	15,103	49,596	47,122
Depreciation and amortization expense		1,577	1,488	4,824	4,337
Interest income		113	136	425	425
Interest expense		343	268	912	709
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Income from operations	[1]	(5,737)	(4,758)	(17,137)	(16,016)
Depreciation and amortization expense	[1]	7	5	23	20
Americas [Member]
Segment Reporting Information [Line Items]
Net sales		49,744	45,096	139,219	134,366
Income from operations		13,542	9,991	34,367	29,893
Depreciation and amortization expense		995	1,035	3,055	3,193
Interest income		1	3	6	5
Interest expense		341	266	906	702
EMEA [Member]
Segment Reporting Information [Line Items]
Net sales		30,335	36,678	103,605	111,305
Income from operations		6,195	7,306	21,830	24,740
Depreciation and amortization expense		509	384	1,564	947
Interest income		87	104	304	318
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Net sales		12,406	13,876	43,345	39,704
Income from operations		2,372	2,564	10,536	8,505
Depreciation and amortization expense		66	64	182	177
Interest income		25	29	115	102
Interest expense		$ 2	$ 2	$ 6	$ 7
[1]	Unallocated corporate expenses are general corporate overhead expenses not directly attributable to any one of the operating segments. These expenses are reported separate from the Company's identified segments and are included in Selling, General and Administrative expenses on the Company's condensed consolidated statements of operations.

Business Segments And Foreign49

Business Segments And Foreign Operations (Schedule Of Net Sales By Product Group) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Revenue from External Customer [Line Items]
Net sales	$ 92,485	$ 95,650	$ 286,169	$ 285,375
Multi-purpose maintenance products [Member]
Revenue from External Customer [Line Items]
Net sales	81,512	84,817	253,005	252,607
Homecare and cleaning products [Member]
Revenue from External Customer [Line Items]
Net sales	$ 10,973	$ 10,833	$ 33,164	$ 32,768

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - $ / shares	Jun. 23, 2015	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Subsequent Events [Line Items]
Cash dividend declared		$ 0.38	$ 0.34	$ 1.10	$ 0.99
Dividend payable, declared date				Jun. 23, 2015
Dividends payable, date to be paid				Jul. 31, 2015
Dividend payable, record date				Jul. 17, 2015
Subsequent Events [Member]
Subsequent Events [Line Items]
Cash dividend declared	$ 0.38