Chase (CCF) 10-Q 11 Jan 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Nov. 30, 2015	Dec. 31, 2015
Document and Entity Information
Entity Registrant Name	CHASE CORP
Entity Central Index Key	830,524
Document Type	10-Q
Document Period End Date	Nov. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,230,593
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 30, 2015	Aug. 31, 2015
Current Assets:
Cash & cash equivalents	$ 51,454	$ 43,819
Accounts receivable, less allowance for doubtful accounts of $759 and $705	34,151	39,488
Inventories	29,332	29,476
Prepaid expenses and other current assets	2,446	2,174
Due from sale of business	457
Assets held for sale		1,089
Deferred income taxes	2,255	2,255
Total current assets	120,095	118,301
Property, plant and equipment, net	39,348	40,921
Other Assets:
Goodwill	43,967	44,123
Intangible assets, less accumulated amortization of $30,537 and $28,882	42,847	44,852
Cash surrender value of life insurance	7,123	7,133
Restricted investments	1,508	1,410
Funded pension plan	671	634
Deferred income taxes	395	390
Other assets	350	133
Total assets	256,304	257,897
Current Liabilities:
Current portion of long-term debt	8,400	8,400
Accounts payable	13,439	15,599
Accrued payroll and other compensation	2,745	6,286
Accrued expenses	3,996	4,448
Dividend payable	5,991
Accrued income taxes	2,314	2,783
Total current liabilities	36,885	37,516
Long-term debt, less current portion	41,300	43,400
Deferred compensation	2,303	2,230
Accumulated pension obligation	12,984	12,901
Other liabilities	79	85
Accrued income taxes	1,249	1,249
Deferred income taxes	$ 6,188	$ 6,174
Commitments and Contingencies (Note 10)
Equity:
Common stock, $0.10 par value: Authorized 20,000,000 shares; 9,228,383 shares at November 30, 2015 and 9,191,958 shares at August 31, 2015 issued and outstanding	$ 923	$ 919
Additional paid-in capital	14,701	14,296
Accumulated other comprehensive loss	(8,879)	(7,986)
Retained earnings	148,571	147,113
Total equity	155,316	154,342
Total liabilities and equity	$ 256,304	$ 257,897

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2015	Aug. 31, 2015
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 759	$ 705
Intangible assets, accumulated amortization (in dollars)	$ 30,537	$ 28,882
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	9,228,383	9,191,958
Common stock, shares outstanding	9,228,383	9,191,958

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Revenue
Sales	$ 56,746	$ 55,290
Royalties and commissions	732	643
Total revenues	57,478	55,933
Costs and Expenses
Cost of products and services sold	34,717	34,480
Selling, general and administrative expenses	11,510	10,795
Write-down of certain assets under construction (Note 8)	365
Operating income	10,886	10,658
Interest expense	(250)	(274)
Gain on sale of business (Note 8)	1,031
Other (expense) income	(31)	385
Income before income taxes	11,636	10,769
Income taxes	4,187	3,769
Net income	7,449	7,000
Add: net gain attributable to non-controlling interest		(95)
Net income attributable to Chase Corporation	$ 7,449	$ 6,905
Net income available to common shareholders, per common and common equivalent share
Basic (in dollars per share)	$ 0.81	$ 0.76
Diluted (in dollars per share)	$ 0.80	$ 0.74
Weighted average shares outstanding
Basic (in shares)	9,141,620	9,050,048
Diluted (in shares)	9,282,670	9,221,796
Annual cash dividends declared per share	$ 0.65	$ 0.60

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 7,449	$ 7,000
Other comprehensive income:
Net unrealized gain on restricted investments, net of tax	28	13
Change in funded status of pension plans, net of tax	94	110
Foreign currency translation adjustment	(1,015)	(2,092)
Total other comprehensive income (loss)	(893)	(1,969)
Comprehensive income	6,556	5,031
Comprehensive gain attributable to non-controlling interest		(95)
Comprehensive income attributable to Chase Corporation	$ 6,556	$ 4,936

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - 3 months ended Nov. 30, 2015 - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (loss)	Retained Earnings	Total
Balance at Aug. 31, 2015					$ 154,342
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 3	$ (3)
Restricted stock grants, net of forfeitures (in shares)	25,330
Amortization of restricted stock grants		248			248
Amortization of stock option grants		70			70
Exercise of stock options	$ 1	190			191
Exercise of stock options (in shares)	13,398
Common stock received for payment of stock option exercises	$ 0	(100)			(100)
Common stock received for payment of stock option exercises (in shares)	(2,303)
Cash dividend accrued, $0.65 per share				$ (5,991)	(5,991)
Increase in Minimum Pension Liability, net of tax $52			$ 94		94
Foreign currency translation adjustment			(1,015)		(1,015)
Net unrealized gain on restricted investments, net of tax $16			28		28
Net income				7,449	7,449
Balance at Nov. 30, 2015	$ 923	$ 14,701	$ (8,879)	$ 148,571	$ 155,316
Balance (in shares) at Nov. 30, 2015	9,228,383

CONSOLIDATED STATEMENTS OF EQU7

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) $ in Thousands	3 Months Ended
	Nov. 30, 2015USD ($)$ / shares
CONSOLIDATED STATEMENT OF EQUITY
Annual cash dividends declared per share | $ / shares	$ 0.65
Increase in Minimum pension liability, tax	$ 52
Net unrealized gain on restricted investments, tax	$ 16

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended
	Nov. 30, 2015USD ($)	Nov. 30, 2014USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 7,449	$ 7,000
Adjustments to reconcile net income to net cash provided by operating activities
Write-down of certain assets under construction	365
Gain on sale of business	(1,031)
Depreciation	1,473	1,417
Amortization	1,916	1,183
Provision for allowance for doubtful accounts	61	68
Stock based compensation	318	296
Realized gain on restricted investments	(2)	(1)
Decrease in cash surrender value life insurance	45	45
Excess tax expense from stock based compensation		(304)
Increase (decrease) from changes in assets and liabilities
Accounts receivable	5,008	507
Inventories	36	(1,366)
Prepaid expenses & other assets	(279)	(307)
Accounts payable	(2,113)	(1,074)
Accrued compensation and other expenses	(3,793)	(3,527)
Accrued income taxes	(445)	(28)
Deferred compensation	73	24
Net cash provided by operating activities	9,081	3,933
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(418)	(592)
Cost to acquire intangible assets		(3)
Net proceeds from sale of business	1,500
Increase in restricted investments	(53)	(23)
Payments for cash surrender value life insurance	(46)	(46)
Net cash provided by (used in) investing activities	983	(664)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments of principal on debt	(2,100)	(1,750)
Proceeds from exercise of common stock options	91
Payments of statutory minimum taxes on stock options and restricted stock		(576)
Excess tax benefit from stock based compensation		304
Payment for acquisition of non-controlling interest		(500)
Net cash used in financing activities	(2,009)	(2,522)
INCREASE IN CASH & CASH EQUIVALENTS	8,055	747
Effect of foreign exchange rates on cash	(420)	(838)
CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD	43,819	53,222
CASH & CASH EQUIVALENTS, END OF PERIOD	51,454	53,131
Non-cash Investing and Financing Activities
Common stock received for payment of stock option exercises	100	1,075
Property, plant & equipment additions included in accounts payable	12	16
Annual cash dividend declared	$ 5,991	$ 5,477

Basis of Presentation

Basis of Presentation	3 Months Ended
	Nov. 30, 2015
Basis of Presentation
Basis of Presentation	Note 1 - Basis of Presentatio n 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, 2015 in conjunction with its 2015 Annual Report on Form 10-K. The results of operations for the interim period ended November 30, 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, 2015, which are contained in the Company’s 2015 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 presentaion of the Company’s financial position as of November 30, 2015, the results of its operations, comprehensive income and cash flows for the interim periods ended November 30, 2015 and 2014, and changes in equity for the interim period ended November 30, 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. The functional currency for all our other operations is the US dollar. 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”) 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 our specialty chemical intermediates product line. 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 following the acquisition. The purchase was funded entirely with available cash on hand. Since the effective date for this acquisition, the financial results of the specialty chemical intermediates product line 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 (third quarter of fiscal 2015) with no material adjustments made to the initial amounts recorded at the end of the second quarter of fiscal 2015. Please see Note 14 to the Consolidated Financial Statements for additional information on the acquisition of the specialty chemical intermediates product line. 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 attributable to non-controlling interest for the quarter ended November 30, 2014, 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	3 Months Ended
	Nov. 30, 2015
Recent Accounting Policies
Summary of Significant 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, 2018 (fiscal 2019), including interim periods in its fiscal year 2019, 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 July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory.” Under this accounting guidance, inventory will be measured at the lower of cost and net realizable value and other options that currently exist for market value will be eliminated. ASU No. 2015-11 defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. No other changes were made to the current guidance on inventory measurement. This accounting guidance is effective for us in the first quarter of fiscal 2018. Early adoption is permitted. We are currently evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes – Balance Sheet Classification of Deferred Taxes.” The purpose of the standard is to simplify the presentation of deferred taxes on a classified balance sheet. Under current GAAP, deferred income tax assets and liabilities are separated into current and noncurrent amounts in the balance sheet. The amendments in ASU 2015-17 require that all deferred tax assets and liabilities be classified as noncurrent in the balance sheet. The ASU will be effective for the Company beginning September 1, 2017 (fiscal 2018), including interim periods in its fiscal year 2018, but with early adoption permitted. The Company does not expect the adoption of ASU 2015-17 to have a material impact on its financial statements or presentation.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2015
Inventories
Inventories	Note 3 — Inventories Inventories consist of the following as of November 30, 2015 and August 31, 2015: November 30, 2015 August 31, 2015 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share

Net Income Per Share	3 Months Ended
	Nov. 30, 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 non-forfeitable 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 November 30, 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 months ended November 30, 2015, stock options to purchase 31,485 shares of common stock were outstanding, but were not included in the calculation of diluted income per share because their inclusion would be anti-dilutive. For the three months ended November 30, 2014, stock options to purchase 32,974 shares of common stock were outstanding, 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 is the unvested portion of restricted stock and stock options.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Nov. 30, 2015
Stock Based Compensation
Stock Based Compensation	Note 5 — Stock Based Compensation 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 a performance and service-based restricted stock grant of 6,993 shares in the aggregate, subject to adjustment, with a vesting date of August 31, 2017. Based on the fiscal year 2015 financial results, 5,685 additional shares of restricted stock (total of 12,678 shares) were earned and granted subsequent to the end of fiscal year 2015 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 2015, the Board of Directors of the Company approved the fiscal year 2016 Long Term Incentive Plan (“2016 LTIP”) for the executive officers and other members of management. The 2016 LTIP is an equity-based plan with a grant date of September 1, 2015 and contains the following equity components: Restricted Shares — (a) a performance and service-based restricted stock grant of 6,962 shares in the aggregate, subject to adjustment based on fiscal 2016 results, with a vesting date of August 31, 2018. Compensation expense is recognized on a ratable basis over the vesting period based on quarterly probability assessments; (b) time-based restricted stock grant of 7,683 shares in the aggregate, with a vesting date of August 31, 2018. Compensation expense is recognized on a ratable basis over the vesting period. Stock options — options to purchase 21,275 shares of common stock in the aggregate with an exercise price of $39.50 per share. The options will vest in three equal annual installments beginning on August 31, 2016 and ending on August 31, 2018. The options granted will expire on September 1, 2025. Compensation expense is recognized over the period of the award on an annual basis consistent with the vesting terms. During the quarter ended November 30, 2015, an additional grant of 5,000 restricted shares was issued to a non-executive member of management with a vesting date of October 20, 2020. Compensation expense is recognized on a ratable basis over the vesting period.

Segment Data & Foreign Operatio

Segment Data & Foreign Operations	3 Months Ended
	Nov. 30, 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 includes 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 element 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 intermediates 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 waterproofing 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 November 30, 2015 2014 Revenue Industrial Materials $ $ Construction Materials Total $ $ Income before taxes Industrial Materials $ (a) $ Construction Materials Total for reportable segments Corporate and common costs Total $ $ Includes the following costs by segment: Industrial Materials Interest $ $ Depreciation Amortization Construction Materials Interest $ $ Depreciation Amortization (a) Includes both a $1,031 gain on sale of our RodPack ® wind energy business contained within our structural composites product line and a $365 write-down on certain assets under construction charge on certain other structural composites assets based on usage constraints following the sale, both recognized in November 2015. The Company’s products are sold worldwide. For the quarters ended November 30, 2015 and 2014, sales from its operations located in the United Kingdom accounted for 9% and 11% of total Company revenue, respectively. No other foreign geographic area accounted for more than 10% of consolidated revenue for the three month periods ended November 30, 2015 and 2014. Total assets for the Company’s reportable segments as of November 30, 2015 and August 31, 2015: November 30, August 31, 2015 2015 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and common assets Total $ $ As of November 30, 2015 and August 31, 2015, 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 $3,818 and $3,947 , respectively, located in the United Kingdom. These balances exclude goodwill and intangibles of $7,857 and $8,266 , as of November 30, 2015 and August 31, 2015, respectively, associated with its operations in the United Kingdom.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Nov. 30, 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, 2015 $ $ $ Foreign currency translation adjustment Balance at November 30, 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 has identified ten reporting units within its two operating segments that are used to evaluate the possible impairment of goodwill. Goodwill impairment exists when the carrying value 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 and certain intangible asset balances is required annually. The amount and timing of any impairment charges based on these assessments require the estimation of future cash flows and the fair market value of the related assets based on management’s best estimates 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 November 30, 2015 and August 31, 2015: Weighted-Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value November 30, 2015 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ August 31, 2015 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ Aggregate amortization expense related to intangible assets for the three months ended November 30, 2015 and 2014 was $1,916 and $1,183 , respectively. Estimated amortization expense for the remainder of fiscal year 2016 and for the next five years is as follows: Years ending August 31, 2016 (remaining 9 months) $ 2017 2018 2019 2020 2021

Sale of RodPack Business

Sale of RodPack Business	3 Months Ended
	Nov. 30, 2015
Sale of RodPack Business
Sale of RodPack Business	Note 8 — Sale of RodPack Business In November 2015, the Company sold our RodPack wind energy business, contained within our structural composites product line, to an otherwise unrelated party (“Buyer”) for proceeds of $2,186 . The Company’s structural composites product line is a part of our Industrial Materials segment. The Company is not restricted in its use of the net proceeds from the sale. At August 31, 2015, the related RodPack assets were recorded as assets held for sale on the consolidated balance sheet. The following table summarizes information about the RodPack assets sold as of November 10, 2015 (the date of the sale) and August 31, 2015: November 10, 2015 August 31, 2015 Property, plant and equipment $ $ Patents and other intangible assets Total $ $ The sale resulted in a pre-tax book gain of $1,03 1 ( $6 60 after-tax gain) which was recorded within the consolidated statement of operations as gain on sale of business in the quarter ended November 30, 2015. The Company received $1,500 of the proceeds in the quarter ended November 30, 2015 and, as per the agreement, will receive the remaining balance in three equal installments of $229 at six month intervals, with the final payment due 18 months after the date of the sale. The $457 current portion of the amount due has been recorded as a current asset (Due from sale of business) as of November 30, 2015, while the portion due in 18 months has been included in other long-term assets. The payment of these owed amounts is not subject to any further contingency or deliverable. Further, the Company will provide ongoing development support to the Buyer for which we will receive additional consideration upon the completion of services. The sale of this business prompted the Company to perform a review of other long-lived assets within the structural composites product line, as the sale (specifically the sale of the related intangible assets) resulted in a limitation of the Company’s capacity to sell certain other goods produced by the product line. This review resulted in the identification of construction in progress assets with a net book value of $365 , whi ch the Company fully wrote-down . This charge was recorded within the consolidated statement of operations as write-down of certain assets under construction during the quarter ended November 30, 2015.

Joint Venture

Joint Venture	3 Months Ended
	Nov. 30, 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”) that had been owned by its 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 it 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 attributable to non-controlling interest for the three months ended November 30, 2014, 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. The JV had an amount due to the other joint venture partner of $219 at November 30, 2014.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 30, 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 cash flows, 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	3 Months Ended
	Nov. 30, 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 months ended November 30, 2015 and 2014 are as follows: Three Months Ended November 30, 2015 2014 Components of net periodic benefit cost Service cost $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of accumulated 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 November 30, 2015, the Company has made contributions of $77 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 2016 to ensure the qualified plan continues to be adequately funded given the current market conditions. The Company made contributions of $16 in the first three months of the prior year.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 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 and Level 2 as of November 30, 2015 and August 31, 2015 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 November 30, 2015 and August 31, 2015: Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Assets: Restricted investments November 30, 2015 $ $ — Restricted investments August 31, 2015 $ $ — The following table presents the fair value of the Company’s long-term debt as of November 30, 2015 and August 31, 2015, which is recorded at its carrying value: Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Liabilities: Long-term debt November 30, 2015 $ $ — — Long-term debt August 31, 2015 $ $ — — 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	3 Months Ended
	Nov. 30, 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: Change in Funded Foreign Currency Restricted Status of Translation Investments Pension Plan Adjustment Total Balance at August 31, 2015 $ $ $ $ Other comprehensive gains (losses) before reclassifications (1) — Reclassifications to net income of previously deferred (gains) losses (2) — Other comprehensive income (loss) Balance at November 30, 2015 $ $ $ $ (1) Net of tax benefit of $ 16 , $0 , $0 , respectively. (2) Net of tax expense of $1 , tax benefit of $5 2 , $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 November 30, Location of (Gain) Loss Reclassified from Accumulated 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 — 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 Tax benefit Loss net of tax $ $ Total net loss reclassified for the period $ $

Acquisition of Specialty Chemic

Acquisition of Specialty Chemical Intermediates Product Lines	3 Months Ended
	Nov. 30, 2015
Acquisition of Specialty Chemical Intermediates Product Lines
Acquisition of Specialty Chemical Intermediates Product Lines	Note 14 — Acquisition of Specialty Chemical Intermediates Product Line On January 30, 2015, the Company acquired two product lines from Henkel Corporation (the “Seller”) 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 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 intermediates product line 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 three-month period ended February 28, 2015 to acquisition related cost s. Purchase accounting was completed in the quarter ended May 31, 2015 (third quarter of fiscal 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 $ years Technology years Trade name years Backlog 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 November 30, 2014 (first quarter of fiscal 2015) , as though the specialty chemical intermediates product line acquisition described above occurred on September 1, 2013, the first day of fiscal 2014. The actual revenue and expenses for the specialty chemical intermediates product line acquisition are included in the Company’s fiscal 2016 and 2015 consolidated results beginning on January 30, 2015. Revenue and net gain attributable to Chase Corporat ion for the specialty chemical intermediates product line since the acquisition date included in the consolidated statement of operations are $17,286 and $1,191 , 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 (the first day of fiscal 2014). Three Months Ended November 30, 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 $

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2015
Inventories
Schedule of inventories	November 30, 2015 August 31, 2015 Raw materials $ $ Work in process Finished goods Total Inventories $ $

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Nov. 30, 2015
Net Income Per Share
Schedule of determination of earnings per share under the two-class method	Three Months Ended November 30, 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 Operat25

Segment Data & Foreign Operations (Tables)	3 Months Ended
	Nov. 30, 2015
Segment Data & Foreign Operations
Summary of information about the Company's reportable segments	Three Months Ended November 30, 2015 2014 Revenue Industrial Materials $ $ Construction Materials Total $ $ Income before taxes Industrial Materials $ (a) $ Construction Materials Total for reportable segments Corporate and common costs Total $ $ Includes the following costs by segment: Industrial Materials Interest $ $ Depreciation Amortization Construction Materials Interest $ $ Depreciation Amortization Includes both a $1,031 gain on sale of our RodPack ® wind energy business contained within our structural composites product line and a $365 write-down on certain assets under construction charge on certain other structural composites assets based on usage constraints following the sale, both recognized in November 2015.
Schedule of total assets for the Company's reportable segments	November 30, August 31, 2015 2015 Total assets Industrial Materials $ $ Construction Materials Total for reportable segments Corporate and common assets Total $ $

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Nov. 30, 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, 2015 $ $ $ Foreign currency translation adjustment Balance at November 30, 2015 $ $ $
Schedule of intangible assets subject to amortization	Weighted-Average Gross Carrying Accumulated Net Carrying Amortization Period Value Amortization Value November 30, 2015 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $ August 31, 2015 Patents and agreements years $ $ $ Formulas and technology years Trade names years Customer lists and relationships years $ $ $
Schedule of estimated amortization expense related to intangible assets	Years ending August 31, 2016 (remaining 9 months) $ 2017 2018 2019 2020 2021

Sale of RodPack Business (Table

Sale of RodPack Business (Tables)	3 Months Ended
	Nov. 30, 2015
Sale of RodPack Business
Summary of information about the certain structural composites assets sold	November 10, 2015 August 31, 2015 Property, plant and equipment $ $ Patents and other intangible assets Total $ $

Pensions and Other Post Retir28

Pensions and Other Post Retirement Benefits (Tables)	3 Months Ended
	Nov. 30, 2015
Pensions and Other Post Retirement Benefits
Schedule of components of net periodic benefit cost	Three Months Ended November 30, 2015 2014 Components of net periodic benefit cost Service cost $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of accumulated loss Net periodic benefit cost $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2015
Fair Value Measurements
Schedule of financial assets that were accounted for at fair value on a recurring basis	Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Assets: Restricted investments November 30, 2015 $ $ — Restricted investments August 31, 2015 $ $ —
Schedule of fair values of the Company's long-term debt	Fair value measurement category Quoted prices Significant other Significant Fair value in active markets observable inputs unobservable inputs measurement date Total (Level 1) (Level 2) (Level 3) Liabilities: Long-term debt November 30, 2015 $ $ — — Long-term debt August 31, 2015 $ $ — —

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Nov. 30, 2015
Accumulated Other Comprehensive Income
Schedule of components of accumulated other comprehensive income (loss)	Change in Funded Foreign Currency Restricted Status of Translation Investments Pension Plan Adjustment Total Balance at August 31, 2015 $ $ $ $ Other comprehensive gains (losses) before reclassifications (1) — Reclassifications to net income of previously deferred (gains) losses (2) — Other comprehensive income (loss) Balance at November 30, 2015 $ $ $ $ (1) Net of tax benefit of $ 16 , $0 , $0 , respectively. Net of tax expense of $1 , tax benefit of $5 2 , $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 November 30, Location of (Gain) Loss Reclassified from Accumulated 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 — 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 Tax benefit Loss net of tax $ $ Total net loss reclassified for the period $ $

Acquisition of Specialty Chem31

Acquisition of Specialty Chemical Intermediates Product Lines (Tables)	3 Months Ended
	Nov. 30, 2015
Acquisition of Specialty Chemical Intermediates Product Lines
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 $
Schedule of identifiable intangible assets purchased as part of business acquisition	Intangible Asset Amount Useful life Customer relationships $ years Technology years Trade name years Backlog months Total intangible assets $
Schedule of pro forma information	Three Months Ended November 30, 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 $

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	Jan. 30, 2015USD ($)item	Nov. 30, 2014USD ($)	Oct. 31, 2014
Basis of Presentation
Net gain attributable to non-controlling interest		$ 95
NEPTCO
Basis of Presentation
Net gain 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	Nov. 30, 2015	Aug. 31, 2015	Aug. 31, 2014
Inventories
Raw materials	$ 12,867		$ 12,937
Work in process	6,494		6,539
Finished goods	9,971		10,000
Total Inventories	$ 29,332	$ 29,476	$ 29,476

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Basic Earnings per Share
Net income attributable to Chase Corporation	$ 7,449	$ 6,905
Less: Allocated to participating securities	67	52
Available to common shareholders	$ 7,382	$ 6,853
Basic weighted average shares outstanding	9,141,620	9,050,048
Net income per share - Basic (in dollars per share)	$ 0.81	$ 0.76
Diluted Earnings per Share
Net income attributable to Chase Corporation	$ 7,449	$ 6,905
Less: Allocated to participating securities	55	51
Net income available to common shareholders	$ 7,394	$ 6,854
Basic weighted average shares outstanding	9,141,620	9,050,048
Additional dilutive common stock equivalents (in shares)	141,050	171,748
Diluted weighted average shares outstanding	9,282,670	9,221,796
Net income per share - Diluted (in dollars per share)	$ 0.80	$ 0.74
Antidilutive securities
Antidilutive stock options excluded from computation of earnings per share amount (in shares)	31,485	32,974

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	Sep. 01, 2015item$ / sharesshares	Sep. 01, 2014shares	Nov. 30, 2015shares
Restricted stock | Non-executive members of management
Stock Based Compensation
Shares issued			5,000
2015 LTIP | Performance and service based restricted stock | Executive officers
Stock Based Compensation
Shares granted		5,685
Cumulative shares granted		12,678
2015 LTIP | Performance and service based restricted stock | Executive officers | August 31, 2017 vesting date
Stock Based Compensation
Shares granted		6,993
2016 LTIP | Performance and service based restricted stock | Executive officers and other members of management | August 31, 2018 vesting date
Stock Based Compensation
Shares granted	6,962
2016 LTIP | Time-based restricted stock | Executive officers and other members of management | August 31, 2018 vesting date
Stock Based Compensation
Shares granted	7,683
2016 LTIP | Stock options | Executive officers and other members of management
Stock Based Compensation
Number Options Outstanding (in shares)	21,275
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 39.50
Number of equal annual allotments in which awards will vest | item	3

Segment Data and Foreign Operat

Segment Data and Foreign Operations (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2015USD ($)segment	Nov. 30, 2015USD ($)item	Nov. 30, 2015USD ($)	Nov. 30, 2014USD ($)	Aug. 31, 2015USD ($)
Segment data
Number of operating segments	2	2
Revenue			$ 57,478	$ 55,933
Income before income taxes			11,636	10,769
Total assets	$ 256,304	$ 256,304	256,304		$ 257,897
Interest			250	274
Depreciation			1,473	1,417
Amortization			1,916	1,183
Gain on sale of business			1,031
Asset Impairment Charges			365
RodPack Business Member
Segment data
Gain on sale of business			1,031
Industrial Materials
Segment data
Revenue			43,299	42,395
Income before income taxes			12,929	12,615
Total assets	142,168	142,168	142,168		146,870
Interest			187	230
Depreciation			991	977
Amortization			1,560	770
Construction Materials
Segment data
Revenue			14,179	13,538
Income before income taxes			5,455	3,873
Total assets	43,809	43,809	43,809		48,016
Interest			63	44
Depreciation			264	289
Amortization			356	413
Reportable segments
Segment data
Income before income taxes			18,384	16,488
Total assets	185,977	185,977	185,977		194,886
Corporate and common costs
Segment data
Income before income taxes			(6,748)	$ (5,719)
Total assets	$ 70,327	$ 70,327	$ 70,327		$ 63,011

Segment Data & Foreign Operat37

Segment Data & Foreign Operations (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Aug. 31, 2015	Aug. 31, 2014
Concentration risk
Long-lived assets	$ 39,348		$ 40,921
United Kingdom
Concentration risk
Goodwill and intangible assets	$ 7,857		$ 8,266
Revenue | Geographic concentration risk | United Kingdom
Concentration risk
Percentage of concentration risk	9.00%	11.00%
Long-lived assets | Geographic concentration risk | United Kingdom
Concentration risk
Long-lived assets	$ 3,818			$ 3,947

Goodwill and Other Intangible38

Goodwill and Other Intangibles (Details) - 3 months ended Nov. 30, 2015 $ in Thousands	segment	item	USD ($)
Changes in the carrying value of goodwill
Balance at the beginning of the period			$ 44,123
Foreign currency translation adjustment			(156)
Balance at the end of the period			43,967
Number of reportable segments | segment	10
Number of operating segments	2	2
Construction Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period			10,733
Foreign currency translation adjustment			(6)
Balance at the end of the period			10,727
Industrial Materials
Changes in the carrying value of goodwill
Balance at the beginning of the period			33,390
Foreign currency translation adjustment			(150)
Balance at the end of the period			$ 33,240

Goodwill and Other Intangible39

Goodwill and Other Intangibles (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2015	Aug. 31, 2015
Goodwill and intangible assets
Gross Carrying Value	$ 73,384	$ 73,734
Accumulated Amortization	30,537	28,882
Net Carrying Value	42,847	44,852
Aggregate amortization expense	1,916	$ 1,183
Estimated amortization expense
2016 (remaining 9 months)	5,774
2,017	7,280
2,018	7,084
2,019	6,392
2,020	5,520
2,021	$ 5,257
Patents and agreements
Goodwill and intangible assets
Weighted-Average Amortization Period	12 years 6 months	12 years 6 months
Gross Carrying Value	$ 2,514	$ 2,568
Accumulated Amortization	2,265	2,267
Net Carrying Value	$ 249	$ 301
Formulas and technology
Goodwill and intangible assets
Weighted-Average Amortization Period	8 years 4 months 24 days	8 years 4 months 24 days
Gross Carrying Value	$ 8,389	$ 8,415
Accumulated Amortization	3,725	3,513
Net Carrying Value	$ 4,664	$ 4,902
Trade names
Goodwill and intangible assets
Weighted-Average Amortization Period	5 years 10 months 24 days	5 years 10 months 24 days
Gross Carrying Value	$ 7,257	$ 7,278
Accumulated Amortization	4,306	4,088
Net Carrying Value	$ 2,951	$ 3,190
Customer lists and relationships
Goodwill and intangible assets
Weighted-Average Amortization Period	9 years 3 months 18 days	9 years 3 months 18 days
Gross Carrying Value	$ 55,224	$ 55,473
Accumulated Amortization	20,241	19,014
Net Carrying Value	$ 34,983	$ 36,459

Sale of RodPack Business (Detai

Sale of RodPack Business (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2015USD ($)	Nov. 30, 2015USD ($)installment	Nov. 10, 2015USD ($)	Aug. 31, 2015USD ($)
Sale of RodPack Business
Proceeds from the sale of property and assets		$ 1,500
Due from sale of business	$ 457	457
Write-down of certain assets under construction		365
RodPack Business Member
Sale of RodPack Business
Proceeds from the sale of property and assets	$ 2,186	1,500
Property, plant and equipment			$ 846	$ 773
Patents and other intangible assets			309	316
Total			$ 1,155	$ 1,089
Pre-tax book gain from the sale of property and assets		1,031
After-tax book gain from the sale of property and assets		$ 660
Number of installments | installment		3
Remaining balance		$ 229
Period of intervals		6 months

Joint Venture (Details)

Joint Venture (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended	9 Months Ended
	Oct. 31, 2014	Nov. 30, 2014	May. 31, 2015
Joint Venture
Net gain attributable to non-controlling interest		$ 95
JV | Joint venture partner
Joint Venture
Purchases made	$ 332
Amounts due for purchases made		219
NEPTCO
Joint Venture
Net gain 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
	Nov. 30, 2015	Nov. 30, 2014
Components of net periodic benefit cost
Service cost	$ 74	$ 91
Interest cost	182	170
Expected return on plan assets	(129)	(153)
Amortization of prior service cost	1	1
Amortization of unrecognized loss	143	167
Net periodic benefit cost	271	276
Employer contribution	$ 77	$ 16

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring basis - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014
Fair value measurements
Restricted investments	$ 1,508	$ 1,410
Long-term debt	49,700	51,800
Quoted prices in active markets (Level 1)
Fair value measurements
Restricted investments	1,478	1,394
Significant other observable inputs (Level 2)
Fair value measurements
Restricted investments	30	16
Long-term debt	$ 49,700	$ 51,800

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Accumulated other comprehensive income
Balance at the beginning of the period	$ (7,986)
Other comprehensive gains (losses) before reclassifications	(986)
Reclassifications to net income of previously deferred (gains) losses	93
Total other comprehensive income (loss)	(893)	$ (1,969)
Balance at the ending of the period	(8,879)
Restricted investments, other comprehensive gains (losses) before reclassifications, tax benefit	16
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	1
Change in funded status of pension plan, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit	52
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	47
Other comprehensive gains (losses) before reclassifications	29
Reclassifications to net income of previously deferred (gains) losses	(1)
Total other comprehensive income (loss)	28
Balance at the ending of the period	75
Change in funded status of pension plan
Accumulated other comprehensive income
Balance at the beginning of the period	(5,934)
Reclassifications to net income of previously deferred (gains) losses	94
Total other comprehensive income (loss)	94
Balance at the ending of the period	(5,840)
Foreign currency translation adjustment
Accumulated other comprehensive income
Balance at the beginning of the period	(2,099)
Other comprehensive gains (losses) before reclassifications	(1,015)
Total other comprehensive income (loss)	(1,015)
Balance at the ending of the period	$ (3,114)

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Accumulated other comprehensive income
Cost of products and services sold	$ 34,717	$ 34,480
Selling, general and administrative expenses	11,510	10,795
Tax expense (benefit)	4,187	3,769
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	7,449	7,000
Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	93	109
Restricted investments | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	(2)	(1)
Tax expense (benefit)	1
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(1)	(1)
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	6	5
Selling, general and administrative expenses	139	164
Tax expense (benefit)	(51)	(59)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 94	$ 110

Acquisition of Specialty Chem46

Acquisition of Specialty Chemical Intermediates Product Lines (Details) $ in Thousands	Jan. 30, 2015USD ($)item	Nov. 30, 2015USD ($)	Aug. 31, 2015USD ($)
Acquisition cost has been allocated to the acquired tangible and identifiable intangible assets and liabilities assumed based on their fair values
Goodwill		$ 43,967	$ 44,123
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 related costs		584
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	Jan. 30, 2015	Nov. 30, 2015	Nov. 30, 2014
Pro Forma Information
Net income		$ 7,449	$ 7,000
Henkel Corporation ( Seller)
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 25,240
Pro Forma Information
Revenue since acquisition date		17,286
Net gain since acquisition date		1,191
Acquisition related costs		584
Inventory step-up costs		$ 65
Statutory tax rate (as a percent)		35.00%
Revenue			60,893
Net income			7,374
Net income attributable to Chase Corporation			$ 7,279
Net income available to common shareholders, per common and common equivalent share
Basic earnings per share (in dollars per share)			$ 0.80
Diluted earning per share (in dollars per share)			$ 0.79
Henkel Corporation ( Seller) | Customer Relationships
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 21,300
Useful life	8 years
Henkel Corporation ( Seller) | Technology
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 2,700
Useful life	7 years
Henkel Corporation ( Seller) | Trade names
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 910
Useful life	7 years
Henkel Corporation ( Seller) | Backlog
Acquisition of Specialty Chemical Intermediates Businesses
Intangible assets	$ 330
Useful life	2 months

Uncategorized Items - ccf-20151

Label	Element	Value
Accumulated Other Comprehensive Income [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ (7,986,000)
Additional Paid In Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	14,296,000
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 919,000
Shares, Outstanding	us-gaap_SharesOutstanding	9,191,958
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 147,113,000