WD-40 (WDFC) 10-Q10 Jul 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	May 31, 2024	Jul. 03, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2024
Document Transition Report	false
Entity File Number	000-06936
Entity Registrant Name	WD-40 COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-1797918
Entity Address, Address Line One	9715 Businesspark Avenue
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92131
City Area Code	619
Local Phone Number	275-1400
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	WDFC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,548,450
Entity Central Index Key	0000105132
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Current assets:
Cash and cash equivalents	$ 45,300	$ 48,143
Trade and other accounts receivable, net	116,434	98,039
Inventories	76,576	86,522
Other current assets	10,453	15,821
Total current assets	248,763	248,525
Property and equipment, net	63,903	66,791
Goodwill	96,927	95,505
Other intangible assets, net	6,682	4,670
Right-of-use assets	11,590	7,820
Deferred tax assets, net	1,197	1,201
Other assets	14,548	13,454
Total assets	443,610	437,966
Current liabilities:
Accounts payable	32,377	30,826
Accrued liabilities	29,697	30,000
Accrued payroll and related expenses	18,740	16,722
Short-term borrowings	22,316	10,800
Income taxes payable	2,111	494
Total current liabilities	105,241	88,842
Long-term borrowings	85,473	109,743
Deferred tax liabilities, net	10,844	10,305
Long-term operating lease liabilities	6,072	5,832
Other long-term liabilities	13,738	13,066
Total liabilities	221,368	227,788
Commitments and Contingencies (Note 13)
Stockholders’ equity:
Common stock — authorized 36,000,000 shares, $0.001 par value; 19,924,268 and 19,905,815 shares issued at May 31, 2024 and August 31, 2023, respectively; and 13,547,637 and 13,563,434 shares outstanding at May 31, 2024 and August 31, 2023, respectively	20	20
Additional paid-in capital	174,177	171,546
Retained earnings	495,109	477,488
Accumulated other comprehensive loss	(31,300)	(31,206)
Common stock held in treasury, at cost — 6,376,631 and 6,342,381 shares at May 31, 2024 and August 31, 2023, respectively	(415,764)	(407,670)
Total stockholders’ equity	222,242	210,178
Total liabilities and stockholders’ equity	$ 443,610	$ 437,966

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2024	Aug. 31, 2023
Statement of Financial Position [Abstract]
Common stock, authorized (in shares)	36,000,000	36,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, issued (in shares)	19,924,268	19,905,815
Common stock, outstanding (in shares)	13,547,637	13,563,434
Treasury stock, shares (in shares)	6,376,631	6,342,381

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Income Statement [Abstract]
Net sales	$ 155,045	$ 141,717	$ 434,566	$ 396,803
Cost of products sold	72,657	69,955	203,684	194,708
Gross profit	82,388	71,762	230,882	202,095
Operating expenses:
Selling, general and administrative	45,564	38,195	134,722	115,869
Advertising and sales promotion	9,345	7,660	23,053	18,984
Amortization of definite-lived intangible assets	303	250	806	753
Total operating expenses	55,212	46,105	158,581	135,606
Income from operations	27,176	25,657	72,301	66,489
Other income (expense):
Interest income	136	69	276	164
Interest expense	(1,182)	(1,597)	(3,336)	(4,268)
Other (expense) income, net	(283)	243	(516)	558
Income before income taxes	25,847	24,372	68,725	62,943
Provision for income taxes	6,005	5,477	15,865	13,525
Net income	$ 19,842	$ 18,895	$ 52,860	$ 49,418
Earnings per common share:
Basic (in dollars per share)	$ 1.46	$ 1.39	$ 3.89	$ 3.62
Diluted (in dollars per share)	$ 1.46	$ 1.38	$ 3.88	$ 3.62
Shares used in per share calculations:
Basic (in shares)	13,552	13,573	13,556	13,582
Diluted (in shares)	13,577	13,600	13,581	13,606

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 19,842	$ 18,895	$ 52,860	$ 49,418
Other comprehensive income (loss):
Foreign currency translation adjustment	(51)	1,955	(94)	3,299
Total comprehensive income	$ 19,791	$ 20,850	$ 52,766	$ 52,717

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Aug. 31, 2022		19,888,807
Beginning balance at Aug. 31, 2022	$ 188,624	$ 20	$ 165,973	$ 456,076	$ (36,209)	$ (397,236)
Beginning balance (in shares) at Aug. 31, 2022						6,286,461
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes (in shares)		7,670
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes	(600)		(600)
Stock-based compensation	2,719		2,719
Cash dividends	(10,634)			(10,634)
Repurchases of common stock (in shares)						22,420
Repurchases of common stock	(4,072)					$ (4,072)
Foreign currency translation adjustment	1,336				1,336
Net income	13,997			13,997
Ending balance (in shares) at Nov. 30, 2022		19,896,477
Ending balance at Nov. 30, 2022	191,370	$ 20	168,092	459,439	(34,873)	$ (401,308)
Ending balance (in shares) at Nov. 30, 2022						6,308,881
Beginning balance (in shares) at Aug. 31, 2022		19,888,807
Beginning balance at Aug. 31, 2022	188,624	$ 20	165,973	456,076	(36,209)	$ (397,236)
Beginning balance (in shares) at Aug. 31, 2022						6,286,461
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	3,299
Net income	49,418
Ending balance (in shares) at May. 31, 2023		19,896,477
Ending balance at May. 31, 2023	205,827	$ 20	171,166	472,221	(32,910)	$ (404,670)
Ending balance (in shares) at May. 31, 2023						6,328,131
Beginning balance (in shares) at Nov. 30, 2022		19,896,477
Beginning balance at Nov. 30, 2022	191,370	$ 20	168,092	459,439	(34,873)	$ (401,308)
Beginning balance (in shares) at Nov. 30, 2022						6,308,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,261		2,261
Cash dividends	(11,324)			(11,324)
Repurchases of common stock (in shares)						9,250
Repurchases of common stock	(1,569)					$ (1,569)
Foreign currency translation adjustment	8				8
Net income	16,526			16,526
Ending balance (in shares) at Feb. 28, 2023		19,896,477
Ending balance at Feb. 28, 2023	197,272	$ 20	170,353	464,641	(34,865)	$ (402,877)
Ending balance (in shares) at Feb. 28, 2023						6,318,131
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	813		813
Cash dividends	(11,315)			(11,315)
Repurchases of common stock (in shares)						10,000
Repurchases of common stock	(1,793)					$ (1,793)
Foreign currency translation adjustment	1,955				1,955
Net income	18,895			18,895
Ending balance (in shares) at May. 31, 2023		19,896,477
Ending balance at May. 31, 2023	$ 205,827	$ 20	171,166	472,221	(32,910)	$ (404,670)
Ending balance (in shares) at May. 31, 2023						6,328,131
Beginning balance (in shares) at Aug. 31, 2023	13,563,434	19,905,815
Beginning balance at Aug. 31, 2023	$ 210,178	$ 20	171,546	477,488	(31,206)	$ (407,670)
Beginning balance (in shares) at Aug. 31, 2023	6,342,381					6,342,381
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes (in shares)		5,680
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes	$ (678)		(678)
Stock-based compensation	2,271		2,271
Cash dividends	(11,297)			(11,297)
Repurchases of common stock (in shares)						11,500
Repurchases of common stock	(2,414)					$ (2,414)
Foreign currency translation adjustment	390				390
Net income	17,482			17,482
Ending balance (in shares) at Nov. 30, 2023		19,911,495
Ending balance at Nov. 30, 2023	$ 215,932	$ 20	173,139	483,673	(30,816)	$ (410,084)
Ending balance (in shares) at Nov. 30, 2023						6,353,881
Beginning balance (in shares) at Aug. 31, 2023	13,563,434	19,905,815
Beginning balance at Aug. 31, 2023	$ 210,178	$ 20	171,546	477,488	(31,206)	$ (407,670)
Beginning balance (in shares) at Aug. 31, 2023	6,342,381					6,342,381
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	$ (94)
Net income	$ 52,860
Ending balance (in shares) at May. 31, 2024	13,547,637	19,924,268
Ending balance at May. 31, 2024	$ 222,242	$ 20	174,177	495,109	(31,300)	$ (415,764)
Ending balance (in shares) at May. 31, 2024	6,376,631					6,376,631
Beginning balance (in shares) at Nov. 30, 2023		19,911,495
Beginning balance at Nov. 30, 2023	$ 215,932	$ 20	173,139	483,673	(30,816)	$ (410,084)
Beginning balance (in shares) at Nov. 30, 2023						6,353,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes (in shares)		8,554
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes	(1,742)		(1,742)
Stock-based compensation	1,866		1,866
Cash dividends	(11,976)			(11,976)
Repurchases of common stock (in shares)						11,500
Repurchases of common stock	(2,905)					$ (2,905)
Foreign currency translation adjustment	(433)				(433)
Net income	15,536			15,536
Ending balance (in shares) at Feb. 29, 2024		19,920,049
Ending balance at Feb. 29, 2024	216,278	$ 20	173,263	487,233	(31,249)	$ (412,989)
Ending balance (in shares) at Feb. 29, 2024						6,365,381
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes (in shares)		4,219
Issuance of common stock under share-based compensation plan, net of shares withheld for taxes	0		0
Stock-based compensation	914		914
Cash dividends	(11,966)			(11,966)
Repurchases of common stock (in shares)						11,250
Repurchases of common stock	(2,775)					$ (2,775)
Foreign currency translation adjustment	(51)				(51)
Net income	$ 19,842			19,842
Ending balance (in shares) at May. 31, 2024	13,547,637	19,924,268
Ending balance at May. 31, 2024	$ 222,242	$ 20	$ 174,177	$ 495,109	$ (31,300)	$ (415,764)
Ending balance (in shares) at May. 31, 2024	6,376,631					6,376,631

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	May 31, 2024	Feb. 29, 2024	Nov. 30, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.88	$ 0.88	$ 0.83	$ 0.83	$ 0.83	$ 0.78

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	May 31, 2024	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022	May 31, 2024	May 31, 2023	Aug. 31, 2023
Operating activities:
Net income	$ 19,842	$ 17,482	$ 18,895	$ 13,997	$ 52,860	$ 49,418
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,503		2,075		7,186	5,939
Net (gains) losses on sales and disposals of property and equipment					(141)	20
Deferred income taxes					539	(376)
Stock-based compensation					5,051	5,793
Amortization of cloud computing implementation costs					650	212
Unrealized foreign currency exchange losses (gains)					108	(1,780)
Provision for credit losses					325	18
Write-off of inventories					1,347	693
Changes in assets and liabilities:
Trade and other accounts receivable					(15,771)	(9,015)
Inventories					9,137	9,826
Other assets					(186)	(538)
Operating lease assets and liabilities, net					(26)	55
Accounts payable and accrued liabilities					(347)	(7,086)
Accrued payroll and related expenses					1,915	1,470
Other long-term liabilities and income taxes payable					2,177	944
Net cash provided by operating activities					64,824	55,593
Investing activities:
Purchases of property and equipment					(3,359)	(4,650)
Proceeds from sales of property and equipment					457	437
Acquisition of business, net of cash acquired					(6,201)	0
Net cash used in investing activities					(9,103)	(4,213)
Financing activities:
Treasury stock purchases					(8,094)	(7,434)
Dividends paid					(35,239)	(33,273)
Repayments of long-term senior notes					(800)	(800)
Net repayments from revolving credit facility					(11,592)	(11,917)
Shares withheld to cover taxes upon conversions of equity awards					(2,420)	(600)
Net cash used in financing activities					(58,145)	(54,024)
Effect of exchange rate changes on cash and cash equivalents					(419)	3,204
Net (decrease) increase in cash and cash equivalents					(2,843)	560
Cash and cash equivalents at beginning of period		$ 48,143		$ 37,843	48,143	37,843	$ 37,843
Cash and cash equivalents at end of period	$ 45,300		$ 38,403		45,300	38,403	$ 48,143
Supplemental disclosure of noncash investing activities:
Accrued capital expenditures					205	813
Finance lease obligation settled with prepaid deposit					$ 3,855	$ 0

The Company

The Company	9 Months Ended
The Company	May 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company WD-40 Company (the “Company”), incorporated in Delaware and based in San Diego, California, is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. The Company owns a wide range of brands that include maintenance products and homecare and cleaning products: WD-40® Multi-Use Product, WD-40 Specialist®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®. The Company’s products are sold in various locations around the world. Maintenance products are sold worldwide in markets throughout North, Central and South America, Asia, Australia, Europe, India, 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 hardware stores, automotive parts outlets, industrial distributors and suppliers, mass retail and home center stores, value retailers, grocery stores, online retailers, warehouse club stores, farm supply, sport retailers, and independent bike dealers.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Consolidation The unaudited condensed consolidated financial statements included herein have been prepared by the Company 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, 2023 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 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 periods. Actual results could materially differ from those estimates. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. Global economies have experienced significant volatility in recent years. Although the Company’s estimates consider current conditions, the inputs into certain of the Company’s significant and critical accounting estimates include judgments and assumptions about the economic implications of factors that have been subject to such volatility and how management expects them to change in the future, as appropriate. It is possible that actual results experienced may differ materially from the Company’s estimates in future periods, which could materially affect its results of operations and financial condition. 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 utilizes foreign currency forward contracts to limit its exposure to net asset balances held in non-functional currencies, primarily at its U.K. subsidiary. The Company 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 in other income (expense), net 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, 2024, the Company had a notional amount of $4.1 million outstanding in foreign currency forward contracts, which matured in June 2024. Unrealized net gains and losses related to foreign currency forward contracts were not significant at May 31, 2024 and August 31, 2023. Realized net gains and losses related to foreign currency forward contracts were not significant for the three and nine months ended May 31, 2024 and 2023. Both unrealized and realized net gains and losses are recorded in other (expense) income, net in the Company’s condensed consolidated statements of operations. Functional Currencies The reporting currency of the Company is the U.S. Dollar. The functional currency of each of the Company’s subsidiaries is based on the currency of the economic environment in which it operates. Management periodically assesses the functional currency of each subsidiary in accordance with Accounting Standards Codification (“ASC”) 830, “ Foreign Currency Matters ”. The functional currency of the Company’s U.K. subsidiary, the entity in which the EIMEA results are generated, is the Pound Sterling. Trends within EIMEA have indicated a shift towards the Euro over time, particularly those pertaining to sales, cost of products sold and operating expenses. Management expects these trends may become other-than-temporary in a future period, which could result in a change in functional currency from Pound Sterling to Euro in that period. While the Company is in the process of evaluating the materiality of the overall impact of such a change, it does not expect that the impact to income from operations would be material. Fair Value of Financial Instruments 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, 2024, the Company had no assets or liabilities that are measured at fair value in the financial statements on a recurring basis, except for foreign currency forward contracts, which are classified as Level 2 within the fair value hierarchy. The carrying values of cash equivalents and short-term borrowings are recorded at cost, which approximates their fair values, primarily due to their short-term nature. In addition, the carrying value of borrowings held under the Company’s revolving credit facility approximates fair value, based on Level 2 inputs, due to the variable nature of underlying interest rates, which generally reflect market conditions. The Company’s fixed rate long-term borrowings consist of senior notes and are recorded at carrying value. The Company estimates that the fair value of its senior notes, based on Level 2 inputs, was approximately $58.9 million as of May 31, 2024, which was determined based on a discounted cash flow analysis using current market interest rates for instruments with similar terms, compared to their carrying value of $66.8 million. During the nine months ended May 31, 2024, the Company did not record any significant nonrecurring fair value measurements for assets or liabilities in periods subsequent to their initial recognition. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” These amendments primarily require enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The amendments are effective for the Company’s annual periods beginning September 1, 2024, and interim periods beginning September 1, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is in the process of evaluating this ASU to determine its impact on the Company’s disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company’s annual periods beginning September 1, 2025, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is in the process of evaluating this ASU to determine its impact on the Company’s disclosures.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	May 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions On March 4, 2024, WD-40 Holding Company Brasil Ltda., a wholly-owned subsidiary of the Company, acquired all of the issued and outstanding capital stock of the Company’s Brazilian distributor, Theron Marketing Ltda. (“Theron”), from M12 Participações Empresarias S.A. for total consideration of $6.9 million. Contingent consideration of $0.3 million is included in the total purchase price and recorded as a liability in the Company’s condensed consolidated balance sheets. With this transaction, the Company began direct distribution within Brazil in March 2024. Under the terms of the purchase agreement, the Company acquired assets with approximate fair values of $3.0 million of intangible assets, including customer relationships and a non-compete agreement, $3.4 million of accounts receivable, $0.6 million of inventory, and assumed liabilities with an approximate fair value of $1.6 million. The total consideration paid less the fair value of net assets acquired resulted in $1.5 million of goodwill. Transaction-related expenses were not material. The following table summarizes the fair value of assets acquired and liabilities assumed on the condensed consolidated balance sheets as of March 4, 2024 (in thousands): March 4, Fair value of consideration paid Cash, net of cash acquired $ 6,201 Other consideration 703 Total consideration paid 6,904 Fair value of assets acquired Definite-lived intangible assets 2,959 Tangible assets acquired 4,069 Total assets 7,028 Fair value of liabilities assumed 1,604 Fair value of net assets acquired 5,424 Goodwill incident to acquisition $ 1,481 The transaction was treated as a business combination. The Company recognized goodwill of $1.5 million as of March 4, 2024, which is calculated as the excess of the consideration exchanged as compared to the fair value of identifiable assets acquired. The Company’s accounting for the acquisition has not been finalized and could necessitate a one-year measurement period of determination from the acquisition date. Goodwill is expected to be deductible for tax purposes. See Note 6 to the condensed consolidated financial statements for further information on goodwill and other intangible assets. Pro forma results are not presented because they are not material to the Company’s consolidated financial results.

Inventories

Inventories	9 Months Ended
Inventories	May 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): May 31, August 31, Product held at third-party contract manufacturers $ 6,749 $ 6,680 Raw materials and components 10,673 11,924 Work-in-process 759 497 Finished goods 58,395 67,421 Total $ 76,576 $ 86,522

Property and Equipment and Capi

Property and Equipment and Capitalized Cloud-Based Software Implementation Costs	9 Months Ended
	May 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment and Capitalized Cloud-Based Software Implementation Costs	Property and Equipment and Capitalized Cloud-Based Software Implementation Costs Property and equipment, net, consisted of the following (in thousands): May 31, August 31, Machinery, equipment and vehicles $ 55,083 $ 49,804 Buildings and improvements 27,941 27,555 Computer and office equipment 6,582 6,151 Internal-use software 10,179 11,277 Furniture and fixtures 3,082 3,027 Capital in progress 3,414 7,937 Land 4,222 4,220 Subtotal 110,503 109,971 Less: accumulated depreciation and amortization (46,600) (43,180) Total $ 63,903 $ 66,791 As of May 31, 2024 and August 31, 2023, the Company’s condensed consolidated balance sheets included $12.4 million and $11.0 million, respectively, of capitalized cloud-based implementation costs recorded as other assets within the Company’s condensed consolidated balance sheets. These balances primarily consist of capitalized implementation costs related to a new cloud-based enterprise resource planning (“ERP”) system which the Company placed into service in the U.S. during the second quarter of fiscal year 2024. The useful lives of the Company’s internal-use software and capitalized cloud computing implementation costs are generally three

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill The Company recorded goodwill on March 4, 2024 incident to its acquisition of Theron. At the time of acquisition a fair value study was conducted to determine the goodwill created as part of the transaction. The following table summarizes the changes in the carrying amounts of goodwill by segment (in thousands): Americas EIMEA Asia-Pacific Total Balance as of August 31, 2023 $ 85,436 $ 8,860 $ 1,209 $ 95,505 Goodwill incident to acquisition 1,481 - - 1,481 Translation adjustments (71) 12 - (59) Balance as of May 31, 2024 $ 86,846 $ 8,872 $ 1,209 $ 96,927 There were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its goodwill as of May 31, 2024. To date, there have been no impairment losses identified and recorded related to the Company’s goodwill. Definite-lived Intangible Assets The Company’s definite-lived intangible assets include the Spot Shot, Carpet Fresh, 1001, EZ REACH and GT85 trade names at both May 31, 2024 and August 31, 2023. In addition, intangible assets related to customer relationships and a non-compete agreement were acquired in connection with the Company’s purchase of Theron during the nine months ended May 31, 2024. All of these assets are included in other intangible assets, net in the Company’s condensed consolidated balance sheets. The weighted-average useful life of the customer relationships and non-compete agreement acquired from Theron is 14.80 years. The following table summarizes the definite-lived intangible assets and the related accumulated amortization (in thousands): May 31, August 31, Gross carrying amount $ 35,862 $ 35,877 Definite-lived intangible assets acquired 2,959 - Accumulated amortization (32,139) (31,207) Net carrying amount $ 6,682 $ 4,670 There has been no impairment charge for the nine months ended May 31, 2024 and there were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its existing definite-lived intangible assets. Changes in the carrying amounts of definite-lived intangible assets by segment for the nine months ended May 31, 2024 are summarized below (in thousands): Americas EIMEA Asia-Pacific Total Balance as of August 31, 2023 $ 3,624 $ 1,046 - $ 4,670 Definite-lived intangible assets acquired 2,959 - - 2,959 Amortization expense (656) (150) - (806) Translation adjustments (135) (6) - (141) Balance as of May 31, 2024 $ 5,792 $ 890 - $ 6,682 The estimated amortization expense for the Company’s definite-lived intangible assets is not significant in any future individual fiscal year.

Leases

Leases	9 Months Ended
Leases	May 31, 2024
Leases [Abstract]
Leases	Leases Right-of-use assets and lease liabilities consisted of the following (in thousands): May 31, August 31, Assets: Operating lease right-of-use assets $ 7,960 $ 7,820 Finance lease right-of-use asset 3,630 - Total right-of-use assets $ 11,590 $ 7,820 Liabilities: Current operating lease liabilities (1) $ 1,997 $ 2,144 Long-term operating lease liabilities 6,072 5,832 Total operating lease liabilities $ 8,069 $ 7,976 (1) Current operating lease liabilities are classified in accrued liabilities on the Company’s condensed consolidated balance sheets.
Leases	Leases Right-of-use assets and lease liabilities consisted of the following (in thousands): May 31, August 31, Assets: Operating lease right-of-use assets $ 7,960 $ 7,820 Finance lease right-of-use asset 3,630 - Total right-of-use assets $ 11,590 $ 7,820 Liabilities: Current operating lease liabilities (1) $ 1,997 $ 2,144 Long-term operating lease liabilities 6,072 5,832 Total operating lease liabilities $ 8,069 $ 7,976 (1) Current operating lease liabilities are classified in accrued liabilities on the Company’s condensed consolidated balance sheets.

Accrued and Other Liabilities

Accrued and Other Liabilities	9 Months Ended
Accrued and Other Liabilities	May 31, 2024
Payables and Accruals [Abstract]
Accrued and Other Liabilities	Accrued and Other Liabilities Accrued liabilities consisted of the following (in thousands): May 31, August 31, Accrued advertising and sales promotion expenses $ 15,283 $ 14,472 Accrued professional services fees 2,405 1,924 Accrued sales taxes and other taxes 3,134 2,618 Deferred revenue 2,185 4,552 Short-term operating lease liability 1,997 2,144 Other 4,693 4,290 Total $ 29,697 $ 30,000 Accrued payroll and related expenses consisted of the following (in thousands): May 31, August 31, Accrued incentive compensation $ 7,661 $ 6,698 Accrued payroll 5,508 4,298 Accrued payroll taxes 2,218 1,650 Accrued profit sharing 2,785 3,561 Other 568 515 Total $ 18,740 $ 16,722

Debt

Debt	9 Months Ended
Debt	May 31, 2024
Debt Disclosure [Abstract]
Debt	Debt As of May 31, 2024, the Company held borrowings under two separate agreements as detailed below. Note Purchase and Private Shelf Agreement The Company holds borrowings under its Note Purchase and Private Shelf Agreement, as amended (the “Note Agreement”) by and among the Company, PGIM, Inc. (“Prudential”), and certain affiliates and managed accounts of Prudential (the “Note Purchasers”). As of May 31, 2024, the Company had outstanding balances on its series A, B and C notes issued under this Note Agreement. The Note Agreement was most recently amended on April 30, 2024 (the “Fourth Amendment”). The Fourth Amendment permitted the Company to enter into an amendment to its revolving credit agreement with Bank of America and also included certain conforming amendments to the credit agreement, including the revision of financial and restrictive covenants. Credit Agreement On April 30, 2024, the Company and certain subsidiaries of the Company, entered into a Second Amended and Restated Credit Agreement with Bank of America, N.A. (the “Credit Agreement”). The Credit Agreement modified certain terms and conditions of the Company’s previous Amended and Restated Agreement dated March 16, 2020 (as amended on September 30, 2020, and November 29, 2021), and extended the maturity date for the revolving credit facility from September 30, 2025 to April 30, 2029. Borrowings under the Credit Agreement will be used for the Company’s various operating, investing and financing needs. The Company’s Credit Agreement decreased the revolving commitment for borrowing by the Company from $150.0 million to $125.0 million and decreased the sublimit from $100.0 million to $95.0 million for WD-40 Company Limited, a wholly owned operating subsidiary of the Company for Europe, India, the Middle East and Africa. In addition, the Company’s index rate under the Credit Agreement for U.S. Dollar borrowings changed from the Bloomberg Short-term Bank Yield Index rate to the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York. Short-term and long-term borrowings under the Company’s Credit Agreement and Note Agreement consisted of the following (in thousands): Issuance Maturities May 31, August 31, Credit Agreement – revolving credit facility (1) Various 4/30/2029 $ 40,989 $ 52,943 Note Agreement Series A Notes – 3.39% fixed rate (2) 11/15/2017 2024-2032 14,800 15,600 Series B Notes – 2.50% fixed rate (3) 9/30/2020 11/15/2027 26,000 26,000 Series C Notes – 2.69% fixed rate (3) 9/30/2020 11/15/2030 26,000 26,000 Total borrowings 107,789 120,543 Short-term portion of borrowings (22,316) (10,800) Total long-term borrowings $ 85,473 $ 109,743 (1) The Company has the ability to refinance any draw under the line of credit with successive short-term borrowings through the maturity date. Outstanding draws for which management has the ability and intent to refinance with successive short-term borrowings for a period of at least twelve months are classified as long-term. As of May 31, 2024, $19.5 million of this facility was classified as long-term and was entirely denominated in Euros. $21.5 million was classified as short-term and was denominated in U.S. Dollars. As of August 31, 2023, $42.9 million on this facility was classified as long-term and was denominated in Euros and Pounds Sterling. $10.0 million was classified as short-term and was denominated entirely in U.S. Dollars. Euro and Pound Sterling denominated draws fluctuate in U.S. Dollars from period to period due to changes in foreign currency exchange rates. (2) Principal payments are required semi-annually in May and November of each year in equal installments of $0.4 million through May 15, 2032, resulting in $0.8 million classified as short-term. The remaining outstanding principal in the amount of $8.4 million will become due on November 15, 2032. (3) Interest on notes is payable semi-annually in May and November of each year with no principal due until the maturity date. Both the Note Agreement and the Credit Agreement contain representations, warranties, events of default and remedies, as well as affirmative, negative and other financial covenants customary for these types of agreements. These covenants include, among other things, certain limitations on the ability of the Company and its subsidiaries to incur indebtedness, create liens, dispose of assets, make investments, declare, make or incur obligations to make certain restricted payments, including payments for the repurchase of the Company’s capital stock and enter into certain merger or consolidation transactions. The Credit Agreement includes, among other limitations on indebtedness, a $125.0 million limit on other unsecured indebtedness. Each agreement also includes a most favored lender provision which requires that any time any other lender has the benefit of one or more financial or operational covenants that is different than, or similar to, but more restrictive than those contained in its own agreement, those covenants shall be immediately and automatically incorporated by reference to the other lender’s agreement. Both the Note Agreement and the Credit Agreement require the Company to adhere to the same financial covenants. For the financial covenants, the definition of consolidated EBITDA includes the add back of non-cash stock-based compensation to consolidated net income when arriving at consolidated EBITDA. The terms of the financial covenants are as follows: • The consolidated leverage ratio cannot be greater than three and a half 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. As of May 31, 2024, the Company was in compliance with all debt covenants under both the Note Agreement and the Credit Agreement.

Share Repurchase Plan

Share Repurchase Plan	9 Months Ended
Share Repurchase Plan	May 31, 2024
Equity [Abstract]
Share Repurchase Plan	Share Repurchase Plan On June 19, 2023, the Company’s Board (the “Board”) approved a share repurchase plan (the “2023 Repurchase Plan”). Under the 2023 Repurchase Plan, which became effective on September 1, 2023, the Company is authorized to acquire up to $50.0 million of its outstanding shares through August 31, 2025. The timing and amount of repurchases are based on terms and conditions as may be acceptable to the Company’s Chief Executive Officer and Chief Financial Officer, subject to present loan covenants and in compliance with all laws and regulations applicable thereto. During the nine months ended May 31, 2024, the Company repurchased 34,250 shares at an average price of $236.32 per share, for a total cost of $8.1 million under this $50.0 million plan.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
Earnings per Common Share	May 31, 2024
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share The table below reconciles net income to net income available to common stockholders (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2024 2023 2024 2023 Net income $ 19,842 $ 18,895 $ 52,860 $ 49,418 Less: Net income allocated to participating securities (67) (82) (189) (207) Net income available to common stockholders $ 19,775 $ 18,813 $ 52,671 $ 49,211 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, 2024 2023 2024 2023 Weighted-average common shares outstanding, basic 13,552 13,573 13,556 13,582 Weighted-average dilutive securities 25 27 25 24 Weighted-average common shares outstanding, diluted 13,577 13,600 13,581 13,606 For the three months ended May 31, 2024, there were no anti-dilutive stock-based equity awards outstanding. For the nine months ended May 31, 2024, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 1,801 were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive. For the three months ended May 31, 2023, there were no anti-dilutive stock-based equity awards outstanding. For the nine months ended May 31, 2023, weighted-average stock-based equity awards outstanding that are non-participating securities in the amount of 6,068 were excluded from the calculation of diluted EPS under the treasury stock method as they were anti-dilutive.

Revenue

Revenue	9 Months Ended
Revenue	May 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table presents the Company’s revenues by segment and major source (in thousands): Three Months Ended May 31, 2024 Nine Months Ended May 31, 2024 Americas EIMEA Asia-Pacific Total Americas EIMEA Asia-Pacific Total WD-40 Multi-Use Product $ 58,559 $ 45,402 $ 15,092 $ 119,053 $ 156,113 $ 124,018 $ 53,833 $ 333,964 WD-40 Specialist $ 9,034 $ 8,407 $ 2,783 $ 20,224 $ 23,232 $ 22,598 $ 8,053 $ 53,883 Other maintenance products (1) $ 4,333 $ 3,317 $ 235 $ 7,885 $ 12,462 $ 9,388 $ 849 $ 22,699 Total maintenance products $ 71,926 $ 57,126 $ 18,110 $ 147,162 $ 191,807 $ 156,004 $ 62,735 $ 410,546 HCCP (2) $ 3,177 $ 2,273 $ 2,433 $ 7,883 $ 10,878 $ 6,462 $ 6,680 $ 24,020 Total net sales $ 75,103 $ 59,399 $ 20,543 $ 155,045 $ 202,685 $ 162,466 $ 69,415 $ 434,566 Three Months Ended May 31, 2023 Nine Months Ended May 31, 2023 Americas EIMEA Asia-Pacific Total Americas EIMEA Asia-Pacific Total WD-40 Multi-Use Product $ 54,592 $ 38,932 $ 13,627 $ 107,151 $ 146,154 $ 104,770 $ 51,076 $ 302,000 WD-40 Specialist $ 8,209 $ 7,544 $ 2,133 $ 17,886 21,910 19,677 6,979 48,566 Other maintenance products (1) $ 4,634 $ 3,245 $ 409 $ 8,288 12,068 8,354 753 21,175 Total maintenance products $ 67,435 $ 49,721 $ 16,169 $ 133,325 180,132 132,801 58,808 371,741 HCCP (2) 3,695 2,803 1,894 8,392 11,902 7,304 5,856 25,062 Total net sales $ 71,130 $ 52,524 $ 18,063 $ 141,717 $ 192,034 $ 140,105 $ 64,664 $ 396,803 (1) Other maintenance products consist of the 3-IN-ONE and GT85 brands. (2) Homecare and cleaning products (“HCCP”). Contract Balances Contract liabilities consist of deferred revenue related to undelivered products. Deferred revenue is recorded when payments have been received from customers for undelivered products. Revenue is subsequently recognized when revenue recognition criteria are met, generally when control of the product transfers to the customer. The Company had contract liabilities of $2.2 million and $4.6 million as of May 31, 2024 and August 31, 2023, respectively. Substantially all of the $4.6 million that was included in contract liabilities as of August 31, 2023 was recognized to revenue during the nine months ended May 31, 2024. These contract liabilities are recorded in accrued liabilities on the Company’s condensed consolidated balance sheets. Contract assets are recorded if the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration. The Company did not have any contract assets as of May 31, 2024 and August 31, 2023. The Company has an unconditional right to payment for its trade and other accounts receivable on the Company’s condensed consolidated balance sheets. These receivables are presented net of an allowance for credit losses of $1.3 million as of May 31, 2024 and which was not significant as of August 31, 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	May 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments The Company has ongoing relationships with various suppliers (contract manufacturers) that manufacture the Company’s products and third-party distribution centers that warehouse and ship the Company’s products to customers. The contract manufacturers maintain title and control of certain raw materials and components, materials utilized in finished products, and the finished products themselves until shipment to the Company’s third-party distribution centers or customers in accordance with agreed upon shipment terms. Although the Company has contractual minimum purchase obligations with certain contract manufacturers, such obligations are either immaterial or below the volume of goods that the Company has historically purchased. 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 months to six 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. The amounts for inventory purchased under termination commitments have been immaterial. 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 and renovation initiatives and/or supply chain initiatives. As of May 31, 2024, no such commitments were outstanding. Litigation From time to time, the Company is subject to various claims, lawsuits, investigations and proceedings arising in the ordinary course of business, including but not limited to, product liability litigation and other claims and proceedings with respect to intellectual property, breach of contract, labor and employment, tax and other matters. As of May 31, 2024, there were no unasserted claims or pending proceedings for claims against the Company that the Company believes will result in a probable loss. As to claims that the Company believes may result in a reasonably possible loss, the Company believes that no reasonably possible outcome of any such claim will have a materially adverse impact on the Company’s financial condition, results of operations or cash flows. 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, 2024. 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 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, 2024.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	May 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	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 23.2% and 22.5% of income before income taxes for the three months ended May 31, 2024 and 2023, respectively. This 0.7% increase in the effective tax rate from period to period was primarily due to the following impacts: Description of impacts on the Company’s estimated annual effective tax rate Unfavorable/(Favorable) Higher tax rates in certain foreign jurisdictions from period to period 1.7% An increase in benefit from the high tax exception associated with global intangible low-taxed income (1.1)% The provision for income taxes was 23.1% and 21.5% of income before income taxes for the nine months ended May 31, 2024 and 2023, respectively. This 1.6% increase in the effective tax rate from period to period was primarily due to the following impacts: Description of impacts on the Company’s estimated annual effective tax rate Unfavorable/(Favorable) Higher tax rates in certain foreign jurisdictions from period to period 1.5% A non-recurring charitable donation made in the first quarter of fiscal year 2023 1.2% Lower shortfalls from the settlements of stock-based equity awards in fiscal year 2024 (0.8)% An increase in benefit from the high tax exception associated with global intangible low-taxed income (0.7)% 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 2018 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 2020 are no longer subject to examination. The Company is currently under audit in various state jurisdictions for fiscal years 2021 through 2022. The Company has estimated that up to $12.7 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. This includes $12.4 million associated with the Tax Cuts and Jobs Act’s mandatory one-time “toll tax” on unremitted foreign earnings. 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
Business Segments and Foreign Operations	May 31, 2024
Segment Reporting [Abstract]
Business Segments and Foreign Operations	Business Segments and Foreign Operations The Company evaluates the performance of its segments and allocates resources to them based on sales and income from operations. The Company is organized on the basis of geographical area into the following three segments: the Americas; EIMEA; and Asia-Pacific. Segment data does not include inter-segment revenues. Unallocated corporate expenses are general corporate overhead expenses not directly attributable to the business segments and are reported separate from the Company’s identified segments. 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): For the Three Months Ended Americas EIMEA Asia-Pacific Unallocated Corporate (1) Total May 31, 2024 Net sales $ 75,103 $ 59,399 $ 20,543 $ - $ 155,045 Income from operations $ 18,382 $ 13,705 $ 6,750 $ (11,661) $ 27,176 Depreciation and amortization expense (2) $ 1,201 $ 1,180 $ 56 $ 66 $ 2,503 Interest income $ 3 $ 100 $ 33 $ - $ 136 Interest expense $ 807 $ 373 $ 2 $ - $ 1,182 May 31, 2023 Net sales $ 71,130 $ 52,524 $ 18,063 $ - $ 141,717 Income from operations $ 16,906 $ 11,966 $ 5,312 $ (8,527) $ 25,657 Depreciation and amortization expense (2) $ 911 $ 1,035 $ 53 $ 76 $ 2,075 Interest income $ - $ 40 $ 29 $ - $ 69 Interest expense $ 1,079 $ 516 $ 2 $ - $ 1,597 For the Nine Months Ended May 31, 2024 Net sales $ 202,685 $ 162,466 $ 69,415 $ - $ 434,566 Income from operations $ 45,798 $ 35,307 $ 25,264 $ (34,068) $ 72,301 Depreciation and amortization expense (2) $ 3,396 $ 3,404 $ 169 $ 217 $ 7,186 Interest income $ 3 $ 182 $ 91 $ - $ 276 Interest expense $ 1,872 $ 1,459 $ 5 $ - $ 3,336 May 31, 2023 Net sales $ 192,034 $ 140,105 $ 64,664 $ - $ 396,803 Income from operations $ 43,390 $ 28,632 $ 21,952 $ (27,485) $ 66,489 Depreciation and amortization expense (2) $ 2,658 $ 2,905 $ 149 $ 227 $ 5,939 Interest income $ 4 $ 75 $ 85 $ - $ 164 Interest expense $ 3,056 $ 1,208 $ 4 $ - $ 4,268 (1) These expenses are reported separately from the Company’s identified segments and are included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. (2) Amortization presented above includes amortization of definite-lived intangible assets and excludes amortization of implementation costs associated with cloud computing arrangements. 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.

Subsequent Event

Subsequent Event	9 Months Ended
Subsequent Event	May 31, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Dividend Declaration On June 18, 2024, the Company’s Board declared a cash dividend of $0.88 per share payable on July 31, 2024 to stockholders of record at the close of business on July 19, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024	Nov. 30, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2024	May 31, 2023
Pay vs Performance Disclosure
Net income	$ 19,842	$ 15,536	$ 17,482	$ 18,895	$ 16,526	$ 13,997	$ 52,860	$ 49,418

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	May 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The unaudited condensed consolidated financial statements included herein have been prepared by the Company 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, 2023 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 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 periods. Actual results could materially differ from those estimates. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. Global economies have experienced significant volatility in recent years. Although the Company’s estimates consider current conditions, the inputs into certain of the Company’s significant and critical accounting estimates include judgments and assumptions about the economic implications of factors that have been subject to such volatility and how management expects them to change in the future, as appropriate. It is possible that actual results experienced may differ materially from the Company’s estimates in future periods, which could materially affect its results of operations and financial condition.
Foreign Currency Forward Contracts and Functional Currencies	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 utilizes foreign currency forward contracts to limit its exposure to net asset balances held in non-functional currencies, primarily at its U.K. subsidiary. The Company 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 in other income (expense), net 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, 2024, the Company had a notional amount of $4.1 million outstanding in foreign currency forward contracts, which matured in June 2024. Unrealized net gains and losses related to foreign currency forward contracts were not significant at May 31, 2024 and August 31, 2023. Realized net gains and losses related to foreign currency forward contracts were not significant for the three and nine months ended May 31, 2024 and 2023. Both unrealized and realized net gains and losses are recorded in other (expense) income, net in the Company’s condensed consolidated statements of operations. Functional Currencies The reporting currency of the Company is the U.S. Dollar. The functional currency of each of the Company’s subsidiaries is based on the currency of the economic environment in which it operates. Management periodically assesses the functional currency of each subsidiary in accordance with Accounting Standards Codification (“ASC”) 830, “ Foreign Currency Matters ”. The functional currency of the Company’s U.K. subsidiary, the entity in which the EIMEA results are generated, is the Pound Sterling. Trends within EIMEA have indicated a shift towards the Euro over time, particularly those pertaining to sales, cost of products sold and operating expenses. Management expects these trends may become other-than-temporary in a future period, which could result in a change in functional currency from Pound Sterling to Euro in that period. While the Company is in the process of evaluating the materiality of the overall impact of such a change, it does not expect that the impact to income from operations would be material.
Fair Value of Financial Instruments	Fair Value of Financial Instruments 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, 2024, the Company had no assets or liabilities that are measured at fair value in the financial statements on a recurring basis, except for foreign currency forward contracts, which are classified as Level 2 within the fair value hierarchy. The carrying values of cash equivalents and short-term borrowings are recorded at cost, which approximates their fair values, primarily due to their short-term nature. In addition, the carrying value of borrowings held under the Company’s revolving credit facility approximates fair value, based on Level 2 inputs, due to the variable nature of underlying interest rates, which generally reflect market conditions. The Company’s fixed rate long-term borrowings consist of senior notes and are recorded at carrying value. The Company estimates that the fair value of its senior notes, based on Level 2 inputs, was approximately $58.9 million as of May 31, 2024, which was determined based on a discounted cash flow analysis using current market interest rates for instruments with similar terms, compared to their carrying value of $66.8 million. During the nine months ended May 31, 2024, the Company did not record any significant nonrecurring fair value measurements for assets or liabilities in periods subsequent to their initial recognition.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” These amendments primarily require enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The amendments are effective for the Company’s annual periods beginning September 1, 2024, and interim periods beginning September 1, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is in the process of evaluating this ASU to determine its impact on the Company’s disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	May 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of assets acquired and liabilities assumed on the condensed consolidated balance sheets as of March 4, 2024 (in thousands): March 4, Fair value of consideration paid Cash, net of cash acquired $ 6,201 Other consideration 703 Total consideration paid 6,904 Fair value of assets acquired Definite-lived intangible assets 2,959 Tangible assets acquired 4,069 Total assets 7,028 Fair value of liabilities assumed 1,604 Fair value of net assets acquired 5,424 Goodwill incident to acquisition $ 1,481

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	May 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): May 31, August 31, Product held at third-party contract manufacturers $ 6,749 $ 6,680 Raw materials and components 10,673 11,924 Work-in-process 759 497 Finished goods 58,395 67,421 Total $ 76,576 $ 86,522

Property and Equipment and Ca_2

Property and Equipment and Capitalized Cloud-Based Software Implementation Costs (Tables)	9 Months Ended
	May 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): May 31, August 31, Machinery, equipment and vehicles $ 55,083 $ 49,804 Buildings and improvements 27,941 27,555 Computer and office equipment 6,582 6,151 Internal-use software 10,179 11,277 Furniture and fixtures 3,082 3,027 Capital in progress 3,414 7,937 Land 4,222 4,220 Subtotal 110,503 109,971 Less: accumulated depreciation and amortization (46,600) (43,180) Total $ 63,903 $ 66,791

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amounts of Goodwill	The following table summarizes the changes in the carrying amounts of goodwill by segment (in thousands): Americas EIMEA Asia-Pacific Total Balance as of August 31, 2023 $ 85,436 $ 8,860 $ 1,209 $ 95,505 Goodwill incident to acquisition 1,481 - - 1,481 Translation adjustments (71) 12 - (59) Balance as of May 31, 2024 $ 86,846 $ 8,872 $ 1,209 $ 96,927
Summary of Definite-Lived Intangible Assets	The following table summarizes the definite-lived intangible assets and the related accumulated amortization (in thousands): May 31, August 31, Gross carrying amount $ 35,862 $ 35,877 Definite-lived intangible assets acquired 2,959 - Accumulated amortization (32,139) (31,207) Net carrying amount $ 6,682 $ 4,670
Summary of Changes in Carrying Amounts of Definite-Lived Intangible Assets by Segment	Changes in the carrying amounts of definite-lived intangible assets by segment for the nine months ended May 31, 2024 are summarized below (in thousands): Americas EIMEA Asia-Pacific Total Balance as of August 31, 2023 $ 3,624 $ 1,046 - $ 4,670 Definite-lived intangible assets acquired 2,959 - - 2,959 Amortization expense (656) (150) - (806) Translation adjustments (135) (6) - (141) Balance as of May 31, 2024 $ 5,792 $ 890 - $ 6,682

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	May 31, 2024
Leases [Abstract]
Schedule of Right-of-Use Assets and Lease Liabilities	Right-of-use assets and lease liabilities consisted of the following (in thousands): May 31, August 31, Assets: Operating lease right-of-use assets $ 7,960 $ 7,820 Finance lease right-of-use asset 3,630 - Total right-of-use assets $ 11,590 $ 7,820 Liabilities: Current operating lease liabilities (1) $ 1,997 $ 2,144 Long-term operating lease liabilities 6,072 5,832 Total operating lease liabilities $ 8,069 $ 7,976 (1) Current operating lease liabilities are classified in accrued liabilities on the Company’s condensed consolidated balance sheets.

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	9 Months Ended
Accrued and Other Liabilities (Tables)	May 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): May 31, August 31, Accrued advertising and sales promotion expenses $ 15,283 $ 14,472 Accrued professional services fees 2,405 1,924 Accrued sales taxes and other taxes 3,134 2,618 Deferred revenue 2,185 4,552 Short-term operating lease liability 1,997 2,144 Other 4,693 4,290 Total $ 29,697 $ 30,000
Schedule of Accrued Payroll and Related Expenses	Accrued payroll and related expenses consisted of the following (in thousands): May 31, August 31, Accrued incentive compensation $ 7,661 $ 6,698 Accrued payroll 5,508 4,298 Accrued payroll taxes 2,218 1,650 Accrued profit sharing 2,785 3,561 Other 568 515 Total $ 18,740 $ 16,722

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	May 31, 2024
Debt Disclosure [Abstract]
Schedule of Short-term and Long-term Borrowings	Short-term and long-term borrowings under the Company’s Credit Agreement and Note Agreement consisted of the following (in thousands): Issuance Maturities May 31, August 31, Credit Agreement – revolving credit facility (1) Various 4/30/2029 $ 40,989 $ 52,943 Note Agreement Series A Notes – 3.39% fixed rate (2) 11/15/2017 2024-2032 14,800 15,600 Series B Notes – 2.50% fixed rate (3) 9/30/2020 11/15/2027 26,000 26,000 Series C Notes – 2.69% fixed rate (3) 9/30/2020 11/15/2030 26,000 26,000 Total borrowings 107,789 120,543 Short-term portion of borrowings (22,316) (10,800) Total long-term borrowings $ 85,473 $ 109,743 (1) The Company has the ability to refinance any draw under the line of credit with successive short-term borrowings through the maturity date. Outstanding draws for which management has the ability and intent to refinance with successive short-term borrowings for a period of at least twelve months are classified as long-term. As of May 31, 2024, $19.5 million of this facility was classified as long-term and was entirely denominated in Euros. $21.5 million was classified as short-term and was denominated in U.S. Dollars. As of August 31, 2023, $42.9 million on this facility was classified as long-term and was denominated in Euros and Pounds Sterling. $10.0 million was classified as short-term and was denominated entirely in U.S. Dollars. Euro and Pound Sterling denominated draws fluctuate in U.S. Dollars from period to period due to changes in foreign currency exchange rates. (2) Principal payments are required semi-annually in May and November of each year in equal installments of $0.4 million through May 15, 2032, resulting in $0.8 million classified as short-term. The remaining outstanding principal in the amount of $8.4 million will become due on November 15, 2032. (3) Interest on notes is payable semi-annually in May and November of each year with no principal due until the maturity date.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
Earnings per Common Share (Tables)	May 31, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Net Income to Net Income Available to Common Shareholders	The table below reconciles net income to net income available to common stockholders (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2024 2023 2024 2023 Net income $ 19,842 $ 18,895 $ 52,860 $ 49,418 Less: Net income allocated to participating securities (67) (82) (189) (207) Net income available to common stockholders $ 19,775 $ 18,813 $ 52,671 $ 49,211
Schedule of Weighted Average Number of Shares	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, 2024 2023 2024 2023 Weighted-average common shares outstanding, basic 13,552 13,573 13,556 13,582 Weighted-average dilutive securities 25 27 25 24 Weighted-average common shares outstanding, diluted 13,577 13,600 13,581 13,606

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	May 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenues by Segment and Major Source	The following table presents the Company’s revenues by segment and major source (in thousands): Three Months Ended May 31, 2024 Nine Months Ended May 31, 2024 Americas EIMEA Asia-Pacific Total Americas EIMEA Asia-Pacific Total WD-40 Multi-Use Product $ 58,559 $ 45,402 $ 15,092 $ 119,053 $ 156,113 $ 124,018 $ 53,833 $ 333,964 WD-40 Specialist $ 9,034 $ 8,407 $ 2,783 $ 20,224 $ 23,232 $ 22,598 $ 8,053 $ 53,883 Other maintenance products (1) $ 4,333 $ 3,317 $ 235 $ 7,885 $ 12,462 $ 9,388 $ 849 $ 22,699 Total maintenance products $ 71,926 $ 57,126 $ 18,110 $ 147,162 $ 191,807 $ 156,004 $ 62,735 $ 410,546 HCCP (2) $ 3,177 $ 2,273 $ 2,433 $ 7,883 $ 10,878 $ 6,462 $ 6,680 $ 24,020 Total net sales $ 75,103 $ 59,399 $ 20,543 $ 155,045 $ 202,685 $ 162,466 $ 69,415 $ 434,566 Three Months Ended May 31, 2023 Nine Months Ended May 31, 2023 Americas EIMEA Asia-Pacific Total Americas EIMEA Asia-Pacific Total WD-40 Multi-Use Product $ 54,592 $ 38,932 $ 13,627 $ 107,151 $ 146,154 $ 104,770 $ 51,076 $ 302,000 WD-40 Specialist $ 8,209 $ 7,544 $ 2,133 $ 17,886 21,910 19,677 6,979 48,566 Other maintenance products (1) $ 4,634 $ 3,245 $ 409 $ 8,288 12,068 8,354 753 21,175 Total maintenance products $ 67,435 $ 49,721 $ 16,169 $ 133,325 180,132 132,801 58,808 371,741 HCCP (2) 3,695 2,803 1,894 8,392 11,902 7,304 5,856 25,062 Total net sales $ 71,130 $ 52,524 $ 18,063 $ 141,717 $ 192,034 $ 140,105 $ 64,664 $ 396,803 (1) Other maintenance products consist of the 3-IN-ONE and GT85 brands. (2) Homecare and cleaning products (“HCCP”).

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	May 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	This 0.7% increase in the effective tax rate from period to period was primarily due to the following impacts: Description of impacts on the Company’s estimated annual effective tax rate Unfavorable/(Favorable) Higher tax rates in certain foreign jurisdictions from period to period 1.7% An increase in benefit from the high tax exception associated with global intangible low-taxed income (1.1)% Description of impacts on the Company’s estimated annual effective tax rate Unfavorable/(Favorable) Higher tax rates in certain foreign jurisdictions from period to period 1.5% A non-recurring charitable donation made in the first quarter of fiscal year 2023 1.2% Lower shortfalls from the settlements of stock-based equity awards in fiscal year 2024 (0.8)% An increase in benefit from the high tax exception associated with global intangible low-taxed income (0.7)%

Business Segments and Foreign_2

Business Segments and Foreign Operations (Tables)	9 Months Ended
Business Segments and Foreign Operations (Tables)	May 31, 2024
Segment Reporting [Abstract]
Summary Information by Reportable Segments	Summary information about reportable segments is as follows (in thousands): For the Three Months Ended Americas EIMEA Asia-Pacific Unallocated Corporate (1) Total May 31, 2024 Net sales $ 75,103 $ 59,399 $ 20,543 $ - $ 155,045 Income from operations $ 18,382 $ 13,705 $ 6,750 $ (11,661) $ 27,176 Depreciation and amortization expense (2) $ 1,201 $ 1,180 $ 56 $ 66 $ 2,503 Interest income $ 3 $ 100 $ 33 $ - $ 136 Interest expense $ 807 $ 373 $ 2 $ - $ 1,182 May 31, 2023 Net sales $ 71,130 $ 52,524 $ 18,063 $ - $ 141,717 Income from operations $ 16,906 $ 11,966 $ 5,312 $ (8,527) $ 25,657 Depreciation and amortization expense (2) $ 911 $ 1,035 $ 53 $ 76 $ 2,075 Interest income $ - $ 40 $ 29 $ - $ 69 Interest expense $ 1,079 $ 516 $ 2 $ - $ 1,597 For the Nine Months Ended May 31, 2024 Net sales $ 202,685 $ 162,466 $ 69,415 $ - $ 434,566 Income from operations $ 45,798 $ 35,307 $ 25,264 $ (34,068) $ 72,301 Depreciation and amortization expense (2) $ 3,396 $ 3,404 $ 169 $ 217 $ 7,186 Interest income $ 3 $ 182 $ 91 $ - $ 276 Interest expense $ 1,872 $ 1,459 $ 5 $ - $ 3,336 May 31, 2023 Net sales $ 192,034 $ 140,105 $ 64,664 $ - $ 396,803 Income from operations $ 43,390 $ 28,632 $ 21,952 $ (27,485) $ 66,489 Depreciation and amortization expense (2) $ 2,658 $ 2,905 $ 149 $ 227 $ 5,939 Interest income $ 4 $ 75 $ 85 $ - $ 164 Interest expense $ 3,056 $ 1,208 $ 4 $ - $ 4,268 (1) These expenses are reported separately from the Company’s identified segments and are included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. (2) Amortization presented above includes amortization of definite-lived intangible assets and excludes amortization of implementation costs associated with cloud computing arrangements.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Unrealized foreign currency gains (losses)			$ (108,000)	$ 1,780,000
Total long-term borrowings	$ 85,473,000		85,473,000		$ 109,743,000
Level 2 \| Senior Notes
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Fair value of senior notes	58,900,000		58,900,000
Total long-term borrowings	66,800,000		66,800,000
Level 2 \| Recurring
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Assets, fair value disclosure	0		0
Liabilities, fair value disclosure	0		0
Level 2 \| Nonrecurring
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Assets, fair value disclosure	0		0
Liabilities, fair value disclosure	0		0
Foreign Currency Forward Contracts
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Foreign currency forward contracts outstanding	4,100,000		4,100,000
Unrealized foreign currency gains (losses)			0		$ 0
Realized foreign currency gains (losses)	$ 0	$ 0	$ 0	$ 0

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Mar. 04, 2024	May 31, 2024	Aug. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 96,927	$ 95,505
Theron
Business Acquisition [Line Items]
Consideration transferred	$ 6,904
Contingent consideration	300
Definite-lived intangible assets acquired	2,959
Accounts receivable acquired	3,400
Inventory acquired	600
Fair value of liabilities assumed	1,604
Goodwill	$ 1,481

Acquisitions - Summary of Asset

Acquisitions - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		9 Months Ended
	Mar. 04, 2024	May 31, 2024	May 31, 2023	Aug. 31, 2023
Fair value of consideration paid
Cash, net of cash acquired		$ 6,201	$ 0
Fair value of assets acquired
Goodwill incident to acquisition		$ 96,927		$ 95,505
Theron
Fair value of consideration paid
Cash, net of cash acquired	$ 6,201
Other consideration	703
Total consideration paid	6,904
Fair value of assets acquired
Definite-lived intangible assets	2,959
Tangible assets acquired	4,069
Total assets	7,028
Fair value of liabilities assumed	1,604
Fair value of net assets acquired	5,424
Goodwill incident to acquisition	$ 1,481

Inventories - Schedule Of Inven

Inventories - Schedule Of Inventories (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Inventory Disclosure [Abstract]
Product held at third-party contract manufacturers	$ 6,749	$ 6,680
Raw materials and components	10,673	11,924
Work-in-process	759	497
Finished goods	58,395	67,421
Total	$ 76,576	$ 86,522

Property and Equipment and Ca_3

Property and Equipment and Capitalized Cloud-Based Software Implementation Costs - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Property, Plant and Equipment [Line Items]
Subtotal	$ 110,503	$ 109,971
Less: accumulated depreciation and amortization	(46,600)	(43,180)
Total	63,903	66,791
Machinery, equipment and vehicles
Property, Plant and Equipment [Line Items]
Subtotal	55,083	49,804
Buildings and improvements
Property, Plant and Equipment [Line Items]
Subtotal	27,941	27,555
Computer and office equipment
Property, Plant and Equipment [Line Items]
Subtotal	6,582	6,151
Internal-use software
Property, Plant and Equipment [Line Items]
Subtotal	10,179	11,277
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	3,082	3,027
Capital in progress
Property, Plant and Equipment [Line Items]
Subtotal	3,414	7,937
Land
Property, Plant and Equipment [Line Items]
Subtotal	$ 4,222	$ 4,220

Property and Equipment and Ca_4

Property and Equipment and Capitalized Cloud-Based Software Implementation Costs - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023	Aug. 31, 2023
Capitalized Cloud-Based Asset
Business Acquisition [Line Items]
Capitalized computer software, net	$ 12,400,000		$ 12,400,000		$ 11,000,000
Capitalized computer software, accumulated amortization	1,400,000		1,400,000		$ 700,000
Capitalized computer software, amortization	$ 0	$ 0	$ 600,000	$ 0
Capitalized Cloud-Based Asset \| Minimum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	3 years		3 years
Capitalized Cloud-Based Asset \| Maximum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	5 years		5 years
Capitalized Cloud-Based Asset, ERP System Implementation
Business Acquisition [Line Items]
Property, plant and equipment, useful life	5 years		5 years
Capitalized Cloud-Based Asset, ERP System
Business Acquisition [Line Items]
Property, plant and equipment, useful life	10 years		10 years

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amounts of Goodwill (Details) $ in Thousands	9 Months Ended
	May 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 95,505
Goodwill incident to acquisition	1,481
Translation adjustments	(59)
Ending balance	96,927
Americas
Goodwill [Roll Forward]
Beginning balance	85,436
Goodwill incident to acquisition	1,481
Translation adjustments	(71)
Ending balance	86,846
EIMEA
Goodwill [Roll Forward]
Beginning balance	8,860
Goodwill incident to acquisition	0
Translation adjustments	12
Ending balance	8,872
Asia-Pacific
Goodwill [Roll Forward]
Beginning balance	1,209
Goodwill incident to acquisition	0
Translation adjustments	0
Ending balance	$ 1,209

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details)	9 Months Ended
Goodwill and Other Intangible Assets - Narrative (Details)	May 31, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill, accumulated impairment loss	$ 0
Intangible assets, impairment charge	$ 0
Theron
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	14 years 9 months 18 days

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 35,862	$ 35,877
Definite-lived intangible assets acquired	2,959	0
Accumulated amortization	(32,139)	(31,207)
Net carrying amount	$ 6,682	$ 4,670

Goodwill and Other Intangible_6

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, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Finite-Lived Intangible Assets [Roll Forward]
Beginning balance			$ 4,670
Definite-lived intangible assets acquired			2,959
Amortization expense	$ (303)	$ (250)	(806)	$ (753)
Translation adjustments			(141)
Ending balance	6,682		6,682
Americas
Finite-Lived Intangible Assets [Roll Forward]
Beginning balance			3,624
Definite-lived intangible assets acquired			2,959
Amortization expense			(656)
Translation adjustments			(135)
Ending balance	5,792		5,792
EIMEA
Finite-Lived Intangible Assets [Roll Forward]
Beginning balance			1,046
Definite-lived intangible assets acquired			0
Amortization expense			(150)
Translation adjustments			(6)
Ending balance	890		890
Asia-Pacific
Finite-Lived Intangible Assets [Roll Forward]
Beginning balance			0
Definite-lived intangible assets acquired			0
Amortization expense			0
Translation adjustments			0
Ending balance	$ 0		$ 0

Leases - Right-of-Use Assets an

Leases - Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 7,960	$ 7,820
Finance lease right-of-use asset	3,630	0
Total right-of-use assets	11,590	7,820
Current operating lease liabilities	1,997	2,144
Long-term operating lease liabilities	6,072	5,832
Total operating lease liabilities	$ 8,069	$ 7,976
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	May 31, 2024	Aug. 31, 2023
Leases [Abstract]
Prepaid deposit		$ 3,800,000
Finance lease liability	$ 0

Accrued and Other Liabilities -

Accrued and Other Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Payables and Accruals [Abstract]
Accrued advertising and sales promotion expenses	$ 15,283	$ 14,472
Accrued professional services fees	2,405	1,924
Accrued sales taxes and other taxes	3,134	2,618
Deferred revenue	2,185	4,552
Short-term operating lease liability	1,997	2,144
Other	4,693	4,290
Total	$ 29,697	$ 30,000

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Schedule of Accrued Payroll and Related Expenses (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Payables and Accruals [Abstract]
Accrued incentive compensation	$ 7,661	$ 6,698
Accrued payroll	5,508	4,298
Accrued payroll taxes	2,218	1,650
Accrued profit sharing	2,785	3,561
Other	568	515
Total	$ 18,740	$ 16,722

Debt - Narrative (Details)

Debt - Narrative (Details)	9 Months Ended
Debt - Narrative (Details)	May 31, 2024 USD ($) agreement	Apr. 30, 2024 USD ($)	Nov. 29, 2021 USD ($)
Debt Instrument [Line Items]
Number of agreements \| agreement	2
Other Unsecured Debt
Debt Instrument [Line Items]
Revolving credit facility, amount	$ 125,000,000
Note Agreement and the Credit Agreement
Debt Instrument [Line Items]
Consolidated leverage ratio	3.5
Consolidated interest coverage ratio	3
Credit Agreement - Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, amount		$ 125,000,000	$ 150,000,000
Credit Agreement - Revolving Credit Facility \| Europe, The Middle East, Africa And India Subsidiary
Debt Instrument [Line Items]
Revolving credit facility, amount		$ 95,000,000	$ 100,000,000

Debt - Schedule of Short-term a

Debt - Schedule of Short-term and Long-term Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2024	Aug. 31, 2023
Debt Instrument [Line Items]
Total borrowings	$ 107,789	$ 120,543
Short-term portion of borrowings	(22,316)	(10,800)
Total long-term borrowings	$ 85,473	109,743
Series A Notes
Debt Instrument [Line Items]
Interest rate	3.39%
Issuance	Nov. 15, 2017
Total borrowings	$ 14,800	15,600
Short term portion of long-term debt	800
Periodic payment amount	400
Remaining principal payment	$ 8,400
Series B Notes
Debt Instrument [Line Items]
Interest rate	2.50%
Issuance	Sep. 30, 2020
Total borrowings	$ 26,000	26,000
Series C Notes
Debt Instrument [Line Items]
Interest rate	2.69%
Issuance	Sep. 30, 2020
Total borrowings	$ 26,000	26,000
Credit Agreement - revolving credit facility
Debt Instrument [Line Items]
Total borrowings	40,989	52,943
Total long-term borrowings	19,500	42,900
Short term portion of long-term debt	$ 21,500	$ 10,000

Share Repurchase Plan (Details)

Share Repurchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	May 31, 2024	May 31, 2023	Jun. 19, 2023
Equity [Abstract]
Share buy-back plan, amount authorized			$ 50,000
Number of shares repurchased (in shares)	34,250
Average price of shares repurchased (in dollars per share)	$ 236.32
Total cost of repurchased shares	$ 8,094	$ 7,434

Earnings per Common Share - Sch

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, 2024	Feb. 29, 2024	Nov. 30, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2024	May 31, 2023
Earnings Per Share [Abstract]
Net income	$ 19,842	$ 15,536	$ 17,482	$ 18,895	$ 16,526	$ 13,997	$ 52,860	$ 49,418
Less: Net income allocated to participating securities	(67)			(82)			(189)	(207)
Net income available to common stockholders, basic	19,775			18,813			52,671	49,211
Net income available to common stockholders, diluted	$ 19,775			$ 18,813			$ 52,671	$ 49,211

Earnings per Common Share - S_2

Earnings per Common Share - Schedule of Weighted Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Earnings Per Share [Abstract]
Weighted-average common shares outstanding, basic (in shares)	13,552	13,573	13,556	13,582
Weighted-average dilutive securities (in shares)	25	27	25	24
Weighted-average common shares outstanding, diluted (in shares)	13,577	13,600	13,581	13,606

Earnings per Common Share- Narr

Earnings per Common Share- Narrative (Details) - shares	3 Months Ended		9 Months Ended
Earnings per Common Share- Narrative (Details) - shares	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Earnings Per Share [Abstract]
Anti-dilutive stock options outstanding (in shares)	0	0	1,801	6,068

Revenue - Schedule of Revenues

Revenue - Schedule of Revenues by Segment and Major Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Revenue from External Customer [Line Items]
Total net sales	$ 155,045	$ 141,717	$ 434,566	$ 396,803
Total maintenance products
Revenue from External Customer [Line Items]
Total net sales	147,162	133,325	410,546	371,741
WD-40 Multi-Use Product
Revenue from External Customer [Line Items]
Total net sales	119,053	107,151	333,964	302,000
WD-40 Specialist
Revenue from External Customer [Line Items]
Total net sales	20,224	17,886	53,883	48,566
Other maintenance products
Revenue from External Customer [Line Items]
Total net sales	7,885	8,288	22,699	21,175
HCCP
Revenue from External Customer [Line Items]
Total net sales	7,883	8,392	24,020	25,062
Americas
Revenue from External Customer [Line Items]
Total net sales	75,103	71,130	202,685	192,034
Americas \| Total maintenance products
Revenue from External Customer [Line Items]
Total net sales	71,926	67,435	191,807	180,132
Americas \| WD-40 Multi-Use Product
Revenue from External Customer [Line Items]
Total net sales	58,559	54,592	156,113	146,154
Americas \| WD-40 Specialist
Revenue from External Customer [Line Items]
Total net sales	9,034	8,209	23,232	21,910
Americas \| Other maintenance products
Revenue from External Customer [Line Items]
Total net sales	4,333	4,634	12,462	12,068
Americas \| HCCP
Revenue from External Customer [Line Items]
Total net sales	3,177	3,695	10,878	11,902
EIMEA
Revenue from External Customer [Line Items]
Total net sales	59,399	52,524	162,466	140,105
EIMEA \| Total maintenance products
Revenue from External Customer [Line Items]
Total net sales	57,126	49,721	156,004	132,801
EIMEA \| WD-40 Multi-Use Product
Revenue from External Customer [Line Items]
Total net sales	45,402	38,932	124,018	104,770
EIMEA \| WD-40 Specialist
Revenue from External Customer [Line Items]
Total net sales	8,407	7,544	22,598	19,677
EIMEA \| Other maintenance products
Revenue from External Customer [Line Items]
Total net sales	3,317	3,245	9,388	8,354
EIMEA \| HCCP
Revenue from External Customer [Line Items]
Total net sales	2,273	2,803	6,462	7,304
Asia-Pacific
Revenue from External Customer [Line Items]
Total net sales	20,543	18,063	69,415	64,664
Asia-Pacific \| Total maintenance products
Revenue from External Customer [Line Items]
Total net sales	18,110	16,169	62,735	58,808
Asia-Pacific \| WD-40 Multi-Use Product
Revenue from External Customer [Line Items]
Total net sales	15,092	13,627	53,833	51,076
Asia-Pacific \| WD-40 Specialist
Revenue from External Customer [Line Items]
Total net sales	2,783	2,133	8,053	6,979
Asia-Pacific \| Other maintenance products
Revenue from External Customer [Line Items]
Total net sales	235	409	849	753
Asia-Pacific \| HCCP
Revenue from External Customer [Line Items]
Total net sales	$ 2,433	$ 1,894	$ 6,680	$ 5,856

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	May 31, 2024	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 2,200	$ 4,600
Contract assets	0	0
Allowance for credit loss	$ 1,300	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details)	9 Months Ended
Commitments and Contingencies (Details)	May 31, 2024 USD ($)
Indemnification Agreement 1 \| Senior Officers and Directors
Loss Contingencies [Line Items]
Liabilities related to indemnification agreement	$ 0
Indemnification Agreement 2
Loss Contingencies [Line Items]
Liabilities related to indemnification agreement	0
Purchase Commitment
Loss Contingencies [Line Items]
Commitment outstanding	$ 0
Minimum \| Purchase Commitment
Loss Contingencies [Line Items]
Purchase commitment period	2 months
Maximum \| Purchase Commitment
Loss Contingencies [Line Items]
Purchase commitment period	6 months

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	23.20%	22.50%	23.10%	21.50%
Increase in effective tax rate	0.70%		1.60%
Unrecognized tax benefits, amount that may be affected within next twelve months	$ 12.7		$ 12.7
Tax Cuts and Jobs Act, toll tax for accumulated foreign earnings	$ 12.4		$ 12.4

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	3 Months Ended	9 Months Ended
	May 31, 2024	May 31, 2024
Income Tax Disclosure [Abstract]
Higher tax rates in certain foreign jurisdictions from period to period	1.70%	1.50%
A non-recurring charitable donation made in the first quarter of fiscal year 2023		1.20%
Lower shortfalls from the settlements of stock-based equity awards in fiscal year 2024		(0.80%)
An increase in benefit from the high tax exception associated with global intangible low-taxed income	(1.10%)	(0.70%)

Business Segments and Foreign_3

Business Segments and Foreign Operations - Summary Information by Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2024 USD ($)	May 31, 2023 USD ($)	May 31, 2024 USD ($) segment	May 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			3
Net sales	$ 155,045	$ 141,717	$ 434,566	$ 396,803
Income from operations	27,176	25,657	72,301	66,489
Depreciation and amortization expense	2,503	2,075	7,186	5,939
Interest income	136	69	276	164
Interest expense	1,182	1,597	3,336	4,268
Unallocated Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Income from operations	(11,661)	(8,527)	(34,068)	(27,485)
Depreciation and amortization expense	66	76	217	227
Interest income	0	0	0	0
Interest expense	0	0	0	0
Americas
Segment Reporting Information [Line Items]
Net sales	75,103	71,130	202,685	192,034
Americas \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	75,103	71,130	202,685	192,034
Income from operations	18,382	16,906	45,798	43,390
Depreciation and amortization expense	1,201	911	3,396	2,658
Interest income	3	0	3	4
Interest expense	807	1,079	1,872	3,056
EIMEA
Segment Reporting Information [Line Items]
Net sales	59,399	52,524	162,466	140,105
EIMEA \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	59,399	52,524	162,466	140,105
Income from operations	13,705	11,966	35,307	28,632
Depreciation and amortization expense	1,180	1,035	3,404	2,905
Interest income	100	40	182	75
Interest expense	373	516	1,459	1,208
Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	20,543	18,063	69,415	64,664
Asia-Pacific \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	20,543	18,063	69,415	64,664
Income from operations	6,750	5,312	25,264	21,952
Depreciation and amortization expense	56	53	169	149
Interest income	33	29	91	85
Interest expense	$ 2	$ 2	$ 5	$ 4

Subsequent Event (Details)

Subsequent Event (Details)	Jun. 18, 2024 $ / shares
Subsequent Event
Subsequent Events [Line Items]
Cash dividend declared (in dollars per share)	$ 0.88