Enerpac Tool (EPAC) 10-Q 8 Jul 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May 31, 2016	Jun. 30, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	ATU
Entity Registrant Name	ACTUANT CORP
Entity Central Index Key	6,955
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		58,928,350

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016	Feb. 29, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Income Statement [Abstract]
Net sales	$ 305,341		$ 320,100	$ 873,641	$ 948,870
Cost of products sold	197,815		201,540	566,524	593,573
Gross profit	107,526		118,560	307,117	355,297
Selling, administrative and engineering expenses	70,120		69,569	210,202	227,809
Amortization of intangible assets	5,567		5,989	17,347	18,362
Restructuring charges	3,496		0	11,458	0
Impairment charges	0	$ 186,511	0	186,511	84,353
Operating profit (loss)	28,343		43,002	(118,401)	24,773
Financing costs, net	7,253		7,462	21,236	20,683
Other expense (income), net	751		569	1,605	(489)
Earnings (loss) before income taxes	20,339		34,971	(141,242)	4,579
Income tax (benefit) expense	(827)		(2,987)	(18,666)	6,785
Net earnings (loss)	$ 21,166		$ 37,958	$ (122,576)	$ (2,206)
Earnings (loss) per share:
Basic	$ 0.36		$ 0.64	$ (2.08)	$ (0.04)
Diluted	$ 0.36		$ 0.63	$ (2.08)	$ (0.04)
Weighted average common shares outstanding:
Basic	58,923		59,617	59,034	61,911
Diluted	59,589		60,243	59,034	61,911

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 21,166	$ 37,958	$ (122,576)	$ (2,206)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	15,314	(10,882)	(20,182)	(131,249)
Pension and other postretirement benefit plans	(13)	143	23	895
Cash flow hedges	21	40	396	(56)
Total other comprehensive loss, net of tax	15,322	(10,699)	(19,763)	(130,410)
Comprehensive income (loss)	$ 36,488	$ 27,259	$ (142,339)	$ (132,616)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2016	Aug. 31, 2015
Current assets
Cash and cash equivalents	$ 137,089	$ 168,846
Accounts receivable, net	200,102	193,081
Inventories, net	138,456	142,752
Deferred income taxes	0	12,922
Other current assets	60,086	42,788
Total current assets	535,733	560,389
Property, plant and equipment
Land, buildings and improvements	44,350	48,515
Machinery and equipment	277,174	269,983
Gross property, plant and equipment	321,524	318,498
Less: Accumulated depreciation	(203,296)	(176,040)
Property, plant and equipment, net	118,228	142,458
Goodwill	529,421	608,256
Other intangibles, net	255,921	308,762
Other long-term assets	28,117	17,052
Total assets	1,467,420	1,636,917
Current liabilities
Trade accounts payable	120,100	118,115
Accrued compensation and benefits	47,432	43,707
Current maturities of debt and short-term borrowings	15,000	3,969
Income taxes payable	1,249	14,805
Other current liabilities	58,880	54,460
Total current liabilities	242,661	235,056
Long-term debt, less current maturities	573,059	584,309
Deferred income taxes	55,532	72,941
Pension and postretirement benefit liabilities	15,689	17,828
Other long-term liabilities	56,630	53,782
Total liabilities	943,571	963,916
Shareholders’ equity
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 79,347,614 and 78,932,533 shares, respectively	15,870	15,787
Additional paid-in capital	111,535	104,308
Treasury stock, at cost, 20,326,479 and 19,726,479 shares, respectively	(614,755)	(600,630)
Retained earnings	1,244,602	1,367,176
Accumulated other comprehensive loss	(233,403)	(213,640)
Stock held in trust	(2,963)	(4,292)
Deferred compensation liability	2,963	4,292
Total shareholders’ equity	523,849	673,001
Total liabilities and shareholders’ equity	$ 1,467,420	$ 1,636,917

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2016	Aug. 31, 2015
Treasury Stock, Shares	20,326,479	19,726,479
Common Class A
Common stock, par value	$ 0.2	$ 0.2
Common stock, shares authorized	168,000,000	168,000,000
Common stock, shares issued	79,347,614	78,932,533

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May 31, 2016	May 31, 2015
Operating Activities
Net earnings (loss)	$ (122,576)	$ (2,206)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization	36,219	40,235
Stock-based compensation expense	7,568	9,237
Benefit (provision) for deferred income taxes	(2,225)	3,666
Impairment charges, net of deferred tax benefits	169,056	82,635
Amortization of debt discount and debt issuance costs	1,239	1,329
Other non-cash adjustments	(460)	413
Sources (uses) of cash from changes in components of working capital and other:
Accounts receivable	7,755	(11,315)
Inventories	5,436	(5,076)
Other assets	(7,982)	(15,593)
Trade accounts payable	(3,498)	(8,278)
Income taxes payable/refundable	(26,108)	(47,983)
Accrued compensation and benefits	3,730	(9,220)
Other accrued liabilities	6,837	5,780
Cash provided by operating activities	74,991	43,624
Investing Activities
Capital expenditures	(15,623)	(17,234)
Proceeds from sale of property, plant and equipment	8,635	886
Business acquisitions, net of cash acquired	(80,674)	0
Cash used in investing activities	(87,662)	(16,348)
Financing Activities
Payments of Debt Issuance Costs	0	(1,875)
Purchase of treasury shares	(14,125)	(204,627)
Taxes paid related to the net share settlement of equity awards	(1,344)	(2,344)
Stock option exercises, related tax benefits and other	5,729	5,046
Cash dividend	(2,376)	(2,598)
Cash (used in) provided by financing activities	(12,326)	3,602
Effect of exchange rate changes on cash	(6,760)	(31,765)
Net decrease in cash and cash equivalents	(31,757)	(887)
Cash and cash equivalents – beginning of period	168,846	109,012
Cash and cash equivalents – end of period	137,089	108,125
Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	(210)	0
Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt	0	(3,375)
Proceeds from Long-term Lines of Credit	$ 0	$ 213,375

Basis of Presentation

Basis of Presentation	9 Months Ended
	May 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation General The accompanying unaudited condensed consolidated financial statements of Actuant Corporation (“Actuant,” or the “Company”) have been prepared in accordance with generally accepted accounting principles for interim financial reporting and with the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The condensed consolidated balance sheet data as of August 31, 2015 was derived from the Company’s audited financial statements, but does not include all disclosures required by United States generally accepted accounting principles. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes in the Company’s fiscal 2015 Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of financial results have been made. Such adjustments consist of only those of a normal recurring nature. Operating results for the three and nine months ended May 31, 2016 are not necessarily indicative of the results that may be expected for the entire fiscal year ending August 31, 2016 . New Accounting Pronouncements In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes , which amends the existing guidance to require presentation of deferred tax assets and liabilities as non-current within a classified statement of financial position. This guidance was adopted, on a prospective basis, at November 30, 2015. The adoption did not have a material impact on the financial statements of the Company. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which includes amendments that require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Under the new guidance, the recognition and measurement of debt issuance costs is not affected. This guidance is effective for fiscal years beginning on or after December 15, 2015. The adoption of this standard in fiscal 2017 is not expected to have a material impact on the financial statements of the Company. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business acquisition opening balance sheet. This guidance is effective for fiscal years beginning after December 15, 2015 (fiscal 2017 for the Company), including interim periods within fiscal years. The adoption of this standard is not expected to have a material impact on the financial statements of the Company. In March 2016, the FASB issued ASU 2016-09, "Stock Compensation: Improvements to Employee Share-Based Payment Accounting," which will simplify several aspects of accounting for share-based payment transactions. The guidance will require, among other items, that all excess tax deficiencies or benefits be recorded as income tax expense or benefit in the statement of earnings, and not in additional paid-in capital (shareholder's equity). This guidance is effective for fiscal years beginning after December 15, 2016 (fiscal 2018 for the Company), and interim periods within those annual periods. Early adoption is permitted and the prospective transition method should be applied. The Company is currently evaluating the impact of adopting this standard. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. Under ASU 2014-09, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. It also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This guidance is effective for fiscal years beginning on or after December 15, 2017 (fiscal 2019 for the Company). The Company is currently evaluating the impact of adopting this standard. In February 2016, the FASB issued ASU 2016-02, Leases to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset. This guidance is effective for fiscal years beginning after December 15, 2018 (fiscal 2020 of the Company), including interim periods within those fiscal years. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of adopting this standard. Significant Accounting Policies Financing Costs : Financing costs represent interest expense, financing fees and amortization of debt issuance costs net of interest income. Interest income was $0.4 million and $1.4 million for the three and nine months ended May 31, 2016 , respectively, compared to $0.5 million and $1.4 million in the comparable prior year periods. Restructuring : The Company has committed to various restructuring initiatives including workforce reductions, plant consolidations to reduce manufacturing overhead, satellite office closures, the continued movement of production and product sourcing to low cost alternatives and the centralization and standardization of certain administrative functions. Total restructuring charges for these activities were $3.5 million and $11.5 million , for the three and nine months ended May 31, 2016 , respectively. Liabilities for severance will be paid during the next twelve months, while facility consolidation costs (primarily reserves for future lease payments related to vacated facilities) will be paid over the underlying remaining lease terms. The following rollforward summarizes current year restructuring activities, by segment, for the nine months ended May 31, 2016 (in thousands): Industrial Energy Engineered Solutions Corporate Total Balance as of August 31, 2015 $ — $ — $ — $ — $ — Restructuring charges 1,792 4,877 4,528 261 11,458 Cash payments (1,000 ) (1,122 ) (2,182 ) (200 ) (4,504 ) Other non-cash uses of reserve — (170 ) (304 ) (1 ) (475 ) Impact of changes in foreign currency rates 17 (14 ) 18 — 21 Balance as of May 31, 2016 $ 809 $ 3,571 $ 2,060 $ 60 $ 6,500 Goodwill and Long-Lived Assets : The Company's goodwill is tested for impairment annually, in the fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill might be impaired. The Company generally utilizes a discounted cash flow model to estimate the fair value of reporting units, which is dependent on a number of assumptions including estimated future revenues and expenses, weighted average cost of capital, capital expenditures and other variables. The fair value of the reporting unit is then compared to its carrying amount, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the goodwill is potentially impaired and the Company then determines the implied fair value of goodwill, which is compared to the carrying value to determine if an impairment charge is required. Indefinite lived intangible assets (tradenames) are also subject to an impairment review. On an annual basis, or more frequently if events or changes in circumstances indicate that indefinite lived intangible assets might not be recoverable, the fair value of the indefinite lived intangible assets, using a relief of royalty valuation approach, are compared to the carrying value to determine if an impairment charge is required. Intangible assets with definite lives consist primarily of customer relationships, patents, trademarks and non-compete agreements while fixed assets include building improvements, rental assets (Energy segment) and machinery & equipment. The Company reviews these long-lived assets for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. If such indicators are present, the Company prepares an undiscounted operating cash flow analyses to determine if an impairment exists. If an impairment is determined to exist, any related impairment loss is recorded based on fair value. A considerable amount of management judgment and assumptions are required in performing the impairment tests, principally in determining the fair value of each reporting unit, intangible asset or fixed asset. While management believes the judgments and assumptions utilized in the fair value models are reasonable, different assumptions or adverse market developments could change the estimated fair values and ultimately result in future impairment charges. As discussed in Note 3, "Goodwill and Other Intangible Assets," the Company recognized a $186.5 million and $84.4 million impairment charge in the second quarter of fiscal 2016 and 2015, respectively.
New Accounting Pronouncements, Policy	New Accounting Pronouncements In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes , which amends the existing guidance to require presentation of deferred tax assets and liabilities as non-current within a classified statement of financial position. This guidance was adopted, on a prospective basis, at November 30, 2015. The adoption did not have a material impact on the financial statements of the Company. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which includes amendments that require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Under the new guidance, the recognition and measurement of debt issuance costs is not affected. This guidance is effective for fiscal years beginning on or after December 15, 2015. The adoption of this standard in fiscal 2017 is not expected to have a material impact on the financial statements of the Company. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business acquisition opening balance sheet. This guidance is effective for fiscal years beginning after December 15, 2015 (fiscal 2017 for the Company), including interim periods within fiscal years. The adoption of this standard is not expected to have a material impact on the financial statements of the Company. In March 2016, the FASB issued ASU 2016-09, "Stock Compensation: Improvements to Employee Share-Based Payment Accounting," which will simplify several aspects of accounting for share-based payment transactions. The guidance will require, among other items, that all excess tax deficiencies or benefits be recorded as income tax expense or benefit in the statement of earnings, and not in additional paid-in capital (shareholder's equity). This guidance is effective for fiscal years beginning after December 15, 2016 (fiscal 2018 for the Company), and interim periods within those annual periods. Early adoption is permitted and the prospective transition method should be applied. The Company is currently evaluating the impact of adopting this standard. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. Under ASU 2014-09, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. It also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This guidance is effective for fiscal years beginning on or after December 15, 2017 (fiscal 2019 for the Company). The Company is currently evaluating the impact of adopting this standard. In February 2016, the FASB issued ASU 2016-02, Leases to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset. This guidance is effective for fiscal years beginning after December 15, 2018 (fiscal 2020 of the Company), including interim periods within those fiscal years. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of adopting this standard.
Financing Costs [Policy Text Block]	Financing Costs : Financing costs represent interest expense, financing fees and amortization of debt issuance costs net of interest income. Interest income was $0.4 million and $1.4 million for the three and nine months ended May 31, 2016 , respectively, compared to $0.5 million and $1.4 million in the comparable prior year periods.
Costs Associated with Exit or Disposal Actitivies or Restructurings, Policy	Restructuring : The Company has committed to various restructuring initiatives including workforce reductions, plant consolidations to reduce manufacturing overhead, satellite office closures, the continued movement of production and product sourcing to low cost alternatives and the centralization and standardization of certain administrative functions. Total restructuring charges for these activities were $3.5 million and $11.5 million , for the three and nine months ended May 31, 2016 , respectively. Liabilities for severance will be paid during the next twelve months, while facility consolidation costs (primarily reserves for future lease payments related to vacated facilities) will be paid over the underlying remaining lease terms. The following rollforward summarizes current year restructuring activities, by segment, for the nine months ended May 31, 2016 (in thousands): Industrial Energy Engineered Solutions Corporate Total Balance as of August 31, 2015 $ — $ — $ — $ — $ — Restructuring charges 1,792 4,877 4,528 261 11,458 Cash payments (1,000 ) (1,122 ) (2,182 ) (200 ) (4,504 ) Other non-cash uses of reserve — (170 ) (304 ) (1 ) (475 ) Impact of changes in foreign currency rates 17 (14 ) 18 — 21 Balance as of May 31, 2016 $ 809 $ 3,571 $ 2,060 $ 60 $ 6,500
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Long-Lived Assets : The Company's goodwill is tested for impairment annually, in the fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill might be impaired. The Company generally utilizes a discounted cash flow model to estimate the fair value of reporting units, which is dependent on a number of assumptions including estimated future revenues and expenses, weighted average cost of capital, capital expenditures and other variables. The fair value of the reporting unit is then compared to its carrying amount, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the goodwill is potentially impaired and the Company then determines the implied fair value of goodwill, which is compared to the carrying value to determine if an impairment charge is required. Indefinite lived intangible assets (tradenames) are also subject to an impairment review. On an annual basis, or more frequently if events or changes in circumstances indicate that indefinite lived intangible assets might not be recoverable, the fair value of the indefinite lived intangible assets, using a relief of royalty valuation approach, are compared to the carrying value to determine if an impairment charge is required. Intangible assets with definite lives consist primarily of customer relationships, patents, trademarks and non-compete agreements while fixed assets include building improvements, rental assets (Energy segment) and machinery & equipment. The Company reviews these long-lived assets for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. If such indicators are present, the Company prepares an undiscounted operating cash flow analyses to determine if an impairment exists. If an impairment is determined to exist, any related impairment loss is recorded based on fair value. A considerable amount of management judgment and assumptions are required in performing the impairment tests, principally in determining the fair value of each reporting unit, intangible asset or fixed asset. While management believes the judgments and assumptions utilized in the fair value models are reasonable, different assumptions or adverse market developments could change the estimated fair values and ultimately result in future impairment charges. As discussed in Note 3, "Goodwill and Other Intangible Assets," the Company recognized a $186.5 million and $84.4 million impairment charge in the second quarter of fiscal 2016 and 2015, respectively.

Acquisitions

Acquisitions	9 Months Ended
	May 31, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions During fiscal 2016 the Company completed two acquisitions which resulted in the recognition of goodwill in the condensed consolidated financial statements because their purchase price reflected the future earnings and cash flow potential of the acquired companies, as well as the complementary strategic fit and resulting synergies the acquisitions are expected to bring to existing operations. The Company makes an initial allocation of the purchase price at the date of acquisition, based upon its understanding of the fair value of the acquired assets and assumed liabilities. If additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), through asset appraisals and other sources, the Company will refine its estimates of fair value and adjust the initial purchase price allocation. The Company acquired the stock of Larzep, S.A. ("Larzep") on February 17, 2016 for a purchase price of $15.9 million net of cash acquired. This Industrial segment tuck-in acquisition is headquartered in Mallabia, Spain and is a supplier of hydraulic tools and solutions. The preliminary purchase price allocation resulted in $9.7 million of goodwill (which is not deductible for tax purposes) and $4.8 million of intangible assets, including $3.6 million of customer relationships and $1.2 million of tradenames. During the third quarter of fiscal 2016, goodwill related to this acquisition increased by $2.5 million , the result of purchase accounting adjustments to reflect the fair value of acquired assets and liabilities. The Company acquired the assets of the Middle East, Caspian and the North African business of FourQuest Energy Inc. for $64.3 million on March 30, 2016 . This Hydratight tuck-in acquisition was funded with existing cash and expands the geographic presence and service offerings of the Energy segment, including pipeline pre-commissioning, engineering, chemical cleaning and leak testing. The preliminary purchase price resulted in $35.4 million of goodwill (which is not deductible for tax purposes) and $8.7 million of intangible assets, including $8.0 million of customer relationships and $0.7 million of non-compete agreements. The two acquisitions generated combined sales of $7.3 million for the three months ended May 31, 2016 . The Company incurred acquisition transaction costs of $1.3 million and $2.7 million , for three and nine months ended May 31, 2016 , respectively, related to various business acquisition activities (compared to less than $0.1 million for the comparable prior year periods). The following unaudited pro forma operating results of the Company for the three and nine months ended May 31, 2016 and 2015, give effect to these acquisitions as though the transactions and related financing activities occurred on September 1, 2014 (in thousands, expect per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Net sales As reported $ 305,341 $ 320,100 $ 873,641 $ 948,870 Pro forma 308,526 325,409 899,535 966,006 Net earnings (loss) As reported $ 21,166 $ 37,958 $ (122,576 ) $ (2,206 ) Pro forma 21,783 38,036 (118,520 ) (2,114 ) Basic earnings (loss) per share As reported $ 0.36 $ 0.64 $ (2.08 ) $ (0.04 ) Pro forma 0.37 0.64 (2.01 ) (0.04 ) Diluted earnings (loss) per share As reported $ 0.36 $ 0.63 $ (2.08 ) $ (0.04 ) Pro forma 0.37 0.63 (2.01 ) (0.04 )
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro forma operating results of the Company for the three and nine months ended May 31, 2016 and 2015, give effect to these acquisitions as though the transactions and related financing activities occurred on September 1, 2014 (in thousands, expect per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Net sales As reported $ 305,341 $ 320,100 $ 873,641 $ 948,870 Pro forma 308,526 325,409 899,535 966,006 Net earnings (loss) As reported $ 21,166 $ 37,958 $ (122,576 ) $ (2,206 ) Pro forma 21,783 38,036 (118,520 ) (2,114 ) Basic earnings (loss) per share As reported $ 0.36 $ 0.64 $ (2.08 ) $ (0.04 ) Pro forma 0.37 0.64 (2.01 ) (0.04 ) Diluted earnings (loss) per share As reported $ 0.36 $ 0.63 $ (2.08 ) $ (0.04 ) Pro forma 0.37 0.63 (2.01 ) (0.04 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	May 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Fiscal 2015 Interim Impairment Charges The Cortland and Viking businesses (Energy segment) provide products and services to the global energy markets where safety, reliability, up-time and productivity are key value drivers. The dramatic decline in oil prices in 2015 caused a slowdown in upstream oil & gas activity as asset owners hesitated on starting new oil & gas exploration drilling and development projects, while certain existing projects were deferred or canceled and capital spending was reduced. As a result of these unfavorable market conditions, in the second quarter of fiscal 2015 the Company recognized an $84.4 million impairment charge related to the write-down of goodwill and indefinite lived intangible assets of the Cortland and Viking businesses. The impairment charge, as a result of lower projected near-term sales and profits, consisted of a $78.0 million impairment of goodwill and $6.4 million impairment of indefinite lived intangible assets (tradenames). Fiscal 2016 Interim Impairment Charges The prolonged unfavorable conditions in the global oil & gas markets, including additional cuts in projected capital spending by energy customers, reduced exploration, drilling and commissioning activities and excess capacity in the industry (given continued low oil & gas prices) are expected to have an adverse impact on the future financial results of the Cortland and Viking businesses. Accordingly, during the second quarter of fiscal 2016, the Company recognized a $140.8 million impairment charge (as a result of lower projected future sales and profits) related to the Cortland and Viking businesses. The maximatecc business (Engineered Solutions segment), including the legacy North American business and the CrossControl (Europe) and Turotest (South America) acquisitions, manufactures severe-duty electronic instrumentation including displays and clusters, machine controls and sensors. Weakness in off-highway vehicle and agricultural markets, coupled with challenging overall industrial fundamentals, recent reductions in OEM customer build rates and production schedules (in order to reduce inventory levels) and delays in the start of production by certain European OEMs for new or updated design models have resulted in reduced sales and profitability of the maximatecc business. As a result of lower projected sales and profits, during the second quarter of fiscal 2016, the Company recognized a $45.7 million impairment charge related to the goodwill and intangible assets of the maximatecc business. A summary of the second quarter fiscal 2016 impairment charge by reporting unit is as follows (in thousands): Cortland Viking maximatecc Total Goodwill $ 34,502 $ 39,099 $ 44,521 $ 118,122 Indefinite lived intangible assets 2,211 13,289 1,153 16,653 Amortizable intangible assets — 27,952 — 27,952 Fixed assets — 23,784 23,784 $ 36,713 $ 104,124 $ 45,674 $ 186,511 The changes in the carrying value of goodwill for the nine months ended May 31, 2016 are as follows (in thousands): Industrial Energy Engineered Solutions Total Balance as of August 31, 2015 $ 92,107 $ 236,450 $ 279,699 $ 608,256 Business acquisitions 9,718 35,403 — 45,121 Impairment charge — (73,919 ) (44,543 ) (118,462 ) Impact of changes in foreign currency rates (97 ) (4,493 ) (904 ) (5,494 ) Balance as of May 31, 2016 $ 101,728 $ 193,441 $ 234,252 $ 529,421 The gross carrying value and accumulated amortization of the Company’s other intangible assets are as follows (in thousands): May 31, 2016 August 31, 2015 Weighted Average Amortization Period (Years) Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Amortizable intangible assets: Customer relationships 14 $ 307,400 $ 170,027 $ 137,373 $ 302,518 $ 132,007 $ 170,511 Patents 10 30,700 21,830 8,870 30,899 19,928 10,971 Trademarks and tradenames 18 21,233 7,658 13,575 21,604 7,055 14,549 Other intangibles 3 6,755 5,880 875 6,790 6,496 294 Indefinite lived intangible assets: Tradenames N/A 95,228 — 95,228 112,437 — 112,437 $ 461,316 $ 205,395 $ 255,921 $ 474,248 $ 165,486 $ 308,762 The Company estimates that amortization expense will be $5.6 million for the remaining three months of fiscal 2016 . Amortization expense for future years is estimated to be: $21.3 million in fiscal 2017 , $21.0 million in 2018 , $20.7 million in fiscal 2019 , $19.9 million in fiscal 2020 , $18.8 million in fiscal 2021 and $53.4 million thereafter. The future amortization expense amounts represent estimates and may be impacted by potential future acquisitions, divestitures, impairment charges, changes in foreign currency exchange rates and other factors.

Product Warranty Costs

Product Warranty Costs	9 Months Ended
	May 31, 2016
Guarantees [Abstract]
Product Warranty Costs	Product Warranty Costs The Company generally offers its customers a warranty on products they purchase, although warranty periods vary by product type and application. The reserve for future warranty claims is based on historical claim rates and current warranty cost experience. The following is a rollforward of the product warranty reserve (in thousands): Nine Months Ended May 31, 2016 2015 Beginning balance $ 3,718 $ 4,056 Provision for warranties 3,225 4,198 Warranty reserve for acquired businesses 3 — Warranty payments and costs incurred (3,155 ) (3,505 ) Impact of changes in foreign currency rates (35 ) (589 ) Ending balance $ 3,756 $ 4,160

Debt

Debt	9 Months Ended
	May 31, 2016
Debt Disclosure [Abstract]
Debt	Debt The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2016 August 31, 2015 Senior Credit Facility Revolver $ — $ — Term Loan 300,000 300,000 Total Senior Credit Facility 300,000 300,000 5.625% Senior Notes 288,059 288,059 Total Senior Indebtedness 588,059 588,059 Less: current maturities of long-term debt (15,000 ) (3,750 ) Total long-term debt, less current maturities $ 573,059 $ 584,309 The Company’s Senior Credit Facility, which matures on May 8, 2020 , includes a $600.0 million revolver, a $300.0 million term loan and a $450.0 million expansion option, subject to certain conditions. Borrowings are subject to a pricing grid, which can result in increases or decreases to the borrowing spread, depending on the Company’s leverage ratio, ranging from 1.00% to 2.25% in the case of loans bearing interest at LIBOR and from 0.00% to 1.25% in the case of loans bearing interest at the base rate. As of May 31, 2016 , the borrowing spread on LIBOR based borrowings was 2.00% (aggregating to a 2.44% variable rate borrowing cost). In addition, a non-use fee is payable quarterly on the average unused credit line under the revolver ranging from 0.15% to 0.35% per annum. As of May 31, 2016 , the unused credit line under the revolver was $592.1 million , of which $183.0 million was available for borrowing. Quarterly term loan principal payments of $3.8 million begin on June 30, 2016 , and increase to $7.5 million on June 30, 2017 , with the remaining principal due at maturity. The Senior Credit Facility, which is secured by substantially all of the Company’s domestic personal property assets, also contains customary limits and restrictions concerning investments, sales of assets, liens on assets, dividends and other payments. The two financial covenants included in the Senior Credit Facility agreement are a maximum leverage ratio of 3.75 :1 and a minimum interest coverage ratio of 3.5 :1. The Company was in compliance with all financial covenants at May 31, 2016 . On April 16, 2012 , the Company issued $300.0 million of 5.625% Senior Notes due 2022 (the “Senior Notes”), of which $288.1 million remains outstanding at May 31, 2016 and August 31, 2015 . The Senior Notes require no principal installments prior to their June 15, 2022 maturity, require semiannual interest payments in December and June of each year and contain certain financial and non-financial covenants. The Senior Notes include a call feature that allows the Company to repurchase them anytime on or after June 15, 2017 at stated redemption prices (ranging from 100.0% to 102.8% ), plus accrued and unpaid interest.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	May 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The Company assesses the inputs used to measure the fair value of financial assets and liabilities using a three-tier hierarchy. Level 1 inputs include quoted prices for identical instruments and are the most observable. Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, foreign currency exchange rates, commodity rates and yield curves. Level 3 inputs are not observable in the market and include management’s own judgments about the assumptions market participation would use in pricing an asset or liability. The fair value of the Company’s cash and cash equivalents, foreign currency derivatives, accounts receivable, accounts payable and variable rate long-term debt approximated book value at both May 31, 2016 and August 31, 2015 due to their short-term nature and the fact that the interest rates approximated market rates. The fair value of the Company’s outstanding Senior Notes was $296.0 million and $287.3 million at May 31, 2016 and August 31, 2015 , respectively. The fair value of the Senior Notes was based on quoted inactive market prices and is therefore classified as Level 2 within the valuation hierarchy.

Derivatives

Derivatives	9 Months Ended
	May 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations. In order to manage this risk the Company hedges certain portions of its recognized balances and forecasted cash flows that are denominated in non-functional currencies. All derivatives are recognized in the balance sheet at their estimated fair value. On the date it enters into a derivative contract, the Company designates the derivative as a hedge of a recognized asset or liability ("fair value hedge") or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ("cash flow hedge"). The Company does not enter into derivatives for speculative purposes. Changes in the value of fair value hedges and non-designated hedges are recorded in earnings along with the gain or loss on the hedged asset or liability, while changes in the value of cash flow hedges are recorded in accumulated other comprehensive loss, until earnings are affected by the variability of cash flows. The U.S. dollar equivalent notional value of short duration foreign currency forward contracts (fair value hedges or non-designated hedges) was $80.5 million and $170.7 million , at May 31, 2016 and August 31, 2015 , respectively. Net foreign currency gains (losses) related to these derivative instruments are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Foreign currency gain (loss) $ (394 ) $ 2,310 $ (1,028 ) $ 304 These derivative gains and losses offset foreign currency gains and losses from the related revaluation of non-functional currency assets and liabilities (amounts included in other income and expense in the condensed consolidated statement of earnings).

Capital Stock and Share Repurch

Capital Stock and Share Repurchase	9 Months Ended
	May 31, 2016
Earnings Per Share [Abstract]
Capital Stock and Share Repurchase	The Company's Board of Directors approved four separate authorizations (September 2011, March 2014, October 2014 and March 2015) to repurchase up to 7,000,000 shares per authorization of the Company's outstanding common stock. At May 31, 2016 , shares repurchased under these authorizations totaled 20,326,479 , leaving 7,673,521 shares available for repurchase under the existing share repurchase program. The reconciliation between basic and diluted earnings (loss) per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Numerator: Net earnings (loss) $ 21,166 $ 37,958 $ (122,576 ) $ (2,206 ) Denominator: Weighted average common shares outstanding - basic 58,923 59,617 59,034 61,911 Net effect of dilutive securities - stock based compensation plans (1) 666 626 — — Weighted average common shares outstanding - diluted 59,589 60,243 $ 59,034 $ 61,911 Basic earnings (loss) per share $ 0.36 $ 0.64 $ (2.08 ) $ (0.04 ) Diluted earnings (loss) per share 0.36 0.63 (2.08 ) (0.04 ) Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 1,930 2,256 4,973 4,662 (1) As a result of the impairment charges which caused a net loss in both the nine months ended May 31, 2016 and 2015 , shares from stock based compensation plans are excluded from the calculation of diluted earnings (loss) per share, as the result would be anti-dilutive.

Income Taxes

Income Taxes	9 Months Ended
	May 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's income tax expense is impacted by a number of factors, including the amount of taxable earnings derived in foreign jurisdictions with tax rates that are higher or lower than the U.S. federal statutory rate, permanent items, state tax rates and the ability to utilize various tax credits and net operating loss carryforwards. The Company's global operations, acquisition activity and specific tax attributes provide opportunities for continuous global tax planning initiatives to maximize tax credits and deductions. Both the current and prior periods include the benefits of tax planning initiatives. Comparative pre-tax earnings (loss), income tax expense (benefit) and effective income tax rates are as follows (amounts in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Earnings (loss) before income taxes $ 20,339 $ 34,971 $ (141,242 ) $ 4,579 Income tax (benefit) expense (827 ) (2,987 ) (18,666 ) 6,785 Effective income tax rate (4.1 )% (8.5 )% 13.2 % 148.2 % The third quarter effective income tax rates are impacted by the proportion of taxable earnings generated in foreign jurisdictions with tax rates lower than the U.S., the amount of tax benefits derived from annual tax planning initiatives and discrete income tax adjustments. The income tax benefit for the three months ended May 31, 2016 is the result of current year tax planning (related to the deductibility of foreign currency losses for tax purposes) and a $2.3 million benefit from a discrete income tax adjustment (favorable provision to income tax return adjustments), which were partially offset by the provision for taxes due on current quarter earnings. The income tax benefit for the three months ended May 31, 2015 is the net result of a $19.2 million reduction in tax reserves from the lapsing of income tax statutes of limitations and the favorable resolution of income tax audits, which were partially offset by the current quarter income tax provision, a $5.0 million increase to the reserve for uncertain tax positions and a $5.2 million increase in valuation allowances due to uncertainty regarding utilization of foreign net operating losses. The comparability of year-to-date pre-tax income (loss), income tax expense (benefit) and the related effective income tax rate are impacted by impairment charges, as fiscal 2016 results include a $186.5 million ( $169.1 million after tax) impairment charge, while the prior year included an $84.4 million ( $82.6 million after tax) impairment charge. Excluding the impairment charge, the fiscal 2016 year-to-date effective tax rate is lower than the prior year due to a favorable mix of taxable earnings, the benefits of tax planning initiatives and discrete tax adjustments. Both the current and prior year income tax provisions include a similar income tax benefit from global tax planning initiatives; however the impact on the effective tax rate was substantially larger in the current year, as pre-tax earnings (excluding the impairment charge) were down $43.7 million year-over-year. In addition, the tax provision for the nine months ended May 31, 2016 included 90% of earnings from foreign jurisdictions with tax rates lower than the U.S. federal income tax rate, compared to approximately 70% in the prior year, which had the impact of reducing the current year effective income tax rate.

Segment Information

Segment Information	9 Months Ended
	May 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is a global manufacturer of a broad range of industrial products and systems and is organized in three reportable segments: Industrial, Energy and Engineered Solutions. The Industrial segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets. The Energy segment provides joint integrity products and maintenance services, customized offshore vessel mooring solutions, as well as rope and cable solutions to the global oil & gas, power generation and energy markets. The Engineered Solutions segment provides highly engineered position and motion control systems to original equipment manufacturers ("OEM") in various on and off-highway vehicle markets, as well as a variety of other products to the industrial and agricultural markets. The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Net Sales by Reportable Product Line & Segment: Industrial Segment: Industrial Tools $ 81,771 $ 88,348 $ 233,599 $ 267,064 Integrated Solutions 13,980 15,198 32,210 35,384 95,751 103,546 265,809 302,448 Energy Segment: Energy Maintenance & Integrity 73,377 62,644 210,762 182,985 Other Energy Solutions 27,923 36,653 90,526 128,044 101,300 99,297 301,288 311,029 Engineered Solutions Segment: On-Highway 58,439 59,673 161,949 170,122 Agriculture, Off-Highway and Other 49,851 57,584 144,595 165,271 108,290 117,257 306,544 335,393 $ 305,341 $ 320,100 $ 873,641 $ 948,870 Operating Profit (Loss): Industrial $ 21,712 $ 29,165 $ 58,994 $ 79,386 Energy (1) 10,870 12,774 (115,803 ) (50,457 ) Engineered Solutions (2) 3,651 8,313 (37,943 ) 16,601 General Corporate (7,890 ) (7,250 ) (23,649 ) (20,757 ) $ 28,343 $ 43,002 $ (118,401 ) $ 24,773 (1) Energy segment operating profit (loss) includes impairment charges of $140.8 million and $84.4 million for the nine months ended May 31, 2016 and 2015 , respectively. (2) Engineered Solutions segment operating profit (loss) includes an impairment charge of $45.7 million for the nine months ended May 31, 2016 . May 31, 2016 August 31, 2015 Assets by Segment: Industrial $ 299,971 $ 293,738 Energy 508,660 601,521 Engineered Solutions 529,275 588,200 General Corporate 129,514 153,458 $ 1,467,420 $ 1,636,917 In addition to the impact of foreign currency exchange rate changes, the comparability of segment and product line information is also impacted by acquisitions and impairment charges (Energy and Engineered Solutions segments). Corporate assets, which are not allocated, principally represent cash and cash equivalents, capitalized debt issuance costs and deferred income taxes.

Contingencies and Litigation

Contingencies and Litigation	9 Months Ended
	May 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Contingencies and Litigation The Company had outstanding letters of credit of $19.1 million and $18.1 million at May 31, 2016 and August 31, 2015 , respectively, the majority of which relate to commercial contracts and self-insured workers compensation programs. The Company is a party to various legal proceedings that have arisen in the normal course of business. Such proceedings typically include product liability, environmental, labor, patent claims and other disputes. The Company has recorded reserves for loss contingencies based on the specific circumstances of each case. Such reserves are recorded when it is probable that a loss has been incurred as of the balance sheet date and can be reasonably estimated. In the opinion of management, the resolution of these contingencies, individually and in the aggregate, are not expected to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company has facilities in numerous geographic locations that are subject to a range of environmental laws and regulations. Environmental expenditures over the past two years have not been material. Management believes that such costs will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. The Company remains contingently liable for lease payments of businesses that it previously divested or spun-off, in the event that such businesses are unable to fulfill their lease payment obligations. The discounted present value of future minimum lease payments for these leases was $16.3 million at May 31, 2016 .

Guarantor Subsidiaries

Guarantor Subsidiaries	9 Months Ended
	May 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Subsidiaries	Guarantor Subsidiaries As discussed in Note 5, “Debt” on April 16, 2012 , Actuant Corporation (the “Parent”) issued $300.0 million of 5.625% Senior Notes, of which $288.1 million remains outstanding as of May 31, 2016 . All of our material domestic wholly owned subsidiaries (the “Guarantors”) fully and unconditionally guarantee the 5.625% Senior Notes on a joint and several basis. There are no significant restrictions on the ability of the Guarantors to make distributions to the Parent. The following tables present the results of operations, financial position and cash flows of Actuant Corporation and its subsidiaries, the Guarantor and non-Guarantor entities, and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Certain assets, liabilities and expenses have not been allocated to the Guarantors and non-Guarantors and therefore are included in the Parent column in the accompanying condensed consolidating financial statements. These items are of a corporate or consolidated nature and include, but are not limited to, tax provisions and related assets and liabilities, certain employee benefit obligations, prepaid and accrued insurance and corporate indebtedness. Intercompany activity primarily includes loan activity, purchases and sales of goods or services, investments and dividends. Intercompany balances also reflect certain non-cash transactions including transfers of assets and liabilities between the Parent, Guarantor and non-Guarantor, allocation of non-cash expenses from the Parent to the Guarantors and non-Guarantors, non-cash intercompany dividends and the impact of foreign currency rate changes. CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 33,610 $ 62,534 $ 209,197 $ — $ 305,341 Cost of products sold 6,603 43,381 147,831 — 197,815 Gross profit 27,007 19,153 61,366 — 107,526 Selling, administrative and engineering expenses 17,172 13,606 39,342 — 70,120 Amortization of intangible assets 318 2,630 2,619 — 5,567 Restructuring charges 100 197 3,199 — 3,496 Operating profit 9,417 2,720 16,206 — 28,343 Financing costs, net 7,601 — (348 ) — 7,253 Intercompany (income) expense, net (4,990 ) 1,254 3,736 — — Other expense, net 199 13 539 — 751 Earnings before income taxes 6,607 1,453 12,279 — 20,339 Income tax expense (benefit) (929 ) 115 (13 ) — (827 ) Net earnings before equity in earnings of subsidiaries 7,536 1,338 12,292 — 21,166 Equity in earnings of subsidiaries 13,630 10,382 239 (24,251 ) — Net earnings $ 21,166 $ 11,720 $ 12,531 $ (24,251 ) $ 21,166 Comprehensive income $ 36,488 $ 25,205 $ 14,148 $ (39,353 ) $ 36,488 CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 40,011 $ 58,896 $ 221,193 $ — $ 320,100 Cost of products sold 11,749 40,360 149,431 — 201,540 Gross profit 28,262 18,536 71,762 — 118,560 Selling, administrative and engineering expenses 16,560 11,228 41,781 — 69,569 Amortization of intangible assets 318 2,394 3,277 — 5,989 Operating profit 11,384 4,914 26,704 — 43,002 Financing costs, net 7,769 — (307 ) — 7,462 Intercompany (income) expense, net (3,559 ) (1,187 ) 4,746 — — Other expense, net 123 27 419 — 569 Earnings before income taxes 7,051 6,074 21,846 — 34,971 Income tax expense (benefit) (11,957 ) 914 8,056 — (2,987 ) Net earnings before equity in earnings (loss) of subsidiaries 19,008 5,160 13,790 — 37,958 Equity in earnings (loss) of subsidiaries 18,950 12,757 (340 ) (31,367 ) — Net earnings $ 37,958 $ 17,917 $ 13,450 $ (31,367 ) $ 37,958 Comprehensive income $ 27,259 $ 13,244 $ 7,930 $ (21,174 ) $ 27,259 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands) Nine Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 100,699 $ 188,333 $ 584,609 $ — $ 873,641 Cost of products sold 25,851 132,711 407,962 — 566,524 Gross profit 74,848 55,622 176,647 — 307,117 Selling, administrative and engineering expenses 54,049 41,113 115,040 — 210,202 Amortization of intangible assets 954 7,890 8,503 — 17,347 Restructuring charges 1,057 2,692 7,709 — 11,458 Impairment charges — 49,012 137,499 — 186,511 Operating profit (loss) 18,788 (45,085 ) (92,104 ) — (118,401 ) Financing costs, net 22,364 — (1,128 ) — 21,236 Intercompany (income) expense, net (16,284 ) (1,478 ) 17,762 — — Other expense, net 802 44 759 — 1,605 Earnings (loss) before income taxes 11,906 (43,651 ) (109,497 ) — (141,242 ) Income tax expense (benefit) (1,986 ) 420 (17,100 ) — (18,666 ) Net earnings (loss) before equity in loss of subsidiaries 13,892 (44,071 ) (92,397 ) — (122,576 ) Equity in earnings (loss) of subsidiaries (136,468 ) (79,373 ) 236 215,605 — Net loss $ (122,576 ) $ (123,444 ) $ (92,161 ) $ 215,605 $ (122,576 ) Comprehensive loss $ (142,339 ) $ (138,806 ) $ (97,165 ) $ 235,971 $ (142,339 ) CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands) Nine Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 119,612 $ 207,162 $ 622,096 $ — $ 948,870 Cost of products sold 33,792 145,800 413,981 — 593,573 Gross profit 85,820 61,362 208,115 — 355,297 Selling, administrative and engineering expenses 52,062 45,062 130,685 — 227,809 Amortization of intangible assets 954 7,964 9,444 — 18,362 Impairment charges — 20,249 64,104 — 84,353 Operating profit (loss) 32,804 (11,913 ) 3,882 — 24,773 Financing costs, net 21,583 — (900 ) — 20,683 Intercompany expense (income), net (14,389 ) 896 13,493 — — Intercompany dividend income (212 ) (243 ) (31 ) 486 — Other expense (income), net 342 (133 ) (698 ) — (489 ) Earnings (loss) before income taxes 25,480 (12,433 ) (7,982 ) (486 ) 4,579 Income tax expense (benefit) (8,133 ) 1,413 13,589 (84 ) 6,785 Net earnings (loss) before equity in earnings (loss) of subsidiaries 33,613 (13,846 ) (21,571 ) (402 ) (2,206 ) Equity in earnings (loss) of subsidiaries (35,819 ) (1,673 ) 177 37,315 — Net loss $ (2,206 ) $ (15,519 ) $ (21,394 ) $ 36,913 $ (2,206 ) Comprehensive loss $ (132,616 ) $ (58,603 ) $ (80,728 ) $ 139,331 $ (132,616 ) CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 8,199 $ — $ 128,890 $ — $ 137,089 Accounts receivable, net 13,367 33,889 152,846 — 200,102 Inventories, net 22,416 29,748 86,292 — 138,456 Other current assets 13,268 3,187 43,631 — 60,086 Total current assets 57,250 66,824 411,659 — 535,733 Property, plant and equipment, net 5,641 19,080 93,507 — 118,228 Goodwill 38,847 143,690 346,884 — 529,421 Other intangibles, net 9,747 98,411 147,763 — 255,921 Investment in subsidiaries 1,915,828 899,892 87,193 (2,902,913 ) — Intercompany receivable — 617,942 556,837 (1,174,779 ) — Other long-term assets 9,877 7 18,233 — 28,117 Total assets $ 2,037,190 $ 1,845,846 $ 1,662,076 $ (4,077,692 ) $ 1,467,420 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 14,085 $ 16,096 $ 89,919 $ — $ 120,100 Accrued compensation and benefits 15,801 4,671 26,960 — 47,432 Current maturities of debt and short-term borrowings 15,000 — — — 15,000 Income taxes payable — — 1,249 — 1,249 Other current liabilities 23,187 4,937 30,756 — 58,880 Total current liabilities 68,073 25,704 148,884 — 242,661 Long-term debt, less current maturities 573,059 — — — 573,059 Deferred income taxes 34,641 — 20,891 — 55,532 Pension and postretirement benefit liabilities 10,228 — 5,461 — 15,689 Other long-term liabilities 47,083 593 8,954 — 56,630 Intercompany payable 780,257 — 394,522 (1,174,779 ) — Shareholders’ equity 523,849 1,819,549 1,083,364 (2,902,913 ) 523,849 Total liabilities and shareholders’ equity $ 2,037,190 $ 1,845,846 $ 1,662,076 $ (4,077,692 ) $ 1,467,420 CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) August 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 18,688 $ 523 $ 149,635 $ — $ 168,846 Accounts receivable, net 16,135 33,748 143,198 — 193,081 Inventories, net 23,074 33,480 86,198 — 142,752 Deferred income taxes 9,256 — 3,666 — 12,922 Other current assets 18,020 2,967 21,801 — 42,788 Total current assets 85,173 70,718 404,498 — 560,389 Property, plant and equipment, net 6,363 23,691 112,404 — 142,458 Goodwill 38,847 189,337 380,072 — 608,256 Other intangibles, net 10,702 109,665 188,395 — 308,762 Investment in subsidiaries 2,067,438 1,017,418 27,552 (3,112,408 ) — Intercompany receivable — 619,198 565,968 (1,185,166 ) — Other long-term assets 10,694 — 6,358 — 17,052 Total assets $ 2,219,217 $ 2,030,027 $ 1,685,247 $ (4,297,574 ) $ 1,636,917 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 14,700 $ 19,213 $ 84,202 $ — $ 118,115 Accrued compensation and benefits 16,479 2,952 24,276 — 43,707 Current maturities of debt and short-term borrowings 3,750 — 219 — 3,969 Income taxes payable 10,947 — 3,858 — 14,805 Other current liabilities 19,817 4,783 29,860 — 54,460 Total current liabilities 65,693 26,948 142,415 — 235,056 Long-term debt, less current maturities 584,309 — — — 584,309 Deferred income taxes 43,210 — 29,731 — 72,941 Pension and postretirement benefit liabilities 11,712 — 6,116 — 17,828 Other long-term liabilities 46,407 400 6,975 — 53,782 Intercompany payable 794,885 — 390,281 (1,185,166 ) — Shareholders’ equity 673,001 2,002,679 1,109,729 (3,112,408 ) 673,001 Total liabilities and shareholders’ equity $ 2,219,217 $ 2,030,027 $ 1,685,247 $ (4,297,574 ) $ 1,636,917 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Cash provided by operating activities $ 15,329 $ 5,017 $ 54,645 $ — $ 74,991 Investing Activities Proceeds from sale of property, plant and equipment 13 3,337 5,285 — 8,635 Capital expenditures (1,237 ) (3,091 ) (11,295 ) — (15,623 ) Intercompany investment (339 ) (6,125 ) — 6,464 — Business acquisitions, net of cash acquired — — (80,674 ) — (80,674 ) Cash used in by investing activities (1,563 ) (5,879 ) (86,684 ) 6,464 (87,662 ) Financing Activities Net repayments on revolver and other debt — — (210 ) — (210 ) Purchase of treasury shares (14,125 ) — — — (14,125 ) Taxes paid related to the net share settlement of equity awards (1,344 ) — — — (1,344 ) Stock option exercises, related tax benefits and other 5,729 — — — 5,729 Cash dividend (2,376 ) — — — (2,376 ) Intercompany loan activity (12,139 ) — 12,139 — — Intercompany capital contribution — 339 6,125 (6,464 ) — Cash (used in) provided by financing activities (24,255 ) 339 18,054 (6,464 ) (12,326 ) Effect of exchange rate changes on cash — — (6,760 ) — (6,760 ) Net decrease in cash and cash equivalents (10,489 ) (523 ) (20,745 ) — (31,757 ) Cash and cash equivalents—beginning of period 18,688 523 149,635 — 168,846 Cash and cash equivalents—end of period $ 8,199 $ — $ 128,890 $ — $ 137,089 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash provided by (used in) operating activities $ 38,854 $ (39,865 ) $ 44,635 $ — $ 43,624 Investing Activities Capital expenditures (880 ) (3,495 ) (12,859 ) — (17,234 ) Proceeds from sale of property, plant and equipment — 203 683 — 886 Intercompany investment (1,117 ) — — 1,117 — Cash used in investing activities (1,997 ) (3,292 ) (12,176 ) 1,117 (16,348 ) Financing Activities Principal repayment on term loan (3,375 ) — — — (3,375 ) Proceeds from term loan 213,375 — — — 213,375 Purchase of treasury shares (204,627 ) — — — (204,627 ) Taxes paid related to the net share settlement of equity awards (2,344 ) — — — (2,344 ) Stock option exercises, related tax benefits and other 5,046 — — — 5,046 Debt issuance costs (1,875 ) — — — (1,875 ) Cash dividend (2,598 ) — — — (2,598 ) Intercompany loan activity (58,569 ) 40,796 17,773 — — Intercompany capital contribution — — 1,117 (1,117 ) — Cash (used in) provided by financing activities (54,967 ) 40,796 18,890 (1,117 ) 3,602 Effect of exchange rate changes on cash — — (31,765 ) — (31,765 ) Net (decrease) increase in cash and cash equivalents (18,110 ) (2,361 ) 19,584 — (887 ) Cash and cash equivalents—beginning of period 27,931 3,325 77,756 — 109,012 Cash and cash equivalents—end of period $ 9,821 $ 964 $ 97,340 $ — $ 108,125

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Tables)	9 Months Ended
	May 31, 2016
Accounting Policies [Abstract]
Restructuring and Related Costs [Table Text Block]	he following rollforward summarizes current year restructuring activities, by segment, for the nine months ended May 31, 2016 (in thousands): Industrial Energy Engineered Solutions Corporate Total Balance as of August 31, 2015 $ — $ — $ — $ — $ — Restructuring charges 1,792 4,877 4,528 261 11,458 Cash payments (1,000 ) (1,122 ) (2,182 ) (200 ) (4,504 ) Other non-cash uses of reserve — (170 ) (304 ) (1 ) (475 ) Impact of changes in foreign currency rates 17 (14 ) 18 — 21 Balance as of May 31, 2016 $ 809 $ 3,571 $ 2,060 $ 60 $ 6,500

Acquisitions Acquisitions - Pro

Acquisitions Acquisitions - Pro Forma Results of Operations (Tables) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Net sales
Net sales, As reported	$ 305,341	$ 320,100	$ 873,641	$ 948,870
Net sales, Pro forma	308,526	325,409	899,535	966,006
Net earnings (loss)
Net earnings (loss), As reported	21,166	37,958	(122,576)	(2,206)
Net earnings (loss), Pro forma	$ 21,783	$ 38,036	$ (118,520)	$ (2,114)
Basic earnings (loss) per share
Basic earning (loss) per share, As reported	$ 0.36	$ 0.64	$ (2.08)	$ (0.04)
Basic earnings (loss) per share, Pro forma	0.37	0.64	(2.01)	(0.04)
Diluted earnings (loss) per share
Diluted earnings (loss) per share, As reported	0.36	0.63	(2.08)	(0.04)
Diluted earnings (loss) per share, Pro forma	$ 0.37	$ 0.63	$ (2.01)	$ (0.04)

Goodwill and Other Intangible21

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	May 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Asset Impairment Charges [Table Text Block]	A summary of the second quarter fiscal 2016 impairment charge by reporting unit is as follows (in thousands): Cortland Viking maximatecc Total Goodwill $ 34,502 $ 39,099 $ 44,521 $ 118,122 Indefinite lived intangible assets 2,211 13,289 1,153 16,653 Amortizable intangible assets — 27,952 — 27,952 Fixed assets — 23,784 23,784 $ 36,713 $ 104,124 $ 45,674 $ 186,511
Schedule of Goodwill	The changes in the carrying value of goodwill for the nine months ended May 31, 2016 are as follows (in thousands): Industrial Energy Engineered Solutions Total Balance as of August 31, 2015 $ 92,107 $ 236,450 $ 279,699 $ 608,256 Business acquisitions 9,718 35,403 — 45,121 Impairment charge — (73,919 ) (44,543 ) (118,462 ) Impact of changes in foreign currency rates (97 ) (4,493 ) (904 ) (5,494 ) Balance as of May 31, 2016 $ 101,728 $ 193,441 $ 234,252 $ 529,421
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Table	The gross carrying value and accumulated amortization of the Company’s other intangible assets are as follows (in thousands): May 31, 2016 August 31, 2015 Weighted Average Amortization Period (Years) Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Amortizable intangible assets: Customer relationships 14 $ 307,400 $ 170,027 $ 137,373 $ 302,518 $ 132,007 $ 170,511 Patents 10 30,700 21,830 8,870 30,899 19,928 10,971 Trademarks and tradenames 18 21,233 7,658 13,575 21,604 7,055 14,549 Other intangibles 3 6,755 5,880 875 6,790 6,496 294 Indefinite lived intangible assets: Tradenames N/A 95,228 — 95,228 112,437 — 112,437 $ 461,316 $ 205,395 $ 255,921 $ 474,248 $ 165,486 $ 308,762

Product Warranty Costs (Tables)

Product Warranty Costs (Tables)	9 Months Ended
	May 31, 2016
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following is a rollforward of the product warranty reserve (in thousands): Nine Months Ended May 31, 2016 2015 Beginning balance $ 3,718 $ 4,056 Provision for warranties 3,225 4,198 Warranty reserve for acquired businesses 3 — Warranty payments and costs incurred (3,155 ) (3,505 ) Impact of changes in foreign currency rates (35 ) (589 ) Ending balance $ 3,756 $ 4,160

Debt (Tables)

Debt (Tables)	9 Months Ended
	May 31, 2016
Debt Disclosure [Abstract]
Long-Term Indebtedness	The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2016 August 31, 2015 Senior Credit Facility Revolver $ — $ — Term Loan 300,000 300,000 Total Senior Credit Facility 300,000 300,000 5.625% Senior Notes 288,059 288,059 Total Senior Indebtedness 588,059 588,059 Less: current maturities of long-term debt (15,000 ) (3,750 ) Total long-term debt, less current maturities $ 573,059 $ 584,309

Derivatives Derivatives (Tables

Derivatives Derivatives (Tables)	9 Months Ended
	May 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Net foreign currency gains (losses) related to these derivative instruments are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Foreign currency gain (loss) $ (394 ) $ 2,310 $ (1,028 ) $ 304

Capital Stock and Share Repur25

Capital Stock and Share Repurchase (Tables)	9 Months Ended
	May 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation between basic and diluted earnings (loss) per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Numerator: Net earnings (loss) $ 21,166 $ 37,958 $ (122,576 ) $ (2,206 ) Denominator: Weighted average common shares outstanding - basic 58,923 59,617 59,034 61,911 Net effect of dilutive securities - stock based compensation plans (1) 666 626 — — Weighted average common shares outstanding - diluted 59,589 60,243 $ 59,034 $ 61,911 Basic earnings (loss) per share $ 0.36 $ 0.64 $ (2.08 ) $ (0.04 ) Diluted earnings (loss) per share 0.36 0.63 (2.08 ) (0.04 ) Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 1,930 2,256 4,973 4,662 (1) As a result of the impairment charges which caused a net loss in both the nine months ended May 31, 2016 and 2015 , shares from stock based compensation plans are excluded from the calculation of diluted earnings (loss) per share, as the result would be anti-dilutive.

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
	May 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Effective Tax Rate [Table Text Block]	Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Earnings (loss) before income taxes $ 20,339 $ 34,971 $ (141,242 ) $ 4,579 Income tax (benefit) expense (827 ) (2,987 ) (18,666 ) 6,785 Effective income tax rate (4.1 )% (8.5 )% 13.2 % 148.2 %

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	May 31, 2016
Segment Reporting [Abstract]
Summary of Financial Information by Reportable Segment and Product Line	The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2016 2015 2016 2015 Net Sales by Reportable Product Line & Segment: Industrial Segment: Industrial Tools $ 81,771 $ 88,348 $ 233,599 $ 267,064 Integrated Solutions 13,980 15,198 32,210 35,384 95,751 103,546 265,809 302,448 Energy Segment: Energy Maintenance & Integrity 73,377 62,644 210,762 182,985 Other Energy Solutions 27,923 36,653 90,526 128,044 101,300 99,297 301,288 311,029 Engineered Solutions Segment: On-Highway 58,439 59,673 161,949 170,122 Agriculture, Off-Highway and Other 49,851 57,584 144,595 165,271 108,290 117,257 306,544 335,393 $ 305,341 $ 320,100 $ 873,641 $ 948,870 Operating Profit (Loss): Industrial $ 21,712 $ 29,165 $ 58,994 $ 79,386 Energy (1) 10,870 12,774 (115,803 ) (50,457 ) Engineered Solutions (2) 3,651 8,313 (37,943 ) 16,601 General Corporate (7,890 ) (7,250 ) (23,649 ) (20,757 ) $ 28,343 $ 43,002 $ (118,401 ) $ 24,773 (1) Energy segment operating profit (loss) includes impairment charges of $140.8 million and $84.4 million for the nine months ended May 31, 2016 and 2015 , respectively. (2) Engineered Solutions segment operating profit (loss) includes an impairment charge of $45.7 million for the nine months ended May 31, 2016 . May 31, 2016 August 31, 2015 Assets by Segment: Industrial $ 299,971 $ 293,738 Energy 508,660 601,521 Engineered Solutions 529,275 588,200 General Corporate 129,514 153,458 $ 1,467,420 $ 1,636,917

Guarantor Subsidiaries (Tables)

Guarantor Subsidiaries (Tables)	9 Months Ended
	May 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Condensed Consolidating Statement Of Earnings And Comprehensive Income [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 33,610 $ 62,534 $ 209,197 $ — $ 305,341 Cost of products sold 6,603 43,381 147,831 — 197,815 Gross profit 27,007 19,153 61,366 — 107,526 Selling, administrative and engineering expenses 17,172 13,606 39,342 — 70,120 Amortization of intangible assets 318 2,630 2,619 — 5,567 Restructuring charges 100 197 3,199 — 3,496 Operating profit 9,417 2,720 16,206 — 28,343 Financing costs, net 7,601 — (348 ) — 7,253 Intercompany (income) expense, net (4,990 ) 1,254 3,736 — — Other expense, net 199 13 539 — 751 Earnings before income taxes 6,607 1,453 12,279 — 20,339 Income tax expense (benefit) (929 ) 115 (13 ) — (827 ) Net earnings before equity in earnings of subsidiaries 7,536 1,338 12,292 — 21,166 Equity in earnings of subsidiaries 13,630 10,382 239 (24,251 ) — Net earnings $ 21,166 $ 11,720 $ 12,531 $ (24,251 ) $ 21,166 Comprehensive income $ 36,488 $ 25,205 $ 14,148 $ (39,353 ) $ 36,488 CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 40,011 $ 58,896 $ 221,193 $ — $ 320,100 Cost of products sold 11,749 40,360 149,431 — 201,540 Gross profit 28,262 18,536 71,762 — 118,560 Selling, administrative and engineering expenses 16,560 11,228 41,781 — 69,569 Amortization of intangible assets 318 2,394 3,277 — 5,989 Operating profit 11,384 4,914 26,704 — 43,002 Financing costs, net 7,769 — (307 ) — 7,462 Intercompany (income) expense, net (3,559 ) (1,187 ) 4,746 — — Other expense, net 123 27 419 — 569 Earnings before income taxes 7,051 6,074 21,846 — 34,971 Income tax expense (benefit) (11,957 ) 914 8,056 — (2,987 ) Net earnings before equity in earnings (loss) of subsidiaries 19,008 5,160 13,790 — 37,958 Equity in earnings (loss) of subsidiaries 18,950 12,757 (340 ) (31,367 ) — Net earnings $ 37,958 $ 17,917 $ 13,450 $ (31,367 ) $ 37,958 Comprehensive income $ 27,259 $ 13,244 $ 7,930 $ (21,174 ) $ 27,259 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands) Nine Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 100,699 $ 188,333 $ 584,609 $ — $ 873,641 Cost of products sold 25,851 132,711 407,962 — 566,524 Gross profit 74,848 55,622 176,647 — 307,117 Selling, administrative and engineering expenses 54,049 41,113 115,040 — 210,202 Amortization of intangible assets 954 7,890 8,503 — 17,347 Restructuring charges 1,057 2,692 7,709 — 11,458 Impairment charges — 49,012 137,499 — 186,511 Operating profit (loss) 18,788 (45,085 ) (92,104 ) — (118,401 ) Financing costs, net 22,364 — (1,128 ) — 21,236 Intercompany (income) expense, net (16,284 ) (1,478 ) 17,762 — — Other expense, net 802 44 759 — 1,605 Earnings (loss) before income taxes 11,906 (43,651 ) (109,497 ) — (141,242 ) Income tax expense (benefit) (1,986 ) 420 (17,100 ) — (18,666 ) Net earnings (loss) before equity in loss of subsidiaries 13,892 (44,071 ) (92,397 ) — (122,576 ) Equity in earnings (loss) of subsidiaries (136,468 ) (79,373 ) 236 215,605 — Net loss $ (122,576 ) $ (123,444 ) $ (92,161 ) $ 215,605 $ (122,576 ) Comprehensive loss $ (142,339 ) $ (138,806 ) $ (97,165 ) $ 235,971 $ (142,339 ) CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands) Nine Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 119,612 $ 207,162 $ 622,096 $ — $ 948,870 Cost of products sold 33,792 145,800 413,981 — 593,573 Gross profit 85,820 61,362 208,115 — 355,297 Selling, administrative and engineering expenses 52,062 45,062 130,685 — 227,809 Amortization of intangible assets 954 7,964 9,444 — 18,362 Impairment charges — 20,249 64,104 — 84,353 Operating profit (loss) 32,804 (11,913 ) 3,882 — 24,773 Financing costs, net 21,583 — (900 ) — 20,683 Intercompany expense (income), net (14,389 ) 896 13,493 — — Intercompany dividend income (212 ) (243 ) (31 ) 486 — Other expense (income), net 342 (133 ) (698 ) — (489 ) Earnings (loss) before income taxes 25,480 (12,433 ) (7,982 ) (486 ) 4,579 Income tax expense (benefit) (8,133 ) 1,413 13,589 (84 ) 6,785 Net earnings (loss) before equity in earnings (loss) of subsidiaries 33,613 (13,846 ) (21,571 ) (402 ) (2,206 ) Equity in earnings (loss) of subsidiaries (35,819 ) (1,673 ) 177 37,315 — Net loss $ (2,206 ) $ (15,519 ) $ (21,394 ) $ 36,913 $ (2,206 ) Comprehensive loss $ (132,616 ) $ (58,603 ) $ (80,728 ) $ 139,331 $ (132,616 )
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 8,199 $ — $ 128,890 $ — $ 137,089 Accounts receivable, net 13,367 33,889 152,846 — 200,102 Inventories, net 22,416 29,748 86,292 — 138,456 Other current assets 13,268 3,187 43,631 — 60,086 Total current assets 57,250 66,824 411,659 — 535,733 Property, plant and equipment, net 5,641 19,080 93,507 — 118,228 Goodwill 38,847 143,690 346,884 — 529,421 Other intangibles, net 9,747 98,411 147,763 — 255,921 Investment in subsidiaries 1,915,828 899,892 87,193 (2,902,913 ) — Intercompany receivable — 617,942 556,837 (1,174,779 ) — Other long-term assets 9,877 7 18,233 — 28,117 Total assets $ 2,037,190 $ 1,845,846 $ 1,662,076 $ (4,077,692 ) $ 1,467,420 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 14,085 $ 16,096 $ 89,919 $ — $ 120,100 Accrued compensation and benefits 15,801 4,671 26,960 — 47,432 Current maturities of debt and short-term borrowings 15,000 — — — 15,000 Income taxes payable — — 1,249 — 1,249 Other current liabilities 23,187 4,937 30,756 — 58,880 Total current liabilities 68,073 25,704 148,884 — 242,661 Long-term debt, less current maturities 573,059 — — — 573,059 Deferred income taxes 34,641 — 20,891 — 55,532 Pension and postretirement benefit liabilities 10,228 — 5,461 — 15,689 Other long-term liabilities 47,083 593 8,954 — 56,630 Intercompany payable 780,257 — 394,522 (1,174,779 ) — Shareholders’ equity 523,849 1,819,549 1,083,364 (2,902,913 ) 523,849 Total liabilities and shareholders’ equity $ 2,037,190 $ 1,845,846 $ 1,662,076 $ (4,077,692 ) $ 1,467,420 CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) August 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 18,688 $ 523 $ 149,635 $ — $ 168,846 Accounts receivable, net 16,135 33,748 143,198 — 193,081 Inventories, net 23,074 33,480 86,198 — 142,752 Deferred income taxes 9,256 — 3,666 — 12,922 Other current assets 18,020 2,967 21,801 — 42,788 Total current assets 85,173 70,718 404,498 — 560,389 Property, plant and equipment, net 6,363 23,691 112,404 — 142,458 Goodwill 38,847 189,337 380,072 — 608,256 Other intangibles, net 10,702 109,665 188,395 — 308,762 Investment in subsidiaries 2,067,438 1,017,418 27,552 (3,112,408 ) — Intercompany receivable — 619,198 565,968 (1,185,166 ) — Other long-term assets 10,694 — 6,358 — 17,052 Total assets $ 2,219,217 $ 2,030,027 $ 1,685,247 $ (4,297,574 ) $ 1,636,917 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 14,700 $ 19,213 $ 84,202 $ — $ 118,115 Accrued compensation and benefits 16,479 2,952 24,276 — 43,707 Current maturities of debt and short-term borrowings 3,750 — 219 — 3,969 Income taxes payable 10,947 — 3,858 — 14,805 Other current liabilities 19,817 4,783 29,860 — 54,460 Total current liabilities 65,693 26,948 142,415 — 235,056 Long-term debt, less current maturities 584,309 — — — 584,309 Deferred income taxes 43,210 — 29,731 — 72,941 Pension and postretirement benefit liabilities 11,712 — 6,116 — 17,828 Other long-term liabilities 46,407 400 6,975 — 53,782 Intercompany payable 794,885 — 390,281 (1,185,166 ) — Shareholders’ equity 673,001 2,002,679 1,109,729 (3,112,408 ) 673,001 Total liabilities and shareholders’ equity $ 2,219,217 $ 2,030,027 $ 1,685,247 $ (4,297,574 ) $ 1,636,917
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Cash provided by operating activities $ 15,329 $ 5,017 $ 54,645 $ — $ 74,991 Investing Activities Proceeds from sale of property, plant and equipment 13 3,337 5,285 — 8,635 Capital expenditures (1,237 ) (3,091 ) (11,295 ) — (15,623 ) Intercompany investment (339 ) (6,125 ) — 6,464 — Business acquisitions, net of cash acquired — — (80,674 ) — (80,674 ) Cash used in by investing activities (1,563 ) (5,879 ) (86,684 ) 6,464 (87,662 ) Financing Activities Net repayments on revolver and other debt — — (210 ) — (210 ) Purchase of treasury shares (14,125 ) — — — (14,125 ) Taxes paid related to the net share settlement of equity awards (1,344 ) — — — (1,344 ) Stock option exercises, related tax benefits and other 5,729 — — — 5,729 Cash dividend (2,376 ) — — — (2,376 ) Intercompany loan activity (12,139 ) — 12,139 — — Intercompany capital contribution — 339 6,125 (6,464 ) — Cash (used in) provided by financing activities (24,255 ) 339 18,054 (6,464 ) (12,326 ) Effect of exchange rate changes on cash — — (6,760 ) — (6,760 ) Net decrease in cash and cash equivalents (10,489 ) (523 ) (20,745 ) — (31,757 ) Cash and cash equivalents—beginning of period 18,688 523 149,635 — 168,846 Cash and cash equivalents—end of period $ 8,199 $ — $ 128,890 $ — $ 137,089 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash provided by (used in) operating activities $ 38,854 $ (39,865 ) $ 44,635 $ — $ 43,624 Investing Activities Capital expenditures (880 ) (3,495 ) (12,859 ) — (17,234 ) Proceeds from sale of property, plant and equipment — 203 683 — 886 Intercompany investment (1,117 ) — — 1,117 — Cash used in investing activities (1,997 ) (3,292 ) (12,176 ) 1,117 (16,348 ) Financing Activities Principal repayment on term loan (3,375 ) — — — (3,375 ) Proceeds from term loan 213,375 — — — 213,375 Purchase of treasury shares (204,627 ) — — — (204,627 ) Taxes paid related to the net share settlement of equity awards (2,344 ) — — — (2,344 ) Stock option exercises, related tax benefits and other 5,046 — — — 5,046 Debt issuance costs (1,875 ) — — — (1,875 ) Cash dividend (2,598 ) — — — (2,598 ) Intercompany loan activity (58,569 ) 40,796 17,773 — — Intercompany capital contribution — — 1,117 (1,117 ) — Cash (used in) provided by financing activities (54,967 ) 40,796 18,890 (1,117 ) 3,602 Effect of exchange rate changes on cash — — (31,765 ) — (31,765 ) Net (decrease) increase in cash and cash equivalents (18,110 ) (2,361 ) 19,584 — (887 ) Cash and cash equivalents—beginning of period 27,931 3,325 77,756 — 109,012 Cash and cash equivalents—end of period $ 9,821 $ 964 $ 97,340 $ — $ 108,125

Basis of Presentation Basis o29

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016	Feb. 29, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Restructuring Reserve [Roll Forward]
Balance as of August 31, 2015				$ 0
Restructuring charges	$ 3,496		$ 0	11,458	$ 0
Cash payments				(4,504)
Other non-cash uses of reserve				(475)
Impact of changes in foreign currency rates				21
Balance as of May 31, 2016	6,500			6,500
Interest Income, Other	400		500	1,400	1,400
Impairment charges	0	$ 186,511	$ 0	186,511	84,353
Industrial
Restructuring Reserve [Roll Forward]
Balance as of August 31, 2015				0
Restructuring charges				1,792
Cash payments				(1,000)
Other non-cash uses of reserve				0
Impact of changes in foreign currency rates				17
Balance as of May 31, 2016	809			809
Energy
Restructuring Reserve [Roll Forward]
Balance as of August 31, 2015				0
Restructuring charges				4,877
Cash payments				(1,122)
Other non-cash uses of reserve				(170)
Impact of changes in foreign currency rates				(14)
Balance as of May 31, 2016	3,571			3,571
Impairment charges				140,837	$ 84,353
Engineered Solutions
Restructuring Reserve [Roll Forward]
Balance as of August 31, 2015				0
Restructuring charges				4,528
Cash payments				(2,182)
Other non-cash uses of reserve				(304)
Impact of changes in foreign currency rates				18
Balance as of May 31, 2016	2,060			2,060
Impairment charges				45,674
General Corporate
Restructuring Reserve [Roll Forward]
Balance as of August 31, 2015				0
Restructuring charges				261
Cash payments				(200)
Other non-cash uses of reserve				(1)
Impact of changes in foreign currency rates				0
Balance as of May 31, 2016	$ 60			$ 60

Acquisitions Acquisitions (Deta

Acquisitions Acquisitions (Details) $ in Thousands	Mar. 31, 2016USD ($)	Feb. 18, 2016USD ($)	May 31, 2016USD ($)	May 31, 2015USD ($)	May 31, 2016USD ($)acquisition	May 31, 2015USD ($)	Mar. 30, 2016USD ($)	Feb. 17, 2016USD ($)
Business Acquisition [Line Items]
Number of Businesses Acquired | acquisition					2
Business acquisitions					$ 45,121
Payments to Acquire Businesses, Net of Cash Acquired					80,674	$ 0
Business Combination, Acquisition Related Costs			$ 1,300	$ 40	2,700	100
Net sales			305,341	$ 320,100	$ 873,641	$ 948,870
Larzep
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Feb. 17, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								$ 4,777
Business acquisitions		$ 9,718
Payments to Acquire Businesses, Net of Cash Acquired		$ 15,900
Goodwill, Purchase Accounting Adjustments			2,500
Net sales			2,000
FourQuest
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Mar. 30, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							$ 8,700
Business acquisitions	$ 35,400
Payments to Acquire Businesses, Gross	$ 64,300
Net sales			5,300
Fiscal 2016 acquisitions [Member]
Business Acquisition [Line Items]
Net sales			$ 7,300
Tradenames | Larzep
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								1,200
Customer relationships | Larzep
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								$ 3,600
Customer relationships | FourQuest
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							8,000
Other intangibles | FourQuest
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							$ 700

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Feb. 29, 2016	May 31, 2016	May 31, 2015
Goodwill [Roll Forward]
Balance as of August 31, 2015		$ 608,256
Business acquisitions		45,121
Goodwill impairment charge	$ (118,122)	(118,462)	$ (77,992)
Impact of changes in foreign currency rates		(5,494)
Balance as of May 31, 2016		529,421
Industrial
Goodwill [Roll Forward]
Balance as of August 31, 2015		92,107
Business acquisitions		9,718
Goodwill impairment charge		0
Impact of changes in foreign currency rates		(97)
Balance as of May 31, 2016		101,728
Energy
Goodwill [Roll Forward]
Balance as of August 31, 2015		236,450
Business acquisitions		35,403
Goodwill impairment charge		(73,919)
Impact of changes in foreign currency rates		(4,493)
Balance as of May 31, 2016		193,441
Engineered Solutions
Goodwill [Roll Forward]
Balance as of August 31, 2015		279,699
Business acquisitions		0
Goodwill impairment charge		(44,543)
Impact of changes in foreign currency rates		(904)
Balance as of May 31, 2016		$ 234,252

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2016	Aug. 31, 2015
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 205,395	$ 165,486
Other intangibles, gross	461,316	474,248
Other intangibles, net	255,921	308,762
Tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 95,228	112,437
Customer relationships
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	14 years
Gross Carrying Value	$ 307,400	302,518
Accumulated Amortization	170,027	132,007
Net Book Value	$ 137,373	170,511
Patents
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	10 years
Gross Carrying Value	$ 30,700	30,899
Accumulated Amortization	21,830	19,928
Net Book Value	$ 8,870	10,971
Trademarks and tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	18 years
Gross Carrying Value	$ 21,233	21,604
Accumulated Amortization	7,658	7,055
Net Book Value	$ 13,575	14,549
Other intangibles
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	3 years
Gross Carrying Value	$ 6,755	6,790
Accumulated Amortization	5,880	6,496
Net Book Value	$ 875	$ 294

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016	Feb. 29, 2016	May 31, 2015	May 31, 2016	May 31, 2015	Aug. 31, 2015
Impaired Assets [Line Items]
Goodwill impairment charge		$ 118,122		$ 118,462	$ 77,992
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		16,653
Impairment of Intangible Assets, Finite-lived		27,952
Tangible Asset Impairment Charges		23,784
Impairment charges	$ 0	186,511	$ 0	186,511	84,353
Goodwill	529,421			529,421		$ 608,256
Future Amortization Expense, Remainder of 2016	5,600			5,600
Future Amortization Expense, 2017	21,300			21,300
Future Amortization Expense, 2018	21,000			21,000
Future Amortization Expense, 2019	20,700			20,700
Future Amortization Expense, 2020	19,900			19,900
Future Amortization Expense, 2021	18,800			18,800
Future Amortization Expense, Thereafter	$ 53,400			$ 53,400
Tradenames
Impaired Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)					$ 6,362
Viking
Impaired Assets [Line Items]
Goodwill impairment charge		39,099
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		13,289
Impairment of Intangible Assets, Finite-lived		27,952
Tangible Asset Impairment Charges		23,784
Impairment charges		104,124
Cortland
Impaired Assets [Line Items]
Goodwill impairment charge		34,502
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		2,211
Impairment of Intangible Assets, Finite-lived		0
Tangible Asset Impairment Charges		0
Impairment charges		36,713
maximatecc
Impaired Assets [Line Items]
Goodwill impairment charge		44,521
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		1,153
Impairment of Intangible Assets, Finite-lived		0
Tangible Asset Impairment Charges
Impairment charges		$ 45,674

Rollforward of Accrued Product

Rollforward of Accrued Product Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2016	May 31, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 3,718	$ 4,056
Provision for warranties	3,225	4,198
Warranty reserve for acquired businesses	3	0
Warranty payments and costs incurred	(3,155)	(3,505)
Impact of changes in foreign currency rates	(35)	(589)
Ending balance	$ 3,756	$ 4,160

Long-Term Indebtedness (Details

Long-Term Indebtedness (Details) - USD ($) $ in Thousands	May 31, 2016	Aug. 31, 2015
Debt Instrument [Line Items]
Total Senior Indebtedness	$ 588,059	$ 588,059
Less: current maturities of long-term debt	(15,000)	(3,750)
Total long-term debt, less current maturities	573,059	584,309
Line of Credit
Debt Instrument [Line Items]
Total Senior Indebtedness	300,000	300,000
Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Total Senior Indebtedness	0	0
Line of Credit | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Total Senior Indebtedness	300,000	300,000
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Senior Notes, Noncurrent	$ 288,059	$ 288,059

Debt - Additional Information (

Debt - Additional Information (Details)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Apr. 16, 2012USD ($)	May 31, 2016USD ($)	May 31, 2016USD ($)
Debt Instrument [Line Items]
Senior credit facility expansion option, available				$ 450,000,000	$ 450,000,000
Debt Instrument, actual interest rate				2.44%	2.44%
Libor Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate				2.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Maturity Date					May 8, 2020
Maximum borrowing capacity				$ 600,000,000	$ 600,000,000
Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				300,000,000	300,000,000
Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Unused credit line				592,100,000	592,100,000
Unused credit line Available for Borrowing, Amount				$ 183,000,000	$ 183,000,000
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Maturity Date					Jun. 15, 2022
Debt Instrument, Face Amount			$ 300,000,000
Debt instrument, interest rate			5.625%
Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.15%
Interest coverage ratio				3.5	3.5
Minimum | Libor Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate				1.00%
Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate				0.00%
Minimum | Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			100.00%
Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.35%
Leverage ratio				3.75	3.75
Maximum | Libor Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate				2.25%
Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate				1.25%
Maximum | Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			102.80%
Starting on June 30, 2016 | Scenario, Forecast | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Quarterly installments, payable on term loan		$ 3,750,000
Starting on June 30, 2017 | Scenario, Forecast | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Quarterly installments, payable on term loan	$ 7,500,000

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($) $ in Millions	May 31, 2016	Aug. 31, 2015
Senior Notes | 5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 296	$ 287.3

Derivatives Narrative (Details)

Derivatives Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2016	May 31, 2015	May 31, 2016	May 31, 2015	Aug. 31, 2015
Derivative [Line Items]
Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives and Not Designated as Hedging Instruments at Fair Value	$ (394)	$ 2,310	$ (1,028)	$ 304
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 80,500		$ 80,500		$ 170,700

Capital Stock and Share Repur39

Capital Stock and Share Repurchase Share Repurchase (Details) - shares	May 31, 2016	Aug. 31, 2015	Mar. 16, 2015	Oct. 01, 2014	Mar. 19, 2014	Sep. 28, 2011
Equity [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			7,000,000	7,000,000	7,000,000	7,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	7,673,521
Treasury Stock, Shares	20,326,479	19,726,479

Capital Stock (Details)

Capital Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Earnings Per Share [Abstract]
Net earnings (loss)	$ 21,166	$ 37,958	$ (122,576)	$ (2,206)
Weighted average common shares outstanding - basic	58,923	59,617	59,034	61,911
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	666	626	0	0
Diluted	59,589	60,243	59,034	61,911
Basic	$ 0.36	$ 0.64	$ (2.08)	$ (0.04)
Diluted	$ 0.36	$ 0.63	$ (2.08)	$ (0.04)
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation)	1,930	2,256	4,973	4,662

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016	Feb. 29, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Income Tax Disclosure [Abstract]
Earnings (loss) before income taxes	$ 20,339		$ 34,971	$ (141,242)	$ 4,579
Income tax (benefit) expense	$ (827)		$ (2,987)	$ (18,666)	$ 6,785
Effective Tax Rate	(4.10%)		(8.50%)	13.20%	148.20%
Tax Adjustments, Settlements, and Unusual Provisions	$ 2,300		$ 19,200
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions			5,000
Valuation Allowances and Reserves, Adjustments			5,200
Impairment charges	$ 0	$ 186,511	$ 0	$ 186,511	$ 84,353
Impairment charges, net of deferred tax benefits				$ 169,056	$ 82,635
Earnings from foreign jurisdictions				90.00%	70.00%
Change in pretax earnings excluding impairment charges				$ 43,700

Summary of Financial Informatio

Summary of Financial Information by Reportable Segment and Product Line (Details) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016USD ($)	Feb. 29, 2016USD ($)	May 31, 2015USD ($)	May 31, 2016USD ($)Segment	May 31, 2015USD ($)	Aug. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment				3
Net sales	$ 305,341		$ 320,100	$ 873,641	$ 948,870
Operating profit (Loss)	28,343		43,002	(118,401)	24,773
Assets	1,467,420			1,467,420		$ 1,636,917
Impairment charges	0	$ 186,511	0	186,511	84,353
Industrial
Segment Reporting Information [Line Items]
Net sales	95,751		103,546	265,809	302,448
Operating profit (Loss)	21,712		29,165	58,994	79,386
Assets	299,971			299,971		293,738
Industrial Tools
Segment Reporting Information [Line Items]
Net sales	81,771		88,348	233,599	267,064
Integrated Solutions
Segment Reporting Information [Line Items]
Net sales	13,980		15,198	32,210	35,384
Energy
Segment Reporting Information [Line Items]
Net sales	101,300		99,297	301,288	311,029
Operating profit (Loss)	10,870		12,774	(115,803)	(50,457)
Assets	508,660			508,660		601,521
Impairment charges				140,837	84,353
Energy Maintenance & Integrity
Segment Reporting Information [Line Items]
Net sales	73,377		62,644	210,762	182,985
Other Energy Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	27,923		36,653	90,526	128,044
Engineered Solutions
Segment Reporting Information [Line Items]
Net sales	108,290		117,257	306,544	335,393
Operating profit (Loss)	3,651		8,313	(37,943)	16,601
Assets	529,275			529,275		588,200
Impairment charges				45,674
On-Highway
Segment Reporting Information [Line Items]
Net sales	58,439		59,673	161,949	170,122
Agriculture, Off-Highway and Other
Segment Reporting Information [Line Items]
Net sales	49,851		57,584	144,595	165,271
General Corporate
Segment Reporting Information [Line Items]
Operating profit (Loss)	(7,890)		$ (7,250)	(23,649)	$ (20,757)
Assets	$ 129,514			$ 129,514		$ 153,458

Contingencies and Litigation -

Contingencies and Litigation - Additional Information (Details) - USD ($) $ in Millions	May 31, 2016	Aug. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 19.1	$ 18.1
Discounted present value of future minimum lease payments	$ 16.3

Guarantor Subsidiaries - Additi

Guarantor Subsidiaries - Additional Information (Details) - 5.625% Senior Notes - Senior Notes - USD ($)	May 31, 2016	Aug. 31, 2015	Apr. 16, 2012
Guarantor Obligations [Line Items]
Debt Instrument, Face Amount			$ 300,000,000
Senior Notes, Noncurrent	$ 288,059,000	$ 288,059,000
Debt instrument, interest rate			5.625%

Condensed Consolidating Stateme

Condensed Consolidating Statements of Earnings and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2016	Feb. 29, 2016	May 31, 2015	May 31, 2016	May 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 305,341		$ 320,100	$ 873,641	$ 948,870
Cost of products sold	197,815		201,540	566,524	593,573
Gross profit	107,526		118,560	307,117	355,297
Selling, administrative and engineering expenses	70,120		69,569	210,202	227,809
Amortization of intangible assets	5,567		5,989	17,347	18,362
Restructuring charges	3,496		0	11,458	0
Impairment charges	0	$ 186,511	0	186,511	84,353
Operating profit (loss)	28,343		43,002	(118,401)	24,773
Financing costs, net	7,253		7,462	21,236	20,683
Intercompany (income) expense, net	0		0	0	0
Intercompany dividend income					0
Other expense (income), net	751		569	1,605	(489)
Earnings (loss) before income taxes	20,339		34,971	(141,242)	4,579
Income tax (benefit) expense	(827)		(2,987)	(18,666)	6,785
Net earnings before equity in earnings of subsidiaries	21,166		37,958	(122,576)	(2,206)
Equity in earnings of subsidiaries	0		0	0	0
Net earnings (loss)	21,166		37,958	(122,576)	(2,206)
Comprehensive income (loss)	36,488		27,259	(142,339)	(132,616)
Parent
Condensed Financial Statements, Captions [Line Items]
Net sales	33,610		40,011	100,699	119,612
Cost of products sold	6,603		11,749	25,851	33,792
Gross profit	27,007		28,262	74,848	85,820
Selling, administrative and engineering expenses	17,172		16,560	54,049	52,062
Amortization of intangible assets	318		318	954	954
Restructuring charges	100			1,057
Impairment charges				0	0
Operating profit (loss)	9,417		11,384	18,788	32,804
Financing costs, net	7,601		7,769	22,364	21,583
Intercompany (income) expense, net	(4,990)		(3,559)	(16,284)	(14,389)
Intercompany dividend income					(212)
Other expense (income), net	199		123	802	342
Earnings (loss) before income taxes	6,607		7,051	11,906	25,480
Income tax (benefit) expense	(929)		(11,957)	(1,986)	(8,133)
Net earnings before equity in earnings of subsidiaries	7,536		19,008	13,892	33,613
Equity in earnings of subsidiaries	13,630		18,950	(136,468)	(35,819)
Net earnings (loss)	21,166		37,958	(122,576)	(2,206)
Comprehensive income (loss)	36,488		27,259	(142,339)	(132,616)
Guarantors
Condensed Financial Statements, Captions [Line Items]
Net sales	62,534		58,896	188,333	207,162
Cost of products sold	43,381		40,360	132,711	145,800
Gross profit	19,153		18,536	55,622	61,362
Selling, administrative and engineering expenses	13,606		11,228	41,113	45,062
Amortization of intangible assets	2,630		2,394	7,890	7,964
Restructuring charges	197			2,692
Impairment charges				49,012	20,249
Operating profit (loss)	2,720		4,914	(45,085)	(11,913)
Financing costs, net	0		0	0	0
Intercompany (income) expense, net	1,254		(1,187)	(1,478)	896
Intercompany dividend income					(243)
Other expense (income), net	13		27	44	(133)
Earnings (loss) before income taxes	1,453		6,074	(43,651)	(12,433)
Income tax (benefit) expense	115		914	420	1,413
Net earnings before equity in earnings of subsidiaries	1,338		5,160	(44,071)	(13,846)
Equity in earnings of subsidiaries	10,382		12,757	(79,373)	(1,673)
Net earnings (loss)	11,720		17,917	(123,444)	(15,519)
Comprehensive income (loss)	25,205		13,244	(138,806)	(58,603)
Non-Guarantors
Condensed Financial Statements, Captions [Line Items]
Net sales	209,197		221,193	584,609	622,096
Cost of products sold	147,831		149,431	407,962	413,981
Gross profit	61,366		71,762	176,647	208,115
Selling, administrative and engineering expenses	39,342		41,781	115,040	130,685
Amortization of intangible assets	2,619		3,277	8,503	9,444
Restructuring charges	3,199			7,709
Impairment charges				137,499	64,104
Operating profit (loss)	16,206		26,704	(92,104)	3,882
Financing costs, net	(348)		(307)	(1,128)	(900)
Intercompany (income) expense, net	3,736		4,746	17,762	13,493
Intercompany dividend income					(31)
Other expense (income), net	539		419	759	(698)
Earnings (loss) before income taxes	12,279		21,846	(109,497)	(7,982)
Income tax (benefit) expense	(13)		8,056	(17,100)	13,589
Net earnings before equity in earnings of subsidiaries	12,292		13,790	(92,397)	(21,571)
Equity in earnings of subsidiaries	239		(340)	236	177
Net earnings (loss)	12,531		13,450	(92,161)	(21,394)
Comprehensive income (loss)	14,148		7,930	(97,165)	(80,728)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales	0		0	0	0
Cost of products sold	0		0	0	0
Gross profit	0		0	0	0
Selling, administrative and engineering expenses	0		0	0	0
Amortization of intangible assets	0		0	0	0
Restructuring charges	0			0
Impairment charges				0	0
Operating profit (loss)	0		0	0	0
Financing costs, net	0		0	0	0
Intercompany (income) expense, net	0		0	0	0
Intercompany dividend income					486
Other expense (income), net	0		0	0	0
Earnings (loss) before income taxes	0		0	0	(486)
Income tax (benefit) expense	0		0	0	(84)
Net earnings before equity in earnings of subsidiaries	0		0	0	(402)
Equity in earnings of subsidiaries	(24,251)		(31,367)	215,605	37,315
Net earnings (loss)	(24,251)		(31,367)	215,605	36,913
Comprehensive income (loss)	$ (39,353)		$ (21,174)	$ 235,971	$ 139,331

Condensed Consolidating Balance

Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	May 31, 2016	Aug. 31, 2015	May 31, 2015	Aug. 31, 2014
Current assets
Cash and cash equivalents	$ 137,089	$ 168,846	$ 108,125	$ 109,012
Accounts receivable, net	200,102	193,081
Inventories, net	138,456	142,752
Deferred income taxes	0	12,922
Other current assets	60,086	42,788
Total current assets	535,733	560,389
Property, plant and equipment, net	118,228	142,458
Goodwill	529,421	608,256
Other intangibles, net	255,921	308,762
Investment in subsidiaries	0	0
Intercompany receivable	0	0
Other long-term assets	28,117	17,052
Total assets	1,467,420	1,636,917
Current liabilities
Trade accounts payable	120,100	118,115
Accrued compensation and benefits	47,432	43,707
Current maturities of debt and short-term borrowings	15,000	3,969
Income taxes payable	1,249	14,805
Other current liabilities	58,880	54,460
Total current liabilities	242,661	235,056
Long-term debt, less current maturities	573,059	584,309
Deferred income taxes	55,532	72,941
Pension and postretirement benefit liabilities	15,689	17,828
Other long-term liabilities	56,630	53,782
Intercompany payable	0	0
Shareholders’ equity	523,849	673,001
Total liabilities and shareholders’ equity	1,467,420	1,636,917
Parent
Current assets
Cash and cash equivalents	8,199	18,688	9,821	27,931
Accounts receivable, net	13,367	16,135
Inventories, net	22,416	23,074
Deferred income taxes		9,256
Other current assets	13,268	18,020
Total current assets	57,250	85,173
Property, plant and equipment, net	5,641	6,363
Goodwill	38,847	38,847
Other intangibles, net	9,747	10,702
Investment in subsidiaries	1,915,828	2,067,438
Intercompany receivable	0	0
Other long-term assets	9,877	10,694
Total assets	2,037,190	2,219,217
Current liabilities
Trade accounts payable	14,085	14,700
Accrued compensation and benefits	15,801	16,479
Current maturities of debt and short-term borrowings	15,000	3,750
Income taxes payable	0	10,947
Other current liabilities	23,187	19,817
Total current liabilities	68,073	65,693
Long-term debt, less current maturities	573,059	584,309
Deferred income taxes	34,641	43,210
Pension and postretirement benefit liabilities	10,228	11,712
Other long-term liabilities	47,083	46,407
Intercompany payable	780,257	794,885
Shareholders’ equity	523,849	673,001
Total liabilities and shareholders’ equity	2,037,190	2,219,217
Guarantors
Current assets
Cash and cash equivalents	0	523	964	3,325
Accounts receivable, net	33,889	33,748
Inventories, net	29,748	33,480
Deferred income taxes		0
Other current assets	3,187	2,967
Total current assets	66,824	70,718
Property, plant and equipment, net	19,080	23,691
Goodwill	143,690	189,337
Other intangibles, net	98,411	109,665
Investment in subsidiaries	899,892	1,017,418
Intercompany receivable	617,942	619,198
Other long-term assets	7	0
Total assets	1,845,846	2,030,027
Current liabilities
Trade accounts payable	16,096	19,213
Accrued compensation and benefits	4,671	2,952
Current maturities of debt and short-term borrowings	0	0
Income taxes payable	0	0
Other current liabilities	4,937	4,783
Total current liabilities	25,704	26,948
Long-term debt, less current maturities	0	0
Deferred income taxes	0	0
Pension and postretirement benefit liabilities	0	0
Other long-term liabilities	593	400
Intercompany payable	0	0
Shareholders’ equity	1,819,549	2,002,679
Total liabilities and shareholders’ equity	1,845,846	2,030,027
Non-Guarantors
Current assets
Cash and cash equivalents	128,890	149,635	97,340	77,756
Accounts receivable, net	152,846	143,198
Inventories, net	86,292	86,198
Deferred income taxes		3,666
Other current assets	43,631	21,801
Total current assets	411,659	404,498
Property, plant and equipment, net	93,507	112,404
Goodwill	346,884	380,072
Other intangibles, net	147,763	188,395
Investment in subsidiaries	87,193	27,552
Intercompany receivable	556,837	565,968
Other long-term assets	18,233	6,358
Total assets	1,662,076	1,685,247
Current liabilities
Trade accounts payable	89,919	84,202
Accrued compensation and benefits	26,960	24,276
Current maturities of debt and short-term borrowings	0	219
Income taxes payable	1,249	3,858
Other current liabilities	30,756	29,860
Total current liabilities	148,884	142,415
Long-term debt, less current maturities	0	0
Deferred income taxes	20,891	29,731
Pension and postretirement benefit liabilities	5,461	6,116
Other long-term liabilities	8,954	6,975
Intercompany payable	394,522	390,281
Shareholders’ equity	1,083,364	1,109,729
Total liabilities and shareholders’ equity	1,662,076	1,685,247
Eliminations
Current assets
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Inventories, net	0	0
Deferred income taxes		0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Other intangibles, net	0	0
Investment in subsidiaries	(2,902,913)	(3,112,408)
Intercompany receivable	(1,174,779)	(1,185,166)
Other long-term assets	0	0
Total assets	(4,077,692)	(4,297,574)
Current liabilities
Trade accounts payable	0	0
Accrued compensation and benefits	0	0
Current maturities of debt and short-term borrowings	0	0
Income taxes payable	0	0
Other current liabilities	0	0
Total current liabilities	0	0
Long-term debt, less current maturities	0	0
Deferred income taxes	0	0
Pension and postretirement benefit liabilities	0	0
Other long-term liabilities	0	0
Intercompany payable	(1,174,779)	(1,185,166)
Shareholders’ equity	(2,902,913)	(3,112,408)
Total liabilities and shareholders’ equity	$ (4,077,692)	$ (4,297,574)

Condensed Consolidating State47

Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2016	May 31, 2015
Operating Activities
Cash provided by operating activities	$ 74,991	$ 43,624
Investing Activities
Capital expenditures	(15,623)	(17,234)
Proceeds from sale of property, plant and equipment	8,635	886
Business acquisitions, net of cash acquired	(80,674)	0
Intercompany Investment	0	0
Cash used in investing activities	(87,662)	(16,348)
Financing Activities
Purchase of treasury shares	(14,125)	(204,627)
Taxes paid related to the net share settlement of equity awards	(1,344)	(2,344)
Stock option exercises, related tax benefits and other	5,729	5,046
Payments of Debt Issuance Costs	0	(1,875)
Cash dividend	(2,376)	(2,598)
Intercompany Loan Activity	0	0
Intercompany Capital Contribution	0	0
Cash (used in) provided by financing activities	(12,326)	3,602
Effect of exchange rate changes on cash	(6,760)	(31,765)
Net decrease in cash and cash equivalents	(31,757)	(887)
Cash and cash equivalents – beginning of period	168,846	109,012
Cash and cash equivalents – end of period	137,089	108,125
Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	(210)	0
Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt	0	(3,375)
Proceeds from Long-term Lines of Credit	0	213,375
Parent
Operating Activities
Cash provided by operating activities	15,329	38,854
Investing Activities
Capital expenditures	(1,237)	(880)
Proceeds from sale of property, plant and equipment	13	0
Business acquisitions, net of cash acquired	0
Intercompany Investment	(339)	(1,117)
Cash used in investing activities	(1,563)	(1,997)
Financing Activities
Purchase of treasury shares	(14,125)	(204,627)
Taxes paid related to the net share settlement of equity awards	(1,344)	(2,344)
Stock option exercises, related tax benefits and other	5,729	5,046
Payments of Debt Issuance Costs		(1,875)
Cash dividend	(2,376)	(2,598)
Intercompany Loan Activity	12,139	58,569
Intercompany Capital Contribution	0	0
Cash (used in) provided by financing activities	(24,255)	(54,967)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	(10,489)	(18,110)
Cash and cash equivalents – beginning of period	18,688	27,931
Cash and cash equivalents – end of period	8,199	9,821
Parent | Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	0
Parent | Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt		(3,375)
Proceeds from Long-term Lines of Credit		213,375
Guarantors
Operating Activities
Cash provided by operating activities	5,017	(39,865)
Investing Activities
Capital expenditures	(3,091)	(3,495)
Proceeds from sale of property, plant and equipment	3,337	203
Business acquisitions, net of cash acquired	0
Intercompany Investment	(6,125)	0
Cash used in investing activities	(5,879)	(3,292)
Financing Activities
Purchase of treasury shares	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Stock option exercises, related tax benefits and other	0	0
Payments of Debt Issuance Costs		0
Cash dividend	0	0
Intercompany Loan Activity	0	(40,796)
Intercompany Capital Contribution	339	0
Cash (used in) provided by financing activities	339	40,796
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	(523)	(2,361)
Cash and cash equivalents – beginning of period	523	3,325
Cash and cash equivalents – end of period	0	964
Guarantors | Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	0
Guarantors | Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt		0
Proceeds from Long-term Lines of Credit		0
Non-Guarantors
Operating Activities
Cash provided by operating activities	54,645	44,635
Investing Activities
Capital expenditures	(11,295)	(12,859)
Proceeds from sale of property, plant and equipment	5,285	683
Business acquisitions, net of cash acquired	(80,674)
Intercompany Investment	0	0
Cash used in investing activities	(86,684)	(12,176)
Financing Activities
Purchase of treasury shares	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Stock option exercises, related tax benefits and other	0	0
Payments of Debt Issuance Costs		0
Cash dividend	0	0
Intercompany Loan Activity	(12,139)	(17,773)
Intercompany Capital Contribution	6,125	1,117
Cash (used in) provided by financing activities	18,054	18,890
Effect of exchange rate changes on cash	(6,760)	(31,765)
Net decrease in cash and cash equivalents	(20,745)	19,584
Cash and cash equivalents – beginning of period	149,635	77,756
Cash and cash equivalents – end of period	128,890	97,340
Non-Guarantors | Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	(210)
Non-Guarantors | Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt		0
Proceeds from Long-term Lines of Credit		0
Eliminations
Operating Activities
Cash provided by operating activities	0	0
Investing Activities
Capital expenditures	0	0
Proceeds from sale of property, plant and equipment	0	0
Business acquisitions, net of cash acquired	0
Intercompany Investment	6,464	1,117
Cash used in investing activities	6,464	1,117
Financing Activities
Purchase of treasury shares	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Stock option exercises, related tax benefits and other	0	0
Payments of Debt Issuance Costs		0
Cash dividend	0	0
Intercompany Loan Activity	0	0
Intercompany Capital Contribution	(6,464)	(1,117)
Cash (used in) provided by financing activities	(6,464)	(1,117)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents – beginning of period	0	0
Cash and cash equivalents – end of period	0	0
Eliminations | Line of Credit | Senior Credit Facility - Revolver
Financing Activities
Net borrowings (repayment) on debt	$ 0
Eliminations | Line of Credit | Senior Credit Facility - Term Loan
Financing Activities
Net borrowings (repayment) on debt		0
Proceeds from Long-term Lines of Credit		$ 0