Enerpac Tool (EPAC) 10-Q 1 Jul 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	May 31, 2019	Jun. 24, 2019	Aug. 31, 2018
Document Information [Line Items]
Entity Current Reporting Status	Yes
Entity Shell Company	false
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	ACTUANT CORP
Entity Central Index Key	0000006955
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		61,457,831
Entity Small Business	false
Entity Emerging Growth Company	false
Common Class A
Document Information [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.2		$ 0.2
Common Stock, Shares Authorized	168,000,000		168,000,000
Common Stock, Shares, Issued	81,879,004		81,423,584

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Sales	$ 295,266	$ 317,096	$ 859,704	$ 881,216
Cost of products sold	183,365	200,587	545,309	574,100
Gross profit	111,901	116,509	314,395	307,116
Selling, administrative and engineering expenses	69,612	77,463	213,548	220,228
Amortization of intangible assets	4,411	5,184	12,131	15,483
Restructuring Charges	1,115	1,170	1,578	11,249
Impairment & divestiture charges	(10,597)	0	32,741	2,987
Operating profit	47,360	32,692	54,397	57,169
Financing costs, net	7,255	7,756	21,703	22,874
Other expense (income), net	378	(81)	1,946	830
Earnings before income tax expense (benefit)	39,727	25,017	30,748	33,465
Income tax expense (benefit)	7,309	(3,995)	13,029	17,448
Net earnings	$ 32,418	$ 29,012	$ 17,719	$ 16,017
Earnings per share
Basic	$ 0.53	$ 0.48	$ 0.29	$ 0.27
Diluted	$ 0.52	$ 0.48	$ 0.29	$ 0.26
Weighted average common shares outstanding
Basic	61,422	60,683	61,232	60,291
Diluted	61,840	61,064	61,701	60,850

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 32,418	$ 29,012	$ 17,719	$ 16,017
Other comprehensive income, net of tax
Foreign currency translation adjustments	(14,000)	(21,295)	(14,744)	(5,160)
Foreign currency translation due to divested business	0	0	34,910	67,645
Pension and other postretirement benefit plans	200	342	527	596
Total other comprehensive (loss) income, net of tax	(13,800)	(20,953)	20,693	63,081
Comprehensive income	$ 18,618	$ 8,059	$ 38,412	$ 79,098

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Current assets
Cash and cash equivalents	$ 201,334	$ 250,490
Accounts receivable, net	202,808	187,749
Inventories, net	167,592	156,356
Assets held for sale	0	23,573
Other current assets	44,475	42,732
Total current assets	616,209	660,900
Property, plant and equipment, net	89,973	90,220
Goodwill	491,499	512,412
Other intangibles, net	158,182	181,037
Other long-term assets	37,293	36,769
Total assets	1,393,156	1,481,338
Current liabilities
Trade accounts payable	126,145	130,838
Accrued compensation and benefits	39,929	54,508
Current maturities of debt	6,250	30,000
Income taxes payable	8,762	4,091
Liabilities held for sale	0	44,225
Other current liabilities	52,477	67,299
Total current liabilities	233,563	330,961
Long-term debt, net	468,984	502,695
Deferred income taxes	21,101	21,933
Pension and postretirement benefit liabilities	14,275	14,869
Other long-term liabilities	47,809	52,168
Total liabilities	785,732	922,626
Shareholders’ equity
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 81,879,004 and 81,423,584 shares, respectively	16,374	16,285
Additional paid-in capital	177,584	167,448
Treasury stock, at cost, 20,439,434 shares	(617,731)	(617,731)
Retained earnings	1,184,749	1,166,955
Accumulated other comprehensive loss	(153,552)	(174,245)
Stock held in trust	(3,075)	(2,450)
Deferred compensation liability	3,075	2,450
Total shareholders’ equity	607,424	558,712
Total liabilities and shareholders’ equity	$ 1,393,156	$ 1,481,338

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	May 31, 2019	Aug. 31, 2018
Treasury Stock, Shares	20,439,434	20,439,434
Common Class A
Common Stock, Shares Authorized	168,000,000	168,000,000
Common Stock, Shares, Issued	81,879,004	81,423,584

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May 31, 2019	May 31, 2018
Operating Activities
Net earnings	$ 17,719	$ 16,017
Adjustments to reconcile net earnings to net cash provided by operating activities:
Impairment & divestiture charges, net of tax	29,362	12,385
Depreciation and amortization	25,604	30,800
Stock-based compensation expense	10,253	11,951
Benefit for deferred income taxes	(2,129)	(10,579)
Amortization of debt issuance costs	884	1,239
Other non-cash adjustments	262	347
Changes in components of working capital and other, excluding acquisitions and divestitures
Accounts receivable	(25,043)	(21,456)
Inventories	(22,662)	(22,590)
Trade accounts payable	(1,367)	5,162
Prepaid expenses and other assets	(4,029)	(13,692)
Income tax accounts	4,412	25,989
Accrued compensation and benefits	(13,817)	(2,181)
Other accrued liabilities	(18,258)	2,197
Cash provided by operating activities	1,191	35,589
Investing Activities
Capital expenditures	(23,719)	(18,716)
Proceeds from sale of property, plant and equipment	1,349	148
Rental asset buyout for Viking divestiture	0	(27,718)
Proceeds from sale of business, net of transaction costs	36,159	8,780
Cash paid for business acquisitions, net of cash acquired	0	(22,326)
Cash provided by (used in) investing activities	13,789	(59,832)
Financing Activities
Principal repayments on term loan	(57,500)	(22,500)
Payment for redemption of term loan	(200,000)	0
Proceeds from issuance of term loan	200,000	0
Payments of debt issuance costs	(2,125)	0
Stock option exercises and other	1,352	10,435
Taxes paid related to the net share settlement of equity awards	(1,811)	(1,279)
Cash dividend	(2,439)	(2,390)
Cash used in financing activities	(62,523)	(15,734)
Effect of exchange rate changes on cash	(1,613)	(104)
Net decrease in cash and cash equivalents	(49,156)	(40,081)
Cash and cash equivalents - beginning of period	250,490	229,571
Cash and cash equivalents - end of period	$ 201,334	$ 189,490

Basis of Presentation

Basis of Presentation	9 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation General The accompanying unaudited condensed consolidated financial statements of Actuant Corporation (“Actuant,” or the “Company”) have been prepared in accordance with United States generally accepted accounting principles ("GAAP") 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 GAAP for complete financial statements. The condensed consolidated balance sheet data as of August 31, 2018 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes in the Company’s fiscal 2018 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, 2019 are not necessarily indicative of the results that may be expected for the entire fiscal year ending August 31, 2019 . New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . Under ASU 2014-09 and subsequent updates included in ASU 2016-10, ASU 2016-12, ASU 2017-13 and ASU 2017-14 (collectively referred to as Accounting Standards Codification 606 “ASC 606”), an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects to receive 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 was adopted by the Company on September 1, 2018 using the modified retrospective method and was applied to contracts that were not completed or substantially complete as of September 1, 2018. Results for the reporting period beginning after September 1, 2018 are presented under ASC 606, while prior year amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting policy in accordance with ASC 605 Revenue Recognition . The Company reported a net increase to opening retained earnings of $0.1 million on September 1, 2018 as a result of the cumulative impact of adopting ASC 606. See Note 2, “Revenue Recognition,” for further discussion of the adoption of ASC 606. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. The new guidance requires the service cost component of net periodic benefit cost to be presented in the same income statement line items as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost are to be stated separately from service cost and outside of operating income. This guidance was adopted by the Company on September 1, 2018. Due to a majority of the Company's defined benefit pension and other postretirement benefit plans being frozen and the net periodic benefit pension cost not being significant, the adoption of this guidance did not have a material impact on the financial statements of the Company. However, prior year amounts have been retrospectively adjusted to reflect this change in accounting principle. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments , to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This guidance was adopted on September 1, 2018. The adoption did not have an impact on the financial statements of the Company. In February 2016, the FASB issued ASU 2016-02, Leases (and subsequently ASU 2018-01 and ASU 2019-01) , 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 beginning September 1, 2019 for the Company), including interim periods within those fiscal years. Upon adoption, certain qualitative and quantitative disclosures are required along with modified retrospective recognition and measurement of impacted leases. The Company anticipates material additions to the balance sheet (upon adoption) of right-of-use assets, offset by the associated liabilities, due to our routine use of operating leases. Currently, the Company's implementation team is analyzing and uploading lease data into the selected third party lease software solution and performing configuration testing within the test environment. The software will be a central repository for active leases and provide the necessary information in order to comply with the standard. The team is also re-assessing and amending current processes and controls in order to comply with the standard, and finalizing our selection of practical expedients associated with the standard. In line with its implementation plan, the Company expects all configuration and testing of the lease software and the majority of the lease data entry to be finalized shortly allowing for a "go-live" of the software in July 2019. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows companies to reclassify stranded income tax effects resulting from the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings in their consolidated financial statements. This guidance is effective for fiscal years beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years. The Company is currently evaluating the impact of this new standard and whether we will elect to reclassify the stranded income taxes. Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2019 August 31, 2018 Foreign currency translation adjustments $ 138,331 $ 158,497 Pension and other postretirement benefit plans, net of tax 15,221 15,748 Accumulated other comprehensive loss $ 153,552 $ 174,245 Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2019 August 31, 2018 Land, buildings and improvements $ 42,772 $ 47,468 Machinery and equipment 235,993 229,445 Gross property, plant and equipment 278,765 276,913 Less: Accumulated depreciation (188,792 ) (186,693 ) Property, plant and equipment, net $ 89,973 $ 90,220

Revenue Recognition Revenue fro

Revenue Recognition Revenue from Contract Customers (Notes)	9 Months Ended
	May 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2. Revenue Recognition Significant Accounting Policies The Company recognizes revenue when it satisfies a performance obligation in a contract by transferring control of a distinct good or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation and revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. When contracts include multiple products or services to be delivered to the customer, the consideration for each element is generally allocated on the standalone transaction prices of the separate performance obligations, using the adjusted market assessment approach. Under normal circumstances, the Company invoices the customer once transfer of control has occurred and has a right to payment. The typical payment terms vary based on the customer and the types of goods and services in the contract. The period of time between invoicing and when payment is due is not significant, as our standard payment terms are less than one year. Amounts billed and due from customers are classified as receivables on the balance sheet. Taxes Collected: Taxes collected by the Company from a customer concurrent with revenue-producing activities are excluded from revenue. Shipping and Handling Costs: The Company records costs associated with shipping its products after control over a product has transferred to a customer and are accounted for as fulfillment costs. These costs are reported in the Condensed Consolidated Statements of Earnings in "Cost of products sold." Nature of Goods and Services The Company generates its revenue under two principal activities, which are discussed below: Product Sales: Sales of tools, components and systems are recorded when control is transferred to the customer (i.e. performance obligation has been satisfied). For the majority of the Company’s product sales, revenue is recognized at a point in time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company to the customer. Due to the highly customized nature and limited alternative use of certain products, for which the Company has an enforceable right of reimbursement for performance completed to date, revenue is recognized over time. We consider the input measure (efforts-expended or cost-to-cost) or output measure as a fair measure of progress for the recognition of over time revenue associated with these custom products. For a majority of the Company’s custom products, machine hours and labor hours (efforts-expended measurement) are used as a measure of progress. Service & Rental Sales : Service contracts consist of providing highly trained technicians to perform bolting, technical services, machining and joint integrity work for our customers. These revenues are recognized over time as our customers simultaneously receive and consume the benefits provided by the Company. We consider the input measure (efforts-expended or cost-to-cost) or output measure as a fair measure of progress for the recognition of over time revenue associated with service contracts. For a majority of the Company’s service contracts, labor hours (efforts-expended measurement) is used as the measure of progress when it is determined to be a better depiction of the transfer of control to the customer due to the timing and pattern of labor hours incurred. Revenue from rental contracts (less than a year and non-customized products) is generally recognized ratably over the contract term, depicting the customer’s consumption of the benefit related to the rental equipment. The majority of the Company’s service and rental sales are generated by its Industrial Tools & Services (“IT&S”) segment, with a limited number of service sales within the Engineered Components & Systems (“EC&S”) segment. Disaggregated Revenue and Performance Obligations The Company disaggregates revenue from contracts with customers by reportable segment and product line and by the timing of when goods and services are transferred. The following table presents information regarding our revenue disaggregation by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, Net Sales by Reportable Product Line & Segment: 2019 2019 Industrial Tools & Services Product $ 115,067 $ 323,420 Service & Rental 51,665 141,488 166,732 464,908 Engineered Components & Systems (1) On-Highway $ 59,378 $ 174,982 Agriculture, Off-Highway and Other 57,793 164,125 Rope & Cable Solutions 11,363 38,915 Concrete Tensioning — 16,774 128,534 394,796 Total $ 295,266 $ 859,704 (1) The majority of the EC&S segment revenues are product sales, with an immaterial number of service sales. The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2019 Revenues recognized at point in time $ 234,346 $ 696,347 Revenues recognized over time 60,920 163,357 Total $ 295,266 $ 859,704 Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2019 August 31, 2018 Receivables, which are included in accounts receivable, net $ 202,808 $ 187,749 Contract assets, which are included in other current assets 6,134 6,367 Contract liabilities, which are included in other current liabilities 8,227 16,484 Receivables: The Company performs its obligations under a contract with a customer by transferring goods or services in exchange for consideration from the customer. The Company typically invoices its customers as soon as control of an asset is transferred and a receivable for the Company is established. Contract Assets: Contract assets relate to the Company’s rights to consideration for work completed but not billed as of the reporting date on contracts with customers. The contract assets are transferred to receivables when the rights become unconditional. The Company has contract assets on contracts that are generally long-term and have revenues that are recognized over time. Contract Liabilities: As of May 31, 2019 , the Company had certain contracts where there were unsatisfied performance obligations and the Company had received cash consideration from customers before the performance obligations were satisfied . The majority of these contracts relate to long-term customer contracts (project durations of greater than three months) and are recognized over time. The Company estimates that $8.1 million will be recognized from satisfying those performance obligations within the next twelve months with an immaterial amount recognized in periods thereafter. Significant Judgments Timing of Performance Obligations Satisfied at a Point in Time: The Company evaluates when the customer obtains control of the product based on shipping terms, as control will transfer, depending upon such terms, at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because (i) the Company has a present right to payment at that time; (ii) the legal title has been transferred to the customer; (iii) the Company has transferred physical possession of the product to the customer; and (iv) the customer has significant risks and rewards of ownership of the product. Variable Consideration: The Company estimates whether it will be subject to variable consideration under the terms of the contract and includes its estimate of variable consideration in the transaction price based on the expected value method when it is deemed probable of being realized based on historical experience and trends. Types of variable consideration may include rebates, incentives and discounts, among others, which are recorded as a reduction to net sales at the time when control of a performance obligation is transferred to the customer. Practical Expedients & Exemptions: The Company elected to expense the incremental cost to obtaining a contract for when the amortization period for such contracts would be one year or less. The Company does not disclose the value of unperformed obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed.

Restructuring Charges (Notes)

Restructuring Charges (Notes) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	May 31, 2018	May 31, 2019	May 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]		Note 3. Restructuring Charges The Company has undertaken or committed to various restructuring initiatives including workforce reductions; leadership changes; 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. Liabilities for severance will generally be paid within twelve months, while future lease payments related to facilities vacated as a result of restructuring will be paid over the underlying remaining lease terms. During the three months ended May 31, 2019 , the Company announced a new restructuring plan focused on the integration of the Enerpac and Hydratight businesses (IT&S segment) as well as driving efficiencies within the overall corporate structure. Total restructuring charges associated with this new restructuring plan were $1.1 million in the three months ended May 31, 2019 , with no additional charges associated with the previously announced restructuring initiatives. Total restructuring charges associated with previously announced restructuring initiatives were $1.2 million in the three months ended May 31, 2018 . Restructuring charges totaled $1.6 million and $12.1 million for the nine months ended May 31, 2019 and 2018 , respectively, with approximately $0.9 million of the restructuring charges recognized in the nine months ended May 31, 2018 being reported in the Condensed Consolidated Statements of Earnings in "Cost of products sold," with the balance of the charges reported in "Restructuring charges." The following rollforwards summarize restructuring reserve activity by segment (in thousands): Nine Months Ended May 31, 2019 Industrial Tools & Services Engineered Components & Systems Corporate Total Balance as of August 31, 2018 $ 1,687 $ 1,592 $ 415 $ 3,694 Restructuring charges 1,136 442 — 1,578 Cash payments (1,379 ) (1,140 ) (46 ) (2,565 ) Other non-cash uses/reclasses of reserve (7 ) 368 (369 ) (8 ) Impact of changes in foreign currency rates (28 ) (58 ) — (86 ) Balance as of May 31, 2019 $ 1,409 $ 1,204 $ — $ 2,613 Nine Months Ended May 31, 2018 Industrial Tools & Services Engineered Components & Systems Corporate Total Balance as of August 31, 2017 $ 1,499 $ 4,108 $ 30 $ 5,637 Restructuring charges 3,480 3,783 4,836 12,099 Cash payments (2,578 ) (3,799 ) (2,160 ) (8,537 ) Other non-cash uses of reserve (616 ) (1,382 ) (2,093 ) (1) (4,091 ) Impact of changes in foreign currency rates (79 ) (95 ) — (174 ) Balance as of May 31, 2018 $ 1,706 $ 2,615 $ 613 $ 4,934 (1) Majority of non-cash uses of reserve represents accelerated equity vesting in connection with employee severance agreements. In June 2019, the Company announced a new restructuring plan focused on reducing costs and driving efficiencies within the EC&S segment. We expect to incur $2.0 million of costs in the fourth quarter associated with these actions and achieve approximately $3.0 million of annual savings.
Restructuring Charges, including recorded in Cost of Product Sold	$ 1,186		$ 12,099
Restructuring costs recorded in cost of products sold			$ 900

Acquisitions

Acquisitions	9 Months Ended
	May 31, 2019
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 4. Acquisitions During fiscal 2018, the Company completed two acquisitions which resulted in the recognition of goodwill in the Company’s condensed consolidated financial statements because their purchase prices reflected the future earnings and cash flow potential of the acquired companies, as well as the complementary strategic fit and resulting synergies. The Company makes an initial allocation of the purchase price, at the date of acquisition, based upon the fair value of the acquired assets and assumed liabilities. The Company obtains this information during due diligence and through other sources. If additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), the Company will refine its estimates of fair value and adjust the purchase price allocation as appropriate. The Company acquired the stock and certain assets of Mirage Machines, Ltd. ("Mirage") on December 1, 2017 for a purchase price of $17.4 million , net of cash acquired. This IT&S segment tuck-in acquisition is a provider of industrial and energy maintenance tools. The final purchase price allocation resulted in $10.3 million of goodwill (which is not deductible for tax purposes) and $4.1 million of intangible assets. The intangible assets were comprised of $2.3 million of indefinite lived tradenames and $1.8 million of amortizable customer relationships. The Company acquired the stock of Equalizer International, Limited ("Equalizer") on May 11, 2018 for a purchase price of $5.8 million , net of cash acquired. This IT&S segment tuck-in acquisition is a provider of industrial and energy maintenance tools, expanding our pipe and flange alignment offerings. The final purchase price allocation resulted in $2.4 million of goodwill (a portion of which is not deductible for tax purposes) and $2.1 million of intangible assets. The intangible assets were comprised of $0.8 million of indefinite lived tradenames and $1.3 million of amortizable customer relationships and patents. The Company incurred acquisition transaction costs of $0.3 million and $0.7 million in the three and nine months ended May 31, 2018 , respectively, (included in "Selling, administrative and engineering expenses" in the Condensed Consolidated Statements of Earnings) related to these acquisitions. The acquired businesses generated combined net sales of $3.4 million and $10.3 million for the three and nine months ended May 31, 2019 , respectively. Combined net sales for the three and nine months ended May 31, 2018 were $3.1 million and $5.1 million , respectively. Because the net sales and earnings impact of both acquired businesses are not material to the three and nine months ended May 31, 2019 and 2018, the Company has not included the pro forma operating result disclosures otherwise required for acquisitions.

Divestiture Activities Divestit

Divestiture Activities Divestiture Activities (Notes)	9 Months Ended
	May 31, 2019
Divestiture Activities [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 5. Divestiture Activities During the fourth quarter of fiscal 2018, the Cortland Fibron business (EC&S segment) met the criteria for assets held for sale treatment. The Company completed the sale of the Cortland Fibron business on December 19, 2018 for $12.5 million in cash. The following is a summary of the assets and liabilities held for sale for the Cortland Fibron business (in thousands): August 31, 2018 Accounts receivable, net $ 2,924 Inventories, net 2,597 Other current assets 3,267 Property, plant & equipment, net 2,186 Goodwill and other intangible assets, net 12,464 Other long-term assets 135 Assets held for sale $ 23,573 Trade accounts payable $ 3,915 Accrued compensation and benefits 1,414 Reserve for cumulative translation adjustment 35,346 Other current liabilities 1,269 Deferred income taxes 2,281 Other long-term liabilities — Liabilities held for sale $ 44,225 During the first quarter of fiscal 2019, the Company determined that the Precision Hayes business (EC&S segment) was a non-core asset, did not align with the strategic objectives of the Company and, as a result, the Company committed to a plan to sell this business. The Company completed the sale of the Precision Hayes business on December 31, 2018 for $23.6 million cash net of final transaction costs, working capital adjustments, accelerated vesting of equity compensation, retention bonuses and other adjustments which were recognized in the second quarter of fiscal 2019. The historical results of the Precision Hayes and Cortland Fibron businesses are not material to the condensed consolidated financial results of the Company and are included in continuing operations. The Precision Hayes and Cortland Fibron businesses had combined net sales of $21.7 million in the three months ended May 31, 2018 and $24.2 million and $55.1 million in the nine months ended May 31, 2019 and 2018, respectively. We could incur immaterial additional divestiture charges relative to the final settlement of net asset disposal groups for the Precision Hayes divestiture. In addition to the above, in the first quarter of fiscal 2019 we identified the Cortland U.S business (EC&S segment as a non-core asset and concluded it met the criteria to be recorded as held for sale. We engaged a third party mergers and acquisitions adviser to assist with valuation and marketing efforts in order to identify potential buyers of the Cortland U.S. business. However, after a robust marketing campaign to divest the business, the Company has decided to retain the business and continue to execute its strategy to provide industrial rope to a wider variety of customers through the Company's other channels and to invest and grow in Cortland's medical component business, thereby maximizing shareholder value. Therefore, as of May 31, 2019, we no longer consider the Cortland U.S. business to meet the criteria to be classified as held for sale. All depreciation and amortization that was not recorded while the business was classified as held for sale was subsequently recorded in the three months ended May 31, 2019, and the assets and liabilities have now been restored to their original condensed consolidated balance sheet classifications at their historical net book values as of May 31, 2019. As a result of the restoration of assets and liabilities to their net book value, we recorded a benefit of $13.0 million in the three months ended May 31, 2019 related to the restoration of the cumulative effect of foreign currency rate changes since acquisition that had been recorded as impairment & divestiture charges in previous periods in fiscal 2019. On January 24, 2019, the Company announced its intention to focus solely on its IT&S segment, and as a result, initiated a process to potentially divest the remaining EC&S segment (exclusive of the Cortland U.S. businesses). The divestiture process continues, but the Company concluded that the remaining EC&S segment did not meet the criteria to be classified as held for sale as of May 31, 2019. The Company performed various impairment assessments as of May 31, 2019 contemplating the current status to divest the remaining EC&S segment and also considering results of operations and estimated future cash flows of the business as held for future use. Based on those assessments, no impairment charges were recorded in the three months ended May 31, 2019. Material non-cash impairment charges reflecting a write down of the remaining EC&S segment net assets to their net realizable value could be recorded in future periods. The Company intends to comment on, or provide updates regarding, these matters (including the status of the divestiture or size of impairment) only when it determines that further disclosure is appropriate or required. In the three months ended May 31, 2019, the Company recognized an impairment & divestiture benefit of $10.6 million , comprised of: (i) a $13.0 million benefit related to the Cortland U.S. business representing the restoration of the cumulative effect of foreign currency rate changes since acquisition that had been recorded as impairment & divestiture charges in previous periods in fiscal 2019 and (ii) $2.4 million of other divestiture charges (of which $0.8 million related to retention bonuses) related to the divestiture of the remaining EC&S segment. These charges generated an income tax benefit of $0.6 million in the three months ended May 31, 2019. For the nine months ended May 31, 2019, the Company has recognized $32.7 million of impairment & divestiture charges, comprised of: (i) a $24.6 million charge representing the excess of the net book value of assets held for sale to the proceeds; (ii) a non-cash impairment charge of $0.6 million related to the recognition in earnings of the cumulative effect of foreign currency rate changes since acquisition and (iii) $7.5 million of other divestiture charges. These charges generated an income tax benefit of $3.4 million for the nine months ended May 31, 2019. On December 1, 2017, the Company completed the sale of the Viking business for net cash proceeds of $8.8 million , which resulted in an after-tax impairment & divestiture charge of $12.4 million in the second quarter of fiscal 2018, comprised of real estate lease exit charges of $3.0 million related to retained facilities that became vacant as a result of the Viking divestiture and approximately $9.4 million of associated discrete income tax expense. The historical results of the Viking business (which had net sales of $2.7 million in the nine months ended May 31, 2018 ) are not material to the condensed consolidated financial results and are included in continuing operations. As part of our portfolio management process, we routinely review our businesses with respect to our strategic initiatives and long-term objectives and are taking actions that are anticipated to improve the operational performance of the Company. The aforementioned divestitures and any potential future divestitures pose risks and challenges that could negatively impact our business, including required separation or carve-out activities and costs, disputes with buyers or potential impairment charges.
Schedule of Assets and Liabilities Held for Sale [Table Text Block]	The following is a summary of the assets and liabilities held for sale for the Cortland Fibron business (in thousands): August 31, 2018 Accounts receivable, net $ 2,924 Inventories, net 2,597 Other current assets 3,267 Property, plant & equipment, net 2,186 Goodwill and other intangible assets, net 12,464 Other long-term assets 135 Assets held for sale $ 23,573 Trade accounts payable $ 3,915 Accrued compensation and benefits 1,414 Reserve for cumulative translation adjustment 35,346 Other current liabilities 1,269 Deferred income taxes 2,281 Other long-term liabilities — Liabilities held for sale $ 44,225

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	May 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill, Intangible Assets and Long-Lived Assets Changes in the gross carrying value of goodwill and intangible assets can result from changes in foreign currency exchange rates, business acquisitions, divestitures or impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2019 are as follows (in thousands): Industrial Tools & Services Engineered Components & Systems Total Balance as of August 31, 2018 $ 248,705 $ 263,707 $ 512,412 Purchase accounting adjustments 253 — 253 Impairment charges — (13,678 ) (13,678 ) Impact of changes in foreign currency rates (3,239 ) (4,249 ) (7,488 ) Balance as of May 31, 2019 $ 245,719 $ 245,780 $ 491,499 The gross carrying value and accumulated amortization of the Company’s other intangible assets are as follows (in thousands): May 31, 2019 August 31, 2018 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 15 $ 217,539 $ 149,742 $ 67,797 $ 230,601 $ 147,451 $ 83,150 Patents 11 25,097 23,371 1,726 30,355 25,327 5,028 Trademarks and tradenames 14 7,254 5,284 1,970 20,823 15,347 5,476 Other intangibles 3 5,571 5,571 — 5,946 5,816 130 Indefinite lived intangible assets: Tradenames N/A 86,689 — 86,689 87,253 — 87,253 $ 342,150 $ 183,968 $ 158,182 $ 374,978 $ 193,941 $ 181,037 The Company estimates that amortization expense will be $3.8 million for the remaining three months of fiscal 2019 . Amortization expense for future years is estimated to be: $14.9 million in fiscal 2020 , $14.1 million in fiscal 2021 , $12.5 million in fiscal 2022 , $9.6 million in fiscal 2023 , $6.9 million in fiscal 2024 and $9.6 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures or changes in foreign currency exchange rates, among other causes. Fiscal 2019 Impairment Charges During the nine month period ended May 31, 2019, within the EC&S segment, the Company recognized impairment charges related to the Precision Hayes and Cortland U.S. businesses in conjunction with meeting the criteria for assets classified as held for sale which resulted in a change in our current estimated fair value. Also, the Company recognized an additional impairment charge related to the Cortland Fibron business based on a change in the anticipated sales proceeds. Accordingly, we recognized $24.6 million of impairment charges for the nine months ended May 31, 2019. The Company did not record any impairment charges associated with goodwill, intangible assets, and long-lived assets during the three month period ended May 31, 2019. See Note 5, “Divestiture Activities,” for further discussion of impairment & divestiture charges. A summary of impairment charges by reporting unit for the nine months ended May 31, 2019 is as follows (in thousands): Cortland (1) Precision Hayes Total Goodwill $ 13,709 $ — $ 13,709 Amortizable intangible assets — 8,264 8,264 Assets held for sale 1,477 — 1,477 Fixed assets — 1,230 1,230 Total $ 15,185 $ 9,494 $ 24,679 (1) The Cortland reporting unit is representative of the Cortland U.S. and Cortland Fibron businesses. The goodwill impairment charge related to the Cortland U.S. business for the six months ended February 28, 2019 and the assets held for sale impairment charge related to Cortland Fibron for the three months ended November 30, 2019.

Product Warranty Costs

Product Warranty Costs	9 Months Ended
	May 31, 2019
Guarantees [Abstract]
Product Warranty Costs	Note 7. Product Warranty Costs The Company generally offers its customers an assurance warranty on products sold, although warranty periods vary by product type and application. The reserve for future warranty claims, which is recorded within the "Other current liabilities" line on the Condensed Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following is a rollforward of the product warranty reserves for the nine months ended May 31, 2019 and 2018 , respectively (in thousands): Nine Months Ended May 31, 2019 2018 Beginning balance $ 4,417 $ 6,616 Provision for warranties 3,427 4,213 Warranty payments and costs incurred (3,630 ) (5,604 ) Warranty activity for divested businesses (34 ) — Impact of changes in foreign currency rates (54 ) 95 Ending balance $ 4,126 $ 5,320

Debt

Debt	9 Months Ended
	May 31, 2019
Debt Disclosure [Abstract]
Debt	Note 8. Debt The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2019 August 31, 2018 Previous Senior Credit Facility Revolver $ — $ — Term Loan — 247,500 Total Previous Senior Credit Facility — 247,500 New Senior Credit Facility Revolver — — Term Loan 190,000 — Total New Senior Credit Facility 190,000 — 5.625% Senior Notes 287,559 287,559 Total Senior Indebtedness 477,559 535,059 Less: Current maturities of long-term debt (6,250 ) (30,000 ) Debt issuance costs (2,325 ) (2,364 ) Total long-term debt, less current maturities $ 468,984 $ 502,695 Senior Credit Facility Prior to the refinancing of the Company's Senior Credit Facility on March 29, 2019, the Company’s previous Senior Credit Facility matured on May 8, 2020 and provided a $300 million revolver, a $300 million term loan and a $450 million expansion option, subject to certain conditions. Borrowings were subject to a pricing grid, which could result in increases or decreases to the borrowing spread, depending on the Company’s leverage ratio, ranging from a spread of 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. In addition, a non-use fee was payable quarterly on the average unused credit line under the revolver ranging from 0.15% to 0.35% per annum. On March 29, 2019, the Company refinanced its Senior Credit Facility resulting in a new $600 million Senior Credit Facility, comprised of a $400 million revolving line of credit and a $200 million term loan. The new facility, which matures in March 2024, includes a reduction in pricing, bears an initial interest rate of LIBOR + 1.62% , and expands the revolving credit facility from $300 million to $400 million . Quarterly term loan principal payments of $1.25 million begin on August 31, 2019 , escalating to $5.0 million by May 31, 2022 , with the remaining principal due at maturity. During the three months ended May 31, 2019 and in line with its capital allocation strategy, the Company electively prepaid $10 million against the remaining principal balance of the term loan. The new credit facility contains financial covenants that are consistent with the prior facility, with enhancements that improve overall liquidity, and provides the option for future expansion through a $300 million accordion on the revolver. The two financial covenants included are a maximum leverage ratio of 3.75 :1 and a minimum interest coverage ratio of 3.5 :1. For each covenant, certain transactions lead to adjustments to the underlying ratio, including a reduction of the minimum interest coverage ratio from 3.5 to 3.0 for any fiscal quarter ending within twelve months after the sale of the remaining EC&S business and an increase to the leverage ratio from 3.75 to 4.25 during the four fiscal quarters after a significant acquisition. The Company was in compliance with all financial covenants at May 31, 2019 . Borrowings under the credit agreement are secured by substantially all personal property assets of the Company and its domestic subsidiary guarantors and certain equity interests owned by the foreign law pledgors. As of May 31, 2019 , the variable borrowing rate on the outstanding term loan balance was 4.07% and the unused credit line and amount available for borrowing under the revolver was $398.8 million . Senior Notes On April 16, 2012 , the Company issued $300 million of 5.625% Senior Notes due 2022 (the “Senior Notes”), of which $287.6 million remains outstanding. 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 (currently ranging from 100.00% to 101.88% ), plus accrued and unpaid interest. The Company was in compliance with all the terms of the Senior Notes at May 31, 2019 .

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	May 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 9. 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 unadjusted 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, accounts receivable, accounts payable and variable rate long-term debt approximated book value at both May 31, 2019 and August 31, 2018 due to their short-term nature and the fact that the interest rates approximated market rates. Foreign currency exchange contracts are recorded at fair value. The fair value of the Company's foreign currency exchange contracts was a net asset of $0.1 million and $0.4 million at May 31, 2019 and August 31, 2018 , respectively. The fair value of the foreign currency exchange contracts was based on quoted inactive market prices and is therefore classified as Level 2 within the valuation hierarchy. The fair value of the Company’s outstanding Senior Notes was $290.1 million and $293.5 million at May 31, 2019 and August 31, 2018 , 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, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Note 10. Derivatives All derivatives are recognized in the balance sheet at their estimated fair value. On the date the Company enters into a derivative contract, it 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 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 utilizes foreign currency exchange contracts to reduce the exchange rate risk associated with recognized non-functional currency balances. The effects of changes in exchange rates are reflected concurrently in earnings for both the fair value of the foreign currency exchange contracts and the related non-functional currency asset or liability. 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) expense in the Condensed Consolidated Statements of Earnings). The U.S. dollar equivalent notional value of these short duration foreign currency exchange contracts (fair value hedges or non-designated hedges) was $21.5 million and $17.0 million at May 31, 2019 and August 31, 2018 , respectively. The fair value of outstanding foreign currency exchange contracts was a net asset of $0.1 million and $0.4 million at May 31, 2019 and August 31, 2018 , respectively. Net foreign currency gain (loss) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Foreign currency (loss) gain, net $ (90 ) $ 524 $ 577 $ 664

Capital Stock and Share Repurch

Capital Stock and Share Repurchase	9 Months Ended
	May 31, 2019
Earnings Per Share [Abstract]
Capital Stock and Share Repurchase	Note 11. Earnings per Share and Shareholders' Equity The Company's Board of Directors authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 20,439,434 shares of common stock for $617.7 million . As of May 31, 2019 , the maximum number of shares that may yet be purchased under the programs is 7,560,566 shares. There were no share repurchases in the three and nine months ended May 31, 2019 . The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Numerator: Net earnings $ 32,418 $ 29,012 $ 17,719 $ 16,017 Denominator: Weighted average common shares outstanding - basic 61,422 60,683 61,232 60,291 Net effect of dilutive securities - stock based compensation plans 418 381 469 559 Weighted average common shares outstanding - diluted 61,840 61,064 61,701 60,850 Basic earnings per share $ 0.53 $ 0.48 $ 0.29 $ 0.27 Diluted earnings per share $ 0.52 $ 0.48 $ 0.29 $ 0.26 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 987 1,788 1,164 2,338 The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2019 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 28, 2019 81,832 $ 16,364 $ 174,418 $ (617,731 ) $ 1,152,331 $ (139,752 ) $ (2,989 ) $ 2,989 $ 585,630 Net earnings — — — — 32,418 — — — 32,418 Other comprehensive loss, net of tax — — — — — (13,800 ) — — (13,800 ) Stock contribution to employee benefit plans and other 5 1 114 — — — — — 115 Restricted stock awards 28 6 (6 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 3,091 — — — — — 3,091 Stock option exercises 10 2 204 — — — — — 206 Tax effect of stock option exercises and restricted stock vesting — — (322 ) — — — — — (322 ) Stock issued to, acquired for and distributed from rabbi trust 5 1 85 — — — (86 ) 86 86 Balance at May 31, 2019 81,880 $ 16,374 $ 177,584 $ (617,731 ) $ 1,184,749 $ (153,552 ) $ (3,075 ) $ 3,075 $ 607,424 The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2018 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 28, 2018 81,088 $ 16,218 $ 155,974 $ (617,731 ) $ 1,178,047 $ (143,227 ) $ (2,848 ) $ 2,848 $ 589,281 Net earnings — — — — 29,012 — — — 29,012 Other comprehensive loss, net of tax — — — — — (20,953 ) 254 (254 ) (20,953 ) Stock contribution to employee benefit plans and other 5 1 129 — — — — — 130 Restricted stock awards 43 8 (8 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 3,659 — — — — — 3,659 Stock option exercises — — — — — — — — — Tax effect of stock option exercises and restricted stock vesting — — (171 ) — — — — — (171 ) Stock issued to, acquired for and distributed from rabbi trust — — 70 — — — — — 70 Balance at May 31, 2018 81,136 $ 16,227 $ 159,653 $ (617,731 ) $ 1,207,059 $ (164,180 ) $ (2,594 ) $ 2,594 $ 601,028 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2019 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2018 81,424 $ 16,285 $ 167,448 $ (617,731 ) $ 1,166,955 $ (174,245 ) $ (2,450 ) $ 2,450 $ 558,712 Net earnings — — — — 17,719 — — — 17,719 Other comprehensive income, net of tax — — — — — 20,693 — — 20,693 Stock contribution to employee benefit plans and other 15 3 356 — — — — — 359 Restricted stock awards 366 71 (71 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 10,253 — — — — — 10,253 Stock option exercises 45 9 984 — — — — — 993 Tax effect related to net share settlement of equity awards — — (1,811 ) — — — — — (1,811 ) Stock issued to, acquired for and distributed from rabbi trust 30 6 425 — — — (625 ) 625 431 Adoption of accounting standard — — — — 75 — — — 75 Balance at May 31, 2019 81,880 $ 16,374 $ 177,584 $ (617,731 ) $ 1,184,749 $ (153,552 ) $ (3,075 ) $ 3,075 $ 607,424 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2018 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2017 80,200 $ 16,040 $ 138,449 $ (617,731 ) $ 1,191,042 $ (227,261 ) $ (2,696 ) $ 2,696 $ 500,539 Net earnings — — — — 16,017 — — — 16,017 Other comprehensive income, net of tax — — — — — 63,081 254 (254 ) 63,081 Stock contribution to employee benefit plans and other 15 3 393 — — — — — 396 Restricted stock awards 395 79 (79 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 11,951 — — — — — 11,951 Stock option exercises 506 101 9,938 — — — — — 10,039 Tax effect related to net share settlement of equity awards — — (1,279 ) — — — — — (1,279 ) Stock issued to, acquired for and distributed from rabbi trust 20 4 280 — — — (152 ) 152 284 Adoption of accounting standard — — — — — — — — Balance at May 31, 2018 81,136 $ 16,227 $ 159,653 $ (617,731 ) $ 1,207,059 $ (164,180 ) $ (2,594 ) $ 2,594 $ 601,028

Income Taxes

Income Taxes	9 Months Ended
	May 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company's income tax expense (benefit) is impacted by a number of factors, including the amount of taxable earnings generated in foreign jurisdictions with tax rates that are different 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. Comparative earnings before income taxes, income tax expense (benefit) and effective income tax rates are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Earnings before income taxes $ 39,727 $ 25,017 $ 30,748 $ 33,465 Income tax expense (benefit) 7,309 (3,995 ) 13,029 17,448 Effective income tax rate 18.4 % (16.0 )% 42.4 % 52.1 % The Company’s income tax expense and effective tax rate for the three and nine months ended May 31, 2019 were impacted by the Tax Cuts and Jobs Act (the “Act”), which was enacted into law on December 22, 2017. The Act includes significant changes to the U.S. corporate income tax system which reduces the U.S. federal corporate income tax rate from 35% to 21% as of January 1, 2018; shifts to a modified territorial tax regime which requires companies to pay a transition tax on earnings of certain foreign subsidiaries that were previously deferred from U.S. income tax; and creates new minimum taxes on certain foreign-sourced earnings that were previously deferred from U.S. federal tax. New provisions under the Act are effective for the Company for fiscal 2019 and include the Global Intangible Low-Taxed Income (“GILTI”) provision, the Foreign-Derived Intangible Income (“FDII”) benefit, the Base Erosion Anti-Abuse Tax (“BEAT”), the limitation on interest expense deductions and certain executive compensation, and the elimination of U.S. tax on dividends received from certain foreign subsidiaries. The comparability of earnings before income taxes, income tax expense (benefit) and the related effective income tax rates are impacted by the Act as described above, along with impairment & divestiture charges. Results included impairment & divestiture (benefit) charges of $(10.6) million and $32.7 million ( $(11.2) million and $29.4 million after tax, respectively) for the three and nine months ended May 31, 2019 and impairment & divestiture charges of $3.0 million ( $12.4 million after tax) for the nine months ended May 31, 2018. Excluding the impairment & divestiture charges, the effective tax rate for the three and nine months ended May 31, 2019 was 10.9% and 25.8% , respectively. Excluding the impairment & divestiture charges, the effective tax rate for the three and nine months ended May 31, 2018 was (16.0)% and 22.1% , respectively. The income tax benefit without impairment & divestiture charges for the three months ended May 31, 2018 is significantly impacted by $13.0 million of provisional benefits associated with Act recorded in the third quarter which was partially offset with adjustments in the prior quarters of fiscal 2018, due in part, to changes to the Act during the year which results in a rate for the nine months ended May 31, 2019 and 2018 that is comparable. Additionally, both the current and prior year effective income tax rates were impacted by the proportion of earnings in foreign jurisdictions with income tax rates different than the U.S. federal income tax rate. The Company's estimated full-year fiscal 2019 and 2018 earnings before income taxes include approximately 70% of earnings from foreign jurisdictions which resulted in an effective tax rate of 3.0% to 4.0% higher than the current U.S. statutory rate of 21% .

Segment Information

Segment Information	9 Months Ended
	May 31, 2019
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information The Company is a global manufacturer of a broad range of industrial products and systems. The IT&S segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the industrial, maintenance, infrastructure, oil & gas, energy and other markets. The EC&S segment provides highly engineered components for on-highway, off-highway, agriculture, medical, concrete tensioning (divested December 31, 2018) and other vertical markets. All of the aforementioned markets are supported through our various segment product lines outlined below. The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Net Sales by Reportable Product Line & Segment Industrial Tools & Services Product $ 115,067 $ 115,722 $ 323,420 $ 322,143 Service & Rental 51,665 43,013 141,488 115,570 166,732 158,735 464,908 437,713 Engineered Components & Systems On-Highway 59,378 66,556 174,982 190,735 Agriculture, Off-Highway and Other 57,793 58,386 164,125 160,497 Rope & Cable Solutions 11,363 20,436 38,915 53,924 Concrete Tensioning — 12,983 16,774 35,601 Off Shore Mooring — — — 2,746 128,534 158,361 394,796 443,503 $ 295,266 $ 317,096 $ 859,704 $ 881,216 Operating Profit (Loss) Industrial Tools & Services $ 34,877 $ 31,658 $ 87,797 $ 71,458 Engineered Components & Systems (1) 19,556 9,641 (10,147 ) 9,228 General Corporate (7,073 ) (8,607 ) (23,253 ) (23,517 ) $ 47,360 $ 32,692 $ 54,397 $ 57,169 (1) EC&S segment operating loss includes impairment & divestiture (benefit) charges of $(10.6) million for the three months ended May 31, 2019 and $32.7 million for the nine months ended May 31, 2018. May 31, 2019 August 31, 2018 Assets: Industrial Tools & Services $ 609,690 $ 589,932 Engineered Components & Systems 588,756 657,370 General Corporate 194,710 234,036 $ 1,393,156 $ 1,481,338 In addition to the impact of foreign currency exchange rate changes, the comparability of segment and product line information is impacted by acquisition/divestiture activities, impairment & divestiture charges, restructuring costs and related benefits. 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, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Note 14. Commitments and Contingencies The Company had outstanding letters of credit of $17.5 million and $23.6 million at May 31, 2019 and August 31, 2018 , 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. These legal proceedings typically include product liability, breaches of contract, employment, personal injury 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 a loss has been incurred and can be reasonably estimated. In the opinion of management, resolution of these contingencies is not expected to 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 under leases of businesses that it previously divested or spun-off in the event that such businesses are unable to fulfill their future lease payment obligations. The discounted present value of future minimum lease payments for these leases at May 31, 2019 was $9.6 million using a weighted average discount rate of 2.43% . The Company has facilities in numerous geographic locations that are subject to 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. As previously disclosed in the Annual Report on Form 10-K for the year ended August 31, 2018, in October 2018, the Company filed a voluntary self-disclosure ("VSD") with the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) regarding transactions related to otherwise authorized sales of tools and other products totaling approximately $0.5 million by certain of its foreign subsidiaries to two Iranian distributors. It is possible that certain limited transactions relating to the authorized sales fell outside the scope of General License H under the Iranian Transaction and Sanctions Regulations, 31 C.F.R. Part 560. The VSD also included information about additional transactions by certain of the Company's Dutch subsidiaries with a counterparty in Estonia that may have been in violation of E.O. 13685, as certain sales of products and services may have been diverted to the Crimea region of Ukraine. OFAC is currently reviewing the Company’s disclosures to determine whether any violations of U.S. economic sanctions laws may have occurred and, if so, to determine the appropriate enforcement response. At this time, the Company cannot predict when OFAC will conclude its review of the VSD or the nature of its enforcement response. Additionally, the Company has self-disclosed the sales to its Estonian customer to relevant authorities in the Netherlands as potentially violating applicable sanctions laws in that country and the European Union. The investigation by authorities in the Netherlands is ongoing and also may result in penalties. At this time, the Company cannot predict when the investigation will be completed or reasonably estimate what penalties, if any, will be assessed. While there can be no assurance of the ultimate outcome of the above matters, the Company currently believes that there will be no material adverse effect on the Company's financial position, results of operations or cash flows.

Guarantor Subsidiaries

Guarantor Subsidiaries	9 Months Ended
	May 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Subsidiaries	Note 15. Guarantor Subsidiaries As discussed in Note 8, “Debt” on April 16, 2012 , Actuant Corporation (the “Parent”) issued $300.0 million of 5.625% Senior Notes, of which $287.6 million remains outstanding as of May 31, 2019 . Certain 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. Certain assets, liabilities and expenses have not been allocated to the Guarantors and the subsidiaries that do not guarantee the 5.625% Senior Notes (the "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. The following tables present the results of operations, financial position and cash flows of the Parent, the Guarantors and the non-Guarantors and the eliminations necessary to arrive at the information for the Company on a consolidated basis. As a result of the refinancing of the Senior Credit Facility in March 2019, certain domestic subsidiaries that were previously Guarantors of the Senior Notes are now non-Guarantors. As such, prior period financial information has been recast to reflect the current Parent, Guarantor, and non-Guarantor structure. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 42,915 $ 67,493 $ 184,858 $ — $ 295,266 Cost of products sold 11,238 45,853 126,274 — 183,365 Gross profit 31,677 21,640 58,584 — 111,901 Selling, administrative and engineering expenses 20,766 11,823 37,023 — 69,612 Amortization of intangible assets 318 1,532 2,561 — 4,411 Restructuring charges 574 205 336 — 1,115 Impairment & divestiture charges (benefit) — 876 (11,473 ) — (10,597 ) Operating profit 10,019 7,204 30,137 — 47,360 Financing costs, net 7,221 — 34 — 7,255 Intercompany (income) expense, net (2,627 ) 5,711 (3,084 ) — — Intercompany dividends (74,593 ) (39,208 ) — 113,801 — Other (income) expense, net (52 ) (14 ) 444 — 378 Earnings before income tax expense 80,070 40,715 32,743 (113,801 ) 39,727 Income tax expense 2,067 1,304 3,938 — 7,309 Net earnings before equity in (loss) earnings of subsidiaries 78,003 39,411 28,805 (113,801 ) 32,418 Equity in (loss) earnings of subsidiaries (45,585 ) 19,556 6,080 19,949 — Net earnings $ 32,418 $ 58,967 $ 34,885 $ (93,852 ) $ 32,418 Comprehensive income $ 18,618 $ 58,967 $ 21,141 $ (80,108 ) $ 18,618 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 41,851 $ 67,677 $ 207,568 $ — $ 317,096 Cost of products sold 6,394 46,823 147,370 — 200,587 Gross profit 35,457 20,854 60,198 — 116,509 Selling, administrative and engineering expenses 22,373 12,276 42,814 — 77,463 Amortization of intangible assets 318 1,582 3,284 — 5,184 Restructuring charges 661 215 294 — 1,170 Operating profit 12,105 6,781 13,806 — 32,692 Financing costs (income), net 7,847 — (91 ) — 7,756 Intercompany (income) expense, net (2,123 ) 9,272 (7,149 ) — — Other (income) expense, net (144 ) (25 ) 88 — (81 ) Earnings (loss) before income tax (benefit) expense 6,525 (2,466 ) 20,958 — 25,017 Income tax (benefit) expense (11,354 ) (193 ) 7,552 — (3,995 ) Net earnings (loss) before equity in earnings (loss) of subsidiaries 17,879 (2,273 ) 13,406 — 29,012 Equity in earnings (loss) of subsidiaries 11,133 (1,253 ) 638 (10,518 ) — Net earnings (loss) $ 29,012 $ (3,526 ) $ 14,044 $ (10,518 ) $ 29,012 Comprehensive income (loss) $ 8,059 $ (3,527 ) $ (7,523 ) $ 11,050 $ 8,059 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Nine Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 124,295 $ 189,752 $ 545,657 $ — $ 859,704 Cost of products sold 31,096 133,547 380,666 — 545,309 Gross profit 93,199 56,205 164,991 — 314,395 Selling, administrative and engineering expenses 64,346 35,888 113,314 — 213,548 Amortization of intangible assets 954 4,596 6,581 — 12,131 Restructuring charges 574 112 892 — 1,578 Impairment & divestiture (benefit) charges (904 ) 1,783 31,862 — 32,741 Operating profit 28,229 13,826 12,342 — 54,397 Financing costs (income), net 22,047 — (344 ) — 21,703 Intercompany (income) expense, net (12,797 ) 20,168 (7,371 ) — — Intercompany dividends (320,841 ) (39,208 ) — 360,049 — Other (income) expense, net (433 ) (20 ) 2,399 — 1,946 Earnings before income tax (benefit) expense 340,253 32,886 17,658 (360,049 ) 30,748 Income tax (benefit) expense (218 ) 289 12,958 — 13,029 Net earnings before equity in (loss) earnings of subsidiaries 340,471 32,597 4,700 (360,049 ) 17,719 Equity in (loss) earnings of subsidiaries (322,752 ) 9,150 8,901 304,701 — Net earnings $ 17,719 $ 41,747 $ 13,601 $ (55,348 ) $ 17,719 Comprehensive income $ 38,412 $ 41,747 $ 34,432 $ (76,179 ) $ 38,412 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Nine Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 113,780 $ 180,385 $ 587,051 $ — $ 881,216 Cost of products sold 19,205 129,964 424,931 — 574,100 Gross profit 94,575 50,421 162,120 — 307,116 Selling, administrative and engineering expenses 60,009 36,863 123,356 — 220,228 Amortization of intangible assets 954 4,746 9,783 — 15,483 Restructuring charges 6,211 634 4,404 11,249 Impairment & divestiture charges (benefit) 4,217 — (1,230 ) — 2,987 Operating profit 23,184 8,178 25,807 — 57,169 Financing costs (income), net 23,247 — (373 ) — 22,874 Intercompany (income) expense, net (11,987 ) 16,179 (4,192 ) — — Other expense, net 56 49 725 — 830 Earnings (loss) before income tax (benefit) expense 11,868 (8,050 ) 29,647 — 33,465 Income tax (benefit) expense (1,028 ) (1,087 ) 19,563 — 17,448 Net earnings (loss) before equity in earnings (loss) of subsidiaries 12,896 (6,963 ) 10,084 — 16,017 Equity in earnings (loss) of subsidiaries 3,121 (13,286 ) (1,550 ) 11,715 — Net earnings (loss) $ 16,017 $ (20,249 ) $ 8,534 $ 11,715 $ 16,017 Comprehensive income (loss) $ 79,098 $ (20,250 ) $ 73,445 $ (53,195 ) $ 79,098 CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 7,453 $ — $ 193,881 $ — $ 201,334 Accounts receivable, net 19,675 39,103 144,030 — 202,808 Inventories, net 28,842 40,665 98,085 — 167,592 Other current assets 11,006 2,506 30,963 — 44,475 Total current assets 66,976 82,274 466,959 — 616,209 Property, plant & equipment, net 7,557 16,286 66,130 — 89,973 Goodwill 38,847 178,097 274,555 — 491,499 Other intangibles, net 5,929 84,155 68,098 — 158,182 Investment in subsidiaries 1,630,936 1,028,078 374,724 (3,033,738 ) — Intercompany receivable — — 929,356 (929,356 ) — Other long-term assets 14,610 300 22,383 — 37,293 Total assets $ 1,764,855 $ 1,389,190 $ 2,202,205 $ (3,963,094 ) $ 1,393,156 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable 16,185 12,902 97,058 — 126,145 Accrued compensation and benefits 12,642 3,260 24,027 — 39,929 Current maturities of debt 6,250 — — — 6,250 Income taxes payable 1,013 — 7,749 — 8,762 Other current liabilities 18,786 4,493 29,198 — 52,477 Total current liabilities 54,876 20,655 158,032 — 233,563 Long-term debt 468,984 — — — 468,984 Deferred income taxes 2,533 13,360 5,208 — 21,101 Pension and post-retirement benefit liabilities 7,330 — 6,945 — 14,275 Other long-term liabilities 43,394 256 4,159 — 47,809 Intercompany payable 580,314 349,042 — (929,356 ) — Shareholders’ equity 607,424 1,005,877 2,027,861 (3,033,738 ) 607,424 Total liabilities and shareholders’ equity $ 1,764,855 $ 1,389,190 $ 2,202,205 $ (3,963,094 ) $ 1,393,156 CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) August 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 67,945 $ — $ 182,545 $ — $ 250,490 Accounts receivable, net 19,969 37,787 129,993 — 187,749 Inventories, net 22,646 35,840 97,870 — 156,356 Assets held for sale — — 23,573 — 23,573 Other current assets 7,359 2,542 32,831 — 42,732 Total current assets 117,919 76,169 466,812 — 660,900 Property, plant & equipment, net 7,937 14,635 67,648 — 90,220 Goodwill 38,847 178,097 295,468 — 512,412 Other intangible assets, net 6,884 88,752 85,401 — 181,037 Investment in subsidiaries 1,836,879 918,050 301,782 (3,056,711 ) — Intercompany receivables — — 937,259 (937,259 ) — Other long-term assets 12,955 366 23,448 — 36,769 Total assets $ 2,021,421 $ 1,276,069 $ 2,177,818 $ (3,993,970 ) $ 1,481,338 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 16,186 $ 16,496 $ 98,156 $ — $ 130,838 Accrued compensation and benefits 22,171 5,930 26,407 — 54,508 Current maturities of debt 30,000 — — — 30,000 Income taxes payable — — 4,091 — 4,091 Liabilities held for sale — — 44,225 — 44,225 Other current liabilities 17,380 8,361 41,558 — 67,299 Total current liabilities 85,737 30,787 214,437 — 330,961 Long-term debt 502,695 — — — 502,695 Deferred income taxes 17,467 — 4,466 — 21,933 Pension and post-retirement benefit liabilities 7,765 — 7,104 — 14,869 Other long-term liabilities 45,483 299 6,386 — 52,168 Intercompany payable 803,562 133,697 — (937,259 ) — Shareholders’ equity 558,712 1,111,286 1,945,425 (3,056,711 ) 558,712 Total liabilities and shareholders’ equity $ 2,021,421 $ 1,276,069 $ 2,177,818 $ (3,993,970 ) $ 1,481,338 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash (used in) provided by operating activities $ (48,125 ) $ 239,969 $ 169,396 $ (360,049 ) $ 1,191 Investing Activities Capital expenditures (1,314 ) (4,614 ) (17,791 ) — (23,719 ) Proceeds from sale of property, plant and equipment 8 42 1,299 — 1,349 Intercompany investment 49,185 — — (49,185 ) — Proceeds from sale of business, net of transaction costs 23,611 — 12,548 — 36,159 Cash provided by (used in) investing activities 71,490 (4,572 ) (3,944 ) (49,185 ) 13,789 Financing Activities Principal repayments on term loan (57,500 ) — — — (57,500 ) Payment for redemption of term loan (200,000 ) — — — (200,000 ) Proceeds from issuance of term loan 200,000 — — — 200,000 Payment of debt issuance costs (2,125 ) — — — (2,125 ) Stock option exercises, related tax benefits and other 1,352 — — — 1,352 Taxes paid related to the net share settlement of equity awards (1,811 ) — — — (1,811 ) Cash dividends (2,439 ) (261,978 ) (98,071 ) 360,049 (2,439 ) Intercompany loan activity (21,334 ) 26,581 (5,247 ) — — Intercompany capital contribution — — (49,185 ) 49,185 — Cash used in financing activities (83,857 ) (235,397 ) (152,503 ) 409,234 (62,523 ) Effect of exchange rate changes on cash — — (1,613 ) — (1,613 ) Net (decrease) increase in cash and cash equivalents (60,492 ) — 11,336 — (49,156 ) Cash and cash equivalents—beginning of period 67,945 — 182,545 — 250,490 Cash and cash equivalents—end of period $ 7,453 $ — $ 193,881 $ — $ 201,334 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash provided by operating activities $ 25,851 $ 5,587 $ 4,151 $ — $ 35,589 Investing Activities Capital expenditures (2,455 ) (3,944 ) (12,317 ) — (18,716 ) Proceeds from sale of property, plant and equipment — 89 59 — 148 Rental asset buyout for Viking divestiture — — (27,718 ) — (27,718 ) Proceeds from sale of business, net of transaction costs 198 — 8,582 — 8,780 Cash paid for business acquisitions, net of cash acquired — (1,732 ) (20,594 ) — (22,326 ) Intercompany investment (100 ) — — 100 — Cash used in investing activities (2,357 ) (5,587 ) (51,988 ) 100 (59,832 ) Financing Activities Principal repayments on term loan (22,500 ) — — — (22,500 ) Stock option exercises, related tax benefits and other 10,435 — — — 10,435 Taxes paid related to the net share settlement of equity awards (1,279 ) — — — (1,279 ) Cash dividends (2,390 ) — — — (2,390 ) Intercompany loan activity (5,954 ) — 5,954 — — Intercompany capital contribution — — 100 (100 ) — Cash (used in) provided by financing activities (21,688 ) — 6,054 (100 ) (15,734 ) Effect of exchange rate changes on cash — — (104 ) — (104 ) Net increase (decrease) in cash and cash equivalents 1,806 — (41,887 ) — (40,081 ) Cash and cash equivalents—beginning of period 34,982 — 194,589 — 229,571 Cash and cash equivalents—end of period $ 36,788 $ — $ 152,702 $ — $ 189,490

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . Under ASU 2014-09 and subsequent updates included in ASU 2016-10, ASU 2016-12, ASU 2017-13 and ASU 2017-14 (collectively referred to as Accounting Standards Codification 606 “ASC 606”), an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects to receive 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 was adopted by the Company on September 1, 2018 using the modified retrospective method and was applied to contracts that were not completed or substantially complete as of September 1, 2018. Results for the reporting period beginning after September 1, 2018 are presented under ASC 606, while prior year amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting policy in accordance with ASC 605 Revenue Recognition . The Company reported a net increase to opening retained earnings of $0.1 million on September 1, 2018 as a result of the cumulative impact of adopting ASC 606. See Note 2, “Revenue Recognition,” for further discussion of the adoption of ASC 606. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. The new guidance requires the service cost component of net periodic benefit cost to be presented in the same income statement line items as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost are to be stated separately from service cost and outside of operating income. This guidance was adopted by the Company on September 1, 2018. Due to a majority of the Company's defined benefit pension and other postretirement benefit plans being frozen and the net periodic benefit pension cost not being significant, the adoption of this guidance did not have a material impact on the financial statements of the Company. However, prior year amounts have been retrospectively adjusted to reflect this change in accounting principle. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments , to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This guidance was adopted on September 1, 2018. The adoption did not have an impact on the financial statements of the Company. In February 2016, the FASB issued ASU 2016-02, Leases (and subsequently ASU 2018-01 and ASU 2019-01) , 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 beginning September 1, 2019 for the Company), including interim periods within those fiscal years. Upon adoption, certain qualitative and quantitative disclosures are required along with modified retrospective recognition and measurement of impacted leases. The Company anticipates material additions to the balance sheet (upon adoption) of right-of-use assets, offset by the associated liabilities, due to our routine use of operating leases. Currently, the Company's implementation team is analyzing and uploading lease data into the selected third party lease software solution and performing configuration testing within the test environment. The software will be a central repository for active leases and provide the necessary information in order to comply with the standard. The team is also re-assessing and amending current processes and controls in order to comply with the standard, and finalizing our selection of practical expedients associated with the standard. In line with its implementation plan, the Company expects all configuration and testing of the lease software and the majority of the lease data entry to be finalized shortly allowing for a "go-live" of the software in July 2019. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows companies to reclassify stranded income tax effects resulting from the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings in their consolidated financial statements. This guidance is effective for fiscal years beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years. The Company is currently evaluating the impact of this new standard and whether we will elect to reclassify the stranded income taxes.
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2019 August 31, 2018 Foreign currency translation adjustments $ 138,331 $ 158,497 Pension and other postretirement benefit plans, net of tax 15,221 15,748 Accumulated other comprehensive loss $ 153,552 $ 174,245
Property, Plant and Equipment [Table Text Block]	Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2019 August 31, 2018 Land, buildings and improvements $ 42,772 $ 47,468 Machinery and equipment 235,993 229,445 Gross property, plant and equipment 278,765 276,913 Less: Accumulated depreciation (188,792 ) (186,693 ) Property, plant and equipment, net $ 89,973 $ 90,220

Basis of Presentation Schedule

Basis of Presentation Schedule of Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	May 31, 2019
Schedule of Accumulated Other Comprehensive Income (Loss) [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2019 August 31, 2018 Foreign currency translation adjustments $ 138,331 $ 158,497 Pension and other postretirement benefit plans, net of tax 15,221 15,748 Accumulated other comprehensive loss $ 153,552 $ 174,245

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenues (Tables)	9 Months Ended
	May 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents information regarding our revenue disaggregation by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, Net Sales by Reportable Product Line & Segment: 2019 2019 Industrial Tools & Services Product $ 115,067 $ 323,420 Service & Rental 51,665 141,488 166,732 464,908 Engineered Components & Systems (1) On-Highway $ 59,378 $ 174,982 Agriculture, Off-Highway and Other 57,793 164,125 Rope & Cable Solutions 11,363 38,915 Concrete Tensioning — 16,774 128,534 394,796 Total $ 295,266 $ 859,704 (1) The majority of the EC&S segment revenues are product sales, with an immaterial number of service sales. The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2019 Revenues recognized at point in time $ 234,346 $ 696,347 Revenues recognized over time 60,920 163,357 Total $ 295,266 $ 859,704

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Assets and Liabilities (Tables)	9 Months Ended
	May 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability [Table Text Block]	The Company's contract assets and liabilities are as follows (in thousands): May 31, 2019 August 31, 2018 Receivables, which are included in accounts receivable, net $ 202,808 $ 187,749 Contract assets, which are included in other current assets 6,134 6,367 Contract liabilities, which are included in other current liabilities 8,227 16,484

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	May 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following rollforwards summarize restructuring reserve activity by segment (in thousands): Nine Months Ended May 31, 2019 Industrial Tools & Services Engineered Components & Systems Corporate Total Balance as of August 31, 2018 $ 1,687 $ 1,592 $ 415 $ 3,694 Restructuring charges 1,136 442 — 1,578 Cash payments (1,379 ) (1,140 ) (46 ) (2,565 ) Other non-cash uses/reclasses of reserve (7 ) 368 (369 ) (8 ) Impact of changes in foreign currency rates (28 ) (58 ) — (86 ) Balance as of May 31, 2019 $ 1,409 $ 1,204 $ — $ 2,613 Nine Months Ended May 31, 2018 Industrial Tools & Services Engineered Components & Systems Corporate Total Balance as of August 31, 2017 $ 1,499 $ 4,108 $ 30 $ 5,637 Restructuring charges 3,480 3,783 4,836 12,099 Cash payments (2,578 ) (3,799 ) (2,160 ) (8,537 ) Other non-cash uses of reserve (616 ) (1,382 ) (2,093 ) (1) (4,091 ) Impact of changes in foreign currency rates (79 ) (95 ) — (174 ) Balance as of May 31, 2018 $ 1,706 $ 2,615 $ 613 $ 4,934 (1) Majority of non-cash uses of reserve represents accelerated equity vesting in connection with employee severance agreements. In June 2019, the Company announced a new restructuring plan focused on reducing costs and driving efficiencies within the EC&S segment. We expect to incur $2.0 million of costs in the fourth quarter associated with these actions and achieve approximately $3.0 million of annual savings.

Divestiture Activities Assets a

Divestiture Activities Assets and Liabilities Held for Sale (Tables)	9 Months Ended
	May 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities Held for Sale [Table Text Block]	The following is a summary of the assets and liabilities held for sale for the Cortland Fibron business (in thousands): August 31, 2018 Accounts receivable, net $ 2,924 Inventories, net 2,597 Other current assets 3,267 Property, plant & equipment, net 2,186 Goodwill and other intangible assets, net 12,464 Other long-term assets 135 Assets held for sale $ 23,573 Trade accounts payable $ 3,915 Accrued compensation and benefits 1,414 Reserve for cumulative translation adjustment 35,346 Other current liabilities 1,269 Deferred income taxes 2,281 Other long-term liabilities — Liabilities held for sale $ 44,225

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	May 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the gross carrying value of goodwill and intangible assets can result from changes in foreign currency exchange rates, business acquisitions, divestitures or impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2019 are as follows (in thousands): Industrial Tools & Services Engineered Components & Systems Total Balance as of August 31, 2018 $ 248,705 $ 263,707 $ 512,412 Purchase accounting adjustments 253 — 253 Impairment charges — (13,678 ) (13,678 ) Impact of changes in foreign currency rates (3,239 ) (4,249 ) (7,488 ) Balance as of May 31, 2019 $ 245,719 $ 245,780 $ 491,499
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, 2019 August 31, 2018 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 15 $ 217,539 $ 149,742 $ 67,797 $ 230,601 $ 147,451 $ 83,150 Patents 11 25,097 23,371 1,726 30,355 25,327 5,028 Trademarks and tradenames 14 7,254 5,284 1,970 20,823 15,347 5,476 Other intangibles 3 5,571 5,571 — 5,946 5,816 130 Indefinite lived intangible assets: Tradenames N/A 86,689 — 86,689 87,253 — 87,253 $ 342,150 $ 183,968 $ 158,182 $ 374,978 $ 193,941 $ 181,037
Schedule of Asset Impairment Charges [Table Text Block] [Table Text Block]	A summary of impairment charges by reporting unit for the nine months ended May 31, 2019 is as follows (in thousands): Cortland (1) Precision Hayes Total Goodwill $ 13,709 $ — $ 13,709 Amortizable intangible assets — 8,264 8,264 Assets held for sale 1,477 — 1,477 Fixed assets — 1,230 1,230 Total $ 15,185 $ 9,494 $ 24,679 (1) The Cortland reporting unit is representative of the Cortland U.S. and Cortland Fibron businesses. The goodwill impairment charge related to the Cortland U.S. business for the six months ended February 28, 2019 and the assets held for sale impairment charge related to Cortland Fibron for the three months ended November 30, 2019.

Product Warranty Costs (Tables)

Product Warranty Costs (Tables)	9 Months Ended
	May 31, 2019
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following is a rollforward of the product warranty reserves for the nine months ended May 31, 2019 and 2018 , respectively (in thousands): Nine Months Ended May 31, 2019 2018 Beginning balance $ 4,417 $ 6,616 Provision for warranties 3,427 4,213 Warranty payments and costs incurred (3,630 ) (5,604 ) Warranty activity for divested businesses (34 ) — Impact of changes in foreign currency rates (54 ) 95 Ending balance $ 4,126 $ 5,320

Debt (Tables)

Debt (Tables)	9 Months Ended
	May 31, 2019
Debt Disclosure [Abstract]
Long-Term Indebtedness	The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2019 August 31, 2018 Previous Senior Credit Facility Revolver $ — $ — Term Loan — 247,500 Total Previous Senior Credit Facility — 247,500 New Senior Credit Facility Revolver — — Term Loan 190,000 — Total New Senior Credit Facility 190,000 — 5.625% Senior Notes 287,559 287,559 Total Senior Indebtedness 477,559 535,059 Less: Current maturities of long-term debt (6,250 ) (30,000 ) Debt issuance costs (2,325 ) (2,364 ) Total long-term debt, less current maturities $ 468,984 $ 502,695

Derivatives Derivatives (Tables

Derivatives Derivatives (Tables)	9 Months Ended
	May 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Net foreign currency gain (loss) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Foreign currency (loss) gain, net $ (90 ) $ 524 $ 577 $ 664

Capital Stock and Share Repur_2

Capital Stock and Share Repurchase (Tables)	9 Months Ended
	May 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Numerator: Net earnings $ 32,418 $ 29,012 $ 17,719 $ 16,017 Denominator: Weighted average common shares outstanding - basic 61,422 60,683 61,232 60,291 Net effect of dilutive securities - stock based compensation plans 418 381 469 559 Weighted average common shares outstanding - diluted 61,840 61,064 61,701 60,850 Basic earnings per share $ 0.53 $ 0.48 $ 0.29 $ 0.27 Diluted earnings per share $ 0.52 $ 0.48 $ 0.29 $ 0.26 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 987 1,788 1,164 2,338 The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2019 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 28, 2019 81,832 $ 16,364 $ 174,418 $ (617,731 ) $ 1,152,331 $ (139,752 ) $ (2,989 ) $ 2,989 $ 585,630 Net earnings — — — — 32,418 — — — 32,418 Other comprehensive loss, net of tax — — — — — (13,800 ) — — (13,800 ) Stock contribution to employee benefit plans and other 5 1 114 — — — — — 115 Restricted stock awards 28 6 (6 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 3,091 — — — — — 3,091 Stock option exercises 10 2 204 — — — — — 206 Tax effect of stock option exercises and restricted stock vesting — — (322 ) — — — — — (322 ) Stock issued to, acquired for and distributed from rabbi trust 5 1 85 — — — (86 ) 86 86 Balance at May 31, 2019 81,880 $ 16,374 $ 177,584 $ (617,731 ) $ 1,184,749 $ (153,552 ) $ (3,075 ) $ 3,075 $ 607,424 The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2018 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 28, 2018 81,088 $ 16,218 $ 155,974 $ (617,731 ) $ 1,178,047 $ (143,227 ) $ (2,848 ) $ 2,848 $ 589,281 Net earnings — — — — 29,012 — — — 29,012 Other comprehensive loss, net of tax — — — — — (20,953 ) 254 (254 ) (20,953 ) Stock contribution to employee benefit plans and other 5 1 129 — — — — — 130 Restricted stock awards 43 8 (8 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 3,659 — — — — — 3,659 Stock option exercises — — — — — — — — — Tax effect of stock option exercises and restricted stock vesting — — (171 ) — — — — — (171 ) Stock issued to, acquired for and distributed from rabbi trust — — 70 — — — — — 70 Balance at May 31, 2018 81,136 $ 16,227 $ 159,653 $ (617,731 ) $ 1,207,059 $ (164,180 ) $ (2,594 ) $ 2,594 $ 601,028 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2019 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2018 81,424 $ 16,285 $ 167,448 $ (617,731 ) $ 1,166,955 $ (174,245 ) $ (2,450 ) $ 2,450 $ 558,712 Net earnings — — — — 17,719 — — — 17,719 Other comprehensive income, net of tax — — — — — 20,693 — — 20,693 Stock contribution to employee benefit plans and other 15 3 356 — — — — — 359 Restricted stock awards 366 71 (71 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 10,253 — — — — — 10,253 Stock option exercises 45 9 984 — — — — — 993 Tax effect related to net share settlement of equity awards — — (1,811 ) — — — — — (1,811 ) Stock issued to, acquired for and distributed from rabbi trust 30 6 425 — — — (625 ) 625 431 Adoption of accounting standard — — — — 75 — — — 75 Balance at May 31, 2019 81,880 $ 16,374 $ 177,584 $ (617,731 ) $ 1,184,749 $ (153,552 ) $ (3,075 ) $ 3,075 $ 607,424 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2018 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2017 80,200 $ 16,040 $ 138,449 $ (617,731 ) $ 1,191,042 $ (227,261 ) $ (2,696 ) $ 2,696 $ 500,539 Net earnings — — — — 16,017 — — — 16,017 Other comprehensive income, net of tax — — — — — 63,081 254 (254 ) 63,081 Stock contribution to employee benefit plans and other 15 3 393 — — — — — 396 Restricted stock awards 395 79 (79 ) — — — — — — Cash dividend ($0.04 per share) — — — — — — — — — Stock based compensation expense — — 11,951 — — — — — 11,951 Stock option exercises 506 101 9,938 — — — — — 10,039 Tax effect related to net share settlement of equity awards — — (1,279 ) — — — — — (1,279 ) Stock issued to, acquired for and distributed from rabbi trust 20 4 280 — — — (152 ) 152 284 Adoption of accounting standard — — — — — — — — Balance at May 31, 2018 81,136 $ 16,227 $ 159,653 $ (617,731 ) $ 1,207,059 $ (164,180 ) $ (2,594 ) $ 2,594 $ 601,028

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
	May 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Effective Tax Rate [Table Text Block]	Comparative earnings before income taxes, income tax expense (benefit) and effective income tax rates are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2019 2018 2019 2018 Earnings before income taxes $ 39,727 $ 25,017 $ 30,748 $ 33,465 Income tax expense (benefit) 7,309 (3,995 ) 13,029 17,448 Effective income tax rate 18.4 % (16.0 )% 42.4 % 52.1 %

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	May 31, 2019
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, 2019 2018 2019 2018 Net Sales by Reportable Product Line & Segment Industrial Tools & Services Product $ 115,067 $ 115,722 $ 323,420 $ 322,143 Service & Rental 51,665 43,013 141,488 115,570 166,732 158,735 464,908 437,713 Engineered Components & Systems On-Highway 59,378 66,556 174,982 190,735 Agriculture, Off-Highway and Other 57,793 58,386 164,125 160,497 Rope & Cable Solutions 11,363 20,436 38,915 53,924 Concrete Tensioning — 12,983 16,774 35,601 Off Shore Mooring — — — 2,746 128,534 158,361 394,796 443,503 $ 295,266 $ 317,096 $ 859,704 $ 881,216 Operating Profit (Loss) Industrial Tools & Services $ 34,877 $ 31,658 $ 87,797 $ 71,458 Engineered Components & Systems (1) 19,556 9,641 (10,147 ) 9,228 General Corporate (7,073 ) (8,607 ) (23,253 ) (23,517 ) $ 47,360 $ 32,692 $ 54,397 $ 57,169 (1) EC&S segment operating loss includes impairment & divestiture (benefit) charges of $(10.6) million for the three months ended May 31, 2019 and $32.7 million for the nine months ended May 31, 2018. May 31, 2019 August 31, 2018 Assets: Industrial Tools & Services $ 609,690 $ 589,932 Engineered Components & Systems 588,756 657,370 General Corporate 194,710 234,036 $ 1,393,156 $ 1,481,338

Guarantor Subsidiaries (Tables)

Guarantor Subsidiaries (Tables)	9 Months Ended
	May 31, 2019
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 OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 42,915 $ 67,493 $ 184,858 $ — $ 295,266 Cost of products sold 11,238 45,853 126,274 — 183,365 Gross profit 31,677 21,640 58,584 — 111,901 Selling, administrative and engineering expenses 20,766 11,823 37,023 — 69,612 Amortization of intangible assets 318 1,532 2,561 — 4,411 Restructuring charges 574 205 336 — 1,115 Impairment & divestiture charges (benefit) — 876 (11,473 ) — (10,597 ) Operating profit 10,019 7,204 30,137 — 47,360 Financing costs, net 7,221 — 34 — 7,255 Intercompany (income) expense, net (2,627 ) 5,711 (3,084 ) — — Intercompany dividends (74,593 ) (39,208 ) — 113,801 — Other (income) expense, net (52 ) (14 ) 444 — 378 Earnings before income tax expense 80,070 40,715 32,743 (113,801 ) 39,727 Income tax expense 2,067 1,304 3,938 — 7,309 Net earnings before equity in (loss) earnings of subsidiaries 78,003 39,411 28,805 (113,801 ) 32,418 Equity in (loss) earnings of subsidiaries (45,585 ) 19,556 6,080 19,949 — Net earnings $ 32,418 $ 58,967 $ 34,885 $ (93,852 ) $ 32,418 Comprehensive income $ 18,618 $ 58,967 $ 21,141 $ (80,108 ) $ 18,618 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Three Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 41,851 $ 67,677 $ 207,568 $ — $ 317,096 Cost of products sold 6,394 46,823 147,370 — 200,587 Gross profit 35,457 20,854 60,198 — 116,509 Selling, administrative and engineering expenses 22,373 12,276 42,814 — 77,463 Amortization of intangible assets 318 1,582 3,284 — 5,184 Restructuring charges 661 215 294 — 1,170 Operating profit 12,105 6,781 13,806 — 32,692 Financing costs (income), net 7,847 — (91 ) — 7,756 Intercompany (income) expense, net (2,123 ) 9,272 (7,149 ) — — Other (income) expense, net (144 ) (25 ) 88 — (81 ) Earnings (loss) before income tax (benefit) expense 6,525 (2,466 ) 20,958 — 25,017 Income tax (benefit) expense (11,354 ) (193 ) 7,552 — (3,995 ) Net earnings (loss) before equity in earnings (loss) of subsidiaries 17,879 (2,273 ) 13,406 — 29,012 Equity in earnings (loss) of subsidiaries 11,133 (1,253 ) 638 (10,518 ) — Net earnings (loss) $ 29,012 $ (3,526 ) $ 14,044 $ (10,518 ) $ 29,012 Comprehensive income (loss) $ 8,059 $ (3,527 ) $ (7,523 ) $ 11,050 $ 8,059 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Nine Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 124,295 $ 189,752 $ 545,657 $ — $ 859,704 Cost of products sold 31,096 133,547 380,666 — 545,309 Gross profit 93,199 56,205 164,991 — 314,395 Selling, administrative and engineering expenses 64,346 35,888 113,314 — 213,548 Amortization of intangible assets 954 4,596 6,581 — 12,131 Restructuring charges 574 112 892 — 1,578 Impairment & divestiture (benefit) charges (904 ) 1,783 31,862 — 32,741 Operating profit 28,229 13,826 12,342 — 54,397 Financing costs (income), net 22,047 — (344 ) — 21,703 Intercompany (income) expense, net (12,797 ) 20,168 (7,371 ) — — Intercompany dividends (320,841 ) (39,208 ) — 360,049 — Other (income) expense, net (433 ) (20 ) 2,399 — 1,946 Earnings before income tax (benefit) expense 340,253 32,886 17,658 (360,049 ) 30,748 Income tax (benefit) expense (218 ) 289 12,958 — 13,029 Net earnings before equity in (loss) earnings of subsidiaries 340,471 32,597 4,700 (360,049 ) 17,719 Equity in (loss) earnings of subsidiaries (322,752 ) 9,150 8,901 304,701 — Net earnings $ 17,719 $ 41,747 $ 13,601 $ (55,348 ) $ 17,719 Comprehensive income $ 38,412 $ 41,747 $ 34,432 $ (76,179 ) $ 38,412 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands) Nine Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Net sales $ 113,780 $ 180,385 $ 587,051 $ — $ 881,216 Cost of products sold 19,205 129,964 424,931 — 574,100 Gross profit 94,575 50,421 162,120 — 307,116 Selling, administrative and engineering expenses 60,009 36,863 123,356 — 220,228 Amortization of intangible assets 954 4,746 9,783 — 15,483 Restructuring charges 6,211 634 4,404 11,249 Impairment & divestiture charges (benefit) 4,217 — (1,230 ) — 2,987 Operating profit 23,184 8,178 25,807 — 57,169 Financing costs (income), net 23,247 — (373 ) — 22,874 Intercompany (income) expense, net (11,987 ) 16,179 (4,192 ) — — Other expense, net 56 49 725 — 830 Earnings (loss) before income tax (benefit) expense 11,868 (8,050 ) 29,647 — 33,465 Income tax (benefit) expense (1,028 ) (1,087 ) 19,563 — 17,448 Net earnings (loss) before equity in earnings (loss) of subsidiaries 12,896 (6,963 ) 10,084 — 16,017 Equity in earnings (loss) of subsidiaries 3,121 (13,286 ) (1,550 ) 11,715 — Net earnings (loss) $ 16,017 $ (20,249 ) $ 8,534 $ 11,715 $ 16,017 Comprehensive income (loss) $ 79,098 $ (20,250 ) $ 73,445 $ (53,195 ) $ 79,098
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 7,453 $ — $ 193,881 $ — $ 201,334 Accounts receivable, net 19,675 39,103 144,030 — 202,808 Inventories, net 28,842 40,665 98,085 — 167,592 Other current assets 11,006 2,506 30,963 — 44,475 Total current assets 66,976 82,274 466,959 — 616,209 Property, plant & equipment, net 7,557 16,286 66,130 — 89,973 Goodwill 38,847 178,097 274,555 — 491,499 Other intangibles, net 5,929 84,155 68,098 — 158,182 Investment in subsidiaries 1,630,936 1,028,078 374,724 (3,033,738 ) — Intercompany receivable — — 929,356 (929,356 ) — Other long-term assets 14,610 300 22,383 — 37,293 Total assets $ 1,764,855 $ 1,389,190 $ 2,202,205 $ (3,963,094 ) $ 1,393,156 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable 16,185 12,902 97,058 — 126,145 Accrued compensation and benefits 12,642 3,260 24,027 — 39,929 Current maturities of debt 6,250 — — — 6,250 Income taxes payable 1,013 — 7,749 — 8,762 Other current liabilities 18,786 4,493 29,198 — 52,477 Total current liabilities 54,876 20,655 158,032 — 233,563 Long-term debt 468,984 — — — 468,984 Deferred income taxes 2,533 13,360 5,208 — 21,101 Pension and post-retirement benefit liabilities 7,330 — 6,945 — 14,275 Other long-term liabilities 43,394 256 4,159 — 47,809 Intercompany payable 580,314 349,042 — (929,356 ) — Shareholders’ equity 607,424 1,005,877 2,027,861 (3,033,738 ) 607,424 Total liabilities and shareholders’ equity $ 1,764,855 $ 1,389,190 $ 2,202,205 $ (3,963,094 ) $ 1,393,156 CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) August 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets Cash and cash equivalents $ 67,945 $ — $ 182,545 $ — $ 250,490 Accounts receivable, net 19,969 37,787 129,993 — 187,749 Inventories, net 22,646 35,840 97,870 — 156,356 Assets held for sale — — 23,573 — 23,573 Other current assets 7,359 2,542 32,831 — 42,732 Total current assets 117,919 76,169 466,812 — 660,900 Property, plant & equipment, net 7,937 14,635 67,648 — 90,220 Goodwill 38,847 178,097 295,468 — 512,412 Other intangible assets, net 6,884 88,752 85,401 — 181,037 Investment in subsidiaries 1,836,879 918,050 301,782 (3,056,711 ) — Intercompany receivables — — 937,259 (937,259 ) — Other long-term assets 12,955 366 23,448 — 36,769 Total assets $ 2,021,421 $ 1,276,069 $ 2,177,818 $ (3,993,970 ) $ 1,481,338 LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Trade accounts payable $ 16,186 $ 16,496 $ 98,156 $ — $ 130,838 Accrued compensation and benefits 22,171 5,930 26,407 — 54,508 Current maturities of debt 30,000 — — — 30,000 Income taxes payable — — 4,091 — 4,091 Liabilities held for sale — — 44,225 — 44,225 Other current liabilities 17,380 8,361 41,558 — 67,299 Total current liabilities 85,737 30,787 214,437 — 330,961 Long-term debt 502,695 — — — 502,695 Deferred income taxes 17,467 — 4,466 — 21,933 Pension and post-retirement benefit liabilities 7,765 — 7,104 — 14,869 Other long-term liabilities 45,483 299 6,386 — 52,168 Intercompany payable 803,562 133,697 — (937,259 ) — Shareholders’ equity 558,712 1,111,286 1,945,425 (3,056,711 ) 558,712 Total liabilities and shareholders’ equity $ 2,021,421 $ 1,276,069 $ 2,177,818 $ (3,993,970 ) $ 1,481,338
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2019 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash (used in) provided by operating activities $ (48,125 ) $ 239,969 $ 169,396 $ (360,049 ) $ 1,191 Investing Activities Capital expenditures (1,314 ) (4,614 ) (17,791 ) — (23,719 ) Proceeds from sale of property, plant and equipment 8 42 1,299 — 1,349 Intercompany investment 49,185 — — (49,185 ) — Proceeds from sale of business, net of transaction costs 23,611 — 12,548 — 36,159 Cash provided by (used in) investing activities 71,490 (4,572 ) (3,944 ) (49,185 ) 13,789 Financing Activities Principal repayments on term loan (57,500 ) — — — (57,500 ) Payment for redemption of term loan (200,000 ) — — — (200,000 ) Proceeds from issuance of term loan 200,000 — — — 200,000 Payment of debt issuance costs (2,125 ) — — — (2,125 ) Stock option exercises, related tax benefits and other 1,352 — — — 1,352 Taxes paid related to the net share settlement of equity awards (1,811 ) — — — (1,811 ) Cash dividends (2,439 ) (261,978 ) (98,071 ) 360,049 (2,439 ) Intercompany loan activity (21,334 ) 26,581 (5,247 ) — — Intercompany capital contribution — — (49,185 ) 49,185 — Cash used in financing activities (83,857 ) (235,397 ) (152,503 ) 409,234 (62,523 ) Effect of exchange rate changes on cash — — (1,613 ) — (1,613 ) Net (decrease) increase in cash and cash equivalents (60,492 ) — 11,336 — (49,156 ) Cash and cash equivalents—beginning of period 67,945 — 182,545 — 250,490 Cash and cash equivalents—end of period $ 7,453 $ — $ 193,881 $ — $ 201,334 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended May 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated Operating Activities Net cash provided by operating activities $ 25,851 $ 5,587 $ 4,151 $ — $ 35,589 Investing Activities Capital expenditures (2,455 ) (3,944 ) (12,317 ) — (18,716 ) Proceeds from sale of property, plant and equipment — 89 59 — 148 Rental asset buyout for Viking divestiture — — (27,718 ) — (27,718 ) Proceeds from sale of business, net of transaction costs 198 — 8,582 — 8,780 Cash paid for business acquisitions, net of cash acquired — (1,732 ) (20,594 ) — (22,326 ) Intercompany investment (100 ) — — 100 — Cash used in investing activities (2,357 ) (5,587 ) (51,988 ) 100 (59,832 ) Financing Activities Principal repayments on term loan (22,500 ) — — — (22,500 ) Stock option exercises, related tax benefits and other 10,435 — — — 10,435 Taxes paid related to the net share settlement of equity awards (1,279 ) — — — (1,279 ) Cash dividends (2,390 ) — — — (2,390 ) Intercompany loan activity (5,954 ) — 5,954 — — Intercompany capital contribution — — 100 (100 ) — Cash (used in) provided by financing activities (21,688 ) — 6,054 (100 ) (15,734 ) Effect of exchange rate changes on cash — — (104 ) — (104 ) Net increase (decrease) in cash and cash equivalents 1,806 — (41,887 ) — (40,081 ) Cash and cash equivalents—beginning of period 34,982 — 194,589 — 229,571 Cash and cash equivalents—end of period $ 36,788 $ — $ 152,702 $ — $ 189,490

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	May 31, 2019	Feb. 28, 2019	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Aug. 31, 2017
Accounting Policies [Abstract]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 100
Condensed Statement of Income Captions [Line Items]
Foreign currency translation adjustments	138,331		$ 158,497
Pension and other postretirement benefit plans, net of tax	15,221		15,748
Total shareholders’ equity	(607,424)	$ (585,630)	(558,712)	$ (601,028)	$ (589,281)	$ (500,539)
AOCI Attributable to Parent [Member]
Condensed Statement of Income Captions [Line Items]
Total shareholders’ equity	$ 153,552	$ 139,752	$ 174,245	$ 164,180	$ 143,227	$ 227,261

Basis of Presentation Accountin

Basis of Presentation Accounting Policies (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2019	Sep. 01, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . Under ASU 2014-09 and subsequent updates included in ASU 2016-10, ASU 2016-12, ASU 2017-13 and ASU 2017-14 (collectively referred to as Accounting Standards Codification 606 “ASC 606”), an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects to receive 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 was adopted by the Company on September 1, 2018 using the modified retrospective method and was applied to contracts that were not completed or substantially complete as of September 1, 2018. Results for the reporting period beginning after September 1, 2018 are presented under ASC 606, while prior year amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting policy in accordance with ASC 605 Revenue Recognition . The Company reported a net increase to opening retained earnings of $0.1 million on September 1, 2018 as a result of the cumulative impact of adopting ASC 606. See Note 2, “Revenue Recognition,” for further discussion of the adoption of ASC 606. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. The new guidance requires the service cost component of net periodic benefit cost to be presented in the same income statement line items as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost are to be stated separately from service cost and outside of operating income. This guidance was adopted by the Company on September 1, 2018. Due to a majority of the Company's defined benefit pension and other postretirement benefit plans being frozen and the net periodic benefit pension cost not being significant, the adoption of this guidance did not have a material impact on the financial statements of the Company. However, prior year amounts have been retrospectively adjusted to reflect this change in accounting principle. In August 2016, the FASB issued ASU 2016‑15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments , to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This guidance was adopted on September 1, 2018. The adoption did not have an impact on the financial statements of the Company. In February 2016, the FASB issued ASU 2016-02, Leases (and subsequently ASU 2018-01 and ASU 2019-01) , 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 beginning September 1, 2019 for the Company), including interim periods within those fiscal years. Upon adoption, certain qualitative and quantitative disclosures are required along with modified retrospective recognition and measurement of impacted leases. The Company anticipates material additions to the balance sheet (upon adoption) of right-of-use assets, offset by the associated liabilities, due to our routine use of operating leases. Currently, the Company's implementation team is analyzing and uploading lease data into the selected third party lease software solution and performing configuration testing within the test environment. The software will be a central repository for active leases and provide the necessary information in order to comply with the standard. The team is also re-assessing and amending current processes and controls in order to comply with the standard, and finalizing our selection of practical expedients associated with the standard. In line with its implementation plan, the Company expects all configuration and testing of the lease software and the majority of the lease data entry to be finalized shortly allowing for a "go-live" of the software in July 2019. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows companies to reclassify stranded income tax effects resulting from the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings in their consolidated financial statements. This guidance is effective for fiscal years beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years. The Company is currently evaluating the impact of this new standard and whether we will elect to reclassify the stranded income taxes.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 0.1
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ 0.1

Basis of Presentation Schedul_2

Basis of Presentation Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Property, Plant and Equipment [Line Items]
Land, buildings and improvements	$ 42,772	$ 47,468
Machinery and equipment	235,993	229,445
Gross Property, Plant and Equipment	278,765	276,913
Less: Accumulated Depreciation	(188,792)	(186,693)
Property, Plant and Equipment, Net	$ 89,973	$ 90,220

Revenue Recognition Disaggreg_2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	May 31, 2019	May 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 295,266	$ 859,704
Industrial Tools & Services [Member] [Domain]
Disaggregation of Revenue [Line Items]
Revenues	166,732	464,908
Products [Member]
Disaggregation of Revenue [Line Items]
Revenues	115,067	323,420
Service & Rental [Member]
Disaggregation of Revenue [Line Items]
Revenues	51,665	141,488
Engineered Components & Systems [Member] [Domain]
Disaggregation of Revenue [Line Items]
Revenues	128,534	394,796
On-Highway [Member]
Disaggregation of Revenue [Line Items]
Revenues	59,378	174,982
Agriculture, Off-Highway and Other
Disaggregation of Revenue [Line Items]
Revenues	57,793	164,125
Rope & Cable Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,363	38,915
Concrete Tensioning [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	16,774
Revenue Recognized at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	234,346	696,347
Revenue Recognized Over Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 60,920	$ 163,357

Revenue Recognition Contract _2

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 202,808	$ 187,749
Contract assets	6,134	6,367
Contract liabilities	8,227	$ 16,484
Revenue, remaining performance obligation, within next twelve months	$ 8,100

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring costs recorded in cost of products sold				$ 900
Restructuring Reserve [Roll Forward]
Beginning Balance			$ 3,694	5,637
Restructuring Charges	$ 1,115	$ 1,170	1,578	11,249
Restructuring Charges, including recorded in Cost of Product Sold		1,186		12,099
Cash payments			(2,565)	(8,537)
Other non-cash uses of reserve			(8)	(4,091)
Impact of changes in foreign currency rates			(86)	(174)
Ending Balance	2,613	4,934	2,613	4,934
Industrial Tools & Services [Member] [Domain]
Restructuring Reserve [Roll Forward]
Beginning Balance			1,687	1,499
Restructuring Charges			1,136
Restructuring Charges, including recorded in Cost of Product Sold				3,480
Cash payments			(1,379)	(2,578)
Other non-cash uses of reserve			(7)	(616)
Impact of changes in foreign currency rates			(28)	(79)
Ending Balance	1,409	1,706	1,409	1,706
Engineered Components & Systems [Member] [Domain]
Restructuring Reserve [Roll Forward]
Beginning Balance			1,592	4,108
Restructuring Charges			442
Restructuring Charges, including recorded in Cost of Product Sold				3,783
Cash payments			(1,140)	(3,799)
Other non-cash uses of reserve			368	(1,382)
Impact of changes in foreign currency rates			(58)	(95)
Ending Balance	1,204	2,615	1,204	2,615
General Corporate
Restructuring Reserve [Roll Forward]
Beginning Balance			415	30
Restructuring Charges			0
Restructuring Charges, including recorded in Cost of Product Sold				4,836
Cash payments			(46)	(2,160)
Other non-cash uses of reserve			(369)	(2,093)
Impact of changes in foreign currency rates			0	0
Ending Balance	$ 0	$ 613	$ 0	$ 613

Acquisitions Acquisitions (Deta

Acquisitions Acquisitions (Details) - USD ($) $ in Thousands	May 11, 2018	Dec. 01, 2017	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Business Acquisition [Line Items]
Cash paid for business acquisitions, net of cash acquired					$ 0	$ 22,326
Net Sales			$ 295,266		859,704
Mirage Machines [Domain]
Business Acquisition [Line Items]
Business Acquisition, Date of Acquisition Agreement		Dec. 1, 2017
Cash paid for business acquisitions, net of cash acquired		$ 17,400
Goodwill, Acquired During Period		10,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		4,100
Net Sales			3,100			5,100
Equalizer [Member]
Business Acquisition [Line Items]
Business Acquisition, Date of Acquisition Agreement	May 11, 2018
Cash paid for business acquisitions, net of cash acquired	$ 5,800
Goodwill, Acquired During Period	2,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	2,100
FY18 Acquisitions (Mirage Machines and Equalizer) [Domain]
Business Acquisition [Line Items]
Acquisition Costs, Period Cost				$ 300		$ 700
Net Sales			$ 3,400		$ 10,300
Customer relationships | Mirage Machines [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		1,800
Tradenames | Mirage Machines [Domain]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 2,300
Tradenames | Equalizer [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	800
Customer relationships | Equalizer [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 1,300

Divestiture Activities Schedule

Divestiture Activities Schedule of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Schedule of Assets and Liabilities Held for Sale [Line Items]
Assets held for sale	$ 0	$ 23,573
Liabilities held for sale	$ 0	44,225
Cortland Fibron [Domain]
Schedule of Assets and Liabilities Held for Sale [Line Items]
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net		2,924
Disposal Group, Including Discontinued Operation, Inventory, Current		2,597
Disposal Group, Including Discontinued Operation, Other Assets, Current		3,267
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Noncurrent		2,186
Divestiture Activity, Asset Held for Sale, Goodwill and other Intangible Assets		12,464
Disposal Group, Including Discontinued Operation, Other Assets, Noncurrent		135
Assets held for sale		23,573
Disposal Group, Including Discontinued Operation, Accounts Payable, Current		3,915
Divestiture Activity, Liability Held for Sale, Accrued Compensation		1,414
Divestiture Activity, Liability Held for Sale, Reserve for Cumulative Translation Adjustment		35,346
Disposal Group, Including Discontinued Operation, Other Liabilities, Current		1,269
Disposal Group, Including Discontinued Operation, Deferred Income Taxes		2,281
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent		0
Liabilities held for sale		$ 44,225

Divestiture Activities (Details

Divestiture Activities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 19, 2018	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of transaction costs					$ 36,159	$ 8,780
Impairment & divestiture charges			$ (10,597)	$ 0	32,741	2,987
Asset Impairment Charges					24,600
Cortland Fibron [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of transaction costs		$ 12,500
Precision Hayes [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of transaction costs	$ 23,600
Remaining EC&S Segment [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Divestiture Charges			2,400
FY19 Divested Businesses [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment & divestiture charges			(10,597)		32,700
Asset Impairment Charges					24,679
Cumulative Effect of Foreign Currency Rate Change Since Acquisition					600
Other Divestiture Charges					7,500
Other divestiture charges - retention bonuses			800
Income Tax Benefit Related to Write Down of Assets			600		3,400
Disposal Group, Not Discontinued Operation, annual revenue				$ 21,700	$ 24,200	55,100
Cortland U.S. businesses [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cumulative Effect of Foreign Currency Rate Change Since Acquisition			$ (13,000)
Viking [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of transaction costs						8,780
Disposal Group, Not Discontinued Operation, annual revenue						2,700
Divestiture Charges						12,400
Business Exit Costs						3,000
Discrete Income Tax Expense						$ 9,400

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	May 31, 2019USD ($)
Goodwill [Roll Forward]
Balance as of August 31, 2018	$ 512,412
Goodwill, Purchase Accounting Adjustments	253
Goodwill, Impairment Loss	(13,678)
Impact of changes in foreign currency rates	(7,488)
Balance as of May 31, 2019	491,499
Industrial Tools & Services [Member] [Domain]
Goodwill [Roll Forward]
Balance as of August 31, 2018	248,705
Goodwill, Purchase Accounting Adjustments	253
Goodwill, Impairment Loss	0
Impact of changes in foreign currency rates	(3,239)
Balance as of May 31, 2019	245,719
Engineered Components & Systems [Member] [Domain]
Goodwill [Roll Forward]
Balance as of August 31, 2018	263,707
Goodwill, Purchase Accounting Adjustments	0
Goodwill, Impairment Loss	(13,678)
Impact of changes in foreign currency rates	(4,249)
Balance as of May 31, 2019	$ 245,780

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2019	Aug. 31, 2018
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 183,968	$ 193,941
Gross Carrying Value	342,150	374,978
Net Book Value	158,182	181,037
Tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	0	0
Net Book Value	86,689	87,253
Gross Carrying Value	$ 86,689	87,253
Customer relationships
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	15 years
Gross Carrying Value	$ 217,539	230,601
Accumulated Amortization	149,742	147,451
Net Book Value	$ 67,797	83,150
Patents
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	11 years
Gross Carrying Value	$ 25,097	30,355
Accumulated Amortization	23,371	25,327
Net Book Value	$ 1,726	5,028
Trademarks and tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	14 years
Gross Carrying Value	$ 7,254	20,823
Accumulated Amortization	5,284	15,347
Net Book Value	$ 1,970	5,476
Other intangibles
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	3 years
Gross Carrying Value	$ 5,571	5,946
Accumulated Amortization	5,571	5,816
Net Book Value	$ 0	$ 130

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) $ in Millions	May 31, 2019USD ($)
Impaired Assets [Line Items]
Future Amortization Expense, Remainder of 2019	$ 3.8
Future Amortization Expense, 2020	14.9
Future Amortization Expense, 2021	14.1
Future Amortization Expense, 2022	12.5
Future Amortization Expense, 2023	9.6
Future Amortization Expense, 2024	6.9
Future Amortization Expense, Thereafter	$ 9.6

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets Summary of Asset Impairment Charges (Details) $ in Thousands	9 Months Ended
	May 31, 2019USD ($)
Impaired Assets [Line Items]
Goodwill, Impairment Loss	$ 13,678
Asset Impairment Charges	24,600
FY19 Divested Businesses [Domain]
Impaired Assets [Line Items]
Goodwill, Impairment Loss	13,709
Impairment of Intangible Assets, Finite-lived	8,264
Impairment Charge Representing Excess of the Net Book Value of Assets Held for Sale to the Anticipated Proceeds	1,477
Tangible Asset Impairment Charges	1,230
Asset Impairment Charges	24,679
Cortland businesses [Domain]
Impaired Assets [Line Items]
Goodwill, Impairment Loss	13,709
Impairment of Intangible Assets, Finite-lived	0
Impairment Charge Representing Excess of the Net Book Value of Assets Held for Sale to the Anticipated Proceeds	1,477
Tangible Asset Impairment Charges	0
Asset Impairment Charges	15,185
Precision-Hayes International [Member]
Impaired Assets [Line Items]
Goodwill, Impairment Loss	0
Impairment of Intangible Assets, Finite-lived	8,264
Impairment Charge Representing Excess of the Net Book Value of Assets Held for Sale to the Anticipated Proceeds	0
Tangible Asset Impairment Charges	1,230
Asset Impairment Charges	$ 9,494

Rollforward of Accrued Product

Rollforward of Accrued Product Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2019	May 31, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 4,417	$ 6,616
Provision for warranties	3,427	4,213
Warranty Payments and costs incurred	(3,630)	(5,604)
Activity for Divested Businesses	(34)	0
Impact of changes in foreign currency rates	(54)	95
Ending balance	$ 4,126	$ 5,320

Long-Term Indebtedness (Details

Long-Term Indebtedness (Details) - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Total Senior Indebtedness	$ 477,559	$ 535,059
Less: Current maturities of long-term debt	(6,250)	(30,000)
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	(2,325)	(2,364)
Long-term debt, net	468,984	502,695
Line of Credit
Debt Instrument [Line Items]
Total Senior Indebtedness	190,000	247,500
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	190,000	247,500
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Senior Notes, Noncurrent	$ 287,559	$ 287,559

Debt - Additional Information (

Debt - Additional Information (Details) $ in Thousands	Apr. 16, 2012USD ($)	May 31, 2019USD ($)	Feb. 28, 2019USD ($)
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 600,000
Senior credit facility expansion option, available		300,000	$ 450,000
Debit Instrument, Prepayment, Principal		$ 10,000
Debt Instrument, actual interest rate		4.07%
Libor Rate
Debt Instrument [Line Items]
Debt instrument, interest rate over variable rate		1.62%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Maturity Date			May 8, 2020
Line of Credit Facility, Maximum Borrowing Capacity		$ 400,000	$ 300,000
Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		200,000	$ 300,000
Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Unused credit line Available for Borrowing, Amount		$ 398,800
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Maturity Date		Jun. 15, 2022
Debt Instrument, Face Amount	$ 300,000
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
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
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	101.88%
Starting on August 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 1,250
Starting on May 31, 2022
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 5,000

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 148	$ 396
Senior Notes | 5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 290,100	$ 293,500

Derivatives Narrative (Details)

Derivatives Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Aug. 31, 2018
Derivative [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 148		$ 148		$ 396
Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives and Not Designated as Hedging Instruments at Fair Value	(90)	$ 524	577	$ 664
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 21,500		$ 21,500		$ 17,000

Earnings per Share and Sharehol

Earnings per Share and Shareholders' Equity Share Repurchase (Details) - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018
Equity [Abstract]
Treasury Stock, Shares	20,439,434	20,439,434
Stock Repurchase Program, Authorized Amount	$ 617.7
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	7,560,566

Capital Stock (Details)

Capital Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Earnings Per Share [Abstract]
Net earnings	$ 32,418	$ 29,012	$ 17,719	$ 16,017
Weighted average common shares outstanding - basic	61,422	60,683	61,232	60,291
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	418	381	469	559
Diluted	61,840	61,064	61,701	60,850
Basic	$ 0.53	$ 0.48	$ 0.29	$ 0.27
Diluted	$ 0.52	$ 0.48	$ 0.29	$ 0.26
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation)	987	1,788	1,164	2,338

Earnings per Share and Shareh_2

Earnings per Share and Shareholders' Equity Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Feb. 28, 2019	Aug. 31, 2018	Feb. 28, 2018	Aug. 31, 2017
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 607,424	$ 601,028	$ 607,424	$ 601,028	$ 585,630	$ 558,712	$ 589,281	$ 500,539
Net earnings	32,418	29,012	17,719	16,017
Other Comprehensive Income (Loss), Net of Tax	(13,800)	(20,953)	20,693	63,081
Stock Issued During Period, Value, Employee Benefit Plan	115	130	359	396
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	3,091	3,659	10,253	11,951
Stock Issued During Period, Value, Stock Options Exercised	206		993	10,039
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	(322)	(171)	(1,811)	(1,279)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	86	$ 70	431	$ 284
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 100		$ 100
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	81,880	81,136	81,880	81,136	81,832	81,424	81,088	80,200
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 16,374	$ 16,227	$ 16,374	$ 16,227	$ 16,364	$ 16,285	$ 16,218	$ 16,040
Stock Issued During Period, Shares, Employee Benefit Plan	5	5	15	15
Stock Issued During Period, Value, Employee Benefit Plan	$ 1	$ 1	$ 3	$ 3
Stock Issued During Period, Shares, Restricted Stock Award, Gross	28	43	366	395
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 6	$ 8	$ 71	$ 79
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	10		45	506
Stock Issued During Period, Value, Stock Options Exercised	$ 2		$ 9	$ 101
Stock Issued To Acquired For And Distributed From Rabbi Trust	5		30	20
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 1		$ 6	$ 4
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	177,584	159,653	177,584	159,653	174,418	167,448	155,974	138,449
Stock Issued During Period, Value, Employee Benefit Plan	114	129	356	393
Stock Issued During Period, Value, Restricted Stock Award, Gross	(6)	(8)	(71)	(79)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	3,091	3,659	10,253	11,951
Stock Issued During Period, Value, Stock Options Exercised	204		984	9,938
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	322	171	1,811	1,279
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	85	70	425	280
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(617,731)	(617,731)	(617,731)	(617,731)	(617,731)	(617,731)	(617,731)	(617,731)
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,184,749	1,207,059	1,184,749	1,207,059	1,152,331	1,166,955	1,178,047	1,191,042
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(153,552)	(164,180)	(153,552)	(164,180)	(139,752)	(174,245)	(143,227)	(227,261)
Other Comprehensive Income (Loss), Net of Tax	(13,800)	(20,953)	20,693	63,081
Stock held in trust [member] [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(3,075)	(2,594)	(3,075)	(2,594)	(2,989)	(2,450)	(2,848)	(2,696)
Other Comprehensive Income (Loss), Net of Tax		254		254
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	(86)		(625)	(152)
Deferred Compensation, Share-based Payments [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,075	2,594	3,075	2,594	$ 2,989	$ 2,450	$ 2,848	$ 2,696
Other Comprehensive Income (Loss), Net of Tax		$ (254)		(254)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 86		$ 625	$ 152

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2019	May 31, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Income Tax Disclosure Additional Details [Table] [Line Items]
Earnings before income taxes	$ 39,727	$ 25,017		$ 30,748	$ 33,465
Income tax expense (benefit)	$ 7,309	$ (3,995)		$ 13,029	$ 17,448
Effective Income Tax Rate Reconciliation, Percent	18.40%	(16.00%)		42.40%	52.10%
Federal Statutory Income Tax Rate, Percent			35.00%	21.00%
Impairment & divestiture charges	$ (10,597)	$ 0		$ 32,741	$ 2,987
Impairment & divestiture charges, net of tax	$ (11,200)			$ 29,362	$ 12,385
Effective Income Tax Rate, Percent, Excluding Impairment & Divestiture Charges	10.90%	(16.00%)		25.80%	22.10%
Tax (benefit) expense Related to the Tax Cuts and Jobs Act	$ 13,000
Percent of Revenue (excluding impairment charge) from foreign jurisdictions				70.00%
Minimum
Income Tax Disclosure Additional Details [Table] [Line Items]
Effective Income Tax Rate Reconciliation, Deduction, Percent				3.00%
Maximum
Income Tax Disclosure Additional Details [Table] [Line Items]
Effective Income Tax Rate Reconciliation, Deduction, Percent				4.00%

Summary of Financial Informatio

Summary of Financial Information by Reportable Segment and Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Aug. 31, 2018
Segment Reporting Information [Line Items]
Net Sales	$ 295,266	$ 317,096	$ 859,704	$ 881,216
Operating Profit (Loss)	47,360	32,692	54,397	57,169
Assets	1,393,156		1,393,156		$ 1,481,338
Impairment & divestiture charges	(10,597)	0	32,741	2,987
Industrial Tools & Services [Member] [Domain]
Segment Reporting Information [Line Items]
Net Sales	166,732	158,735	464,908	437,713
Operating Profit (Loss)	34,877	31,658	87,797	71,458
Assets	609,690		609,690		589,932
Products [Member]
Segment Reporting Information [Line Items]
Net Sales	115,067	115,722	323,420	322,143
Service & Rental [Member]
Segment Reporting Information [Line Items]
Net Sales	51,665	43,013	141,488	115,570
Engineered Components & Systems [Member] [Domain]
Segment Reporting Information [Line Items]
Net Sales	128,534	158,361	394,796	443,503
Operating Profit (Loss)	19,556	9,641	(10,147)	9,228
Assets	588,756		588,756		657,370
On-Highway [Member]
Segment Reporting Information [Line Items]
Net Sales	59,378	66,556	174,982	190,735
Agriculture, Off-Highway and Other
Segment Reporting Information [Line Items]
Net Sales	57,793	58,386	164,125	160,497
Rope & Cable Solutions [Member]
Segment Reporting Information [Line Items]
Net Sales	11,363	20,436	38,915	53,924
Concrete Tensioning [Member]
Segment Reporting Information [Line Items]
Net Sales	0	12,983	16,774	35,601
Off-Shore Mooring [Member]
Segment Reporting Information [Line Items]
Net Sales	0	0	0	2,746
General Corporate
Segment Reporting Information [Line Items]
Operating Profit (Loss)	(7,073)	$ (8,607)	(23,253)	$ (23,517)
Assets	$ 194,710		$ 194,710		$ 234,036

Contingencies and Litigation -

Contingencies and Litigation - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2018	May 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 23.6	$ 17.5
Discounted present value of future minimum lease payments		$ 9.6
Weighted Average Discount Rate on Future Minimum Lease Payments		2.43%
Sales to Iranian Distributors	$ 0.5

Guarantor Subsidiaries - Additi

Guarantor Subsidiaries - Additional Information (Details) - 5.625% Senior Notes - Senior Notes - USD ($) $ in Thousands	May 31, 2019	Aug. 31, 2018	Apr. 16, 2012
Guarantor Obligations [Line Items]
Debt Instrument, Face Amount			$ 300,000
Senior Notes, Noncurrent	$ 287,559	$ 287,559
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, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net Sales	$ 295,266	$ 317,096	$ 859,704	$ 881,216
Cost of products sold	183,365	200,587	545,309	574,100
Gross profit	111,901	116,509	314,395	307,116
Selling, administrative and engineering expenses	69,612	77,463	213,548	220,228
Amortization of intangible assets	4,411	5,184	12,131	15,483
Restructuring Charges	1,115	1,170	1,578	11,249
Impairment & divestiture charges	(10,597)	0	32,741	2,987
Operating profit	47,360	32,692	54,397	57,169
Financing costs, net	7,255	7,756	21,703	22,874
Intercompany Expense (Income) Net	0	0	0	0
Intercompany Dividends	0		0
Other (income) expense, net	378	(81)	1,946	830
Earnings before income tax expense (benefit)	39,727	25,017	30,748	33,465
Income tax expense (benefit)	7,309	(3,995)	13,029	17,448
Net earnings (loss) before equity in (loss) earnings of subsidiaries	32,418	29,012	17,719	16,017
Equity In Earnings Of Subsidiaries	0	0	0	0
Net earnings	32,418	29,012	17,719	16,017
Comprehensive income	18,618	8,059	38,412	79,098
Reportable Legal Entities | Parent
Condensed Financial Statements, Captions [Line Items]
Net Sales	42,915	41,851	124,295	113,780
Cost of products sold	11,238	6,394	31,096	19,205
Gross profit	31,677	35,457	93,199	94,575
Selling, administrative and engineering expenses	20,766	22,373	64,346	60,009
Amortization of intangible assets	318	318	954	954
Restructuring Charges	574	661	574	6,211
Impairment & divestiture charges	0		(904)	4,217
Operating profit	10,019	12,105	28,229	23,184
Financing costs, net	7,221	7,847	22,047	23,247
Intercompany Expense (Income) Net	(2,627)	(2,123)	(12,797)	(11,987)
Intercompany Dividends	(74,593)		(320,841)
Other (income) expense, net	(52)	(144)	(433)	56
Earnings before income tax expense (benefit)	80,070	6,525	340,253	11,868
Income tax expense (benefit)	2,067	(11,354)	(218)	(1,028)
Net earnings (loss) before equity in (loss) earnings of subsidiaries	78,003	17,879	340,471	12,896
Equity In Earnings Of Subsidiaries	(45,585)	11,133	(322,752)	3,121
Net earnings	32,418	29,012	17,719	16,017
Comprehensive income	18,618	8,059	38,412	79,098
Reportable Legal Entities | Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	67,493	67,677	189,752	180,385
Cost of products sold	45,853	46,823	133,547	129,964
Gross profit	21,640	20,854	56,205	50,421
Selling, administrative and engineering expenses	11,823	12,276	35,888	36,863
Amortization of intangible assets	1,532	1,582	4,596	4,746
Restructuring Charges	205	215	112	634
Impairment & divestiture charges	876		1,783	0
Operating profit	7,204	6,781	13,826	8,178
Financing costs, net	0	0	0	0
Intercompany Expense (Income) Net	5,711	9,272	20,168	16,179
Intercompany Dividends	(39,208)		(39,208)
Other (income) expense, net	(14)	(25)	(20)	49
Earnings before income tax expense (benefit)	40,715	(2,466)	32,886	(8,050)
Income tax expense (benefit)	1,304	(193)	289	(1,087)
Net earnings (loss) before equity in (loss) earnings of subsidiaries	39,411	(2,273)	32,597	(6,963)
Equity In Earnings Of Subsidiaries	19,556	(1,253)	9,150	(13,286)
Net earnings	58,967	(3,526)	41,747	(20,249)
Comprehensive income	58,967	(3,527)	41,747	(20,250)
Reportable Legal Entities | Non-Guarantors
Condensed Financial Statements, Captions [Line Items]
Net Sales	184,858	207,568	545,657	587,051
Cost of products sold	126,274	147,370	380,666	424,931
Gross profit	58,584	60,198	164,991	162,120
Selling, administrative and engineering expenses	37,023	42,814	113,314	123,356
Amortization of intangible assets	2,561	3,284	6,581	9,783
Restructuring Charges	336	294	892	4,404
Impairment & divestiture charges	(11,473)		31,862	(1,230)
Operating profit	30,137	13,806	12,342	25,807
Financing costs, net	34	(91)	(344)	(373)
Intercompany Expense (Income) Net	(3,084)	(7,149)	(7,371)	(4,192)
Intercompany Dividends	0		0
Other (income) expense, net	444	88	2,399	725
Earnings before income tax expense (benefit)	32,743	20,958	17,658	29,647
Income tax expense (benefit)	3,938	7,552	12,958	19,563
Net earnings (loss) before equity in (loss) earnings of subsidiaries	28,805	13,406	4,700	10,084
Equity In Earnings Of Subsidiaries	6,080	638	8,901	(1,550)
Net earnings	34,885	14,044	13,601	8,534
Comprehensive income	21,141	(7,523)	34,432	73,445
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	0
Impairment & divestiture charges	0		0	0
Operating profit	0	0	0	0
Financing costs, net	0	0	0	0
Intercompany Expense (Income) Net	0	0	0	0
Intercompany Dividends	113,801		360,049
Other (income) expense, net	0	0	0	0
Earnings before income tax expense (benefit)	(113,801)	0	(360,049)	0
Income tax expense (benefit)	0	0	0	0
Net earnings (loss) before equity in (loss) earnings of subsidiaries	(113,801)	0	(360,049)	0
Equity In Earnings Of Subsidiaries	19,949	(10,518)	304,701	11,715
Net earnings	(93,852)	(10,518)	(55,348)	11,715
Comprehensive income	$ (80,108)	$ 11,050	$ (76,179)	$ (53,195)

Condensed Consolidating Balance

Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	May 31, 2019	Feb. 28, 2019	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Aug. 31, 2017
Current assets
Cash and cash equivalents	$ 201,334		$ 250,490	$ 189,490		$ 229,571
Accounts receivable, net	202,808		187,749
Inventories, net	167,592		156,356
Assets held for sale	0		23,573
Other current assets	44,475		42,732
Total current assets	616,209		660,900
Property, Plant and Equipment, Net	89,973		90,220
Goodwill	491,499		512,412
Other intangibles, net	158,182		181,037
Investments in subsidiaries	0		0
Intercompany Receivable	0		0
Other long-term assets	37,293		36,769
Total assets	1,393,156		1,481,338
Current liabilities
Trade accounts payable	126,145		130,838
Accrued compensation and benefits	39,929		54,508
Current maturities of debt	6,250		30,000
Income taxes payable	8,762		4,091
Liabilities held for sale	0		44,225
Other current liabilities	52,477		67,299
Total current liabilities	233,563		330,961
Long-term debt, net	468,984		502,695
Deferred income taxes	21,101		21,933
Pension and postretirement benefit liabilities	14,275		14,869
Other long-term liabilities	47,809		52,168
Intercompany Payable	0		0
Total shareholders’ equity	607,424	$ 585,630	558,712	601,028	$ 589,281	500,539
Total liabilities and shareholders’ equity	1,393,156		1,481,338
Reportable Legal Entities | Parent
Current assets
Cash and cash equivalents	7,453		67,945	36,788		34,982
Accounts receivable, net	19,675		19,969
Inventories, net	28,842		22,646
Assets held for sale			0
Other current assets	11,006		7,359
Total current assets	66,976		117,919
Property, Plant and Equipment, Net	7,557		7,937
Goodwill	38,847		38,847
Other intangibles, net	5,929		6,884
Investments in subsidiaries	1,630,936		1,836,879
Intercompany Receivable	0		0
Other long-term assets	14,610		12,955
Total assets	1,764,855		2,021,421
Current liabilities
Trade accounts payable	16,185		16,186
Accrued compensation and benefits	12,642		22,171
Current maturities of debt	6,250		30,000
Income taxes payable	1,013		0
Liabilities held for sale			0
Other current liabilities	18,786		17,380
Total current liabilities	54,876		85,737
Long-term debt, net	468,984		502,695
Deferred income taxes	2,533		17,467
Pension and postretirement benefit liabilities	7,330		7,765
Other long-term liabilities	43,394		45,483
Intercompany Payable	580,314		803,562
Total shareholders’ equity	607,424		558,712
Total liabilities and shareholders’ equity	1,764,855		2,021,421
Reportable Legal Entities | Guarantors
Current assets
Cash and cash equivalents	0		0	0		0
Accounts receivable, net	39,103		37,787
Inventories, net	40,665		35,840
Assets held for sale			0
Other current assets	2,506		2,542
Total current assets	82,274		76,169
Property, Plant and Equipment, Net	16,286		14,635
Goodwill	178,097		178,097
Other intangibles, net	84,155		88,752
Investments in subsidiaries	1,028,078		918,050
Intercompany Receivable	0		0
Other long-term assets	300		366
Total assets	1,389,190		1,276,069
Current liabilities
Trade accounts payable	12,902		16,496
Accrued compensation and benefits	3,260		5,930
Current maturities of debt	0		0
Income taxes payable	0		0
Liabilities held for sale			0
Other current liabilities	4,493		8,361
Total current liabilities	20,655		30,787
Long-term debt, net	0		0
Deferred income taxes	13,360		0
Pension and postretirement benefit liabilities	0		0
Other long-term liabilities	256		299
Intercompany Payable	349,042		133,697
Total shareholders’ equity	1,005,877		1,111,286
Total liabilities and shareholders’ equity	1,389,190		1,276,069
Reportable Legal Entities | Non-Guarantors
Current assets
Cash and cash equivalents	193,881		182,545	152,702		194,589
Accounts receivable, net	144,030		129,993
Inventories, net	98,085		97,870
Assets held for sale			23,573
Other current assets	30,963		32,831
Total current assets	466,959		466,812
Property, Plant and Equipment, Net	66,130		67,648
Goodwill	274,555		295,468
Other intangibles, net	68,098		85,401
Investments in subsidiaries	374,724		301,782
Intercompany Receivable	929,356		937,259
Other long-term assets	22,383		23,448
Total assets	2,202,205		2,177,818
Current liabilities
Trade accounts payable	97,058		98,156
Accrued compensation and benefits	24,027		26,407
Current maturities of debt	0		0
Income taxes payable	7,749		4,091
Liabilities held for sale			44,225
Other current liabilities	29,198		41,558
Total current liabilities	158,032		214,437
Long-term debt, net	0		0
Deferred income taxes	5,208		4,466
Pension and postretirement benefit liabilities	6,945		7,104
Other long-term liabilities	4,159		6,386
Intercompany Payable	0		0
Total shareholders’ equity	2,027,861		1,945,425
Total liabilities and shareholders’ equity	2,202,205		2,177,818
Eliminations
Current assets
Cash and cash equivalents	0		0	$ 0		$ 0
Accounts receivable, net	0		0
Inventories, net	0		0
Assets held for sale			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
Investments in subsidiaries	(3,033,738)		(3,056,711)
Intercompany Receivable	(929,356)		(937,259)
Other long-term assets	0		0
Total assets	(3,963,094)		(3,993,970)
Current liabilities
Trade accounts payable	0		0
Accrued compensation and benefits	0		0
Current maturities of debt	0		0
Income taxes payable	0		0
Liabilities held for sale			0
Other current liabilities	0		0
Total current liabilities	0		0
Long-term debt, net	0		0
Deferred income taxes	0		0
Pension and postretirement benefit liabilities	0		0
Other long-term liabilities	0		0
Intercompany Payable	(929,356)		(937,259)
Total shareholders’ equity	(3,033,738)		(3,056,711)
Total liabilities and shareholders’ equity	$ (3,963,094)		$ (3,993,970)

Condensed Consolidating State_2

Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2019	May 31, 2018
Operating Activities
Net cash (used in) provided by operating activities	$ 1,191	$ 35,589
Investing Activities
Capital expenditures	(23,719)	(18,716)
Proceeds from sale of property, plant and equipment	1,349	148
Intercompany investment	0	0
Rental asset buyout for Viking divestiture	0	(27,718)
Proceeds from sale of business, net of transaction costs	36,159	8,780
Cash paid for business acquisitions, net of cash acquired	0	(22,326)
Cash provided by (used in) investing activities	13,789	(59,832)
Financing Activities
Principal repayments on term loan	(57,500)	(22,500)
Payment for redemption of term loan	(200,000)	0
Proceeds from issuance of term loan	200,000	0
Payments of debt issuance costs	(2,125)	0
Stock option exercises and other	1,352	10,435
Taxes paid related to the net share settlement of equity awards	(1,811)	(1,279)
Cash dividend	(2,439)	(2,390)
Intercompany Loan Activity	0	0
Intercompany Capital Contribution	0	0
Cash used in financing activities	(62,523)	(15,734)
Effect of exchange rate changes on cash	(1,613)	(104)
Net decrease in cash and cash equivalents	(49,156)	(40,081)
Cash and cash equivalents - beginning of period	250,490	229,571
Cash and cash equivalents - end of period	201,334	189,490
Reportable Legal Entities | Parent
Operating Activities
Net cash (used in) provided by operating activities	(48,125)	25,851
Investing Activities
Capital expenditures	(1,314)	(2,455)
Proceeds from sale of property, plant and equipment	8	0
Intercompany investment	49,185	(100)
Rental asset buyout for Viking divestiture		0
Proceeds from sale of business, net of transaction costs	23,611	198
Cash paid for business acquisitions, net of cash acquired		0
Cash provided by (used in) investing activities	71,490	(2,357)
Financing Activities
Principal repayments on term loan	(57,500)	(22,500)
Payment for redemption of term loan	(200,000)
Proceeds from issuance of term loan	200,000
Payments of debt issuance costs	(2,125)
Stock option exercises and other	1,352	10,435
Taxes paid related to the net share settlement of equity awards	(1,811)	(1,279)
Cash dividend	(2,439)	(2,390)
Intercompany Loan Activity	(21,334)	(5,954)
Intercompany Capital Contribution	0	0
Cash used in financing activities	(83,857)	(21,688)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	(60,492)	1,806
Cash and cash equivalents - beginning of period	67,945	34,982
Cash and cash equivalents - end of period	7,453	36,788
Reportable Legal Entities | Guarantors
Operating Activities
Net cash (used in) provided by operating activities	239,969	5,587
Investing Activities
Capital expenditures	(4,614)	(3,944)
Proceeds from sale of property, plant and equipment	42	89
Intercompany investment	0	0
Rental asset buyout for Viking divestiture		0
Proceeds from sale of business, net of transaction costs	0	0
Cash paid for business acquisitions, net of cash acquired		(1,732)
Cash provided by (used in) investing activities	(4,572)	(5,587)
Financing Activities
Principal repayments on term loan	0	0
Payment for redemption of term loan	0
Proceeds from issuance of term loan	0
Payments of debt issuance costs	0
Stock option exercises and other	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Cash dividend	(261,978)	0
Intercompany Loan Activity	26,581	0
Intercompany Capital Contribution	0	0
Cash used in financing activities	(235,397)	0
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
Reportable Legal Entities | Non-Guarantors
Operating Activities
Net cash (used in) provided by operating activities	169,396	4,151
Investing Activities
Capital expenditures	(17,791)	(12,317)
Proceeds from sale of property, plant and equipment	1,299	59
Intercompany investment	0	0
Rental asset buyout for Viking divestiture		(27,718)
Proceeds from sale of business, net of transaction costs	12,548	8,582
Cash paid for business acquisitions, net of cash acquired		(20,594)
Cash provided by (used in) investing activities	(3,944)	(51,988)
Financing Activities
Principal repayments on term loan	0	0
Payment for redemption of term loan	0
Proceeds from issuance of term loan	0
Payments of debt issuance costs	0
Stock option exercises and other	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Cash dividend	(98,071)	0
Intercompany Loan Activity	(5,247)	5,954
Intercompany Capital Contribution	(49,185)	100
Cash used in financing activities	(152,503)	6,054
Effect of exchange rate changes on cash	(1,613)	(104)
Net decrease in cash and cash equivalents	11,336	(41,887)
Cash and cash equivalents - beginning of period	182,545	194,589
Cash and cash equivalents - end of period	193,881	152,702
Eliminations
Operating Activities
Net cash (used in) provided by operating activities	(360,049)	0
Investing Activities
Capital expenditures	0	0
Proceeds from sale of property, plant and equipment	0	0
Intercompany investment	(49,185)	100
Rental asset buyout for Viking divestiture		0
Proceeds from sale of business, net of transaction costs	0	0
Cash paid for business acquisitions, net of cash acquired		0
Cash provided by (used in) investing activities	(49,185)	100
Financing Activities
Principal repayments on term loan	0	0
Payment for redemption of term loan	0
Proceeds from issuance of term loan	0
Payments of debt issuance costs	0
Stock option exercises and other	0	0
Taxes paid related to the net share settlement of equity awards	0	0
Cash dividend	360,049	0
Intercompany Loan Activity	0	0
Intercompany Capital Contribution	49,185	(100)
Cash used in financing activities	409,234	(100)
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