Enerpac Tool (EPAC) 10-Q 23 Jun 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	May 31, 2023	Jun. 16, 2023	Aug. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2023
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		56,103,724
Amendment Flag	false
Document Fiscal Year Focus	2023
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	$ 0.20		$ 0.20
Common Stock, Shares Authorized	168,000,000		168,000,000
Common Stock, Shares, Issued	83,752,329		83,397,458

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Income Statement [Abstract]
Net Sales	$ 156,253	$ 151,894	$ 437,595	$ 419,395
Cost of products sold	78,395	79,847	221,464	227,741
Gross profit	77,858	72,047	216,131	191,654
Selling, General and Administrative Expense	48,810	63,095	154,116	162,240
Amortization of intangible assets	1,357	1,792	4,075	5,678
Restructuring Charges	2,252	517	6,220	5,086
Impairment & divestiture (benefits) charges	0	0	0	1,116
Operating profit	25,439	6,643	51,720	17,534
Financing costs, net	3,250	951	9,170	2,668
Other expense, net	525	254	1,948	1,004
Income tax (benefit) expense	4,688	1,377	10,058	4,495
Net Earnings from Continuing Operations	16,976	4,061	30,544	9,367
Net (Loss) Earnings from Discontinued Operations	(4,596)	(2,418)	(6,214)	(3,715)
Net (loss) earnings	$ 12,380	$ 1,643	$ 24,330	$ 5,652
Earnings (loss) per share
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ 0.30	$ 0.07	$ 0.54	$ 0.16
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	0.30	0.07	0.53	0.15
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	(0.08)	(0.04)	(0.11)	(0.06)
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	(0.08)	(0.04)	(0.11)	(0.06)
(Loss) Earnings Per Share, Basic	0.22	0.03	0.43	0.09
(Loss) Earnings Per Share, Diluted	$ 0.22	$ 0.03	$ 0.42	$ 0.09
Weighted average common shares outstanding
Weighted average common shares outstanding - basic	57,052	60,227	56,993	60,292
Weighted Average Common Shares outstanding - diluted	57,432	60,610	57,417	60,640
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 21,664	$ 5,438	$ 40,602	$ 13,862

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Statement [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	$ (542)	$ 0	$ 5	$ 0
Net (loss) earnings	12,380	1,643	24,330	5,652
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	2,420	(16,397)	8,918	(25,258)
Pension and other postretirement benefit plans	115	367	337	928
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	(542)	0	5	0
Other Comprehensive (Loss) Income, Net of Tax	1,993	(16,030)	9,260	(24,330)
Comprehensive (loss) income	$ 14,373	$ (14,387)	$ 33,590	$ (18,678)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2023	Aug. 31, 2022
Current assets
Cash and cash equivalents	$ 142,001	$ 120,699
Accounts receivable, net	103,565	106,747
Inventories, net	93,037	83,672
Other current assets	34,838	31,262
Total current assets	373,441	342,380
Property, plant and equipment, net	41,783	41,372
Goodwill	264,686	257,949
Other intangible assets, net	39,084	41,507
Other long-term assets	74,080	74,104
Total assets	793,074	757,312
Current liabilities
Trade accounts payable	47,151	72,524
Accrued compensation and benefits	28,567	21,390
Long-term Debt, Current Maturities	3,125	0
Short-Term Debt	0	4,000
Income taxes payable	5,982	4,594
Other current liabilities	55,398	50,680
Total current liabilities	140,223	153,188
Long-term debt, net	231,545	200,000
Deferred Income Taxes	8,226	7,355
Pension and postretirement benefit liabilities	11,492	11,941
Other long-term liabilities	64,969	66,217
Total liabilities	456,455	438,701
Shareholders’ equity
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 83,752,329 and 83,397,458 shares, respectively	16,750	16,679
Additional paid-in capital	218,164	212,986
Treasury stock, at cost, 27,402,654 and 26,558,965 shares, respectively	(763,675)	(742,844)
Retained earnings	991,081	966,751
Accumulated other comprehensive loss	(125,701)	(134,961)
Stock held in trust	(3,405)	(3,209)
Deferred compensation liability	3,405	3,209
Total shareholders' equity	336,619	318,611
Total liabilities and shareholders’ equity	$ 793,074	$ 757,312

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - Common Class A - shares	May 31, 2023	Aug. 31, 2022
Statement [Line Items]
Common Stock, Shares Authorized	168,000,000	168,000,000
Common Stock, Shares, Issued	83,752,329	83,397,458

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022	Aug. 31, 2022	Aug. 31, 2021
Operating Activities
Net (loss) earnings	$ 12,380	$ 1,643	$ 24,330	$ 5,652
Net (Loss) Earnings from Discontinued Operations	(4,596)	(2,418)	(6,214)	(3,715)
Net Earnings from Continuing Operations	16,976	4,061	30,544	9,367
Impairment & divestiture (benefits) charges	0	0	0	1,116
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization			12,503	14,983
Stock-based compensation expense			6,482	12,117
Provision for deferred income taxes			769	1,568
Amortization of debt issuance costs			756	360
Increase (Decrease) in Receivable Reserve			0	13,856
Other Noncash Income (Expense)			588	(466)
Changes in components of working capital and other, excluding acquisitions and divestitures:
Accounts receivable			4,430	(31,153)
Inventories			(7,073)	(15,913)
Trade accounts payable			(26,198)	1,611
Prepaid expenses and other assets			(5,348)	5,760
Income tax accounts			4,621	(3,208)
Accrued compensation and benefits			6,477	396
Other accrued liabilities			(3,990)	(2,879)
Cash provided by (used in) operating activities, Continuing Operations			24,561	7,515
Cash (used in) provided by operating activities, Discontinued Operations			2,470	(319)
Cash (Used in) Provided By Operating Activities			27,031	7,196
Investing Activities
Capital expenditures			(8,391)	(6,970)
Proceeds from sale of property, plant and equipment			595	1,158
Cash used in investing activities, Continuing Operations			(7,796)	(5,812)
Cash Provided by Investing Activities			(7,796)	(5,812)
Financing Activities
Borrowings on Revolving Credit			60,000	45,000
Principal Repayment on Revolving Credit Facility			(24,000)	(15,000)
Principal repayments on term loan			(625)	0
Taxes paid related to the net share settlement of equity awards			(2,673)	(3,378)
Stock option exercises and other			1,212	217
Cash dividend			(2,274)	(2,409)
Net Cash Used in Financing Activities, Continuing Operations			4,323	(11,865)
Cash used in financing activities			4,323	(11,865)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total			21,302	(16,647)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations			(2,256)	(6,166)
Proceeds from (Repayments of) Short-Term Debt, Maturing in Three Months or Less			(4,000)	0
Payments of Debt Issuance Costs			(2,486)	0
Payments for Repurchase of Common Stock			(20,831)	(36,295)
Proceeds from Issuance of Term Loan			200,000	0
Payment for redemption of term loan			(200,000)	0
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	$ 142,001	$ 123,705	$ 142,001	$ 123,705	$ 120,699	$ 140,352

Basis of Presentation Schedule

Basis of Presentation Schedule of Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	May 31, 2023
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, 2023 August 31, 2022 Foreign currency translation adjustments $ 106,280 $ 116,078 Pension and other postretirement benefit plans 19,963 18,883 Cash flow hedges (542) — Accumulated other comprehensive loss $ 125,701 $ 134,961

Earnings per Share and Sharehol

Earnings per Share and Shareholders' Equity Shareholders Equity - USD ($) shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	Aug. 31, 2022	Aug. 31, 2021
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 nine months ended May 31, 2023 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2022 83,397 $ 16,679 $ 212,986 $ (742,844) $ 966,751 $ (134,961) $ (3,209) $ 3,209 $ 318,611 Net earnings — — — — 7,453 — — — 7,453 Other comprehensive loss, net of tax — — — — — 6,024 — — 6,024 Stock contribution to employee benefit plans and other 3 1 41 — — — — — 42 Vesting of equity awards 84 17 (17) — — — — — — Stock based compensation expense — — 2,155 — — — — — 2,155 Stock option exercises 42 8 922 — — — — — 930 Tax effect related to net share settlement of equity awards — — (969) — — — — — (969) Stock issued to, acquired for and distributed from rabbi trust 3 1 76 — — — (30) 30 77 Balance at November 30, 2022 83,529 $ 16,706 $ 215,194 $ (742,844) $ 974,204 $ (128,937) $ (3,239) $ 3,239 $ 334,323 Net earnings — — — — 4,497 — — — 4,497 Other comprehensive income, net of tax — — — — — 1,243 — — 1,243 Stock contribution to employee benefit plans and other 2 — 49 — — — — — 49 Vesting of equity awards 173 34 (34) — — — — — — Stock based compensation expense — — 2,120 — — — — — 2,120 Tax effect related to net share settlement of equity awards — — (1,505) — — — — — (1,505) Stock issued to, acquired for and distributed from rabbi trust 28 6 55 — — — (81) 81 61 Balance at February 28, 2023 83,732 $ 16,746 $ 215,879 $ (742,844) $ 978,701 $ (127,694) $ (3,320) $ 3,320 $ 340,788 Net earnings — — — — 12,380 — — — 12,380 Other comprehensive loss, net of tax — — — — — 1,993 — — 1,993 Stock contribution to employee benefit plans and other 2 1 58 — — — — — 59 Vesting of equity awards 12 2 (2) — — — — — — Treasury stock repurchases — — — (20,831) — — — — (20,831) Stock based compensation expense — — 2,207 — — — — — 2,207 Stock option exercises 2 — 43 — — — — — 43 Tax effect related to net share settlement of equity awards — — (110) — — — — — (110) Stock issued to, acquired for and distributed from rabbi trust 4 1 89 — — — (85) 85 90 Balance at May 31, 2023 83,752 $ 16,750 $ 218,164 $ (763,675) $ 991,081 $ (125,701) $ (3,405) $ 3,405 $ 336,619 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2022 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2021 83,022 $ 16,604 $ 202,971 $ (667,732) $ 953,339 $ (92,984) $ (3,067) $ 3,067 $ 412,198 Net earnings — — — — 2,788 — — — 2,788 Other comprehensive income, net of tax — — — — — (10,044) — — (10,044) Stock contribution to employee benefit plans and other 2 1 84 — — — — — 85 Vesting of equity awards 67 17 (17) — — — — — — Stock based compensation expense — — 6,147 — — — — — 6,147 Tax effect related to net share settlement of equity awards — — (1,393) — — — — — (1,393) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (25) 25 25 Balance at November 30, 2021 83,092 $ 16,622 $ 207,817 $ (667,732) $ 956,127 $ (103,028) $ (3,092) $ 3,092 $ 409,806 Net earnings — — — — 1,221 — — — 1,221 Other comprehensive income, net of tax — — — — — 1,744 — — 1,744 Stock contribution to employee benefit plans and other 5 1 64 — — — — — 65 Vesting of equity awards 247 46 (46) — — — — — — Stock based compensation expense — — 2,142 — — — — — 2,142 Tax effect related to net share settlement of equity awards — — (1,980) — — — — — (1,980) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — 3 (3) 25 Balance at February 28, 2022 83,345 $ 16,669 $ 208,022 $ (667,732) $ 957,348 $ (101,284) $ (3,089) $ 3,089 $ 413,023 Net earnings — — — — 1,643 — — — 1,643 Other comprehensive income, net of tax — — — — — (16,030) — — (16,030) Stock contribution to employee benefit plans and other 4 1 65 — — — — — 66 Treasury stock repurchases — — — (36,295) — — — — (36,295) Stock based compensation expense — — 3,828 — — — — — 3,828 Tax effect related to net share settlement of equity awards — — (3) — — — — — (3) Stock issued to, acquired for and distributed from rabbi trust 1 — 40 — — — (59) 59 40 Balance at May 31, 2022 83,350 $ 16,670 $ 211,952 $ (704,027) $ 958,991 $ (117,314) $ (3,148) $ 3,148 $ 366,272
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 336,619	$ 340,788	$ 334,323	$ 366,272	$ 413,023	$ 409,806	$ 336,619	$ 318,611	$ 412,198
Net (loss) earnings	12,380	4,497	7,453	1,643	1,221	2,788	24,330
Other Comprehensive (Loss) Income, Net of Tax	1,993	1,243	6,024	(16,030)	1,744	(10,044)	9,260
Stock Issued During Period, Value, Employee Benefit Plan	59	49	42	66	65	85
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	0	0		0	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,207	2,120	2,155	3,828	2,142	6,147
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	90	61	77	40	25	25
Adoption of Accounting Standards	991,081						$ 991,081	$ 966,751
Adjustments to Additional Paid in Capital, Other	(110)	$ (1,505)	(969)	(3)	$ (1,980)	$ (1,393)
Stock Issued During Period, Value, Stock Options Exercised	43		$ 930
Treasury Stock, Value, Acquired, Cost Method	$ (20,831)			$ (36,295)
Common Stock [Member]
Statement [Line Items]
Stock Issued During Period, Shares, New Issues	83,752	83,732	83,529	83,350	83,345	83,092	83,752	83,397	83,022
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 16,750	$ 16,746	$ 16,706	$ 16,670	$ 16,669	$ 16,622	$ 16,750	$ 16,679	$ 16,604
Stock Issued During Period, Shares, Employee Benefit Plan	2	2	3	4	5	2
Stock Issued During Period, Value, Employee Benefit Plan	$ 1		$ 1	$ 1	$ 1	$ 1
Stock Issued During Period, Shares, Restricted Stock Award, Gross	12	173	84		247	67
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ (2)	$ (34)	$ (17)		$ (46)	$ (17)
Stock Issued To Acquired For And Distributed From Rabbi Trust	4	28	3	1	1	1
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 1	$ 6	$ 1			$ 0
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	2		42
Stock Issued During Period, Value, Stock Options Exercised			$ 8
Additional Paid-in Capital [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 218,164	215,879	215,194	$ 211,952	$ 208,022	207,817	218,164	212,986	202,971
Stock Issued During Period, Value, Employee Benefit Plan	58	49	41	65	64	84
Stock Issued During Period, Value, Restricted Stock Award, Gross	2	34	(17)		46	17
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,207	2,120	2,155	3,828	2,142	6,147
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	89	55	76	40	25	25
Adjustments to Additional Paid in Capital, Other	(110)	(1,505)	(969)	(3)	(1,980)	(1,393)
Stock Issued During Period, Value, Stock Options Exercised	43		922
Retained Earnings [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	991,081	978,701	974,204	958,991	957,348	956,127	991,081	966,751	953,339
Net (loss) earnings	12,380	4,497	7,453	1,643	1,221	2,788
AOCI Attributable to Parent [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(125,701)	(127,694)	(128,937)	(117,314)	(101,284)	(103,028)	(125,701)	(134,961)	(92,984)
Other Comprehensive (Loss) Income, Net of Tax	1,993	1,243	6,024	(16,030)	1,744	(10,044)
Stock held in trust [member] [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(3,405)	(3,320)	(3,239)	(3,148)	(3,089)	(3,092)	(3,405)	(3,209)	(3,067)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	(85)	(81)	(30)	(59)	3	(25)
Deferred Compensation, Share-based Payments [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,405	3,320	3,239	3,148	3,089	3,092	3,405	3,209	3,067
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	85	81	30	59	(3)	25
Treasury Stock, Common
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(763,675)	$ (742,844)	$ (742,844)	(704,027)	$ (667,732)	$ (667,732)	$ (763,675)	$ (742,844)	$ (667,732)
Treasury Stock, Value, Acquired, Cost Method	$ 20,831			$ 36,295

Basis of Presentation

Basis of Presentation	9 Months Ended
	May 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation General Enerpac Tool Group Corp. ("Company") is a premier industrial tools, services, technology and solutions company serving a broad and diverse set of customers in more than 100 countrie s. The Company has one reportable segment, the Industrial Tools & Services Segment ("IT&S"), and an Other operating segment, which does not meet the criteria to be considered a reportable segment. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The condensed consolidated balance sheet data as of August 31, 2022 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 2022 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, 2023 are not necessarily indicative of the results that may be expected for the entire fiscal year ending August 31, 2023. The Company has historically sold products to companies located in or associated with Russia. In response to the Russia-Ukraine conflict, many countries, including the countries that are members of the North Atlantic Treaty Organization ("NATO"), including the United States, have initiated sanctions and export controls targeting Russia and entities associated with Russia which significantly limits our ability to serve certain customers and collect on our outstanding receivables. The duration and extent to which the trade sanctions against Russia effect the Company's business will depend on future developments which still remain uncertain. Recently Issued Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends ASC 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022. The Company will adopt this guidance in the event of a business combination subsequent to the effective date of the guidance. Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2023 August 31, 2022 Foreign currency translation adjustments $ 106,280 $ 116,078 Pension and other postretirement benefit plans 19,963 18,883 Cash flow hedges (542) — Accumulated other comprehensive loss $ 125,701 $ 134,961 Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2023 August 31, 2022 Land, buildings and improvements $ 14,957 $ 14,121 Machinery and equipment 149,637 141,571 Gross property, plant and equipment 164,594 155,692 Less: Accumulated depreciation (122,811) (114,320) Property, plant and equipment, net $ 41,783 $ 41,372

Revenue Recognition Revenue fro

Revenue Recognition Revenue from Contract Customers (Notes)	9 Months Ended
	May 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2. Revenue from Contracts with Customers 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 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, 2023 2022 2023 2022 Revenues recognized at point in time $ 127,216 $ 117,155 $ 350,995 $ 322,247 Revenues recognized over time 29,037 34,738 86,600 97,148 Total $ 156,253 $ 151,894 $ 437,595 $ 419,395 Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2023 August 31, 2022 Receivables, which are included in accounts receivable, net $ 103,565 $ 106,747 Contract assets, which are included in other current assets 2,995 2,397 Contract liabilities, which are included in other current liabilities 2,795 2,804 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. Accounts receivable, net is recorded at face amount of customer receivables less an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for expected losses as a result of customers’ inability to make required payments. Management evaluates the aging of customer receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of receivables that may be collected in the future and records the appropriate provision. The allowance for doubtful accounts was $17.2 million and $17.5 million at May 31, 2023 and August 31, 2022, respectively. As indicated in the "Concentration of Credit Risk" section below, as of May 31, 2023 and 2022, the Company was exposed to a concentration of credit risk with an agent as a result of its continued payment delinquency. During the three months ended May 31, 2022, the Company recorded through bad debt expense (included in "Selling, general and administrative expenses" in the Condensed Consolidated Statements of Operations) an additional reserve of $10.8 million based upon the consideration of the factors listed below, which fully reserves for the outstanding accounts receivable balance for this agent. As of May 31, 2023 and 2022, the Company had a total bad debt reserve of $13.2 million related to this agent . The allowance for doubtful accounts for this particular agent as of May 31, 2023 represents management's best estimate of the amount probable of collection and considers various factors with the respect to this matter, including, but not limited to, (i) the lack of payment by the agent since the fiscal quarter ended February 28, 2021, (ii) our due diligence on balances due to the agent from its end customers related to sales of our services and products and the known markup on those sales from agent to end customer, (iii) the status of ongoing negotiations with the agent to secure payments and (iv) legal recourse available to secure payment. Actual collections from the agent may differ from the Company's estimate. Concentration of Credit Risk: The Company sells products and services through distributors and agents. In certain jurisdictions, those third parties represent a significant portion of our sales in their respective country which can pose a concentration of credit risk if these larger distributors or agents are not timely in their payments. As of May 31, 2023, the Company was exposed to a co ncentration of credit risk as a result of the payment delinquency of one of our agents whose accounts receivable represent 10.7% of the Company's outstanding accounts receivable. As of May 31, 2023, the Company has fully reserved for the amounts due from this agent. 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, 2023, 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 substantially all of the $2.8 million will be recognized in net sales from satisfying those performance obligations within the next twelve months. Timing of Performance Obligations Satisfied at a Point in Time: The Company evaluates when the customer obtains control of the product based on shipping terms, as control will transfer, depending upon such terms, at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because (i) the Company has a present right to payment at that time; (ii) the legal title has been transferred to the customer; (iii) the Company has transferred physical possession of the product to the customer; and (iv) the customer has significant risks and rewards of ownership of the product. Variable Consideration: The Company estimates whether it will be subject to variable consideration under the terms of the contract and includes its estimate of variable consideration in the transaction price based on the expected value method when it is deemed probable of being realized based on historical experience and trends. Types of variable consideration may include rebates, incentives and discounts, among others, which are recorded as a reduction to net sales at the time when control of a performance obligation is transferred to the customer. Practical Expedients & Exemptions: The Company elected to expense the incremental cost to obtaining a contract when the amortization period for such contracts would be one year or less. The Company does not disclose the value of unperformed obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed.

Restructuring Charges (Notes)

Restructuring Charges (Notes)	9 Months Ended
	May 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Note 4. 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 are generally to be paid within twelve months, while future lease payments related to facilities vacated as a result of restructuring are to be paid over the underlying remaining lease terms. During fiscal 2019, the Company announced a restructuring plan focused on (i) the integration of the Enerpac and Hydratight businesses (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 simplified and flattened 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. Upon assessment of the Company's operating structure by the Company's new President and Chief Executive Officer (hired effective October 2021), the Company recorded $0.6 million and $5.2 million of charges in the three and nine months ended May 31, 2022, respectively, in order to further simplify and streamline the organizational structure. The total cumulative charges for the 2019 plan, which ended in the third quarter of fiscal year 2022, were $18.0 million . On June 27, 2022, the Company approved a new restructuring plan in connection with the initiatives identified as part of the ASCEND transformation program (see Note 3, “ASCEND Transformation Program” ) to drive greater efficiency and productivity in global selling, general and administrative resources. The total costs of this plan were then estimated at $6 to $10 million , constituting predominately severance and other employee-related costs to be incurred as cash expenditures impacting both IT&S and Corporate. On September 23, 2022, the Company approved an updated restructuring plan. The costs of this updated plan (which includes the amounts for the plan approved in June 2022) are estimated at $10 to $15 million . These costs are expected to be incurred over the expected duration of the transformation program, ending in the fourth quarter of fiscal year 2024. For the three and nine months ended May 31, 2023, the Company recorded $2.3 million and $6.2 million, respectively, of restructuring charges associated with the ASCEND transformation program. The following summarizes restructuring reserve activity (which for the nine months ended May 31, 2023 excludes $0.6 million of charges associated with ASCEND transformation plan, and for the nine months ended May 31, 2022 excludes $0.8 million and $0.5 million of charges associated with the 2019 Plan for IT&S and Corporate, respectively, associated with the accelerated vesting of equity awards which has no impact on the restructuring reserve) for the IT&S segment and Corporate (in thousands): Nine Months Ended May 31, 2023 2019 Plan ASCEND Plan IT&S Corporate IT&S Corporate Balance as of August 31, 2022 $ 212 $ 6 $ 2,008 $ 797 Restructuring charges 56 — 4,570 1,038 Cash payments (87) — (4,646) (1,734) Other non-cash uses of reserve (84) — — — Impact of changes in foreign currency rates 3 — 122 2 Balance as of May 31, 2023 $ 100 $ 6 $ 2,054 $ 103 Nine Months Ended May 31, 2022 IT&S Corporate Balance as of August 31, 2021 $ 1,737 $ 26 Restructuring charges 2,818 1,050 Cash payments (3,385) (1,069) Impact of changes in foreign currency rates (79) — Balance as of May 31, 2022 $ 1,091 $ 7
ASCEND Transformation Program	Note 3. ASCEND Transformation Program In March 2022, the Company announced the launch of ASCEND, a new transformation program focused on driving accelerated earnings growth and efficiency across the business with the goal of delivering an incremental $40 to $50 million of annual operating profit once fully implemented. In March 2023, the Company announced this estimate had been revised to an incremental $50 to $60 million of annual operating profit as a result of additional ASCEND initiatives and high success rate. As part of ASCEND, the Company is focusing on the following key initiatives: (i) accelerating organic growth go-to-market strategies, (ii) improving operational excellence and production efficiency by utilizing a lean approach and (iii) driving greater efficiency and productivity in SG&A by better leveraging resources to create a more efficient and agile organization. The Company is implementing the program and originally anticipated investing approximately $60 to $65 million and in March 2023 anticipated that this investment would increase to $70 to $75 million (as disclosed in Note 4, "Restructuring Charges" approximately $10 to $15 million of these investments will be in the form of restructuring charges) over the life of the program, which is expected to be finalized as we exit fiscal 2024. Elements of these investments could include such cash costs as capital expenditures, restructuring costs, third-party support, and incentive costs (which incentives are not available for the senior management team). Total program expenses were approximately $8.2 million and $32.9 million for the three and nine months ended May 31, 2023, respectively, and $3.9 million for both the three and nine months ended May 31, 2022 . Of the total ASCEND program expenses for fiscal year 2023, $5.5 million and $26.1 million were recorded within SG&A expenses for the three and nine months ended May 31, 2023, respectively, and $0.4 million and $0.6 million recorded within cost of goods sold for the three and nine months ended May 31, 2023, respectively, and $2.3 million and $6.2 million were recorded within restructuring expenses for the three and nine months ended May 31, 2023, respectively (see Note 4, "Restructuring Charges"

Restructuring and Related Activ

Restructuring and Related Activities	9 Months Ended
	May 31, 2023
Restructuring and Related Activities [Abstract]
ASCEND Transformation Program	Note 3. ASCEND Transformation Program In March 2022, the Company announced the launch of ASCEND, a new transformation program focused on driving accelerated earnings growth and efficiency across the business with the goal of delivering an incremental $40 to $50 million of annual operating profit once fully implemented. In March 2023, the Company announced this estimate had been revised to an incremental $50 to $60 million of annual operating profit as a result of additional ASCEND initiatives and high success rate. As part of ASCEND, the Company is focusing on the following key initiatives: (i) accelerating organic growth go-to-market strategies, (ii) improving operational excellence and production efficiency by utilizing a lean approach and (iii) driving greater efficiency and productivity in SG&A by better leveraging resources to create a more efficient and agile organization. The Company is implementing the program and originally anticipated investing approximately $60 to $65 million and in March 2023 anticipated that this investment would increase to $70 to $75 million (as disclosed in Note 4, "Restructuring Charges" approximately $10 to $15 million of these investments will be in the form of restructuring charges) over the life of the program, which is expected to be finalized as we exit fiscal 2024. Elements of these investments could include such cash costs as capital expenditures, restructuring costs, third-party support, and incentive costs (which incentives are not available for the senior management team). Total program expenses were approximately $8.2 million and $32.9 million for the three and nine months ended May 31, 2023, respectively, and $3.9 million for both the three and nine months ended May 31, 2022 . Of the total ASCEND program expenses for fiscal year 2023, $5.5 million and $26.1 million were recorded within SG&A expenses for the three and nine months ended May 31, 2023, respectively, and $0.4 million and $0.6 million recorded within cost of goods sold for the three and nine months ended May 31, 2023, respectively, and $2.3 million and $6.2 million were recorded within restructuring expenses for the three and nine months ended May 31, 2023, respectively (see Note 4, "Restructuring Charges"

Discontinued Operations & Other

Discontinued Operations & Other Divestiture Charges Discontinued Operations & Divestiture Activities (Notes)	9 Months Ended
	May 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 5. 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 sale of the businesses comprising its former Engineered Components & Systems ("EC&S") segment. This divestiture was considered part of our strategic shift to become a pure-play industrial tools and services company, and therefore, the results of operations are recorded as a component of "Earnings (loss) from discontinued operations, net of income taxes" in the Condensed Consolidated Statements of Earnings for all periods presented. All discontinued operations activity included within the Condensed Consolidated Statements of Earnings and the Condensed Consolidated Statements of Cash Flows for the periods presented relate to impacts from certain retained liabilities. The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Earnings (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Selling, general and administrative expenses $ 5,932 $ 2,944 $ 9,373 $ 4,605 Impairment & divestiture benefit — — (1,329) — Operating loss (5,932) (2,944) (8,044) (4,605) Other loss, net — — — — Loss before income tax benefit (5,932) (2,944) (8,044) (4,605) Income tax benefit (1,336) (526) (1,830) (890) Loss from discontinued operations, net of income taxes $ (4,596) $ (2,418) $ (6,214) $ (3,715)

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	May 31, 2023
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, 2023 are as follows (in thousands): IT&S Other Total Balance as of August 31, 2022 $ 246,740 $ 11,209 $ 257,949 Impact of changes in foreign currency rates 6,738 — 6,738 Balance as of May 31, 2023 $ 253,478 $ 11,209 $ 264,686 The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands): May 31, 2023 August 31, 2022 Weighted Average Gross Accumulated Net Gross Accumulated Net Amortizable intangible assets: Customer relationships 14 $ 137,654 $ 122,979 $ 14,675 $ 135,101 $ 117,275 $ 17,826 Patents 11 13,974 13,402 572 13,708 13,104 604 Trademarks and tradenames 12 3,192 2,467 725 3,132 2,329 803 Indefinite lived intangible assets: Tradenames N/A 23,112 — 23,112 22,274 — 22,274 $ 177,932 $ 138,848 $ 39,084 $ 174,215 $ 132,708 $ 41,507 The Company estimates that amortization expense will be $1.3 million for the remaining three months of fiscal 2023. Amortization expense for future years is estimated to be: $3.7 million in fiscal 2024, $3.1 million in fiscal 2025, $1.9 million in fiscal 2026, $1.8 million in fiscal 2027, $1.7 million in fiscal 2028 and $2.5 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures, or changes in foreign currency exchange rates, among other causes. In the nine months ended May 31, 2022 , the Company recorded "Impairment & divestiture charges" of $1.1 million; $0.8 million related to a customer relationship intangible asset whereby the Company no longer intends to operate in the country associated with said customers and $0.3 million associated with an indefinite lived tradename intangible asset on a secondary brand whereby the Company plans to sunset its use over the remainder of the fiscal year.

Product Warranty Costs

Product Warranty Costs	9 Months Ended
	May 31, 2023
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, 2023 and 2022, respectively (in thousands): Nine Months Ended May 31, 2023 2022 Beginning balance $ 1,140 $ 1,300 Provision for warranties 546 727 Warranty payments and costs incurred (557) (629) Impact of changes in foreign currency rates 23 (81) Ending balance $ 1,152 $ 1,317

Debt

Debt	9 Months Ended
	May 31, 2023
Debt Disclosure [Abstract]
Debt	Note 8. Debt The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2023 August 31, 2022 Previous Senior Credit Facility Short-term debt $ — $ 4,000 Revolver — 200,000 New Senior Credit Facility Revolver 36,000 — Term Loan 199,375 — Total Senior Indebtedness 235,375 204,000 Less: Current maturities of long-term debt (3,125) — Short-term debt — (4,000) Debt issuance costs (705) — Total long-term debt, less current maturities $ 231,545 $ 200,000 Senior Credit Facility Prior to refinancing the C ompany's senior credit facility on September 9, 2022, the Company's previous senior credit facility matured in March 2024, and provided a $400 million revolving line of credit, a $200 million term loan and a $300 million accordion. Borrowings bore interest at a variable rate based on LIBOR or a base rate, ranging from 1.125% to 2.00% in the case of loans bearing interest at LIBOR and from 0.125% to 1.00% in the case of loans bearing interest at the base rate. In addition, a non-use fee was 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. The previous senior credit facility contained two financial covenants, which were a maximum leverage ratio of 3.75:1 and a minimum interest coverage ratio of 3.5:1. Certain transactions resulted in adjustments to the underlying ratios, including an increase to the leverage ratio from 3.75 to 4.25 during the four fiscal quarters after a significant acquisition. On September 9, 2022, the Company refinanced its previous senior credit facility with a new $600 million senior credit facility, comprised of a $400 million revolving line of credit and a $200 million term loan, which will mature in September 2027. The Company has the option to request up to $300 million of additional revolving commitments and/or term loans under the new facility, subject to customary conditions, including the commitment of the participating lenders. The new facility replaces LIBOR with adjusted term SOFR as the interest rate benchmark and provides for interest rate margins above adjusted term SOFR ranging from 1.125% to 1.875% per annum depending on the Company’s net leverage ratio. Borrowings under the new facility initially bear interest at adjusted term SOFR plus 1.125% per annum. In addition, the new facility contains financial covenants requiring the Company to not permit (i) the net leverage ratio, determined as of the end of each of its fiscal quarters, to exceed 3.75 to 1.00 (or, at the Company’s election and subject to certain conditions, 4.25 to 1.00 for the covenants period during which certain material acquisitions occur and the next succeeding four testing periods) or (ii) the interest coverage ratio, determined as of the end of each of its fiscal quarters, to be less than 3.00 to 1.00. Borrowings under the new facility are secured by substantially all personal property assets of the Company and its domestic subsidiary guarantors (other than certain specified excluded assets) and certain of the equity interests of certain subsidiaries of the Company. The Company was in compliance with all financial covenants under the new facility at May 31, 2023. At May 31, 2023, there were $36.0 million of borrowings under the revolving line of credit and $360.4 million available under the revolving line of credit facility after reduction for $3.6 million of outstanding letters of credit issued under the new facility.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	May 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 9. Fair Value Measurements 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, accounts payable and variable rate long-term debt approximated book value at both May 31, 2023 and August 31, 2022 due to their short-term nature and/or the fact that the interest rates approximated market rates. Foreign currency exchange contracts and interest rate swaps 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 and a net liability of less than $0.1 million at May 31, 2023 and August 31, 2022, respectively. The fair value of the Company's interest rate swap (see Note 10, “Derivatives” , for further information on the Company's interest rate swap) was an asset of less than $0.1 million at May 31, 2023. The fair value of the Company's net investment hedge (see Note 10, “Derivatives”

Derivatives

Derivatives	9 Months Ended
	May 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Fair Value [Text Block]	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 fair 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 Earnings). The U.S. dollar equivalent notional value of these short duration foreign currency exchange contracts w as $19.5 million and $16.7 million at May 31, 2023 and August 31, 2022, respectively. The fair value of outstanding foreign currency exch ange contracts was a net asset of less than $0.1 million and a net liability of less than $0.1 million at May 31, 2023 and August 31, 2022, respectively. Net foreign currency loss (gain) (included in "Other expense" in the Condensed Consolidated Statements of Earnings) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Foreign currency loss (gain), net $ 242 $ (54) $ 862 $ 128 During December 2022, the Company entered into an interest rate swap for the notional amount of $60.0 million at a fixed interest rate of 4.022% to hedge the floating interest rate of the Company's term loan with a maturity date of November 30, 2025. The interest rate swap was designated and qualified as a cash flow hedge. The Company uses the interest rate swap for the management of interest rate risk exposure, as an interest rate swap effectively converts a portion of the Company's debt from a floating to a fixed rate. The Company records the fair value of the interest rate swap as an asset or liability on its balance sheet. The change in the fair value of the interest rate swap, a net loss of $0.5 million and a net gain of less than $0.1 million for the three and nine months ended May 31, 2023, respectively, is recorded in other comprehensive income (loss). The Company also uses interest-rate derivatives 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. For derivatives that are designated and qualify as a net investment hedge in a foreign operation the net gains or losses attributable to the hedge changes are recorded in other comprehensive income (loss) where they offset gains and losses recorded on our net investments where the entity has non-U.S. dollar functional currency. As of May 31, 2023, the notional amount of cross-currency swaps designated as net investment hedges was $30.5 million. The change in the fair value of the net investment hedge, a net loss of $0.3 million and $0.6 million for the three and nine months ended May 31, 2023, respectively, is recorded in other comprehensive income (loss).

Capital Stock and Share Repurch

Capital Stock and Share Repurchase	9 Months Ended
	May 31, 2023
Earnings Per Share [Abstract]
Capital Stock and Share Repurchase	Note 11. Earnings per Share and Shareholders' Equity The Company's Board of Directors has 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 27,402,654 shares of common stock for $763.7 million . The Company suspended the initial share repurchase program in response to the COVID-19 pandemic in the third quarter of fiscal 2020. In March 2022, the Company's Board of Directors rescinded its prior share repurchase authorization and approved a n ew share repurchase program authorizing the repurchase of a total of 10,000,000 shares of the Company's outstanding common stock. The Company repurchased 843,689 shares for $20.8 million in the three months ended May 31, 2023 and repurchased 1,755,075 shares for $36.3 million in the three months ended May 31, 2022. As of May 31, 2023, the maximum number of shares that may yet be purchased under the program is 5,396,576 shares. 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, 2023 2022 2023 2022 Numerator: Net earnings from continuing operations $ 16,976 $ 4,061 $ 30,544 $ 9,367 Net loss from discontinued operations (4,596) (2,418) (6,214) (3,715) Net earnings $ 12,380 $ 1,643 $ 24,330 $ 5,652 Denominator: Weighted average common shares outstanding - basic 57,052 60,227 56,993 60,292 Net effect of dilutive securities - stock based compensation plans 380 383 424 348 Weighted average common shares outstanding - diluted 57,432 60,610 57,417 60,640 Earnings per share from continuing operations: Basic $ 0.30 $ 0.07 $ 0.54 $ 0.16 Diluted $ 0.30 $ 0.07 $ 0.53 $ 0.15 Loss per share from discontinued operations: Basic $ (0.08) $ (0.04) $ (0.11) $ (0.06) Diluted $ (0.08) $ (0.04) $ (0.11) $ (0.06) Earnings per share:* Basic $ 0.22 $ 0.03 $ 0.43 $ 0.09 Diluted $ 0.22 $ 0.03 $ 0.42 $ 0.09 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 397 951 1,067 945 *The total of Earnings per share from continuing operations and loss per share from discontinued operations may not equal Earnings per share due to rounding. The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2023 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2022 83,397 $ 16,679 $ 212,986 $ (742,844) $ 966,751 $ (134,961) $ (3,209) $ 3,209 $ 318,611 Net earnings — — — — 7,453 — — — 7,453 Other comprehensive loss, net of tax — — — — — 6,024 — — 6,024 Stock contribution to employee benefit plans and other 3 1 41 — — — — — 42 Vesting of equity awards 84 17 (17) — — — — — — Stock based compensation expense — — 2,155 — — — — — 2,155 Stock option exercises 42 8 922 — — — — — 930 Tax effect related to net share settlement of equity awards — — (969) — — — — — (969) Stock issued to, acquired for and distributed from rabbi trust 3 1 76 — — — (30) 30 77 Balance at November 30, 2022 83,529 $ 16,706 $ 215,194 $ (742,844) $ 974,204 $ (128,937) $ (3,239) $ 3,239 $ 334,323 Net earnings — — — — 4,497 — — — 4,497 Other comprehensive income, net of tax — — — — — 1,243 — — 1,243 Stock contribution to employee benefit plans and other 2 — 49 — — — — — 49 Vesting of equity awards 173 34 (34) — — — — — — Stock based compensation expense — — 2,120 — — — — — 2,120 Tax effect related to net share settlement of equity awards — — (1,505) — — — — — (1,505) Stock issued to, acquired for and distributed from rabbi trust 28 6 55 — — — (81) 81 61 Balance at February 28, 2023 83,732 $ 16,746 $ 215,879 $ (742,844) $ 978,701 $ (127,694) $ (3,320) $ 3,320 $ 340,788 Net earnings — — — — 12,380 — — — 12,380 Other comprehensive loss, net of tax — — — — — 1,993 — — 1,993 Stock contribution to employee benefit plans and other 2 1 58 — — — — — 59 Vesting of equity awards 12 2 (2) — — — — — — Treasury stock repurchases — — — (20,831) — — — — (20,831) Stock based compensation expense — — 2,207 — — — — — 2,207 Stock option exercises 2 — 43 — — — — — 43 Tax effect related to net share settlement of equity awards — — (110) — — — — — (110) Stock issued to, acquired for and distributed from rabbi trust 4 1 89 — — — (85) 85 90 Balance at May 31, 2023 83,752 $ 16,750 $ 218,164 $ (763,675) $ 991,081 $ (125,701) $ (3,405) $ 3,405 $ 336,619 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2022 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2021 83,022 $ 16,604 $ 202,971 $ (667,732) $ 953,339 $ (92,984) $ (3,067) $ 3,067 $ 412,198 Net earnings — — — — 2,788 — — — 2,788 Other comprehensive income, net of tax — — — — — (10,044) — — (10,044) Stock contribution to employee benefit plans and other 2 1 84 — — — — — 85 Vesting of equity awards 67 17 (17) — — — — — — Stock based compensation expense — — 6,147 — — — — — 6,147 Tax effect related to net share settlement of equity awards — — (1,393) — — — — — (1,393) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (25) 25 25 Balance at November 30, 2021 83,092 $ 16,622 $ 207,817 $ (667,732) $ 956,127 $ (103,028) $ (3,092) $ 3,092 $ 409,806 Net earnings — — — — 1,221 — — — 1,221 Other comprehensive income, net of tax — — — — — 1,744 — — 1,744 Stock contribution to employee benefit plans and other 5 1 64 — — — — — 65 Vesting of equity awards 247 46 (46) — — — — — — Stock based compensation expense — — 2,142 — — — — — 2,142 Tax effect related to net share settlement of equity awards — — (1,980) — — — — — (1,980) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — 3 (3) 25 Balance at February 28, 2022 83,345 $ 16,669 $ 208,022 $ (667,732) $ 957,348 $ (101,284) $ (3,089) $ 3,089 $ 413,023 Net earnings — — — — 1,643 — — — 1,643 Other comprehensive income, net of tax — — — — — (16,030) — — (16,030) Stock contribution to employee benefit plans and other 4 1 65 — — — — — 66 Treasury stock repurchases — — — (36,295) — — — — (36,295) Stock based compensation expense — — 3,828 — — — — — 3,828 Tax effect related to net share settlement of equity awards — — (3) — — — — — (3) Stock issued to, acquired for and distributed from rabbi trust 1 — 40 — — — (59) 59 40 Balance at May 31, 2022 83,350 $ 16,670 $ 211,952 $ (704,027) $ 958,991 $ (117,314) $ (3,148) $ 3,148 $ 366,272

Income Taxes

Income Taxes	9 Months Ended
	May 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company's glob al operations, acquisition activity (as applicable) and specific tax attributes provide opportunities for continuous global tax planning initiatives to maximize tax credits and deductions. Comparative earnings before income taxes, income tax expense and effective income tax rates from continuing operations are as follows (dollars in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Earnings from continuing operations before income tax expense $ 21,664 $ 5,438 $ 40,602 $ 13,862 Income tax expense 4,688 1,377 10,058 4,495 Effective income tax rate 21.6 % 25.3 % 24.8 % 32.4 % The Company’s earnings from continuing operations before income taxes include earnings from both U.S. and foreign jurisdictions. As several foreign tax rates are higher than the U.S. tax rate of 21%, the annual effective tax rate is impacted by foreign rate differentials, withholding taxes, losses in jurisdictions whe re no benefit can be realized, and various aspects of the U.S. Tax Cuts and Jobs Act, such as the Global Intangible Low-Taxed Income and Foreign-Derived Intangible Income provisions.

Segment Information

Segment Information	9 Months Ended
	May 31, 2023
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 infrastructure, industrial maintenance, repair and operations, oil & gas, mining, alternative and renewable energy, civil construction and other markets. The Other 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, 2023 2022 2023 2022 Net Sales by Reportable Segment & Product Line IT&S Segment Product $ 117,868 $ 109,915 $ 320,980 $ 299,761 Service & Rental 26,258 30,480 81,346 87,886 144,126 140,395 402,326 387,647 Other Segment 12,127 11,499 35,269 31,748 $ 156,253 $ 151,894 $ 437,595 $ 419,395 Operating Profit (Loss) IT&S Segment $ 36,207 $ 19,226 $ 93,284 $ 49,872 Other Segment 1,965 1,096 4,545 173 General Corporate (12,733) (13,679) (46,109) (32,511) $ 25,439 $ 6,643 $ 51,720 $ 17,534 May 31, 2023 August 31, 2022 Assets IT&S Segment $ 633,686 $ 618,412 Other Segment 46,584 46,428 General Corporate 112,804 92,472 $ 793,074 $ 757,312 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, property, plant and equipment, Right of Use ("ROU") assets, capitalized debt issuance costs and deferred income taxes.

Contingencies and Litigation

Contingencies and Litigation	9 Months Ended
	May 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Note 14. Commitments and Contingencies The Comp any had outstanding letters of credit of $9.4 million and $10.7 million at May 31, 2023 and August 31, 2022, 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 en tered 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 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 include regulatory matters, 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. The Company maintains a policy to exclude from such reserves an estimate of legal defense costs. 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. Additionally, in fiscal 2019, the Company provided voluntary self-disclosures to both Dutch and U.S. authorities related to sales of products and services linked to the Crimea region of Ukraine, which sales potentially violated European Union and U.S. sanctions provisions. Although the U.S. investigation closed without further implication, the Dutch investigation continued. The Dutch Investigator concluded his investigation in March 2022 and provided the results to the Public Prosecutor's office for review. Specifically, the Investigator concluded that the sales transactions violated EU sanctions. The conclusion in the Investigator's report was consistent with the Company's understanding of what could be stated in the report and supported the Company to record an expense in the fiscal year-ended August 31, 2021, representing the low end of a reasonable range of financial penalties the Company may incur as no other point within the range was deemed more probable. The Company has not adjusted its estimate of financial penalties as a result of the completion of the investigation in the nine months ended May 31, 2023. While there can be no assurance of the ultimate outcome of the matter, the Company currently believes that there will be no material adverse effect on the Company's financial position, results of operations or cash flows from this matter.

Leases Leases

Leases Leases	9 Months Ended
	May 31, 2023
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Note 15. Leases The Compa ny has operating leases for real estate, vehicles, manufacturing equipment, IT equipment and office equipment (the Company does not have any financing leases). Our leases typically range in term from 3 to 15 years and may contain renewal options for periods up to 5 years at our discretion. 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. There have been no material changes to our operating lease ROU assets and operating lease liabil ities during the nine months ended May 31, 2023 . The components of lease expense were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Lease Cost: Operating lease cost $ 3,324 $ 3,540 $ 9,943 $ 10,962 Short-term lease cost 612 391 1,696 1,241 Variable lease cost 836 843 3,059 2,857 Supplemental cash flow and other information related to leases were as follows (in thousands): Nine Months Ended May 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,845 $ 10,691 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 1,418 4,101

Basis of Presentation Property,

Basis of Presentation Property, Plant and Equipment	9 Months Ended
	May 31, 2023
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, 2023 August 31, 2022 Land, buildings and improvements $ 14,957 $ 14,121 Machinery and equipment 149,637 141,571 Gross property, plant and equipment 164,594 155,692 Less: Accumulated depreciation (122,811) (114,320) Property, plant and equipment, net $ 41,783 $ 41,372

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	May 31, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends ASC 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022. The Company will adopt this guidance in the event of a business combination subsequent to the effective date of the guidance.
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, 2023 August 31, 2022 Foreign currency translation adjustments $ 106,280 $ 116,078 Pension and other postretirement benefit plans 19,963 18,883 Cash flow hedges (542) — Accumulated other comprehensive loss $ 125,701 $ 134,961
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, 2023 August 31, 2022 Land, buildings and improvements $ 14,957 $ 14,121 Machinery and equipment 149,637 141,571 Gross property, plant and equipment 164,594 155,692 Less: Accumulated depreciation (122,811) (114,320) Property, plant and equipment, net $ 41,783 $ 41,372

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenues (Tables)	9 Months Ended
	May 31, 2023
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, 2023 2022 2023 2022 Revenues recognized at point in time $ 127,216 $ 117,155 $ 350,995 $ 322,247 Revenues recognized over time 29,037 34,738 86,600 97,148 Total $ 156,253 $ 151,894 $ 437,595 $ 419,395

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Assets and Liabilities (Tables)	9 Months Ended
	May 31, 2023
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, 2023 August 31, 2022 Receivables, which are included in accounts receivable, net $ 103,565 $ 106,747 Contract assets, which are included in other current assets 2,995 2,397 Contract liabilities, which are included in other current liabilities 2,795 2,804

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	May 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following summarizes restructuring reserve activity (which for the nine months ended May 31, 2023 excludes $0.6 million of charges associated with ASCEND transformation plan, and for the nine months ended May 31, 2022 excludes $0.8 million and $0.5 million of charges associated with the 2019 Plan for IT&S and Corporate, respectively, associated with the accelerated vesting of equity awards which has no impact on the restructuring reserve) for the IT&S segment and Corporate (in thousands): Nine Months Ended May 31, 2023 2019 Plan ASCEND Plan IT&S Corporate IT&S Corporate Balance as of August 31, 2022 $ 212 $ 6 $ 2,008 $ 797 Restructuring charges 56 — 4,570 1,038 Cash payments (87) — (4,646) (1,734) Other non-cash uses of reserve (84) — — — Impact of changes in foreign currency rates 3 — 122 2 Balance as of May 31, 2023 $ 100 $ 6 $ 2,054 $ 103 Nine Months Ended May 31, 2022 IT&S Corporate Balance as of August 31, 2021 $ 1,737 $ 26 Restructuring charges 2,818 1,050 Cash payments (3,385) (1,069) Impact of changes in foreign currency rates (79) — Balance as of May 31, 2022 $ 1,091 $ 7

Discontinued Operations & Oth_2

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, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Net (Loss) Earnings from Discontinued Operations	$ 4,596	$ 2,418	$ 6,214	$ 3,715

Discontinued Operations & Oth_3

Discontinued Operations & Other Divestiture Charges Statement of Operations (Tables)	9 Months Ended
	May 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Earnings (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Selling, general and administrative expenses $ 5,932 $ 2,944 $ 9,373 $ 4,605 Impairment & divestiture benefit — — (1,329) — Operating loss (5,932) (2,944) (8,044) (4,605) Other loss, net — — — — Loss before income tax benefit (5,932) (2,944) (8,044) (4,605) Income tax benefit (1,336) (526) (1,830) (890) Loss from discontinued operations, net of income taxes $ (4,596) $ (2,418) $ (6,214) $ (3,715)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	May 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended May 31, 2023 are as follows (in thousands): IT&S Other Total Balance as of August 31, 2022 $ 246,740 $ 11,209 $ 257,949 Impact of changes in foreign currency rates 6,738 — 6,738 Balance as of May 31, 2023 $ 253,478 $ 11,209 $ 264,686
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, 2023 August 31, 2022 Weighted Average Gross Accumulated Net Gross Accumulated Net Amortizable intangible assets: Customer relationships 14 $ 137,654 $ 122,979 $ 14,675 $ 135,101 $ 117,275 $ 17,826 Patents 11 13,974 13,402 572 13,708 13,104 604 Trademarks and tradenames 12 3,192 2,467 725 3,132 2,329 803 Indefinite lived intangible assets: Tradenames N/A 23,112 — 23,112 22,274 — 22,274 $ 177,932 $ 138,848 $ 39,084 $ 174,215 $ 132,708 $ 41,507

Product Warranty Costs (Tables)

Product Warranty Costs (Tables)	9 Months Ended
	May 31, 2023
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2023 and 2022, respectively (in thousands): Nine Months Ended May 31, 2023 2022 Beginning balance $ 1,140 $ 1,300 Provision for warranties 546 727 Warranty payments and costs incurred (557) (629) Impact of changes in foreign currency rates 23 (81) Ending balance $ 1,152 $ 1,317

Debt (Tables)

Debt (Tables)	9 Months Ended
	May 31, 2023
Debt Disclosure [Abstract]
Long-Term Indebtedness	The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2023 August 31, 2022 Previous Senior Credit Facility Short-term debt $ — $ 4,000 Revolver — 200,000 New Senior Credit Facility Revolver 36,000 — Term Loan 199,375 — Total Senior Indebtedness 235,375 204,000 Less: Current maturities of long-term debt (3,125) — Short-term debt — (4,000) Debt issuance costs (705) — Total long-term debt, less current maturities $ 231,545 $ 200,000

Derivatives Derivatives (Tables

Derivatives Derivatives (Tables)	9 Months Ended
	May 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Net foreign currency loss (gain) (included in "Other expense" in the Condensed Consolidated Statements of Earnings) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Foreign currency loss (gain), net $ 242 $ (54) $ 862 $ 128

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	May 31, 2023
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, 2023 2022 2023 2022 Numerator: Net earnings from continuing operations $ 16,976 $ 4,061 $ 30,544 $ 9,367 Net loss from discontinued operations (4,596) (2,418) (6,214) (3,715) Net earnings $ 12,380 $ 1,643 $ 24,330 $ 5,652 Denominator: Weighted average common shares outstanding - basic 57,052 60,227 56,993 60,292 Net effect of dilutive securities - stock based compensation plans 380 383 424 348 Weighted average common shares outstanding - diluted 57,432 60,610 57,417 60,640 Earnings per share from continuing operations: Basic $ 0.30 $ 0.07 $ 0.54 $ 0.16 Diluted $ 0.30 $ 0.07 $ 0.53 $ 0.15 Loss per share from discontinued operations: Basic $ (0.08) $ (0.04) $ (0.11) $ (0.06) Diluted $ (0.08) $ (0.04) $ (0.11) $ (0.06) Earnings per share:* Basic $ 0.22 $ 0.03 $ 0.43 $ 0.09 Diluted $ 0.22 $ 0.03 $ 0.42 $ 0.09 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 397 951 1,067 945 *The total of Earnings per share from continuing operations and loss per share from discontinued operations may not equal Earnings per share due to rounding.

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
	May 31, 2023
Income Tax Disclosure [Abstract]
Income Tax Effective Tax Rate [Table Text Block]	Comparative earnings before income taxes, income tax expense and effective income tax rates from continuing operations are as follows (dollars in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Earnings from continuing operations before income tax expense $ 21,664 $ 5,438 $ 40,602 $ 13,862 Income tax expense 4,688 1,377 10,058 4,495 Effective income tax rate 21.6 % 25.3 % 24.8 % 32.4 %

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	May 31, 2023
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, 2023 2022 2023 2022 Net Sales by Reportable Segment & Product Line IT&S Segment Product $ 117,868 $ 109,915 $ 320,980 $ 299,761 Service & Rental 26,258 30,480 81,346 87,886 144,126 140,395 402,326 387,647 Other Segment 12,127 11,499 35,269 31,748 $ 156,253 $ 151,894 $ 437,595 $ 419,395 Operating Profit (Loss) IT&S Segment $ 36,207 $ 19,226 $ 93,284 $ 49,872 Other Segment 1,965 1,096 4,545 173 General Corporate (12,733) (13,679) (46,109) (32,511) $ 25,439 $ 6,643 $ 51,720 $ 17,534 May 31, 2023 August 31, 2022 Assets IT&S Segment $ 633,686 $ 618,412 Other Segment 46,584 46,428 General Corporate 112,804 92,472 $ 793,074 $ 757,312

Leases Components of Lease Expe

Leases Components of Lease Expense (Tables)	9 Months Ended
	May 31, 2023
Components of Lease Expense [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Lease Cost: Operating lease cost $ 3,324 $ 3,540 $ 9,943 $ 10,962 Short-term lease cost 612 391 1,696 1,241 Variable lease cost 836 843 3,059 2,857

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information Related to Leases (Tables)	9 Months Ended
	May 31, 2023
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, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,845 $ 10,691 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 1,418 4,101

Basis of Presentation Schedul_2

Basis of Presentation Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	May 31, 2023	Aug. 31, 2022
Property, Plant and Equipment [Line Items]
Land, buildings and improvements	$ 14,957	$ 14,121
Machinery and equipment	149,637	141,571
Gross Property, Plant and Equipment	164,594	155,692
Less: Accumulated Depreciation	(122,811)	(114,320)
Property, Plant and Equipment, Net	$ 41,783	$ 41,372

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021
Condensed Statement of Income Captions [Line Items]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	$ 19,963			$ 18,883
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	(542)			0
Total shareholders’ equity	(336,619)	$ (340,788)	$ (334,323)	(318,611)	$ (366,272)	$ (413,023)	$ (409,806)	$ (412,198)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	106,280			116,078
AOCI Attributable to Parent [Member]
Condensed Statement of Income Captions [Line Items]
Total shareholders’ equity	$ 125,701	$ 127,694	$ 128,937	$ 134,961	$ 117,314	$ 101,284	$ 103,028	$ 92,984

Revenue Recognition Disaggreg_2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 156,253	$ 151,894	$ 437,595	$ 419,395
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)		10,800	13,200
Revenue Recognized at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	127,216	117,155	350,995	322,247
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 29,037	$ 34,738	$ 86,600	$ 97,148

Revenue Recognition Contract _2

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	May 31, 2022	May 31, 2023	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current		$ 17,200	$ 17,500
Accounts receivable, net		103,565	106,747
Contract assets		2,995	2,397
Contract liabilities		2,795	$ 2,804
Revenue, remaining performance obligation, within next twelve months		2,800
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 10,800	$ 13,200
Concentration Risk, Customer		10.7

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended		36 Months Ended
	Sep. 23, 2022	Jun. 27, 2022	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022	May 31, 2022
Restructuring Reserve [Roll Forward]
Restructuring Charges			$ 2,252	$ 517	$ 6,220	$ 5,086
Anticipated ASCEND Transformation Program Restructuring Charges - Maximum	$ 10,000	$ 6,000
Anticipated ASCEND Transformation Program Restructuring Charges - Minimum	$ 15,000	$ 10,000
ASCEND Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring Charges			2,300		6,200
Industrial Tools & Services [Member] [Domain]
Restructuring Reserve [Roll Forward]
Other non-cash uses of reserve					(600)	(800)
Industrial Tools & Services [Member] [Domain] | 2019 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning Balance					212	1,737
Restructuring Charges					56	2,818
Cash payments					(87)	3,385
Other non-cash uses of reserve					84
Impact of changes in foreign currency rates					3	(79)
Ending Balance			100	1,091	100	1,091	$ 1,091
Industrial Tools & Services [Member] [Domain] | ASCEND Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning Balance					2,008
Restructuring Charges					4,570
Cash payments					(4,646)
Other non-cash uses of reserve					0
Impact of changes in foreign currency rates					122
Ending Balance			2,054		2,054
Reportable Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges				600		5,200
Reportable Segments [Member] | 2019 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring Charges							18,000
Corporate Segment
Restructuring Reserve [Roll Forward]
Other non-cash uses of reserve				(500)
Corporate Segment | 2019 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning Balance					6	26
Restructuring Charges					0	1,050
Cash payments					0	1,069
Other non-cash uses of reserve					0
Impact of changes in foreign currency rates					0	0
Ending Balance			6	$ 7	6	$ 7	$ 7
Corporate Segment | ASCEND Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning Balance					797
Restructuring Charges					1,038
Cash payments					(1,734)
Other non-cash uses of reserve					0
Impact of changes in foreign currency rates					2
Ending Balance			$ 103		$ 103

ASCEND Transformation Program (

ASCEND Transformation Program (Details) - USD ($) $ in Thousands				3 Months Ended		9 Months Ended
	Sep. 23, 2022	Jun. 27, 2022	Mar. 23, 2022	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Restructuring and Related Activities [Abstract]
Anticipated ASCEND Transformation Program Restructuring Charges - Maximum	$ 10,000	$ 6,000
Incremental Operating Profit Maximum			$ 50,000			$ 60,000
Incremental Operating Profit Minimum			40,000			50,000
Anticipated ASCEND Transformation Program Restructuring Charges - Minimum	$ 15,000	$ 10,000
Anticipated Invested Expense Minimum			60,000			70,000
Anticipated Invested Expense Maximum			$ 65,000			75,000
ASCEND Transformation Program Costs				$ 8,200	$ 3,900	32,900	$ 3,900
ASCEND Transformation Program Expenses in SG&A				5,500		26,100
Restructuring Charges				2,252	$ 517	6,220	$ 5,086
ASCEND Transformation Program Expenses in COGS				$ 400		$ 600

Discontinued Operations & Oth_4

Discontinued Operations & Other Divestiture Charges Discontinued Operations & Divestiture Activities (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Oct. 31, 2019	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		$ 21,664	$ 5,438	$ 40,602	$ 13,862
Net (Loss) Earnings from Discontinued Operations		4,596	2,418	$ 6,214	3,715
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]				Note 5. 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 sale of the businesses comprising its former Engineered Components & Systems ("EC&S") segment. This divestiture was considered part of our strategic shift to become a pure-play industrial tools and services company, and therefore, the results of operations are recorded as a component of "Earnings (loss) from discontinued operations, net of income taxes" in the Condensed Consolidated Statements of Earnings for all periods presented. All discontinued operations activity included within the Condensed Consolidated Statements of Earnings and the Condensed Consolidated Statements of Cash Flows for the periods presented relate to impacts from certain retained liabilities. The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Earnings (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2023 2022 2023 2022 Selling, general and administrative expenses $ 5,932 $ 2,944 $ 9,373 $ 4,605 Impairment & divestiture benefit — — (1,329) — Operating loss (5,932) (2,944) (8,044) (4,605) Other loss, net — — — — Loss before income tax benefit (5,932) (2,944) (8,044) (4,605) Income tax benefit (1,336) (526) (1,830) (890) Loss from discontinued operations, net of income taxes $ (4,596) $ (2,418) $ (6,214) $ (3,715)
Engineered Components & Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Operating (Loss) Earnings		(5,932)	(2,944)	$ (8,044)	(4,605)
Disposal Group, Including Discontinued Operation, Other Expense (Income), net		0	0	0	0
Disposal Group, Including Discontinued Operation, Loss Before Income Tax Benefit		5,932	2,944	8,044	4,605
Disposal Group, Including Discontinued Operation, General and Administrative Expense		5,932	2,944	9,373	4,605
Disposal Group Including Discontinued Operation Impairment And Divestiture Charges		0	0	(1,329)	0
Disposal Group, Including Discontinued Operation, Income Tax (Benefit) Expense		(1,336)	(526)	(1,830)	(890)
Net (Loss) Earnings from Discontinued Operations		$ (4,596)	$ (2,418)	$ (6,214)	$ (3,715)
Engineered Components & Systems [Member] [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Oct. 31, 2019

Discontinued Operations & Oth_5

Discontinued Operations & Other Divestiture Charges Divestitures Activities Discontinued Operations - Loss From Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net (Loss) Earnings from Discontinued Operations	$ 4,596	$ 2,418	$ 6,214	$ 3,715
Engineered Components & Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Operating (Loss) Earnings	(5,932)	(2,944)	(8,044)	(4,605)
Disposal Group, Including Discontinued Operation, Other Expense	0	0	0	0
Disposal Group, Including Discontinued Operation, (Loss) Earnings Before Income Tax Benefit	(5,932)	(2,944)	(8,044)	(4,605)
Disposal Group, Including Discontinued Operation, Income Tax (Benefit) Expense	(1,336)	(526)	(1,830)	(890)
Net (Loss) Earnings from Discontinued Operations	$ (4,596)	$ (2,418)	$ (6,214)	$ (3,715)

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	May 31, 2023 USD ($)
Goodwill [Roll Forward]
Ending balance	$ 257,949
Impact of changes in foreign currency rates	6,738
Ending balance	264,686
Industrial Tools & Services [Member] [Domain]
Goodwill [Roll Forward]
Ending balance	246,740
Impact of changes in foreign currency rates	6,738
Ending balance	253,478
Other Operating Segment [Member]
Goodwill [Roll Forward]
Ending balance	11,209
Impact of changes in foreign currency rates	0
Ending balance	$ 11,209

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	May 31, 2023	Aug. 31, 2022
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 138,848	$ 132,708
Gross Carrying Value	177,932	174,215
Net Book Value	39,084	41,507
Tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	23,112	22,274
Accumulated Amortization	0	0
Net Book Value	$ 23,112	22,274
Customer relationships
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	14 years
Gross Carrying Value	$ 137,654	135,101
Accumulated Amortization	122,979	117,275
Net Book Value	$ 14,675	17,826
Patents
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	11 years
Gross Carrying Value	$ 13,974	13,708
Accumulated Amortization	13,402	13,104
Net Book Value	$ 572	604
Trademarks and tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	12 years
Gross Carrying Value	$ 3,192	3,132
Accumulated Amortization	2,467	2,329
Net Book Value	$ 725	$ 803

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) $ in Millions	May 31, 2023 USD ($)
Impaired Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 3.7
Future Amortization Expense, 2025	2.5
Future Amortization Expense, 2024	1.7
Future Amortization Expense, 2023	1.8
Future Amortization Expense, 2022	1.9
Future Amortization Expense, 2021	3.1
Future Amortization Expense, Remainder of 2020	1.3
Future Amortization Expense, 2021	3.1
Future Amortization Expense, 2022	1.9
Future Amortization Expense, 2023	1.8
Future Amortization Expense, 2024	1.7
Future Amortization Expense, 2025	$ 2.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets Summary of Asset Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Impaired Assets [Line Items]
Impairment & divestiture (benefits) charges	$ 0	$ 0	$ 0	$ 1,116
Tradenames
Impaired Assets [Line Items]
Impairment & divestiture (benefits) charges				300
Customer relationships
Impaired Assets [Line Items]
Impairment & divestiture (benefits) charges				$ 800

Rollforward of Accrued Product

Rollforward of Accrued Product Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2023	May 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 1,140	$ 1,300
Provision for warranties	546	727
Warranty Payments and costs incurred	(557)	(629)
Impact of changes in foreign currency rates	23	(81)
Ending balance	$ 1,152	$ 1,317

Long-Term Indebtedness (Details

Long-Term Indebtedness (Details) - USD ($)	May 31, 2023	Aug. 31, 2022
Debt Instrument [Line Items]
Long-term Debt	$ 235,375,000	$ 204,000,000
Long-term debt, net	231,545,000	200,000,000
Long-term Debt, Current Maturities	3,125,000	0
Debt Issuance Costs, Net	705,000	0
Short-Term Debt	0	4,000,000
Repayments of Short-Term Debt	0	(4,000,000)
Senior Credit Facility - Term Loan | Debt Instrument, Name [Domain]
Debt Instrument [Line Items]
Long-term Debt	199,375,000	0
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt	36,000,000	0
Long-term debt, net	$ 0	$ 200,000,000

Debt - Additional Information (

Debt - Additional Information (Details)			9 Months Ended
	Sep. 09, 2022 USD ($)	Mar. 29, 2019 USD ($)	May 31, 2023 USD ($)	May 31, 2022 USD ($)	Aug. 31, 2022 USD ($)
Debt Instrument [Line Items]
Borrowings on Revolving Credit			$ 60,000,000	$ 45,000,000
Outstanding letters of credit			9,400,000		$ 10,700,000
Senior Credit Facilty	$ 600,000,000
Long-term debt, net			231,545,000		200,000,000
Long-term Debt			235,375,000		204,000,000
Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200,000,000	$ 200,000,000
Senior credit facility expansion option, available	300,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000,000	$ 400,000,000
Long-term debt, net			0		200,000,000
Long-term Debt			36,000,000		0
Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Outstanding letters of credit			3,600,000
Long-term debt, net			36,000,000
Debt Instrument, Unused Borrowing Capacity, Amount			360,400,000
Debt Instrument, Name [Domain] | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Long-term Debt			$ 199,375,000		$ 0
Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.15%
Fixed Charge Coverage Ratio		3.5
Minimum | Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1%
Minimum | London Interbank Offered Rate LIBOR
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.125%
Minimum | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Leverage ratio	1
Interest Coverage Ratio	100%
Minimum | Senior Credit Facility - Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.30%
Leverage ratio		3.75
Adjusted Leverage Ratio	4.25	4.25
Maximum | Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.125%
Maximum | London Interbank Offered Rate LIBOR
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2%
Maximum | Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Leverage ratio	3.75
Interest Coverage Ratio	300%
Maximum | Senior Credit Facility - Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.875%
Accordion [Domain]
Debt Instrument [Line Items]
Senior credit facility expansion option, available		$ 300,000,000

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($)	May 31, 2023	Aug. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ 100,000	$ 100,000
Long-term Debt	235,375,000	204,000,000
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	100,000
Derivative Instruments in Hedges, at Fair Value, Net	(800,000)
Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	$ 36,000,000	$ 0

Derivatives Narrative (Details)

Derivatives Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022	Dec. 08, 2022	Aug. 31, 2022
Derivative [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ 100,000		$ 100,000			$ 100,000
Loss on Foreign Currency Fair Value Hedge Derivatives and Not Designated as Hedging Instruments at Fair Value	242,000	$ (54,000)	862,000	$ 128,000
Long-term Debt	235,375,000		235,375,000			204,000,000
Derivatives used in Net Investment Hedge, Increase (Decrease), Gross of Tax	(300,000)		(600,000)
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge	(500,000)		100,000
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	19,500,000		19,500,000			$ 16,700,000
Net Investment Hedging [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	$ 30,500,000		$ 30,500,000
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Amount of Hedged Item					$ 60,000,000
Derivative, Fixed Interest Rate					4.022%

Earnings per Share and Shareh_2

Earnings per Share and Shareholders' Equity Share Repurchase (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended		123 Months Ended
	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	May 31, 2022	Nov. 30, 2021	Aug. 31, 2022	Aug. 31, 2021
Equity [Abstract]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	5,396,576						5,396,576
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 336,619	$ 340,788	$ 334,323	$ 366,272	$ 413,023	$ 409,806	$ 336,619	$ 366,272	$ 409,806	$ 318,611	$ 412,198
Net (loss) earnings	12,380	4,497	7,453	1,643	1,221	2,788	24,330	5,652
Other Comprehensive (Loss) Income, Net of Tax	1,993	1,243	6,024	(16,030)	1,744	(10,044)	9,260	$ (24,330)
Stock Issued During Period, Value, Employee Benefit Plan	59	49	42	66	65	85
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	0	0		0	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,207	2,120	2,155	3,828	2,142	6,147
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	90	$ 61	$ 77	40	$ 25	$ 25
Retained earnings	991,081						991,081			966,751
Treasury Stock, Value	763,675						$ 763,675			$ 742,844
Treasury Stock, Value, Acquired, Cost Method	$ 20,831			$ 36,295					$ 763,700
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	10,000,000						10,000,000
Treasury Stock, Common, Shares	27,402,654						27,402,654			26,558,965
Stock Repurchased During Period, Shares	843,689			1,755,075
Stock Repurchased During Period, Value	$ 20,800			$ 36,300
Common Stock [Member]
Statement [Line Items]
Stock Issued During Period, Shares, New Issues	83,752,000	83,732,000	83,529,000	83,350,000	83,345,000	83,092,000	83,752,000	83,350,000	83,092,000	83,397,000	83,022,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 16,750	$ 16,746	$ 16,706	$ 16,670	$ 16,669	$ 16,622	$ 16,750	$ 16,670	$ 16,622	$ 16,679	$ 16,604
Stock Issued During Period, Shares, Employee Benefit Plan	2,000	2,000	3,000	4,000	5,000	2,000
Stock Issued During Period, Value, Employee Benefit Plan	$ 1		$ 1	$ 1	$ 1	$ 1
Stock Issued During Period, Shares, Restricted Stock Award, Gross	12,000	173,000	84,000		247,000	67,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 2	$ 34	$ 17		$ 46	$ 17
Stock Issued To Acquired For And Distributed From Rabbi Trust	4,000	28,000	3,000	1,000	1,000	1,000
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 1	$ 6	$ 1			$ 0
Additional Paid-in Capital [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	218,164	215,879	215,194	$ 211,952	$ 208,022	207,817	218,164	211,952	207,817	212,986	202,971
Stock Issued During Period, Value, Employee Benefit Plan	58	49	41	65	64	84
Stock Issued During Period, Value, Restricted Stock Award, Gross	(2)	(34)	17		(46)	(17)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,207	2,120	2,155	3,828	2,142	6,147
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	89	55	76	40	25	25
Retained Earnings [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	991,081	978,701	974,204	958,991	957,348	956,127	991,081	958,991	956,127	966,751	953,339
Net (loss) earnings	12,380	4,497	7,453	1,643	1,221	2,788
AOCI Attributable to Parent [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(125,701)	(127,694)	(128,937)	(117,314)	(101,284)	(103,028)	(125,701)	(117,314)	(103,028)	(134,961)	(92,984)
Other Comprehensive (Loss) Income, Net of Tax	1,993	1,243	6,024	(16,030)	1,744	(10,044)
Stock held in trust [member] [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(3,405)	(3,320)	(3,239)	(3,148)	(3,089)	(3,092)	(3,405)	(3,148)	(3,092)	(3,209)	(3,067)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	(85)	(81)	(30)	(59)	3	(25)
Deferred Compensation, Share-based Payments [Member]
Statement [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,405	3,320	3,239	3,148	3,089	3,092	$ 3,405	$ 3,148	$ 3,092	$ 3,209	$ 3,067
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 85	$ 81	$ 30	$ 59	$ (3)	$ 25

Capital Stock (Details)

Capital Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	May 31, 2022
Earnings Per Share [Abstract]
Net (Loss) Earnings from Continuing Operations	$ 16,976			$ 4,061			$ 30,544	$ 9,367
Net (Loss) Earnings from Discontinued Operations	(4,596)			(2,418)			(6,214)	(3,715)
Net (loss) earnings	$ 12,380	$ 4,497	$ 7,453	$ 1,643	$ 1,221	$ 2,788	$ 24,330	$ 5,652
Weighted average common shares outstanding - basic	57,052			60,227			56,993	60,292
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	380			383			424	348
Weighted Average Common Shares outstanding - diluted	57,432			60,610			57,417	60,640
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ 0.30			$ 0.07			$ 0.54	$ 0.16
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	0.30			0.07			0.53	0.15
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	(0.08)			(0.04)			(0.11)	(0.06)
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	(0.08)			(0.04)			(0.11)	(0.06)
Earnings Per Share, Basic	0.22			0.03			0.43	0.09
(Loss) Earnings Per Share, Diluted	$ 0.22			$ 0.03			$ 0.42	$ 0.09
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)	397			951			1,067	945

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Income Tax Disclosure Additional Details [Table] [Line Items]
Income tax (benefit) expense	$ 4,688	$ 1,377	$ 10,058	$ 4,495
Effective Income Tax Rate Reconciliation, Percent	21.60%	25.30%	24.80%	32.40%
Federal Statutory Income Tax Rate, Percent			21%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 21,664	$ 5,438	$ 40,602	$ 13,862

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, 2023	May 31, 2022	May 31, 2023	May 31, 2022	Aug. 31, 2022
Segment Reporting Information [Line Items]
Net Sales	$ 156,253	$ 151,894	$ 437,595	$ 419,395
Operating Profit (Loss)	25,439	6,643	51,720	17,534
Assets	793,074		793,074		$ 757,312
Industrial Tools & Services [Member] [Domain]
Segment Reporting Information [Line Items]
Net Sales	144,126	140,395	402,326	387,647
Operating Profit (Loss)	36,207	19,226	93,284	49,872
Assets	633,686		633,686		618,412
Products [Member]
Segment Reporting Information [Line Items]
Net Sales	117,868	109,915	320,980	299,761
Service & Rental [Member]
Segment Reporting Information [Line Items]
Net Sales	26,258	30,480	81,346	87,886
Other Operating Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	12,127	11,499	35,269	31,748
Operating Profit (Loss)	1,965	1,096	4,545	173
Assets	46,584		46,584		46,428
General Corporate
Segment Reporting Information [Line Items]
Operating Profit (Loss)	(12,733)	$ (13,679)	(46,109)	$ (32,511)
Assets	$ 112,804		$ 112,804		$ 92,472

Contingencies and Litigation -

Contingencies and Litigation - Additional Information (Details) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 9.4	$ 10.7

Leases Components of Lease Ex_2

Leases Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Components of Lease Expense [Abstract]
Operating Lease, Cost	$ 3,324	$ 3,540	$ 9,943	$ 10,962
Short-term Lease, Cost	612	391	1,696	1,241
Variable Lease, Cost	$ 836	$ 843	$ 3,059	$ 2,857

Leases Supplemental Cash Flow_2

Leases Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2023	May 31, 2022
Supplemental Cash Flow Information Related to Leases [Abstract]
Operating Lease, Payments	$ 9,845	$ 10,691
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 1,418	$ 4,101

Leases Leases (Details)

Leases Leases (Details)	May 31, 2023
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Minimum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	3 years
Maximum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	15 years