Chase (CCF) 10-Q 7 Apr 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Feb. 28, 2022	Mar. 31, 2022
Document and Entity Information
Document Type	10-Q
Document Period End Date	Feb. 28, 2022
Entity File Number	1-9852
Entity Registrant Name	CHASE CORPORATION
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	11-1797126
Entity Address, Address Line One	375 University Avenue
Entity Address, City or Town	Westwood
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02090
City Area Code	781
Local Phone Number	332-0700
Title of 12(b) Security	Common stock, $.10 par value
Trading Symbol	CCF
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,468,888
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0000830524
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
Current Assets
Cash and cash equivalents	$ 116,044	$ 119,429
Accounts receivable, less allowances of $529 and $451	46,081	46,212
Inventory	52,996	41,217
Prepaid expenses and other current assets	4,629	2,851
Prepaid income taxes and refunds due	3,280	3,255
Total current assets	223,030	212,964
Property, plant and equipment, less accumulated depreciation of $51,796 and $50,666	24,137	24,267
Other Assets
Goodwill	97,131	97,866
Intangible assets, less accumulated amortization of $94,179 and $91,484	40,305	46,954
Cash surrender value of life insurance	4,450	4,450
Restricted investments	2,323	2,260
Deferred income taxes	4,879	5,265
Operating lease right-of-use asset	9,554	9,312
Other assets	952	821
Total assets	406,761	404,159
Current Liabilities
Accounts payable	17,331	19,575
Accrued payroll and other compensation	4,212	7,179
Income taxes payable		761
Accrued expenses	5,250	5,407
Total current liabilities	26,793	32,922
Operating lease long-term liabilities	7,493	7,202
Deferred compensation	2,329	2,267
Accumulated pension obligation	8,811	9,416
Other liabilities	2,692	2,537
Deferred income taxes	3,162	3,301
Accrued income taxes	2,207	2,190
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; 9,468,888 shares at February 28, 2022 and 9,447,905 shares at August 31, 2021 issued and outstanding	948	946
Additional paid-in capital	20,513	18,959
Accumulated other comprehensive loss	(13,209)	(11,210)
Retained earnings	345,022	335,629
Total equity	353,274	344,324
Total liabilities and equity	$ 406,761	$ 404,159

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 529	$ 451
Property, plant and equipment, accumulated depreciation (in dollars)	51,796	50,666
Intangible assets, accumulated amortization (in dollars)	$ 97,287	$ 91,484
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	9,468,888	9,447,905
Common stock, shares outstanding	9,468,888	9,447,905

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Revenue
Revenue	$ 73,953	$ 68,447	$ 148,963	$ 135,623
Costs and Expenses
Cost of products and services sold	46,911	40,915	94,192	80,520
Selling, general and administrative expenses	13,125	12,331	26,500	24,591
Research and product development costs	1,095	1,026	2,088	2,077
Operations optimization costs (Note 15)	589	98	648	98
Acquisition-related costs (Note 17)		128		128
(Gain) loss on contingent consideration (Note 17)	(200)	733	275	733
Operating income	12,433	13,216	25,260	27,476
Interest expense	(86)	(67)	(173)	(136)
Other income (expense)	20	(284)	397	(498)
Income before income taxes	12,367	12,865	25,484	26,842
Income taxes (Note 14)	3,241	3,694	6,631	6,834
Net income	$ 9,126	$ 9,171	$ 18,853	$ 20,008
Net income available to common shareholders, per common and common equivalent share (Note 4)
Basic	$ 0.96	$ 0.97	$ 1.99	$ 2.12
Diluted	$ 0.96	$ 0.97	$ 1.98	$ 2.11
Weighted average shares outstanding
Basic	9,399,231	9,381,666	9,398,552	9,378,743
Diluted	9,436,415	9,426,626	9,437,425	9,422,651
Annual cash dividends declared per share			$ 1	$ 0.80
Revenues
Revenue
Revenue	$ 73,182	$ 67,575	$ 147,374	$ 133,711
Royalties and commissions
Revenue
Revenue	$ 771	$ 872	$ 1,589	$ 1,912

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 9,126	$ 9,171	$ 18,853	$ 20,008
Other comprehensive income (loss):
Net unrealized (loss) gain on restricted investments, net of tax	(135)	48	(165)	118
Change in funded status of pension plans, net of tax	112	125	224	247
Foreign currency translation adjustment	115	1,796	(2,058)	1,887
Total other comprehensive income (loss)	92	1,969	(1,999)	2,252
Comprehensive income	$ 9,218	$ 11,140	$ 16,854	$ 22,260

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (loss)	Retained Earnings	Total
Balance at Aug. 31, 2020	$ 944	$ 16,674	$ (13,092)	$ 298,266	$ 302,792
Balance (in shares) at Aug. 31, 2020	9,439,082
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 2	(2)
Restricted stock grants, net of forfeitures (in shares)	10,693
Amortization of restricted stock grants		1,190			1,190
Amortization of stock option grants		225			225
Exercise of stock options		40			40
Exercise of stock options (in shares)	2,532
Common stock received for payment of stock option exercises		(40)			(40)
Common stock received for payment of stock option exercises (in shares)	(386)
Common stock retained to pay statutory minimum withholding taxes on common stock		(366)			(366)
Common stock retained to pay statutory minimum withholding taxes on common stock (in shares)	(3,550)
Cash dividend declared				(7,557)	(7,557)
Change in funded status of pension plans, net of tax			247		247
Foreign currency translation adjustment			1,887		1,887
Net unrealized gain (loss) on restricted investments, net of tax			118		118
Net income				20,008	20,008
Balance at Feb. 28, 2021	$ 946	17,721	(10,840)	310,717	318,544
Balance (in shares) at Feb. 28, 2021	9,448,371
Balance at Nov. 30, 2020	$ 945	17,264	(12,809)	301,546	306,946
Balance (in shares) at Nov. 30, 2020	9,446,281
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 1	(1)
Restricted stock grants, net of forfeitures (in shares)	3,314
Amortization of restricted stock grants		620			620
Amortization of stock option grants		(23)			(23)
Common stock retained to pay statutory minimum withholding taxes on common stock		(139)			(139)
Common stock retained to pay statutory minimum withholding taxes on common stock (in shares)	(1,224)
Change in funded status of pension plans, net of tax			125		125
Foreign currency translation adjustment			1,796		1,796
Net unrealized gain (loss) on restricted investments, net of tax			48		48
Net income				9,171	9,171
Balance at Feb. 28, 2021	$ 946	17,721	(10,840)	310,717	318,544
Balance (in shares) at Feb. 28, 2021	9,448,371
Balance at Aug. 31, 2021	$ 946	18,959	(11,210)	335,629	344,324
Balance (in shares) at Aug. 31, 2021	9,447,905
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 2	(2)
Restricted stock grants, net of forfeitures (in shares)	20,983
Amortization of restricted stock grants		1,108			1,108
Amortization of stock option grants		448			448
Cash dividend declared				(9,460)	(9,460)
Change in funded status of pension plans, net of tax			224		224
Foreign currency translation adjustment			(2,058)		(2,058)
Net unrealized gain (loss) on restricted investments, net of tax			(165)		(165)
Net income				18,853	18,853
Balance at Feb. 28, 2022	$ 948	20,513	(13,209)	345,022	353,274
Balance (in shares) at Feb. 28, 2022	9,468,888
Balance at Nov. 30, 2021	$ 947	19,733	(13,301)	335,896	343,275
Balance (in shares) at Nov. 30, 2021	9,459,685
Increase (Decrease) in Stockholders' Equity
Restricted stock grants, net of forfeitures	$ 1	(1)
Restricted stock grants, net of forfeitures (in shares)	9,203
Amortization of restricted stock grants		552			552
Amortization of stock option grants		229			229
Change in funded status of pension plans, net of tax			112		112
Foreign currency translation adjustment			115		115
Net unrealized gain (loss) on restricted investments, net of tax			(135)		(135)
Net income				9,126	9,126
Balance at Feb. 28, 2022	$ 948	$ 20,513	$ (13,209)	$ 345,022	$ 353,274
Balance (in shares) at Feb. 28, 2022	9,468,888

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
Cash dividends paid per share (in dollars per share)			$ 1	$ 0.80
Change in funded status of pension plans, tax	$ 37	$ 40	$ 74	$ 83
Net unrealized gain (loss) on restricted investments, tax	$ 46	$ 15	$ 57	$ 39

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 18,853	$ 20,008
Adjustments to reconcile net income to net cash provided by operating activities
Loss on contingent consideration	275
Depreciation	1,776	1,952
Amortization	6,167	6,190
Provision for allowance for doubtful accounts	80	7
Stock-based compensation	1,556	1,415
Realized gain on restricted investments	(80)	(49)
Deferred taxes	419
Increase (decrease) from changes in assets and liabilities
Accounts receivable	(197)	(4,712)
Inventory	(11,917)	3,344
Prepaid expenses and other assets	(1,953)	(913)
Accounts payable	(2,100)	1,862
Accrued compensation and other expenses	(3,371)	(1,470)
Accrued income taxes	(751)	(1,248)
Net cash provided by operating activities	8,757	26,386
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(1,769)	(1,060)
Payments for acquisitions		(31,238)
Changes in restricted investments	(205)	10
Net cash used in investing activities	(1,974)	(32,288)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividend paid	(9,460)	(7,557)
Payments of taxes on stock options and restricted stock		(366)
Net cash used in financing activities	(9,460)	(7,923)
DECREASE IN CASH & CASH EQUIVALENTS	(2,677)	(13,825)
Effect of foreign exchange rates on cash	(708)	986
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	119,429	99,068
CASH AND CASH EQUIVALENTS, END OF PERIOD	116,044	86,229
Non-cash Investing and Financing Activities
Common stock received for payment of stock option exercises		40
Property, plant and equipment additions included in accounts payable	$ 186	$ 220

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	6 Months Ended
	Feb. 28, 2022
Basis of Financial Statement Presentation
Basis of Financial Statement Presentation	Note 1 — Basis of Financial Statement Presentatio n ​ Description of Business ​ Chase Corporation (the “Company,” “Chase,” “we,” or “us”), a global specialty chemicals company founded in 1946, is a leading manufacturer of protective materials for high-reliability applications across diverse market sectors. The Company’s strategy is to maximize the performance of its core businesses and brands while seeking future opportunities through strategic acquisitions. Through investments in facilities, systems and organizational consolidation, the Company seeks to improve performance and gain economies of scale. ​ Basis of Presentation ​ The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“U.S. GAAP”) 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 disclosures necessary for a complete presentation of Chase Corporation’s financial position, results of operations and cash flows in conformity with generally accepted accounting principles. The year-end condensed balance sheet was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. Chase Corporation filed audited consolidated financial statements which included all information and notes necessary for such a complete presentation for the three years ended August 31, 2021 in conjunction with its 2021 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 period ended February 28, 2022 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, 2021 which are contained in the Company’s 2021 Annual Report on Form 10-K. ​ The accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring items) that are, in the opinion of management, necessary for a fair statement of the Company’s financial position as of February 28, 2022, and the results of its operations, comprehensive income, changes in equity and cash flows for the interim periods ended February 28, 2022 and 2021. ​ 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 U.S. dollar as the reporting currency for financial reporting. The financial position and results of operations of the Company’s U.K.-based operations are measured using the British pound as the functional currency. 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 financial position and results of the Company’s HumiSeal India Private Limited business are measured using the Indian rupee as the functional currency. The functional currency for all Chase Corporation’s other operations is the U.S. 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 each applicable operation are included in other income (expense) on the condensed consolidated statements of operations, and   ​ ​ Other Business Developments ​ The Company substantially completed the relocation of its Corporate Headquarters to another location within Westwood, MA during the second quarter of the fiscal year. The move, part of the Company’s ongoing consolidation and optimization initiative, capitalizes on the hybrid work model utilized by many of Chase’s corporate and administrative employees and is expected to provide future operational cost savings. The new facility also consolidates and houses research and development operations previously conducted at the previous Westwood, MA and Woburn, MA locations. Operations optimization costs related to the Westwood move of $141 and $200 were expensed in the second quarter and first half of the fiscal year, respectively. The Company does not anticipate any significant additional operations optimization costs related to the new Corporate Headquarters during the second half of the fiscal year. ​ During the third quarter of fiscal 2021, Chase announced to the employees at its Woburn, MA location that its adhesives systems operations, part of the Adhesives, Sealants and Additives segment’s electronic and industrial coatings product line, would be consolidating into the Company’s existing O'Hara Township, PA location. This rationalization and consolidation initiative aligns with the second quarter of fiscal 2021 announcement of the Company’s plan to move its sealant systems production from Newark, CA to Hickory, NC, described in more detail below. Chase Corporation obtained both the adhesive and sealants systems as part of its fiscal 2017 acquisition of the operations of Resin Designs. The Company expensed $301 related to the consolidation of the Woburn, MA location during the second quarter of the fiscal year and expects to recognize additional expense during the second half of the fiscal year. ​ On February 5, 2021, the Company acquired certain assets of Emerging Technologies, Inc. (“ETi”), a superabsorbent polymers solutions provider, located in Greensboro, NC. The business was acquired for a purchase price of $9,997 comprising $8,997 paid on February 5, 2021 and an accrual of $1,000 to be paid out up to eighteen months after purchase, subsequent to final working capital adjustments, and excluding acquisition-related costs. As part of this transaction, Chase acquired substantially all working capital and fixed assets of the business and entered a multi-year lease at ETi’s existing location. The Company expensed $128 of acquisition-related costs during the second quarter of fiscal 2021 associated with this acquisition. The purchase was funded with available cash on hand. ETi is a solutions provider and formulator of absorbent polymers for use in the packaging, recreational, consumer, and sanitation markets. The acquisition broadens the Company’s superabsorbent polymers product offerings and formulation capabilities while expanding its market reach. The Company finalized purchase accounting during the first quarter of fiscal 2022, with no significant change to amounts initially recorded. Since the effective date of the acquisition, the financial results of ETi’s acquired operations have been included in the Company’s financial statements within the functional additives product line, contained within the Adhesives, Sealants and Additives operating segment. ​ During the second quarter of fiscal 2021, Chase began moving the sealant systems operations, part of the Adhesives, Sealants and Additives segment’s electronic and industrial coatings product line, from its Newark, CA location to its Hickory, NC facility. This is in line with the Company’s ongoing initiative to consolidate its manufacturing plants and streamline its existing processes. The sealant systems operations and Newark, CA location came to Chase Corporation as part of the fiscal 2017 acquisition of the operations of Resin Designs, and the Company’s lease there terminated in fiscal 2021. The Company recognized $977 in expense related to the move during the entire prior fiscal year ended August 31, 2021 and $147 of expense in the second quarter and first half of fiscal 2022. This project is now substantially completed and any future costs related to this move are not anticipated to be significant to the condensed consolidated financial statements. ​ ​ On September 1, 2020 (the first day of fiscal 2021), the Company acquired all the capital stock of ABchimie for €18,654 (approximately $22,241 at the time of the transaction) net of cash acquired, subsequent to final working capital adjustment, excluding acquisition-related costs totaling $274 recognized in fiscal 2020 and with a potential earn out based on performance potentially worth an additional €7,000 (approximately $8,330 at the time of the transaction). ABchimie is a Corbelin, France headquartered solutions provider for the cleaning and protection of electronic assemblies, with ‎further formulation, production, and research and development capabilities‎. The transaction was funded with cash on hand. Since the effective date of the acquisition, the financial results of the business have been included in the Company's financial statements within the Adhesives, Sealants and Additives operating segment in the electronic and industrial coatings product line. ​ Significant Accounting Policies ​ The Company’s significant accounting policies are detailed in Note 1

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Feb. 28, 2022
Recent Accounting Standards
Recent Accounting Standards	​ Note 2 — Recent Accounting Standards ​ Recently Issued Accounting Pronouncements ​ In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance”, which requires entities to make annual disclosures about transactions with a government they account for by analogizing to a grant or contribution accounting model under ASC 958-605. The ASU is effective for the Company beginning September 1, 2022 (the start of fiscal 2023). ASU 2021-10 has not had, and the Company does not expect it to have in future periods, a material impact on the Company’s condensed consolidated financial statements and disclosures. ​ Recently Adopted Accounting Pronouncements ​ In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which amends the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination. The amendment requires that an entity acquiring the contract assets and contract liabilities in a business combination be recognized in accordance with ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The ASU is effective for all public entities for fiscal years beginning after December 15, 2022, and interim periods therein. The Company early adopted ASU 2021-08 on February 28, 2022 and any impact on the condensed consolidated financial statements will be dependent on the magnitude and nature of future acquired entities. ​

Inventory

Inventory	6 Months Ended
	Feb. 28, 2022
Inventory
Inventory	Note 3 — Inventory ​ Inventory consisted of the following as of February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ 2022 2021 Raw materials ​ ​ $ 30,957 ​ $ 24,055 Work in process ​ ​ ​ 7,825 ​ ​ 5,928 Finished goods ​ ​ ​ 14,214 ​ ​ 11,234 Total Inventory ​ ​ $ 52,996 ​ $ 41,217 ​

Net Income Per Share

Net Income Per Share	6 Months Ended
	Feb. 28, 2022
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 February 28, ​ ​ Six Months Ended February 28, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic Earnings per Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 9,126 $ 9,171 ​ $ 18,853 $ 20,008 ​ Less: Allocated to participating securities ​ ​ 61 ​ ​ 62 ​ ​ ​ 124 ​ ​ 142 ​ Net income available to common shareholders $ 9,065 $ 9,109 ​ $ 18,729 $ 19,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 9,399,231 ​ ​ 9,381,666 ​ ​ ​ 9,398,552 ​ ​ 9,378,743 ​ Net income per share - Basic $ 0.96 $ 0.97 ​ $ 1.99 $ 2.12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted Earnings per Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 9,126 $ 9,171 ​ $ 18,853 $ 20,008 ​ Less: Allocated to participating securities ​ ​ 61 ​ ​ 62 ​ ​ ​ 124 ​ ​ 142 ​ Net income available to common shareholders $ 9,065 $ 9,109 ​ $ 18,729 $ 19,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 9,399,231 ​ ​ 9,381,666 ​ ​ ​ 9,398,552 ​ ​ 9,378,743 ​ Additional dilutive common stock equivalents ​ ​ 37,184 ​ ​ 44,960 ​ ​ ​ 38,873 ​ ​ 43,908 ​ Diluted weighted average shares outstanding ​ ​ 9,436,415 ​ ​ 9,426,626 ​ ​ ​ 9,437,425 ​ ​ 9,422,651 ​ Net income per share - Diluted $ 0.96 $ 0.97 ​ $ 1.98 $ 2.11 ​ ​ Included in the calculation of dilutive common stock equivalents are the unvested portion of restricted stock and stock options. For the three- and six-month periods ended February 28, 2022, stock options to purchase

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Feb. 28, 2022
Stock-Based Compensation
Stock-Based Compensation	​ Note 5 — Stock-Based Compensation ​ In August 2020, the Board of Directors of the Company approved the fiscal year 2021 Long Term Incentive Plan (“2021 LTIP”) for the executive officers and other members of management. The 2021 LTIP is an equity-based plan with a grant date of September 1, 2020 and contains (a) a restricted stock grant of ​ Based on the fiscal year 2021 results, 2,633 additional shares of restricted stock were earned and granted subsequent to the end of fiscal year 2021 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 2021, the Board of Directors of the Company approved the fiscal year 2022 Long Term Incentive Plan (“2022 LTIP”) for executive officers and other members of management. The 2022 LTIP is an equity-based plan with a grant date of September 1, 2021 and contains the following equity components: ​ Restricted Shares 31, 2024. Compensation expense is recognized on a ratable basis over the vesting period based on quarterly probability assessments; and (b) a time-based restricted stock grant of ​ Stock Options — options to purchase 12,942 shares of common stock in the aggregate with an exercise price of $114.50 per share. The options will vest in three equal annual installments beginning on August 31, 2022 and ending on August 31, 2024. The options will expire ten years after the grant date. Compensation expense is being recognized over the period of the award consistent with the vesting terms. ​ In the first and second quarter of fiscal 2022, restricted stock in the amount of 437 and 1,129 shares, respectively, related to the second quarter of fiscal 2020 grants were forfeited in conjunction with the termination of employment of non-executive members of management of the Company. ​ In February 2022, the Board of Directors of the Company approved an equity retention agreements with the Treasurer and Chief Financial Officer. The equity-based retention agreements have a grant date of February 1, 2022 and contain the following equity components: (a) a time-based restricted stock grant of 5,332 shares with a vesting date of January 31, 2025; and (b) options to purchase 14,480 shares of common stock with an exercise price of $94.88 per share. The options will vest on January 31, 2025 and will expire on February 1, 2032. Compensation expense for both the restricted stock and the stock option components of the equity retention agreements is being recognized on a ratable basis over the vesting period. ​ In February 2022, as part of their standard compensation for board service, non-employee members of the Board received a total grant of 5,000 shares of restricted stock for service for the period from January 31, 2022 through January 31, 2023. The shares of restricted stock will vest at the conclusion of this service period. Compensation expense for restricted stock is being recognized on a ratable basis over the twelve-month vesting period. ​ ​

Segment Data and Foreign Operat

Segment Data and Foreign Operations	6 Months Ended
	Feb. 28, 2022
Segment Data and Foreign Operations
Segment Data and Foreign Operations	Note 6 — Segment Data and Foreign Operations ​ The Company is organized into three reportable operating segments: Adhesives, Sealants and Additives; Industrial Tapes; and Corrosion Protection and Waterproofing. The segments are distinguished by the nature of the products manufactured and how they are delivered to their respective markets. ​ The Adhesives, Sealants and Additives segment offers innovative and specialized product offerings consisting of both end-use products and intermediates that are used in, or integrated into, another company’s product. Demand for the segment’s product offerings is typically dependent upon general economic conditions. The Adhesives, Sealants and Additives segment leverages the core specialty chemical competencies of the Company and serves diverse markets and applications. The segment sells predominantly into the transportation, appliances, medical, general industrial and environmental market verticals. The segment’s products include moisture protective coatings and cleaners, customized sealant and adhesive systems for electronics, polymeric microspheres, polyurethane dispersions and superabsorbent polymers. Beginning September 1, 2020, the Adhesives, Sealants and Additives segment includes the acquired operations of ABchimie, within the electronic and industrial coatings product line ​ The Industrial Tapes segment features wire and cable materials, specialty tapes and other laminated and coated products. The segment derives its competitive advantage through its proven chemistries, its diverse specialty offerings and the reliability its supply chain offers to end customers. These products are generally used in the assembly of other manufacturers’ products, with demand typically dependent upon general economic conditions. The Industrial Tapes segment sells mostly to established markets, with some exposure to growth opportunities through further development of existing products. Markets served include wire and cable manufacturing, utilities and telecommunications, and electronics packaging. The segment’s offerings include insulating and conducting materials for wire and cable manufacturers, laminated durable papers, laminates for the packaging and industrial laminate markets, custom manufacturing services, pulling and detection tapes used in the installation, measurement and location of fiber optic cables and water and natural gas lines and cover tapes essential to delivering semiconductor components via tape-and-reel packaging. ​ The Corrosion Protection and Waterproofing segment is principally composed of project-oriented product offerings that are primarily sold and used as “Chase” branded products. End markets include new and existing infrastructure projects on oil, gas, water and wastewater pipelines, highways and bridge decks, water and wastewater containment systems, and commercial and industrial structures. The segment’s products include protective coatings for pipeline applications, coating and lining systems for waterproofing and liquid storage applications, adhesives and sealants used in architectural and building envelope waterproofing applications, high-performance polymeric asphalt additives, and expansion joint systems for waterproofing applications in transportation and architectural markets. With sales generally dependent on outdoor project work, the segment experiences highly seasonal sales patterns. ​ The following tables summarize information about the Company’s reportable segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 31,780 ​ ​ $ 31,575 ​ ​ $ 62,829 ​ ​ $ 61,646 ​ ​ Industrial Tapes ​ ​ 33,330 ​ ​ ​ 28,345 ​ ​ ​ 66,091 ​ ​ ​ 54,836 ​ ​ Corrosion Protection and Waterproofing ​ ​ 8,843 ​ ​ ​ 8,527 ​ ​ ​ 20,043 ​ ​ ​ 19,141 ​ ​ Total ​ $ 73,953 ​ ​ $ 68,447 ​ ​ $ 148,963 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 7,802 (a) ​ $ 10,137 (c) ​ $ 15,399 (a) ​ $ 20,116 (c) ​ Industrial Tapes ​ ​ 10,250 ​ ​ ​ 8,460 ​ ​ ​ 19,540 ​ ​ ​ 16,328 ​ ​ Corrosion Protection and Waterproofing ​ ​ 2,884 ​ ​ ​ 2,415 ​ ​ ​ 7,330 ​ ​ ​ 6,501 ​ ​ Total for reportable segments ​ ​ 20,936 ​ ​ ​ 21,012 ​ ​ ​ 42,269 ​ ​ ​ 42,945 ​ ​ Corporate and common costs ​ ​ (8,569) (b) ​ ​ (8,147) (c) ​ ​ (16,785) (b) ​ ​ (16,103) (c) ​ Total ​ $ 12,367 ​ ​ $ 12,865 ​ ​ $ 25,484 ​ ​ $ 26,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Includes the following costs by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 34 ​ ​ $ 24 ​ ​ $ 69 ​ ​ $ 54 ​ ​ Depreciation ​ ​ 220 ​ ​ ​ 247 ​ ​ ​ 463 ​ ​ ​ 489 ​ ​ Amortization ​ ​ 2,658 ​ ​ ​ 2,643 ​ ​ ​ 5,398 ​ ​ ​ 5,216 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial Tapes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 34 ​ ​ $ 15 ​ ​ $ 69 ​ ​ $ 42 ​ ​ Depreciation ​ ​ 411 ​ ​ ​ 428 ​ ​ ​ 821 ​ ​ ​ 893 ​ ​ Amortization ​ ​ 383 ​ ​ ​ 387 ​ ​ ​ 767 ​ ​ ​ 773 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corrosion Protection and Waterproofing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 18 ​ ​ $ 28 ​ ​ $ 35 ​ ​ $ 40 ​ ​ Depreciation ​ ​ 129 ​ ​ ​ 136 ​ ​ ​ 247 ​ ​ ​ 275 ​ ​ Amortization ​ ​ 1 ​ ​ ​ 89 ​ ​ ​ 2 ​ ​ ​ 201 ​ ​ ​ (a) Includes a $200 gain in the second quarter and a $275 year-to-date loss on the adjustment of the performance-based earn-out contingent consideration associated with the September 2020 acquisition of ABchimie and $301 in operation optimization costs related to the move from Woburn, MA to O’Hara Township, PA and $147 of operations optimization costs related to the move from Newark, CA to Hickory, NC (b) Includes $141 of operations optimization costs in the second quarter and $200 year-to-date related to the Company’s move to the new Corporate Headquarters within Westwood, MA substantially completed in the second quarter of the fiscal year (c) Includes $733 in loss on the upward adjustment of the performance-based earn out contingent consideration associated with the September 2020 acquisition of ABchimie and $98 operations optimization in exit costs related to the movement of the sealants system business out of the Newark, CA location and into the Hickory, NC location during the second quarter of fiscal 2021. Also includes $128 in acquisition-related expense attributable to the February 2021 acquisition of the operations of ETi ​ Total assets for the Company’s reportable segments as of February 28, 2022 and August 31, 2021 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ 2022 2021 Total Assets ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 159,326 ​ $ 161,968 ​ ​ Industrial Tapes ​ ​ 76,773 ​ ​ 72,301 ​ ​ Corrosion Protection and Waterproofing ​ ​ 30,775 ​ ​ 31,067 ​ ​ Total for reportable segments ​ ​ 266,874 ​ ​ 265,336 ​ ​ Corporate and common assets ​ ​ 139,887 ​ ​ 138,823 ​ ​ Total ​ $ 406,761 ​ $ 404,159 ​ ​ ​ The Company’s products are sold worldwide. Revenue for the three- and six-month periods ended February 28, 2022 and 2021 was attributed to operations located in the following countries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 62,816 ​ ​ $ 55,629 ​ ​ $ 127,869 ​ ​ $ 111,371 ​ ​ United Kingdom ​ ​ 5,927 ​ ​ ​ 6,997 ​ ​ ​ 10,521 ​ ​ ​ 13,024 ​ ​ All other foreign (1) ​ ​ 5,210 ​ ​ ​ 5,821 ​ ​ ​ 10,573 ​ ​ ​ 11,228 ​ ​ Total ​ $ 73,953 ​ ​ $ 68,447 ​ ​ $ 148,963 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Comprises sales orders originated from the Company’s French locations, royalty revenue attributable to its licensed manufacturer in Asia, and Chase foreign manufacturing operations. ​ ​ As of February 28, 2022 and August 31, 2021 the Company had long-lived assets (defined as tangible assets providing the Company with a future economic benefit beyond the current year or operating period, including buildings, equipment and leasehold improvements) and goodwill and intangible assets, less accumulated amortization, in the following countries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ ​ 2022 2021 ​ ​ Long-Lived Assets ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ $ 21,046 ​ $ 20,990 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 110,305 ​ ​ 115,936 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United Kingdom ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ 2,023 ​ ​ 2,174 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 3,807 ​ ​ 3,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ All other foreign ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ 1,068 ​ ​ 1,103 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 23,324 ​ ​ 24,979 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ $ 24,137 ​ $ 24,267 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ $ 137,436 ​ $ 144,820 ​ ​ ​

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Feb. 28, 2022
Goodwill and Other Intangibles
Goodwill and Other Intangibles	Note 7 — Goodwill and Other Intangibles ​ The changes in the carrying value of goodwill were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives Industrial Tapes Corrosion Protection and Waterproofing Consolidated Balance at August 31, 2021 ​ $ 65,945 ​ $ 21,215 ​ $ 10,706 ​ $ 97,866 ​ Foreign currency translation adjustment ​ ​ (729) ​ ​ — ​ ​ (6) ​ ​ (735) ​ Balance at February 28, 2022 ​ $ 65,216 ​ $ 21,215 ​ $ 10,700 ​ $ 97,131 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 a total of three reporting units, corresponding to its three operating segments, that are used to evaluate the possible impairment of goodwill. 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, including the anticipated future impact of the ​ The Company has adopted ASU No. 2017-04 “Intangibles - Goodwill and Other Topics (Topic 350): Simplifying the Test for Goodwill Impairment.” The Company assesses goodwill for impairment by comparing the fair value of the reporting unit to its carrying amount. If the fair value of a reporting unit is less than its carrying value, an impairment loss, limited to the amount of goodwill allocated to that reporting unit, is recorded. ​ Intangible assets subject to amortization consisted of the following as of February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ ​ Amortization Period Value Amortization Value February 28, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents and agreements ​ 14.6 years $ 1,760 ​ $ 1,720 ​ $ 40 ​ Formulas and technology ​ 7.8 years ​ 10,930 ​ ​ 10,000 ​ ​ 930 ​ Trade names ​ 5.9 years ​ 8,804 ​ ​ 8,451 ​ ​ 353 ​ Customer lists and relationships ​ 9.1 years ​ 116,098 ​ ​ 77,116 ​ ​ 38,982 ​ ​ ​ ​ ​ $ 137,592 ​ $ 97,287 ​ $ 40,305 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents and agreements ​ 14.6 years $ 1,760 ​ $ 1,715 ​ $ 45 ​ Formulas and technology ​ 7.9 years ​ 10,987 ​ ​ 9,769 ​ ​ 1,218 ​ Trade names ​ 5.9 years ​ 8,836 ​ ​ 8,285 ​ ​ 551 ​ Customer lists and relationships ​ 9.2 years ​ 116,855 ​ ​ 71,715 ​ ​ 45,140 ​ ​ ​ ​ ​ $ 138,438 ​ $ 91,484 ​ $ 46,954 ​ ​ Aggregate amortization expense related to intangible assets for the six months ended February 28, 2022 and 2021 was $6,167 and $6,190 respectively. Estimated amortization expense for the remainder of fiscal year 2022 and for the next five years is as follows: ​ ​ ​ ​ ​ ​ Years ending August 31, ​ ​ ​ 2022 (remaining 6 months) ​ $ 5,617 2023 ​ ​ 8,660 ​ 2024 ​ ​ 7,453 ​ 2025 ​ ​ 5,853 ​ 2026 ​ ​ 5,055 ​ 2027 ​ ​ 2,508 ​ ​

Leases

Leases	6 Months Ended
	Feb. 28, 2022
Leases
Leases	Note 8 — Leases ​ The Company accounts for leases in accordance to ASU 2016-02, “Leases (Topic 842).” At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the balance sheet as right-of-use (ROU) assets and short-term and long-term lease liabilities, as applicable. The Company does not have any financing leases that are material in nature. ​ Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company believes it could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. ​ The Company has elected not to recognize leases with an original term of one year or less on the balance sheet. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew. ​ The following table presents the right-of-use asset and short-term and long-term lease liabilities amounts recorded on the condensed consolidated balance sheet as of February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ 2022 ​ 2021 Assets ​ ​ ​ ​ Operating lease right-of-use asset ​ $ 9,554 ​ $ 9,312 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current (accrued expenses) ​ $ 1,484 ​ $ 1,515 Operating lease long-term liabilities ​ ​ 7,493 ​ ​ 7,202 Total lease liability ​ $ 8,977 ​ $ 8,717 ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease cost The components of lease costs for the three and six months ended February 28, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost (a) ​ $ 833 ​ $ 971 ​ ​ $ 1,661 ​ $ 1,922 ​ (a) Includes short-term leases and variable lease costs (e.g. common area maintenance), which are immaterial. ​ Maturity of lease liability The maturity of the Company's lease liabilities at February 28, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ Future Operating Year ending August 31, Lease Payments 2022 (remaining 6 months) ​ ​ 868 2023 ​ ​ 1,697 2024 ​ ​ 1,622 2025 ​ ​ 1,464 2026 ​ ​ 1,189 2027 and thereafter ​ ​ 3,009 Less: Interest ​ ​ (872) Present value of lease liabilities ​ $ 8,977 ​ ​ The weighted average remaining lease term and discount rates are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ 2022 ​ 2021 ​ Lease Term and Discount Rate ​ ​ ​ ​ ​ Weighted average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.8 ​ ​ 6.8 ​ Weighted average discount rate (percentage) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 2.8 % ​ 3.1 % ​ Other Information Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ Operating cash outflows from operating leases ​ $ 881 ​ $ 1,328 Total cash paid for amounts included in the measurement of lease liabilities ​ $ 881 ​ $ 1,328 ​

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Feb. 28, 2022
Revenue from Contracts with Customers
Revenue from Contracts with Customers	Note 9 — Revenue from Contracts with Customers ​ The Company accounts for revenue in accordance with ASC 606, “Revenue from Contracts with Customers.” The Company’s revenue is generated from the manufacture of specialty chemical products including coatings, linings, adhesives, sealants, specialty tapes, polymers and laminates. Certain of these manufactured products can incorporate customer-owned materials. The Company also recognizes, to a lesser extent, revenue through royalties and commissions from licensed manufacturers and from providing custom manufacturing-related services. The Company’s revenue recognition policies require the Company to make significant judgments and estimates. In applying the Company’s revenue recognition policy, determinations must be made as to when control of products passes to the Company’s customers, which can be either at a point in time or over time based on contractual terms with customers. Revenue is generally recognized at a point in time when control passes upon either shipment to or receipt by the customer of the Company’s products, while revenue is generally recognized over time when control of the Company’s products transfers to customers during the manufacturing process. ​ Contract Balances ​ The Company’s contract assets primarily relate to unbilled revenue for products currently in production at the Company’s facilities and which incorporate customer-owned material. Revenue is recognized in advance of billing to the customer in these specific circumstances, whereas billing is typically performed at the time of shipment to or receipt by the customer. ​ Contract assets are included in prepaid expenses and other current assets on the Company’s condensed consolidated balance sheet. The following table presents contract assets by reportable operating segment as of February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ 2022 2021 Contract Assets ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 36 ​ $ 21 Industrial Tapes ​ ​ 25 ​ ​ 82 Corrosion Protection and Waterproofing ​ ​ 27 ​ ​ 25 Total ​ $ 88 ​ $ 128 ​ The Company did not have any contract liabilities as of February 28, 2022 and August 31, 2021. ​ ​ Disaggregated Revenue ​ The Company disaggregates geographical region for the three and six months ended February 28, 2022 and 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, 2022 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 18,882 ​ $ 29,643 ​ ​ $ 7,827 ​ ​ $ 56,352 Asia\Middle East ​ ​ 7,179 ​ ​ 1,781 ​ ​ ​ 494 ​ ​ ​ 9,454 Europe ​ ​ 5,575 ​ ​ 1,449 ​ ​ ​ 450 ​ ​ ​ 7,474 All other foreign ​ ​ 144 ​ ​ 457 ​ ​ ​ 72 ​ ​ ​ 673 Total Revenue ​ $ 31,780 ​ $ 33,330 ​ ​ $ 8,843 ​ ​ $ 73,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, 2022 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 38,977 ​ $ 59,277 ​ ​ $ 17,204 ​ ​ $ 115,458 Asia\Middle East ​ ​ 13,149 ​ ​ 3,579 ​ ​ ​ 1,384 ​ ​ ​ 18,112 Europe ​ ​ 10,371 ​ ​ 2,361 ​ ​ ​ 1,365 ​ ​ ​ 14,097 All other foreign ​ ​ 332 ​ ​ 874 ​ ​ ​ 90 ​ ​ ​ 1,296 Total Revenue ​ $ 62,829 ​ $ 66,091 ​ ​ $ 20,043 ​ ​ $ 148,963 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, 2021 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 17,724 ​ $ 24,504 ​ ​ $ 6,946 ​ ​ $ 49,174 Asia\Middle East ​ ​ 8,599 ​ ​ 2,155 ​ ​ ​ 1,119 ​ ​ ​ 11,873 Europe ​ ​ 5,124 ​ ​ 1,039 ​ ​ ​ 430 ​ ​ ​ 6,593 All other foreign ​ ​ 128 ​ ​ 647 ​ ​ ​ 32 ​ ​ ​ 807 Total Revenue ​ $ 31,575 ​ $ 28,345 ​ ​ $ 8,527 ​ ​ $ 68,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, 2021 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 36,109 ​ $ 47,809 ​ ​ $ 15,431 ​ ​ $ 99,349 Asia\Middle East ​ ​ 14,928 ​ ​ 3,836 ​ ​ ​ 2,569 ​ ​ ​ 21,333 Europe ​ ​ 10,330 ​ ​ 2,052 ​ ​ ​ 1,077 ​ ​ ​ 13,459 All other foreign ​ ​ 279 ​ ​ 1,139 ​ ​ ​ 64 ​ ​ ​ 1,482 Total Revenue ​ $ 61,646 ​ $ 54,836 ​ ​ $ 19,141 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Feb. 28, 2022
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 agreed to that could adversely affect the Company’s operating results or cash flows in a particular period. The Company routinely assesses all its litigation and threatened litigation as to the probability of ultimately incurring a liability and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Feb. 28, 2022
Pensions and Other Postretirement Benefits
Pensions and Other Postretirement Benefits	Note 11 — Pensions and Other Postretirement Benefits ​ The components of net periodic benefit cost for the three and six months ended February 28, 2022 and 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ 2022 2021 ​ 2022 2021 Components of net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 95 ​ $ 91 ​ ​ $ 190 ​ $ 183 ​ ​ Interest cost ​ ​ 96 ​ ​ 85 ​ ​ ​ 192 ​ ​ 170 ​ ​ Expected return on plan assets ​ ​ (103) ​ ​ (98) ​ ​ ​ (206) ​ ​ (196) ​ ​ Amortization of prior service cost ​ ​ 1 ​ ​ 1 ​ ​ ​ 2 ​ ​ 2 ​ ​ Amortization of accumulated loss ​ ​ 148 ​ ​ 164 ​ ​ ​ 296 ​ ​ 328 ​ ​ Net periodic benefit cost ​ $ 237 ​ $ 243 ​ ​ $ 474 ​ $ 487 ​ ​ ​ When funding is required, the Company’s policy is to contribute amounts that are deductible for federal income tax purposes. The Company has made contributions of

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Feb. 28, 2022
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 are: 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 February 28, 2022 and August 31, 2021 represent investments that are restricted for use in nonqualified retirement savings plans 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 February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ February 28, 2022 ​ $ 2,323 ​ $ 2,122 ​ $ 201 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted investments ​ August 31, 2021 ​ $ 2,260 ​ $ 2,016 ​ $ 244 ​ $ — ​ ​ The following table presents the fair value of the Company’s liabilities that are accounted for at fair value on a recurring basis as of February 28, 2022 and August 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ February 28, 2022 ​ $ — ​ $ — ​ $ — ​ $ — ​ Contingent consideration ​ February 28, 2022 ​ $ 2,692 ​ $ — ​ $ — ​ $ 2,692 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ August 31, 2021 ​ $ — ​ $ — ​ $ — ​ $ — ​ Contingent consideration ​ August 31, 2021 ​ $ 2,537 ​ $ — ​ $ — ​ $ 2,537 ​ ​ The long-term debt (including any current portion of long-term debt) had no outstanding balance as of February 28, 2022 and August 31, 2021. The carrying value of the long-term debt approximates its fair value, as the interest rate is set based on the movement of the underlying market rates. See Note 16 to the condensed consolidated financial statements for additional information on long-term debt. ​ In connection with accounting for the ABchimie acquisition on September 1, 2020, the Company recorded a contingent consideration liability included within Other liabilities on the condensed consolidated balance sheet of €780 (approximately $928) on the acquisition date, representing the fair value of contingent consideration payable upon the achievement of a performance-based target. The contingent consideration liability was valued using a Monte Carlo simulation model in an option pricing framework based on key inputs that are not all observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The Company assesses the fair value of the contingent consideration liability at each reporting period. Any subsequent changes in the estimated fair value of the liability are reflected in Loss (gain) on contingent consideration on the condensed consolidated statement of operations until the liability is settled. As of February 28, 2022, the liability increased to $2,692 predominantly due to changes in non-market data assumptions as well as a shorter period to the payment date.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Feb. 28, 2022
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 Plans Adjustment Total Balance at August 31, 2020 ​ $ 269 ​ $ (8,317) ​ $ (5,044) ​ $ (13,092) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive gains (losses) before reclassifications (1) ​ ​ 154 ​ ​ — ​ ​ 1,887 ​ ​ 2,041 ​ Reclassifications to net income of previously deferred (gains) losses (2) ​ ​ (36) ​ ​ 247 ​ ​ — ​ ​ 211 ​ Other comprehensive income (loss) ​ ​ 118 ​ ​ 247 ​ ​ 1,887 ​ ​ 2,252 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 28, 2021 ​ $ 387 ​ $ (8,070) ​ $ (3,157) ​ $ (10,840) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at August 31, 2021 ​ $ 518 ​ $ (7,979) ​ $ (3,749) ​ $ (11,210) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive gains (losses) before reclassifications (3) ​ ​ (106) ​ ​ — ​ ​ (2,058) ​ ​ (2,164) ​ Reclassifications to net income of previously deferred (gains) losses (4) ​ ​ (59) ​ ​ 224 ​ ​ — ​ ​ 165 ​ Other comprehensive income (loss) ​ ​ (165) ​ ​ 224 ​ ​ (2,058) ​ ​ (1,999) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 28, 2022 ​ $ 353 ​ $ (7,755) ​ $ (5,807) ​ $ (13,209) ​ (1) Net of tax benefit of $52 , $0 and $0 , respectively. (2) Net of tax expense of $13 , tax benefit of $83 and $0 , respectively. (3) Net of tax expense of $36 , $0 and $0 , respectively. (4) Net of tax expense of $21 , tax benefit of $74 and $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 February 28, ​ ​ Six Months Ended February 28, ​ Location of Gain (Loss) Reclassified from Accumulated ​ ​ ​ 2022 2021 2022 2021 ​ Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized loss (gain) on sale of restricted investments ​ ​ ​ ​ $ (73) ​ $ (44) ​ ​ $ (80) ​ $ (49) ​ Selling, general and administrative expenses ​ Tax expense (benefit) ​ ​ ​ ​ ​ 19 ​ ​ 12 ​ ​ ​ 21 ​ ​ 13 ​ ​ ​ Gain net of tax ​ ​ ​ ​ $ (54) ​ $ (32) ​ ​ $ (59) ​ $ (36) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss on Funded Pension Plan adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of prior pension service costs and unrecognized losses ​ ​ ​ ​ ​ 149 ​ ​ 165 ​ ​ ​ 298 ​ ​ 330 ​ Other income (expense) ​ Tax expense (benefit) ​ ​ ​ ​ ​ (37) ​ ​ (40) ​ ​ ​ (74) ​ ​ (83) ​ ​ ​ Loss net of tax ​ ​ ​ ​ $ 112 ​ $ 125 ​ ​ $ 224 ​ $ 247 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net loss reclassified for the period ​ ​ ​ ​ $ 58 ​ $ 93 ​ ​ $ 165 ​ $ 211 ​ ​ ​ ​

Income Taxes

Income Taxes	6 Months Ended
	Feb. 28, 2022
Income Taxes
Income Taxes	Note 14 — Income Taxes ​ For the three and six months ended February 28, 2022, the Company’s recognized effective tax rate was 26.2% and 26.0%, respectively. For the three and six months ended February 28, 2021, the Company’s recognized and effective tax rate was 28.7% and 25.5%, respectively. ​ The Company has applied the U.S. statutory Federal rate of 21%, enacted as part of the Tax Cuts and Jobs Act (the “Tax Act”) in December 2017, for both the second quarter and year-to-date fiscal periods ended February 28, 2022 and 2021. ​ In addition, the Company also recognizes an additional component of total Federal tax expense, the tax on Global Intangible Low-Taxed Income (“GILTI”) provision of the Tax Act, which became applicable to the Company in fiscal 2019. The Company elected to account for GILTI as a period cost, and therefore included GILTI expense in the effective tax rate calculation. This provision did not have a material effect on the effective tax rate for the second quarter and year-to-date fiscal periods ended February 28, 2022 and 2021. Additionally, the Company concluded that the Base Erosion and Anti Abuse Tax (“BEAT”) provision of the Tax Act, which also became applicable to the Company in fiscal 2019, had no effect on its effective tax rate for the second quarter and year-to-date fiscal periods ended February 28, 2022 and 2021. ​ On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, included a technical correction to the Tax Act which will allow accelerated deductions for qualified improvement property. The Company has evaluated the impact of the CARES Act, and at present does not expect that the qualified improvement property correction or other provisions of the CARES Act will result in a material tax benefit in future periods. The CARES Act had no material effect on the effective tax rate for the second quarter and year-to-date fiscal periods ended February 28, 2022 and 2021. ​ In July 2020, the United States Internal Revenue Service (“IRS”) released final regulations (TD 9901) that ease documentation standards and provide greater flexibility for taxpayers claiming the deduction for Foreign-Derived Intangible Income (“FDII”). During the second quarter and year-to-date fiscal periods ended February 28, 2022, FDII had a favorable impact on the Company’s effective tax rate.

Operations Optimization Costs

Operations Optimization Costs	6 Months Ended
	Feb. 28, 2022
Operations Optimization Costs
Operations Optimization Costs	0 Note 15 — Operations Optimization Costs ​ Relocation of Chase Corporate Headquarters ​ The Company substantially completed the relocation of its Corporate Headquarters to another location within Westwood, MA during the second quarter of the fiscal year. The move, part of the Company’s ongoing consolidation and optimization initiative, capitalizes on the hybrid work model utilized by many of Chase’s corporate and administrative employees and is expected to provide future operational cost savings. The new facility also consolidates and houses research and development operations previously conducted at the previous Westwood, MA and Woburn, MA locations. Operations optimization expenses related to the Westwood move of $141 and $200 were expensed in the second quarter and first half of the fiscal year, respectively. The Company does not anticipate any significant additional operations optimization costs related to the new Corporate Headquarters during the remaining second half of the fiscal year. ​ Relocation of Adhesives Systems Manufacturing to O'Hara Township, PA ​ During the third quarter of fiscal 2021, Chase announced to the employees at its Woburn, MA location that its adhesives systems operations, part of the Adhesives, Sealants and Additives segment’s electronic and industrial coatings product line, would be consolidating into the Company’s existing O'Hara Township, PA location. This rationalization and consolidation initiative aligns with the second quarter of fiscal 2021 announcement of the Company’s plan to move its sealant systems production from Newark, CA to Hickory, NC, described in more detail below. Chase Corporation obtained both the adhesive and sealants systems as part of its fiscal 2017 acquisition of the operations of Resin Designs. The Company expensed $301 related to the consolidation of the Woburn, MA location during the second quarter of the fiscal year and expects to recognize additional expense during the second half of the fiscal year. ​ Relocation of Sealants Systems Manufacturing to Hickory, NC ​ During the second quarter of fiscal 2021, Chase began moving the sealant systems operations, part of the Adhesives, Sealants and Additives segment’s electronic and industrial coatings product line, from its Newark, CA location to its Hickory, NC facility. This is in line with the Company’s ongoing initiative to consolidate its manufacturing plants and streamline its existing processes. The sealant systems operations and Newark, CA location came to Chase Corporation as part of the fiscal 2017 acquisition of the operations of Resin Designs, and the Company’s lease there terminated in fiscal 2021. The Company recognized $977 of expense related to the move during the entire prior fiscal year ended August 31, 2021 and $147 of expense in the second quarter and first half of fiscal 2022. This project is now substantially completed and any future costs related to this move are not anticipated to be significant to the condensed consolidated financial statements. ​ ​

Long-Term Debt

Long-Term Debt	6 Months Ended
	Feb. 28, 2022
Long-Term Debt
Long-Term Debt	​ Note 16 — Long-Term Debt ​ On July 27, 2021 (the fourth quarter of fiscal 2021), the Company entered into the Second Amended and Restated Credit Agreement (the “New Credit Agreement”) by and among the Company and NEPTCO Incorporated (“NEPTCO”), each as borrowers, the guarantor subsidiaries party thereto, the financial institutions party thereto as Lenders, and Bank of America, N.A., as administrative agent, with participation from Wells Fargo Bank, N.A., PNC Bank, N.A. and JPMorgan Chase Bank, N.A. The New Credit Agreement was entered into to amend, restate and extend the Company’s preexisting Amended and Restated Credit Agreement (the “Prior Credit Agreement”), which previously had a maturity date of December 15, 2021 and is discussed in more detail below, and to provide for additional liquidity to finance acquisitions, working capital and capital expenditures, and for other general corporate purposes. Under the New Credit Agreement, Chase obtained an increased revolving credit loan (the “New Revolving Facility”), with borrowing capabilities not to exceed $200,000 at any time, with the ability to request an increase in this amount by an additional $100,000 at the individual or collective option of any of the Lenders. The applicable interest rate for the New Revolving Facility and New Term Loan (defined below) is based on the effective London Interbank Offered Rate (LIBOR) plus a range of 1.00% to 1.75%, depending on the consolidated net leverage ratio of Chase and its subsidiaries. At February 28, 2022, there was no outstanding principal balance, and as such, no applicable interest rate. ​ The New Credit Agreement has a five-year term with interest payments due at the end of the applicable LIBOR period (but in no event less frequently than the three-month anniversary of the commencement of such LIBOR period) and principal payment due at the expiration of the agreement, July 27, 2026. The New Credit Agreement contains provisions that may replace LIBOR as the benchmark index under certain circumstances. In addition, the Company may elect a base rate option for all or a portion of the New Revolving Facility, in which case interest payments shall be due with respect to such portion of the New Revolving Facility on the last business day of each quarter. Subject to certain conditions set forth in the New Credit Agreement, the Company may elect to convert all or a portion of the outstanding New Revolving Facility into a new term loan twice during the term of the New Revolving Facility (each, a “New Term Loan”, and collectively with the New Revolving Facility, the “New Credit Facility”), which New Term Loan shall be payable quarterly in equal installments sufficient to amortize the original principal amount of such Term Loan on a ten year amortization schedule. ​ The outstanding balance on the New Credit Facility is guaranteed by all of Chase’s direct and indirect domestic subsidiaries, which collectively had a carrying value of approximately $291,810 at February 28, 2022. The New Credit Facility is subject to restrictive covenants under the New Credit Agreement, and financial covenants that require Chase and its subsidiaries to maintain certain financial ratios on a consolidated basis, including a consolidated net leverage ratio of 3.25 to 1.00 and a consolidated interest coverage ratio of 3.50 to 1.00 (both defined in the New Credit Agreement). Chase Corporation was in compliance with the debt covenants as of February 28, 2022. The New Credit Agreement also places certain Lender-approval requirements as to the size of permitted acquisitions which may be entered into by the Company and its subsidiaries, and allows for a temporary step-up in the allowed consolidated leverage ratio for the four fiscal quarters ending after certain designated acquisitions. Prepayment is allowed by the New Credit Agreement at any time during the term of the agreement, subject to customary notice requirements and the payment of customary LIBOR breakage fees. ​ The Prior Credit Agreement was an all-revolving credit facility with a borrowing capacity of $150,000, which could be increased by an additional $50,000 at the request of the Company and the individual or collective option of any of the lenders, and with an interest rate based on the effective LIBOR plus an additional amount in the range of 1.00% to 1.75%, depending on our consolidated net leverage ratio or, at the Company’s option, at the bank’s base lending rate. It was substantially available at July 27, 2021, the time of its amendment and restatement. ​ ​ ​ ​ ​ ​

Acquisitions

Acquisitions	6 Months Ended
	Feb. 28, 2022
Acquisitions
Acquisitions	​ Note 17 – Acquisitions ​ Acquisition of Emerging Technologies, Inc. ​ On February 5, 2021, the Company acquired certain assets of Emerging Technologies, Inc. (“ETi”), a superabsorbent polymers solutions provider, located in Greensboro, NC. The business was acquired for a purchase price of $9,997 , comprising $8,997 paid on February 5, 2021 and an accrual of $1,000 to be paid out up to eighteen months after the purchase, subsequent to final working capital adjustments, and excluding acquisition-related costs. As part of this transaction, Chase acquired substantially all working capital and fixed assets of the business and entered a multi-year lease at ETi’s existing location. The Company expensed $128 of acquisition-related costs during the three-month period ended February 28, 2021 associated with this acquisition. The purchase was funded with available cash on hand. ETi is a solutions provider and formulator of absorbent polymers for use in the packaging, recreational, consumer, and sanitation markets. The acquisition broadens the Company’s superabsorbent polymers product offerings and formulation capabilities while expanding its market reach. The Company finalized purchase accounting during the first quarter of fiscal 2022, with no significant change to amounts initially recorded. Since the effective date of the acquisition, the financial results of ETi’s acquired operations have been included in the Company’s financial statements within the functional additives product line, contained within the Adhesives, Sealants and Additives operating segment. The ETi acquisition does not represent a significant business combination so pro forma financial information is not provided. ​ The excess of the purchase price over the net tangible and intangible assets acquired resulted in goodwill of $2,451 that is largely attributable to the synergies and economies of scale from combining the operations, technologies and research and development capabilities of ETi and Chase, particularly as they pertain to the expansion of the Company's product and service offerings, the established workforce and marketing efforts. This goodwill is deductible for income tax purposes. ​ Acquisition of ABchimie ​ On September 1, 2020 (first day of fiscal 2021), the Company acquired all the capital stock of ABchimie for €18,654 (approximately $22,241 at the time of the transaction) net of cash acquired, subject to final working capital adjustments, excluding acquisition-related costs totaling $274 recognized in fiscal 2020 and with a performance-based earn out (measured over four years post-acquisition) potentially worth an additional €7,000 (approximately $8,330 at the time of the transaction). The Company had $2,692 accrued at February 28, 2022 within Other liabilities on the condensed consolidated balance sheet related to its estimate of the current fair value of the earn out. Following its initial recording at the acquisition date, changes in the performance-based earn out accrual have been recorded within (Gain) loss on contingent consideration in the condensed consolidated statement of operations (including a $200 gain in the second quarter and $275 year-to-date net loss adjustment in fiscal 2022). ​ ABchimie is a Corbelin, France headquartered solutions provider for the cleaning and protection of electronic assemblies, with ‎further formulation, production, and research and development capabilities‎. The transaction was funded with available cash on hand. The financial results of the business are included in the Company's financial statements within the Adhesives, Sealants and Additives operating segment in the electronic and industrial coatings product line. The Company finalized purchase accounting during the fourth quarter of fiscal 2021, with no significant change to amounts initially recorded. The excess of the purchase price over the net tangible and intangible assets acquired resulted in goodwill of $13,055 that is largely attributable to the synergies and economies of scale from combining the operations, technologies and research and development capabilities of ABchimie and Chase, particularly as they pertain to the expansion of the Company's product and service offerings, the established workforce and marketing efforts. A portion of this goodwill is deductible in the U.S. for calculation of GILTI period costs but is nondeductible for French income tax purposes.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Feb. 28, 2022
Inventory
Schedule of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ 2022 2021 Raw materials ​ ​ $ 30,957 ​ $ 24,055 Work in process ​ ​ ​ 7,825 ​ ​ 5,928 Finished goods ​ ​ ​ 14,214 ​ ​ 11,234 Total Inventory ​ ​ $ 52,996 ​ $ 41,217

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Feb. 28, 2022
Net Income Per Share
Schedule of determination of earnings per share under the two-class method	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic Earnings per Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 9,126 $ 9,171 ​ $ 18,853 $ 20,008 ​ Less: Allocated to participating securities ​ ​ 61 ​ ​ 62 ​ ​ ​ 124 ​ ​ 142 ​ Net income available to common shareholders $ 9,065 $ 9,109 ​ $ 18,729 $ 19,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 9,399,231 ​ ​ 9,381,666 ​ ​ ​ 9,398,552 ​ ​ 9,378,743 ​ Net income per share - Basic $ 0.96 $ 0.97 ​ $ 1.99 $ 2.12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted Earnings per Share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 9,126 $ 9,171 ​ $ 18,853 $ 20,008 ​ Less: Allocated to participating securities ​ ​ 61 ​ ​ 62 ​ ​ ​ 124 ​ ​ 142 ​ Net income available to common shareholders $ 9,065 $ 9,109 ​ $ 18,729 $ 19,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 9,399,231 ​ ​ 9,381,666 ​ ​ ​ 9,398,552 ​ ​ 9,378,743 ​ Additional dilutive common stock equivalents ​ ​ 37,184 ​ ​ 44,960 ​ ​ ​ 38,873 ​ ​ 43,908 ​ Diluted weighted average shares outstanding ​ ​ 9,436,415 ​ ​ 9,426,626 ​ ​ ​ 9,437,425 ​ ​ 9,422,651 ​ Net income per share - Diluted $ 0.96 $ 0.97 ​ $ 1.98 $ 2.11 ​

Segment Data and Foreign Oper_2

Segment Data and Foreign Operations (Tables)	6 Months Ended
	Feb. 28, 2022
Segment Data and Foreign Operations
Summary of information about the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 31,780 ​ ​ $ 31,575 ​ ​ $ 62,829 ​ ​ $ 61,646 ​ ​ Industrial Tapes ​ ​ 33,330 ​ ​ ​ 28,345 ​ ​ ​ 66,091 ​ ​ ​ 54,836 ​ ​ Corrosion Protection and Waterproofing ​ ​ 8,843 ​ ​ ​ 8,527 ​ ​ ​ 20,043 ​ ​ ​ 19,141 ​ ​ Total ​ $ 73,953 ​ ​ $ 68,447 ​ ​ $ 148,963 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 7,802 (a) ​ $ 10,137 (c) ​ $ 15,399 (a) ​ $ 20,116 (c) ​ Industrial Tapes ​ ​ 10,250 ​ ​ ​ 8,460 ​ ​ ​ 19,540 ​ ​ ​ 16,328 ​ ​ Corrosion Protection and Waterproofing ​ ​ 2,884 ​ ​ ​ 2,415 ​ ​ ​ 7,330 ​ ​ ​ 6,501 ​ ​ Total for reportable segments ​ ​ 20,936 ​ ​ ​ 21,012 ​ ​ ​ 42,269 ​ ​ ​ 42,945 ​ ​ Corporate and common costs ​ ​ (8,569) (b) ​ ​ (8,147) (c) ​ ​ (16,785) (b) ​ ​ (16,103) (c) ​ Total ​ $ 12,367 ​ ​ $ 12,865 ​ ​ $ 25,484 ​ ​ $ 26,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Includes the following costs by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 34 ​ ​ $ 24 ​ ​ $ 69 ​ ​ $ 54 ​ ​ Depreciation ​ ​ 220 ​ ​ ​ 247 ​ ​ ​ 463 ​ ​ ​ 489 ​ ​ Amortization ​ ​ 2,658 ​ ​ ​ 2,643 ​ ​ ​ 5,398 ​ ​ ​ 5,216 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial Tapes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 34 ​ ​ $ 15 ​ ​ $ 69 ​ ​ $ 42 ​ ​ Depreciation ​ ​ 411 ​ ​ ​ 428 ​ ​ ​ 821 ​ ​ ​ 893 ​ ​ Amortization ​ ​ 383 ​ ​ ​ 387 ​ ​ ​ 767 ​ ​ ​ 773 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corrosion Protection and Waterproofing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ $ 18 ​ ​ $ 28 ​ ​ $ 35 ​ ​ $ 40 ​ ​ Depreciation ​ ​ 129 ​ ​ ​ 136 ​ ​ ​ 247 ​ ​ ​ 275 ​ ​ Amortization ​ ​ 1 ​ ​ ​ 89 ​ ​ ​ 2 ​ ​ ​ 201 ​ ​ ​ (a) Includes a $200 gain in the second quarter and a $275 year-to-date loss on the adjustment of the performance-based earn-out contingent consideration associated with the September 2020 acquisition of ABchimie and $301 in operation optimization costs related to the move from Woburn, MA to O’Hara Township, PA and $147 of operations optimization costs related to the move from Newark, CA to Hickory, NC (b) Includes $141 of operations optimization costs in the second quarter and $200 year-to-date related to the Company’s move to the new Corporate Headquarters within Westwood, MA substantially completed in the second quarter of the fiscal year (c) Includes $733 in loss on the upward adjustment of the performance-based earn out contingent consideration associated with the September 2020 acquisition of ABchimie and $98 operations optimization in exit costs related to the movement of the sealants system business out of the Newark, CA location and into the Hickory, NC location during the second quarter of fiscal 2021. Also includes $128 in acquisition-related expense attributable to the February 2021 acquisition of the operations of ETi ​ Total assets for the Company’s reportable segments as of February 28, 2022 and August 31, 2021 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ 2022 2021 Total Assets ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 159,326 ​ $ 161,968 ​ ​ Industrial Tapes ​ ​ 76,773 ​ ​ 72,301 ​ ​ Corrosion Protection and Waterproofing ​ ​ 30,775 ​ ​ 31,067 ​ ​ Total for reportable segments ​ ​ 266,874 ​ ​ 265,336 ​ ​ Corporate and common assets ​ ​ 139,887 ​ ​ 138,823 ​ ​ Total ​ $ 406,761 ​ $ 404,159 ​ ​
Schedule of revenue by country	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 62,816 ​ ​ $ 55,629 ​ ​ $ 127,869 ​ ​ $ 111,371 ​ ​ United Kingdom ​ ​ 5,927 ​ ​ ​ 6,997 ​ ​ ​ 10,521 ​ ​ ​ 13,024 ​ ​ All other foreign (1) ​ ​ 5,210 ​ ​ ​ 5,821 ​ ​ ​ 10,573 ​ ​ ​ 11,228 ​ ​ Total ​ $ 73,953 ​ ​ $ 68,447 ​ ​ $ 148,963 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Comprises sales orders originated from the Company’s French locations, royalty revenue attributable to its licensed manufacturer in Asia, and Chase foreign manufacturing operations. ​ ​
Schedule of total assets for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ ​ 2022 2021 ​ ​ Long-Lived Assets ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ $ 21,046 ​ $ 20,990 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 110,305 ​ ​ 115,936 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United Kingdom ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ 2,023 ​ ​ 2,174 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 3,807 ​ ​ 3,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ All other foreign ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ ​ 1,068 ​ ​ 1,103 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ ​ 23,324 ​ ​ 24,979 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net ​ $ 24,137 ​ $ 24,267 ​ ​ Goodwill and Intangible assets, less accumulated amortization ​ $ 137,436 ​ $ 144,820 ​ ​

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Feb. 28, 2022
Goodwill and Other Intangibles
Schedule of changes in the carrying value of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives Industrial Tapes Corrosion Protection and Waterproofing Consolidated Balance at August 31, 2021 ​ $ 65,945 ​ $ 21,215 ​ $ 10,706 ​ $ 97,866 ​ Foreign currency translation adjustment ​ ​ (729) ​ ​ — ​ ​ (6) ​ ​ (735) ​ Balance at February 28, 2022 ​ $ 65,216 ​ $ 21,215 ​ $ 10,700 ​ $ 97,131 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of intangible assets subject to amortization	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ Net Carrying ​ ​ Amortization Period Value Amortization Value February 28, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents and agreements ​ 14.6 years $ 1,760 ​ $ 1,720 ​ $ 40 ​ Formulas and technology ​ 7.8 years ​ 10,930 ​ ​ 10,000 ​ ​ 930 ​ Trade names ​ 5.9 years ​ 8,804 ​ ​ 8,451 ​ ​ 353 ​ Customer lists and relationships ​ 9.1 years ​ 116,098 ​ ​ 77,116 ​ ​ 38,982 ​ ​ ​ ​ ​ $ 137,592 ​ $ 97,287 ​ $ 40,305 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents and agreements ​ 14.6 years $ 1,760 ​ $ 1,715 ​ $ 45 ​ Formulas and technology ​ 7.9 years ​ 10,987 ​ ​ 9,769 ​ ​ 1,218 ​ Trade names ​ 5.9 years ​ 8,836 ​ ​ 8,285 ​ ​ 551 ​ Customer lists and relationships ​ 9.2 years ​ 116,855 ​ ​ 71,715 ​ ​ 45,140 ​ ​ ​ ​ ​ $ 138,438 ​ $ 91,484 ​ $ 46,954 ​
Schedule of estimated amortization expense	​ ​ ​ ​ ​ ​ Years ending August 31, ​ ​ ​ 2022 (remaining 6 months) ​ $ 5,617 2023 ​ ​ 8,660 ​ 2024 ​ ​ 7,453 ​ 2025 ​ ​ 5,853 ​ 2026 ​ ​ 5,055 ​ 2027 ​ ​ 2,508 ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Feb. 28, 2022
Leases
Schedule of Lessee's balance sheet disclosure	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ 2022 ​ 2021 Assets ​ ​ ​ ​ Operating lease right-of-use asset ​ $ 9,554 ​ $ 9,312 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current (accrued expenses) ​ $ 1,484 ​ $ 1,515 Operating lease long-term liabilities ​ ​ 7,493 ​ ​ 7,202 Total lease liability ​ $ 8,977 ​ $ 8,717 ​ ​ ​ ​ ​ ​ ​
Schedule of components of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost (a) ​ $ 833 ​ $ 971 ​ ​ $ 1,661 ​ $ 1,922 ​ (a) Includes short-term leases and variable lease costs (e.g. common area maintenance), which are immaterial. ​
Schedule of Maturity of lease liability	​ ​ ​ ​ ​ ​ ​ Future Operating Year ending August 31, Lease Payments 2022 (remaining 6 months) ​ ​ 868 2023 ​ ​ 1,697 2024 ​ ​ 1,622 2025 ​ ​ 1,464 2026 ​ ​ 1,189 2027 and thereafter ​ ​ 3,009 Less: Interest ​ ​ (872) Present value of lease liabilities ​ $ 8,977
Schedule of weighted average remaining lease term and discount rates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ ​ ​ 2022 ​ 2021 ​ Lease Term and Discount Rate ​ ​ ​ ​ ​ Weighted average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.8 ​ ​ 6.8 ​ Weighted average discount rate (percentage) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 2.8 % ​ 3.1 %
Schedule of supplemental cash flow information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ Operating cash outflows from operating leases ​ $ 881 ​ $ 1,328 Total cash paid for amounts included in the measurement of lease liabilities ​ $ 881 ​ $ 1,328

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Feb. 28, 2022
Revenue from Contracts with Customers
Schedule of contract assets by reportable operating segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ February 28, ​ August 31, ​ 2022 2021 Contract Assets ​ ​ ​ ​ ​ ​ Adhesives, Sealants and Additives ​ $ 36 ​ $ 21 Industrial Tapes ​ ​ 25 ​ ​ 82 Corrosion Protection and Waterproofing ​ ​ 27 ​ ​ 25 Total ​ $ 88 ​ $ 128
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, 2022 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 18,882 ​ $ 29,643 ​ ​ $ 7,827 ​ ​ $ 56,352 Asia\Middle East ​ ​ 7,179 ​ ​ 1,781 ​ ​ ​ 494 ​ ​ ​ 9,454 Europe ​ ​ 5,575 ​ ​ 1,449 ​ ​ ​ 450 ​ ​ ​ 7,474 All other foreign ​ ​ 144 ​ ​ 457 ​ ​ ​ 72 ​ ​ ​ 673 Total Revenue ​ $ 31,780 ​ $ 33,330 ​ ​ $ 8,843 ​ ​ $ 73,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, 2022 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 38,977 ​ $ 59,277 ​ ​ $ 17,204 ​ ​ $ 115,458 Asia\Middle East ​ ​ 13,149 ​ ​ 3,579 ​ ​ ​ 1,384 ​ ​ ​ 18,112 Europe ​ ​ 10,371 ​ ​ 2,361 ​ ​ ​ 1,365 ​ ​ ​ 14,097 All other foreign ​ ​ 332 ​ ​ 874 ​ ​ ​ 90 ​ ​ ​ 1,296 Total Revenue ​ $ 62,829 ​ $ 66,091 ​ ​ $ 20,043 ​ ​ $ 148,963 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, 2021 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 17,724 ​ $ 24,504 ​ ​ $ 6,946 ​ ​ $ 49,174 Asia\Middle East ​ ​ 8,599 ​ ​ 2,155 ​ ​ ​ 1,119 ​ ​ ​ 11,873 Europe ​ ​ 5,124 ​ ​ 1,039 ​ ​ ​ 430 ​ ​ ​ 6,593 All other foreign ​ ​ 128 ​ ​ 647 ​ ​ ​ 32 ​ ​ ​ 807 Total Revenue ​ $ 31,575 ​ $ 28,345 ​ ​ $ 8,527 ​ ​ $ 68,447 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended February 28, 2021 ​ ​ Adhesives, Sealants ​ Industrial ​ ​ Corrosion Protection ​ ​ Consolidated ​ ​ and Additives Tapes ​ ​ and Waterproofing ​ ​ Revenue Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ $ 36,109 ​ $ 47,809 ​ ​ $ 15,431 ​ ​ $ 99,349 Asia\Middle East ​ ​ 14,928 ​ ​ 3,836 ​ ​ ​ 2,569 ​ ​ ​ 21,333 Europe ​ ​ 10,330 ​ ​ 2,052 ​ ​ ​ 1,077 ​ ​ ​ 13,459 All other foreign ​ ​ 279 ​ ​ 1,139 ​ ​ ​ 64 ​ ​ ​ 1,482 Total Revenue ​ $ 61,646 ​ $ 54,836 ​ ​ $ 19,141 ​ ​ $ 135,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	6 Months Ended
	Feb. 28, 2022
Pensions and Other Postretirement Benefits
Schedule of components of net periodic benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ ​ ​ 2022 2021 ​ 2022 2021 Components of net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 95 ​ $ 91 ​ ​ $ 190 ​ $ 183 ​ ​ Interest cost ​ ​ 96 ​ ​ 85 ​ ​ ​ 192 ​ ​ 170 ​ ​ Expected return on plan assets ​ ​ (103) ​ ​ (98) ​ ​ ​ (206) ​ ​ (196) ​ ​ Amortization of prior service cost ​ ​ 1 ​ ​ 1 ​ ​ ​ 2 ​ ​ 2 ​ ​ Amortization of accumulated loss ​ ​ 148 ​ ​ 164 ​ ​ ​ 296 ​ ​ 328 ​ ​ Net periodic benefit cost ​ $ 237 ​ $ 243 ​ ​ $ 474 ​ $ 487 ​ ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Feb. 28, 2022
Fair Value Measurements
Schedule of financial assets and liabilities 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 ​ February 28, 2022 ​ $ 2,323 ​ $ 2,122 ​ $ 201 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted investments ​ August 31, 2021 ​ $ 2,260 ​ $ 2,016 ​ $ 244 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ February 28, 2022 ​ $ — ​ $ — ​ $ — ​ $ — ​ Contingent consideration ​ February 28, 2022 ​ $ 2,692 ​ $ — ​ $ — ​ $ 2,692 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ August 31, 2021 ​ $ — ​ $ — ​ $ — ​ $ — ​ Contingent consideration ​ August 31, 2021 ​ $ 2,537 ​ $ — ​ $ — ​ $ 2,537 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Feb. 28, 2022
Accumulated Other Comprehensive Income
Schedule of components of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in Funded ​ Foreign Currency ​ ​ ​ ​ ​ ​ Restricted ​ Status of ​ Translation ​ ​ ​ ​ ​ Investments Pension Plans Adjustment Total Balance at August 31, 2020 ​ $ 269 ​ $ (8,317) ​ $ (5,044) ​ $ (13,092) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive gains (losses) before reclassifications (1) ​ ​ 154 ​ ​ — ​ ​ 1,887 ​ ​ 2,041 ​ Reclassifications to net income of previously deferred (gains) losses (2) ​ ​ (36) ​ ​ 247 ​ ​ — ​ ​ 211 ​ Other comprehensive income (loss) ​ ​ 118 ​ ​ 247 ​ ​ 1,887 ​ ​ 2,252 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 28, 2021 ​ $ 387 ​ $ (8,070) ​ $ (3,157) ​ $ (10,840) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at August 31, 2021 ​ $ 518 ​ $ (7,979) ​ $ (3,749) ​ $ (11,210) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive gains (losses) before reclassifications (3) ​ ​ (106) ​ ​ — ​ ​ (2,058) ​ ​ (2,164) ​ Reclassifications to net income of previously deferred (gains) losses (4) ​ ​ (59) ​ ​ 224 ​ ​ — ​ ​ 165 ​ Other comprehensive income (loss) ​ ​ (165) ​ ​ 224 ​ ​ (2,058) ​ ​ (1,999) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 28, 2022 ​ $ 353 ​ $ (7,755) ​ $ (5,807) ​ $ (13,209) ​ (1) Net of tax benefit of $52 , $0 and $0 , respectively. (2) Net of tax expense of $13 , tax benefit of $83 and $0 , respectively. (3) Net of tax expense of $36 , $0 and $0 , respectively. (4) Net of tax expense of $21 , tax benefit of $74 and $0 , respectively.
Summary of the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statements of income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive ​ ​ ​ ​ ​ ​ ​ ​ Income (Loss) into Income ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended February 28, ​ ​ Six Months Ended February 28, ​ Location of Gain (Loss) Reclassified from Accumulated ​ ​ ​ 2022 2021 2022 2021 ​ Other Comprehensive Income (Loss) into Income Gains on Restricted Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized loss (gain) on sale of restricted investments ​ ​ ​ ​ $ (73) ​ $ (44) ​ ​ $ (80) ​ $ (49) ​ Selling, general and administrative expenses ​ Tax expense (benefit) ​ ​ ​ ​ ​ 19 ​ ​ 12 ​ ​ ​ 21 ​ ​ 13 ​ ​ ​ Gain net of tax ​ ​ ​ ​ $ (54) ​ $ (32) ​ ​ $ (59) ​ $ (36) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss on Funded Pension Plan adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of prior pension service costs and unrecognized losses ​ ​ ​ ​ ​ 149 ​ ​ 165 ​ ​ ​ 298 ​ ​ 330 ​ Other income (expense) ​ Tax expense (benefit) ​ ​ ​ ​ ​ (37) ​ ​ (40) ​ ​ ​ (74) ​ ​ (83) ​ ​ ​ Loss net of tax ​ ​ ​ ​ $ 112 ​ $ 125 ​ ​ $ 224 ​ $ 247 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net loss reclassified for the period ​ ​ ​ ​ $ 58 ​ $ 93 ​ ​ $ 165 ​ $ 211 ​ ​ ​

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Details) € in Thousands, $ in Thousands	Feb. 05, 2021USD ($)	Sep. 01, 2020USD ($)	Sep. 01, 2020EUR (€)	Feb. 28, 2022USD ($)	Feb. 28, 2021USD ($)	Feb. 28, 2022USD ($)	Feb. 28, 2021USD ($)	Aug. 31, 2021USD ($)	Aug. 31, 2020USD ($)	Sep. 01, 2020EUR (€)
Consideration paid in cash							$ 31,238
Exit costs related to facilities				$ 589	$ 98	$ 648	98
Adhesives, Sealants and Additives
Restructuring cost				301
Newark
Exit costs related to facilities				147		147		$ 977
Newark | Adhesives, Sealants and Additives
Exit costs related to facilities				147		147		$ 977
Westwood, MA
Exit costs related to facilities				141
Restructuring cost				141		200
Other income/expense
Foreign currency translation gain (loss)				$ 96	(341)	$ 337	$ (437)
ABchime
Consideration paid in cash		$ 22,241	€ 18,654
Acquisition related expenses									$ 274
Potential earn out		$ 8,330								€ 7,000
Emerging Technologies
Purchase price	$ 9,997
Consideration paid in cash	8,997
Consideration to be paid	$ 1,000
Threshold period within which the accrued consideration will be paid	18 months
Acquisition related expenses					$ 128

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
Inventory
Raw materials	$ 30,957	$ 24,055
Work in process	7,825	5,928
Finished goods	14,214	11,234
Total Inventory	$ 52,996	$ 41,217

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Basic Earnings per Share
Net income	$ 9,126	$ 9,171	$ 18,853	$ 20,008
Less: Allocated to participating securities	61	62	124	142
Net income available to common shareholders	$ 9,065	$ 9,109	$ 18,729	$ 19,866
Basic weighted average shares outstanding	9,399,231	9,381,666	9,398,552	9,378,743
Net income per share - Basic (in dollars per share)	$ 0.96	$ 0.97	$ 1.99	$ 2.12
Diluted Earnings per Share
Net income	$ 9,126	$ 9,171	$ 18,853	$ 20,008
Less: Allocated to participating securities	61	62	124	142
Net income available to common shareholders	$ 9,065	$ 9,109	$ 18,729	$ 19,866
Basic weighted average shares outstanding	9,399,231	9,381,666	9,398,552	9,378,743
Additional dilutive common stock equivalents (in shares)	37,184	44,960	38,873	43,908
Diluted weighted average shares outstanding	9,436,415	9,426,626	9,437,425	9,422,651
Net income per share - Diluted (in dollars per share)	$ 0.96	$ 0.97	$ 1.98	$ 2.11
Antidilutive securities
Antidilutive stock options excluded from computation of earnings per share amount (in shares)	100,524	68,815	86,607	80,045

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	Feb. 01, 2022$ / sharesshares	Sep. 01, 2021$ / sharesshares	Sep. 01, 2020item$ / sharesshares	Feb. 28, 2022shares	Sep. 30, 2021item	Feb. 28, 2022shares	Nov. 30, 2021shares	Feb. 28, 2022shares
Restricted stock
Stock-Based Compensation
Shares granted								2,633
Restricted stock | Non-executive members of management
Stock-Based Compensation
Shares forfeited						1,129	437
Restricted stock | Non-employee directors
Stock-Based Compensation
Shares granted				5,000
Vesting period				12 months
Time-based restricted stock | Treasurer and Chief Financial Officer | Equity Retention Agreement
Stock-Based Compensation
Shares granted	5,332
Options | Treasurer and Chief Financial Officer | Equity Retention Agreement
Stock-Based Compensation
Shares granted	14,480
Exercise price (in dollars per share) | $ / shares	$ 94.88
2021 LTIP | Executive officers and other members of management | August 31, 2023 vesting date
Stock-Based Compensation
Shares granted			8,717
Weighted Average Exercise Price (in dollars per share) | $ / shares			$ 97.57
Number of equal annual allotments in which awards will vest | item			3
2021 LTIP | Performance and service based restricted stock | Executive officers and other members of management | August 31, 2023 vesting date
Stock-Based Compensation
Shares granted			3,798
2021 LTIP | Options | Executive officers and other members of management | August 31, 2023 vesting date
Stock-Based Compensation
Number Options Outstanding (in shares)			14,845
2022 LTIP | Performance and service based restricted stock | Executive officers and other members of management | August 31, 2024 vesting date
Stock-Based Compensation
Shares granted		3,304
2022 LTIP | Time-based restricted stock | Executive officers and other members of management | August 31, 2024 vesting date
Stock-Based Compensation
Shares granted		6,280
2022 LTIP | Options | Executive officers and other members of management
Stock-Based Compensation
Number Options Outstanding (in shares)		12,942
Weighted Average Exercise Price (in dollars per share) | $ / shares		$ 114.50
Number of equal annual allotments in which awards will vest | item					3
Expiration term		10 years

Segment Data and Foreign Oper_3

Segment Data and Foreign Operations (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2022USD ($)	Feb. 28, 2021USD ($)	Feb. 28, 2022USD ($)segment	Feb. 28, 2021USD ($)	Aug. 31, 2021USD ($)
Segment data
Number of operating segments | segment			3
Revenue	$ 73,953	$ 68,447	$ 148,963	$ 135,623
Income before income taxes	12,367	12,865	25,484	26,842
Interest	86	67	173	136
Depreciation			1,776	1,952
Amortization			6,167	6,190
Loss (gain) on contingent consideration	200	(733)	(275)	(733)
Acquisition-related costs (Note 17)		128		128
Exit costs related to facilities	589	98	648	98
Total assets	406,761		406,761		$ 404,159
ABchime
Segment data
Loss (gain) on contingent consideration	200		(275)
Newark
Segment data
Exit costs related to facilities	147		147		977
Westwood, MA
Segment data
Exit costs related to facilities	141
Adhesives, Sealants and Additives
Segment data
Revenue	31,780	31,575	62,829	61,646
Total assets	159,326		159,326		161,968
Adhesives, Sealants and Additives | ABchime
Segment data
Loss (gain) on contingent consideration	200		(275)
Adhesives, Sealants and Additives | Newark
Segment data
Exit costs related to facilities	147		147		977
Adhesives, Sealants and Additives | Woburn, MA
Segment data
Exit costs related to facilities	301	301	301
Adhesives, Sealants and Additives | Newark, CA
Segment data
Exit costs related to facilities	147		147
Industrial Tapes
Segment data
Revenue	33,330	28,345	66,091	54,836
Total assets	76,773		76,773		72,301
Corrosion Protection and Waterproofing
Segment data
Revenue	8,843	8,527	20,043	19,141
Total assets	30,775		30,775		31,067
Reportable segments
Segment data
Income before income taxes	20,936	21,012	42,269	42,945
Total assets	266,874		266,874		265,336
Reportable segments | Adhesives, Sealants and Additives
Segment data
Revenue	31,780	31,575	62,829	61,646
Income before income taxes	7,802	10,137	15,399	20,116
Interest	34	24	69	54
Depreciation	220	247	463	489
Amortization	2,658	2,643	5,398	5,216
Reportable segments | Industrial Tapes
Segment data
Revenue	33,330	28,345	66,091	54,836
Income before income taxes	10,250	8,460	19,540	16,328
Interest	34	15	69	42
Depreciation	411	428	821	893
Amortization	383	387	767	773
Reportable segments | Corrosion Protection and Waterproofing
Segment data
Revenue	8,843	8,527	20,043	19,141
Income before income taxes	2,884	2,415	7,330	6,501
Interest	18	28	35	40
Depreciation	129	136	247	275
Amortization	1	89	2	201
Corporate and common costs
Segment data
Income before income taxes	(8,569)	(8,147)	(16,785)	$ (16,103)
Total assets	139,887		139,887		$ 138,823
Corporate and common costs | ABchime
Segment data
Loss (gain) on contingent consideration	(733)		(733)
Corporate and common costs | Emerging Technologies
Segment data
Acquisition-related costs (Note 17)		128
Corporate and common costs | Newark, CA
Segment data
Exit costs related to facilities		$ 98
Corporate and common costs | Westwood, MA
Segment data
Exit costs related to facilities	$ 141		$ 200

Segment Data and Foreign Oper_4

Segment Data and Foreign Operations - Revenue and Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021	Aug. 31, 2021
Concentration risk
Revenue	$ 73,953	$ 68,447	$ 148,963	$ 135,623
Property, plant and equipment, net	24,137		24,137		$ 24,267
Goodwill and Intangible assets, less accumulated amortization	137,436		137,436		144,820
United States
Concentration risk
Revenue	62,816	55,629	127,869	111,371
Property, plant and equipment, net	21,046		21,046		20,990
Goodwill and Intangible assets, less accumulated amortization	110,305		110,305		115,936
United Kingdom
Concentration risk
Revenue	5,927	6,997	10,521	13,024
Property, plant and equipment, net	2,023		2,023		2,174
Goodwill and Intangible assets, less accumulated amortization	3,807		3,807		3,905
All other Foreign
Concentration risk
Revenue	5,210	$ 5,821	10,573	$ 11,228
Property, plant and equipment, net	1,068		1,068		1,103
Goodwill and Intangible assets, less accumulated amortization	$ 23,324		$ 23,324		$ 24,979

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Goodwill (Details) $ in Thousands	6 Months Ended
	Feb. 28, 2022USD ($)segmentitem
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 97,866
Foreign currency translation adjustment	(735)
Balance at the end of the period	$ 97,131
Number of reporting units | item	3
Number of operating segments | segment	3
Adhesives, Sealants and Additives
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 65,945
Foreign currency translation adjustment	(729)
Balance at the end of the period	65,216
Industrial Tapes
Changes in the carrying value of goodwill
Balance at the beginning of the period	21,215
Balance at the end of the period	21,215
Corrosion Protection and Waterproofing
Changes in the carrying value of goodwill
Balance at the beginning of the period	10,706
Foreign currency translation adjustment	(6)
Balance at the end of the period	$ 10,700

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Aug. 31, 2021
Goodwill and Other Intangibles
Gross Carrying Value	$ 137,592		$ 138,438
Accumulated Amortization	97,287		91,484
Net Carrying Value	40,305		$ 46,954
Aggregate amortization expense	6,167	$ 6,190
Estimated amortization expense
2022 (remaining 6 months)	5,617
2023	8,660
2024	7,453
2025	5,853
2026	5,055
2027	$ 2,508
Patents and agreements
Goodwill and Other Intangibles
Weighted-Average Amortization Period	14 years 7 months 6 days		14 years 7 months 6 days
Gross Carrying Value	$ 1,760		$ 1,760
Accumulated Amortization	1,720		1,715
Net Carrying Value	$ 40		$ 45
Formulas and technology
Goodwill and Other Intangibles
Weighted-Average Amortization Period	7 years 9 months 18 days		7 years 10 months 24 days
Gross Carrying Value	$ 10,930		$ 10,987
Accumulated Amortization	10,000		9,769
Net Carrying Value	$ 930		$ 1,218
Trade names
Goodwill and Other Intangibles
Weighted-Average Amortization Period	5 years 10 months 24 days		5 years 10 months 24 days
Gross Carrying Value	$ 8,804		$ 8,836
Accumulated Amortization	8,451		8,285
Net Carrying Value	$ 353		$ 551
Customer lists and relationships
Goodwill and Other Intangibles
Weighted-Average Amortization Period	9 years 1 month 6 days		9 years 2 months 12 days
Gross Carrying Value	$ 116,098		$ 116,855
Accumulated Amortization	77,116		71,715
Net Carrying Value	$ 38,982		$ 45,140

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
Assets
Operating lease right-of-use asset	$ 9,554	$ 9,312
Liabilities
Current (accrued expenses)	$ 1,484	$ 1,515
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease long-term liabilities	$ 7,493	$ 7,202
Total lease liability	$ 8,977	$ 8,717

Leases - Components Of Lease Co

Leases - Components Of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Leases
Operating lease cost	$ 833	$ 971	$ 1,661	$ 1,922

Leases - Maturity Of Lease Liab

Leases - Maturity Of Lease Liability (Details) - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
Maturity of lease liability
2022 (remaining 6 months)	$ 868
2023	1,697
2024	1,622
2025	1,464
2026	1,189
2027 and thereafter	3,009
Less: Interest	(872)
Lease liabilities	$ 8,977	$ 8,717

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term (Details) - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Aug. 31, 2021
Operating lease
Operating leases, Weighted average remaining lease term (years)	6 years 9 months 18 days		6 years 9 months 18 days
Operating leases, Weighted average discount rate (percentage)	2.80%		3.10%
Operating cash outflows from operating leases	$ 881	$ 1,328
Total cash paid for amounts included in the measurement of lease liabilities	$ 881	$ 1,328

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Feb. 28, 2022	Aug. 31, 2021
Contract Assets
Contract assets	$ 88	$ 128
Contract liabilities	0	0
Adhesives, Sealants and Additives
Contract Assets
Contract assets	36	21
Industrial Tapes
Contract Assets
Contract assets	25	82
Corrosion Protection and Waterproofing
Contract Assets
Contract assets	$ 27	$ 25

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Revenue from Contracts with Customers
Revenue	$ 73,953	$ 68,447	$ 148,963	$ 135,623
North America
Revenue from Contracts with Customers
Revenue	56,352	49,174	115,458	99,349
Asia/Middle East
Revenue from Contracts with Customers
Revenue	9,454	11,873	18,112	21,333
Europe
Revenue from Contracts with Customers
Revenue	7,474	6,593	14,097	13,459
All other foreign
Revenue from Contracts with Customers
Revenue	673	807	1,296	1,482
Adhesives, Sealants and Additives
Revenue from Contracts with Customers
Revenue	31,780	31,575	62,829	61,646
Adhesives, Sealants and Additives | North America
Revenue from Contracts with Customers
Revenue	18,882	17,724	38,977	36,109
Adhesives, Sealants and Additives | Asia/Middle East
Revenue from Contracts with Customers
Revenue	7,179	8,599	13,149	14,928
Adhesives, Sealants and Additives | Europe
Revenue from Contracts with Customers
Revenue	5,575	5,124	10,371	10,330
Adhesives, Sealants and Additives | All other foreign
Revenue from Contracts with Customers
Revenue	144	128	332	279
Industrial Tapes
Revenue from Contracts with Customers
Revenue	33,330	28,345	66,091	54,836
Industrial Tapes | North America
Revenue from Contracts with Customers
Revenue	29,643	24,504	59,277	47,809
Industrial Tapes | Asia/Middle East
Revenue from Contracts with Customers
Revenue	1,781	2,155	3,579	3,836
Industrial Tapes | Europe
Revenue from Contracts with Customers
Revenue	1,449	1,039	2,361	2,052
Industrial Tapes | All other foreign
Revenue from Contracts with Customers
Revenue	457	647	874	1,139
Corrosion Protection and Waterproofing
Revenue from Contracts with Customers
Revenue	8,843	8,527	20,043	19,141
Corrosion Protection and Waterproofing | North America
Revenue from Contracts with Customers
Revenue	7,827	6,946	17,204	15,431
Corrosion Protection and Waterproofing | Asia/Middle East
Revenue from Contracts with Customers
Revenue	494	1,119	1,384	2,569
Corrosion Protection and Waterproofing | Europe
Revenue from Contracts with Customers
Revenue	450	430	1,365	1,077
Corrosion Protection and Waterproofing | All other foreign
Revenue from Contracts with Customers
Revenue	$ 72	$ 32	$ 90	$ 64

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Components of net periodic benefit cost
Service cost	$ 95	$ 91	$ 190	$ 183
Interest cost	96	85	192	170
Expected return on plan assets	(103)	(98)	(206)	(196)
Amortization of prior service cost	1	1	2	2
Amortization of accumulated loss	148	164	296	328
Net periodic benefit cost	$ 237	$ 243	474	487
Employer contribution			$ 782	$ 783

Fair Value Measurements (Detail

Fair Value Measurements (Details) € in Thousands, $ in Thousands	Feb. 28, 2022USD ($)	Aug. 31, 2021USD ($)	Sep. 01, 2020USD ($)	Sep. 01, 2020EUR (€)
Fair value measurements
Long term debt outstanding	$ 0	$ 0
ABchime
Fair value measurements
Contingent consideration	2,692		$ 928	€ 780
Recurring basis
Fair value measurements
Restricted investments	2,323	2,260
Contingent consideration	2,692	2,537
Recurring basis | Quoted prices in active markets (Level 1)
Fair value measurements
Restricted investments	2,122	2,016
Recurring basis | Significant other observable inputs (Level 2)
Fair value measurements
Restricted investments	201	244
Recurring basis | Significant unobservable inputs (Level 3)
Fair value measurements
Contingent consideration	$ 2,692	$ 2,537

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Accumulated other comprehensive income
Balance	$ 343,275	$ 306,946	$ 344,324	$ 302,792
Total other comprehensive income (loss)	92	1,969	(1,999)	2,252
Balance	353,274	318,544	353,274	318,544
Accumulated Other Comprehensive Income (loss)
Accumulated other comprehensive income
Balance	(13,301)	(12,809)	(11,210)	(13,092)
Other comprehensive gains (losses) before reclassifications			(2,164)	2,041
Reclassifications to net income of previously deferred (gains) losses			165	211
Total other comprehensive income (loss)			(1,999)	2,252
Balance	(13,209)	(10,840)	(13,209)	(10,840)
Gains on Restricted Investments:
Accumulated other comprehensive income
Balance			518	269
Other comprehensive gains (losses) before reclassifications			(106)	154
Reclassifications to net income of previously deferred (gains) losses			(59)	(36)
Total other comprehensive income (loss)			(165)	118
Balance	353	387	353	387
Restricted investments, other comprehensive gains (losses) before reclassifications, tax expense			36	52
Restricted investments, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			(21)	13
Loss on Funded Pension Plan adjustments:
Accumulated other comprehensive income
Balance			(7,979)	(8,317)
Reclassifications to net income of previously deferred (gains) losses			224	247
Total other comprehensive income (loss)			224	247
Balance	(7,755)	(8,070)	(7,755)	(8,070)
Change in funded status of pension plan, other comprehensive gains (losses) before reclassifications, tax (expense) benefit			0	0
Change in funded status of pension plan, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			74	83
Foreign Currency Translation Adjustment
Accumulated other comprehensive income
Balance			(3,749)	(5,044)
Other comprehensive gains (losses) before reclassifications			(2,058)	1,887
Total other comprehensive income (loss)			(2,058)	1,887
Balance	$ (5,807)	$ (3,157)	(5,807)	(3,157)
Foreign currency translation adjustment, other comprehensive gains (losses) before reclassifications, tax (expense) benefit			0	0
Foreign currency translation adjustment, reclassifications to net income of previously deferred (gains) losses, tax (expense) benefit			$ 0	$ 0

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Accumulated other comprehensive income
Selling, general and administrative expenses	$ (13,125)	$ (12,331)	$ (26,500)	$ (24,591)
Amortization of prior pension service costs and unrecognized losses	1	1	2	2
Tax expense (benefit)	(3,241)	(3,694)	(6,631)	(6,834)
Net income (loss)	9,126	9,171	18,853	20,008
Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Net income (loss)	58	93	165	211
Gains on Restricted Investments: | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Selling, general and administrative expenses	(73)	(44)	(80)	(49)
Tax expense (benefit)	19	12	21	13
Net income (loss)	(54)	(32)	(59)	(36)
Loss on Funded Pension Plan adjustments: | Reclassification out of accumulated other comprehensive income (loss)
Accumulated other comprehensive income
Tax expense (benefit)	(37)	(40)	(74)	(83)
Net income (loss)	112	125	224	247
Loss on Funded Pension Plan adjustments: | Reclassification out of accumulated other comprehensive income (loss) | Other income (expense)
Accumulated other comprehensive income
Amortization of prior pension service costs and unrecognized losses	$ 149	$ 165	$ 298	$ 330

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Effective income tax rate
Effective income tax rate	26.20%	28.70%	26.00%	25.50%
Statutory tax rate (as a percent)	21.00%	21.00%	21.00%	21.00%

Operations Optimization Costs (

Operations Optimization Costs (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021	Aug. 31, 2021
Operations Optimization Costs
Exit costs related to facilities	$ 589		$ 98	$ 648	$ 98
Newark
Operations Optimization Costs
Exit costs related to facilities	147			147		$ 977
Westwood, MA
Operations Optimization Costs
Restructuring cost	141			200
Exit costs related to facilities	141
Westwood, MA
Operations Optimization Costs
Exit costs related to facilities		$ 200
Adhesives, Sealants and Additives
Operations Optimization Costs
Restructuring cost	301
Adhesives, Sealants and Additives | Woburn, MA
Operations Optimization Costs
Exit costs related to facilities	301		$ 301	301
Adhesives, Sealants and Additives | Newark
Operations Optimization Costs
Exit costs related to facilities	$ 147			$ 147		$ 977

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Jul. 27, 2021	Dec. 15, 2016	Feb. 28, 2022	Aug. 31, 2021
Long-term debt
Long-term Debt.			$ 0	$ 0
All-revolving credit facility with a borrowing capacity of $150,000
Long-term debt
Maximum borrowing capacity		$ 150,000
Additional borrowing capacity		$ 50,000
All-revolving credit facility with a borrowing capacity of $150,000 | London Interbank Offered Rate (LIBOR) | Minimum
Long-term debt
Interest rate margin on variable rate basis (as a percent)		1.00%
All-revolving credit facility with a borrowing capacity of $150,000 | London Interbank Offered Rate (LIBOR) | Maximum
Long-term debt
Interest rate margin on variable rate basis (as a percent)		1.75%
New Credit Agreement
Long-term debt
Maximum borrowing capacity	$ 200,000
Additional borrowing capacity	$ 100,000
Net leverage ratio	3.25
Consolidated interest coverage ratio	3.50
Carrying value of direct and indirect domestic subsidiaries			$ 291,810
Applicable interest rate (as a percent)			0.00%
Term of debt	5 years
Amount drawn remained outstanding			$ 0
Term of potential debt	10 years
New Credit Agreement | London Interbank Offered Rate (LIBOR)
Long-term debt
Interest payment due	3 months
New Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Long-term debt
Interest rate margin on variable rate basis (as a percent)	1.00%
New Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Long-term debt
Interest rate margin on variable rate basis (as a percent)	1.75%

Acquisitions (Details)

Acquisitions (Details) € in Thousands, $ in Thousands	Feb. 05, 2021USD ($)	Sep. 01, 2020USD ($)	Sep. 01, 2020EUR (€)	Feb. 28, 2022USD ($)	Feb. 28, 2021USD ($)	Feb. 28, 2022USD ($)	Feb. 28, 2021USD ($)	Aug. 31, 2020USD ($)	Aug. 31, 2021USD ($)	Sep. 01, 2020EUR (€)
Acquisitions
Consideration paid in cash							$ 31,238
Goodwill				$ 97,131		$ 97,131			$ 97,866
Loss (gain) on contingent consideration				(200)	$ 733	275	$ 733
Emerging Technologies
Acquisitions
Consideration paid in cash	$ 8,997
Purchase price	9,997
Consideration to be paid	$ 1,000
Threshold period within which the accrued consideration will be paid	18 months
Acquisition related expenses					$ 128
Goodwill	$ 2,451
ABchime
Acquisitions
Consideration paid in cash		$ 22,241	€ 18,654
Acquisition related expenses								$ 274
Performance-based earn out measurement period		4 years	4 years
Potential earn out		$ 8,330								€ 7,000
Accrued earn out		928		2,692		2,692				€ 780
Goodwill		$ 13,055
Loss (gain) on contingent consideration				$ (200)		$ 275