Enerpac Tool (EPAC) 10-Q 1 Jul 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	May 31, 2020	Jun. 26, 2020	Aug. 31, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2020
Document Transition Report	false
Entity File Number	1-11288
Entity Registrant Name	ENERPAC TOOL GROUP CORP.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0168610
Entity Address, Address Line One	N86 W12500 WESTBROOK CROSSING
Entity Address, City or Town	MENOMONEE FALLS
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53051
City Area Code	262
Local Phone Number	293-1500
Title of 12(b) Security	Class A common stock, $0.20 par value per share
Trading Symbol	EPAC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,768,998
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000006955
Current Fiscal Year End Date	--08-31
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	82,562,731		81,920,679

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Income Statement [Abstract]
Net Sales	$ 101,879	$ 178,095	$ 381,939	$ 496,435
Cost of products sold	59,932	96,141	209,211	272,853
Gross profit	41,947	81,954	172,728	223,582
Selling, administrative and engineering expenses	40,766	52,810	142,842	159,364
Amortization of intangible assets	2,174	2,838	6,167	6,989
Restructuring Charges	2,448	1,115	6,348	1,132
Impairment & divestiture (benefits) charges	(1,443)	(12,988)	(3,567)	14,031
Operating (loss) profit	(1,998)	38,179	20,938	42,066
Financing costs, net	4,552	7,146	15,911	21,601
Other (income) expense, net	(1,213)	(787)	(1,682)	234
(Loss) earnings before income tax (benefit) expense	(5,337)	31,820	6,709	20,231
Income tax (benefit) expense	(407)	4,962	1,349	9,030
Net (Loss) Earnings from Continuing Operations	(4,930)	26,858	5,360	11,201
Net (Loss) Earnings from Discontinued Operations	(69)	5,560	(6,076)	6,518
Net (loss) earnings	$ (4,999)	$ 32,418	$ (716)	$ 17,719
Earnings (loss) per share
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ (0.08)	$ 0.44	$ 0.09	$ 0.18
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	(0.08)	0.43	0.09	0.18
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	0	0.09	(0.10)	0.11
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	0	0.09	(0.10)	0.11
(Loss) Earnings Per Share, Basic	(0.08)	0.53	(0.01)	0.29
(Loss) Earnings Per Share, Diluted	$ (0.08)	$ 0.52	$ (0.01)	$ 0.29
Weighted average common shares outstanding
Weighted average common shares outstanding - basic	59,826	61,422	60,012	61,232
Weighted Average Common Shares outstanding - diluted	59,826	61,840	60,358	61,701

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Net (loss) earnings	$ (4,999)	$ 32,418	$ (716)	$ 17,719
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments	(6,779)	(14,000)	(1,533)	(14,744)
Recognition of foreign currency translation losses from divested businesses	0	0	51,994	34,910
Pension and other postretirement benefit plans	193	200	828	527
Other Comprehensive (Loss) Income, Net of Tax	(6,586)	(13,800)	51,289	20,693
Comprehensive (loss) income	$ (11,585)	$ 18,618	$ 50,573	$ 38,412

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Current assets
Cash and cash equivalents	$ 163,603	$ 211,151
Accounts receivable, net	93,796	125,883
Inventories, net	78,914	77,187
Assets from discontinued operations	0	285,578
Other current assets	43,515	30,526
Total current assets	379,828	730,325
Property, plant and equipment, net	60,671	56,729
Goodwill	271,169	260,415
Other intangible assets, net	62,833	52,375
Other long-term assets	77,034	24,430
Total assets	851,535	1,124,274
Current liabilities
Trade accounts payable	52,091	76,914
Accrued compensation and benefits	14,896	26,421
Current maturities of debt	0	7,500
Income taxes payable	6,027	4,838
Liabilities from discontinued operations	0	143,763
Other current liabilities	49,525	40,965
Total current liabilities	122,539	300,401
Long-term debt, net	286,497	452,945
Deferred Income Taxes	2,466	1,564
Pension and postretirement benefit liabilities	19,649	20,213
Other long-term liabilities	84,102	47,972
Total liabilities	515,253	823,095
Shareholders’ equity
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 82,562,731 and 81,920,679 shares, respectively	16,513	16,384
Additional paid-in capital	192,928	181,213
Treasury stock, at cost, 22,795,230 and 21,455,568 shares, respectively	(667,732)	(640,212)
Retained earnings	918,623	915,466
Accumulated other comprehensive loss	(124,050)	(171,672)
Stock held in trust	(2,517)	(3,070)
Deferred compensation liability	2,517	3,070
Total shareholders' equity	336,282	301,179
Total liabilities and shareholders’ equity	$ 851,535	$ 1,124,274

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	May 31, 2020	Aug. 31, 2019
Treasury Stock, Shares	22,799,230	21,455,568
Common Class A
Common Stock, Shares Authorized	168,000,000	168,000,000
Common Stock, Shares, Issued	82,562,731	81,920,679

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	May 31, 2020	May 31, 2019
Operating Activities
Net (loss) earnings	$ (716,000)	$ 17,719,000
Net (Loss) Earnings from Discontinued Operations	(6,076,000)	6,518,000
Net Earnings from Continuing Operations	5,360,000	11,201,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Impairment & divestiture (benefits) charges, net of tax	(2,717,000)	14,018,000
Depreciation and amortization	15,373,000	15,470,000
Stock-based compensation expense	9,129,000	8,003,000
Provision (benefit) for deferred income taxes	1,218,000	(2,096,000)
Amortization of debt issuance costs	1,367,000	884,000
Other non-cash charges	1,169,000	295,000
Changes in components of working capital and other, excluding acquisitions and divestitures:
Accounts receivable	32,745,000	(16,390,000)
Inventories	(4,166,000)	(13,175,000)
Trade accounts payable	(24,246,000)	2,163,000
Prepaid expenses and other assets	1,605,000	(4,212,000)
Income tax accounts	(13,986,000)	5,731,000
Accrued compensation and benefits	(12,342,000)	(8,683,000)
Other accrued liabilities	(5,148,000)	(16,424,000)
Cash provided by (used in) operating activities, Continuing Operations	5,361,000	(3,215,000)
Cash (used in) provided by operating activities, Discontinued Operations	(21,064,000)	4,406,000
Cash (Used in) Provided By Operating Activities	(15,703,000)	1,191,000
Investing Activities
Capital expenditures	(9,308,000)	(12,615,000)
Proceeds from sale of property, plant and equipment	635,000	1,220,000
Lease buyout for divested business	(575,000)	0
Proceeds from sale of business/product line	10,226,000	0
Cash paid for business acquisitions, net of cash acquired	(33,434,000)	0
Cash used in investing activities, Continuing Operations	(32,456,000)	(11,395,000)
Cash Provided by Investing Activities, Discontinued Operations	208,391,000	25,184,000
Cash Provided by Investing Activities	175,935,000	13,789,000
Financing Activities
Principal repayments on term loan	(175,000,000)	(57,500,000)
Payment for Redemption of Term Loan	0	(200,000,000)
Proceeds from Issuance of Term Loan	0	200,000,000
Borrowings on Revolving Credit	100,000,000	0
Principal Repayment on Revolving Credit Facility	(100,000,000)	0
Stock Repurchases	(27,520,000)	0
Taxes paid related to the net share settlement of equity awards	(4,210,000)	(1,811,000)
Stock option exercises and other	2,985,000	1,352,000
Cash dividend	(2,419,000)	(2,439,000)
Payments of Debt Issuance Costs	(234,000)	(2,125,000)
Net Cash Used in Financing Activities, Continuing Operations	(206,398,000)	(62,523,000)
Cash Used in Financing Activities, Discontinued Operations	0	0
Cash used in financing activities	(206,398,000)	(62,523,000)
Effect of exchange rate changes on cash	(1,382,000)	(1,613,000)
Net decrease in cash and cash equivalents	(47,548,000)	(49,156,000)
Cash and cash equivalents - beginning of period	211,151,000	250,490,000
Cash and cash equivalents - end of period	$ 163,603,000	$ 201,334,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation General The accompanying unaudited condensed consolidated financial statements of Enerpac Tool Group Corp. (“Company,” "we," or "us"), formerly known as Actuant Corporation, 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, 2019 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 2019 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, 2020 are not necessarily indicative of the results that may be expected for the entire fiscal year ending August 31, 2020 . The COVID-19 Pandemic - impact on estimates and financial results: The preparation of our condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses. The Company regularly evaluates the estimates and assumptions related to the allowance for doubtful accounts, inventory valuation, warranty reserves, fair value of stock-based awards, goodwill, intangible and long-lived asset valuations, employee benefit plan liabilities, over-time revenue recognition, income tax liabilities, deferred tax assets and related valuation allowances, uncertain tax positions, restructuring reserves, and litigation and other loss contingencies. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning the COVID-19 pandemic and the additional actions taken to contain it or treat it, as well as the severity and duration of the economic impact on local, regional, national and international customers, suppliers and markets. As such, there could be a material adverse impact on the Company's financial condition or results of operations. Management has made estimates of the impact of the COVID-19 pandemic on affected account balances within our financial statements and there may be changes to those estimates in future periods as new information becomes available. Actual results may differ from these estimates. New Accounting Pronouncements 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 on the balance sheet as a lease liability and a right-of-use (“ROU”) asset. The amendments also expanded disclosure requirements for key information about leasing arrangements. On September 1, 2019, the Company adopted the standard using a modified retrospective approach and elected the package of practical expedients allowing us to not reassess whether any expired or existing contracts contain leases, the lease classification for any expired or existing leases, and initial direct costs for leases that commenced prior to September 1, 2019. In addition, we elected not to recognize ROU assets or lease liabilities for leases containing terms of 12 months or less and not separate lease components from non-lease components for all asset classes. The Company updated its standard lease accounting policy to address the new standard, revised the Company’s business processes and controls to align to the updated policy and new standard and completed the implementation of and data input into the Company’s lease accounting software solution. The most significant impact of the standard on the Company was the recognition of a $60.8 million ROU asset and operating lease liability on the Condensed Consolidated Balance Sheets at adoption. The standard did not have a significant impact on our Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows. In addition, as a result of sale leaseback transactions in previous years for which gains were deferred and under the new standard would have been recognized, the Company recorded an increase to retained earnings of $0.2 million in the first quarter of fiscal 2020 , which represents the recognition of these previously deferred gains. See Note 15, “Leases” for further discussion of the Company’s operating leases. 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. The Company adopted the guidance on September 1, 2019 and recorded an increase to retained earnings with an offsetting increase in accumulated other comprehensive loss of $3.7 million on the adoption date. Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2020 August 31, 2019 Foreign currency translation adjustments $ 100,654 $ 151,115 Pension and other postretirement benefit plans, net of tax 23,396 20,557 Accumulated other comprehensive loss $ 124,050 $ 171,672 Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2020 August 31, 2019 Land, buildings and improvements $ 32,128 $ 29,661 Machinery and equipment 137,097 140,083 Gross property, plant and equipment 169,225 169,744 Less: Accumulated depreciation (108,554 ) (113,015 ) Property, plant and equipment, net $ 60,671 $ 56,729

Revenue Recognition Revenue fro

Revenue Recognition Revenue from Contract Customers (Notes)	9 Months Ended
	May 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2. Revenue Recognition Nature of Goods and Services The Company generates its revenue under two principal activities, which are discussed below: Product Sales: Sales of tools, heavy-lifting solutions, and rope and cable solutions 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. For certain other products that are highly customized and have a limited alternative use, and 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. 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. See Note 13, "Segment Information" for information regarding our revenue disaggregation by reportable segment and product line. The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 Revenues recognized at point in time $ 73,412 $ 117,175 $ 275,413 $ 335,314 Revenues recognized over time 28,467 60,920 106,526 161,121 Total $ 101,879 $ 178,095 $ 381,939 $ 496,435 Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2020 August 31, 2019 Receivables, which are included in accounts receivable, net $ 93,796 $ 125,883 Contract assets, which are included in other current assets 4,563 3,747 Contract liabilities, which are included in other current liabilities 2,233 3,707 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, 2020 , 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 the $2.2 million will be recognized in net sales from satisfying those performance obligations within the next twelve months. 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 of obtaining a contract when the amortization period for such contracts would be one year or less. The Company does not disclose the value of unperformed obligations for contracts with an original expected length of one year or less and 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)	9 Months Ended
	May 31, 2020
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 fiscal 2019 , the Company announced a new restructuring plan focused on i) the integration of the Enerpac and Hydratight businesses (Industrial Tools & Service ("IT&S") segment), ii) the strategic exit of certain commodity type services in our North America Services operations (IT&S segment) and iii) driving efficiencies within the overall corporate structure. In the third quarter of fiscal 2020, the Company announced the expansion and revision of this plan, which further simplifies and flattens the Corporate structure through elimination of redundancies between the segment and corporate functions, while enhancing our commercial and marketing processes to become even closer to our customers. Restructuring charges associated with this plan were $2.5 million and $5.6 million in the three and nine months ended May 31, 2020 , respectively. The Company recorded total restructuring charges of $1.1 million in both the three and nine months ended May 31, 2019 . The following summarizes restructuring reserve activity for the IT&S reportable segment and corporate (in thousands): Nine Months Ended May 31, 2020 Industrial Tools & Services Corporate Balance as of August 31, 2019 $ 2,912 $ — Restructuring charges 4,019 1,590 Cash payments (4,265 ) (871 ) Other non-cash uses of reserve (1) (556 ) (484 ) Impact of changes in foreign currency rates (23 ) — Balance as of May 31, 2020 $ 2,087 $ 235 (1) Majority of non-cash uses of reserve represents accelerated equity vesting with employee severance agreements. Nine Months Ended May 31, 2019 Industrial Tools & Services Corporate Balance as of August 31, 2018 $ 1,687 $ 46 Restructuring charges 1,136 — Cash payments (1,379 ) (46 ) Other non-cash uses of reserve (18 ) — Impact of changes in foreign currency rates (28 ) — Balance as of May 31, 2019 $ 1,398 $ — Total restructuring charges (inclusive of the Other segment) were $7.2 million for the nine months ended May 31, 2020 , with $0.8 million of restructuring charges recognized being reported in the Condensed Consolidated Statements of Earnings in "Cost of products sold," with the balance of charges reported in "Restructuring charges." The three and nine months ended May 31, 2020 included $0.8 million (reported in the Condensed Consolidated of Earnings in "Cost of products sold") and $1.6 million of restructuring expenses related to Cortland U.S. (Other segment), respectively. Restructuring reserves for Cortland U.S. were $0.6 million and $0.9 million as of May 31, 2020 and August 31, 2019 , respectively. There were inconsequential restructuring charges recorded within the Other segment associated with the legacy restructuring initiatives in the three and nine months ended May 31, 2019 .

Acquisitions (Notes)

Acquisitions (Notes)	9 Months Ended
	May 31, 2020
Acquisitions [Abstract]
Business Combination Disclosure [Text Block]	Note 4. Acquisitions On January 7, 2020 , the Company acquired 100% of the stock of HTL Group ("HTL"), a provider of controlled bolting products, calibration and repair services, and tool rental services. The tuck-in acquisition of HTL provides the Company with a complete line of bolting products and enhances our European rental capabilities. The Company acquired all of the assets and assumed certain liabilities of HTL for an initial purchase price of $33.4 million , net of cash acquired. In the three months ended May 31, 2020, the Company finalized customary working capital negotiations associated with the acquisition which resulted in a $0.1 million reduction to the initial purchase price, for a total final purchase price of $33.3 million . The Company received an inconsequential amount of cash from the working capital true up in the three months ended May 31, 2020 and contractually is to receive the remainder in the three months ending August 31, 2020. As of May 31, 2020, the preliminary purchase price allocation resulted in $10.1 million of goodwill (which is not deductible for tax purposes), $17.5 million of intangible assets, and $6.7 million of property, plant and equipment. The intangible assets were comprised of $3.7 million of indefinite-lived tradenames, $13.1 million of amortizable customer relationships and $0.7 million of amortizable patents. The impact on the remaining balance sheet line items was not material. The Company recorded an aggregate reduction of less than $0.1 million in "Cost of products sold" and "Amortization of intangible assets" in the Condensed Consolidated Statements of Operations for the three months ended May 31, 2020 as a result of adjustments to preliminary purchase accounting amounts. The Company is continuing to evaluate the preliminary purchase price allocations for the acquisition, specifically the fair values assigned to intangible assets and certain tax attributes of the acquisition, which will be completed within a one-year period of the acquisition date. This acquisition generated net sales of $1.9 million and $3.9 million for the three and nine months ended May 31, 2020

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	May 31, 2020
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 result from changes in foreign currency exchange rates, business acquisitions, divestitures and impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2020 are as follows (in thousands): Industrial Tools & Services Other Total Balance as of August 31, 2019 $ 242,873 $ 17,542 $ 260,415 Acquisition of HTL Group (Note 4) 10,087 — 10,087 Impact of changes in foreign currency rates 658 9 667 Balance as of May 31, 2020 $ 253,618 $ 17,551 $ 271,169 The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands): May 31, 2020 August 31, 2019 Weighted Average Amortization Period (Years) Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Amortizable intangible assets: Customer relationships 14 $ 138,749 $ 102,344 $ 36,405 $ 126,229 $ 96,817 $ 29,412 Patents 12 13,922 12,769 1,153 13,227 12,276 951 Trademarks and tradenames* 12 3,153 2,070 1,083 4,513 2,921 1,592 Indefinite lived intangible assets: Tradenames N/A 24,192 — 24,192 20,420 — 20,420 $ 180,016 $ 117,183 $ 62,833 $ 164,389 $ 112,014 $ 52,375 *The decrease in the Gross Carrying Value and Accumulated Amortization of Trademarks and tradenames is a result of the Milwaukee Cylinder business being held for sale as of November 30, 2019 and the impairment charge discussed in Note 5, "Discontinued Operations and Other Divestiture Activities." included the Trademarks and tradenames associated with that business being fully impaired. The Company estimates that amortization expense will be $2.2 million for the remaining three months of fiscal 2020 . Amortization expense for future years is estimated to be: $8.0 million in fiscal 2021 , $7.2 million in fiscal 2022 , $5.7 million in fiscal 2023 , $4.0 million in fiscal 2024 , $3.3 million in fiscal 2025 and $8.3 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures, impairments or changes in foreign currency exchange rates, among other causes. Fiscal 2019 Impairment Charges As previously discussed in Note 5, "Discontinued Operations and Other Divestiture Activities." , within the Other segment, the Company recognized $13.7 million of Goodwill impairment charges for the nine months ended May 31, 2019 related to the Cortland U.S. business in conjunction with triggering events identified during the period.

Product Warranty Costs

Product Warranty Costs	9 Months Ended
	May 31, 2020
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 may vary by product type and application. The reserve for future warranty claims, which is recorded within the "Other current liabilities" line in the Condensed Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2020 and 2019 , respectively (in thousands): Nine Months Ended May 31, 2020 2019 Beginning balance $ 1,145 $ 931 Provision for warranties 354 1,099 Warranty payments and costs incurred (735 ) (806 ) Warranty activity for divested businesses (27 ) — Impact of changes in foreign currency rates 1 (22 ) Ending balance $ 738 $ 1,202

Debt

Debt	9 Months Ended
	May 31, 2020
Debt Disclosure [Abstract]
Debt	Note 8. Debt The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2020 August 31, 2019 Senior Credit Facility Revolver $ — $ — Term Loan — 175,000 Total Senior Credit Facility — 175,000 5.625% Senior Notes 287,559 287,559 Total Senior Indebtedness 287,559 462,559 Less: Current maturities of long-term debt — (7,500 ) Debt issuance costs (1,062 ) (2,114 ) Total long-term debt, less current maturities $ 286,497 $ 452,945 Senior Credit Facility In March 2019, the Company entered into a Senior Credit Facility with a syndicate of banks, to among other things, i) expand the multi-currency revolving line of credit from $300 million to $400 million , ii) extend the maturity of the Company's Senior Credit Facility from May 2020 to March 2024 and iii) modify certain other provisions of the credit agreement including a reduction in pricing. The Senior Credit Facility was initially comprised of a $400 million revolving line of credit and a $200 million term loan. At May 31, 2020, there were no borrowings under either the revolving line of credit or the term loan. As of that date, $394.9 million was available for borrowing under the revolving line of credit. The Senior Credit Facility also provides the option for future expansion, subject to certain conditions, through a $300 million accordion and/or a $200 million incremental term loan. Borrowings under the Senior Credit Facility bear interest at a variable rate based on LIBOR or a base rate, with interest rate spreads above LIBOR or the base rate being subject to adjustments based on the Company's net leverage ratio, ranging from 1.125% to 2.00% in the case of loans bearing interest at LIBOR and from 1.25% to 1.00% in the case of loans bearing interest at the base rate. In addition, a non-use fee is payable quarterly on the average unused amount of the revolving line of credit ranging from 0.15% to 0.3% per annum, based on the Company's net leverage ratio. In November 2019, the Company used the proceeds from the sale of the EC&S segment to pay off the outstanding principal balance on the term loan. In conjunction with the repayment, the Company expensed the remaining $0.6 million of associated capitalized debt issuance costs. The Senior Credit Facility contains two financial covenants which are a maximum leverage ratio of 3.75 :1 and a minimum interest coverage ratio of 3.5:1. Certain transactions lead to adjustments to the underlying ratio, including an increase to the leverage ratio from 3.75 to 4.25 during the four fiscal quarters after a significant acquisition. The sale of the EC&S segment triggered 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 EC&S segment. In April 2020, the Company proactively amended its Senior Credit Facility to extend the interest coverage ratio at 3.0 for an additional 12 months through October 2021 to mitigate risks associated with the potential impact of the COVID-19 pandemic. The Company was in compliance with all financial covenants at May 31, 2020 . Borrowings under the Senior Credit Facility 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. 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 remained outstanding as of May 31, 2020 . The Senior Notes required no principal installments prior to their June 15, 2022 maturity, required semiannual interest payments in December and June of each year and contained certain financial and non-financial covenants. The Senior Notes included a call feature that allowed the Company to repurchase them anytime on or after June 15, 2017 at stated redemption prices currently at 100.9% and reducing to 100.0% on June 15, 2020, plus accrued and unpaid interest. Subsequent Event In order to reduce interest costs, on June 15, 2020 , the Company borrowed $295.0 million under the Senior Credit Facility revolving line of credit, which was used by the Company to redeem all of the outstanding Senior Notes at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest as of that date. Based on the current leverage ratio, the rate on the revolving line of credit is LIBOR + 1.375%.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	May 31, 2020
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 participants would use in pricing an asset or liability. The fair value of the Company’s cash and cash equivalents, accounts receivable, and accounts payable approximated book value at both May 31, 2020 and August 31, 2019 due to their short-term nature. The fair value of variable rate long-term debt approximated book value at August 31, 2019 as the interest rate approximated market rates (the Company had no variable rate debt outstanding as of May 31, 2020 ). 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 less than $0.1 million at both May 31, 2020 and August 31, 2019 . 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 $287.9 million and $291.5 million at May 31, 2020 and August 31, 2019 , respectively. The fair value of the Senior Notes was based on quoted inactive market prices and are therefore classified as Level 2 within the valuation hierarchy.

Derivatives

Derivatives	9 Months Ended
	May 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Note 10. Derivatives All derivatives are recognized in the balance sheet at their estimated fair value. The Company does not enter into derivatives for speculative purposes. Changes in the value of derivatives (not designated as hedges) are recorded in earnings along with the gain or loss on the hedged asset or liability. 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 expense" in the Condensed Consolidated Statements of Operations). The U.S. dollar equivalent notional value of these short duration foreign currency exchange contracts was $33.2 million and $13.3 million at May 31, 2020 and August 31, 2019 , respectively. The fair value of outstanding foreign currency exchange contracts was a net asset of less than $0.1 million at both May 31, 2020 and August 31, 2019 . Net foreign currency loss (included in "Other expense" in the Condensed Consolidated Statements of Operations) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 Foreign currency loss, net $ (842 ) $ (114 ) $ (1,393 ) $ (115 ) The Company also uses foreign currency forward exchange contracts to hedge portions of our net investments in non-U.S. subsidiaries (net investment hedge) against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. The change in the value of foreign currency forward exchange contracts designated as net investment hedges are recorded in accumulated other comprehensive income where they offset gains and losses recorded on our net investments where the entity has a non-U.S. dollar functional currency. As of May 31, 2020 , the notional value of foreign currency forward exchange contracts designated as net investment hedges was $31.6 million . The Company recorded through accumulated other comprehensive income (loss) a gain of $0.8 million and $ 0.5 million in the three and nine months ended May 31, 2020 , respectively.

Capital Stock and Share Repurch

Capital Stock and Share Repurchase	9 Months Ended
	May 31, 2020
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 22,799,230 shares of common stock for $667.7 million . As of May 31, 2020 , the maximum number of shares that may yet be purchased under the programs is 5,200,770 shares. The Company repurchased 503,873 shares for $9.7 million during the three months ended May 31, 2020 (all shares were purchased in March 2020 under a SEC Rule 10b5-1 trading plan, before the repurchase was able to be suspended in response to the COVID-19 pandemic) and 1,343,662 shares for $27.5 million during the nine months ended May 31, 2020 . 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, 2020 2019 2020 2019 Numerator: Net (loss) earnings from continuing operations $ (4,930 ) $ 26,858 $ 5,360 $ 11,201 Net (loss) earnings from discontinued operations (69 ) 5,560 (6,076 ) 6,518 Net (loss) earnings (4,999 ) 32,418 (716 ) 17,719 Denominator: Weighted average common shares outstanding - basic 59,826 61,422 60,012 61,232 Net effect of dilutive securities - stock based compensation plans — 418 346 469 Weighted average common shares outstanding - diluted $ 59,826 $ 61,840 $ 60,358 $ 61,701 (Loss) earnings per common share from continuing operations: Basic $ (0.08 ) $ 0.44 $ 0.09 $ 0.18 Diluted $ (0.08 ) $ 0.43 $ 0.09 $ 0.18 (Loss) earnings per common share from discontinued operations: Basic $ — $ 0.09 $ (0.10 ) $ 0.11 Diluted $ — $ 0.09 $ (0.10 ) $ 0.11 (Loss) earnings per common share: Basic $ (0.08 ) $ 0.53 $ (0.01 ) $ 0.29 Diluted $ (0.08 ) $ 0.52 $ (0.01 ) $ 0.29 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 2,479 987 1,435 1,164 The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2020 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 29, 2020 82,540 $ 16,508 $ 189,716 $ (658,017 ) $ 923,622 $ (117,464 ) $ (2,434 ) $ 2,434 $ 354,365 Net loss — — — — (4,999 ) — — — (4,999 ) Other comprehensive loss, net of tax — — — — — (6,586 ) — — (6,586 ) Stock contribution to employee benefit plans and other 6 1 96 — — — — — 97 Restricted stock awards 13 3 (3 ) — — — — — — Treasury stock repurchases — — — (9,715 ) — — — — (9,715 ) Stock based compensation expense — — 3,184 — — — — — 3,184 Stock option exercises — — — — — — — — — Tax effect related to net share settlement of equity awards — — (147 ) — — — — — (147 ) Stock issued to, acquired for and distributed from rabbi trust 4 1 82 — — — (83 ) 83 83 Balance at May 31, 2020 82,563 $ 16,513 $ 192,928 $ (667,732 ) $ 918,623 $ (124,050 ) $ (2,517 ) $ 2,517 $ 336,282 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 income, 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 ) — — — — — — Stock based compensation expense — — 3,091 — — — — — 3,091 Stock option exercises 10 2 204 — — — — — 206 Tax effect related to net share settlement of equity awards — — (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 nine months ended May 31, 2020 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2019 81,919 $ 16,384 $ 181,213 $ (640,212 ) $ 915,466 $ (171,672 ) $ (3,070 ) $ 3,070 $ 301,179 Net loss — — — — (716 ) — — — (716 ) Other comprehensive income, net of tax — — — — — 51,289 — — 51,289 Stock contribution to employee benefit plans and other 17 3 351 — — — — — 354 Restricted stock awards 462 93 (93 ) — — — — — — Treasury stock repurchases — — — (27,520 ) — — — — (27,520 ) Stock based compensation expense — — 12,814 — — — — — 12,814 Stock option exercises 145 29 2,602 — — — — — 2,631 Tax effect related to net share settlement of equity awards — — (4,210 ) — — — — — (4,210 ) Stock issued to, acquired for and distributed from rabbi trust 20 4 251 — — — 553 (553 ) 255 Adoption of accounting standards (Note 1) — — — — 3,873 (3,667 ) — — 206 Balance at May 31, 2020 82,563 $ 16,513 $ 192,928 $ (667,732 ) $ 918,623 $ (124,050 ) $ (2,517 ) $ 2,517 $ 336,282 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 ) — — — — — — 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 standards — — — — 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

Income Taxes

Income Taxes	9 Months Ended
	May 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes 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 (loss) earnings before income taxes, income tax (benefit) expense and effective income tax rates from continuing operations are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 (Loss) earnings from continuing operations before income tax (benefit) expense $ (5,337 ) $ 31,820 $ 6,709 $ 20,231 Income tax (benefit) expense (407 ) 4,962 1,349 9,030 Effective income tax rate 7.6 % 15.6 % 20.1 % 44.6 % The Company’s (loss) earnings from continuing operations before income taxes includes earnings from foreign jurisdictions in excess of 70% of the consolidated total for the estimated full-year fiscal 2020 and 2019 . Overall, the annual effective tax rate is not significantly impacted by differences in foreign tax rates now that the U.S. tax rate of 21% is in line with the Company's average foreign tax rate. Both the current and prior-year effective income tax rates were impacted by impairment & divestiture charges (benefits) as well as accelerated debt issuance costs and purchase accounting charges in the current year ("one-time charges (benefits)"). Results included one-time charges (benefits) of $(1.2) million ( $(0.8) million ) after tax) and $(2.5) million ( $(1.8) million after tax) for the three and nine months ended May 31, 2020 , respectively. This compares to one-time charges (benefits) of $(13.0) million ( $(13.0) million after tax) and $14.0 million ( $14.0 million after tax) for the three and nine months ended May 31, 2019 , respectively. Excluding the one-time charges (benefits), the effective tax rate was 12.8% and 26.1% for the three months ended May 31, 2020 and 2019, respectively, and 14.5% and 26.2% for the nine months ended May 31, 2020 and 2019, respectively. The income tax expense without one-time charges (benefits) for the three and nine months ended May 31, 2020 is greatly impacted by decreased profitability due to the COVID-19 pandemic and the impact of non-recurring benefits related to the reduction in tax reserves due to the lapsing of statutes of limitations and valuation allowance releases associated with the ability to use tax attributes before expiration. On March 27, 2020, the U.S. government enacted tax legislation containing provisions to support businesses during the COVID-19 pandemic (the “CARES Act”), including deferment of the employer portion of certain payroll taxes, refundable payroll tax credits, and technical amendments to tax depreciation methods for qualified improvement property. The CARES Act did not have a material impact on our consolidated financial statements for the three or nine months ended May 31, 2020. We are currently evaluating the future impact of the CARES Act provisions on our consolidated financial statements.

Segment Information

Segment Information	9 Months Ended
	May 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information The Company is a global manufacturer of a broad range of industrial products and solutions. The IT&S reportable 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 Other operating segment is included for purposes of reconciliation of the respective balances below to the condensed consolidated financial statements. The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 Net Sales by Reportable Segment & Product Line Industrial Tools & Services Segment Product $ 67,957 $ 115,067 $ 257,685 $ 323,420 Service & Rental 24,908 51,665 94,134 141,488 92,865 166,732 351,819 464,908 Other Operating Segment 9,014 11,363 30,120 31,527 $ 101,879 $ 178,095 $ 381,939 $ 496,435 Operating Profit (Loss) Industrial Tools & Services Segment $ 7,639 $ 34,877 $ 54,263 $ 87,797 Other Operating Segment (790 ) 13,072 (2,017 ) (13,336 ) General Corporate (8,847 ) (9,770 ) (31,308 ) (32,395 ) $ (1,998 ) $ 38,179 $ 20,938 $ 42,066 May 31, 2020 August 31, 2019 Assets* Industrial Tools & Services Segment $ 622,113 $ 553,615 Other Operating Segment 62,105 54,484 General Corporate 167,317 230,597 $ 851,535 $ 838,696 *Excludes "Assets from discontinued operations" as of August 31, 2019. In addition to the impact of changes in foreign currency exchange rates, the comparability of segment and product line information is impacted by acquisition/divestiture activities, impairment and 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, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Note 14. Commitments and Contingencies The Company had outstanding letters of credit of $11.9 million and $18.2 million at May 31, 2020 and August 31, 2019 , respectively, the majority of which relate to commercial contracts and self-insured workers' compensation programs. As part of the Company's global sourcing strategy, we have entered into agreements with certain suppliers that require the supplier to maintain minimum levels of inventory to support certain products for which we require a short lead time to fulfill customer orders. We have the ability to notify the supplier that they no longer need to maintain the minimum level of inventory should we discontinue manufacturing of a product during the contract period, however, we must purchase the remaining minimum inventory levels the supplier was required to maintain within a defined period of time. 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, however, the Company does not believe it is probable that it will be required to satisfy these obligations. Future minimum lease payments for these leases at May 31, 2020 were $7.3 million associated with monthly payments extending to fiscal 2025. The Company has self-disclosed the sales to an 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 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 Netherlands investigation, the Company currently believes that there will be no material adverse effect on the Company's financial position, results of operations or cash flows.

Leases Leases

Leases Leases	9 Months Ended
	May 31, 2020
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Note 15. Leases The Company adopted ASC 842 on September 1, 2019 using a modified retrospective approach and as a result did not adjust prior periods. See Note 1, “Basis of Presentation” for further discussion of the adoption. As of May 31, 2020 , the Company had operating leases for real estate, vehicles, manufacturing equipment, IT equipment and office equipment. The Company did not have any financing leases during the three and nine months ended May 31, 2020 . Our real estate leases are generally for office, warehouse and manufacturing facilities typically ranging in term from 3 to 15 years and may contain renewal options for periods up to 5 years at our discretion. Our equipment leases are generally for vehicles, manufacturing and IT equipment typically ranging in term from 3 to 7 years and may contain renewal options for periods up to one year at our discretion. Our leases generally contain payments that are primarily fixed; however, certain lease arrangements contain variable payments, which are expensed as incurred and not included in the measurement of ROU assets and lease liabilities. These amounts include payments affected by changes in the Consumer Price Index and executory costs (such as real estate taxes, utilities and common-area maintenance), which are based on usage or performance. In addition, our leases generally do not include material residual value guarantees or material restrictive covenants. We determine if an arrangement contains a lease in whole or in part at the inception of the contract and identify classification of the lease as financing or operating. ROU assets represent our right to use an underlying asset for the lease term while lease liabilities represent our obligation to make lease payments arising from the lease. We account for the underlying operating lease asset at the individual lease level. Operating leases are recorded as operating lease ROU assets in “Other long-term assets” and operating lease liabilities in “Other current liabilities” and “Other long-term liabilities” of the Condensed Consolidated Balance Sheets. All leases greater than 12 months result in recognition of a ROU asset and a liability at the lease commencement date and are recorded at the present value of the future minimum lease payments over the lease term. The lease term is equal to the initial term at commencement plus any renewal or extension options that the Company is reasonably certain will be exercised. ROU assets at the date of commencement are equal to the amount of the initial lease liability, the initial direct costs incurred by the Company and any prepaid lease payments less any incentives received. Lease expense for operating leases is recognized on a straight-line basis over the lease term or remaining useful life. As most of our leases do not provide the information required to determine the implicit rate, we utilize a consolidated group incremental borrowing rate for all leases as the Company has centralized treasury operations. The incremental borrowing rate is derived through a combination of inputs such as the Company's credit rating, impact of collaborated borrowing capabilities and lease term. The Company considers contract modifications when there is a change to the contractual terms, scope of the lease or the consideration given. In the event the right to use an additional asset is granted and the lease payments associated with the additional asset are commensurate with the ROU asset’s standalone price, the modification is accounted for as a separate contract and the original contract remains unchanged. In the event that a single lease is modified, the Company reassesses the classification of the modified lease as of the effective date of the modification based on the modified terms and accounts for initial direct costs, lease incentives and any other payments made to or by the Company in connection with the modification in the same manner that items would be accounted for in connection with a new lease. If there is an additional ROU asset included, the lease term is extended or reduced, or the consideration is the only change in the contract, the Company reallocates the remaining consideration in the contract and remeasures the lease liability using a discount rate determined at the effective date of the modification. The remeasured lease liability for the modified lease is an adjustment to the corresponding ROU asset and does not impact the Condensed Consolidated Statements of Operations. In the event of a full or partial termination, the carrying value of the ROU asset decreases on a basis proportionate to the full or partial termination and any difference between the reduction in the lease liability and the proportionate reduction of the ROU asset is recognized as a gain or loss at the effective date of the modification. The Company elected not to recognize leases with the duration of less than one-year on its balance sheet and continues to expense such leases on a straight-line basis over the lease term. The components of lease expense for the three and nine months ended May 31, 2020 were as follows (in thousands): Three Months Ended May 31, 2020 Nine Months Ended May 31, 2020 Lease Cost: Operating lease cost $ 3,818 $ 11,966 Short-term lease cost 343 1,108 Variable lease cost 447 1,480 Supplemental cash flow and other information related to leases were as follows (in thousands): Nine Months Ended May 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,908 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 4,773 Supplemental balance sheet information related to leases were as follows (in thousands): May 31, 2020 Operating leases: Other long-term assets $ 50,911 Other current liabilities 12,203 Other long-term liabilities 39,939 Total operating lease liabilities $ 52,142 Weighted Average Remaining Lease Term (in years): Operating leases 7.6 years Weighted Average Discount Rate: Operating leases 4.36 % A summary of the future minimum lease payments due under operating leases with terms of more than one year at May 31, 2020 is as follows (in thousands): Operating Leases 2020 (excluding the nine months ended May 31, 2020) $ 3,910 2021 13,268 2022 9,454 2023 7,480 2024 5,955 Thereafter 21,862 Total minimum lease payments 61,928 Less imputed interest (9,786 ) Present value of net minimum lease payments $ 52,142 A summary of the future minimum lease payments due under operating leases with terms of more than one year at August 31, 2019 is as follows (in thousands): Operating Leases 2020 $ 15,792 2021 12,266 2022 10,111 2023 6,865 2024 5,177 Thereafter 21,620 Present value of net minimum lease payments $ 71,831

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements 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 on the balance sheet as a lease liability and a right-of-use (“ROU”) asset. The amendments also expanded disclosure requirements for key information about leasing arrangements. On September 1, 2019, the Company adopted the standard using a modified retrospective approach and elected the package of practical expedients allowing us to not reassess whether any expired or existing contracts contain leases, the lease classification for any expired or existing leases, and initial direct costs for leases that commenced prior to September 1, 2019. In addition, we elected not to recognize ROU assets or lease liabilities for leases containing terms of 12 months or less and not separate lease components from non-lease components for all asset classes. The Company updated its standard lease accounting policy to address the new standard, revised the Company’s business processes and controls to align to the updated policy and new standard and completed the implementation of and data input into the Company’s lease accounting software solution. The most significant impact of the standard on the Company was the recognition of a $60.8 million ROU asset and operating lease liability on the Condensed Consolidated Balance Sheets at adoption. The standard did not have a significant impact on our Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows. In addition, as a result of sale leaseback transactions in previous years for which gains were deferred and under the new standard would have been recognized, the Company recorded an increase to retained earnings of $0.2 million in the first quarter of fiscal 2020 , which represents the recognition of these previously deferred gains. See Note 15, “Leases” for further discussion of the Company’s operating leases. 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. The Company adopted the guidance on September 1, 2019 and recorded an increase to retained earnings with an offsetting increase in accumulated other comprehensive loss of $3.7 million on the adoption date.
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, 2020 August 31, 2019 Foreign currency translation adjustments $ 100,654 $ 151,115 Pension and other postretirement benefit plans, net of tax 23,396 20,557 Accumulated other comprehensive loss $ 124,050 $ 171,672
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, 2020 August 31, 2019 Land, buildings and improvements $ 32,128 $ 29,661 Machinery and equipment 137,097 140,083 Gross property, plant and equipment 169,225 169,744 Less: Accumulated depreciation (108,554 ) (113,015 ) Property, plant and equipment, net $ 60,671 $ 56,729

Basis of Presentation Schedule

Basis of Presentation Schedule of Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	May 31, 2020
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, 2020 August 31, 2019 Foreign currency translation adjustments $ 100,654 $ 151,115 Pension and other postretirement benefit plans, net of tax 23,396 20,557 Accumulated other comprehensive loss $ 124,050 $ 171,672

Basis of Presentation Property,

Basis of Presentation Property, Plant and Equipment (Tables)	9 Months Ended
	May 31, 2020
Property, Plant and Equipment [Line Items]
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, 2020 August 31, 2019 Land, buildings and improvements $ 32,128 $ 29,661 Machinery and equipment 137,097 140,083 Gross property, plant and equipment 169,225 169,744 Less: Accumulated depreciation (108,554 ) (113,015 ) Property, plant and equipment, net $ 60,671 $ 56,729

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenues (Tables)	9 Months Ended
	May 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 Revenues recognized at point in time $ 73,412 $ 117,175 $ 275,413 $ 335,314 Revenues recognized over time 28,467 60,920 106,526 161,121 Total $ 101,879 $ 178,095 $ 381,939 $ 496,435

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Assets and Liabilities (Tables)	9 Months Ended
	May 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2020 August 31, 2019 Receivables, which are included in accounts receivable, net $ 93,796 $ 125,883 Contract assets, which are included in other current assets 4,563 3,747 Contract liabilities, which are included in other current liabilities 2,233 3,707

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	May 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following summarizes restructuring reserve activity for the IT&S reportable segment and corporate (in thousands): Nine Months Ended May 31, 2020 Industrial Tools & Services Corporate Balance as of August 31, 2019 $ 2,912 $ — Restructuring charges 4,019 1,590 Cash payments (4,265 ) (871 ) Other non-cash uses of reserve (1) (556 ) (484 ) Impact of changes in foreign currency rates (23 ) — Balance as of May 31, 2020 $ 2,087 $ 235 (1) Majority of non-cash uses of reserve represents accelerated equity vesting with employee severance agreements. Nine Months Ended May 31, 2019 Industrial Tools & Services Corporate Balance as of August 31, 2018 $ 1,687 $ 46 Restructuring charges 1,136 — Cash payments (1,379 ) (46 ) Other non-cash uses of reserve (18 ) — Impact of changes in foreign currency rates (28 ) — Balance as of May 31, 2019 $ 1,398 $ —

Discontinued Operations & Other

Discontinued Operations & Other Divestiture Charges Discontinued Operations Balance Sheet and Statement of Operations (Tables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Net (Loss) Earnings from Discontinued Operations	$ (69)	$ 5,560	$ (6,076)	$ 6,518

Discontinued Operations & Oth_2

Discontinued Operations & Other Divestiture Charges Statement of Operations (Tables)	9 Months Ended
	May 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following represents the detail of "(Loss) earnings from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020* 2019 Net sales $ — $ 117,171 $ 67,010 $ 363,270 Cost of products sold — 87,224 49,749 272,456 Gross profit — 29,947 17,261 90,814 Selling, administrative and engineering expenses 116 16,801 11,567 54,184 Amortization of intangible assets — 1,573 — 5,142 Restructuring (benefit) charges — — (11 ) 446 Impairment & divestiture (benefit) charges (31 ) 2,392 28,699 18,711 Operating (loss) earnings (85 ) 9,181 (22,994 ) 12,331 Financing costs, net — 109 14 102 Other expense (income), net — 1,165 (104 ) 1,712 (Loss) earnings before income tax (benefit) expense (85 ) 7,907 (22,904 ) 10,517 Income tax (benefit) expense (16 ) 2,347 (16,828 ) 3,999 Net (loss) earnings from discontinued operations $ (69 ) $ 5,560 $ (6,076 ) $ 6,518 * "(Loss) earnings from discontinued operations, net of income taxes" for the periods presented in fiscal 2020 include the results of the EC&S segment for the two months ended October 31, 2019 (the divestiture date) as well as the ancillary impacts from certain retained liabilities subsequent to the divestiture. As a result of the classification of the segment as assets and liabilities held for sale for the two months ended October 31, 2019, the Company did not record amortization or depreciation expense in the results of operations in accordance with U.S. GAAP. Furthermore, the Company excluded EC&S segment employees from the fiscal 2020 bonus compensation plan, hence there are no expenses associated with the plan for that period.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	May 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended May 31, 2020 are as follows (in thousands): Industrial Tools & Services Other Total Balance as of August 31, 2019 $ 242,873 $ 17,542 $ 260,415 Acquisition of HTL Group (Note 4) 10,087 — 10,087 Impact of changes in foreign currency rates 658 9 667 Balance as of May 31, 2020 $ 253,618 $ 17,551 $ 271,169
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Table	The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands): May 31, 2020 August 31, 2019 Weighted Average Amortization Period (Years) Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Amortizable intangible assets: Customer relationships 14 $ 138,749 $ 102,344 $ 36,405 $ 126,229 $ 96,817 $ 29,412 Patents 12 13,922 12,769 1,153 13,227 12,276 951 Trademarks and tradenames* 12 3,153 2,070 1,083 4,513 2,921 1,592 Indefinite lived intangible assets: Tradenames N/A 24,192 — 24,192 20,420 — 20,420 $ 180,016 $ 117,183 $ 62,833 $ 164,389 $ 112,014 $ 52,375 *The decrease in the Gross Carrying Value and Accumulated Amortization of Trademarks and tradenames is a result of the Milwaukee Cylinder business being held for sale as of November 30, 2019 and the impairment charge discussed in Note 5, "Discontinued Operations and Other Divestiture Activities." included the Trademarks and tradenames associated with that business being fully impaired.

Product Warranty Costs (Tables)

Product Warranty Costs (Tables)	9 Months Ended
	May 31, 2020
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2020 and 2019 , respectively (in thousands): Nine Months Ended May 31, 2020 2019 Beginning balance $ 1,145 $ 931 Provision for warranties 354 1,099 Warranty payments and costs incurred (735 ) (806 ) Warranty activity for divested businesses (27 ) — Impact of changes in foreign currency rates 1 (22 ) Ending balance $ 738 $ 1,202

Debt (Tables)

Debt (Tables)	9 Months Ended
	May 31, 2020
Debt Disclosure [Abstract]
Long-Term Indebtedness	The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2020 August 31, 2019 Senior Credit Facility Revolver $ — $ — Term Loan — 175,000 Total Senior Credit Facility — 175,000 5.625% Senior Notes 287,559 287,559 Total Senior Indebtedness 287,559 462,559 Less: Current maturities of long-term debt — (7,500 ) Debt issuance costs (1,062 ) (2,114 ) Total long-term debt, less current maturities $ 286,497 $ 452,945

Derivatives Derivatives (Tables

Derivatives Derivatives (Tables)	9 Months Ended
	May 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Net foreign currency loss (included in "Other expense" in the Condensed Consolidated Statements of Operations) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 Foreign currency loss, net $ (842 ) $ (114 ) $ (1,393 ) $ (115 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	May 31, 2020
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, 2020 2019 2020 2019 Numerator: Net (loss) earnings from continuing operations $ (4,930 ) $ 26,858 $ 5,360 $ 11,201 Net (loss) earnings from discontinued operations (69 ) 5,560 (6,076 ) 6,518 Net (loss) earnings (4,999 ) 32,418 (716 ) 17,719 Denominator: Weighted average common shares outstanding - basic 59,826 61,422 60,012 61,232 Net effect of dilutive securities - stock based compensation plans — 418 346 469 Weighted average common shares outstanding - diluted $ 59,826 $ 61,840 $ 60,358 $ 61,701 (Loss) earnings per common share from continuing operations: Basic $ (0.08 ) $ 0.44 $ 0.09 $ 0.18 Diluted $ (0.08 ) $ 0.43 $ 0.09 $ 0.18 (Loss) earnings per common share from discontinued operations: Basic $ — $ 0.09 $ (0.10 ) $ 0.11 Diluted $ — $ 0.09 $ (0.10 ) $ 0.11 (Loss) earnings per common share: Basic $ (0.08 ) $ 0.53 $ (0.01 ) $ 0.29 Diluted $ (0.08 ) $ 0.52 $ (0.01 ) $ 0.29 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 2,479 987 1,435 1,164

Earnings per Share and Sharehol

Earnings per Share and Shareholders' Equity Shareholders Equity (Tables)	9 Months Ended
	May 31, 2020
Statement of Stockholders' Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	The following table illustrates the changes in the balances of each component of shareholders' equity for the three months ended May 31, 2020 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at February 29, 2020 82,540 $ 16,508 $ 189,716 $ (658,017 ) $ 923,622 $ (117,464 ) $ (2,434 ) $ 2,434 $ 354,365 Net loss — — — — (4,999 ) — — — (4,999 ) Other comprehensive loss, net of tax — — — — — (6,586 ) — — (6,586 ) Stock contribution to employee benefit plans and other 6 1 96 — — — — — 97 Restricted stock awards 13 3 (3 ) — — — — — — Treasury stock repurchases — — — (9,715 ) — — — — (9,715 ) Stock based compensation expense — — 3,184 — — — — — 3,184 Stock option exercises — — — — — — — — — Tax effect related to net share settlement of equity awards — — (147 ) — — — — — (147 ) Stock issued to, acquired for and distributed from rabbi trust 4 1 82 — — — (83 ) 83 83 Balance at May 31, 2020 82,563 $ 16,513 $ 192,928 $ (667,732 ) $ 918,623 $ (124,050 ) $ (2,517 ) $ 2,517 $ 336,282 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 income, 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 ) — — — — — — Stock based compensation expense — — 3,091 — — — — — 3,091 Stock option exercises 10 2 204 — — — — — 206 Tax effect related to net share settlement of equity awards — — (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 nine months ended May 31, 2020 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2019 81,919 $ 16,384 $ 181,213 $ (640,212 ) $ 915,466 $ (171,672 ) $ (3,070 ) $ 3,070 $ 301,179 Net loss — — — — (716 ) — — — (716 ) Other comprehensive income, net of tax — — — — — 51,289 — — 51,289 Stock contribution to employee benefit plans and other 17 3 351 — — — — — 354 Restricted stock awards 462 93 (93 ) — — — — — — Treasury stock repurchases — — — (27,520 ) — — — — (27,520 ) Stock based compensation expense — — 12,814 — — — — — 12,814 Stock option exercises 145 29 2,602 — — — — — 2,631 Tax effect related to net share settlement of equity awards — — (4,210 ) — — — — — (4,210 ) Stock issued to, acquired for and distributed from rabbi trust 20 4 251 — — — 553 (553 ) 255 Adoption of accounting standards (Note 1) — — — — 3,873 (3,667 ) — — 206 Balance at May 31, 2020 82,563 $ 16,513 $ 192,928 $ (667,732 ) $ 918,623 $ (124,050 ) $ (2,517 ) $ 2,517 $ 336,282 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 ) — — — — — — 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 standards — — — — 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

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
	May 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Effective Tax Rate [Table Text Block]	Comparative (loss) earnings before income taxes, income tax (benefit) expense and effective income tax rates from continuing operations are as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020 2019 (Loss) earnings from continuing operations before income tax (benefit) expense $ (5,337 ) $ 31,820 $ 6,709 $ 20,231 Income tax (benefit) expense (407 ) 4,962 1,349 9,030 Effective income tax rate 7.6 % 15.6 % 20.1 % 44.6 %

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	May 31, 2020
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, 2020 2019 2020 2019 Net Sales by Reportable Segment & Product Line Industrial Tools & Services Segment Product $ 67,957 $ 115,067 $ 257,685 $ 323,420 Service & Rental 24,908 51,665 94,134 141,488 92,865 166,732 351,819 464,908 Other Operating Segment 9,014 11,363 30,120 31,527 $ 101,879 $ 178,095 $ 381,939 $ 496,435 Operating Profit (Loss) Industrial Tools & Services Segment $ 7,639 $ 34,877 $ 54,263 $ 87,797 Other Operating Segment (790 ) 13,072 (2,017 ) (13,336 ) General Corporate (8,847 ) (9,770 ) (31,308 ) (32,395 ) $ (1,998 ) $ 38,179 $ 20,938 $ 42,066 May 31, 2020 August 31, 2019 Assets* Industrial Tools & Services Segment $ 622,113 $ 553,615 Other Operating Segment 62,105 54,484 General Corporate 167,317 230,597 $ 851,535 $ 838,696 *Excludes "Assets from discontinued operations" as of August 31, 2019.

Leases Components of Lease Expe

Leases Components of Lease Expense (Tables)	9 Months Ended
	May 31, 2020
Components of Lease Expense [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense for the three and nine months ended May 31, 2020 were as follows (in thousands): Three Months Ended May 31, 2020 Nine Months Ended May 31, 2020 Lease Cost: Operating lease cost $ 3,818 $ 11,966 Short-term lease cost 343 1,108 Variable lease cost 447 1,480

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information Related to Leases (Tables)	9 Months Ended
	May 31, 2020
Supplemental Cash Flow Information Related to Leases [Abstract]
Supplemental Cash Flow Information Related to Leases [Table Text Block]	Supplemental cash flow and other information related to leases were as follows (in thousands): Nine Months Ended May 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,908 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 4,773

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information Related to Leases (Tables)	9 Months Ended
	May 31, 2020
Supplemental Balance Sheet Information Related to Leases [Abstract]
Supplemental Balance Sheet Information Related to Leases [Table Text Block]	Supplemental balance sheet information related to leases were as follows (in thousands): May 31, 2020 Operating leases: Other long-term assets $ 50,911 Other current liabilities 12,203 Other long-term liabilities 39,939 Total operating lease liabilities $ 52,142 Weighted Average Remaining Lease Term (in years): Operating leases 7.6 years Weighted Average Discount Rate: Operating leases 4.36 %

Leases Schedule of Lease Liabil

Leases Schedule of Lease Liability Payments (Tables)	9 Months Ended
	May 31, 2020
Leases [Abstract]
Schedule of Lease Liability Payments	A summary of the future minimum lease payments due under operating leases with terms of more than one year at May 31, 2020 is as follows (in thousands): Operating Leases 2020 (excluding the nine months ended May 31, 2020) $ 3,910 2021 13,268 2022 9,454 2023 7,480 2024 5,955 Thereafter 21,862 Total minimum lease payments 61,928 Less imputed interest (9,786 ) Present value of net minimum lease payments $ 52,142 A summary of the future minimum lease payments due under operating leases with terms of more than one year at August 31, 2019 is as follows (in thousands): Operating Leases 2020 $ 15,792 2021 12,266 2022 10,111 2023 6,865 2024 5,177 Thereafter 21,620 Present value of net minimum lease payments $ 71,831

Basis of Presentation Accountin

Basis of Presentation Accounting Policies (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2020	Aug. 31, 2019	May 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements 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 on the balance sheet as a lease liability and a right-of-use (“ROU”) asset. The amendments also expanded disclosure requirements for key information about leasing arrangements. On September 1, 2019, the Company adopted the standard using a modified retrospective approach and elected the package of practical expedients allowing us to not reassess whether any expired or existing contracts contain leases, the lease classification for any expired or existing leases, and initial direct costs for leases that commenced prior to September 1, 2019. In addition, we elected not to recognize ROU assets or lease liabilities for leases containing terms of 12 months or less and not separate lease components from non-lease components for all asset classes. The Company updated its standard lease accounting policy to address the new standard, revised the Company’s business processes and controls to align to the updated policy and new standard and completed the implementation of and data input into the Company’s lease accounting software solution. The most significant impact of the standard on the Company was the recognition of a $60.8 million ROU asset and operating lease liability on the Condensed Consolidated Balance Sheets at adoption. The standard did not have a significant impact on our Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows. In addition, as a result of sale leaseback transactions in previous years for which gains were deferred and under the new standard would have been recognized, the Company recorded an increase to retained earnings of $0.2 million in the first quarter of fiscal 2020 , which represents the recognition of these previously deferred gains. See Note 15, “Leases” for further discussion of the Company’s operating leases. 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. The Company adopted the guidance on September 1, 2019 and recorded an increase to retained earnings with an offsetting increase in accumulated other comprehensive loss of $3.7 million on the adoption date.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 50,911
Retained earnings	918,623	$ 915,466
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	60,800
Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	206		$ 75
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	200
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 3,700

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Aug. 31, 2018
Condensed Statement of Income Captions [Line Items]
Foreign currency translation adjustments	$ 100,654		$ 151,115
Pension and other postretirement benefit plans, net of tax	23,396		20,557
Total shareholders’ equity	(336,282)	$ (354,365)	(301,179)	$ (607,424)	$ (585,630)	$ (558,712)
AOCI Attributable to Parent [Member]
Condensed Statement of Income Captions [Line Items]
Total shareholders’ equity	$ 124,050	$ 117,464	$ 171,672	$ 153,552	$ 139,752	$ 174,245

Basis of Presentation Schedul_2

Basis of Presentation Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Property, Plant and Equipment [Line Items]
Land, buildings and improvements	$ 32,128	$ 29,661
Machinery and equipment	137,097	140,083
Gross Property, Plant and Equipment	169,225	169,744
Less: Accumulated Depreciation	(108,554)	(113,015)
Property, Plant and Equipment, Net	$ 60,671	$ 56,729

Revenue Recognition Disaggreg_2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 101,879	$ 178,095	$ 381,939	$ 496,435
Revenue Recognized at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	73,412	117,175	275,413	335,314
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 28,467	$ 60,920	$ 106,526	$ 161,121

Revenue Recognition Contract _2

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 93,796	$ 125,883
Contract assets	4,563	3,747
Contract liabilities	2,233	$ 3,707
Revenue, remaining performance obligation, within next twelve months	$ 2,200

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Restructuring Cost and Reserve [Line Items]
Document Period End Date			May 31, 2020
Restructuring Reserve [Roll Forward]
Restructuring Charges	$ 2,448	$ 1,115	$ 6,348	$ 1,132
Restructuring Charges, including recorded in Cost of Goods Sold			7,200
Restructuring costs recorded in cost of products sold			800
Industrial Tools & Services [Member] [Domain]
Restructuring Reserve [Roll Forward]
Beginning Balance			2,912	1,687
Restructuring Charges			4,019	1,136
Cash payments			(4,265)	(1,379)
Other non-cash uses of reserve			(556)	(18)
Impact of changes in foreign currency rates			(23)	(28)
Ending Balance	2,087	1,398	2,087	1,398
General Corporate
Restructuring Reserve [Roll Forward]
Beginning Balance			0	46
Restructuring Charges			1,590	0
Cash payments			(871)	(46)
Other non-cash uses of reserve			(484)	0
Impact of changes in foreign currency rates			0	0
Ending Balance	235	0	235	$ 0
Reportable Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	2,500	$ 1,100	5,600
Other Operating Segment [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance			900
Restructuring Charges	800		1,600
Ending Balance	$ 600		$ 600

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jan. 07, 2020	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Business Acquisition [Line Items]
Cash paid for business acquisitions, net of cash acquired				$ 33,434	$ 0
Goodwill, Acquired During Period				10,087
Aggregate Reduction		$ (100)
Net Sales		101,879	$ 178,095	381,939	$ 496,435
HTL Group [Member]
Business Acquisition [Line Items]
Business Acquisition, Date of Acquisition Agreement	Jan. 7, 2020
Cash paid for business acquisitions, net of cash acquired	$ 33,400	33,300
Purchase Price Reduction		(100)
Goodwill, Acquired During Period	10,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	17,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	6,700
Net Sales		$ 1,900		$ 3,900
Tradenames | HTL Group [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	3,700
Customer relationships | HTL Group [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	13,100
Patents | HTL Group [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 700

Discontinued Operations & Oth_3

Discontinued Operations & Other Divestiture Charges Discontinued Operations & Divestiture Activities (Details) - USD ($)

Dec. 02, 2019

Oct. 31, 2019

Oct. 22, 2019

Sep. 20, 2019

Dec. 31, 2018

Dec. 19, 2018

May 31, 2020

Feb. 29, 2020

Nov. 30, 2019

May 31, 2019

Feb. 28, 2019

May 31, 2020

May 31, 2019

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business/product line

$ 10,226,000

$ 0

Impairment & divestiture (benefits) charges

$ (1,443,000)

$ (12,988,000)

(3,567,000)

14,031,000

Other Divestiture Charges

2,400,000

4,900,000

Impairment & Divestiture Benefit

$ 800,000

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 5. Discontinued Operations and Other Divestiture Activities Discontinued Operations On October 31, 2019 , as part of our overall strategy to become a pure-play industrial tools and services company, the Company completed the previously announced sale of the businesses comprising its former Engineered Components & Systems ("EC&S") segment to wholly owned subsidiaries of BRWS Parent LLC, a Delaware limited liability company and affiliate of One Rock Capital Partners II, LP, for a purchase price of approximately $214.5 million (which included approximately $3.0 million to be paid in four equal quarterly installments after closing, of which $0.7 million was received in the nine months ended May 31, 2020). In connection with the completion of the sale in the three months ended November 30, 2019, the Company recorded a net loss of $4.2 million comprised of a loss of $22.4 million representing the excess of the net assets (exclusive of deferred tax assets and liabilities associated with subsidiaries of the Company whose stock was sold as part of the transaction) as compared to the purchase price less costs to sell and the recognition in earnings of the cumulative effect of foreign currency exchange gains and losses during the quarter largely offset by an income tax benefit of $18.2 million associated with the write off of the net deferred tax liability on subsidiaries of the EC&S segment for which the stock was divested. The Company also recognized an additional $3.3 million of impairment & divestiture costs in the three months ended November 30, 2019 associated with the accelerated vesting of restricted stock awards associated with employees terminated as part of the transaction and $2.7 million of additional divestiture charges which were necessary to complete the transaction. In the three months ended February 29, 2020, the Company incurred approximately $0.3 million of additional miscellaneous divestiture related costs. In the three months ended ended May 31, 2020, the Company finalized the customary negotiation of final working capital amounts and received an additional $1.3 million of proceeds in June 2020. For the three months ended May 31, 2020, the Company recognized a negligible impairment & divestiture benefit associated with the transaction which was comprised of $0.4 million from the finalization of the working capital amounts offset by miscellaneous transaction related costs including finalization of termination costs for employees in certain foreign jurisdictions. During the first quarter of fiscal 2019 , the Company determined that the Precision Hayes business 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 within the second quarter of fiscal 2019 . The Company recorded $9.5 million of impairment & divestiture charges during the nine months ended May 31, 2019 , of which the charges represented the excess of the net book value of the net assets held for sale less the anticipated proceeds, less costs to sell. The Company completed the sale of the Cortland Fibron business on December 19, 2018 for $12.5 million in cash. During the three and nine months ended May 31, 2019, the Company recognized $0.0 million and $4.3 million of impairment & divestiture charges associated with the divestiture of the Cortland Fibron business. In addition to the above disclosed matters, the Company also incurred $2.4 million and $4.9 million of divestiture related costs during the three and nine months ended May 31, 2019 , respectively. As the aforementioned divestitures were a part of our strategic shift to become a pure-play industrial tools and services company, the results of their operations (including the stated impairment & divestiture charges) are recorded as a component of "Loss from discontinued operations" in the Condensed Consolidated Statements of Operations for all periods presented. The following represents the detail of "(Loss) earnings from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2020 2019 2020* 2019 Net sales $ — $ 117,171 $ 67,010 $ 363,270 Cost of products sold — 87,224 49,749 272,456 Gross profit — 29,947 17,261 90,814 Selling, administrative and engineering expenses 116 16,801 11,567 54,184 Amortization of intangible assets — 1,573 — 5,142 Restructuring (benefit) charges — — (11 ) 446 Impairment & divestiture (benefit) charges (31 ) 2,392 28,699 18,711 Operating (loss) earnings (85 ) 9,181 (22,994 ) 12,331 Financing costs, net — 109 14 102 Other expense (income), net — 1,165 (104 ) 1,712 (Loss) earnings before income tax (benefit) expense (85 ) 7,907 (22,904 ) 10,517 Income tax (benefit) expense (16 ) 2,347 (16,828 ) 3,999 Net (loss) earnings from discontinued operations $ (69 ) $ 5,560 $ (6,076 ) $ 6,518 * "(Loss) earnings from discontinued operations, net of income taxes" for the periods presented in fiscal 2020 include the results of the EC&S segment for the two months ended October 31, 2019 (the divestiture date) as well as the ancillary impacts from certain retained liabilities subsequent to the divestiture. As a result of the classification of the segment as assets and liabilities held for sale for the two months ended October 31, 2019, the Company did not record amortization or depreciation expense in the results of operations in accordance with U.S. GAAP. Furthermore, the Company excluded EC&S segment employees from the fiscal 2020 bonus compensation plan, hence there are no expenses associated with the plan for that period. Other Divestiture Activities On September 20, 2019 , the Company completed the sale of the UNI-LIFT product line, a component of our Milwaukee Cylinder business (IT&S segment) for initial net cash proceeds of $6.0 million , which resulted in an impairment & divestiture benefit of $4.6 million in the three months ended November 30, 2019. In the three months ended February 28, 2020, the Company recorded an additional benefit of $0.1 million related to agreement with the buyer on final working capital amounts and various other benefits. In March 2020, the buyer of the UNI-LIFT product line extended a long-term supply agreement with a significant customer. Pursuant to the sales agreement, this action triggered the requirement for the buyer to pay $1.5 million of contingent proceeds which was received by the Company in the three months ended May 31, 2020 and recorded as an "Impairment & divestiture benefit" within the Condensed Consolidated Statements of Operations. After the sale of the UNI-LIFT product line, the Company determined that the remaining Milwaukee Cylinder business 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 recorded impairment & divestiture charges of $4.6 million in the three months ended November 30, 2019 comprised of impairment charges of $2.5 million representing the excess of net assets held for sale compared to the anticipated proceeds less costs to sell, $1.9 million associated with our requirement to withdraw from the multi-employer pension plan associated with that business and $0.2 million of other divestiture related charges. The Company completed the divestiture of the Milwaukee Cylinder business on December 2, 2019 for a negligible amount. In the three months ended May 31, 2020 , the Company recorded inconsequential amounts of impairment & divestiture charges associated with changes in estimate on retained liabilities. The historical results of the Milwaukee Cylinder business, inclusive of the UNI-LIFT product line, (which had net sales of $4.3 million in the three months ended May 31, 2019 and $2.9 million and $7.1 million in the nine months ended May 31, 2020 and May 31, 2019 , respectively) are not material to the condensed consolidated financial results. On October 22, 2019 , the Company completed the sale of the Connectors product line (IT&S segment) for net cash proceeds of $2.7 million , which resulted in an impairment & divestiture benefit of $1.3 million in the three months ended November 30, 2019. During the three months ended February 28, 2020, the Company recorded $0.1 million of impairment & divestiture charges related to working capital adjustment. The historical results of the Connectors product line (which had net sales of $1.0 million in the three months ended May 31, 2019 and $0.2 million and $2.5 million in the nine months ended May 31, 2020 and May 31, 2019 , respectively) are not material to the condensed consolidated financial results. As of February 28, 2020, the Company determined that it was no longer probable that a loss would occur related to an outstanding legal matter associated with a previously divested business, as such, recorded an impairment & divestiture benefit of $0.8 million in the nine months ended May 31, 2020. In the three months ended May 31, 2019, the Company recognized an impairment & divestiture benefit of $13.0 million 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. As a result of triggering events identified as of November 30, 2018 and February 28, 2019, the Company recorded impairment & divestiture charges of $13.7 million for the nine months ended May 31, 2019, associated with Goodwill impairments in the Cortland U.S. business.

Engineered Components & Systems [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Oct. 31, 2019

Proceeds from sale of business/product line

$ 214,500,000

1,300,000

Quarterly Installment Payments

$ 3,000,000

700,000

Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax

$ (4,200,000)

Asset Impairment Charges

(22,400,000)

Income Tax Benefit Related to Write Down of Assets

18,200,000

Impairment & divestiture (benefits) charges

$ 300,000

3,300,000

Additional loss through final working capital

400,000

Other Divestiture Charges

2,700,000

Precision-Hayes International [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Dec. 31, 2018

Proceeds from sale of business/product line

$ 23,600,000

Impairment & divestiture (benefits) charges

9,500,000

Cortland Fibron [Domain]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Dec. 19, 2018

Proceeds from sale of business/product line

$ 12,500,000

Impairment & divestiture (benefits) charges

0

4,300,000

UNI-LIFT Product Line [Domain]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Sep. 20, 2019

Proceeds from sale of business/product line

$ 6,000,000

Impairment & divestiture (benefits) charges

$ 4,600,000

$ (100,000)

Contingent Proceeds

$ 1,500,000

Milwaukee Cylinder (excluding UNI-LIFT) [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Dec. 2, 2019

Impairment & divestiture (benefits) charges

4,600,000

Other Divestiture Charges

200,000

Goodwill, Impairment Loss

2,500,000

Charges Associated with Withdrawl of Pension Plan

1,900,000

Milwaukee Cylinder (including UNI-LIFT) [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Group, Not Discontinued Operation, annual revenue

4,300,000

$ 2,900,000

7,100,000

Connectors Product Line [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Date

Oct. 22, 2019

Proceeds from sale of business/product line

$ 2,700,000

Impairment & divestiture (benefits) charges

$ 1,300,000

$ 100,000

Disposal Group, Not Discontinued Operation, annual revenue

1,000,000

$ 200,000

2,500,000

Other Operating Segment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Goodwill, Impairment Loss

$ 13,700,000

Impairment & Divestiture Benefit

$ (13,000,000)

Discontinued Operations & Oth_4

Discontinued Operations & Other Divestiture Charges Divestitures Activities Discontinued Operations - Loss From Discontinued Operations (Details) - USD ($) $ in Thousands	Oct. 31, 2019	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business/product line				$ 10,226	$ 0
Net (Loss) Earnings from Discontinued Operations		$ (69)	$ 5,560	(6,076)	6,518
Engineered Components & Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business/product line	$ 214,500	1,300
Disposal Group, Including Discontinued Operation, Revenue		0	117,171	67,010	363,270
Disposal Group, Including Discontinued Operation, Costs of Goods Sold		0	87,224	49,749	272,456
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)		0	29,947	17,261	90,814
Disposal Group, Including Discontinued Operation, Selling, Administrative and Engineering Expenses		116	16,801	11,567	54,184
Disposal Group, Including Discontinued Operation, Amortization of Intangible Assets		0	1,573	0	5,142
Disposal Group, Including Discontinued Operation, Restructuring (Benefit) Charges		0	0	(11)	446
Disposal Group, Including Discontinued Operation, Impairment & Divestiture (Benefits) Charges		(31)	2,392	28,699	18,711
Disposal Group, Including Discontinued Operation, Operating (Loss) Earnings		(85)	9,181	(22,994)	12,331
Disposal Group, Including Discontinued Operation, Financing Costs (Benefits)		0	109	14	102
Disposal Group, Including Discontinued Operation, Other Expense		0	1,165	104	1,712
Disposal Group, Including Discontinued Operation, (Loss) Earnings Before Income Tax Benefit		(85)	7,907	(22,904)	10,517
Disposal Group, Including Discontinued Operation, Income Tax (Benefit) Expense		(16)	2,347	(16,828)	3,999
Net (Loss) Earnings from Discontinued Operations		$ (69)	$ 5,560	$ (6,076)	$ 6,518

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	May 31, 2020USD ($)
Goodwill [Roll Forward]
Balance as of August 31, 2019	$ 260,415
Goodwill, Acquired During Period	10,087
Impact of changes in foreign currency rates	667
Balance as of May 31, 2020	271,169
Industrial Tools & Services [Member] [Domain]
Goodwill [Roll Forward]
Balance as of August 31, 2019	242,873
Goodwill, Acquired During Period	10,087
Impact of changes in foreign currency rates	658
Balance as of May 31, 2020	253,618
Other Operating Segment [Member]
Goodwill [Roll Forward]
Balance as of August 31, 2019	17,542
Goodwill, Acquired During Period	0
Impact of changes in foreign currency rates	9
Balance as of May 31, 2020	$ 17,551

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	Aug. 31, 2019
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 117,183	$ 112,014
Gross Carrying Value	180,016	164,389
Net Book Value	62,833	52,375
Tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	0	0
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 24,192	20,420
Customer relationships
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	14 years
Gross Carrying Value	$ 138,749	126,229
Accumulated Amortization	102,344	96,817
Net Book Value	$ 36,405	29,412
Patents
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	12 years
Gross Carrying Value	$ 13,922	13,227
Accumulated Amortization	12,769	12,276
Net Book Value	$ 1,153	951
Trademarks and tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	12 years
Gross Carrying Value	$ 3,153	4,513
Accumulated Amortization	2,070	2,921
Net Book Value	$ 1,083	$ 1,592

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) $ in Millions	May 31, 2020USD ($)
Impaired Assets [Line Items]
Future Amortization Expense, Remainder of 2020	$ 2.2
Future Amortization Expense, 2021	8
Future Amortization Expense, 2022	7.2
Future Amortization Expense, 2023	5.7
Future Amortization Expense, 2024	4
Future Amortization Expense, 2025	3.3
Future Amortization Expense, Thereafter	$ 8.3

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets Summary of Asset Impairment Charges (Details) $ in Millions	9 Months Ended
	May 31, 2019USD ($)
Other Operating Segment [Member]
Impaired Assets [Line Items]
Goodwill, Impairment Loss	$ 13.7

Rollforward of Accrued Product

Rollforward of Accrued Product Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2020	May 31, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 1,145	$ 931
Provision for warranties	354	1,099
Warranty Payments and costs incurred	(735)	(806)
Standard and Extended Product Warranty Accrual, Activity for Divested Businesses	(27)	0
Impact of changes in foreign currency rates	1	(22)
Ending balance	$ 738	$ 1,202

Long-Term Indebtedness (Details

Long-Term Indebtedness (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2020	Aug. 31, 2019
Debt Instrument [Line Items]
Document Period End Date	May 31, 2020
Total Senior Indebtedness	$ 287,559	$ 462,559
Less: Current maturities of long-term debt	0	(7,500)
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	(1,062)	(2,114)
Long-term debt, net	286,497	452,945
Line of Credit
Debt Instrument [Line Items]
Total Senior Indebtedness	0	175,000
Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Total Senior Indebtedness	0	0
Line of Credit | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Total Senior Indebtedness	0	175,000
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 Millions	Jun. 15, 2020USD ($)	Apr. 16, 2012USD ($)	May 31, 2020USD ($)	May 31, 2020USD ($)	Feb. 28, 2019USD ($)
Debt Instrument [Line Items]
Document Period End Date				May 31, 2020
Debt Issuance Costs, Noncurrent, Net			$ 0.6	$ 0.6
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			400	400	$ 300
Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			200	200
Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Unused credit line Available for Borrowing, Amount			$ 394.9	$ 394.9
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 300
Debt instrument, interest rate		5.625%
Debt Instrument, Maturity Date			Jun. 15, 2022
Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.15%
Interest coverage ratio			3	3
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.125%
Minimum | Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%
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			0.30%
Leverage ratio			3.75	3.75
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.00%
Maximum | Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Maximum | Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.90%
Accordion [Domain]
Debt Instrument [Line Items]
Senior credit facility expansion option, available			$ 300	$ 300
Incremental Term Loan [Domain]
Debt Instrument [Line Items]
Senior credit facility expansion option, available			$ 200	$ 200
Subsequent Event [Member] | Line of Credit | Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 295

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($) $ in Millions	May 31, 2020	Aug. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ 0.1	$ 0.1
Senior Notes | 5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long-term debt	$ 287.9	$ 291.5

Derivatives Narrative (Details)

Derivatives Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019	Aug. 31, 2019
Derivative [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ (100)		$ (100)		$ (100)
Loss on Foreign Currency Fair Value Hedge Derivatives and Not Designated as Hedging Instruments at Fair Value	(842)	$ (114)	(1,393)	$ (115)
Gain on Derivative Used in Net Investment Hedge, after Tax	800		500
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	33,200		33,200		$ 13,300
Net Investment Hedging [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	$ 31,600		$ 31,600

Earnings per Share and Shareh_2

Earnings per Share and Shareholders' Equity Share Repurchase (Details) - USD ($)	3 Months Ended	9 Months Ended
	May 31, 2020	May 31, 2020	May 31, 2019	Aug. 31, 2019
Equity [Abstract]
Treasury Stock, Shares	22,799,230	22,799,230		21,455,568
Stock Repurchase Program, Authorized Amount	$ 667,700,000	$ 667,700,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	5,200,770	5,200,770
Stock Repurchased During Period, Shares	503,873	1,343,662
Stock Repurchases	$ (9,700,000)	$ (27,520,000)	$ 0

Capital Stock (Details)

Capital Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Earnings Per Share [Abstract]
Net (Loss) Earnings from Continuing Operations	$ (4,930)	$ 26,858	$ 5,360	$ 11,201
Net (Loss) Earnings from Discontinued Operations	(69)	5,560	(6,076)	6,518
Net (loss) earnings	$ (4,999)	$ 32,418	$ (716)	$ 17,719
Weighted average common shares outstanding - basic	59,826	61,422	60,012	61,232
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	418	346	469
Weighted Average Common Shares outstanding - diluted	59,826	61,840	60,358	61,701
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ (0.08)	$ 0.44	$ 0.09	$ 0.18
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	(0.08)	0.43	0.09	0.18
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	0	0.09	(0.10)	0.11
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	0	0.09	(0.10)	0.11
Earnings Per Share, Basic	(0.08)	0.53	(0.01)	0.29
(Loss) Earnings Per Share, Diluted	$ (0.08)	$ 0.52	$ (0.01)	$ 0.29
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)	2,479	987	1,435	1,164

Earnings per Share and Shareh_3

Earnings per Share and Shareholders' Equity Shareholders' Equity (Details) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019	Aug. 31, 2018
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 336,282,000	$ 607,424,000	$ 336,282,000	$ 607,424,000	$ 354,365,000	$ 301,179,000	$ 585,630,000	$ 558,712,000
Net (loss) earnings	(4,999,000)	32,418,000	(716,000)	17,719,000
Other Comprehensive (Loss) Income, Net of Tax	(6,586,000)	(13,800,000)	51,289,000	20,693,000
Stock Issued During Period, Value, Employee Benefit Plan	97,000	115,000	354,000	359,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	0	0	0
Stock Repurchased During Period, Value	9,715,000
Payments for Repurchase of Common Stock	9,700,000		27,520,000	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,184,000	3,091,000	12,814,000	10,253,000
Stock Issued During Period, Value, Stock Options Exercised	0	206,000	2,631,000	993,000
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	(147,000)	(322,000)	(4,210,000)	(1,811,000)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	83,000	86,000	255,000	431,000
Adoption of Accounting Standards	918,623,000		918,623,000			$ 915,466,000
Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
Adoption of Accounting Standards	$ 206,000	$ 75,000	$ 206,000	$ 75,000
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	82,563	81,880	82,563	81,880	82,540	81,919	81,832	81,424
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 16,513,000	$ 16,374,000	$ 16,513,000	$ 16,374,000	$ 16,508,000	$ 16,384,000	$ 16,364,000	$ 16,285,000
Stock Issued During Period, Shares, Employee Benefit Plan	6	5	17	15
Stock Issued During Period, Value, Employee Benefit Plan	$ 1,000	$ 1,000	$ 3,000	$ 3,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross	13	28	462	366
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 3,000	$ 6,000	$ 93,000	$ 71,000
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	0	10	145	45
Stock Issued During Period, Value, Stock Options Exercised	$ 0	$ 2,000	$ 29,000	$ 9,000
Stock Issued To Acquired For And Distributed From Rabbi Trust	4	5	20	30
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 1,000	$ 1,000	$ 4,000	$ 6,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	192,928,000	177,584,000	192,928,000	177,584,000	189,716,000	181,213,000	174,418,000	167,448,000
Stock Issued During Period, Value, Employee Benefit Plan	96,000	114,000	351,000	356,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	(3,000)	(6,000)	(93,000)	(71,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,184,000	3,091,000	12,814,000	10,253,000
Stock Issued During Period, Value, Stock Options Exercised	0	204,000	2,602,000	984,000
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	(147,000)	(322,000)	(4,210,000)	(1,811,000)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	82,000	85,000	251,000	425,000
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(667,732,000)	(617,731,000)	(667,732,000)	(617,731,000)	(658,017,000)	(640,212,000)	(617,731,000)	(617,731,000)
Stock Repurchased During Period, Value	9,715,000		27,520,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	918,623,000	1,184,749,000	918,623,000	1,184,749,000	923,622,000	915,466,000	1,152,331,000	1,166,955,000
Net (loss) earnings	(4,999,000)	32,418,000	(716,000)	17,719,000
Retained Earnings [Member] | Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
Adoption of Accounting Standards	3,873,000	75,000	3,873,000	75,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(124,050,000)	(153,552,000)	(124,050,000)	(153,552,000)	(117,464,000)	(171,672,000)	(139,752,000)	(174,245,000)
Other Comprehensive (Loss) Income, Net of Tax	(6,586,000)	(13,800,000)	51,289,000	20,693,000
AOCI Attributable to Parent [Member] | Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
Adoption of Accounting Standards	(3,667,000)		(3,667,000)
Stock held in trust [member] [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(2,517,000)	(3,075,000)	(2,517,000)	(3,075,000)	(2,434,000)	(3,070,000)	(2,989,000)	(2,450,000)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	(83,000)	(86,000)	553,000	(625,000)
Deferred Compensation, Share-based Payments [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	2,517,000	3,075,000	2,517,000	3,075,000	$ 2,434,000	$ 3,070,000	$ 2,989,000	$ 2,450,000
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 83,000	$ 86,000	$ (553,000)	$ 625,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Income Tax Disclosure Additional Details [Table] [Line Items]
(Loss) earnings from continuing operations before income tax (benefit) expense	$ (5,337)	$ 31,820	$ 6,709	$ 20,231
Income tax (benefit) expense	$ (407)	$ 4,962	$ 1,349	$ 9,030
Effective Income Tax Rate Reconciliation, Percent	7.60%	15.60%	20.10%	44.60%
Earnings from Foreign Jurisdictions, Percent			70.00%
Federal Statutory Income Tax Rate, Percent			21.00%
One-time Charges (Benefits)	$ (1,200)	$ (13,000)	$ (2,500)	$ 14,000
One-time charges (benefits), net of tax	$ (800)	$ (13,000)	$ (1,800)	$ 14,000
Effective Income Tax Rate, Percent, Excluding Impairment & Divestiture Charges	12.80%	26.10%	14.50%	26.20%

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, 2020	May 31, 2019	May 31, 2020	May 31, 2019	Aug. 31, 2019
Segment Reporting Information [Line Items]
Net Sales	$ 101,879	$ 178,095	$ 381,939	$ 496,435
Operating Profit (Loss)	(1,998)	38,179	20,938	42,066
Assets	851,535		851,535		$ 1,124,274
Assets of continuing operations	851,535		851,535		838,696
Industrial Tools & Services [Member] [Domain]
Segment Reporting Information [Line Items]
Net Sales	92,865	166,732	351,819	464,908
Operating Profit (Loss)	7,639	34,877	54,263	87,797
Assets	622,113		622,113		553,615
Products [Member]
Segment Reporting Information [Line Items]
Net Sales	67,957	115,067	257,685	323,420
Service & Rental [Member]
Segment Reporting Information [Line Items]
Net Sales	24,908	51,665	94,134	141,488
Other Operating Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	9,014	11,363	30,120	31,527
Operating Profit (Loss)	(790)	13,072	(2,017)	(13,336)
Assets	62,105		62,105		54,484
General Corporate
Segment Reporting Information [Line Items]
Operating Profit (Loss)	(8,847)	$ (9,770)	(31,308)	$ (32,395)
Assets	$ 167,317		$ 167,317		$ 230,597

Contingencies and Litigation -

Contingencies and Litigation - Additional Information (Details) - USD ($) $ in Millions	May 31, 2020	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 11.9	$ 18.2
Contractual Obligation, Future Minimum Payments Due, Remainder of Lease Payments	$ 7.3

Leases Components of Lease Ex_2

Leases Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	May 31, 2020	May 31, 2020
Components of Lease Expense [Abstract]
Operating Lease, Cost	$ 3,818	$ 11,966
Short-term Lease, Cost	343	1,108
Variable Lease, Cost	$ 447	$ 1,480

Leases Supplemental Cash Flow_2

Leases Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	9 Months Ended
	May 31, 2020USD ($)
Supplemental Cash Flow Information Related to Leases [Abstract]
Operating Lease, Payments	$ 11,908
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 4,773

Leases Supplemental Balance S_2

Leases Supplemental Balance Sheet Information Related to Leases (Details) $ in Thousands	May 31, 2020USD ($)
Supplemental Balance Sheet Information Related to Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 50,911
Operating Lease, Liability, Current	12,203
Operating Lease, Liability, Noncurrent	39,939
Operating Lease, Liability	$ 52,142
Operating Lease, Weighted Average Remaining Lease Term	7 years 7 months 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.36%

Leases Leases (Details)

Leases Leases (Details) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Fiscal 2020	$ 3,910	$ 15,792
Lessee, Operating Lease, Liability, Payments, Due Fiscal 2021	13,268	12,266
Lessee, Operating Lease, Liability, Payments, Due Fiscal 2022	9,454	10,111
Lessee, Operating Lease, Liability, Payments, Due Fiscal 2023	7,480	6,865
Lessee, Operating Lease, Liability, Payments, Due Fiscal 2024	5,955	5,177
Lessee, Operating Lease, Liability, Payments, Due Thereafter	21,862	21,620
Lessee, Operating Lease, Liability, to be Paid	61,928	$ 71,831
Finance Lease, Liability, Undiscounted Excess Amount	(9,786)
Operating Lease, Liability	$ 52,142