Lindsay (LNN) 10-Q 21 Dec 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Nov. 30, 2016	Dec. 16, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	lnn
Entity Registrant Name	LINDSAY CORP
Entity Central Index Key	836,157
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		10,653,479

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Condensed Consolidated Statements Of Operations [Abstract]
Operating revenues	$ 110,390	$ 121,622
Cost of operating revenues	82,016	87,208
Gross profit	28,374	34,414
Operating expenses:
Selling expense	9,982	9,992
General and administrative expense	11,355	9,015
Engineering and research expense	4,302	3,659
Total operating expenses	25,639	22,666
Operating income	2,735	11,748
Other income (expense):
Interest expense	(1,209)	(1,196)
Interest income	165	164
Other expense, net	(356)	(320)
Earnings before income taxes	1,335	10,396
Income tax expense	462	3,452
Net earnings	$ 873	$ 6,944
Earnings per share:
Basic	$ 0.08	$ 0.62
Diluted	$ 0.08	$ 0.62
Shares used in computing earnings per share:
Basic	10,638	11,259
Diluted	10,666	11,288
Cash dividends declared per share	$ 0.29	$ 0.28

Condensed Consolidated Stateme3

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net earnings	$ 873	$ 6,944
Other comprehensive income (loss):
Defined benefit pension plan adjustment, net of tax	37	5
Foreign currency translation adjustment, net of hedging activities and tax	(1,434)	(1,566)
Total other comprehensive loss, net of tax expense of $566 and $644, respectively	(1,397)	(1,561)
Total comprehensive (loss) income	$ (524)	$ 5,383

Condensed Consolidated Stateme4

Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Other comprehensive loss, tax expense	$ 566	$ 644

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Current assets:
Cash and cash equivalents	$ 103,058	$ 101,246	$ 129,260
Restricted cash		2,030	2,027
Receivables, net of allowance of $7,808, $8,485 and $8,312, respectively	69,774	80,610	70,403
Inventories, net	80,139	74,750	78,246
Prepaid expenses	3,295	3,671	3,570
Other current assets	18,622	14,468	12,897
Total current assets	274,888	276,775	296,403
Property, plant, and equipment:
Cost	182,848	182,696	183,630
Less accumulated depreciation	(107,287)	(105,069)	(104,641)
Property, plant and equipment, net	75,561	77,627	78,989
Intangibles, net	45,998	47,200	50,598
Goodwill	76,562	76,803	76,497
Deferred income tax assets	3,134	4,225	3,242
Other noncurrent assets	4,800	4,885	5,540
Total assets	480,943	487,515	511,269
Current liabilities:
Accounts payable	32,533	32,268	39,106
Current portion of long-term debt	198	197	194
Other current liabilities	51,866	55,395	48,254
Total current liabilities	84,597	87,860	87,554
Pension benefits liabilities	6,789	6,869	6,500
Long-term debt	116,926	116,976	117,124
Deferred income tax liabilities	2,338	1,223	8,237
Other noncurrent liabilities	22,105	23,020	10,162
Total liabilities	232,755	235,948	229,577
Shareholders' equity:
Preferred stock of $1 par value - authorized 2,000 shares; no shares issued and outstanding
Common stock at $1 par value - authorized 25,000 shares; 18,737, 18,713 and 18,713 shares issued, respectively	18,737	18,713	18,713
Capital in excess of stated value	57,548	57,338	55,287
Retained earnings	464,710	466,926	462,713
Less treasury stock - at cost, 8,083, 7,531 and 8,083 shares, respectively	(277,238)	(277,238)	(238,152)
Accumulated other comprehensive loss, net	(15,569)	(14,172)	(16,869)
Total shareholders' equity	248,188	251,567	281,692
Total liabilities and shareholders' equity	$ 480,943	$ 487,515	$ 511,269

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Condensed Consolidated Balance Sheets [Abstract]
Receivables, allowance	$ 7,808	$ 8,312	$ 8,485
Preferred stock, par value	$ 1	$ 1	$ 1
Preferred stock, authorized	2,000,000	2,000,000	2,000,000
Preferred stock, issued	0	0	0
Preferred stock, outstanding	0	0	0
Common stock, par value	$ 1	$ 1	$ 1
Common stock, authorized	25,000,000	25,000,000	25,000,000
Common stock, issued	18,737,000	18,713,000	18,713,000
Treasury stock, shares	8,083,000	8,083,000	7,531,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 873	$ 6,944
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	4,035	4,295
Provision for uncollectible accounts receivable	(255)	153
Deferred income taxes	1,541	2,060
Share-based compensation expense	935	906
Other, net	388	1,648
Changes in assets and liabilities:
Receivables	10,436	2,503
Inventories	(5,741)	(3,749)
Other current assets	3,000	982
Accounts payable	415	733
Other current liabilities	(2,232)	(6,322)
Current income taxes payable	(4,344)	(1,036)
Other noncurrent assets and liabilities	(947)	(614)
Net cash provided by operating activities	8,104	8,503
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(1,390)	(4,705)
Proceeds from settlement of net investment hedges		231
Payments for settlement of net investment hedges	(159)	(512)
Other investing activities, net	134	749
Net cash used in investing activities	(1,415)	(4,237)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options		72
Common stock withheld for payroll tax withholdings	(635)	(719)
Principal payments on long-term debt	(49)	(48)
Repurchase of common shares		(9,249)
Dividends paid	(3,089)	(3,134)
Net cash used in financing activities	(3,773)	(13,078)
Effect of exchange rate changes on cash and cash equivalents	(1,104)	(1,021)
Net change in cash and cash equivalents	1,812	(9,833)
Cash and cash equivalents, beginning of period	101,246	139,093
Cash and cash equivalents, end of period	103,058	129,260
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid	3,061	4,897
Interest paid	$ 97	$ 70

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	3 Months Ended
	Nov. 30, 2016
Condensed Consolidated Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Note 1 – Condensed Consolidated Financial Statements  The condensed consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission and do not include all of the disclosures normally required by U.S. generally accepted accounting principles (“U.S. GAAP”) as contained in Lindsay Corporation’s (the “Company”) Annual Report on Form 10-K. Accordingly, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended August 31, 2016 .  In the opinion of management, the condensed consolidated financial statements of the Company reflect all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position and the results of operations and cash flows for the periods presented. The results for interim periods are not necessarily indicative of trends or results expected by the Company for a full year. The condensed consolidated financial statements were prepared using U.S. GAAP. These principles require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ from these estimates. Certain reclassifications have been made to prior financial statements and notes to conform to the current year presentation.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Nov. 30, 2016
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	Note 2 – New Accounting Pronouncements  In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date. The standard provides a single model for revenue arising from contracts with customers and supersedes current revenue recognition guidance. The ASU requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of goods or services. The ASU will replace existing revenue recognition guidance in U.S. GAAP and becomes effective in the first quarter of fiscal 2019. Early adoption is permitted only in fiscal 2018. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is currently evaluating the impact the adoption will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method, nor has it determined the effect of the standard on its ongoing financial reporting.  In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes. The standard requires an entity to classify all deferred tax assets and liabilities as noncurrent. In addition, companies will no longer allocate valuation allowances between current and noncurrent because all deferred tax assets will be classified as noncurrent. The guidance allows companies to apply the update either on a retrospective or prospective basis. The Company has early adopted this ASU during the first quarter of fiscal 2017 on a retrospective basis. Accordingly, the Company reclassified current deferred tax assets and liabilities to non-current on its November 30, 2015 and August 31, 2016 condensed consolidated balance sheets, which increased net non-current deferred tax assets by $2.0 million and $3.3 million, respectively, and decreased non-current deferred tax liabilities by $10.3 million and $12.0 million, respectively. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard requires a lessee to recognize assets and liabilities arising from an operating lease on the balance sheet. Additionally, companies are permitted to make an accounting policy election to not recognize lease assets and liabilities for leases with a term of 12 months or less. The effective date of ASU No. 2016-02 will be the first quarter of fiscal 2020 with early adoption permitted. The Company is currently evaluating the effect that adopting this standard will have on its consolidated financial statements.  In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The standard provides guidance for employee share-based compensation payments, including the income tax consequences, classification of awards as either equity or liabilities and the classification on the statement of cash flows. The Company elected to early adopt this ASU as of the beginning of fiscal 2017. For the first quarter of fiscal 2017, the Company recognized all excess tax benefits and tax deficiencies as income tax expense or benefit in the quarter. An income tax benefit of approximately $0.1 million was recognized in the first quarter of fiscal 2017 as a result of the adoption of ASU 2016-09. Additionally, as required by the new guidance, when calculating diluted earnings per share, excess tax benefits were excluded from the calculation of assumed proceeds since such amounts are recognized in the income statement. ASU 2016-09 also allows an entity to elect, as an accounting policy, either to estimate the number of forfeited awards or to account for forfeitures as they occur. The Company has elected to account for forfeitures as they occur. This change did not have a material impact on estimated expense. The Company elected to present the cash flow statement on a retrospective transition method and prior periods have been adjusted to present the excess tax benefits as part of cash flows from operating activities. This resulted in an increase in cash flows from operating activities and a decrease in cash flows from financing activities of $0.1 million in the first quarter of fiscal 2016 .

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
	Nov. 30, 2016
Net Earnings Per Share [Abstract]
Net Earnings Per Share	Note 3 – Net Earnings per Share Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is calculated on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards and other dilutive securities.  The following table shows the computation of basic and diluted net earnings per share for the three months ended November 30, 2016 and November 30, 2015 :    Three months ended  November 30, November 30,  ($ and shares in thousands, except per share amounts) 2016 2015  Numerator:  Net earnings $ 873 $ 6,944   Denominator:  Weighted average shares outstanding 10,638 11,259  Diluted effect of stock awards 28 29  Weighted average shares outstanding assuming dilution 10,666 11,288   Basic net earnings per share $ 0.08 $ 0.62  Diluted net earnings per share $ 0.08 $ 0.62  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. In addition, the following table shows the securities excluded from the computation of earnings per share because their effect would have been anti-dilutive:     Three months ended  November 30, November 30,  (Units and options in thousands) 2016 2015  Restricted stock units 33 15  Stock options 148 63

Income Taxes

Income Taxes	3 Months Ended
	Nov. 30, 2016
Income Taxes [Abstract]
Income Taxes	Note 4 – Income Taxes  It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. However, the tax effects of significant or unusual items are not considered in the estimated annual effective income tax rate. The tax effects of such discrete events are recognized in the interim period in which the events occur. The Company recorded no material discrete items for the three months ended November 30, 2016 and November 30, 2015 .  The Company recorded income tax expense of $0.5 million and $3.5 million for the three months ended November 30, 2016 and November 30, 2015 , respectively. The estimated annual effective income tax rate was 34.6 percent and 33.2 percent for the fiscal year-to-date periods ended November 30, 2016 and November 30, 2015 , respectively. The increase in the estimated annual effective income tax rate from November 2015 to November 2016 primarily relates to the earnings mix among jurisdictions.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2016
Inventories [Abstract]
Inventories	Note 5 – Inventories  Inventories consisted of the following as of November 30, 2016 , November 30, 2015, and August 31, 2016 :     November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Raw materials and supplies $ 27,898 $ 26,611 $ 26,599  Work in process 8,001 8,623 5,742  Finished goods and purchased parts 49,917 48,569 47,805  Total inventory value before LIFO adjustment 85,816 83,803 80,146  Less adjustment to LIFO value (5,677) (5,557) (5,396)  Inventories, net $ 80,139 $ 78,246 $ 74,750 

Long-Term Debt

Long-Term Debt	3 Months Ended
	Nov. 30, 2016
Long-Term Debt [Abstract]
Long-Term Debt	Note 6 – Long-Term Debt  The following table sets forth the outstanding principal balances of the Company’s long-term debt as of the dates shown.     November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Series A Senior Notes $ 115,000 $ 115,000 $ 115,000  Revolving Credit Facility — — —  Elecsys Series 2006A Bonds 2,124 2,318 2,173  Total debt 117,124 117,318 117,173  Less current portion (198) (194) (197)  Total long-term debt $ 116,926 $ 117,124 $ 116,976   Principal payments on the debt are due as follows:    Due within $ in thousands  1 year $ 198  2 years 202  3 years 206  4 years 210  5 years 214  Thereafter 116,094  $ 117,124 

Financial Derivatives

Financial Derivatives	3 Months Ended
	Nov. 30, 2016
Financial Derivatives [Abstract]
Financial Derivatives	Note 7 – Financial Derivatives  The Company uses certain financial derivatives to mitigate its exposure to volatility in foreign currency exchange rates. The Company uses these derivative instruments to hedge exposures in the ordinary course of business and does not invest in derivative instruments for speculative purposes. 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 counterparties that have investment grade credit ratings. Fair values of derivative instruments are as follows:     Balance sheet November 30, November 30, August 31,  ($ in thousands) location 2016 2015 2016  Derivatives designated as hedging instruments:  Foreign currency forward contracts Other current assets $ 1,546 $ 2,092 $ 40  Foreign currency forward contracts Other current liabilities (204) (31) (385)  Total derivatives designated as hedging instruments $ 1,342 $ 2,061 $ (345)   Foreign currency forward contracts Other current assets $ 123 $ 63 $ 33  Foreign currency forward contracts Other current liabilities (48) (311) (210)  Total derivatives not designated as hedging instruments $ 75 $ (248) $ (177)   Accumulated other comprehensive income included realized and unrealized after-tax gains of $6.5 million, $6.7 million, and $5.6 million at November 30, 2016, November 30, 2015, and August 31, 2016, respectively, related to derivative contracts designated as hedging instruments.  Net Investment Hedging Relationships The amount of gain or (loss) recognized in other comprehensive income is as follows:    Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Foreign currency forward contracts, net of tax expense of $610 and $649 , respectively $ 918 $ 1,212  For the three months ended November 30, 2016 and November 30, 2015 , the Company settled foreign currency forward contracts resulting in an after-tax net loss of $0.1 million each quarter, which were included in other comprehensive income as part of a currency translation adjustment. There were no amounts recorded in the condensed consolidated statement of operations related to ineffectiveness of foreign currency forward contracts related to net investment hedges for the three months ended November 30, 2016 and November 30, 2015 .  At November 30, 2016 , November 30, 2015 and August 31, 2016 , the Company had outstanding Euro foreign currency forward contracts to sell 32.6 million Euro, 28.8 million Euro, and 32.6 million Euro, respectively, at fixed prices to settle during the next fiscal quarter. At November 30, 2016, November 30, 2015 , and August 31, 2016 , the Company had an outstanding South African Rand foreign currency forward contract to sell 43.0 million South African Rand at fixed prices to settle during the next fiscal quarter. The Company’s foreign currency forward contracts qualify as hedges of a net investment in foreign operations.  Derivatives Not Designated as Hedging Instruments The Company generally does not elect hedge accounting treatment for derivative contracts related to future settlements of foreign denominated intercompany receivables and payables. If the Company does not elect hedge accounting treatment for a derivative, the Company carries the derivative at its fair value in the condensed consolidated balance sheet and recognizes any subsequent changes in its fair value during a period through earnings in the condensed consolidated statement of operations. At November 30, 2016 , November 30, 2015 , and August 31, 2016 , the Company had $6.9 million, $ 9.6 million, and $ 8.2 million, respectively, of U.S. dollar equivalent of foreign currency forward contracts outstanding that are not designated as hedging instruments.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 8 – 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 November 30, 2016 , November 30, 2015, and August 31, 2016 , respectively. There were no transfers between any levels for the periods presented.     November 30, 2016  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 103,058 $ — $ — $ 103,058  Derivative assets — 1,669 — 1,669  Derivative liabilities — (252) — (252)   November 30, 2015  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 129,260 $ — $ — $ 129,260  Derivative assets — 2,155 — 2,155  Derivative liabilities — (342) — (342)   August 31, 2016  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 101,246 $ — $ — $ 101,246  Derivative assets — 73 — 73  Derivative liabilities — (595) — (595)  There were no required fair value adjustments for assets and liabilities measured at fair value on a non-recurring basis for the three months ended November 30, 2016 or November 30, 2015. 

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Nov. 30, 2016
Commitments And Contingencies [Abstract]
Commitments And Contingencies	Note 9 – 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 potential loss in excess of the amounts accrued would not have a material effect on the business or its consolidated financial statements. Such proceedings are exclusive of environmental remediation matters which are discussed separately below.  Environmental Remediation In 1992, the Company entered into a consent decree with the U.S. Environmental Protection Agency (the “EPA”) in which the Company committed to remediate environmental contamination of the groundwater that was discovered from 1982 through 1990 at and adjacent to its Lindsay, Nebraska facility (the “site”). The site was added to the EPA’s list of priority superfund sites in 1989. Between 1993 and 1995, remediation plans for the site were approved by the EPA and fully implemented by the Company. Since 1998, the primary remaining contamination at the site has been the presence of volatile organic compounds in the soil and groundwater. To date, the remediation process has consisted primarily of drilling wells into the aquifer and pumping water to the surface to allow these contaminants to be removed by aeration.  In fiscal 2012, the Company undertook an investigation to assess further potential site remediation and containment actions. In connection with the receipt of preliminary results of this investigation and other evaluations, the Company estimated that it would incur $7.2 million in remediation of source area contamination and operating costs and accrued that undiscounted amount. In addition to this source area, the Company determined that volatile organic compounds also existed under one of the manufacturing buildings on the site. Due to the location, the Company had not yet determined the extent of these compounds or the extent to which they were contributing to groundwater contamination. Based on the uncertainty of the remediation actions that might be required with respect to this affected area, the Company believed that meaningful estimates of costs or range of costs could not be made and accordingly were not accrued at that time.  In December 2014, the EPA requested that the Company prepare a feasibility study related to the site, including the area covered by the building, which resulted in a revision to the Company’s remediation timeline. In the first quarter of fiscal 2015, the Company accrued $1.5 million of incremental operating costs to reflect its updated timeline.  The Company began soil and groundwater testing in preparation for developing this feasibility study during the first quarter of fiscal 2016. During the second quarter of fiscal 2016, the Company completed its testing which clarified the extent of contamination, including the identification of a source of contamination near the manufacturing building that was not part of the area for which reserves were previously established. The Company, with the assistance of third-party environmental experts, developed and evaluated remediation alternatives, a proposed remediation plan, and estimated costs. Based on these estimates of future remediation and operating costs, the Company accrued an additional $13.0 million in the second quarter of fiscal 2016 and included the related expenses in general and administrative expenses in the condensed consolidated statement of operations.  The current estimated aggregate accrued cost of $18.8 million is based on consideration of several remediation options that would use different technologies, each of which the Company believes could be successful in meeting the long-term regulatory requirements of the site. The Company participated in a preliminary meeting with the EPA and the Nebraska Department of Environmental Quality (the “NDEQ”) during the third quarter of fiscal 2016 to review remediation alternatives and proposed plans for the site and submitted its remedial alternatives evaluation report to the EPA in August 2016. The proposed remediation plan is preliminary and has not been approved by the EPA or the NDEQ. Based on guidance from third-party environmental experts and further discussions with the EPA and the NDEQ, the Company anticipates that a definitive plan will not be agreed upon until later in fiscal 2017 or beyond. The Company accrues the anticipated cost of investigation and remediation when the obligation is probable and can be reasonably estimated. While the Company believes the current accrual is a good faith estimate of the long-term cost of remediation at this site based on the preliminary analysis currently available, the estimate of costs and their timing could change as a result of a number of factors, including (1) EPA and NDEQ input on the proposed remediation plan and any changes which they 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 become 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 currently accrued for this expense. 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 undiscounted environmental remediation liability classifications included in the balance sheet as of November 30, 2016, November 30, 2015, and August 31, 2016:   November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016   Other current liabilities $ 1,122 $ 1,343 $ 722  Other noncurrent liabilities 17,714 6,100 18,255  Total environmental remediation liabilities $ 18,836 $ 7,443 $ 18,977 

Warranties

Warranties	3 Months Ended
	Nov. 30, 2016
Warranties [Abstract]
Warranties	Note 10 – Warranties  The following table provides the changes in the Company’s product warranties:   Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Product warranty accrual balance, beginning of period $ 7,443 $ 7,271  Liabilities accrued for warranties during the period 1,001 1,357  Warranty claims paid during the period (1,202) (1,860)  Changes in estimates 330 (483)  Product warranty accrual balance, end of period $ 7,572 $ 6,285  

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Nov. 30, 2016
Share-Based Compensation [Abstract]
Share-Based Compensation	Note 11 – Share-Based Compensation  The Company’s current share-based compensation plans, approved by the stockholders of the Company, provides for awards of stock options, restricted shares, restricted stock units (“RSUs”), stock appreciation rights, performance shares and performance stock units (“PSUs”) to employees and non-employee directors of the Company. The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. Share-based compensation expense was $ 0.9 million for each of the three month periods ended November 30, 2016 and 2015.  The following table illustrates the type and fair value of the share-based compensation awards granted during the three month periods ended November 30, 2016 and 2015:    Three months ended November 30,  2016 2015  Number of units granted Weighted average grant-date fair value per award Number of units granted Weighted average grant-date fair value per award  Stock options 47,223 $ 26.25 39,999 $ 27.88  RSUs 37,033 $ 74.80 38,438 $ 64.37  PSUs 15,902 $ 74.80 16,466 $ 64.37   The RSUs granted during the three months ended November 30, 2016 and 2015 consisted of 3,634 and 3,496 , respectively of awards that will be settled in cash. The weighted average stock price on the date of the grant was $78.23 and $67.68 for 2016 and 2015, respectively.  The following table provides the assumptions used in determining the fair value of the stock options awarded during the three month periods ended November 30, 2016 and 2015:    Grant Year  2016 2015  Weighted-average dividend yield 1.5% 1.7%  Weighted-average volatility 36.5% 46.3%  Range of risk-free interest rates 1.5% 1.8%  Weighted-average expected lives 7 years 7 years

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Nov. 30, 2016
Other Current Liabilities [Abstract]
Other Current Liabilities	Note 12 – Other Current Liabilities      November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Other current liabilities:  Compensation and benefits $ 14,154 $ 12,752 $ 19,044  Warranties 7,572 6,285 7,443  Deferred revenues 7,227 5,709 7,594  Customer deposits 4,648 4,843 3,399  Dealer related liabilities 3,384 4,822 4,978  Tax related liabilities 3,592 3,255 4,200  Other 11,289 10,588 8,737  Total other current liabilities $ 51,866 $ 48,254 $ 55,395

Share Repurchases

Share Repurchases	3 Months Ended
	Nov. 30, 2016
Share Repurchases [Abstract]
Share Repurchases	Note 13 – Share Repurchases  In accordance with its share repurchase program, the Company repurchased 136,263 shares of common stock for an aggregate purchase price of $9.2 million during the three months ended November 30, 2015 . There were no share repurchases during the three months ended November 30, 2016. The remaining amount available under the repurchase program was $63.7 million as of November 30, 2016 . 

Industry Segment Information

Industry Segment Information	3 Months Ended
	Nov. 30, 2016
Industry Segment Information [Abstract]
Industry Segment Information	Note 14 – Industry Segment Information  The Company manages its business activities in two reportable segments: irrigation and infrastructure. 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 includes 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. The Company had no single customer who represented 10 percent or more of its total revenues during the three month periods ended November 30, 2016 and November 30, 2015 .  Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems as well as various water pumping stations, controls, filtration solutions and machine-to-machine (“M2M”) technology. The irrigation reporting segment consists of three operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution.  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 manufacture and sale of large diameter steel tubing and railroad signals and structures; and the provision of outsourced manufacturing and production services. The infrastructure reporting segment consists of one operating segment.    Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Operating revenues:  Irrigation $ 89,852 $ 101,327  Infrastructure 20,538 20,295  Total operating revenues $ 110,390 $ 121,622   Operating income:  Irrigation $ 5,150 $ 12,692  Infrastructure 2,974 3,082  Segment operating income 8,124 15,774   Unallocated general and administrative expenses (5,389) (4,026)  Interest and other expense, net (1,400) (1,352)  Earnings before income taxes $ 1,335 $ 10,396   Capital expenditures:  Irrigation $ 950 $ 3,152  Infrastructure 440 1,553  Corporate — —  $ 1,390 $ 4,705  Depreciation and amortization:  Irrigation $ 2,823 $ 2,953  Infrastructure 1,109 1,201  Corporate 103 141  $ 4,035 $ 4,295       November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Total assets:  Irrigation $ 340,711 $ 335,920 $ 341,972  Infrastructure 80,002 78,551 83,531  Corporate 60,230 96,798 62,012  $ 480,943 $ 511,269 $ 487,515  

New Accounting Pronouncements (

New Accounting Pronouncements (Policy)	3 Months Ended
	Nov. 30, 2016
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date. The standard provides a single model for revenue arising from contracts with customers and supersedes current revenue recognition guidance. The ASU requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of goods or services. The ASU will replace existing revenue recognition guidance in U.S. GAAP and becomes effective in the first quarter of fiscal 2019. Early adoption is permitted only in fiscal 2018. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is currently evaluating the impact the adoption will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method, nor has it determined the effect of the standard on its ongoing financial reporting.  In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes. The standard requires an entity to classify all deferred tax assets and liabilities as noncurrent. In addition, companies will no longer allocate valuation allowances between current and noncurrent because all deferred tax assets will be classified as noncurrent. The guidance allows companies to apply the update either on a retrospective or prospective basis. The Company has early adopted this ASU during the first quarter of fiscal 2017 on a retrospective basis. Accordingly, the Company reclassified current deferred tax assets and liabilities to non-current on its November 30, 2015 and August 31, 2016 condensed consolidated balance sheets, which increased net non-current deferred tax assets by $2.0 million and $3.3 million, respectively, and decreased non-current deferred tax liabilities by $10.3 million and $12.0 million, respectively. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard requires a lessee to recognize assets and liabilities arising from an operating lease on the balance sheet. Additionally, companies are permitted to make an accounting policy election to not recognize lease assets and liabilities for leases with a term of 12 months or less. The effective date of ASU No. 2016-02 will be the first quarter of fiscal 2020 with early adoption permitted. The Company is currently evaluating the effect that adopting this standard will have on its consolidated financial statements.  In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The standard provides guidance for employee share-based compensation payments, including the income tax consequences, classification of awards as either equity or liabilities and the classification on the statement of cash flows. The Company elected to early adopt this ASU as of the beginning of fiscal 2017. For the first quarter of fiscal 2017, the Company recognized all excess tax benefits and tax deficiencies as income tax expense or benefit in the quarter. An income tax benefit of approximately $0.1 million was recognized in the first quarter of fiscal 2017 as a result of the adoption of ASU 2016-09. Additionally, as required by the new guidance, when calculating diluted earnings per share, excess tax benefits were excluded from the calculation of assumed proceeds since such amounts are recognized in the income statement. ASU 2016-09 also allows an entity to elect, as an accounting policy, either to estimate the number of forfeited awards or to account for forfeitures as they occur. The Company has elected to account for forfeitures as they occur. This change did not have a material impact on estimated expense. The Company elected to present the cash flow statement on a retrospective transition method and prior periods have been adjusted to present the excess tax benefits as part of cash flows from operating activities. This resulted in an increase in cash flows from operating activities and a decrease in cash flows from financing activities of $0.1 million in the first quarter of fiscal 2016

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
	Nov. 30, 2016
Net Earnings Per Share [Abstract]
Schedule Of Computation Of Basic And Diluted Net Earnings Per Share	  Three months ended  November 30, November 30,  ($ and shares in thousands, except per share amounts) 2016 2015  Numerator:  Net earnings $ 873 $ 6,944   Denominator:  Weighted average shares outstanding 10,638 11,259  Diluted effect of stock awards 28 29  Weighted average shares outstanding assuming dilution 10,666 11,288   Basic net earnings per share $ 0.08 $ 0.62  Diluted net earnings per share $ 0.08 $ 0.62 
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share	  Three months ended  November 30, November 30,  (Units and options in thousands) 2016 2015  Restricted stock units 33 15  Stock options 148 63 

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2016
Inventories [Abstract]
Schedule Of Inventories	   November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Raw materials and supplies $ 27,898 $ 26,611 $ 26,599  Work in process 8,001 8,623 5,742  Finished goods and purchased parts 49,917 48,569 47,805  Total inventory value before LIFO adjustment 85,816 83,803 80,146  Less adjustment to LIFO value (5,677) (5,557) (5,396)  Inventories, net $ 80,139 $ 78,246 $ 74,750  

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Nov. 30, 2016
Long-Term Debt [Abstract]
Schedule Of Long-Term Debt	   November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Series A Senior Notes $ 115,000 $ 115,000 $ 115,000  Revolving Credit Facility — — —  Elecsys Series 2006A Bonds 2,124 2,318 2,173  Total debt 117,124 117,318 117,173  Less current portion (198) (194) (197)  Total long-term debt $ 116,926 $ 117,124 $ 116,976  
Schedule Of Principal Payments Due On Long-Term Debt	  Due within $ in thousands  1 year $ 198  2 years 202  3 years 206  4 years 210  5 years 214  Thereafter 116,094  $ 117,124  

Financial Derivatives (Tables)

Financial Derivatives (Tables)	3 Months Ended
	Nov. 30, 2016
Financial Derivatives [Abstract]
Schedule Of Financial Derivatives	   Balance sheet November 30, November 30, August 31,  ($ in thousands) location 2016 2015 2016  Derivatives designated as hedging instruments:  Foreign currency forward contracts Other current assets $ 1,546 $ 2,092 $ 40  Foreign currency forward contracts Other current liabilities (204) (31) (385)  Total derivatives designated as hedging instruments $ 1,342 $ 2,061 $ (345)   Foreign currency forward contracts Other current assets $ 123 $ 63 $ 33  Foreign currency forward contracts Other current liabilities (48) (311) (210)  Total derivatives not designated as hedging instruments $ 75 $ (248) $ (177)  
Schedule Of Derivative Instruments, Effect On Other Comprehensive Income (Loss)	  Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Foreign currency forward contracts, net of tax expense of $610 and $649 , respectively $ 918 $ 1,212 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2016
Fair Value Measurements [Abstract]
Schedule Of Financial Assets And Liabilities Measured At Fair Value	   November 30, 2016  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 103,058 $ — $ — $ 103,058  Derivative assets — 1,669 — 1,669  Derivative liabilities — (252) — (252)   November 30, 2015  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 129,260 $ — $ — $ 129,260  Derivative assets — 2,155 — 2,155  Derivative liabilities — (342) — (342)   August 31, 2016  ($ in thousands) Level 1 Level 2 Level 3 Total  Cash and cash equivalents $ 101,246 $ — $ — $ 101,246  Derivative assets — 73 — 73  Derivative liabilities — (595) — (595)  

Commitments And Contingencies (

Commitments And Contingencies (Tables)	3 Months Ended
	Nov. 30, 2016
Commitments And Contingencies [Abstract]
Summary Of Undiscounted Environmental Remediation Liability Classifications	  November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016   Other current liabilities $ 1,122 $ 1,343 $ 722  Other noncurrent liabilities 17,714 6,100 18,255  Total environmental remediation liabilities $ 18,836 $ 7,443 $ 18,977  

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Nov. 30, 2016
Warranties [Abstract]
Schedule Of Product Warranty Liability	The following table provides the changes in the Company’s product warranties:   Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Product warranty accrual balance, beginning of period $ 7,443 $ 7,271  Liabilities accrued for warranties during the period 1,001 1,357  Warranty claims paid during the period (1,202) (1,860)  Changes in estimates 330 (483)  Product warranty accrual balance, end of period $ 7,572 $ 6,285  

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	3 Months Ended
	Nov. 30, 2016
Share-Based Compensation [Abstract]
Summary Of Type And Fair Value Of Share-Based Compensation Awards	  Three months ended November 30,  2016 2015  Number of units granted Weighted average grant-date fair value per award Number of units granted Weighted average grant-date fair value per award  Stock options 47,223 $ 26.25 39,999 $ 27.88  RSUs 37,033 $ 74.80 38,438 $ 64.37  PSUs 15,902 $ 74.80 16,466 $ 64.37 
Schedule Of Assumptions Used	  Grant Year  2016 2015  Weighted-average dividend yield 1.5% 1.7%  Weighted-average volatility 36.5% 46.3%  Range of risk-free interest rates 1.5% 1.8%  Weighted-average expected lives 7 years 7 years 

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Nov. 30, 2016
Other Current Liabilities [Abstract]
Schedule Of Other Liabilities Current	  November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Other current liabilities:  Compensation and benefits $ 14,154 $ 12,752 $ 19,044  Warranties 7,572 6,285 7,443  Deferred revenues 7,227 5,709 7,594  Customer deposits 4,648 4,843 3,399  Dealer related liabilities 3,384 4,822 4,978  Tax related liabilities 3,592 3,255 4,200  Other 11,289 10,588 8,737  Total other current liabilities $ 51,866 $ 48,254 $ 55,395 

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Nov. 30, 2016
Industry Segment Information [Abstract]
Schedule Of Segment Reporting Information, By Segment	   Three months ended  November 30, November 30,  ($ in thousands) 2016 2015  Operating revenues:  Irrigation $ 89,852 $ 101,327  Infrastructure 20,538 20,295  Total operating revenues $ 110,390 $ 121,622   Operating income:  Irrigation $ 5,150 $ 12,692  Infrastructure 2,974 3,082  Segment operating income 8,124 15,774   Unallocated general and administrative expenses (5,389) (4,026)  Interest and other expense, net (1,400) (1,352)  Earnings before income taxes $ 1,335 $ 10,396   Capital expenditures:  Irrigation $ 950 $ 3,152  Infrastructure 440 1,553  Corporate — —  $ 1,390 $ 4,705  Depreciation and amortization:  Irrigation $ 2,823 $ 2,953  Infrastructure 1,109 1,201  Corporate 103 141  $ 4,035 $ 4,295       November 30, November 30, August 31,  ($ in thousands) 2016 2015 2016  Total assets:  Irrigation $ 340,711 $ 335,920 $ 341,972  Infrastructure 80,002 78,551 83,531  Corporate 60,230 96,798 62,012  $ 480,943 $ 511,269 $ 487,515  

New Accounting Pronouncements33

New Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease non current deferred tax liabilities	$ 2,338	$ 8,237	$ 1,223
Income tax benefit	462	3,452
New Accounting Pronouncement, Early Adoption [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to net non-current deferred tax assets		2,000	3,300
Decrease non current deferred tax liabilities		10,300	$ 12,000
Income tax benefit	$ 100
Increase in operating activities and decrease from financing activities		$ 100

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	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Net Earnings Per Share [Abstract]
Net earnings	$ 873	$ 6,944
Weighted average shares outstanding	10,638	11,259
Diluted effect of stock awards	28	29
Weighted average shares outstanding assuming dilution	10,666	11,288
Basic net earnings per share	$ 0.08	$ 0.62
Diluted net earnings per share	$ 0.08	$ 0.62

Net Earnings Per Share (Sched35

Net Earnings Per Share (Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of earnings per share	33	15
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of earnings per share	148	63

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Income Taxes [Abstract]
Tax adjustment for unusual items	$ 0	$ 0
Income tax expense	$ 462	$ 3,452
Estimated effective income tax rate	34.60%	33.20%

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Inventories [Abstract]
Raw materials and supplies	$ 27,898	$ 26,599	$ 26,611
Work in process	8,001	5,742	8,623
Finished goods and purchased parts	49,917	47,805	48,569
Total inventory value before LIFO adjustment	85,816	80,146	83,803
Less adjustment to LIFO value	(5,677)	(5,396)	(5,557)
Inventories, net	$ 80,139	$ 74,750	$ 78,246

Long-Term Debt (Schedule Of Lon

Long-Term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Debt Instrument [Line Items]
Long-term debt	$ 117,124	$ 117,173	$ 117,318
Less current portion	(198)	(197)	(194)
Total long-term debt	116,926	116,976	117,124
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	0	0	0
Elecsys Series 2006A Bonds [Member]
Debt Instrument [Line Items]
Long-term debt	2,124	2,173	2,318
Series A Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 115,000	$ 115,000	$ 115,000

Long-Term Debt (Schedule Of Pri

Long-Term Debt (Schedule Of Principal Payments Due On Long-Term Debt) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Long-Term Debt [Abstract]
1 year	$ 198
2 years	202
3 years	206
4 years	210
5 years	214
Thereafter	116,094
Long-term debt	$ 117,124	$ 117,173	$ 117,318

Financial Derivatives (Narrativ

Financial Derivatives (Narrative) (Details) € in Millions, ZAR in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Nov. 30, 2016USD ($)	Nov. 30, 2015USD ($)	Aug. 31, 2016USD ($)	Nov. 30, 2016ZAR	Nov. 30, 2016EUR (€)	Aug. 31, 2016ZAR	Aug. 31, 2016EUR (€)	Nov. 30, 2015ZAR	Nov. 30, 2015EUR (€)
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Foreign currency translation forward contracts, after tax net gains (losses)	$ 0.1	$ 0.1
Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Realized and unrealized gains, net of related income tax effects	6.5	6.7	$ 5.6
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Foreign currency translation forward contracts, after tax net gains (losses)	0	0
Outstanding foreign currency forward contracts				ZAR 43	€ 32.6	ZAR 43	€ 32.6	ZAR 43	€ 28.8
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Outstanding foreign currency forward contracts	$ 6.9	$ 9.6	$ 8.2

Financial Derivatives (Schedule

Financial Derivatives (Schedule Of Financial Derivatives) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	$ 1,342	$ (345)	$ 2,061
Derivatives Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	1,546	40	2,092
Derivatives Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(204)	(385)	(31)
Derivatives Not Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	75	(177)	(248)
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	123	33	63
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ (48)	$ (210)	$ (311)

Financial Derivatives (Schedu42

Financial Derivatives (Schedule Of Derivative Instruments, Effect On Other Comprehensive Income (Loss)) (Details) - Foreign Currency Forward Contracts [Member] - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, net of tax expense	$ 918	$ 1,212
Tax expense	$ 610	$ 649

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Assets fair value adjustments	$ 0	$ 0
Liabilites fair value adjustments	$ 0	$ 0

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Financial Assets And Liabilities Measured At Fair Value) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015	Aug. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 103,058	$ 101,246	$ 129,260	$ 139,093
Derivative assets	1,669	73	2,155
Derivative liabilities	(252)	(595)	(342)
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	103,058	101,246	129,260
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,669	73	2,155
Derivative liabilities	(252)	(595)	(342)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Derivative assets
Derivative liabilities

Commitments And Contingencies45

Commitments And Contingencies (Narrative) (Details) - Lindsay, Nebraska Facility [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Feb. 29, 2016	Nov. 30, 2014	Aug. 31, 2012	Nov. 30, 2016
Site Contingency [Line Items]
Environmental Remediation Expense	$ 13	$ 1.5	$ 7.2
Current environmental remediation accrual				$ 18.8

Commitments And Contingencies46

Commitments And Contingencies (Summary Of Undiscounted Environmental Remediation Liability Classifications) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Commitments And Contingencies [Abstract]
Other current liabilities	$ 1,122	$ 722	$ 1,343
Other noncurrent liabilities	17,714	18,255	6,100
Total environmental remediation liabilities	$ 18,836	$ 18,977	$ 7,443

Warranties (Schedule Of Product

Warranties (Schedule Of Product Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Warranties [Abstract]
Product warranty accrual balance, beginning of period	$ 7,443	$ 7,271
Liabilities accrued for warranties during the period	1,001	1,357
Warranty claims paid during the period	(1,202)	(1,860)
Changes in estimates	330	(483)
Product warranty accrual balance, end of period	$ 7,572	$ 6,285

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 0.9	$ 0.9
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be settled in cash	3,634	3,496
Weighted average grant-date stock price of awards to be settled in cash	$ 78.23	$ 67.68

Share-Based Compensation (Summa

Share-Based Compensation (Summary Of Type And Fair Value Of Share-Based Compensation Awards) (Details) - $ / shares	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Stock Options [Member]
Number of shares granted	47,223	39,999
Weighted average grant-date fair value	$ 26.25	$ 27.88
Restricted Stock Units [Member]
Number of shares granted	37,033	38,438
Weighted average grant-date fair value	$ 74.80	$ 64.37
Performance Stock Units [Member]
Number of shares granted	15,902	16,466
Weighted average grant-date fair value	$ 74.80	$ 64.37

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Assumptions Used) (Details)	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Share-Based Compensation [Abstract]
Weighted-average dividend yield	1.50%	1.70%
Weighted-average volatility	36.50%	46.30%
Range of risk-free interest rates	1.50%	1.80%
Weighted-average expected lives	7 years	7 years

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Liabilities Current) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Other Current Liabilities [Abstract]
Compensation and benefits	$ 14,154	$ 19,044	$ 12,752
Warranties	7,572	7,443	6,285
Deferred revenues	7,227	7,594	5,709
Customer deposits	4,648	3,399	4,843
Dealer related liabilities	3,384	4,978	4,822
Tax related liabilities	3,592	4,200	3,255
Other	11,289	8,737	10,588
Total other current liabilities	$ 51,866	$ 55,395	$ 48,254

Share Repurchases (Narrative) (

Share Repurchases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Share Repurchases [Abstract]
Number of shares of common stock repurchased during the period	0	136,263
Aggregate purchase price of shares repurchased		$ 9.2
Remaining amount available under the repurchase program	$ 63.7

Industry Segment Information (N

Industry Segment Information (Narrative) (Details) - segment	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Segment Reporting Information [Line Items]
Number of reportable segments	2
Sales Revenue, Net [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	10.00%	10.00%
Irrigation [Member]
Segment Reporting Information [Line Items]
Number of operating segments	3
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	3 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Aug. 31, 2016
Segment Reporting Information [Line Items]
Total operating revenues	$ 110,390	$ 121,622
Segment operating income	2,735	11,748
Unallocated general and administrative expenses	(11,355)	(9,015)
Earnings before income taxes	1,335	10,396
Capital expenditures	1,390	4,705
Depreciation and amortization	4,035	4,295
Assets	480,943	511,269	$ 487,515
Irrigation [Member]
Segment Reporting Information [Line Items]
Capital expenditures	950	3,152
Depreciation and amortization	2,823	2,953
Assets	340,711	335,920	341,972
Infrastructure [Member]
Segment Reporting Information [Line Items]
Capital expenditures	440	1,553
Depreciation and amortization	1,109	1,201
Assets	80,002	78,551	83,531
Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	103	141
Assets	60,230	96,798	$ 62,012
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating revenues	110,390	121,622
Segment operating income	8,124	15,774
Operating Segments [Member] | Irrigation [Member]
Segment Reporting Information [Line Items]
Total operating revenues	89,852	101,327
Segment operating income	5,150	12,692
Operating Segments [Member] | Infrastructure [Member]
Segment Reporting Information [Line Items]
Total operating revenues	20,538	20,295
Segment operating income	2,974	3,082
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Unallocated general and administrative expenses	(5,389)	(4,026)
Interest and other expense, net	(1,400)	(1,352)
Earnings before income taxes	$ 1,335	$ 10,396