Lindsay (LNN) 10-K 19 Oct 23 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2023	Oct. 16, 2023	Feb. 28, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	LNN
Entity Registrant Name	Lindsay Corporation
Entity Central Index Key	0000836157
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity File Number	1-13419
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0554096
Entity Address, Address Line One	18135 Burke Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68022
City Area Code	402
Local Phone Number	829-6800
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $1.00 par value
Security Exchange Name	NYSE
Auditor Name	KPMG LLP
Auditor Location	Omaha, Nebraska
Auditor Firm ID	185
Entity Public Float			$ 1,656,579,623
Entity Common Stock, Shares Outstanding		11,010,307
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement pertaining to the Registrant’s annual stockholders' meeting to be held on January 9, 2024 are incorporated by reference into Part III of this Annual Report on Form 10-K.

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Statement [Abstract]
Operating revenues	$ 674,084	$ 770,743	$ 567,646
Cost of operating revenues	461,069	571,565	417,441
Gross profit	213,015	199,178	150,205
Operating expenses:
Selling expense	36,201	33,920	30,816
General and administrative expense	56,412	55,470	51,923
Engineering and research expense	18,218	15,145	13,359
Total operating expenses	110,831	104,535	96,098
Operating income	102,184	94,643	54,107
Other (expense) income:
Interest expense	(3,788)	(4,269)	(4,751)
Interest income	2,783	622	1,083
Other expense, net	(804)	(3,128)	(53)
Total other (expense) income	(1,809)	(6,775)	(3,721)
Earnings before income taxes	100,375	87,868	50,386
Income tax expense	27,996	22,399	7,814
Net earnings	$ 72,379	$ 65,469	$ 42,572
Earnings per share:
Basic	$ 6.58	$ 5.97	$ 3.91
Diluted	$ 6.54	$ 5.94	$ 3.88
Shares used in computing earnings per share:
Basic	11,003	10,965	10,886
Diluted	11,062	11,031	10,985
Cash dividends declared per share	$ 1.37	$ 1.33	$ 1.30

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 72,379	$ 65,469	$ 42,572
Other comprehensive (loss) income:
Defined benefit pension plan adjustment, net of tax	306	566	385
Foreign currency translation adjustment, net of hedging activities and tax	(24)	(3,839)	2,345
Unrealized gain (loss) on marketable securities, net of tax	181	(267)	(91)
Total other comprehensive income (loss), net of tax (benefit) expense of ($855), $1,399, and $409	463	(3,540)	2,639
Total comprehensive income	$ 72,842	$ 61,929	$ 45,211

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Statement of Comprehensive Income [Abstract]
Other comprehensive income (loss) , tax (benefit) expense	$ (855)	$ 1,399	$ 409

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Current assets:
Cash and cash equivalents	$ 160,755	$ 105,048
Marketable securities	5,556	11,460
Receivables, net of allowance of $5,048 and $4,118, respectively	144,774	138,200
Inventories, net	155,932	193,776
Other current assets	20,467	28,617
Total current assets	487,484	477,101
Property, plant, and equipment, net	99,681	94,472
Intangible assets, net	27,719	18,208
Goodwill	83,121	67,130
Operating lease right-of-use assets	17,036	19,181
Deferred income tax assets	10,885	9,313
Other noncurrent assets	19,734	25,248
Total assets	745,660	710,653
Current liabilities:
Accounts payable	44,278	60,036
Current portion of long-term debt	226	222
Other current liabilities	91,604	100,684
Total current liabilities	136,108	160,942
Pension benefits liabilities	4,382	4,892
Long-term debt	115,164	115,341
Operating lease liabilities	17,689	19,810
Deferred income tax liabilities	689	1,054
Other noncurrent liabilities	15,977	15,256
Total liabilities	290,009	317,295
Shareholders' equity:
Preferred stock of $1 par value - authorized 2,000 shares; no shares issued and outstanding	0	0
Common stock at $1 par value - authorized 25,000 shares; 19,094 and 19,063 shares issued at August 31, 2023 and 2022, respectively	19,094	19,063
Capital in excess of stated value	98,508	94,006
Retained earnings	636,297	579,000
Less treasury stock - at cost, 8,083 shares	(277,238)	(277,238)
Accumulated other comprehensive loss, net	(21,010)	(21,473)
Total shareholders' equity	455,651	393,358
Total liabilities and shareholders' equity	$ 745,660	$ 710,653

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Statement of Financial Position [Abstract]
Receivables, allowance	$ 5,048	$ 4,118
Preferred stock, par value	$ 1	$ 1
Preferred stock, authorized	2,000,000	2,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, authorized	25,000,000	25,000,000
Common stock, issued	19,094,000	19,063,000
Treasury stock, shares	8,083,000	8,083,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Capital In Excess Of Stated Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss, Net [Member]
Beginning balance, value at Aug. 31, 2020	$ 298,518	$ 18,918	$ (277,238)	$ 77,686	$ 499,724	$ (20,572)
Beginning balance, shares at Aug. 31, 2020		18,918	8,083
Net earnings	42,572				42,572
Other comprehensive income (loss)	2,639					2,639
Total comprehensive income	45,211
Cash dividends per share	(14,166)				(14,166)
Issuance of common shares under share compensation plans, net	2,696	$ 73		2,623
Issuance of common shares under share compensation plans, net, shares		73
Share-based compensation expense	6,186			6,186
Ending balance, value at Aug. 31, 2021	338,445	$ 18,991	$ (277,238)	86,495	528,130	(17,933)
Ending Balance, shares at Aug. 31, 2021		18,991	8,083
Net earnings	65,469				65,469
Other comprehensive income (loss)	(3,540)					(3,540)
Total comprehensive income	61,929
Cash dividends per share	(14,599)				(14,599)
Issuance of common shares under share compensation plans, net	2,125	$ 72		2,053
Issuance of common shares under share compensation plans, net, shares		72
Share-based compensation expense	5,458			5,458
Ending balance, value at Aug. 31, 2022	393,358	$ 19,063	$ (277,238)	94,006	579,000	(21,473)
Ending Balance, shares at Aug. 31, 2022		19,063	8,083
Net earnings	72,379				72,379
Other comprehensive income (loss)	463					463
Total comprehensive income	72,842
Cash dividends per share	(15,082)				(15,082)
Issuance of common shares under share compensation plans, net	(1,996)	$ 31		(2,027)
Issuance of common shares under share compensation plans, net, shares		31
Share-based compensation expense	6,529			6,529
Ending balance, value at Aug. 31, 2023	$ 455,651	$ 19,094	$ (277,238)	$ 98,508	$ 636,297	$ (21,010)
Ending Balance, shares at Aug. 31, 2023		19,094	8,083

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 1.37	$ 1.33	$ 1.30

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 72,379	$ 65,469	$ 42,572
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	19,282	20,178	19,177
Provision for uncollectible accounts receivable	881	903	771
Deferred income taxes	0	(2,063)	1,911
Share-based compensation expense	6,529	5,458	6,186
Foreign currency transaction loss (gain)	1,126	2,274	(1,934)
Other, net	1,569	695	(828)
Changes in assets and liabilities:
Receivables	(4,926)	(47,514)	(11,535)
Inventories	40,954	(53,803)	(38,158)
Other current assets	4,693	1,220	(8,132)
Accounts payable	(15,274)	13,832	17,993
Other current liabilities	(9,135)	186	18,433
Other noncurrent assets and liabilities	1,629	(3,787)	(2,488)
Net cash provided by operating activities	119,707	3,048	43,968
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(18,775)	(15,595)	(26,511)
Purchases of marketable securities available-for-sale	(4,932)	(18,468)	(19,356)
Proceeds from maturities of marketable securities available-for-sale	10,982	25,968	18,825
Acquisition of business, net of cash acquired	(30,842)	0	0
Other investing activities, net	(3,850)	(855)	(577)
Net cash used in investing activities	(47,417)	(8,950)	(27,619)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	32	2,894	3,965
Common stock withheld for payroll tax obligations	(2,471)	(1,181)	(1,269)
Proceeds from employee stock purchase plan	444	412	0
Principal payments on long-term debt	(222)	(218)	(195)
Dividends paid	(15,082)	(14,599)	(14,166)
Net cash used in financing activities	(17,299)	(12,692)	(11,665)
Effect of exchange rate changes on cash and cash equivalents	716	(3,465)	1,020
Net change in cash and cash equivalents	55,707	(22,059)	5,704
Cash and cash equivalents, beginning of period	105,048	127,107	121,403
Cash and cash equivalents, end of period	160,755	105,048	127,107
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid	20,305	15,738	6,805
Interest paid	3,907	3,811	4,640
NONCASH INVESTING ACTIVITIES
Issuance of notes receivable from sale of business	$ 0	$ 0	$ 2,051

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 72,379	$ 65,469	$ 42,572

Description of Business and Sig

Description of Business and Significant Accounting Policies	12 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Significant Accounting Policies	Note 1 – Description of Business and Significant Accounting Policies Lindsay Corporation, along with its subsidiaries (collectively called “Lindsay” or the “Company”), is a global leader in providing a variety of proprietary water management and road infrastructure products and services. The Company has been involved in the manufacture and distribution of agricultural irrigation equipment since 1955 and has grown from a regional company to an international water efficiency solutions and highway infrastructure firm with worldwide sales and distribution. Lindsay, a Delaware corporation, maintains its global headquarters in Omaha, Nebraska. The Company has operations which are categorized into two reporting segments. Irrigation Segment The Company’s irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems which are used principally in the agricultural industry to increase or stabilize crop production while conserving water, energy and labor. The irrigation segment also manufactures and markets repair and replacement parts for its irrigation systems and controls. The Company continues to strengthen irrigation product offerings through innovative technology such as Global Positioning System (“GPS”) positioning and guidance, variable rate irrigation, wireless irrigation management, machine-to-machine (“M2M”) communication technology solutions and mobile device applications. The Company’s domestic irrigation manufacturing facilities are located in Lindsay, Nebraska and Olathe, Kansas. Internationally, the Company has production operations in Brazil, France, China, Türkiye (formerly Turkey) and South Africa as well as distribution and sales operations in the Netherlands, Egypt, Australia and New Zealand. The Company also exports equipment from the U.S. to other international markets. Infrastructure Segment The Company’s infrastructure segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, and railroad signals and structures. The principal infrastructure manufacturing facilities are located in Rio Vista, California; Milan, Italy; and Lindsay, Nebraska. Notes to the consolidated financial statements describe various elements of the financial statements and the accounting policies, estimates, and assumptions applied by management. While actual results could differ from those estimated at the time of preparation of the consolidated financial statements, management believes that the accounting policies, assumptions, and estimates applied promote the representational faithfulness, verifiability, neutrality, and transparency of the accounting information included in the consolidated financial statements. The significant accounting policies of the Company are as follows: Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled for exchange of those goods or services. Refer to Note 3 for additional information regarding our revenue recognition policy under ASC 606. Share-Based Compensation The Company recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values on the date of grant. The Company uses the straight-line amortization method over the vesting period of the awards and records forfeitures as they occur.. The Company has historically issued shares upon exercise of stock options or vesting of restricted stock units or performance stock units. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Company’s consolidated statement of earnings over the periods during which the employee or director is required to perform a service in exchange for the award. The Company uses the Black-Scholes option-pricing model (“Black-Scholes model”) as its valuation method for stock option awards. Under the Black-Scholes model, the fair value of stock option awards on the date of grant is estimated using an option-pricing model that is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behaviors. Restricted stock, restricted stock units, and the performance-based portion of performance stock units issued under the 2015 Long-Term Incentive Plan will have a grant-date fair value equal to the fair market value of the underlying stock on the grant date less present value of expected dividends. The portion of performance stock units based on market-based metrics will have a grant-date fair value calculated through a Monte Carlo simulation model using a number of inputs. The inputs to the Company’s Monte Carlo valuation model are summarized in Note 19 – Share-Based Compensation. Warranty Costs The Company’s provision for product warranty reflects management’s best estimate of probable liability under its product warranties. At the time a sale is recognized, the Company records the estimated future warranty costs. The Company generally determines its total future warranty liability by applying historical claims rate experience to the amount of equipment that has been sold and is still within the warranty period. In addition, the Company records provisions for known warranty claims and adjusts for current trends, if applicable. This provision is periodically adjusted to reflect actual experience. Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with original maturities of three months or less. Marketable Securities The Company accounts for and classifies its marketable securities in accordance with the accounting guidance related to the accounting and classification of certain investments in marketable securities. The determination on appropriate classification is based primarily on management’s ability and intent to sell the debt security. The Company’s investment in marketable securities consists of United States treasury bonds and investment grade corporate bonds. The marketable securities are classified as available-for-sale and are carried at fair value with the change in unrealized gains and losses reported as a separate component on the consolidated statements of comprehensive income until realized. The Company determines fair value using data points that are observable, such as quoted prices and interest rates. Investment income is recorded within interest income on the consolidated statements of earnings. As of August 31, 2023 , approximately 96 % of the Company’s marketable securities investments mature within one year and 4 % mature within one to two years. Receivables, net Trade receivables are reported on the balance sheet net of an allowance for expected credit losses. The allowance for expected credit losses is based on a number of factors, including the aging of outstanding receivables and historical losses. In addition, the Company incorporates current economic conditions and customer specific circumstances and details in its estimate for expected credit losses. Receivables are written off against the allowance when the receivable is deemed uncollectible and all collection efforts have been completed. The Company’s allowance for all expected credit losses related to outstanding receivables increased to $ 5.0 million at August 31, 2023 from $ 4.1 million at August 31, 2022 . The Company’s evaluation of the adequacy of the allowance for credit losses is based on facts and circumstances available to the Company at the date the consolidated financial statements are issued and considers any significant changes in circumstances occurring through the date that the financial statements are issued. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the last‑in, first‑out (“LIFO”) method, the first-in, first-out (“FIFO”) method, or the weighted average cost method for inventory depending on the operations at each specific location. At all locations, the Company reserves for obsolete, slow moving, and excess inventory by estimating the net realizable value based on the potential future use of such inventory. Property, Plant, and Equipment Property, plant, equipment, and capitalized assets held for lease are stated at cost. The Company capitalizes major expenditures and charges to operating expenses the cost of current maintenance and repairs. Provisions for depreciation and amortization have been computed principally on the straight-line method for property, plant, and equipment. Rates used for depreciation are based principally on the following expected lives: buildings ‑‑ 15 to 40 years; equipment ‑‑ 3 to 7 years; computer hardware and software – 3 to 5 years; leased barrier transfer machines -- 8 to 10 years; leased barriers -- 12 years; other ‑‑ 2 to 20 years and leasehold improvements – shorter of the economic life or term of the lease. The Company’s internally developed software is included in computer hardware and software. All of the Company’s long‑lived asset groups are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected future cash flows is less than the carrying amount of the asset group, an impairment loss is recognized based upon the difference between the fair value of the asset and its carrying value. No impairments were recorded during the fiscal years ended August 31, 2023, 2022, and 2021 . The cost and accumulated depreciation relating to assets retired or otherwise disposed of are eliminated from the respective accounts at the time of disposition. The resulting gain or loss is included in operating income in the consolidated statements of earnings. Valuation of Goodwill and Identifiable Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Acquired intangible assets are recognized separately from goodwill. Goodwill and other intangible assets are tested for impairment at least annually and whenever triggering events or changes in circumstances indicate its carrying value may not be recoverable. Assessment of the potential impairment of goodwill and identifiable intangible assets is an integral part of the Company’s normal ongoing review of operations. Testing for potential impairment of these assets is significantly dependent on numerous assumptions and reflects management’s best estimates at a particular point in time. The dynamic economic environments in which the Company’s businesses operate and key economic and business assumptions related to projected selling prices, market growth, inflation rates and operating expense ratios, can significantly affect the outcome of impairment tests. Estimates based on these assumptions may differ significantly from actual results. Changes in factors and assumptions used in assessing potential impairments can have a significant impact on the existence and magnitude of impairments, as well as the time in which such impairments are recognized. In fiscal 2023, in conjunction with the Company’s annual review for impairment, the Company performed a qualitative analysis of goodwill for each of the Company’s reporting units, which are the same as its operating segments, and did not identify any potential impairment. The estimated fair value of all reporting units is substantially in excess of its carrying value. Also in fiscal 2023 , the Company performed a qualitative analysis of other intangible assets and concluded there were no indicators of impairment. Income Taxes Income taxes are accounted for utilizing the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying value of existing assets and liabilities and their respective tax bases. These expected future tax consequences are measured based on currently enacted tax rates. The effect of tax rate changes on deferred tax assets and liabilities is recognized in income during the period that includes the enactment date. In assessing the ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company’s evaluation of the adequacy of any potential allowance is based on facts and circumstances available to the Company at the date the consolidated financial statements are issued and considers any significant changes in circumstances occurring through the date that the financial statements are issued. Net Earnings per Share Basic net earnings per share is computed using the weighted average number of common shares outstanding during the period. Diluted net earnings per share is computed using the weighted average number of common shares outstanding plus dilutive potential common shares outstanding during the period. Employee stock options, non-vested shares and similar equity instruments granted by the Company are treated as potential common share equivalents outstanding in computing diluted net earnings per share. The Company’s diluted common shares outstanding reported in each period includes the dilutive effect of restricted stock units, in-the-money options, and performance stock units for which threshold performance conditions have been satisfied and is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options, and the amount of compensation cost for future service that the Company has not yet recognized, are assumed to be used to repurchase shares. Derivative Instruments and Hedging Activities The Company uses certain financial derivatives to mitigate its exposure to volatility in interest rates and foreign currency exchange rates. All derivative instruments are recorded on the balance sheet at their respective fair values. The Company uses these derivative instruments only to hedge exposures in the ordinary course of business and does not invest in derivative instruments for speculative purposes. On the date a derivative contract is entered into, the Company may elect to designate the derivative as a fair value hedge, a cash flow hedge, or the hedge of a net investment in a foreign operation. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative that is used in the hedging transaction is effective. Changes in fair value of derivative instruments that qualify as hedges of a net investment in foreign operations are recorded as a component of accumulated currency translation adjustment in accumulated other comprehensive income (“AOCI”), net of related income tax effects. The Company discontinues hedge accounting prospectively when it is determined that the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative expires or is sold, terminated, or exercised, or management determines that designation of the derivative as a hedging instrument is no longer appropriate. In situations in which the Company does not elect hedge accounting or hedge accounting is discontinued and the derivative is retained, the Company carries or continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value through earnings. The Company manages market and credit risks associated with its derivative instruments by establishing and monitoring limits as to the types and degree of risk that may be undertaken, and by entering into transactions with high-quality counterparties. As of August 31, 2023 , the Company’s derivative counterparties had investment grade credit ratings. Fair Value Measurements The Company’s disclosure of the fair value of assets and liabilities is based on a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refers broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: • Level 1 – inputs to valuation techniques are quoted prices in active markets for identical assets or liabilities • Level 2 – inputs to the valuation techniques are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly • Level 3 – inputs to the valuation techniques are unobservable for the assets or liabilities Treasury Stock When the Company repurchases its outstanding stock, it records the repurchased shares at cost as a reduction to shareholders’ equity. The weighted average cost method is utilized for share re-issuances. The difference between the cost and the re-issuance price is charged or credited to a “capital in excess of stated value – treasury stock” account to the extent that there is a sufficient balance to absorb the charge. If the treasury stock is sold for an amount less than its cost and there is not a sufficient balance in the capital in excess of stated value – treasury stock account, the excess is charged to retained earnings. Contingencies The Company’s accounting for contingencies covers a variety of business activities including contingencies for legal exposures and environmental exposures. The Company accrues these contingencies when its assessments indicate that it is probable that a liability has been incurred and an amount can be reasonably estimated. The Company’s estimates are based on currently available facts and its estimates of the ultimate outcome or resolution. Actual results may differ from the Company’s estimates resulting in an impact, positive or negative, on earnings. Environmental Remediation Liabilities Environmental remediation liabilities include costs directly associated with site investigation and clean up, such as materials, external contractor costs and incremental internal costs directly related to the remedy. The Company accrues the anticipated cost of environmental remediation when the obligation is probable and can be reasonably estimated. Estimates used to record environmental remediation liabilities are based on the Company’s best estimate of probable future costs based on site-specific facts and circumstances. Estimates of the cost for the likely remedy are developed using internal resources or by third-party environmental engineers or other service providers. The Company records the environmental remediation liabilities that represent the points in the range of estimates that are most probable or the minimum amount when no amount within the range is a better estimate than any other amount. Portions of the long-term liability that are fixed and reliably determinable are discounted at a risk-free rate. Translation of Foreign Currency The Company’s portion of the assets and liabilities related to foreign investments are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average rates of exchange prevailing during the year. Unrealized gains or losses are reflected within common shareholders’ equity as accumulated other comprehensive income or loss.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Aug. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	Note 2 – New Accounting Pronouncements Recent Accounting Guidance Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting and related disclosure requirements for income taxes. The Company adopted this standard in the first quarter of its fiscal 2022. The adoption of this ASU did not have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The Company adopted this in the first quarter of the Company’s fiscal 2021. The adoption of this ASU did not have a material impact on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill; rather, an entity will measure its goodwill impairment by the amount the carrying value exceeds the fair value of a reporting unit. The Company adopted this in the first quarter of the Company’s fiscal 2021. The adoption of this ASU did not have a material impact on its consolidated financial statements and related disclosures. Recent Accounting Guidance Not Yet Adopted In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs , which requires annual and interim disclosures for entities that finance its purchases with supplier finance programs. These amendments are effective for the Company beginning it its fiscal 2024, except for the amendment on rollforward information, which is effective for the Company beginning in its fiscal 2025. The adoption of this ASU is not expected to have a material impact on its consolidated financial statements.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 3 – Revenue Recognition The Company determines the appropriate revenue recognition for its contracts by analyzing the type, terms and conditions of each contract or arrangement with a customer. Revenue is recognized when the Company satisfies the performance obligation by transferring control over goods or services to a customer. The amount of revenue recognized is measured as the consideration the Company expects to receive in exchange for those goods or services pursuant to a contract with the customer. The Company does not recognize revenue in cases where collectability is not probable, and defers the recognition until collection is probable or payment is received. Sales taxes, value added taxes, and other taxes collected from its customers concurrent with its revenue activities are excluded from revenue. The Company elected to use the practical expedient of treating shipping and handling costs associated with outbound freight as a fulfillment obligation instead of a separate performance obligation. Shipping and handling fees billed to the customer are reported as revenue and recorded in the same period as the associated fulfillment costs. Customer rebates, cash discounts and other sales incentives are recorded as a reduction of revenues in the period in which the sale is recognized. For contracts with a length longer than twelve months, the unsatisfied performance obligations were $ 1.5 million and $ 2.0 million at August 31, 2023 and 2022, respectively. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. For contracts with multiple performance obligations, the Company allocates the transaction price to each performance obligation using the stand-alone selling price of each distinct good or service in the contract. For most performance obligations, the stand-alone selling price is directly observable as these goods or services are also sold separately by the Company. For performance obligations where the stand-alone selling price is not directly observable, the Company uses the expected cost plus a margin approach, under which the expected costs of satisfying a performance obligation are forecasted and then an appropriate margin for that distinct good or service is added. The Company’s performance obligations are satisfied at either a point in time or over time depending on the measure of progress applied toward the complete satisfaction in the transfer of control of the related goods and services to the customer. Revenue recognized at a point in time is derived from the sale of equipment and related parts. Revenue recognition for equipment and parts is generally at a point in time upon transfer of control of the goods to the customer which generally happens upon shipment of goods to the customer. Revenue recognized over time is primarily derived from remote monitoring subscription services and custom and contract manufactured products. For fixed price agreements, the Company recognizes revenue on an inputs basis, using total costs incurred to date as a percentage of total costs expected to be incurred. For time and material arrangements, the Company utilizes an output method of resources consumed such as the expended hours times the hourly billing rate. For remote monitoring subscription services, customers are generally billed in advance and revenue is recognized ratably over the life of the agreement. For custom and contract manufactured products, the transfer of control is continuous over the life of the agreement and products do not have an alternate use to the Company. When the customer agreements contain contractual termination clauses and right to payment for work performed to date, the revenue from these agreements is recognized over time as the products are produced. The Company also leases certain infrastructure property to customers. Revenues from the leasing of infrastructure property are recognized on a straight-line basis over the lease term. A breakout by segment of revenue recognized over time versus point in time for twelve months ended August 31, 2023 and 2022, is as follows: Year ended August 31, 2023 ($ in thousands) Irrigation Infrastructure Total Point in time $ 559,826 $ 69,540 $ 629,366 Over time 26,205 6,334 32,539 Revenue from the contracts with customers 586,031 75,874 661,905 Lease revenue — 12,179 12,179 Total operating revenues $ 586,031 $ 88,053 $ 674,084 Year ended August 31, 2022 ($ in thousands) Irrigation Infrastructure Total Point in time $ 643,169 $ 88,681 $ 731,850 Over time 22,660 5,753 28,413 Revenue from the contracts with customers 665,829 94,434 760,263 Lease revenue — 10,480 10,480 Total operating revenues $ 665,829 $ 104,914 $ 770,743 Further disaggregation of revenue is disclosed in the Note 18 – Industry Segment Information. Contract Balances Contract assets arise when recorded revenue for a contract exceeds the amounts billed under the terms of such contract. Contract liabilities arise when billed amounts exceed revenue recorded. Amounts are billable to customers upon various measures of performance, including achievement of certain milestones and completion of specified units of completion of the contract. Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date. The contract liabilities primarily relate to the advance consideration received from customers for customer contracts, for which transfer of control of products or performance of service occurs in the future, and therefore revenue is recognized upon completion of the performance obligation. The Company has elected to recognize the incremental costs of obtaining a contract with a term of less than one year as a selling expense when incurred. At August 31, 2023 and 2022, contract assets amounted to $ 1.3 million and $ 0.9 million, respectively. These amounts are included within other current assets on the consolidated balance sheet. At August 31, 2023, and 2022, contract liabilities amounted to $ 20.5 million and $ 30.6 million, respectively. Contract liabilities are included within other current liabilities and noncurrent liabilities on the consolidated balance sheet. During the year ended August 31, 2023, the Company recognized $ 27.7 million of revenue that was included in the liability as of August 31, 2022 . The revenue recognized was due to performance obligations being completed during the year. Amounts included here exclude deferred lease revenues that are also included within other current liabilities.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Aug. 31, 2023
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 4 – Acquisitions and Divestitures FieldWise, LLC On July 28, 2023 ("the acquisition date"), the Company completed the acquisition of the membership interests of FieldWise, LLC ("FieldWise"). FieldWise is a market leader in agricultural technology products with a focus on subscription-based, precision irrigation solutions. The purchase price of $ 32.6 million was financed through an all cash transaction from the Company's cash on hand. The following table summarizes the preliminary purchase price allocation for FieldWise at the acquisition date. The Company expects the purchase price allocation to be finalized by the end of fiscal 2024. ($ in thousands) Total Cash and cash equivalents $ 1,779 Accounts receivable 376 Inventories 2,651 Property and equipment 2,443 Deferred tax asset 94 Intangible assets 11,400 Goodwill 15,589 Accounts payable and accrued liabilities ( 252 ) Deferred revenues ( 1,229 ) Non-current deferred revenues ( 230 ) Total purchase price 32,621 The acquired intangible assets inclu de amortizable intangible assets of $ 10.7 million and indefinite-lived intangible assets of $ 0.7 million related to tradenames. The amortizable intangible assets have a weighted average useful life of approximately 13.1 years. The following table summarizes the identifiable intangible assets at fair value. ($ in thousands) Weighted average useful life in years Fair value of identifiable asset Intangible assets: Customer relationships 15.0 $ 8,700 Developed technology 5.0 2,000 Tradenames N/A 700 Total intangible assets 13.1 $ 11,400 Goodwill related to the acquisition of FieldWise primarily relates to intangible assets that do not qualify for separate recognition, including the experience and knowledge of FieldWise management, its assembled workforce, and its intellectual capital and specialization with monitoring technology solutions, data acquisition and management systems. This goodwill is included in the irrigation reporting segment and is deductible for income tax purposes. Pro forma information related to this acquisition was not included because the impact on the Company’s consolidated financial statements was not considered to be material. IRZ Consulting, LLC On August 27, 2021, the Company completed the divestiture of ownership interests in IRZ Consulting, LLC (“IRZ”). Proceeds from the sale totaled $ 3.4 million, which consisted of (i) $ 1.3 million in cash and (ii) $ 2.1 million in short-term notes. A gain of $ 1.1 million was recorded in general and administrative expense on the consolidated statement of earnings in the year ended August 31, 2021.

Net Earnings Per Share

Net Earnings Per Share	12 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
Net Earnings Per Share	Note 5 – Net Earnings Per Share The following table shows the computation of basic and diluted net earnings per share for fiscal 2023, 2022, and 2021: For the years ended August 31, ($ and shares in thousands, except per share amounts) 2023 2022 2021 Numerator: Net earnings $ 72,379 $ 65,469 $ 42,572 Denominator: Weighted average shares outstanding 11,003 10,965 10,886 Diluted effect of stock equivalents 59 66 99 Weighted average shares outstanding assuming dilution 11,062 11,031 10,985 Basic net earnings per share $ 6.58 $ 5.97 $ 3.91 Diluted net earnings per share $ 6.54 $ 5.94 $ 3.88 Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive. Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied. The number of securities excluded from the computation of earnings per share because their effect would have been anti-dilutive was not significant for fiscal 2023, 2022, and 2021 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Aug. 31, 2023
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Note 6 – Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is included in the accompanying consolidated balance sheets in the shareholders’ equity section, and consists of the following components: August 31, ($ in thousands) 2023 2022 Accumulated other comprehensive loss: Defined benefit pension plan, net of tax benefit of $ 620 and $ 716 $ ( 1,971 ) ( 2,277 ) Foreign currency translation, net of hedging activities, net of tax 3,868 and $ 4,875 ( 18,948 ) ( 18,924 ) Unrealized loss on marketable securities, net of tax benefit of $ 23 and $ 78 ( 91 ) ( 272 ) Total accumulated other comprehensive loss $ ( 21,010 ) $ ( 21,473 ) The following is a roll-forward of the balances in accumulated other comprehensive loss, net of tax. Unrealized Accumulated Defined Foreign gain (loss) on other benefit currency marketable comprehensive ($ in thousands) pension plan translation securities loss Balance at August 31, 2021 $ ( 2,843 ) $ ( 15,085 ) $ ( 5 ) $ ( 17,933 ) Current period change 566 ( 3,839 ) ( 267 ) ( 3,540 ) Balance at August 31, 2022 ( 2,277 ) ( 18,924 ) ( 272 ) ( 21,473 ) Current period change 306 ( 24 ) 181 463 Balance at August 31, 2023 $ ( 1,971 ) $ ( 18,948 ) $ ( 91 ) $ ( 21,010 )

Income Taxes

Income Taxes	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 – Income Taxes For financial reporting purposes earnings before income taxes include the following components: For the years ended August 31, ($ in thousands) 2023 2022 2021 United States $ 40,066 $ 34,465 $ 28,605 Foreign 60,309 53,403 21,781 $ 100,375 $ 87,868 $ 50,386 Significant components of the income tax provision are as follows: For the years ended August 31, ($ in thousands) 2023 2022 2021 Current: Federal $ 8,119 $ 5,678 $ 2,432 State 1,690 1,310 733 Foreign 18,187 17,474 2,738 Total current 27,996 24,462 5,903 Deferred: Federal ( 684 ) 244 2,251 State ( 76 ) 34 281 Foreign 760 ( 2,341 ) ( 621 ) Total deferred — ( 2,063 ) 1,911 Total income tax provision $ 27,996 $ 22,399 $ 7,814 Total income tax provision resulted in effective tax rates differing from that of the statutory United States federal income tax rates. The reasons for these differences are: For the years ended August 31, 2023 2022 2021 ($ in thousands) Amount % Amount % Amount % U.S. statutory rate $ 21,079 21.0 $ 18,452 21.0 $ 10,581 21.0 State and local taxes, net of federal tax benefit 1,259 1.3 1,069 1.2 859 1.7 Foreign tax rate differences 6,017 6.0 3,318 3.8 ( 390 ) ( 0.8 ) U.S. tax reform ( 103 ) ( 0.1 ) 313 0.4 339 0.7 Deferred tax asset valuation allowance ( 610 ) ( 0.6 ) — — ( 2,169 ) ( 4.3 ) Federal credits ( 445 ) ( 0.4 ) ( 444 ) ( 0.6 ) ( 629 ) ( 1.2 ) Uncertain tax benefits ( 84 ) ( 0.1 ) ( 369 ) ( 0.4 ) ( 622 ) ( 1.2 ) Capital gains 529 0.5 — — — — Other 354 0.3 60 0.1 ( 155 ) ( 0.3 ) Effective rate $ 27,996 27.9 $ 22,399 25.5 $ 7,814 15.5 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows: August 31, ($ in thousands) 2023 2022 Deferred tax assets: Accrued expenses $ 11,467 $ 12,569 Warranty 3,433 3,336 Defined benefit pension plan 1,253 1,391 Inventory 2,749 2,544 Share-based compensation 1,722 1,474 Vacation 935 773 Net operating loss and capital loss carry forwards 189 1,208 Deferred revenue 1,379 1,422 Allowance for doubtful accounts 1,338 1,122 Lease liabilities 3,656 3,868 Capitalized research and development expenditures 2,009 — Other 1,490 878 Gross deferred tax assets 31,620 30,585 Valuation allowance ( 491 ) ( 1,203 ) Net deferred tax assets $ 31,129 $ 29,382 Deferred tax liabilities: Intangible assets $ ( 5,085 ) $ ( 5,389 ) Property, plant, and equipment ( 12,718 ) ( 11,441 ) Lease assets ( 2,844 ) ( 2,999 ) Derivative contract ( 286 ) ( 1,294 ) Total deferred tax liabilities $ ( 20,933 ) $ ( 21,123 ) Net deferred tax assets $ 10,196 $ 8,259 In assessing the ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The discrete items recorded in both fiscal 2023 and 2022 were not significant. As of August 31, 2023, the Company had a valuation allowance of $ 0.5 million related to deferred tax assets in a jurisdiction where the Company does not expect to realize the deferred benefit. The Company also had recorded a valuation allowance o f $ 0.8 m illion as of August 31, 2022 related to capital losses from business divestitures where the Company believes it is more likely than not that the benefit from the capital loss will not be realized. The remaining valuation allowance related to deferred tax assets in a certain foreign tax jurisdiction not subject to tax due to a free trade zone exemption. The Company does not intend to, and has not historically, repatriated earnings of its foreign subsidiaries. Thus, the Company has not provided a deferred income tax liability on these undistributed earnings that are indefinitely reinvested. The Company would recognize a deferred income tax liability if the Company were to determine that such earnings were no longer indefinitely reinvested. There are other taxes that may be incurred if the Company would repatriate earnings of its foreign subsidiaries. It is not practicable to estimate the amount of income taxes that would be incurred if the Company would repatriate earnings of its foreign subsidiaries. The Company recognizes tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. Unrecognized tax benefits are tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. A reconciliation of changes in unrecognized tax benefits is as follows: August 31, ($ in thousands) 2023 2022 Unrecognized tax benefits at beginning of the year $ 574 $ 724 Increases for positions taken in current year 33 158 Decreases for positions taken in prior years ( 15 ) — Reduction resulting from lapse of applicable ( 144 ) ( 308 ) Decreases for settlements with tax authorities ( 48 ) — Unrecognized tax benefits at end of the year $ 400 $ 574 The net amount of unrecognized tax benefits at August 31, 2023 and 2022 that, if recognized, would impact the Company’s effective tax rate was $ 0.3 million and $ 0.5 million, respectively. The Company recognized $ 0.2 million and $ 0.4 million of interest and penalties recognized in the consolidated statement of earnings for the years ended August 31, 2023 and 2022, respectively. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. Total accrued liabilities for interest and penalties included in the unrecognized tax benefits liability were $ 0.3 million and $ 0.4 million for each of the years ended August 31, 2023 and 2022, respectively. While it is expected that the amount of unrecognized tax benefits will change in the next twelve months as a result of the expiration of statutes of limitations, the Company does not expect this change to have a significant impact on its results of operations or financial position. The Company files income tax returns in the United States and various state and foreign jurisdictions. The Company is no longer subject to income tax examination by US federal and most state tax authorities for tax years prior to fiscal 2020. Other major jurisdictions where we conduct business generally have statutes of limitations ranging from three to six years .

Inventories

Inventories	12 Months Ended
	Aug. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Note 8 - Inventories August 31, ($ in thousands) 2023 2022 Raw materials and supplies $ 83,908 $ 93,469 Work in process 7,820 12,603 Finished goods and purchased parts 86,793 110,022 Total inventory value before LIFO adjustment 178,521 216,094 Less adjustment to LIFO value ( 22,589 ) ( 22,318 ) Inventories, net $ 155,932 $ 193,776 Of the $ 178.5 million and $ 216.1 million of inventories at August 31, 2023, and 2022 , respectively, $64 .8 million and $ 77.8 million, respectively was valued on the last-in, first-out ("LIFO") basis, and $ 113.8 million and $ 138.3 million, respectively was valued on first-in, first-out ("FIFO") or average cost methods. In fiscal 2023, the Company recorded a $ 1.2 million decrease to its cost of goods sold, or $ 0.11 per diluted share, related to the liquidation of LIFO inventory quantities.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Aug. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 9 – Property, Plant, and Equipment August 31, ($ in thousands) 2023 2022 Operating property, plant, and equipment: Land $ 6,144 $ 5,997 Buildings 57,606 51,014 Machinery and equipment 99,466 93,558 Furniture and fixtures 8,807 7,994 Computer hardware and software 26,684 25,948 Construction in progress 8,238 10,207 Total operating property, plant, and equipment 206,945 194,718 Accumulated depreciation ( 130,923 ) ( 120,816 ) Total operating property, plant, and equipment, net 76,022 73,902 Property held for lease: Machines 16,398 16,359 Barriers 34,398 29,904 Total property held for lease 50,796 46,263 Accumulated depreciation ( 27,137 ) ( 25,693 ) Total property held for lease, net 23,659 20,570 Property, plant, and equipment, net $ 99,681 $ 94,472 Depreciation expense was $ 13.9 million, $ 13.5 million, and $ 12.7 million for fiscal 2023, 2022, and 2021 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 10 – Goodwill and Other Intangible Assets The carrying amount of goodwill by reportable segment for the year ended August 31, 2023 and August 31, 2022 is as follows: ($ in thousands) Irrigation Infrastructure Total Balance as of August 31, 2021 $ 51,811 $ 16,157 $ 67,968 Foreign currency translation ( 64 ) ( 774 ) ( 838 ) Balance as of August 31, 2022 51,747 15,383 67,130 Acquisition of FieldWise 15,589 — 15,589 Foreign currency translation 35 367 402 Balance as of August 31, 2023 $ 67,371 $ 15,750 $ 83,121 The components of the Company’s identifiable intangible assets and their weighted average remaining life at August 31, 2023 and 2022 are included in the table below. August 31, 2023 2022 Weighted Gross Weighted Gross average carrying Accumulated average carrying Accumulated ($ in thousands) years amount amortization years amount amortization Definite lived intangible assets: Patents and developed technology 3.1 $ 28,658 $ ( 24,402 ) 3.3 $ 26,329 $ ( 24,106 ) Customer relationships 6.8 26,030 ( 14,506 ) 2.1 17,401 ( 12,578 ) Indefinite lived intangible assets: Tradenames N/A 11,939 — N/A 11,162 — Total 5.7 $ 66,627 $ ( 38,908 ) 2.7 $ 54,892 $ ( 36,684 ) Amortization expense for amortizable intangible assets was $ 2.0 million, $ 2.0 million, and $ 2.2 million for fiscal 2023, 2022, and 2021, respectively. Future estimated amortization of intangible assets for the next five years is as follows: Fiscal years $ in thousands 2024 $ 2,881 2025 2,089 2026 1,456 2027 1,456 2028 1,421 Thereafter 6,477 $ 15,780 The Company updated its impairment evaluation of goodwill and intangible assets with indefinite lives at August 31, 2023 . No impairment losses were indicated as a result of the annual impairment testing for fiscal 2023, 2022 and 2021 .

Other Current Liabilities

Other Current Liabilities	12 Months Ended
	Aug. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 11 – Other Current Liabilities August 31, ($ in thousands) 2023 2022 Other current liabilities: Compensation and benefits $ 24,957 $ 23,148 Contract liabilities 18,800 29,494 Warranties 14,535 14,080 Dealer related liabilities 9,629 8,396 Tax related liabilities 9,187 7,820 Operating lease liabilities 3,028 3,159 Deferred revenue - lease 2,830 1,064 Accrued environmental liabilities 1,287 4,179 Accrued insurance 1,163 1,193 Other 6,188 8,151 Total other current liabilities $ 91,604 $ 100,684

Credit Arrangements

Credit Arrangements	12 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
Credit Arrangements	Note 12 – Credit Arrangements Senior Notes . The Company has outstanding $ 115.0 million in aggregate principal amount of unsecured Senior Notes, Series A (the “Senior Notes”). The entire principal of the Senior Notes is due and payable on February 19, 2030 . Interest on the Senior Notes is payable semi-annually at a fixed annual rate of 3.82 percent and borrowings under the Senior Notes are unsecured. The Company used the proceeds of the sale of the Senior Notes for general corporate purposes, including acquisitions and dividends. Revolving Credit Facility . The Company has outstanding a $ 50.0 million unsecured Amended and Restated Revolving Credit Facility (the “Revolving Credit Facility”) with Wells Fargo Bank, National Association (“Wells Fargo”) expiring August 26, 2026 . The Company intends to use borrowings under the Revolving Credit Facility for working capital purposes and to fund future acquisitions. At August 31, 2023 and 2022 , the Company had no outstanding borrowings under the Revolving Credit Facility. The amount of borrowings available at any time under the Revolving Credit Facility is reduced by the amount of standby letters of credit issued by Wells Fargo then outstanding. At August 31, 2023 , the Company had the ability to borrow up to $ 50.0 million under the Revolving Credit Facility. The Revolving Credit Facility may be increased by up to an additional $ 50.0 million at any time, subject to additional commitment approval. The Revolving Credit Facility was amended in 2021, which changed the benchmark rate from the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”). Borrowings under the Revolving Credit Facility bear interest at a variable rate equal to the SOFR plus a margin of between 100 and 210 basis points depending on the Company’s leverage ratio then in effect (which resulted in a variable rate of 6.66 percent at August 31, 2023 ), subject to adjustment as set forth in the loan documents for the Revolving Credit Facility. Interest is paid on a monthly to quarterly basis depending on loan type. The Company currently pays an annual commitment fee on the unused portion of the Revolving Credit Facility. The fee is between 0.125 percent and 0.2 percent ( 0.125 percent at August 31, 2023) on the unused balance depending on the Company’s leverage ratio then in effect. Borrowings under the Revolving Credit Facility have equal priority with borrowings under the Company’s Senior Notes. Each of the credit arrangements described above include certain covenants relating primarily to the Company’s financial condition. These financial covenants include a funded debt to EBITDA leverage ratio and an interest coverage ratio. In the event that the loan documents for the Revolving Credit Facility were to require the Company to comply with any financial covenant that is not already included or is more restrictive than what is already included in the arrangement governing the Senior Notes, then such covenant shall be deemed incorporated by reference into the Senior Notes for the benefit of the holders of the Senior Notes. Upon the occurrence of any event of default of these covenants, including a change in control of the Company, all amounts outstanding thereunder may be declared to be immediately due and payable. At August 31, 2023 and 2022, the Company was in compliance with all financial loan covenants contained in its credit arrangements in place as of each of those dates. Series 2006A Bonds . Elecsys International, LLC, a wholly owned subsidiary of the Company, has outstanding $ 0.7 million in principal amount of industrial revenue bonds that were issued in 2006 (the “Series 2006A Bonds”). Principal and interest on the Series 2006A Bonds are payable monthly through maturity on September 1, 2026 . The interest rate is adjustable every five years based on the yield of the 5-year United States Treasury Notes, plus 0.45 percent ( 1.72 percent as of August 31, 2023 through maturity). The obligations under the Series 2006A Bonds are secured by a first priority security interest in certain real estate. Long-term debt consists of the following: August 31, ($ in thousands) 2023 2022 Series A Senior Notes $ 115,000 $ 115,000 Elecsys Series 2006A Bonds 710 931 Total debt 115,710 115,931 Less current portion ( 226 ) ( 222 ) Less debt issuance costs ( 320 ) ( 368 ) Total long-term debt $ 115,164 $ 115,341 Principal payments due on the debt are as follows: Due within $ in thousands 1 year $ 226 2 years 230 3 years 235 4 years 19 Thereafter 115,000 $ 115,710

Leases

Leases	12 Months Ended
	Aug. 31, 2023
Leases [Abstract]
Leases	Note 13 – Leases The Company, as lessee, has operating leases primarily for office space, manufacturing facilities, equipment, and vehicles. The Company determines if a contract is or contains a lease at the inception of the contract based on whether the contract conveys the right to control the use of an identified asset over a period of time in exchange for consideration. The Company considers disclosures related to its transactions as a lessor to not be material and has omitted such disclosures. The Company elected, for all classes of underlying assets, to not separate lease and non-lease components and instead will treat the lease agreement as a single lease component for all asset classes. Short-term operating leases, which have an initial expected term of twelve months or less, are not recorded on the consolidated balance sheet. Such fixed lease payments are recognized within the consolidated statement of earnings on a straight-line basis over the lease term. Any variable payments associated with short-term operating leases are recognized within the consolidated statement of earnings as they are incurred. The Company did no t recognize any expense for such leases during the twelve months ended August 31, 2023 and 2022. Many of the Company’s leases contain renewal or extension options. The Company includes all renewal or extension periods that it is reasonably certain to exercise at lease commencement within the measurement of the ROU asset and lease liability. The Company’s lease portfolio consists of operating leases which are included in operating lease ROU assets and operating lease liabilities in the consolidated balance sheet. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. To calculate the present value of future lease payments, the Company uses an incremental borrowing rate that estimates a collateralized rate based on the expected term of the lease. Lease cost and other information related to the Company’s operating leases are as follows: August 31, ($ in thousands) 2023 2022 Operating lease cost (cost resulting from lease payments) $ 4,114 $ 5,573 Variable lease cost (cost excluded from lease payments) 536 552 Total lease cost $ 4,650 $ 6,125 Operating cash outflows from operating leases $ 4,205 $ 5,198 Weighted average lease term - operating leases 8.3 years 9.0 years Weighted average discount rate - operating leases 3.5 % 3.3 % Supplemental balance sheet information related to operating leases are as follows: August 31, ($ in thousands) Classification 2023 2022 Operating lease ROU assets Operating lease right-of-use assets $ 17,036 $ 19,181 Operating lease short-term liabilities Other current liabilities 3,028 3,159 Operating lease long-term liabilities Operating lease liabilities 17,689 19,810 Total lease liabilities $ 20,717 $ 22,969 The minimum lease payments under operating leases expiring subsequent to August 31, 2023 are as follows: Fiscal year ending $ in thousands 2024 $ 3,715 2025 3,395 2026 3,086 2027 2,660 2028 1,913 Thereafter 9,397 Total lease payments 24,166 Less: interest 3,449 Present value of lease liabilities $ 20,717

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14 – Fair Value Measurements The following table presents the Company’s financial assets and liabilities measured at fair value, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of August 31, 2023 and 2022, respectively: August 31, 2023 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 160,755 $ — $ — $ 160,755 Marketable securities: Corporate bonds — 4,095 — 4,095 U.S. treasury securities — 1,461 — 1,461 Derivative asset — 1,672 — 1,672 Derivative liability — ( 457 ) — ( 457 ) August 31, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 105,048 $ — $ — $ 105,048 Marketable securities: Corporate bonds — 9,668 — 9,668 U.S. treasury securities — 1,792 — 1,792 Derivative asset — 5,505 — 5,505 The carrying value of long-term debt (including current portion) was $ 115.7 million and $ 115.9 million at August 31, 2023 and 2022 , respectively. The fair value of this debt was estimated to be $ 102.0 million and $ 103.6 million as of August 31, 2023 and 2022, respectively, based on current market rates as of the respective year-ends. The Company enters into derivative instrument agreements, to manage risk in connection with changes in foreign currency. The Company only enters into derivative instrument agreements with counterparties who have highly rated credit and does not enter into derivative instrument agreements for trading or speculative purposes. The fair values are based on inputs other than quoted prices that are observable for the asset or liability and are determined by standard calculations and models that use readily observable market parameters. These inputs include foreign currency exchange rates and interest rates. Industry standard data providers are the primary source for forward and spot rate information for both interest rates and foreign currency exchange rates. On June 12, 2023, the Company entered into a fixed-to-fixed cross currency swap with a notional amount of $ 25.0 million, or € 23.3 million, that is set to mature on June 12, 2026 . The Company elected the spot method for designating this contract as a net investment hedge. The decrease in fair value of this contract during the period was $ 0.3 million, which is net of tax impact of $ 0.1 million, and is reported in accumulated other comprehensive loss on the condensed consolidated balance sheets. The fair value of this contract as of August 31, 2023, is disclosed in the table above, and is recorded within other noncurrent assets on the consolidated balance sheets. On March 28, 2022, the Company entered into a fixed-to-fixed cross currency swap with a notional amount of $ 50.0 million, or € 45.6 million, that is set to mature on March 30, 2027 . The Company elected the spot method for designating this contract as a net investment hedge. The decrease in fair value of this contract during the period was $ 2.9 million, which is net of tax impact of $ 0.9 million, and is reported in accumulated other comprehensive loss on the consolidated balance sheets. The fair value of this contract as of August 31, 2023, is disclosed in the table above, and is recorded within other noncurrent assets on the consolidated balance sheets. During fiscal 2023, the Company settled foreign currency forward contracts resulting in a net loss of $ 0.1 million which were recorded in the consolidated statements of earnings. At August 31, 2023 the Company had an outstanding foreign currency forward contract to sell a notional amount of 225.3 million South African rand at fixed prices to settle during the next fiscal quarter. The Company’s foreign currency forward contracts do not qualify as hedges of a net investment in foreign operations.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 – Commitments and Contingencies In the ordinary course of its business operations, the Company enters into arrangements that obligate it to make future payments under contracts such as lease agreements. Additionally, the Company is involved, from time to time, in commercial litigation, employment disputes, administrative proceedings, business disputes and other legal proceedings. The Company has established accruals for certain proceedings based on an assessment of probability of loss. The Company believes that any such currently-pending proceedings are either covered by insurance or would not have a material effect on the business or its consolidated financial statements if decided in a manner that is unfavorable to the Company. Such proceedings are exclusive of environmental remediation matters which are discussed separately below. Infrastructure Products Litigation The Company is currently defending a number of product liability lawsuits arising out of vehicle collisions with highway barriers incorporating the Company’s X-Lite ® end terminal. Despite the September 2018 reversal of a sizable judgment against a competitor, the Company expects that the significant attention brought to the infrastructure products industry by the original judgment may lead to additional lawsuits being filed against the Company and others in the industry. The Company, certain of its subsidiaries, and certain third parties which originally designed the X-Lite end terminal have also been named in a lawsuit filed on June 9, 2020 in the Circuit Court of Cole County, Missouri by Missouri Highways and Transportation Commission (“MHTC”). MHTC alleges, among other things, that the X-Lite end terminal was defectively designed and failed to perform as designed, intended, and advertised, leading to MHTC’s removal and replacement of X-Lite end terminals from Missouri’s roadways. MHTC alleges strict liability (defective design and failure to warn), negligence, breach of express warranties, breach of implied warranties (merchantability and fitness for a particular purpose), fraud, and public nuisance. MHTC seeks compensatory damages, interest, attorneys’ fees, and punitive damages. The Company believes it has meritorious factual and legal defenses to each of the lawsuits discussed above and is prepared to vigorously defend its interests. Based on the information currently available to the Company, the Company does not believe that a loss is probable in any of these lawsuits; therefore, no accrual has been included in the Company’s consolidated financial statements. While it is reasonably possible that a loss may be incurred, the Company is unable to estimate a range of potential loss due to the complexity and current status of these lawsuits. However, the Company maintains insurance coverage to mitigate the impact of adverse exposures in these lawsuits and does not expect that these lawsuits will have a material adverse effect on its business or its consolidated financial statements. In June 2019, the Company was informed by letter that the Department of Justice, Civil Division and U.S. Attorney’s Office for the Northern District of New York, with the assistance of the Department of Transportation, Office of Inspector General, are conducting an investigation of the Company relating to the Company’s X-Lite end terminal and potential violations of the federal civil False Claims Act. Depending on the outcome of this matter, there could be a material adverse effect on the Company’s business or its consolidated financial statements. Given the current posture of the matter, the Company is unable to estimate a range of potential loss, if any, or to express an opinion regarding the ultimate outcome. Environmental Remediation In previous years, the Company committed to a plan to remediate environmental contamination of the groundwater at and adjacent to its Lindsay, Nebraska facility (the “site”). The current estimated aggregate accrued cost of $ 11.5 million is based on consideration of remediation options which the Company believes could be successful in meeting the long-term regulatory requirements of the site. The Company submitted a revised remedial alternatives evaluation report to the Environmental Protection Agency (“EPA”) and the Nebraska Department of Environment and Energy (the “NDEE”) in August 2020 to review remediation alternatives and proposed plans for the site. While the proposed remediation plan is preliminary and has not been approved by the EPA or the NDEE, they have approved an in situ thermal remediation pilot study that was conducted by the Company at a specific location on the site. The Company commenced implementation of the pilot program in the second half of calendar 2022 and completed the pilot program in the fourth quarter of fiscal 2023. A final report is expected to be submitted to the EPA and NDEE by the end of calendar 2023. Of the total liability as of both August 31, 2023 and 2022 , $ 8.1 million and $ 11.0 million, respectively, was calculated on a discounted basis using a discount rate of 1.2 %, which represents a risk-free rate. This discounted portion of the liability amounts to $ 9.1 million and $ 12.4 million on an undiscounted basis at August 31, 2023 and 2022, respectively. The Company accrues the anticipated cost of investigation and remediation when the obligation is probable and can be reasonably estimated. While the plan has not been formally approved by the EPA, the Company believes the current accrual is a good faith estimate of the long-term cost of remediation at this site; however, the estimate of costs and their timing could change as a result of a number of factors, including but not limited to (1) EPA input on the proposed remediation plan and any changes which the EPA may subsequently require, (2) refinement of cost estimates and length of time required to complete remediation and post-remediation operations and maintenance, (3) effectiveness of the technology chosen in remediation of the site as well as changes in technology that may be available in the future, and (4) unforeseen circumstances existing at the site. As a result of these factors, the actual amount of costs incurred by the Company in connection with the remediation of contamination of its Lindsay, Nebraska site could exceed the amounts accrued for this expense at this time. While any revisions could be material to the operating results of any fiscal quarter or fiscal year, the Company does not expect such additional expenses would have a material adverse effect on its liquidity or financial condition. The following table summarizes the environmental remediation liability classifications included in the consolidated balance sheets as of August 31, 2023 and 2022: ($ in thousands) August 31, Balance sheet location 2023 2022 Other current liabilities $ 1,287 $ 4,179 Other noncurrent liabilities 10,175 10,967 Total environmental remediation liabilities $ 11,462 $ 15,146

Retirement Plans

Retirement Plans	12 Months Ended
	Aug. 31, 2023
Retirement Benefits [Abstract]
Retirement Plans	Note 16 – Retirement Plans The Company has defined contribution profit‑sharing plans covering substantially all of its full-time U.S. employees. Participants may voluntarily contribute a percentage of compensation, but not in excess of the maximum allowed under the Internal Revenue Code. The plans provide for a matching contribution by the Company. The Company’s total contributions charged to expense under the plans were $ 1.3 million, $ 1.2 million, and $ 1.3 million for the years ended August 31, 2023, 2022, and 2021, respectively. A supplementary non‑qualified, non‑funded retirement plan for five former executives is also maintained. Plan benefits are based on the executive’s average total compensation during the three highest compensation years of employment. This unfunded supplemental retirement plan is not subject to the minimum funding requirements of ERISA. While the plan is unfunded, the Company has purchased life insurance policies on certain former executives named in this supplemental retirement plan to provide funding for this liability. The cash surrender values of these insurance policies are recorded as other noncurrent assets. As of August 31, 2023 and 2022, the funded status of the supplemental retirement plan was recorded in the consolidated balance sheets. The Company utilizes an August 31 measurement date for plan obligations related to the supplemental retirement plan. As this is an unfunded retirement plan, the funded status is equal to the benefit obligation. The funded status of the plan and the net amount recognized in the accompanying balance sheets as of August 31 is as follows: August 31, ($ in thousands) 2023 2022 Change in benefit obligation: Benefit obligation at beginning of year $ 5,422 $ 6,284 Interest cost 211 156 Actuarial gain ( 191 ) ( 488 ) Benefits paid ( 530 ) ( 530 ) Benefit obligation at end of year $ 4,912 $ 5,422 Amounts recorded in the consolidated balance sheets for the pension benefit obligation consist of: August 31, ($ in thousands) 2023 2022 Other current liabilities $ 530 $ 530 Other non-current liabilities 4,382 4,892 Net amount recognized $ 4,912 $ 5,422 The before-tax amounts recognized in accumulated other comprehensive loss consists of: August 31, ($ in thousands) 2023 2022 Net actuarial loss $ ( 2,591 ) $ ( 2,993 ) For the years ended August 31, 2023 and 2022 , the Company assumed a discount rate of 5.0 percent and 4.1 percent, respectively, for the determination of the liability. The assumptions used to determine benefit obligations and costs are selected based on current and expected market conditions. The discount rate is based on a hypothetical portfolio of long-term corporate bonds with cash flows approximating the timing of expected benefit payments. For the years ended August 31, 2023, 2022, and 2021 , the Company assumed a discount rate of 4.1 percent, 2.6 percent, and 2.2 percent, respectively, for the determination of the net periodic benefit cost. The components of the net periodic benefit cost for the supplemental retirement plan recorded within other income (expense) on the consolidated statement of earnings are as follows: For the years ended August 31, ($ in thousands) 2023 2022 2021 Interest cost $ 211 $ 156 $ 146 Net amortization and deferral 211 255 269 Total $ 422 $ 411 $ 415 The estimated actuarial loss for the supplemental retirement plan that will be amortized, on a pre-tax basis, from accumulated other comprehensive loss into net periodic benefit cost during fiscal 2024 will b e $ 0.2 milli on. The Company’s future annual contributions to the supplemental retirement plan will be equal to expected net benefit payments since the plan is unfunded. The following net benefit payments are expected to be paid: Fiscal years $ in thousands 2024 $ 514 2025 503 2026 490 2027 477 2028 462 Thereafter 2,466 $ 4,912

Warranties

Warranties	12 Months Ended
	Aug. 31, 2023
Product Warranties Disclosures [Abstract]
Warranties	Note 17 - Warranties Product Warranties The Company generally warrants its products against certain manufacturing and other defects and estimates the amount of warranty accrual based on various factors, including historical warranty costs, current claim trends, and operating revenue. These product warranties are provided for specific periods and/or usage of the product. The accrued product warranty costs are for a combination of specifically identified items and other incurred, but not identified, items based primarily on historical experience of actual warranty claims. This reserve is classified within other current liabilities. The following tables provide the changes in the Company’s product warranties: For the years ended August 31, ($ in thousands) 2023 2022 Product warranty accrual balance, beginning of period $ 14,080 $ 12,736 Liabilities accrued for warranties during the period 10,911 10,931 Warranty claims paid during the period ( 10,456 ) ( 9,393 ) Changes in estimates — ( 194 ) Product warranty accrual balance, end of period $ 14,535 $ 14,080 Warranty costs were $ 10.9 million, $ 10.7 million, and $ 7.4 million for fiscal 2023, 2022, and 2021 , respectively.

Industry Segment Information

Industry Segment Information	12 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
Industry Segment Information	Note 18 – Industry Segment Information The Company manages its business activities in two reportable segments: Irrigation and Infrastructure. The accounting policies of the two reportable segments are the same as those described in Note 1, Description of Business and Significant Accounting Policies. The Company evaluates the performance of its reportable segments based on segment sales, gross profit, and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses, and income taxes. Operating income for segment purposes does include general and administrative expenses, selling expenses, engineering and research expenses and other overhead charges directly attributable to the segment. There are no inter-segment sales included in the amounts disclosed. Irrigation This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems and large diameter steel tubing, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design, and industrial internet of things, or "IIoT", solutions. The irrigation reporting segment consists of one operating segment. Infrastructure This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment. The infrastructure reporting segment consists of one operating segment. The Company has no single major customer representing ten percent or more of its total revenues during fiscal 2023, 2022, or 2021. Summarized financial information concerning the Company’s reportable segments is shown in the following tables: ($ in thousands) 2023 2022 2021 Operating revenues: Irrigation: North America $ 309,538 $ 355,683 $ 273,871 International 276,493 310,146 197,487 Irrigation total 586,031 665,829 471,358 Infrastructure 88,053 104,914 96,288 Total operating revenues $ 674,084 $ 770,743 $ 567,646 Operating income: Irrigation $ 121,969 $ 105,763 $ 63,181 Infrastructure 12,067 18,328 20,174 Corporate ( 31,852 ) ( 29,448 ) ( 29,248 ) Total operating income 102,184 94,643 54,107 Total other expense ( 1,809 ) ( 6,775 ) ( 3,721 ) Earnings before income taxes $ 100,375 $ 87,868 $ 50,386 Total capital expenditures: Irrigation $ 13,043 $ 10,679 $ 19,188 Infrastructure 5,287 3,798 6,866 Corporate 445 1,118 457 $ 18,775 $ 15,595 $ 26,511 Depreciation and amortization: Irrigation $ 12,834 $ 13,011 $ 12,245 Infrastructure 4,023 3,781 3,748 Corporate 2,425 3,386 3,183 $ 19,282 $ 20,178 $ 19,177 Summarized financial information concerning the Company’s geographical areas is shown in the following tables. For the years ended August 31, ($ in thousands) 2023 2022 2021 Revenues % of total Revenues % of total Revenues % of total United States $ 347,238 52 $ 394,080 51 $ 307,313 54 International 326,846 48 376,663 49 260,333 46 Total revenues $ 674,084 100 $ 770,743 100 $ 567,646 100 For the years ended August 31, ($ in thousands) 2023 2022 2021 Long-lived % of total Long-lived % of total Long-lived % of total United States $ 76,428 77 $ 70,643 75 $ 68,526 74 International 23,253 23 23,829 25 23,471 26 Total long-lived assets $ 99,681 100 $ 94,472 100 $ 91,997 100 Total assets by reportable segment are not disclosed because such information is not used by the Company to allocate resources or evaluate performance.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Aug. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 19 – Share-Based Compensation Share-Based Compensation Program Share-based compensation is designed to reward employees for their long-term contributions to the Company and provide incentives for them to remain with the Company. The number and frequency of share grants are based on competitive practices, operating results of the Company, and individual performance. As of August 31, 2023 , the Company’s share-based compensation plan was the 2015 Long-Term Incentive Plan (the “2015 Plan”). The 2015 Plan was approved by the shareholders of the Company, and became effective on January 26, 2015 , and replaced the Company’s 2010 Long Term Incentive Plan. At August 31, 2023, the Company had share-based awards outstanding under the 2015 Plan. The 2015 Plan provides for awards of stock options, restricted shares, restricted stock units, stock appreciation rights, performance shares and performance stock units to employees and non-employee directors of the Company. The maximum number of shares as to which stock awards may be granted under the 2015 Plan is 626,968 shares, exclusive of any forfeitures from the 2010 Long-Term Incentive Plan. At August 31, 2023, 217,146 shares of common stock (including forfeitures from prior plans) remained available for issuance under the 2015 Plan. All stock awards will be counted against the 2015 Plan in a 1 to 1 ratio. The 2015 Plan also limits the total awards that may be made to any individual. Share-Based Compensation Information The following table summarizes share-based compensation expense for fiscal 2023, 2022, and 2021: For the years ended August 31, ($ in thousands) 2023 2022 2021 Share-based compensation expense included in cost of $ 183 $ 257 $ 258 Engineering and research 232 210 202 Selling 632 577 544 General and administrative 5,651 4,637 5,524 Share-based compensation expense included in 6,515 5,424 6,270 Total share-based compensation expense 6,698 5,681 6,528 Tax benefit ( 1,574 ) ( 1,335 ) ( 1,534 ) Share-based compensation expense, net of tax $ 5,124 $ 4,346 $ 4,994 As of August 31, 2023, there was $ 8.2 million pre-tax of total unrecognized compensation cost related to non-vested share-based compensation arrangements which is expected to be recognized over a weighted average period of 1.8 years. Stock Options – Stock option awards have an exercise price equal to the closing price on the date of grant, expire no later than ten years from the date of grant and vest evenly over a three or four year period. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The table below shows the annual weighted average assumptions used for valuation purposes. Grant year Fiscal 2023 Fiscal 2022 Fiscal 2021 Risk-free interest rate 4.4 % 1.2 % 0.5 % Dividend yield 0.9 % 0.9 % 1.1 % Expected life (years) 5 5 6 Volatility 35.7 % 33.8 % 32.8 % Weighted average grant-date fair value of options granted $ 55.53 $ 41.80 $ 31.38 The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant; the dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of grant; the expected life is based on historical and expected exercise behavior; and volatility is based on the historical volatility of the Company’s stock price over the expected life of the option. The following table summarizes stock option activity for fiscal 2023: Number of Average Average Aggregate Stock options outstanding at August 31, 2022 97,140 $ 106.80 7.0 $ 5,203 Granted 21,743 156.16 Exercised ( 413 ) 76.37 23 Forfeited/cancelled — — — Stock options outstanding at August 31, 2023 118,470 $ 115.96 6.6 $ 2,139 Stock options exercisable at August 31, 2023 76,143 $ 99.05 5.5 $ 2,072 There were 19,617 , 47,222 , and 38,954 outstanding stock options that vested during fiscal 2023, 2022, and 2021 , respectively. Additional information regarding stock option exercises is summarized in the table below. For the years ended August 31, ($ in thousands) 2023 2022 2021 Intrinsic value of stock options exercised $ 23 $ 1,737 $ 2,125 Cash received from stock option exercises $ 32 $ 2,894 $ 3,965 Tax benefit realized from stock option exercises $ 1 $ 140 $ 499 Weighted average grant-date fair value of stock options vested $ 40.66 $ 34.19 $ 25.95 Restricted stock units – The restricted stock units have a grant-date fair value equal to the fair market value of the underlying stock on the grant date less present value of expected dividends. The restricted stock units granted to employees vest over a three year period at approximately 33 percent per year. The restricted stock units granted to non-employee directors generally vest over a nine month period. The following table summarizes restricted stock unit activity for fiscal 2023: Number of Weighted Restricted stock units outstanding at August 31, 2022 44,251 $ 126.50 Granted 24,123 151.38 Vested ( 24,342 ) 122.06 Forfeited / Cancelled ( 2,460 ) 140.26 Restricted stock units outstanding at August 31, 2023 41,572 $ 108.54 Restricted stock units are generally settled with the issuance of shares with the exception of certain restricted stock units awarded to internationally-based employees that are settled in cash. At August 31, 2023, 2022, and 2021, outstanding restricted stock units included 4,039 , 4,412 , and 4,656 units, respectively, that will be settled in cash. The fair value of restricted stock units that vested during the period was $ 3.7 million and $ 4.1 million for each of the years ended August 31, 2023 and 2022 , respectively. Share issuances are presented net of share repurchases to cover payroll taxes of $ 2.5 million, $ 1.2 million, and $ 1.3 million for each of the years ended August 31, 2023, 2022, and 2021, respectively. Performance stock units – The performance stock units have a grant-date fair value equal to the fair market value of the underlying stock on the grant date less present value of expected dividends. The performance stock units granted to employees cliff vest after a three year period and a specified number of shares of common stock will be awarded under the terms of the performance stock units, if performance measures relating to revenue growth and a return on net assets are achieved. The table below summarizes performance stock unit activity for fiscal 2023: Number of Weighted Performance stock units outstanding at August 31, 2022 32,358 $ 127.78 Granted 14,496 173.17 Vested ( 9,344 ) 102.28 Forfeited / cancelled — — Performance stock units outstanding at August 31, 2023 37,510 $ 151.67 Performance stock units outstanding as of August 31, 2023 and issued during fiscal 2023, 2022, and 2021 include performance goals based on a return on invested capital and total shareholder return ("TSR") relative to the Company’s peers during the performance period. The awards actually earned will range from zero to two hundred percent of the targeted number of performance stock units and will be paid in shares of common stock. Shares earned will be distributed upon vesting on the first day of November following the end of the three-year performance period. For the return on invested capital portion of the award, the Company is accruing compensation expense based on the estimated number of shares expected to be issued utilizing the most current information available to the Company at the date of the financial statements. For the TSR portion of the award, compensation expense is recorded ratably over the three-year term of the award based on the estimated grant date fair value. In fiscal 2023 and 2022 performance stock units that vested represented 18,688 and 18,998 , respectively, actual shares of common stock issued. In fiscal 2021 , no shares were issued related to performance stock units. The fair value of the TSR portion of the awards granted in fiscal 2023, 2022, and 2021 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions: Grant year Fiscal 2023 Fiscal 2022 Fiscal 2021 Expected term (years) 3 3 3 Risk-free interest rate 4.5 % 0.7 % 0.2 % Volatility 38.6 % 39.1 % 38.6 % Dividend yield 0.9 % 0.9 % 1.2 %

Share Repurchases

Share Repurchases	12 Months Ended
	Aug. 31, 2023
Equity [Abstract]
Share Repurchases	Note 20 – Share Repurchases The Company’s Board of Directors authorized a share repurchase program of up to $ 250.0 million of common stock with no expiration date. Under the program, shares may be repurchased in privately negotiated and/or open market transactions as well as under formalized trading plans in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. There were no shares repurchased during the twelve months ended August 31, 2023, 2022, and 2021 . The remaining amount available under the repurchase program was $ 63.7 million as of August 31, 2023.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Aug. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	(a)(2) Financial Statement Schedules. Lindsay Corporation and Subsidiaries VALUATION AND QUA LIFYING ACCOUNTS Years ended August 31, 2023, 2022, and 2021 Additions (in thousands) Balance at Charges to Charged to Deductions Balance Year ended August 31, 2023: Deducted in the balance sheet from the assets to which they apply: Allowance for doubtful accounts (1) $ 4,118 881 — ( 49 ) $ 5,048 Deferred tax asset valuation allowance (2) 1,203 — — ( 712 ) 491 Year ended August 31, 2022: Deducted in the balance sheet from the assets to which they apply: Allowance for doubtful accounts (1) $ 3,422 903 — 207 $ 4,118 Deferred tax asset valuation allowance (2) 1,091 — 112 — 1,203 Year ended August 31, 2021: Deducted in the balance sheet from the assets to which they apply: Allowance for doubtful accounts (1) $ 2,780 771 — 129 $ 3,422 Deferred tax asset valuation allowance (2) 3,218 206 — 2,333 1,091 (1) Deductions consist of uncollectible items reserved, less recoveries of items previously reserved. (2) Additions and deductions consist of changes to deferred tax assets not expected to be realized.

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Irrigation Segment	Irrigation Segment The Company’s irrigation segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems which are used principally in the agricultural industry to increase or stabilize crop production while conserving water, energy and labor. The irrigation segment also manufactures and markets repair and replacement parts for its irrigation systems and controls. The Company continues to strengthen irrigation product offerings through innovative technology such as Global Positioning System (“GPS”) positioning and guidance, variable rate irrigation, wireless irrigation management, machine-to-machine (“M2M”) communication technology solutions and mobile device applications. The Company’s domestic irrigation manufacturing facilities are located in Lindsay, Nebraska and Olathe, Kansas. Internationally, the Company has production operations in Brazil, France, China, Türkiye (formerly Turkey) and South Africa as well as distribution and sales operations in the Netherlands, Egypt, Australia and New Zealand. The Company also exports equipment from the U.S. to other international markets.
Infrastructure Segment	Infrastructure Segment The Company’s infrastructure segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, and railroad signals and structures. The principal infrastructure manufacturing facilities are located in Rio Vista, California; Milan, Italy; and Lindsay, Nebraska. Notes to the consolidated financial statements describe various elements of the financial statements and the accounting policies, estimates, and assumptions applied by management. While actual results could differ from those estimated at the time of preparation of the consolidated financial statements, management believes that the accounting policies, assumptions, and estimates applied promote the representational faithfulness, verifiability, neutrality, and transparency of the accounting information included in the consolidated financial statements. The significant accounting policies of the Company are as follows:
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled for exchange of those goods or services. Refer to Note 3 for additional information regarding our revenue recognition policy under ASC 606.
Share-Based Compensation	Share-Based Compensation The Company recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values on the date of grant. The Company uses the straight-line amortization method over the vesting period of the awards and records forfeitures as they occur.. The Company has historically issued shares upon exercise of stock options or vesting of restricted stock units or performance stock units. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the Company’s consolidated statement of earnings over the periods during which the employee or director is required to perform a service in exchange for the award. The Company uses the Black-Scholes option-pricing model (“Black-Scholes model”) as its valuation method for stock option awards. Under the Black-Scholes model, the fair value of stock option awards on the date of grant is estimated using an option-pricing model that is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behaviors. Restricted stock, restricted stock units, and the performance-based portion of performance stock units issued under the 2015 Long-Term Incentive Plan will have a grant-date fair value equal to the fair market value of the underlying stock on the grant date less present value of expected dividends. The portion of performance stock units based on market-based metrics will have a grant-date fair value calculated through a Monte Carlo simulation model using a number of inputs. The inputs to the Company’s Monte Carlo valuation model are summarized in Note 19 – Share-Based Compensation.
Warranty Costs	Warranty Costs The Company’s provision for product warranty reflects management’s best estimate of probable liability under its product warranties. At the time a sale is recognized, the Company records the estimated future warranty costs. The Company generally determines its total future warranty liability by applying historical claims rate experience to the amount of equipment that has been sold and is still within the warranty period. In addition, the Company records provisions for known warranty claims and adjusts for current trends, if applicable. This provision is periodically adjusted to reflect actual experience.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with original maturities of three months or less.
Marketable Securities	Marketable Securities The Company accounts for and classifies its marketable securities in accordance with the accounting guidance related to the accounting and classification of certain investments in marketable securities. The determination on appropriate classification is based primarily on management’s ability and intent to sell the debt security. The Company’s investment in marketable securities consists of United States treasury bonds and investment grade corporate bonds. The marketable securities are classified as available-for-sale and are carried at fair value with the change in unrealized gains and losses reported as a separate component on the consolidated statements of comprehensive income until realized. The Company determines fair value using data points that are observable, such as quoted prices and interest rates. Investment income is recorded within interest income on the consolidated statements of earnings. As of August 31, 2023 , approximately 96 % of the Company’s marketable securities investments mature within one year and 4 % mature within one to two years.
Receivables, net	Receivables, net Trade receivables are reported on the balance sheet net of an allowance for expected credit losses. The allowance for expected credit losses is based on a number of factors, including the aging of outstanding receivables and historical losses. In addition, the Company incorporates current economic conditions and customer specific circumstances and details in its estimate for expected credit losses. Receivables are written off against the allowance when the receivable is deemed uncollectible and all collection efforts have been completed. The Company’s allowance for all expected credit losses related to outstanding receivables increased to $ 5.0 million at August 31, 2023 from $ 4.1 million at August 31, 2022 . The Company’s evaluation of the adequacy of the allowance for credit losses is based on facts and circumstances available to the Company at the date the consolidated financial statements are issued and considers any significant changes in circumstances occurring through the date that the financial statements are issued.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the last‑in, first‑out (“LIFO”) method, the first-in, first-out (“FIFO”) method, or the weighted average cost method for inventory depending on the operations at each specific location. At all locations, the Company reserves for obsolete, slow moving, and excess inventory by estimating the net realizable value based on the potential future use of such inventory.
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, equipment, and capitalized assets held for lease are stated at cost. The Company capitalizes major expenditures and charges to operating expenses the cost of current maintenance and repairs. Provisions for depreciation and amortization have been computed principally on the straight-line method for property, plant, and equipment. Rates used for depreciation are based principally on the following expected lives: buildings ‑‑ 15 to 40 years; equipment ‑‑ 3 to 7 years; computer hardware and software – 3 to 5 years; leased barrier transfer machines -- 8 to 10 years; leased barriers -- 12 years; other ‑‑ 2 to 20 years and leasehold improvements – shorter of the economic life or term of the lease. The Company’s internally developed software is included in computer hardware and software. All of the Company’s long‑lived asset groups are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected future cash flows is less than the carrying amount of the asset group, an impairment loss is recognized based upon the difference between the fair value of the asset and its carrying value. No impairments were recorded during the fiscal years ended August 31, 2023, 2022, and 2021 . The cost and accumulated depreciation relating to assets retired or otherwise disposed of are eliminated from the respective accounts at the time of disposition. The resulting gain or loss is included in operating income in the consolidated statements of earnings.
Valuation of Goodwill And Identifiable Intangible Assets	Valuation of Goodwill and Identifiable Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Acquired intangible assets are recognized separately from goodwill. Goodwill and other intangible assets are tested for impairment at least annually and whenever triggering events or changes in circumstances indicate its carrying value may not be recoverable. Assessment of the potential impairment of goodwill and identifiable intangible assets is an integral part of the Company’s normal ongoing review of operations. Testing for potential impairment of these assets is significantly dependent on numerous assumptions and reflects management’s best estimates at a particular point in time. The dynamic economic environments in which the Company’s businesses operate and key economic and business assumptions related to projected selling prices, market growth, inflation rates and operating expense ratios, can significantly affect the outcome of impairment tests. Estimates based on these assumptions may differ significantly from actual results. Changes in factors and assumptions used in assessing potential impairments can have a significant impact on the existence and magnitude of impairments, as well as the time in which such impairments are recognized. In fiscal 2023, in conjunction with the Company’s annual review for impairment, the Company performed a qualitative analysis of goodwill for each of the Company’s reporting units, which are the same as its operating segments, and did not identify any potential impairment. The estimated fair value of all reporting units is substantially in excess of its carrying value. Also in fiscal 2023 , the Company performed a qualitative analysis of other intangible assets and concluded there were no indicators of impairment.
Income Taxes	Income Taxes Income taxes are accounted for utilizing the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying value of existing assets and liabilities and their respective tax bases. These expected future tax consequences are measured based on currently enacted tax rates. The effect of tax rate changes on deferred tax assets and liabilities is recognized in income during the period that includes the enactment date. In assessing the ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company’s evaluation of the adequacy of any potential allowance is based on facts and circumstances available to the Company at the date the consolidated financial statements are issued and considers any significant changes in circumstances occurring through the date that the financial statements are issued.
Net Earnings Per Share	Net Earnings per Share Basic net earnings per share is computed using the weighted average number of common shares outstanding during the period. Diluted net earnings per share is computed using the weighted average number of common shares outstanding plus dilutive potential common shares outstanding during the period. Employee stock options, non-vested shares and similar equity instruments granted by the Company are treated as potential common share equivalents outstanding in computing diluted net earnings per share. The Company’s diluted common shares outstanding reported in each period includes the dilutive effect of restricted stock units, in-the-money options, and performance stock units for which threshold performance conditions have been satisfied and is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options, and the amount of compensation cost for future service that the Company has not yet recognized, are assumed to be used to repurchase shares.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company uses certain financial derivatives to mitigate its exposure to volatility in interest rates and foreign currency exchange rates. All derivative instruments are recorded on the balance sheet at their respective fair values. The Company uses these derivative instruments only to hedge exposures in the ordinary course of business and does not invest in derivative instruments for speculative purposes. On the date a derivative contract is entered into, the Company may elect to designate the derivative as a fair value hedge, a cash flow hedge, or the hedge of a net investment in a foreign operation. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative that is used in the hedging transaction is effective. Changes in fair value of derivative instruments that qualify as hedges of a net investment in foreign operations are recorded as a component of accumulated currency translation adjustment in accumulated other comprehensive income (“AOCI”), net of related income tax effects. The Company discontinues hedge accounting prospectively when it is determined that the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative expires or is sold, terminated, or exercised, or management determines that designation of the derivative as a hedging instrument is no longer appropriate. In situations in which the Company does not elect hedge accounting or hedge accounting is discontinued and the derivative is retained, the Company carries or continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value through earnings. The Company manages market and credit risks associated with its derivative instruments by establishing and monitoring limits as to the types and degree of risk that may be undertaken, and by entering into transactions with high-quality counterparties. As of August 31, 2023 , the Company’s derivative counterparties had investment grade credit ratings.
Fair Value Measurements	Fair Value Measurements The Company’s disclosure of the fair value of assets and liabilities is based on a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refers broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: • Level 1 – inputs to valuation techniques are quoted prices in active markets for identical assets or liabilities • Level 2 – inputs to the valuation techniques are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly • Level 3 – inputs to the valuation techniques are unobservable for the assets or liabilities
Treasury Stock	Treasury Stock When the Company repurchases its outstanding stock, it records the repurchased shares at cost as a reduction to shareholders’ equity. The weighted average cost method is utilized for share re-issuances. The difference between the cost and the re-issuance price is charged or credited to a “capital in excess of stated value – treasury stock” account to the extent that there is a sufficient balance to absorb the charge. If the treasury stock is sold for an amount less than its cost and there is not a sufficient balance in the capital in excess of stated value – treasury stock account, the excess is charged to retained earnings.
Contingencies	Contingencies The Company’s accounting for contingencies covers a variety of business activities including contingencies for legal exposures and environmental exposures. The Company accrues these contingencies when its assessments indicate that it is probable that a liability has been incurred and an amount can be reasonably estimated. The Company’s estimates are based on currently available facts and its estimates of the ultimate outcome or resolution. Actual results may differ from the Company’s estimates resulting in an impact, positive or negative, on earnings.
Environmental Remediation Liabilities	Environmental Remediation Liabilities Environmental remediation liabilities include costs directly associated with site investigation and clean up, such as materials, external contractor costs and incremental internal costs directly related to the remedy. The Company accrues the anticipated cost of environmental remediation when the obligation is probable and can be reasonably estimated. Estimates used to record environmental remediation liabilities are based on the Company’s best estimate of probable future costs based on site-specific facts and circumstances. Estimates of the cost for the likely remedy are developed using internal resources or by third-party environmental engineers or other service providers. The Company records the environmental remediation liabilities that represent the points in the range of estimates that are most probable or the minimum amount when no amount within the range is a better estimate than any other amount. Portions of the long-term liability that are fixed and reliably determinable are discounted at a risk-free rate.
Translation of Foreign Currency	Translation of Foreign Currency The Company’s portion of the assets and liabilities related to foreign investments are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average rates of exchange prevailing during the year. Unrealized gains or losses are reflected within common shareholders’ equity as accumulated other comprehensive income or loss.
New Accounting Pronouncements	Recent Accounting Guidance Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting and related disclosure requirements for income taxes. The Company adopted this standard in the first quarter of its fiscal 2022. The adoption of this ASU did not have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The standard replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The Company adopted this in the first quarter of the Company’s fiscal 2021. The adoption of this ASU did not have a material impact on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill; rather, an entity will measure its goodwill impairment by the amount the carrying value exceeds the fair value of a reporting unit. The Company adopted this in the first quarter of the Company’s fiscal 2021. The adoption of this ASU did not have a material impact on its consolidated financial statements and related disclosures.
Recent Accounting Guidance Not Yet Adopted	Recent Accounting Guidance Not Yet Adopted In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs , which requires annual and interim disclosures for entities that finance its purchases with supplier finance programs. These amendments are effective for the Company beginning it its fiscal 2024, except for the amendment on rollforward information, which is effective for the Company beginning in its fiscal 2025. The adoption of this ASU is not expected to have a material impact on its consolidated financial statements.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Aug. 31, 2023
Business Combinations [Abstract]
Summary of Preliminary Purchase Price Allocation	The following table summarizes the preliminary purchase price allocation for FieldWise at the acquisition date. The Company expects the purchase price allocation to be finalized by the end of fiscal 2024. ($ in thousands) Total Cash and cash equivalents $ 1,779 Accounts receivable 376 Inventories 2,651 Property and equipment 2,443 Deferred tax asset 94 Intangible assets 11,400 Goodwill 15,589 Accounts payable and accrued liabilities ( 252 ) Deferred revenues ( 1,229 ) Non-current deferred revenues ( 230 ) Total purchase price 32,621
Summary of Identifiable Intangible Assets at Fair Value	The following table summarizes the identifiable intangible assets at fair value. ($ in thousands) Weighted average useful life in years Fair value of identifiable asset Intangible assets: Customer relationships 15.0 $ 8,700 Developed technology 5.0 2,000 Tradenames N/A 700 Total intangible assets 13.1 $ 11,400

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Segment	A breakout by segment of revenue recognized over time versus point in time for twelve months ended August 31, 2023 and 2022, is as follows: Year ended August 31, 2023 ($ in thousands) Irrigation Infrastructure Total Point in time $ 559,826 $ 69,540 $ 629,366 Over time 26,205 6,334 32,539 Revenue from the contracts with customers 586,031 75,874 661,905 Lease revenue — 12,179 12,179 Total operating revenues $ 586,031 $ 88,053 $ 674,084 Year ended August 31, 2022 ($ in thousands) Irrigation Infrastructure Total Point in time $ 643,169 $ 88,681 $ 731,850 Over time 22,660 5,753 28,413 Revenue from the contracts with customers 665,829 94,434 760,263 Lease revenue — 10,480 10,480 Total operating revenues $ 665,829 $ 104,914 $ 770,743

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	12 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Earnings Per Share	The following table shows the computation of basic and diluted net earnings per share for fiscal 2023, 2022, and 2021: For the years ended August 31, ($ and shares in thousands, except per share amounts) 2023 2022 2021 Numerator: Net earnings $ 72,379 $ 65,469 $ 42,572 Denominator: Weighted average shares outstanding 11,003 10,965 10,886 Diluted effect of stock equivalents 59 66 99 Weighted average shares outstanding assuming dilution 11,062 11,031 10,985 Basic net earnings per share $ 6.58 $ 5.97 $ 3.91 Diluted net earnings per share $ 6.54 $ 5.94 $ 3.88

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Aug. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss is included in the accompanying consolidated balance sheets in the shareholders’ equity section, and consists of the following components: August 31, ($ in thousands) 2023 2022 Accumulated other comprehensive loss: Defined benefit pension plan, net of tax benefit of $ 620 and $ 716 $ ( 1,971 ) ( 2,277 ) Foreign currency translation, net of hedging activities, net of tax 3,868 and $ 4,875 ( 18,948 ) ( 18,924 ) Unrealized loss on marketable securities, net of tax benefit of $ 23 and $ 78 ( 91 ) ( 272 ) Total accumulated other comprehensive loss $ ( 21,010 ) $ ( 21,473 )
Roll Forward of Balances in Accumulated Other Comprehensive Loss	The following is a roll-forward of the balances in accumulated other comprehensive loss, net of tax. Unrealized Accumulated Defined Foreign gain (loss) on other benefit currency marketable comprehensive ($ in thousands) pension plan translation securities loss Balance at August 31, 2021 $ ( 2,843 ) $ ( 15,085 ) $ ( 5 ) $ ( 17,933 ) Current period change 566 ( 3,839 ) ( 267 ) ( 3,540 ) Balance at August 31, 2022 ( 2,277 ) ( 18,924 ) ( 272 ) ( 21,473 ) Current period change 306 ( 24 ) 181 463 Balance at August 31, 2023 $ ( 1,971 ) $ ( 18,948 ) $ ( 91 ) $ ( 21,010 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Earnings Before Income Taxes	For financial reporting purposes earnings before income taxes include the following components: For the years ended August 31, ($ in thousands) 2023 2022 2021 United States $ 40,066 $ 34,465 $ 28,605 Foreign 60,309 53,403 21,781 $ 100,375 $ 87,868 $ 50,386
Schedule of Significant Components of Income Tax Provision	Significant components of the income tax provision are as follows: For the years ended August 31, ($ in thousands) 2023 2022 2021 Current: Federal $ 8,119 $ 5,678 $ 2,432 State 1,690 1,310 733 Foreign 18,187 17,474 2,738 Total current 27,996 24,462 5,903 Deferred: Federal ( 684 ) 244 2,251 State ( 76 ) 34 281 Foreign 760 ( 2,341 ) ( 621 ) Total deferred — ( 2,063 ) 1,911 Total income tax provision $ 27,996 $ 22,399 $ 7,814
Schedule of Effective Income Tax Rate Reconciliation	For the years ended August 31, 2023 2022 2021 ($ in thousands) Amount % Amount % Amount % U.S. statutory rate $ 21,079 21.0 $ 18,452 21.0 $ 10,581 21.0 State and local taxes, net of federal tax benefit 1,259 1.3 1,069 1.2 859 1.7 Foreign tax rate differences 6,017 6.0 3,318 3.8 ( 390 ) ( 0.8 ) U.S. tax reform ( 103 ) ( 0.1 ) 313 0.4 339 0.7 Deferred tax asset valuation allowance ( 610 ) ( 0.6 ) — — ( 2,169 ) ( 4.3 ) Federal credits ( 445 ) ( 0.4 ) ( 444 ) ( 0.6 ) ( 629 ) ( 1.2 ) Uncertain tax benefits ( 84 ) ( 0.1 ) ( 369 ) ( 0.4 ) ( 622 ) ( 1.2 ) Capital gains 529 0.5 — — — — Other 354 0.3 60 0.1 ( 155 ) ( 0.3 ) Effective rate $ 27,996 27.9 $ 22,399 25.5 $ 7,814 15.5
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows: August 31, ($ in thousands) 2023 2022 Deferred tax assets: Accrued expenses $ 11,467 $ 12,569 Warranty 3,433 3,336 Defined benefit pension plan 1,253 1,391 Inventory 2,749 2,544 Share-based compensation 1,722 1,474 Vacation 935 773 Net operating loss and capital loss carry forwards 189 1,208 Deferred revenue 1,379 1,422 Allowance for doubtful accounts 1,338 1,122 Lease liabilities 3,656 3,868 Capitalized research and development expenditures 2,009 — Other 1,490 878 Gross deferred tax assets 31,620 30,585 Valuation allowance ( 491 ) ( 1,203 ) Net deferred tax assets $ 31,129 $ 29,382 Deferred tax liabilities: Intangible assets $ ( 5,085 ) $ ( 5,389 ) Property, plant, and equipment ( 12,718 ) ( 11,441 ) Lease assets ( 2,844 ) ( 2,999 ) Derivative contract ( 286 ) ( 1,294 ) Total deferred tax liabilities $ ( 20,933 ) $ ( 21,123 ) Net deferred tax assets $ 10,196 $ 8,259
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of changes in unrecognized tax benefits is as follows: August 31, ($ in thousands) 2023 2022 Unrecognized tax benefits at beginning of the year $ 574 $ 724 Increases for positions taken in current year 33 158 Decreases for positions taken in prior years ( 15 ) — Reduction resulting from lapse of applicable ( 144 ) ( 308 ) Decreases for settlements with tax authorities ( 48 ) — Unrecognized tax benefits at end of the year $ 400 $ 574

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Aug. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	August 31, ($ in thousands) 2023 2022 Raw materials and supplies $ 83,908 $ 93,469 Work in process 7,820 12,603 Finished goods and purchased parts 86,793 110,022 Total inventory value before LIFO adjustment 178,521 216,094 Less adjustment to LIFO value ( 22,589 ) ( 22,318 ) Inventories, net $ 155,932 $ 193,776

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Aug. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	August 31, ($ in thousands) 2023 2022 Operating property, plant, and equipment: Land $ 6,144 $ 5,997 Buildings 57,606 51,014 Machinery and equipment 99,466 93,558 Furniture and fixtures 8,807 7,994 Computer hardware and software 26,684 25,948 Construction in progress 8,238 10,207 Total operating property, plant, and equipment 206,945 194,718 Accumulated depreciation ( 130,923 ) ( 120,816 ) Total operating property, plant, and equipment, net 76,022 73,902 Property held for lease: Machines 16,398 16,359 Barriers 34,398 29,904 Total property held for lease 50,796 46,263 Accumulated depreciation ( 27,137 ) ( 25,693 ) Total property held for lease, net 23,659 20,570 Property, plant, and equipment, net $ 99,681 $ 94,472

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount in Goodwill by Segment	The carrying amount of goodwill by reportable segment for the year ended August 31, 2023 and August 31, 2022 is as follows: ($ in thousands) Irrigation Infrastructure Total Balance as of August 31, 2021 $ 51,811 $ 16,157 $ 67,968 Foreign currency translation ( 64 ) ( 774 ) ( 838 ) Balance as of August 31, 2022 51,747 15,383 67,130 Acquisition of FieldWise 15,589 — 15,589 Foreign currency translation 35 367 402 Balance as of August 31, 2023 $ 67,371 $ 15,750 $ 83,121
Schedule of Intangible Assets and Weighted Average Remaining Life Finite and Infinite Excluding Goodwill	The components of the Company’s identifiable intangible assets and their weighted average remaining life at August 31, 2023 and 2022 are included in the table below. August 31, 2023 2022 Weighted Gross Weighted Gross average carrying Accumulated average carrying Accumulated ($ in thousands) years amount amortization years amount amortization Definite lived intangible assets: Patents and developed technology 3.1 $ 28,658 $ ( 24,402 ) 3.3 $ 26,329 $ ( 24,106 ) Customer relationships 6.8 26,030 ( 14,506 ) 2.1 17,401 ( 12,578 ) Indefinite lived intangible assets: Tradenames N/A 11,939 — N/A 11,162 — Total 5.7 $ 66,627 $ ( 38,908 ) 2.7 $ 54,892 $ ( 36,684 )
Schedule of Future Estimated Amortization of Intangible Assets	Future estimated amortization of intangible assets for the next five years is as follows: Fiscal years $ in thousands 2024 $ 2,881 2025 2,089 2026 1,456 2027 1,456 2028 1,421 Thereafter 6,477 $ 15,780

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	12 Months Ended
	Aug. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities Current	August 31, ($ in thousands) 2023 2022 Other current liabilities: Compensation and benefits $ 24,957 $ 23,148 Contract liabilities 18,800 29,494 Warranties 14,535 14,080 Dealer related liabilities 9,629 8,396 Tax related liabilities 9,187 7,820 Operating lease liabilities 3,028 3,159 Deferred revenue - lease 2,830 1,064 Accrued environmental liabilities 1,287 4,179 Accrued insurance 1,163 1,193 Other 6,188 8,151 Total other current liabilities $ 91,604 $ 100,684

Credit Arrangements (Tables)

Credit Arrangements (Tables)	12 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following: August 31, ($ in thousands) 2023 2022 Series A Senior Notes $ 115,000 $ 115,000 Elecsys Series 2006A Bonds 710 931 Total debt 115,710 115,931 Less current portion ( 226 ) ( 222 ) Less debt issuance costs ( 320 ) ( 368 ) Total long-term debt $ 115,164 $ 115,341
Schedule of Principal Payments Due on Long-Term Debt	Principal payments due on the debt are as follows: Due within $ in thousands 1 year $ 226 2 years 230 3 years 235 4 years 19 Thereafter 115,000 $ 115,710

Leases (Tables)

Leases (Tables)	12 Months Ended
	Aug. 31, 2023
Leases [Abstract]
Schedule of Lease Cost and Other Information Related to Company's Operating Leases	Lease cost and other information related to the Company’s operating leases are as follows: August 31, ($ in thousands) 2023 2022 Operating lease cost (cost resulting from lease payments) $ 4,114 $ 5,573 Variable lease cost (cost excluded from lease payments) 536 552 Total lease cost $ 4,650 $ 6,125 Operating cash outflows from operating leases $ 4,205 $ 5,198 Weighted average lease term - operating leases 8.3 years 9.0 years Weighted average discount rate - operating leases 3.5 % 3.3 %
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases are as follows: August 31, ($ in thousands) Classification 2023 2022 Operating lease ROU assets Operating lease right-of-use assets $ 17,036 $ 19,181 Operating lease short-term liabilities Other current liabilities 3,028 3,159 Operating lease long-term liabilities Operating lease liabilities 17,689 19,810 Total lease liabilities $ 20,717 $ 22,969
Schedule of Minimum Lease Payments Under Operating Leases	The minimum lease payments under operating leases expiring subsequent to August 31, 2023 are as follows: Fiscal year ending $ in thousands 2024 $ 3,715 2025 3,395 2026 3,086 2027 2,660 2028 1,913 Thereafter 9,397 Total lease payments 24,166 Less: interest 3,449 Present value of lease liabilities $ 20,717

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value	The following table presents the Company’s financial assets and liabilities measured at fair value, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of August 31, 2023 and 2022, respectively: August 31, 2023 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 160,755 $ — $ — $ 160,755 Marketable securities: Corporate bonds — 4,095 — 4,095 U.S. treasury securities — 1,461 — 1,461 Derivative asset — 1,672 — 1,672 Derivative liability — ( 457 ) — ( 457 ) August 31, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 105,048 $ — $ — $ 105,048 Marketable securities: Corporate bonds — 9,668 — 9,668 U.S. treasury securities — 1,792 — 1,792 Derivative asset — 5,505 — 5,505

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Environmental Remediation Liability Classifications	The following table summarizes the environmental remediation liability classifications included in the consolidated balance sheets as of August 31, 2023 and 2022: ($ in thousands) August 31, Balance sheet location 2023 2022 Other current liabilities $ 1,287 $ 4,179 Other noncurrent liabilities 10,175 10,967 Total environmental remediation liabilities $ 11,462 $ 15,146

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Aug. 31, 2023
Retirement Benefits [Abstract]
Schedule of Amounts Recognized in Balance Sheet	The funded status of the plan and the net amount recognized in the accompanying balance sheets as of August 31 is as follows: August 31, ($ in thousands) 2023 2022 Change in benefit obligation: Benefit obligation at beginning of year $ 5,422 $ 6,284 Interest cost 211 156 Actuarial gain ( 191 ) ( 488 ) Benefits paid ( 530 ) ( 530 ) Benefit obligation at end of year $ 4,912 $ 5,422
Schedule of Amounts Recognized in Statement of Financial Position	Amounts recorded in the consolidated balance sheets for the pension benefit obligation consist of: August 31, ($ in thousands) 2023 2022 Other current liabilities $ 530 $ 530 Other non-current liabilities 4,382 4,892 Net amount recognized $ 4,912 $ 5,422
Schedule of Before-tax Amounts Recognized in Accumulated other Comprehensive Loss	The before-tax amounts recognized in accumulated other comprehensive loss consists of: August 31, ($ in thousands) 2023 2022 Net actuarial loss $ ( 2,591 ) $ ( 2,993 )
Schedules of Net Periodic Benefit Costs	The components of the net periodic benefit cost for the supplemental retirement plan recorded within other income (expense) on the consolidated statement of earnings are as follows: For the years ended August 31, ($ in thousands) 2023 2022 2021 Interest cost $ 211 $ 156 $ 146 Net amortization and deferral 211 255 269 Total $ 422 $ 411 $ 415
Schedule of Expected Benefit Payments	The following net benefit payments are expected to be paid: Fiscal years $ in thousands 2024 $ 514 2025 503 2026 490 2027 477 2028 462 Thereafter 2,466 $ 4,912

Warranties (Tables)

Warranties (Tables)	12 Months Ended
	Aug. 31, 2023
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following tables provide the changes in the Company’s product warranties: For the years ended August 31, ($ in thousands) 2023 2022 Product warranty accrual balance, beginning of period $ 14,080 $ 12,736 Liabilities accrued for warranties during the period 10,911 10,931 Warranty claims paid during the period ( 10,456 ) ( 9,393 ) Changes in estimates — ( 194 ) Product warranty accrual balance, end of period $ 14,535 $ 14,080

Industry Segment Information (T

Industry Segment Information (Tables)	12 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	($ in thousands) 2023 2022 2021 Operating revenues: Irrigation: North America $ 309,538 $ 355,683 $ 273,871 International 276,493 310,146 197,487 Irrigation total 586,031 665,829 471,358 Infrastructure 88,053 104,914 96,288 Total operating revenues $ 674,084 $ 770,743 $ 567,646 Operating income: Irrigation $ 121,969 $ 105,763 $ 63,181 Infrastructure 12,067 18,328 20,174 Corporate ( 31,852 ) ( 29,448 ) ( 29,248 ) Total operating income 102,184 94,643 54,107 Total other expense ( 1,809 ) ( 6,775 ) ( 3,721 ) Earnings before income taxes $ 100,375 $ 87,868 $ 50,386 Total capital expenditures: Irrigation $ 13,043 $ 10,679 $ 19,188 Infrastructure 5,287 3,798 6,866 Corporate 445 1,118 457 $ 18,775 $ 15,595 $ 26,511 Depreciation and amortization: Irrigation $ 12,834 $ 13,011 $ 12,245 Infrastructure 4,023 3,781 3,748 Corporate 2,425 3,386 3,183 $ 19,282 $ 20,178 $ 19,177
Schedule of Revenue and Long-Lived Assets by Geographical Areas	For the years ended August 31, ($ in thousands) 2023 2022 2021 Revenues % of total Revenues % of total Revenues % of total United States $ 347,238 52 $ 394,080 51 $ 307,313 54 International 326,846 48 376,663 49 260,333 46 Total revenues $ 674,084 100 $ 770,743 100 $ 567,646 100 For the years ended August 31, ($ in thousands) 2023 2022 2021 Long-lived % of total Long-lived % of total Long-lived % of total United States $ 76,428 77 $ 70,643 75 $ 68,526 74 International 23,253 23 23,829 25 23,471 26 Total long-lived assets $ 99,681 100 $ 94,472 100 $ 91,997 100

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	12 Months Ended
	Aug. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense	The following table summarizes share-based compensation expense for fiscal 2023, 2022, and 2021: For the years ended August 31, ($ in thousands) 2023 2022 2021 Share-based compensation expense included in cost of $ 183 $ 257 $ 258 Engineering and research 232 210 202 Selling 632 577 544 General and administrative 5,651 4,637 5,524 Share-based compensation expense included in 6,515 5,424 6,270 Total share-based compensation expense 6,698 5,681 6,528 Tax benefit ( 1,574 ) ( 1,335 ) ( 1,534 ) Share-based compensation expense, net of tax $ 5,124 $ 4,346 $ 4,994
Schedule of Assumptions Used	The table below shows the annual weighted average assumptions used for valuation purposes. Grant year Fiscal 2023 Fiscal 2022 Fiscal 2021 Risk-free interest rate 4.4 % 1.2 % 0.5 % Dividend yield 0.9 % 0.9 % 1.1 % Expected life (years) 5 5 6 Volatility 35.7 % 33.8 % 32.8 % Weighted average grant-date fair value of options granted $ 55.53 $ 41.80 $ 31.38
Summary of Stock Option Activity	The following table summarizes stock option activity for fiscal 2023: Number of Average Average Aggregate Stock options outstanding at August 31, 2022 97,140 $ 106.80 7.0 $ 5,203 Granted 21,743 156.16 Exercised ( 413 ) 76.37 23 Forfeited/cancelled — — — Stock options outstanding at August 31, 2023 118,470 $ 115.96 6.6 $ 2,139 Stock options exercisable at August 31, 2023 76,143 $ 99.05 5.5 $ 2,072
Summary of Share Based Compensation Additional Information	Additional information regarding stock option exercises is summarized in the table below. For the years ended August 31, ($ in thousands) 2023 2022 2021 Intrinsic value of stock options exercised $ 23 $ 1,737 $ 2,125 Cash received from stock option exercises $ 32 $ 2,894 $ 3,965 Tax benefit realized from stock option exercises $ 1 $ 140 $ 499 Weighted average grant-date fair value of stock options vested $ 40.66 $ 34.19 $ 25.95
Summary of Restricted Stock Unit Activity	The following table summarizes restricted stock unit activity for fiscal 2023: Number of Weighted Restricted stock units outstanding at August 31, 2022 44,251 $ 126.50 Granted 24,123 151.38 Vested ( 24,342 ) 122.06 Forfeited / Cancelled ( 2,460 ) 140.26 Restricted stock units outstanding at August 31, 2023 41,572 $ 108.54
Schedule of Performance Stock Unit Activity	The table below summarizes performance stock unit activity for fiscal 2023: Number of Weighted Performance stock units outstanding at August 31, 2022 32,358 $ 127.78 Granted 14,496 173.17 Vested ( 9,344 ) 102.28 Forfeited / cancelled — — Performance stock units outstanding at August 31, 2023 37,510 $ 151.67
Schedule of Assumptions Used to Estimate Fair Value of TSR Portion of Awards Granted	The fair value of the TSR portion of the awards granted in fiscal 2023, 2022, and 2021 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions: Grant year Fiscal 2023 Fiscal 2022 Fiscal 2021 Expected term (years) 3 3 3 Risk-free interest rate 4.5 % 0.7 % 0.2 % Volatility 38.6 % 39.1 % 38.6 % Dividend yield 0.9 % 0.9 % 1.2 %

Description of Business and S_3

Description of Business and Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Aug. 31, 2023 USD ($) Segment	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Description Of Business And Significant Accounting Policies [Line Items]
Number of reportable segments | Segment	2
Percentage of marketable securities investments mature within one year	96%
Percentage of marketable securities investments mature within one to two years	4%
Allowance for expected credit losses	$ 5,000,000	$ 4,100,000
Impairments	$ 0	$ 0	$ 0
Building [Member] | Minimum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	15 years
Building [Member] | Maximum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	40 years
Equipment [Member] | Minimum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	3 years
Equipment [Member] | Maximum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	7 years
Leased Barrier Transfer Machines [Member] | Minimum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	8 years
Leased Barrier Transfer Machines [Member] | Maximum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	10 years
Computer Hardware and Software [Member] | Minimum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	3 years
Computer Hardware and Software [Member] | Maximum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	5 years
Leased Barriers [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	12 years
Other [Member] | Minimum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	2 years
Other [Member] | Maximum [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Useful life	20 years

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Disaggregation Of Revenue [Line Items]
Unsatisfied performance obligation amount	$ 1.5	$ 2
Revenue recognized	27.7
Other Current Assets [Member]
Disaggregation Of Revenue [Line Items]
Contract assets	1.3	0.9
Other Current and Noncurrent Liabilities [Member]
Disaggregation Of Revenue [Line Items]
Contract liabilities	$ 20.5	$ 30.6

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Disaggregation of Revenue by Segment) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 661,905,000	$ 760,263,000
Lease revenue	12,179,000	10,480,000
Total operating revenues	674,084,000	770,743,000	$ 567,646,000
Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	586,031,000	665,829,000
Lease revenue	0	0
Total operating revenues	586,031,000	665,829,000	471,358,000
Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	75,874,000	94,434,000
Lease revenue	12,179,000	10,480,000
Total operating revenues	88,053,000	104,914,000	$ 96,288,000
Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	629,366,000	731,850,000
Point in Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	559,826,000	643,169,000
Point in Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	69,540,000	88,681,000
Over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	32,539,000	28,413,000
Over Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	26,205,000	22,660,000
Over Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 6,334,000	$ 5,753,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Narrative) (Details) - USD ($) $ in Millions			12 Months Ended
	Jul. 28, 2023	Aug. 27, 2021	Aug. 31, 2023	Aug. 31, 2021
FieldWise, LLC [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 32.6
Amortization of finite lived intangible assets	10.7
Amortization of indefinite lived intangible assets	$ 0.7
Weighted average useful life of amortizable intangible assets	13 years 1 month 6 days
Acquisition date			Jul. 28, 2023
IRZ Consulting, LLC [Member]
Business Acquisition [Line Items]
Proceeds from sale of businesses		$ 3.4
Proceeds from sale of businesses in cash		1.3
Proceeds from sale in short-term notes		$ 2.1
IRZ Consulting, LLC [Member] | General and Administrative Expense [Member]
Business Acquisition [Line Items]
Gain on sale of business				$ 1.1

Acquisitions and Divestitures_3

Acquisitions and Divestitures (Summary of Preliminary Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Jul. 28, 2023	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 83,121		$ 67,130	$ 67,968
Field Wise L L C [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 1,779
Accounts receivable		376
Inventories		2,651
Property and equipment		2,443
Deferred tax asset		94
Intangible assets		11,400
Goodwill		15,589
Accounts payable and accrued liabilities		(252)
Deferred revenues		(1,229)
Non-current deferred revenues		(230)
Total purchase price		$ 32,621

Net Earnings Per Share (Schedul

Net Earnings Per Share (Schedule of Computation of Basic and Diluted Net Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Earnings Per Share [Abstract]
Net earnings	$ 72,379	$ 65,469	$ 42,572
Weighted average shares outstanding	11,003	10,965	10,886
Diluted effect of stock equivalents	59	66	99
Weighted average shares outstanding assuming dilution	11,062	11,031	10,985
Basic net earnings per share	$ 6.58	$ 5.97	$ 3.91
Diluted net earnings per share	$ 6.54	$ 5.94	$ 3.88

Acquisitions and Divestitures_4

Acquisitions and Divestitures (Summary of Identifiable Intangible Assets at Fair Value) (Details) - Field Wise L L C [Member] $ in Thousands	Jul. 28, 2023 USD ($)
Business Acquisition [Line Items]
Weighted average useful life in years	13 years 1 month 6 days
Fair value of identifiable asset	$ 11,400
Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted average useful life in years	15 years
Fair value of identifiable asset	$ 8,700
Developed Technology [Member]
Business Acquisition [Line Items]
Weighted average useful life in years	5 years
Fair value of identifiable asset	$ 2,000
Tradenames [Member]
Business Acquisition [Line Items]
Fair value of identifiable asset	$ 700

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accumulated Other Comprehensive Loss [Abstract]
Defined benefit pension plan, net of tax benefit of $620 and $716	$ (1,971)	$ (2,277)
Foreign currency translation, net of hedging activities, net of tax expense of $3,868 and $4,875	(18,948)	(18,924)
Unrealized loss on marketable securities, net of tax benefit of $23 and $78	(91)	(272)
Total accumulated other comprehensive loss	$ (21,010)	$ (21,473)	$ (17,933)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Accumulated Other Comprehensive Loss [Abstract]
Defined benefit pension tax	$ 620	$ 716
Foreign currency adjustment tax	3,868	4,875
Unrealized loss on marketable securities	$ 23	$ 78

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss (Roll Forward of Balances in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (21,473)	$ (17,933)
Current period change	463	(3,540)
Balance	(21,010)	(21,473)
Defined Benefit Pension Plan Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2,277)	(2,843)
Current period change	306	566
Balance	(1,971)	(2,277)
Defined Benefit Pension Plan Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(18,924)	(15,085)
Current period change	(24)	(3,839)
Balance	(18,948)	(18,924)
Unrealized Gain (Loss) on Marketable Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(272)	(5)
Current period change	181	(267)
Balance	$ (91)	$ (272)

Income Taxes (Schedule of Earni

Income Taxes (Schedule of Earnings Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 40,066	$ 34,465	$ 28,605
Foreign	60,309	53,403	21,781
Earnings before income taxes	$ 100,375	$ 87,868	$ 50,386

Income Taxes (Schedule of Signi

Income Taxes (Schedule of Significant Components of Income Tax Provision) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Federal, Current	$ 8,119	$ 5,678	$ 2,432
State, Current	1,690	1,310	733
Foreign, Current	18,187	17,474	2,738
Total Current	27,996	24,462	5,903
Federal, Deferred	(684)	244	2,251
State, Deferred	(76)	34	281
Foreign, Deferred	760	(2,341)	(621)
Total Deferred	0	(2,063)	1,911
Total income tax provision	$ 27,996	$ 22,399	$ 7,814

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
U.S. statutory rate	$ 21,079	$ 18,452	$ 10,581
State and local taxes, net of federal tax benefit	1,259	1,069	859
Foreign tax rate differences	6,017	3,318	(390)
U.S. tax reform	(103)	313	339
Deferred tax asset valuation allowance	(610)		(2,169)
Federal credits	(445)	(444)	(629)
Uncertain tax benefits	(84)	(369)	(622)
Capital gains	529
Other	354	60	(155)
Total income tax provision	$ 27,996	$ 22,399	$ 7,814
U.S statutory rate, percentage	21%	21%	21%
State and local taxes, net of federal tax benefit, percentage	1.30%	1.20%	1.70%
Foreign tax rate differences, percentage	6%	3.80%	(0.80%)
U.S. tax reform, percentage	(0.10%)	0.40%	0.70%
Deferred tax asset valuation allowance, percentage	(0.60%)		(4.30%)
Federal Credits, percentage	(0.40%)	(0.60%)	(1.20%)
Uncertain Tax Benefits, percentage	(0.10%)	(0.40%)	(1.20%)
Capital gains, percentage	0.50%
Other, percentage	0.30%	0.10%	(0.30%)
Effective rate, percentage	27.90%	25.50%	15.50%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Accrued expenses	$ 11,467	$ 12,569
Deferred Tax Assets, Warranty	3,433	3,336
Deferred Tax Assets, Defined benefit pension plan	1,253	1,391
Deferred Tax Assets, Inventory	2,749	2,544
Deferred Tax Assets, Share-based compensation	1,722	1,474
Deferred Tax Assets, Vacation	935	773
Deferred Tax Assets, Net operating loss and capital loss carryforwards	189	1,208
Deferred Tax Assets, Deferred revenue	1,379	1,422
Deferred Tax Assets, Allowance for doubtful accounts	1,338	1,122
Deferred Tax Assets, Lease liabilities	3,656	3,868
Deferred Tax Assets, Capitalized research and development expenditures	2,009
Deferred Tax Assets, Other	1,490	878
Gross deferred tax assets	31,620	30,585
Deferred Tax Assets, Valuation allowance	(491)	(1,203)
Net deferred tax assets	31,129	29,382
Deferred Tax Liabilities, Intangible assets	(5,085)	(5,389)
Deferred Tax Liabilities, Property, plant and equipment	(12,718)	(11,441)
Deferred Tax Liabilities, Lease assets	(2,844)	(2,999)
Deferred Tax Liabilities, Derivative contract	(286)	(1,294)
Total deferred tax liabilities	(20,933)	(21,123)
Net deferred tax assets	$ 10,196	$ 8,259

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income Taxes [Line Items]
Valuation allowance	$ 491	$ 1,203
Unrecognized tax benefits that would impact effective tax rate	300	500
Interest and penalties recognized	200	400
Accrued interest and penalties	$ 300	$ 400
Maximum [Member]
Income Taxes [Line Items]
Percentage of Recognized largest amount benefit realized upon settlement		50%
Statutes of limitation range period	6 years
Minimum [Member]
Income Taxes [Line Items]
Statutes of limitation range period	3 years
Filtration Business [Member]
Income Taxes [Line Items]
Valuation allowance	$ 500	$ 800

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at beginning of the year	$ 574	$ 724
Increases for positions taken in current year	33	158
Decreases for positions taken in prior years	(15)
Reduction resulting from lapse of applicable statute of limitations	(144)	(308)
Decreases for settlements with tax authorities	(48)
Unrecognized tax benefits at end of the year	$ 400	$ 574

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 83,908	$ 93,469
Work in process	7,820	12,603
Finished goods and purchased parts	86,793	110,022
Total inventory value before LIFO adjustment	178,521	216,094
Less adjustment to LIFO value	(22,589)	(22,318)
Inventories, net	$ 155,932	$ 193,776

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Inventory Disclosure [Abstract]
Inventories	$ 178,521	$ 216,094
Inventories, net	155,932	193,776
LIFO, basis amount	800	77,800
FIFO, basis amount	113,800	$ 138,300
Decrease to cost of goods sold related to liquidation of LIFO inventory quantities	$ 1,200
Decrease to cost of goods sold per diluted share related to liquidation of LIFO inventory quantities	$ 0.11

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	$ 206,945	$ 194,718
Accumulated depreciation	(130,923)	(120,816)
Total operating property, plant, and equipment, net	76,022	73,902
Machines	16,398	16,359
Barriers	34,398	29,904
Total property held for lease	50,796	46,263
Accumulated depreciation	(27,137)	(25,693)
Total property held for lease, net	23,659	20,570
Property, plant, and equipment, net	99,681	94,472
Land [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	6,144	5,997
Building [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	57,606	51,014
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	99,466	93,558
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	8,807	7,994
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	26,684	25,948
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total operating property, plant and equipment	$ 8,238	$ 10,207

Property, Plant and Equipment_3

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 13.9	$ 13.5	$ 12.7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Carrying Amount in Goodwill by Segments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 67,130	$ 67,968
Acquisition of FieldWise	15,589
Foreign currency translation	402	(838)
Goodwill, Ending Balance	83,121	67,130
Irrigation [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	51,747	51,811
Acquisition of FieldWise	15,589
Foreign currency translation	35	(64)
Goodwill, Ending Balance	67,371	51,747
Infrastructure [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	15,383	16,157
Acquisition of FieldWise	0
Foreign currency translation	367	(774)
Goodwill, Ending Balance	$ 15,750	$ 15,383

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Intangible Assets and Weighted Average Remaining Life Finite and Infinite Excluding Goodwill) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Finite And Indefinite Intangible Assets [Line Items]
Definite lived intangible assets: weighted average years	5 years 8 months 12 days	2 years 8 months 12 days
Total, gross carrying amount	$ 66,627	$ 54,892
Definite lived intangible assets: accumulated amortization	(38,908)	(36,684)
Tradenames [Member]
Finite And Indefinite Intangible Assets [Line Items]
Indefinite lived intangible assets: gross carrying amount	$ 11,939	$ 11,162
Patents and Developed Technology [Member]
Finite And Indefinite Intangible Assets [Line Items]
Definite lived intangible assets: weighted average years	3 years 1 month 6 days	3 years 3 months 18 days
Definite lived intangible assets: gross carrying amount	$ 28,658	$ 26,329
Definite lived intangible assets: accumulated amortization	$ (24,402)	$ (24,106)
Customer Relationships [Member]
Finite And Indefinite Intangible Assets [Line Items]
Definite lived intangible assets: weighted average years	6 years 9 months 18 days	2 years 1 month 6 days
Definite lived intangible assets: gross carrying amount	$ 26,030	$ 17,401
Definite lived intangible assets: accumulated amortization	$ (14,506)	$ (12,578)

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2,000,000	$ 2,000,000	$ 2,200,000
Goodwill impairment	$ 0	$ 0	$ 0

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Schedule of Future Estimated Amortization of Intangible Assets) (Details) $ in Thousands	Aug. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 2,881
2025	2,089
2026	1,456
2027	1,456
2028	1,421
Thereafter	6,477
Total	$ 15,780

Other Current Liabilities (Sche

Other Current Liabilities (Schedule of Other Liabilities Current) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Other Liabilities Disclosure [Abstract]
Compensation and benefits	$ 24,957	$ 23,148
Contract liabilities	18,800	29,494
Warranties	14,535	14,080
Dealer related liabilities	9,629	8,396
Tax related liabilities	9,187	7,820
Operating lease liabilities	3,028	3,159
Deferred revenue - lease	2,830	1,064
Accrued environmental liabilities	1,287	4,179
Accrued insurance	1,163	1,193
Other	6,188	8,151
Total other current liabilities	$ 91,604	$ 100,684

Credit Arrangements (Narrative)

Credit Arrangements (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Debt Instrument [Line Items]
Long-term Debt	$ 115,710,000	$ 115,931,000
Elecsys Series 2006A Bonds [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 710,000	931,000
Maturity date	Sep. 01, 2026
Variable interest rate	0.45%
Effective interest rate	1.72%
Interest rate adjustment period	5 years
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 26, 2026
Unsecured revolving line of credit, amount outstanding	$ 0	0
Line of Credit Facility, Remaining Borrowing Capacity	50,000,000
Line of credit facility, additional borrowing capacity	$ 50,000,000
Annual commitment fee	0.125%
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Annual commitment fee	0.125%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Unsecured revolving line of credit, maximum borrowing capacity outstanding	$ 50,000,000
Annual commitment fee	0.20%
Revolving Credit Facility [Member] | SOFR [Member]
Debt Instrument [Line Items]
Variable interest rate	6.66%
Revolving Credit Facility [Member] | SOFR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable interest rate	100%
Revolving Credit Facility [Member] | SOFR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable interest rate	210%
Unsecured Senior Notes, Series A [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 115,000,000	$ 115,000,000
Face amount	$ 115,000,000
Maturity date	Feb. 19, 2030
Interest rate	3.82%

Credit Arrangements (Schedule o

Credit Arrangements (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 115,710	$ 115,931
Less current portion	(226)	(222)
Less debt issuance costs	(320)	(368)
Total long-term debt	115,164	115,341
Elecsys Series 2006A Bonds [Member]
Debt Instrument [Line Items]
Total debt	710	931
Series A Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	$ 115,000	$ 115,000

Credit Arrangements (Schedule_2

Credit Arrangements (Schedule of Principal Payments Due on Long-Term Debt) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Debt Disclosure [Abstract]
1 year	$ 226
2 years	230
3 years	235
4 years	19
Thereafter	115,000
Total debt	$ 115,710	$ 115,931

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Leases [Abstract]
Lease expense	$ 0	$ 0

Leases (Schedule of Lease Cost

Leases (Schedule of Lease Cost and Other Information Related to Company's Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Lease, Cost [Abstract]
Operating lease cost (cost resulting from lease payments)	$ 4,114	$ 5,573
Variable lease cost (cost excluded from lease payments)	536	552
Total lease cost	4,650	6,125
Operating cash outflows from operating leases	$ 4,205	$ 5,198
Weighted average lease term - operating leases	8 years 3 months 18 days	9 years
Weighted average discount rate - operating leases	3.50%	3.30%

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information Related to Operating Leases) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Leases [Abstract]
Operating lease ROU assets	$ 17,036	$ 19,181
Operating lease short-term liabilities	$ 3,028	$ 3,159
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating lease long-term liabilities	$ 17,689	$ 19,810
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating lease long-term liabilities	Operating lease long-term liabilities
Total lease liabilities	$ 20,717	$ 22,969

Leases (Schedule of Minimum Lea

Leases (Schedule of Minimum Lease Payments Under Operating Leases) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	$ 3,715
2025	3,395
2026	3,086
2027	2,660
2028	1,913
Thereafter	9,397
Total lease payments	24,166
Less: interest	3,449
Present value of lease liabilities	$ 20,717	$ 22,969

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Financial Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 160,755	$ 105,048
Marketable securities:
Marketable securities	4,095
Derivative assets	1,672	5,505
Derivative liability	(457)
Corporate Bonds [Member]
Marketable securities:
Marketable securities		9,668
U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	1,461	1,792
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	160,755	105,048
Marketable securities:
Derivative assets	0	0
Derivative liability	0
Level 1 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	0	0
Level 1 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Marketable securities:
Derivative assets	1,672	5,505
Derivative liability	(457)
Level 2 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	4,095	9,668
Level 2 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	1,461	1,792
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Marketable securities:
Derivative assets	0
Derivative liability	0
Level 3 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	0	0
Level 3 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) € in Millions, R in Millions, $ in Millions			12 Months Ended
	Jun. 12, 2023 USD ($)	Mar. 28, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2023 ZAR (R)	Jun. 12, 2023 EUR (€)	Mar. 28, 2022 EUR (€)
Fair Value Disclosures [Abstract]
Carrying amount, long-term debt (including current portion)			$ 115.7	$ 115.9
Fair value of the long-term debt			102	103.6
Notional amount	$ 25	$ 50			R 225.3	€ 23.3	€ 45.6
Maturity date	Jun. 12, 2026	Mar. 30, 2027
Decrease in fair value of currency swap contract, net of tax			0.3	2.9
Fair value of currency swap contract, tax impact			0.1	$ 0.9
Foreign currency forward contracts resulting in a net loss			$ 0.1

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	May 31, 2023	Aug. 31, 2022
Commitments And Contingencies [Line Items]
Liabilities	$ 290,009		$ 317,295
Lindsay, Nebraska Facility [Member]
Commitments And Contingencies [Line Items]
Current environmental remediation accrual		$ 11,500
Liabilities	$ 8,100		11,000
Liabilities discounted risk Free interest rate	1.20%
Discounted portion of liabilities	$ 9,100		$ 12,400

Commitments and Contingencies_3

Commitments and Contingencies (Summary of Environmental Remediation Liability Classifications) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Other current liabilities	$ 1,287	$ 4,179
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Other noncurrent liabilities	$ 10,175	$ 10,967
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total environmental remediation liabilities	$ 11,462	$ 15,146

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) $ in Thousands	12 Months Ended
	Aug. 31, 2023 USD ($) Executive CompensationYears	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 1,300	$ 1,200	$ 1,300
Number of former executives | Executive	5
Number of highest compensation years | CompensationYears	3
Discount rate, liability	5%	4.10%
Discount Rate, net periodic benefit cost	4.10%	2.60%	2.20%
Actuarial loss	$ (191)	$ (488)
Supplemental Employee Retirement Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss	$ 200

Retirement Plans (Schedule of A

Retirement Plans (Schedule of Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Retirement Benefits [Abstract]
Benefit obligation at beginning of year	$ 5,422	$ 6,284
Interest cost	$ 211	$ 156	$ 146
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Actuarial gain	$ (191)	$ (488)
Benefits paid	(530)	(530)
Benefit obligation at end of year	$ 4,912	$ 5,422	$ 6,284

Retirement Plans (Schedule of_2

Retirement Plans (Schedule of Amounts Recognized in Statement of Financial Position) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Retirement Benefits [Abstract]
Other current liabilities	$ 530	$ 530
Other non-current liabilities	4,382	4,892
Net amount recognized	$ 4,912	$ 5,422	$ 6,284

Retirement Plans (Schedule of B

Retirement Plans (Schedule of Before-tax Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Retirement Benefits [Abstract]
Net actuarial loss	$ (2,591)	$ (2,993)

Retirement Plans (Schedules of

Retirement Plans (Schedules of Net Benefit Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Retirement Benefits [Abstract]
Interest cost	$ 211	$ 156	$ 146
Net amortization and deferral	211	255	269
Total	$ 422	$ 411	$ 415

Retirement Plans (Schedule of E

Retirement Plans (Schedule of Expected Benefit Payments) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Retirement Benefits [Abstract]
2024	$ 514
2025	503
2026	490
2027	477
2028	462
Thereafter	2,466
Net amount recognized	$ 4,912	$ 5,422	$ 6,284

Warranties (Schedule of Product

Warranties (Schedule of Product Warranty Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Product Warranties Disclosures [Abstract]
Product warranty accrual balance, beginning of period	$ 14,080	$ 12,736
Liabilities accrued for warranties during the period	10,911	10,931
Warranty claims paid during the period	(10,456)	(9,393)
Changes in estimates	0	(194)
Product warranty accrual balance, end of period	$ 14,535	$ 14,080

Warranties (Narrative) (Details

Warranties (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Product Warranties Disclosures [Abstract]
Warranty costs	$ 10.9	$ 10.7	$ 7.4

Industry Segment Information (N

Industry Segment Information (Narrative) (Details)	12 Months Ended
	Aug. 31, 2023 Segment Customer	Aug. 31, 2022 Customer	Aug. 31, 2021 Customer
Segment Reporting Information [Line Items]
Number of reportable segments	2
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Segment Reporting Information [Line Items]
Number of major customers | Customer	0	0	0
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Minimum [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	10%	10%	10%
Irrigation [Member]
Segment Reporting Information [Line Items]
Number of operating segments	1
Infrastructure [Member]
Segment Reporting Information [Line Items]
Number of operating segments	1

Industry Segment Information (S

Industry Segment Information (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Segment Reporting Information [Line Items]
Total operating revenues	$ 674,084	$ 770,743	$ 567,646
Total operating income	102,184	94,643	54,107
Total other expense	(1,809)	(6,775)	(3,721)
Earnings before income taxes	100,375	87,868	50,386
Capital expenditures	18,775	15,595	26,511
Depreciation and amortization	19,282	20,178	19,177
Irrigation [Member]
Segment Reporting Information [Line Items]
Total operating revenues	586,031	665,829	471,358
Total operating income	121,969	105,763	63,181
Capital expenditures	13,043	10,679	19,188
Depreciation and amortization	12,834	13,011	12,245
Irrigation [Member] | North America [Member]
Segment Reporting Information [Line Items]
Total operating revenues	309,538	355,683	273,871
Irrigation [Member] | International [Member]
Segment Reporting Information [Line Items]
Total operating revenues	276,493	310,146	197,487
Infrastructure [Member]
Segment Reporting Information [Line Items]
Total operating revenues	88,053	104,914	96,288
Total operating income	12,067	18,328	20,174
Capital expenditures	5,287	3,798	6,866
Depreciation and amortization	4,023	3,781	3,748
Corporate Segment
Segment Reporting Information [Line Items]
Total operating income	(31,852)	(29,448)	(29,248)
Capital expenditures	445	1,118	457
Depreciation and amortization	$ 2,425	$ 3,386	$ 3,183

Industry Segment Information _2

Industry Segment Information (Schedule of Revenue by Geographical Areas) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 674,084	$ 770,743	$ 567,646
Geographic Concentration [Member] | Revenues [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 674,084	$ 770,743	$ 567,646
Percentage	100%	100%	100%
Geographic Concentration [Member] | Long-Lived Tangible Assets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage	100%	100%	100%
Long-lived tangible assets	$ 99,681	$ 94,472	$ 91,997
Geographic Concentration [Member] | United States [Member] | Revenues [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 347,238	$ 394,080	$ 307,313
Percentage	52%	51%	54%
Geographic Concentration [Member] | United States [Member] | Long-Lived Tangible Assets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage	77%	75%	74%
Long-lived tangible assets	$ 76,428	$ 70,643	$ 68,526
Geographic Concentration [Member] | International [Member] | Revenues [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 326,846	$ 376,663	$ 260,333
Percentage	48%	49%	46%
Geographic Concentration [Member] | International [Member] | Long-Lived Tangible Assets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage	23%	25%	26%
Long-lived tangible assets	$ 23,253	$ 23,829	$ 23,471

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ in Thousands	12 Months Ended
	Aug. 31, 2023 USD ($) Item shares	Aug. 31, 2022 USD ($) shares	Aug. 31, 2021 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax total unrecognized compensation cost related to nonvested share-based compensation | $	$ 8,200
Weighted average period to be recognized	1 year 9 months 18 days
Outstanding stock options vested	19,617	47,222	38,954
Shares outstanding	118,470	97,140
Share withheld for payroll tax obligations | $	$ 2,471	$ 1,181	$ 1,269
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Percentage vested per year	33%
Fair value vested | $	$ 3,700	$ 4,100
Number of shares vested	24,342
Restricted Stock Units Settled In Cash [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding	4,039	4,412	4,656
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Number of shares vested	9,344		0
Performance Stock Units [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	18,688	18,998
Performance Stock Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards actually earned	0%
Performance Stock Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards actually earned	2%
2015 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan effective date	Jan. 26, 2015
Maximum number of shares authorized	626,968
Number of shares available	217,146
Stock award ratio | Item	1
2015 Long-Term Incentive Plan [Member] | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expire, years	10 years
Vesting period	4 years
Non Employee Directors [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	9 months

Share-Based Compensation (Sched

Share-Based Compensation (Schedule of Share-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 6,698	$ 5,681	$ 6,528
Tax benefit	(1,574)	(1,335)	(1,534)
Share-based compensation expense, net of tax	5,124	4,346	4,994
Cost Of Operating Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	183	257	258
Engineering and Research [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	232	210	202
Selling [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	632	577	544
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	5,651	4,637	5,524
Operating Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 6,515	$ 5,424	$ 6,270

Share-Based Compensation (Sch_2

Share-Based Compensation (Schedule of Assumptions Used) (Details) - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate	4.40%	1.20%	0.50%
Dividend yield	0.90%	0.90%	1.10%
Expected life (years)	5 years	5 years	6 years
Volatility	35.70%	33.80%	32.80%
Weighted average grant-date fair value of options granted	$ 55.53	$ 41.80	$ 31.38

Share-Based Compensation (Summa

Share-Based Compensation (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock options outstanding, number of stock options	97,140
Granted, number of stock options	21,743
Exercised, number of stock options	(413)
Forfeited/cancelled, number of stock options	0
Stock options outstanding, number of stock options	118,470	97,140
Exercisable number of stock options	76,143
Stock options outstanding, average exercise price	$ 106.80
Granted, average exercise price	156.16
Exercised, average exercise price	76.37
Forfeited/cancelled, average exercise price	0
Stock options outstanding, average exercise price	115.96	$ 106.80
Exercisable average exercise price	$ 99.05
Aggregate intrinsic value outstanding	$ 5,203
Exercised aggregate intrinsic value	23
Forfeited/cancelled aggregate intrinsic value	0
Aggregate intrinsic value outstanding	2,139	$ 5,203
Exercisable aggregate intrinsic value	$ 2,072
Average remaining contractual term (years)	6 years 7 months 6 days	7 years
Exercisable average remaining contractual term (years)	5 years 6 months

Share-Based Compensation (Sum_2

Share-Based Compensation (Summary of Share Based Compensation Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-Based Payment Arrangement [Abstract]
Intrinsic value of stock options exercised	$ 23	$ 1,737	$ 2,125
Cash received from stock option exercises	32	2,894	3,965
Tax benefit realized from stock option exercises	$ 1	$ 140	$ 499
Weighted average grant-date fair value of stock options vested	$ 40.66	$ 34.19	$ 25.95

Share-Based Compensation (Sum_3

Share-Based Compensation (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units [Member]	12 Months Ended
	Aug. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units outstanding | shares	44,251
Granted, number of stock units | shares	24,123
Vested, number of stock units | shares	(24,342)
Forfeited/ cancelled, number of stock units | shares	(2,460)
Stock units outstanding | shares	41,572
Stock units, weighted-average grant-date fair value | $ / shares	$ 126.5
Granted, weighted-average grant-date fair value | $ / shares	151.38
Vested, weighted-average grant-date fair value | $ / shares	122.06
Forfeited/ cancelled, weighted-average grant-date fair value | $ / shares	140.26
Stock units, weighted-average grant-date fair value | $ / shares	$ 108.54

Share-Based Compensation (Sch_3

Share-Based Compensation (Schedule of Performance Stock Unit Activity) (Details) - Performance Stock Units [Member] - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units outstanding	32,358
Granted, number of stock units	14,496
Vested, number of stock units	(9,344)	0
Forfeited/ cancelled, number of stock units	0
Stock units outstanding	37,510
Stock units, weighted-average grant-date fair value	$ 127.78
Granted, weighted-average grant-date fair value	173.17
Vested, weighted-average grant-date fair value	102.28
Forfeited/ cancelled, weighted-average grant-date fair value	0
Stock units, weighted-average grant-date fair value	$ 151.67

Share-Based Compensation (Sch_4

Share-Based Compensation (Schedule of Assumptions Used to Estimate Fair Value of TSR Portion of Awards Granted) (Details)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years	5 years	6 years
Risk-free interest rate	4.40%	1.20%	0.50%
Volatility	35.70%	33.80%	32.80%
Dividend yield	0.90%	0.90%	1.10%
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	3 years	3 years	3 years
Risk-free interest rate	4.50%	0.70%	0.20%
Volatility	38.60%	39.10%	38.60%
Dividend yield	0.90%	0.90%	1.20%

Share Repurchases (Narrative) (

Share Repurchases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Equity [Abstract]
Repurchase authorization amount	$ 250
Number of shares of common stock repurchased during the period	0	0	0
Remaining amount available under the repurchase program	$ 63.7

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Allowance For Doubtful Accounts [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 4,118	$ 3,422	$ 2,780
Charges to costs and expenses	881	903	771
Charged to other accounts	0	0	0
Deductions	(49)	207	129
Balance at end of period	5,048	4,118	3,422
Deferred Tax Asset Valuation Allowance [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	1,203	1,091	3,218
Charges to costs and expenses	0	0	206
Charged to other accounts	0	112	0
Deductions	(712)	0	2,333
Balance at end of period	$ 491	$ 1,203	$ 1,091