Chase (CCF) 10-Q 10 Jul 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May. 31, 2015	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	CHASE CORP
Entity Central Index Key	830,524
Document Type	10-Q
Document Period End Date	May 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,198,762
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Current Assets:
Cash & cash equivalents	$ 29,709	$ 53,222
Accounts receivable, less allowance for doubtful accounts of $839 and $670	36,394	35,601
Inventories	33,055	31,539
Prepaid expenses and other current assets	2,690	2,437
Due from sale of product line		739
Deferred income taxes	2,188	2,315
Total current assets	104,036	125,853
Property, plant and equipment, net	42,627	44,085
Other Assets:
Goodwill	44,081	38,280
Intangible assets, less accumulated amortization of $27,063 and $22,941	46,966	27,215
Cash surrender value of life insurance	7,256	7,249
Restricted investments	1,449	1,256
Funded pension plan	1,091	962
Deferred income taxes	450	470
Other assets	144	175
Total assets	248,100	245,545
Current Liabilities:
Accounts payable	15,362	15,121
Accrued payroll and other compensation	3,995	7,754
Accrued expenses	4,735	4,842
Accrued income taxes	1,425	1,377
Current portion of long-term debt	8,050	7,000
Total current liabilities	33,567	36,094
Long-term debt, less current portion	45,500	51,800
Deferred compensation	2,174	2,037
Accumulated pension obligation	10,626	10,418
Other liabilities	99	126
Accrued income taxes	1,049
Deferred income taxes	$ 7,567	$ 7,580
Commitments and Contingencies (Note 10)
Equity:
First Serial Preferred Stock, $1.00 par value: Authorized 100,000 shares; none issued
Common stock, $.10 par value: Authorized 20,000,000 shares; 9,198,762 shares at May 31, 2015 and 9,103,292 shares at August 31, 2014 issued and outstanding	$ 920	$ 910
Additional paid-in capital	14,653	13,620
Accumulated other comprehensive loss	(6,987)	(4,250)
Retained earnings	138,932	126,272
Chase Corporation stockholders' equity	147,518	136,552
Non-controlling interest		938
Total equity	147,518	137,490
Total liabilities and equity	$ 248,100	$ 245,545

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 839	$ 670
Intangible assets, accumulated amortization (in dollars)	$ 27,063	$ 22,941
First Serial Preferred Stock, par value (in dollars per share)	$ 1	$ 1
First Serial Preferred Stock, Authorized shares	100,000	100,000
First Serial Preferred Stock, issued shares	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, Authorized shares	20,000,000	20,000,000
Common stock, shares issued	9,198,762	9,103,292
Common stock, shares outstanding	9,198,762	9,103,292

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Revenue
Sales	$ 64,102	$ 56,973	$ 170,772	$ 161,040
Royalties and commissions	796	625	2,363	1,932
Total revenues	64,898	57,598	173,135	162,972
Costs and Expenses
Cost of products and services sold	40,144	37,067	108,859	106,496
Selling, general and administrative expenses	12,125	10,518	34,844	30,887
Operating income	12,629	10,013	29,432	25,589
Interest expense	(266)	(278)	(810)	(866)
Gain on sale of product line (Note 8)				5,706
Other income (expense)	(500)	(10)	266	(240)
Income before income taxes	11,863	9,725	28,888	30,189
Income taxes	4,697	3,404	10,656	10,566
Net income	7,166	6,321	18,232	19,623
Net loss (gain) attributable to non-controlling interest		3	(95)	(4)
Net income attributable to Chase Corporation	$ 7,166	$ 6,324	$ 18,137	$ 19,619
Net income available to common shareholders, per common and common equivalent share
Basic (in dollars per share)	$ 0.78	$ 0.69	$ 1.98	$ 2.16
Diluted (in dollars per share)	$ 0.77	$ 0.68	$ 1.95	$ 2.11
Weighted average shares outstanding
Basic (in shares)	9,093,602	8,950,763	9,076,386	8,943,849
Diluted (in shares)	9,245,953	9,165,482	9,216,731	9,161,343
Cash dividends paid per share			$ 0.60	$ 0.45

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 7,166	$ 6,321	$ 18,232	$ 19,623
Other comprehensive income:
Net unrealized (loss) gain on restricted investments, net of tax	11	(27)	3	46
Change in funded status of pension plans, net of tax	224	48	443	144
Foreign currency translation adjustment	(274)	130	(3,183)	2,313
Total other comprehensive (loss) income	(39)	151	(2,737)	2,503
Comprehensive income	7,127	6,472	15,495	22,126
Comprehensive (income) loss attributable to non-controlling interest		3	(95)	(4)
Comprehensive income attributable to Chase Corporation	$ 7,127	$ 6,475	$ 15,400	$ 22,122

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - 9 months ended May. 31, 2015 - USD ($) $ in Thousands	Chase Stockholders' Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (loss)	Retained Earnings	Non-controlling Interest	Total
Balance at Aug. 31, 2014	$ 136,552	$ 910	$ 13,620	$ (4,250)	$ 126,272	$ 938	$ 137,490
Balance (in shares) at Aug. 31, 2014		9,103,292
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures		$ 3	(3)
Restricted stock grants, net of forfeitures (in shares)		29,785
Amortization of restricted stock grants	629		629				629
Amortization of stock option grants	190		190				190
Exercise of stock options	2,158	$ 15	2,143				2,158
Exercise of stock options (in shares)		144,038
Common stock received for payment of stock option exercises	(1,767)	$ (5)	(1,762)				(1,767)
Common stock received for payment of stock option exercises (in shares)		(47,486)
Excess tax benefit (expense) from stock based compensation	730		730				730
Common stock retained to pay statutory minimum withholding taxes on common stock	(1,182)	$ (3)	(1,179)				(1,182)
Common stock retained to pay statutory minimum withholding taxes on common stock (in shares)		(30,867)
Annual cash dividend paid, $0.60 per share	(5,477)				(5,477)		(5,477)
Purchase of outstanding non-controlling interest	285		285			(1,033)	(748)
Change in funded status of pension plan, net of tax of $239	443			443			443
Foreign currency translation adjustment	(3,183)			(3,183)			(3,183)
Net unrealized gain (loss) on restricted investments, net of tax of $1	3			3			3
Net income	18,137				18,137	$ 95	18,232
Balance at May. 31, 2015	$ 147,518	$ 920	$ 14,653	$ (6,987)	$ 138,932		$ 147,518
Balance (in shares) at May. 31, 2015		9,198,762

CONSOLIDATED STATEMENTS OF EQU7

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	May. 31, 2015
CONSOLIDATED STATEMENT OF EQUITY
Annual cash dividend paid (in dollars per share)	$ 0.60
Change in funded status of pension plan, tax	$ 239
Net unrealized gain (loss) on restricted investments, tax	$ 1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May. 31, 2015	May. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 18,232	$ 19,623
Adjustments to reconcile net income to net cash provided by operating activities
Gain on sale of assets		(4)
Gain on sale of product line		(5,706)
Depreciation	4,238	4,278
Amortization	4,940	3,584
Cost of sale of inventory step-up	65
Provision on allowance for doubtful accounts	193	10
Stock based compensation	819	812
Realized gain on restricted investments	(79)	(57)
Decrease in cash surrender value life insurance	135	90
Excess tax benefit from stock based compensation	(730)	(156)
Pension settlement loss	177
Deferred taxes	(149)
Increase (decrease) from changes in assets and liabilities
Accounts receivable	(1,529)	(1,956)
Inventories	(1,295)	(2,649)
Prepaid expenses & other assets	(143)	(520)
Accounts payable	426	1,018
Accrued compensation and other expenses	(3,414)	(2,985)
Accrued income taxes	1,842	(779)
Deferred compensation	138	76
Net cash provided by operating activities	23,866	14,679
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(1,954)	(3,460)
Payments for acquisitions	(33,285)
Cost to acquire intangible assets	(34)	(105)
Contingent purchase price paid for acquisition		(156)
Proceeds from sale of fixed assets		14
Net proceeds from sale of product line	739	9,179
Contributions from restricted investments	(110)	24
Payments for cash surrender value life insurance	(138)	(137)
Net cash provided by (used in) investing activities	(34,782)	5,359
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings on debt	2,000	2,104
Payments of principal on debt	(7,250)	(6,304)
Dividend paid	(5,477)	(4,093)
Proceeds from exercise of common stock options	392	32
Payments of statutory minimum taxes on stock options and restricted stock	(1,182)	(190)
Excess tax benefit from stock based compensation	730	156
Payment for acquistion of non-controlling interest	(500)
Net cash used in financing activities	(11,287)	(8,295)
(DECREASE) INCREASE IN CASH & CASH EQUIVALENTS	(22,203)	11,743
Effect of foreign exchange rates on cash	(1,310)	835
CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD	53,222	29,997
CASH & CASH EQUIVALENTS, END OF PERIOD	29,709	42,575
Non-cash Investing and Financing Activities
Common stock received for payment of stock option exercises	1,767	579
Property, plant & equipment additions included in accounts payable	99	$ 59
Deferred tax assets and liabilities acquired from non-controlling interest	$ 248

Basis of Presentation

Basis of Presentation	9 Months Ended
	May. 31, 2015
Basis of Presentation
Basis of Presentation	Note 1 - Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Therefore, they do not include all information and footnote disclosure necessary for a complete presentation of Chase Corporation’s financial position, results of operations and cash flows, in conformity with generally accepted accounting principles. Chase Corporation (the “Company,” “Chase,” “we,” or “us”) filed audited consolidated financial statements, which included all information and notes necessary for such complete presentation for the three years ended August 31, 2014 in conjunction with its 2014 Annual Report on Form 10-K. Certain immaterial reclassifications have been made to the prior year amounts to conform to the current year’s presentation. The results of operations for the interim periods ended May 31, 2015 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended August 31, 2014, which are contained in the Company’s 2014 Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring items) which are, in the opinion of management, necessary for a fair statement of the Company’s financial position as of May 31, 2015, the results of operations, comprehensive income and cash flows for the interim periods ended May 31, 2015 and 2014, and changes in equity for the interim period ended May 31, 2015. The financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Company uses the US dollar as the reporting currency for financial reporting. The financial position and results of operations of the Company’s UK-based operations are measured using the UK pound sterling as the functional currency and the financial position and results of operations of the Company’s operations based in France are measured using the euro as the functional currency. Foreign currency translation gains and losses are determined using current exchange rates for monetary items and historical exchange rates for other balance sheet items and are recorded as a change in other comprehensive income. Transaction gains and losses generated from the remeasurement of assets and liabilities denominated in currencies other than the functional currency of our foreign operations are included in Other (expense) / income on the consolidated statements of operations. On January 30, 2015, the Company acquired two product lines from Henkel Corporation (the “Seller”). The product lines were acquired for a purchase price of $33,285, excluding any acquisition related costs. As part of this transaction, Chase acquired the Seller’s microspheres product line, sold under the Dualite® brand, located in Greenville, SC, and obtained exclusive distribution rights and intellectual property related to the Seller’s polyurethane dispersions product line, operating in the Elgin, IL location. We refer to these collectively as the specialty chemical product lines. Under the agreement, Chase entered into a ten-year facility operating lease at the Seller’s Greenville, SC location. The Seller will perform certain manufacturing and application services for Chase at the Seller’s Elgin, IL location for three years. The purchase was funded entirely with available cash on hand. Since the effective date for this acquisition, the financial results of the specialty chemical product lines have been included in the Company’s financial statements within the Company’s Industrial Materials operating segment. Purchase accounting was completed in the quarter ended May 31, 2015 with no material adjustments made to the initial amounts recorded at the end of the second fiscal quarter. Please see Note 14 to the Consolidated Financial Statements for additional information on the acquisition of the specialty chemical product lines. On October 31, 2014, the Company purchased the 50% non-controlling membership interest of NEPTCO JV LLC (the “JV”) owned by its now-former joint venture partner, an otherwise unrelated party. Because of the Company’s controlling financial interest, the JV’s assets, liabilities and results of operations have been consolidated within the Company’s consolidated financial statements since June 27, 2012, the date the Company acquired NEPTCO. The Company continues to fully consolidate the assets, liabilities and results of operations of the JV, but no longer records an offsetting amount for a non-controlling interest subsequent to October 31, 2014. The ($95) recorded in the Consolidated Statement of Operations as Net (gain) loss attributable to non-controlling interest for the nine months ended May 31, 2015, represents the now-former joint venture partner’s share of the results of operations of the JV for the period from September 1, 2014 through October 31, 2014.

Recent Accounting Policies

Recent Accounting Policies	9 Months Ended
	May. 31, 2015
Recent Accounting Policies
Recent Accounting Policies	Note 2 — Recent Accounting Policies Recently Issued Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers”, which will replace most of the existing revenue recognition guidance under U.S. Generally Accepted Accounting Principles. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The ASU will be effective for the Company beginning September 1, 2017 (fiscal 2018), including interim periods in its fiscal year 2018, and allows for either retrospective or modified retrospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on the Company’s consolidated financial position, results of operations and cash flows. In February 2015, the FASB issued ASU No. 2015-2, “Consolidation (Topic 820): Amendments to the Consolidation Analysis.” ASU 2015-2 provides a revised consolidation model for all reporting entities to use in evaluating whether they should consolidate certain legal entities. All legal entities will be subject to reevaluation under this revised consolidation model. The revised consolidation model, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. ASU 2015-2 is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after September 1, 2016 (fiscal 2017). We are still evaluating what impact, if any, this ASU will have on the Company’s consolidated financial position, results of operations and cash flows.

Inventories

Inventories	9 Months Ended
	May. 31, 2015
Inventories
Inventories	Note 3 — Inventories Inventories consist of the following as of May 31, 2015 and August 31, 2014: May 31, 2015 August 31, 2014 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share

Net Income Per Share	9 Months Ended
	May. 31, 2015
Net Income Per Share
Net Income Per Share	Note 4 — Net Income Per Share The Company has unvested share-based payment awards with a right to receive nonforfeitable dividends which are considered participating securities under ASC Topic 260, “Earnings Per Share”. The Company allocates earnings to participating securities and computes earnings per share using the two class method. The determination of earnings per share under the two class method is as follows: Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Basic Earnings per Share Net income attributable to Chase Corporation $ $ $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ $ $ Basic weighted average shares outstanding Net income per share - Basic $ $ $ $ Diluted Earnings per Share Net income attributable to Chase Corporation $ $ $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ $ $ Basic weighted average shares outstanding Additional dilutive common stock equivalents Diluted weighted average shares outstanding Net income per share - Diluted $ $ $ $ For the three and nine months ended May 31, 2015, stock options to purchase 15,169 and 22,750 shares of common stock were outstanding, respectively, but were not included in the calculation of diluted income per share because their inclusion would be anti-dilutive. For the three and nine months ended May 31, 2014, stock options to purchase 25,969 and 18,222 shares of common stock were outstanding, respectively, but were not included in the calculation of diluted income per share because their inclusion would be anti-dilutive. Included in the calculation of dilutive common stock equivalents are the unvested portion of restricted stock and stock options.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	May. 31, 2015
Stock Based Compensation
Stock Based Compensation	Note 5 — Stock Based Compensation In September 2013, the Board of Directors of the Company approved the fiscal year 2014 Long Term Incentive Plan (“2014 LTIP”) for the executive officers and other members of management. The 2014 LTIP is an equity based plan with a grant date of September 1, 2013 and contains a performance and service based restricted stock grant of 7,529 shares in the aggregate, subject to adjustment, with a vesting date of August 31, 2016. Based on the fiscal year 2014 financial results, 5,485 additional shares of restricted stock (total of 13,014 shares) were earned and granted subsequent to the end of fiscal year 2014 in accordance with the performance measurement criteria. No further performance-based measurements apply to this award. Compensation expense is being recognized on a ratable basis over the vesting period. In August 2014, the Board of Directors of the Company approved the fiscal year 2015 Long Term Incentive Plan (“2015 LTIP”) for the executive officers and other members of management. The 2015 LTIP is an equity-based plan with a grant date of September 1, 2014 and contains the following equity components: Restricted Shares — (a) a performance-and-service based restricted stock grant of 6,993 shares in the aggregate, subject to adjustment based on fiscal 2015 results, with a vesting date of August 31, 2017. Compensation expense is recognized on a ratable basis over the vesting period based on quarterly probability assessments; (b) time-based restricted stock grant of 8,132 shares in the aggregate, with a vesting date of August 31, 2017. Compensation expense is recognized on a ratable basis over the vesting period. Stock options — options to purchase 22,750 shares of common stock in the aggregate with an exercise price of $35.50 per share. The options will vest in three equal annual installments beginning on August 31, 2015 and ending on August 31, 2017. Of the options granted, 7,438 will expire on August 31, 2024 and 15,312 will expire on September 1, 2024. Compensation expense is recognized over the period of the award on an annual basis consistent with the vesting terms. As part of their annual retainer, non-employee members of the Board of Directors receive a combined total of $194 of Chase Corporation common stock, in the form of restricted stock valued in conjunction with the start of the new year of Board service which generally coincides with the Company’s annual shareholder meeting. The stock award vests one year from the date of grant. In February 2015, non-employee members of the Board received a total grant of 5,361 shares of restricted stock for service for the period from January 31, 2015 through January 31, 2016. The shares of restricted stock will vest at the conclusion of this service period. Compensation is being recognized on a ratable basis over the twelve-month vesting period. During the quarter ended May 31, 2015, an additional 16,000 restricted shares were issued to non-executive members of management; 15,000 with a vesting date of April 16, 2020 and 1,000 with a vesting date of January 31, 2018. Compensation expense is being recognized on a ratable basis over the vesting period.

Segment Data & Foreign Operatio

Segment Data & Foreign Operations	9 Months Ended
	May. 31, 2015
Segment Data & Foreign Operations
Segment Data & Foreign Operations	Note 6 — Segment Data & Foreign Operations The Company is organized into two operating segments, an Industrial Materials segment and a Construction Materials segment. The segments are distinguished by the nature of the products and how they are delivered to their respective markets. The Industrial Materials segment reflects specified products that are used in, or integrated into, another company’s product with demand typically dependent upon general economic conditions. Industrial Materials products include insulating and conducting materials for wire and cable manufacturers, moisture protective coatings for electronics and printing services, laminated durable papers, laminates for the packaging and industrial laminate markets, pulling and detection tapes used in the installation, measurement and location of fiber optic cables and water and natural gas lines, cover tapes essential to delivering semiconductor components via tape and reel packaging, and wind energy composite materials and elements. This segment also includes glass-based strength elements products designed to allow fiber optic cables to withstand mechanical and environmental strain and stress and which we operated as a joint venture prior to October 31, 2014. Further, beginning January 30, 2015, the Industrial Materials segment includes microspheres, sold under the Dualite brand, and polyurethane dispersions; both obtained through acquisition, and included in the Company’s specialty chemical product line. The Construction Materials segment is composed of typically project-oriented product offerings that are primarily sold and used as “Chase” branded products. Construction Materials products include protective coatings for pipeline applications, coating and lining systems for use in liquid storage and containment applications, adhesives and sealants used in architectural and building envelope water proofing applications, high performance polymeric asphalt additives, and expansion and control joint systems for use in the transportation and architectural markets. The following tables summarize information about the Company’s reportable segments: Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Revenue Industrial Materials $ $ $ $ Construction Materials Total $ $ $ $ Income before income taxes Industrial Materials $ (a) $ (c) $ (a) $ (c),(d) Construction Materials (c) (c) Total for reportable segments Corporate and Common Costs ) )(c) )(b) )(c) Total $ $ $ $ Includes the following costs by segment: Industrial Materials Interest $ $ $ $ Depreciation Amortization Construction Materials Interest $ $ $ $ Depreciation Amortization (a) Includes $16 and $65 of expenses for the three months and nine months ended May 31, 2015, respectively, related to inventory step-up in fair value related to the January 2015 acquisition of the specialty chemical product lines (b) Includes $584 in expenses related to the January 2015 acquisition of the specialty chemical product lines (c) Includes the reclassification of $2,113, $1,326, $7,542 and $2,820 of expenses from Industrial Materials and Construction Materials segments, respectively, resulting in a net increase in Corporate and Common Costs for the third fiscal quarter of 2014 and the year to date period ended May 31, 2014, respectively. The reclassification reflects the methodology with which the Company internally reviews expenses in the current year (d) Includes $5,706 gain on sale of Insulfab product line, for the year to date period ended May 31, 2014 The Company’s products are sold world-wide. For the quarters ended May 31, 2015 and 2014, sales from its operations located in the United Kingdom accounted for 15% and 11% of total Company revenue, respectively. In the fiscal year to date period, sales from its operations located in the United Kingdom accounted for 13% of total Company revenue compared to 10% in the same period in fiscal 2014. No other foreign geographic area accounted for more than 10% of consolidated revenue for the three and nine month periods ended May 31, 2015 and 2014. Total assets for the Company’s reportable segments as of May 31, 2015 and August 31, 2014: May 31, 2015 August 31, 2014 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and Common Assets Total $ $ As of May 31, 2015 and August 31, 2014, the Company had long-lived assets (that provide future economic benefit beyond the current year or operating period, including buildings, equipment and leasehold improvements) of $3,870 and $4,349, respectively, located in the United Kingdom. These balances exclude goodwill and intangibles of $9,504 and $9,924, as of May 31, 2015 and August 31, 2014, respectively, associated with its operations in the United Kingdom.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	May. 31, 2015
Goodwill and Other Intangibles
Goodwill and Other Intangibles	Note 7 — Goodwill and Other Intangibles The changes in the carrying value of goodwill are as follows: Industrial Materials Construction Materials Consolidated Balance at August 31, 2014 $ $ $ Acquisition of specialty chemical product lines Foreign currency translation adjustment ) ) ) Balance at May 31, 2015 $ $ $ The Company’s goodwill is allocated to each reporting unit based on the nature of the products manufactured by the respective business combinations that originally created the goodwill. The Company identified several reporting units within each of its two operating segments that are used to evaluate the possible impairment of goodwill. Goodwill impairment exists when the carrying amount of goodwill exceeds its fair value. Assessments of possible impairment of goodwill are made when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations. Additionally, testing for possible impairment of recorded goodwill balances is required annually. The amount and timing of any impairment charges based on these assessments require the forecasting of future cash flows and the fair market value of the related assets based on management’s best forecast of certain key factors, including future selling prices and volumes, operating, raw material and energy costs, and various other projected operating and economic factors. When testing, fair values of the reporting units and the related implied fair values of their respective goodwill are established using public company analysis and discounted cash flows. The Company evaluates the possible impairment of goodwill annually each fourth quarter and whenever events or circumstances indicate the carrying value of goodwill may not be recoverable. Intangible assets subject to amortization consist of the following as of May 31, 2015 and August 31, 2014: Weighted-Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value May 31, 2015 Patents and agreements 12.1 years $ $ $ Formulas and technology 8.4 years Trade names 5.9 years Customer lists and relationships 9.3 years $ $ $ August 31, 2014 Patents and agreements 11.9 years $ $ $ Formulas and technology 9.1 years Trade names 5.7 years Customer lists and relationships 10.2 years $ $ $ Aggregate amortization expense related to intangible assets for the nine months ended May 31, 2015 and 2014 was $4,940 and $3,584, respectively. Estimated amortization expense for the remainder of fiscal year 2015 and for the next five years is as follows: Years ending August 31, 2015 (remaining 3 months) $ 2016 2017 2018 2019 2020

Sale of Insulfab Product Line

Sale of Insulfab Product Line	9 Months Ended
	May. 31, 2015
Sale of Insulfab Product Line
Sale of Insulfab Product Line	Note 8 — Sale of Insulfab Product Line On October 7, 2013, the Company sold substantially all of the property and assets, including intellectual property, comprising the Insulfab® product line, to an unrelated third party (“Buyer”). The Insulfab product line is primarily focused on manufacturing high quality, engineered barrier laminates used in aerospace applications. The sale proceeds of $7,394 were subject to certain post-closing adjustments based on the change in the final net book value compared to the bid date net book value. In the quarter ended November 30, 2013, management determined these post-closing adjustments resulted in an increase in the sale proceeds of $2,516 based on the increase of inventory sold to the Buyer at closing. This adjustment was settled and paid by the Buyer to the Company in the quarter ending February 28, 2014, net of amounts held in escrow. The net proceeds from the sale are available for debt reduction, investment in the Company’s core businesses and future acquisitions. This transaction resulted in a pre-tax book gain of $5,706 ($3,709 after-tax gain) which was recorded in the quarter ending November 30, 2013. The portion of the sale price held in escrow of $739 was recorded as a current asset (Due from sale of product line) as of August 31, 2014 and was available to resolve any submitted claims or adjustments up to 18 months from the closing date of the Insulfab sale. The escrow was released and the Company received the full $739 during the quarter ended May 31, 2015.

Joint Venture

Joint Venture	9 Months Ended
	May. 31, 2015
Joint Venture
Joint Venture	Note 9 — Joint Venture On October 31, 2014, the Company purchased the 50% non-controlling membership interest of NEPTCO JV LLC (the “JV”) owned by its now-former joint venture partner, an otherwise unrelated party. The purchase consideration is subject to certain contingent adjustments based on certain future events related to the JV. The purchase price, including these contingent adjustments, was not, nor will be, material to the Company. Because of the Company’s controlling financial interest, the JV’s assets, liabilities and results of operations have been consolidated within the Company’s consolidated financial statements since June 27, 2012, the date the Company acquired NEPTCO. The Company continues to fully consolidate the assets, liabilities and results of operations of the JV, but no longer records an offsetting amount for a non-controlling interest. The ($95) recorded in the Consolidated Statement of Operations as Net (gain) loss attributable to non-controlling interest for the nine months ended May 31, 2015, represents the now-former joint venture partner’s share of the results of operations of the JV for the period from September 1, 2014 through October 31, 2014. The Company accounted for the joint venture partner’s non-controlling interest in the JV under ASC Topic 810 “Consolidations” (“ASC 810”). Based on the criteria in ASC 810, the Company had determined that the JV qualified as a variable interest entity (“VIE”). Under the JV agreement, which terminated with the Company’s October 2014 acquisition of the 50% outstanding non-controlling membership interest in the JV, the JV had agreed to purchase a minimum of 80% of its total glass fiber requirements from the now-former joint venture partner. Additionally, the JV agreed to purchase private-label products exclusively from an affiliate of the now-former joint venture partner; however, the JV was not subject to a minimum purchase requirement on private-label products. Purchases from the now-former joint venture partner totaled $332 for the period from September 1, 2014 through October 31, 2014 and $383 and $1,150 for the three and nine month periods ended May 31, 2014, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	Note 10 — Commitments and Contingencies The Company is involved from time to time in litigation incidental to the conduct of its business. Although the Company does not expect that the outcome in any of these matters, individually or collectively, will have a material adverse effect on its financial condition, results of operations or cashflows, litigation is inherently unpredictable. Therefore, judgments could be rendered or settlements entered, that could adversely affect the Company’s operating results or cash flows in a particular period. The Company routinely assesses all of its litigation and threatened litigation as to the probability of ultimately incurring a liability, and records its best forecast of the ultimate loss in situations where the Company assesses the likelihood of loss as probable.

Pensions and Other Post Retirem

Pensions and Other Post Retirement Benefits	9 Months Ended
	May. 31, 2015
Pensions and Other Post Retirement Benefits
Pensions and Other Post Retirement Benefits	Note 11 - Pensions and Other Post Retirement Benefits The components of net periodic benefit cost for the three and nine months ended May 31, 2015 and 2014 are as follows: Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service cost Amortization of unrecognized loss Settlement loss — — Net periodic benefit cost $ $ $ $ When funding is required, the Company’s policy is to contribute amounts that are deductible for federal income tax purposes. As of May 31, 2015, the Company has made contributions of $214 in the current fiscal year to fund its obligations under its pension plans, and plans to make the necessary contributions over the remainder of fiscal 2015 to ensure the qualified plan continues to be adequately funded given the current market conditions. The Company made contributions of $200 in the first nine months of the prior year.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	May. 31, 2015
Fair Value Measurements
Fair Value Measurements	Note 12 — Fair Value Measurements The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. The Company uses a three-tier fair value hierarchy, which classifies the inputs used in measuring fair values. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company utilizes the best available information in measuring fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The financial assets classified as Level 1 as of May 31, 2015 and August 31, 2014 represent investments that are restricted for use in a nonqualified retirement savings plan for certain key employees and directors. The following table sets forth the Company’s financial assets that were accounted for at fair value on a recurring basis as of May 31, 2015 and August 31, 2014: Fair value measurement category Fair value measurement date Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Restricted investments May 31, 2015 $ $ $ $ — Restricted investments August 31, 2014 $ $ $ $ — The following table presents the fair value of the Company’s long-term debt as of May 31, 2015 and August 31, 2014, which is recorded at its carrying value: Fair value measurement category Fair value measurement date Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Liabilities: Long-term debt May 31, 2015 $ $ — $ $ — Long-term debt August 31, 2014 $ $ — $ $ — The carrying value of the long-term debt approximates its fair value, as the monthly interest rate is set based on the movement of the underlying market rates.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	May. 31, 2015
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income	Note 13 — Accumulated Other Comprehensive Income The changes in accumulated other comprehensive income (loss), net of tax, were as follows: Restricted Investments Change in Funded Status of Pension Plan Foreign Currency Translation Adjustment Total Balance at August 31, 2014 $ $ ) $ $ ) Other comprehensive gains (losses) before reclassifications (1) — ) ) Reclassifications to net income of previously deferred (gains) losses (2) ) — Other comprehensive income (loss) ) ) Balance at May 31, 2015 $ $ ) $ ) $ ) (1) Net of tax benefit of $29, $0, $0, respectively. (2) Net of tax expense of $28, tax benefit of $239, $0, respectively. The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the unaudited condensed consolidated statements of income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended May 31, Nine Months Ended May 31, Location of Gain (Loss) Reclassified from Accumulated 2015 2014 2015 2014 Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: Realized gain on sale of restricted investments $ ) $ ) $ ) $ ) Selling, general and administrative expenses Tax expense (benefit) Gain net of tax $ ) $ ) $ ) $ ) Loss on Funded Pension Plan adjustments: Amortization of prior pension service costs and unrecognized losses $ $ $ $ Cost of products and services sold Amortization of prior pension service costs and unrecognized losses Selling, general and administrative expenses Pension settlement costs — — Selling, general and administrative expenses Tax expense (benefit) ) ) ) ) Loss net of tax $ $ $ $ Total net loss reclassified for the period $ $ $ $

Acquisition of Specialty Chemic

Acquisition of Specialty Chemical Intermediates Product Lines	9 Months Ended
	May. 31, 2015
Acquisition of Specialty Chemical Intermediates Product Lines
Acquisition of Specialty Chemical Intermediates Product Lines	Note 14 — Acquisition of Specialty Chemical Intermediates Product Lines On January 30, 2015, the Company acquired two product lines from Henkel Corporation (the “Seller”). The product lines were acquired for a purchase price of $33,285, after working capital adjustments and excluding any acquisition related costs. As part of this transaction, Chase acquired the Seller’s microspheres product line, sold under the Dualite brand, located in Greenville, SC, and obtained exclusive distribution rights and intellectual property related to the Seller’s polyurethane dispersions product line, operating in the Elgin, IL location. Under the agreement, Chase entered into a ten-year facility operating lease at the Seller’s Greenville, SC location. The Seller will perform certain manufacturing and application services for Chase at the Seller’s Elgin, IL location for the next three years. The purchase was funded entirely with available cash on hand. Since the effective date for this acquisition, January 30, 2015, the financial results of the specialty chemical product lines, have been included in the Company’s financial statements within the Industrial Materials operating segment. The acquisition was accounted for as a business combination under ASC Topic 805, “Business Combinations.” In accordance with this accounting standard, the Company expensed $584 of acquisition-related costs during the nine-month period ended May 31, 2015 to selling, general and administrative expenses. Purchase accounting was completed in the quarter ended May 31, 2015 with no material adjustments made to the initial amounts recorded at the end of the second fiscal quarter. The purchase price has been allocated to the acquired tangible and identifiable intangible assets assumed, based on their fair values as of the date of the acquisition: Assets & Liabilities Amount Inventory $ Property, plant & equipment Goodwill Intangible assets Total purchase price $ The excess of the purchase price over the net tangible and intangible assets acquired resulted in goodwill of $6,371 that is largely attributable to the synergies and economies of scale from combining the operations and technologies of Chase and the two product lines, particularly as it pertains to the expansion of the Company’s product and service offerings, the established workforce, and marketing efforts. This goodwill is not deductible for income tax purposes. All assets, including goodwill, acquired as part of the specialty chemical product lines are included in the Industrial Materials operating segment. Identifiable intangible assets purchased with this transaction are as follows: Intangible Asset Amount Useful life Customer relationships $ 8 years Technology 7 years Trade name 7 years Backlog 2 months Total intangible assets $ Supplemental Pro Forma Data The following table presents the pro forma results of the Company for the three month period ended May 31, 2014 and nine month periods ended May 31, 2015 and 2014, as though the specialty chemical product lines acquisition described above occurred on September 1, 2013. The actual revenue and expenses for the specialty chemical product lines acquisition are included in the Company’s fiscal 2015 consolidated results beginning on January 30, 2015. Revenue and net gain attributable to Chase Corporation for the specialty chemicals product lines since the acquisition date included in the consolidated statement of operations are $7,236 and $204, respectively, inclusive of the effects of the $584 in acquisition costs, $65 in sale of inventory step-up cost and additional amortization expense recognized as part of the transaction. The pro forma results include adjustments for the estimated amortization of intangibles, acquisition related costs, sale of inventory step-up cost and the income tax impact of the pro forma adjustments at the statutory rate of 35%. The following pro forma information is not necessarily indicative of the results that would have been achieved if the acquisition had been effective on September 1, 2013. Three Months Ended May 31, Nine Months Ended May 31, 2014 2015 2014 Revenue $ $ $ Net Income $ $ Net income attributable to Chase Corporation $ $ $ Net income available to common shareholders, per common and common equivalent share Basic earnings per share $ $ $ Diluted earnings per share $ $ $

Subsequent events

Subsequent events	9 Months Ended
	May. 31, 2015
Subsequent events
Subsequent events	Note 15 — Subsequent events In June 2015, subsequent to the third fiscal quarter, Chase entered into an agreement to sell certain assets of its structural composites product line. This transaction is conditional upon the execution of a definitive asset purchase agreement and certain other deliverables including the transfer of tangible assets and intellectual property. It is anticipated that this transaction will close sometime in the fourth quarter of fiscal 2015 or the first quarter of fiscal 2016, if these conditions are met. The Company has determined the net book value of the assets anticipated to be sold are immaterial to the financial statements, and that these assets will qualify for held for sale disclosure under ASC Topic 360, “Property, Plant and Equipment” for subsequent periods.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	May. 31, 2015
Inventories
Schedule of inventories	May 31, 2015 August 31, 2014 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	May. 31, 2015
Net Income Per Share
Schedule of determination of earnings per share under the two-class method	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Basic Earnings per Share Net income attributable to Chase Corporation $ $ $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ $ $ Basic weighted average shares outstanding Net income per share - Basic $ $ $ $ Diluted Earnings per Share Net income attributable to Chase Corporation $ $ $ $ Less: Allocated to participating securities Net income available to common shareholders $ $ $ $ Basic weighted average shares outstanding Additional dilutive common stock equivalents Diluted weighted average shares outstanding Net income per share - Diluted $ $ $ $

Segment Data & Foreign Operat26

Segment Data & Foreign Operations (Tables)	9 Months Ended
	May. 31, 2015
Segment Data & Foreign Operations
Summary of information about the Company's reportable segments	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Revenue Industrial Materials $ $ $ $ Construction Materials Total $ $ $ $ Income before income taxes Industrial Materials $ (a) $ (c) $ (a) $ (c),(d) Construction Materials (c) (c) Total for reportable segments Corporate and Common Costs ) )(c) )(b) )(c) Total $ $ $ $ Includes the following costs by segment: Industrial Materials Interest $ $ $ $ Depreciation Amortization Construction Materials Interest $ $ $ $ Depreciation Amortization (a) Includes $16 and $65 of expenses for the three months and nine months ended May 31, 2015, respectively, related to inventory step-up in fair value related to the January 2015 acquisition of the specialty chemical product lines (b) Includes $584 in expenses related to the January 2015 acquisition of the specialty chemical product lines (c) Includes the reclassification of $2,113, $1,326, $7,542 and $2,820 of expenses from Industrial Materials and Construction Materials segments, respectively, resulting in a net increase in Corporate and Common Costs for the third fiscal quarter of 2014 and the year to date period ended May 31, 2014, respectively. The reclassification reflects the methodology with which the Company internally reviews expenses in the current year (d) Includes $5,706 gain on sale of Insulfab product line, for the year to date period ended May 31, 2014
Schedule of total assets for the Company's reportable segments	May 31, 2015 August 31, 2014 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and Common Assets Total $ $

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	May. 31, 2015
Goodwill and Other Intangibles
Schedule of changes in the carrying value of goodwill by operating segment	Industrial Materials Construction Materials Consolidated Balance at August 31, 2014 $ $ $ Acquisition of specialty chemical product lines Foreign currency translation adjustment ) ) ) Balance at May 31, 2015 $ $ $
Schedule of intangible assets subject to amortization	Weighted-Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value May 31, 2015 Patents and agreements 12.1 years $ $ $ Formulas and technology 8.4 years Trade names 5.9 years Customer lists and relationships 9.3 years $ $ $ August 31, 2014 Patents and agreements 11.9 years $ $ $ Formulas and technology 9.1 years Trade names 5.7 years Customer lists and relationships 10.2 years $ $ $
Schedule of estimated amortization expense related to intangible assets	Years ending August 31, 2015 (remaining 3 months) $ 2016 2017 2018 2019 2020

Pensions and Other Post Retir28

Pensions and Other Post Retirement Benefits (Tables)	9 Months Ended
	May. 31, 2015
Pensions and Other Post Retirement Benefits
Schedule of components of net periodic benefit cost	Three Months Ended May 31, Nine Months Ended May 31, 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of prior service cost Amortization of unrecognized loss Settlement loss — — Net periodic benefit cost $ $ $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	May. 31, 2015
Fair Value Measurements
Schedule of financial assets that were accounted for at fair value on a recurring basis	Fair value measurement category Fair value measurement date Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Restricted investments May 31, 2015 $ $ $ $ — Restricted investments August 31, 2014 $ $ $ $ —
Schedule of fair values of the Company's long-term debt	Fair value measurement category Fair value measurement date Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Liabilities: Long-term debt May 31, 2015 $ $ — $ $ — Long-term debt August 31, 2014 $ $ — $ $ —

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	May. 31, 2015
Accumulated Other Comprehensive Income
Schedule of components of accumulated other comprehensive income (loss)	Restricted Investments Change in Funded Status of Pension Plan Foreign Currency Translation Adjustment Total Balance at August 31, 2014 $ $ ) $ $ ) Other comprehensive gains (losses) before reclassifications (1) — ) ) Reclassifications to net income of previously deferred (gains) losses (2) ) — Other comprehensive income (loss) ) ) Balance at May 31, 2015 $ $ ) $ ) $ ) (1) Net of tax benefit of $29, $0, $0, respectively. (2) Net of tax expense of $28, tax benefit of $239, $0, respectively.
Summary of the reclassifications from accumulated other comprehensive income (loss) to the unaudited condensed consolidated statements of income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income Three Months Ended May 31, Nine Months Ended May 31, Location of Gain (Loss) Reclassified from Accumulated 2015 2014 2015 2014 Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: Realized gain on sale of restricted investments $ ) $ ) $ ) $ ) Selling, general and administrative expenses Tax expense (benefit) Gain net of tax $ ) $ ) $ ) $ ) Loss on Funded Pension Plan adjustments: Amortization of prior pension service costs and unrecognized losses $ $ $ $ Cost of products and services sold Amortization of prior pension service costs and unrecognized losses Selling, general and administrative expenses Pension settlement costs — — Selling, general and administrative expenses Tax expense (benefit) ) ) ) ) Loss net of tax $ $ $ $ Total net loss reclassified for the period $ $ $ $

Acquisition of Specialty Chem31

Acquisition of Specialty Chemical Intermediates Product Lines (Tables)	9 Months Ended
	May. 31, 2015
Schedule of identifiable intangible assets purchased as part of business acquisition	Intangible Asset Amount Useful life Customer relationships $ 8 years Technology 7 years Trade name 7 years Backlog 2 months Total intangible assets $
Schedule of pro forma information	Three Months Ended May 31, Nine Months Ended May 31, 2014 2015 2014 Revenue $ $ $ Net Income $ $ Net income attributable to Chase Corporation $ $ $ Net income available to common shareholders, per common and common equivalent share Basic earnings per share $ $ $ Diluted earnings per share $ $ $
Henkel Corporation ( Seller)
Schedule of allocation of acquisition cost to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values as of the date of the acquisition	Assets & Liabilities Amount Inventory $ Property, plant & equipment Goodwill Intangible assets Total purchase price $

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	Jan. 30, 2015USD ($)item	Oct. 31, 2014USD ($)	May. 31, 2014USD ($)	May. 31, 2015USD ($)	May. 31, 2014USD ($)
Basis of Presentation
Net (gain) loss attributable to non-controlling interest			$ (3)	$ 95	$ 4
NEPTCO
Basis of Presentation
Net (gain) loss attributable to non-controlling interest		$ (95)
NEPTCO | JV | Joint venture partner
Basis of Presentation
Membership interest purchased		50.00%
Henkel Corporation ( Seller)
Basis of Presentation
Number Of Product Lines Acquired | item	2
Purchase price	$ 33,285
Lease term	10 years
Period to perform certain manufacturing and application services	3 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Inventories
Raw materials	$ 13,605	$ 13,785
Work in process	7,941	7,359
Finished goods	11,509	10,395
Total Inventories	$ 33,055	$ 31,539

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Basic Earnings per Share
Net income attributable to Chase Corporation	$ 7,166	$ 6,324	$ 18,137	$ 19,619
Less: Allocated to participating securities	60	106	141	333
Net income available to common shareholders	$ 7,106	$ 6,218	$ 17,996	$ 19,286
Basic weighted average shares outstanding	9,093,602	8,950,763	9,076,386	8,943,849
Net income per share - Basic (in dollars per share)	$ 0.78	$ 0.69	$ 1.98	$ 2.16
Diluted Earnings per Share
Net income attributable to Chase Corporation	$ 7,166	$ 6,324	$ 18,137	$ 19,619
Less: Allocated to participating securities	59	103	134	325
Net income available to common shareholders	$ 7,107	$ 6,221	$ 17,998	$ 19,294
Basic weighted average shares outstanding	9,093,602	8,950,763	9,076,386	8,943,849
Additional dilutive common stock equivalents (in shares)	152,351	214,719	140,345	217,494
Diluted weighted average shares outstanding	9,245,953	9,165,482	9,216,731	9,161,343
Net income per share - Diluted (in dollars per share)	$ 0.77	$ 0.68	$ 1.95	$ 2.11
Antidilutive securities
Antidilutive stock options excluded from computation of earnings per share amount (in shares)	15,169	25,969	22,750	18,222

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	Sep. 02, 2014USD ($)shares	Sep. 01, 2014item$ / sharesshares	Sep. 01, 2013shares	Feb. 28, 2015shares	May. 31, 2015shares	Aug. 31, 2014shares
RSU | Non-executive members of management
Stock Based Compensation
Shares granted					16,000
RSU | Non-executive members of management | April 16, 2020 vesting date
Stock Based Compensation
Shares vested					15,000
RSU | Non-executive members of management | January 31, 2018 Vesting date
Stock Based Compensation
Shares vested					1,000
2014 LTIP | Performance and service based restricted stock | Executive officers
Stock Based Compensation
Shares granted						5,485
Cumulative shares granted						13,014
2014 LTIP | Performance and service based restricted stock | Executive officers | August 31, 2016 vesting date
Stock Based Compensation
Shares granted			7,529
2014 LTIP | Stock options | Executive officers and other members of management
Stock Based Compensation
Number Options Outstanding (in shares)		22,750
Weighted Average Exercise Price (in dollars per share) | $ / shares		$ 35.50
Number of equal annual allotments in which awards will vest | item		3
Stock options expiring August 31, 2024		7,438
Stock options expiring on September 1, 2024		15,312
2015 LTIP | Non-employee members of BOD
Stock Based Compensation
Value of common stock issued in the form of restricted stock as part of annual retainer | $	$ 194
Vesting period	1 year
2015 LTIP | Performance and service based restricted stock | Executive officers and other members of management | August 31, 2017 vesting date
Stock Based Compensation
Shares granted	6,993
2015 LTIP | Time-based restricted stock | Executive officers and other members of management | August 31, 2017 vesting date
Stock Based Compensation
Shares granted	8,132
2015 LTIP | Service based restricted stock | Non-employee members of BOD
Stock Based Compensation
Shares granted				5,361
Period over which unrecognized expense related to all stock based compensation will be recognized				12 months

Segment Data and Foreign Operat

Segment Data and Foreign Operations (Details) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015USD ($)	May. 31, 2014USD ($)	May. 31, 2015USD ($)item	May. 31, 2014USD ($)	Aug. 31, 2014USD ($)
Segment data
Number of operating segments | item			2
Revenue	$ 64,898	$ 57,598	$ 173,135	$ 162,972
Income before income taxes	11,863	9,725	28,888	30,189
Total assets	248,100		248,100		$ 245,545
Interest	266	278	810	866
Depreciation			4,238	4,278
Amortization			4,940	3,584
Cost of sale of inventory step-up			65
Business Combination, Acquisition Related Costs			584
Gain on sale				5,706
Henkel Corporation ( Seller)
Segment data
Cost of sale of inventory step-up	16		65
Henkel Corporation ( Seller) | Selling, General and Administrative Expenses
Segment data
Business Combination, Acquisition Related Costs			584
Insulfab product line
Segment data
Gain on sale				5,706
Industrial Materials
Segment data
Revenue	47,288	42,678	130,013	124,268
Income before income taxes	13,129	11,048	35,957	37,792
Total assets	151,964		151,964		127,820
Interest	235	225	690	709
Depreciation	959	990	2,912	2,971
Amortization	1,647	771	3,700	2,291
Industrial Materials | Selling, General and Administrative Expenses
Segment data
Income before income taxes		2,113		7,542
Construction Materials
Segment data
Revenue	17,610	14,920	43,122	38,704
Income before income taxes	5,586	4,109	12,051	8,061
Total assets	48,639		48,639		50,972
Interest	31	53	120	157
Depreciation	326	289	895	866
Amortization	409	427	1,240	1,293
Construction Materials | Selling, General and Administrative Expenses
Segment data
Income before income taxes		1,326		2,820
Reportable segments
Segment data
Income before income taxes	18,715	15,157	48,008	45,853
Total assets	200,603		200,603		178,792
Corporate and common costs
Segment data
Income before income taxes	(6,852)	$ (5,432)	(19,120)	$ (15,664)
Total assets	$ 47,497		$ 47,497		$ 66,753

Segment Data & Foreign Operat37

Segment Data & Foreign Operations (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014	Aug. 31, 2014
Concentration risk
Long-lived assets	$ 42,627		$ 42,627		$ 44,085
United Kingdom
Concentration risk
Goodwill and intangible assets	$ 9,504		$ 9,504		9,924
Revenue | Geographic concentration risk | United Kingdom
Concentration risk
Percentage of concentration risk	15.00%	11.00%	13.00%	10.00%
Long-lived assets | Geographic concentration risk | United Kingdom
Concentration risk
Long-lived assets	$ 3,870		$ 3,870		$ 4,349

Goodwill and Other Intangible38

Goodwill and Other Intangibles (Details) - 9 months ended May. 31, 2015 $ in Thousands	USD ($)item
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 38,280
Acquisition of speciality chemical product lines	6,371
Foreign currency translation adjustment	(570)
Balance at the end of the period	$ 44,081
Number of operating segments | item	2
Construction Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 10,752
Foreign currency translation adjustment	(20)
Balance at the end of the period	10,732
Industrial Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period	27,528
Acquisition of speciality chemical product lines	6,371
Foreign currency translation adjustment	(550)
Balance at the end of the period	$ 33,349

Goodwill and Other Intangible39

Goodwill and Other Intangibles (Details 2) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	May. 31, 2015	May. 31, 2014	Aug. 31, 2014
Intangible assets
Gross Carrying Value	$ 74,029		$ 50,156
Accumulated Amortization	27,063		22,941
Net Carrying Value	46,966		$ 27,215
Aggregate amortization expense	4,940	$ 3,584
Estimated amortization expense
2015 (remaining 3 months)	1,957
2,016	7,840
2,017	7,403
2,018	7,172
2,019	6,473
2,020	$ 5,605
Patents and agreements
Intangible assets
Weighted-Average Amortization Period	12 years 1 month 6 days		11 years 10 months 24 days
Gross Carrying Value	$ 2,956		$ 3,104
Accumulated Amortization	2,315		2,281
Net Carrying Value	$ 641		$ 823
Formulas and technology
Intangible assets
Weighted-Average Amortization Period	8 years 4 months 24 days		9 years 1 month 6 days
Gross Carrying Value	$ 8,446		$ 5,849
Accumulated Amortization	3,312		2,851
Net Carrying Value	$ 5,134		$ 2,998
Trade names
Intangible assets
Weighted-Average Amortization Period	5 years 10 months 24 days		5 years 8 months 12 days
Gross Carrying Value	$ 7,235		$ 6,406
Accumulated Amortization	3,859		3,153
Net Carrying Value	$ 3,376		$ 3,253
Customer lists and relationships
Intangible assets
Weighted-Average Amortization Period	9 years 3 months 18 days		10 years 2 months 12 days
Gross Carrying Value	$ 55,392		$ 34,797
Accumulated Amortization	17,577		14,656
Net Carrying Value	$ 37,815		$ 20,141

Sale of Insulfab Product Line (

Sale of Insulfab Product Line (Details) - USD ($) $ in Thousands	Oct. 07, 2013	Nov. 30, 2013	May. 31, 2015	May. 31, 2014	Aug. 31, 2014
Sale of Insulfab product line
Proceeds from the sale of property and assets			$ 739	$ 9,179
Insulfab product line
Sale of Insulfab product line
Proceeds from the sale of property and assets	$ 7,394
Increase in sale proceeds resulting from post-closing adjustments		$ 2,516
Pre-tax book gain from the sale of property and assets		5,706
After-tax book gain from the sale of property and assets		$ 3,709
Sale price held in escrow			$ 739		$ 739
Term of Escrow Deposit			18 months

Joint Venture (Details)

Joint Venture (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended	9 Months Ended
	Oct. 31, 2014	May. 31, 2014	May. 31, 2015	May. 31, 2014
Joint Venture
Net (gain) loss attributable to non-controlling interest		$ (3)	$ 95	$ 4
JV | Joint venture partner
Joint Venture
Purchases made	$ 332	$ 383		$ 1,150
NEPTCO
Joint Venture
Net (gain) loss attributable to non-controlling interest	$ (95)
NEPTCO | Joint venture partner
Joint Venture
Ownership interest (as a percent)	50.00%
NEPTCO | Joint venture partner | Minimum
Joint Venture
Percentage of total glass fiber requirements agreed to be purchased			80.00%
NEPTCO | JV | Joint venture partner
Joint Venture
Membership interest purchased	50.00%

Pensions and Other Post-Retirem

Pensions and Other Post-Retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Components of net periodic benefit cost
Service cost	$ 91	$ 81	$ 272	$ 242
Interest cost	170	161	509	482
Expected return on plan assets	(153)	(178)	(459)	(533)
Amortization of prior service cost	1	1	3	3
Amortization of unrecognized loss	167	73	502	220
Settlement loss	177		177
Net periodic benefit cost	$ 453	$ 138	1,004	414
Employer contribution			$ 214	$ 200

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring basis - USD ($) $ in Thousands	May. 31, 2015	Aug. 31, 2014
Total
Fair value measurements
Restricted investments	$ 1,449	$ 1,256
Long-term debt	53,550	58,800
Quoted prices in active markets (Level 1)
Fair value measurements
Restricted investments	1,413	1,216
Significant other observable inputs (Level 2)
Fair value measurements
Restricted investments	36	40
Long-term debt	$ 53,550	$ 58,800

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Accumulated other comprehensive income
Balance at the beginning of the period			$ (4,250)
Other comprehensive gains (losses) before reclassifications			(3,129)
Reclassifications to net income of previously deferred (gains) losses			392
Total other comprehensive (loss) income	$ (39)	$ 151	(2,737)	$ 2,503
Balance at the ending of the period	(6,987)		(6,987)
Restricted investments, other comprehensive gains (losses) before reclassifications, tax benefit			29
Change in funded status of pension plan, other comprehensive gains (losses) before reclassifications, tax benefit			0
Foreign currency translation adjustment, other comprehensive gains (losses) before reclassifications, tax benefit			0
Restricted investments, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			28
Change in funded status of pension plan, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			239
Foreign currency translation adjustment, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			0
Restricted investments
Accumulated other comprehensive income
Balance at the beginning of the period			209
Other comprehensive gains (losses) before reclassifications			54
Reclassifications to net income of previously deferred (gains) losses			(51)
Total other comprehensive (loss) income			3
Balance at the ending of the period	212		212
Change in funded status of pension plan
Accumulated other comprehensive income
Balance at the beginning of the period			(4,785)
Reclassifications to net income of previously deferred (gains) losses			443
Total other comprehensive (loss) income			443
Balance at the ending of the period	(4,342)		(4,342)
Foreign currency translation adjustment
Accumulated other comprehensive income
Balance at the beginning of the period			326
Other comprehensive gains (losses) before reclassifications			(3,183)
Total other comprehensive (loss) income			(3,183)
Balance at the ending of the period	$ (2,857)		$ (2,857)

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Accumulated other comprehensive income
Cost of products and services sold	$ 40,144	$ 37,067	$ 108,859	$ 106,496
Selling, general and administrative expenses	12,125	10,518	34,844	30,887
Tax expense (benefit)	4,697	3,404	10,656	10,566
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	7,166	6,321	18,232	19,623
Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	222	35	392	107
Restricted investments | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	(3)	(20)	(79)	(57)
Tax expense (benefit)	1	7	28	20
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2	13	51	37
Change in funded status of pension plan | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Cost of products and services sold	5	20	16	60
Selling, general and administrative expenses	163	54	489	162
Tax expense (benefit)	(121)	(26)	(239)	(78)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(224)	$ (48)	(443)	$ (144)
Pension Settlement | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	$ 177		$ 177

Acquisition of Specialty Chem46

Acquisition of Specialty Chemical Intermediates Product Lines (Details) $ in Thousands	Jan. 30, 2015USD ($)item	May. 31, 2015USD ($)	Aug. 31, 2014USD ($)
Acquisitions
Acquisition related costs		$ 584
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Goodwill		44,081	$ 38,280
Intangible assets		25,240
Henkel Corporation ( Seller)
Acquisitions
Number of product lines acquired | item	2
Purchase price	$ 33,285
Lease term	10 years
Period to perform certain manufacturing and application services	3 years
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Inventory	$ 610
Property, plant & equipment	1,064
Goodwill	6,371
Intangible assets	25,240
Total purchase price	$ 33,285
Henkel Corporation ( Seller) | Selling, General and Administrative Expenses
Acquisitions
Acquisition related costs		$ 584

Acquisition of Specialty Chem47

Acquisition of Specialty Chemical Intermediates Product Lines (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 25,240		$ 25,240
Pro Forma Information
Revenue since acquisition date			7,236
Net gain since acquisition date			204
Acquisition related costs			584
Inventory step-up costs			$ 65
Statutory tax rate (as a percent)			35.00%
Net income	7,166	$ 6,321	$ 18,232	$ 19,623
Customer Relationships
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	21,300		$ 21,300
Useful life			8 years
Technology
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	2,700		$ 2,700
Useful life			7 years
Trade names
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	910		$ 910
Useful life			7 years
Backlog
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 330		$ 330
Useful life			2 months
Pro Forma
Pro Forma Information
Revenue		63,553	$ 181,664	178,482
Net income		7,035	19,655	20,439
Net income attributable to Chase Corporation		$ 7,038	$ 19,560	$ 20,436
Net income available to common shareholders, per common and common equivalent share
Basic earnings per share (in dollars per share)		$ 0.78	$ 2.13	$ 2.25
Diluted earning per share (in dollars per share)		$ 0.76	$ 2.10	$ 2.20