Lindsay (LNN) 10-Q 9 Jan 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Nov. 30, 2018	Dec. 22, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2018
Document Fiscal Year Focus	2,019
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 Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		10,786,339

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Income Statement [Abstract]
Operating revenues	$ 111,951	$ 124,526
Cost of operating revenues	83,303	92,129
Gross profit	28,648	32,397
Operating expenses:
Selling expense	7,982	10,225
General and administrative expense	15,058	11,918
Engineering and research expense	3,568	4,053
Total operating expenses	26,608	26,196
Operating income	2,040	6,201
Other income (expense):
Interest expense	(1,205)	(1,181)
Interest income	654	320
Other (expense) income, net	192	(548)
Earnings before income taxes	1,681	4,792
Income tax expense	469	1,607
Net earnings	$ 1,212	$ 3,185
Earnings per share:
Basic	$ 0.11	$ 0.30
Diluted	$ 0.11	$ 0.30
Shares used in computing earnings per share:
Basic	10,766	10,705
Diluted	10,806	10,740
Cash dividends declared per share	$ 0.31	$ 0.30

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 1,212	$ 3,185
Other comprehensive income (loss):
Defined benefit pension plan adjustment, net of tax	29	32
Foreign currency translation adjustment, net of hedging activities and tax	1,106	(1,034)
Total other comprehensive (loss) income, net of tax expense of $226 and $32, respectively	1,135	(1,002)
Total comprehensive income	$ 2,347	$ 2,183

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Other comprehensive income, tax expense	$ 226	$ 32

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Current assets:
Cash and cash equivalents	$ 137,217	$ 160,787	$ 109,450
Receivables, net of allowance of $3,324, $7,524, and $3,585, respectively	84,864	69,107	79,774
Inventories, net	88,912	79,233	93,994
Prepaid expenses	3,199	3,883	3,555
Assets held-for-sale	2,744	10,837
Other current assets	8,386	7,204	9,461
Total current assets	325,322	331,051	296,234
Property, plant, and equipment:
Cost	176,669	171,450	190,028
Less accumulated depreciation	(116,187)	(114,202)	(117,088)
Property, plant, and equipment, net	60,482	57,248	72,940
Intangibles, net	26,576	27,376	41,702
Goodwill	64,557	64,671	77,127
Deferred income tax assets	5,639	6,645	3,111
Other noncurrent assets	19,943	13,265	12,293
Total assets	502,519	500,256	503,407
Current liabilities:
Accounts payable	41,338	30,530	41,046
Current portion of long-term debt	206	205	202
Liabilities held-for-sale		2,424
Other current liabilities	41,480	46,935	48,875
Total current liabilities	83,024	80,094	90,123
Pension benefits liabilities	5,803	5,874	6,223
Long-term debt	116,518	116,570	116,724
Deferred income tax liabilities	1,048	1,083	1,649
Other noncurrent liabilities	19,451	19,769	19,456
Total liabilities	225,844	223,390	234,175
Shareholders' equity:
Preferred stock of $1 par value - Authorized 2,000 shares; no shares issued and outstanding
Common stock of $1 par value - authorized 25,000 shares; 18,870, 18,805, and 18,841 shares issued, respectively	18,870	18,841	18,805
Capital in excess of stated value	68,710	68,465	63,191
Retained earnings	483,811	484,886	477,584
Less treasury stock - at cost, 8,083 shares	(277,238)	(277,238)	(277,238)
Accumulated other comprehensive loss, net	(17,478)	(18,088)	(13,110)
Total shareholders' equity	276,675	276,866	269,232
Total liabilities and shareholders' equity	$ 502,519	$ 500,256	$ 503,407

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Statement Of Financial Position [Abstract]
Receivables, allowance	$ 3,324	$ 3,585	$ 7,524
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	18,870,000	18,841,000	18,805,000
Treasury stock, shares	8,083,000	8,083,000	8,083,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Shareholders' Equity - 3 months ended Nov. 30, 2018 - 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) Income, Net [Member]
Beginning balance, value at Aug. 31, 2018	$ 276,866	$ 18,841	$ (277,238)	$ 68,465	$ 484,886	$ (18,088)
Beginning balance, shares at Aug. 31, 2018		18,841	8,083
Net earnings	1,212				1,212
Other comprehensive income	1,135					1,135
Total comprehensive income	2,347
Cash dividends per share	(3,344)				(3,344)
Issuance of common shares under share compensation plans, net, value	(943)	$ 29		(972)
Issuance of common shares under share compensation plans, net, shares		29
Share-based compensation expense	1,217			1,217
Cumulative impact of ASC/ASU adoption | ASC 606 [Member]	532				532
Cumulative impact of ASC/ASU adoption | ASU 2018-02 [Member]					525	(525)
Ending balance, value at Nov. 30, 2018	$ 276,675	$ 18,870	$ (277,238)	$ 68,710	$ 483,811	$ (17,478)
Ending Balance, shares at Nov. 30, 2018		18,870	8,083

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Statement Of Stockholders Equity [Abstract]
Cash dividends per share	$ 0.31	$ 0.30

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 1,212	$ 3,185
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	3,424	4,335
Loss on sale of business	67
Provision for uncollectible accounts receivable	(159)	112
Deferred income taxes	742	2,111
Share-based compensation expense	1,303	1,001
Other, net	(1,053)	614
Changes in assets and liabilities:
Receivables	(14,782)	(6,526)
Inventories	(11,387)	(8,672)
Prepaid expenses and other current assets	298	(15)
Accounts payable	13,917	4,642
Other current liabilities	(7,106)	(6,156)
Other noncurrent assets and liabilities	(792)	399
Net cash used in operating activities	(14,316)	(4,970)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(5,701)	(1,991)
Proceeds from settlement of net investment hedges	962	101
Payments for settlement of net investment hedges		(1,176)
Other investing activities, net	8	74
Net cash used in investing activities	(4,731)	(2,992)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	177	132
Common stock withheld for payroll tax obligations	(1,120)	(828)
Principal payments on long-term debt	(51)	(50)
Dividends paid	(3,344)	(3,216)
Net cash used in financing activities	(4,338)	(3,962)
Effect of exchange rate changes on cash and cash equivalents	(185)	(246)
Net change in cash and cash equivalents	(23,570)	(12,170)
Cash and cash equivalents, beginning of period	160,787	121,620
Cash and cash equivalents, end of period	137,217	109,450
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid	553	213
Interest paid	83	$ 123
NONCASH INVESTING ACTIVITIES:
Note receivable from sale of business	$ 5,823

Basis of Presentation

Basis of Presentation	3 Months Ended
	Nov. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The condensed consolidated financial statements are presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) 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, 2018. 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. Recent Accounting Guidance Not Yet Adopted In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities Recent Accounting Guidance Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, Revenue from Contracts with Customers. The Company adopted the new standard using the modified retrospective approach effective the first day of fiscal 2019. As a result of the adoption, the Company increased retained earnings, $0.5 million, net of tax. This change relates primarily to custom and contract manufacturing arrangements for certain of the Company’s irrigation and infrastructure equipment products at various stages of production at August 31, 2018 in addition to contracts with multiple performance obligations for which control of the relevant performance obligation had been satisfied. Results for reporting periods beginning September 1, 2018 are presented in accordance with the ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the previously applied revenue recognition guidance. In March 2017, the FASB issued ASU No. 2017-07, Presentation of Net Periodic Benefit Cost Related to Defined Benefit Plans In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), Income Tax Accounting Implications of the Tax Cuts and Jobs Act Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Revenue Recognition

Revenue Recognition	3 Months Ended
	Nov. 30, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition The cumulative effect of initially applying the new revenue standard under ASC Topic 606 was recorded as an adjustment to the opening balance of retained earnings, which impacted the condensed consolidated balance sheet as follows: ($ in thousands) August 31, 2018 ASC Topic 606 Adjustments September 1, 2018 Assets Inventories, net $ 79,233 $ (942 ) $ 78,291 Other current assets 7,204 1,651 8,855 Liabilities and Stockholders' Equity Other current liabilities $ 46,935 $ 14 $ 46,949 Deferred income tax liabilities 1,083 163 1,246 Retained earnings 484,886 532 485,418 The adoption of ASC Topic 606 had the following impact on the condensed consolidated balance sheet and condensed consolidated statement of earnings for the three months ended November 30, 2018: ($ in thousands) As Reported ASC Topic 606 Adjustments Balance without adoption of ASC Topic 606 Assets Inventories, net $ 88,912 $ 3,669 $ 92,581 Other current assets 8,386 (1,059 ) 7,327 Liabilities and Stockholders' Equity Other current liabilities $ 41,480 $ 5,489 $ 46,969 Retained earnings 483,811 (2,879 ) 480,932 Statement of Earnings Operating revenues $ 111,951 $ (6,168 ) $ 105,783 Operating income 2,040 (3,280 ) (1,240 ) 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. The Company establishes provisions for estimated warranties and does not generally sell extended warranties for its products. In addition, the Company elected the practical expedient to not disclose the value of unsatisfied performance obligations at the end of the period when the contract has an original expected length of service of one year or less. For contracts with a length longer than twelve months, the unsatisfied performance obligation was $0.7 million at November 30, 2018. 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 engineering services and remote monitoring subscription services as well as custom and contract manufactured products. For engineering services, transfer of control to the customer is continuous over time. Therefore, revenue is recognized based on the extent of progress towards completion of the performance obligation. Judgement is required when selecting the method to measure progress towards completion. 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. Revenues for the lease 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 the three months ended November 30, 2018 is as follows: ($ in thousands) Irrigation Infrastructure Total Point in time $ 81,086 $ 21,247 $ 102,333 Over time 6,524 1,490 8,014 Revenue from the contracts with customers 87,610 22,737 110,347 Lease revenue — 1,604 1,604 Total operating revenues $ 87,610 $ 24,341 $ 111,951 Further disaggregation of revenue is disclosed in the Note 15 – 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. At November 30, 2018, contract assets amounted to $1.8 million. This amount is included in the other current assets line item within current assets on the condensed consolidated balance sheets. The contract asset attributable to the cumulative effect from the adoption of ASC Topic 606 was $1.1 million; the contract asset at August 31, 2018 was $0.5 million. At November 30, 2018 and August 31, 2018, the contract liability was $6.4 million and $7.5 million, respectively. The contract liability is included in the other current liabilities on the condensed consolidated balance sheets. During the Company’s fiscal quarter ended November 30, 2018, the Company recognized $4.6 million of revenue that was included in the liability as of August 31, 2018. The revenue recognized was due to applying advance payments received for the performance obligations completed during the quarter. Amounts included here exclude deferred lease revenues that are also included within other current liabilities.

Divestitures and Held-For-Sale

Divestitures and Held-For-Sale	3 Months Ended
	Nov. 30, 2018
Discontinued Operations And Disposal Groups [Abstract]
Divestitures and Held-For-Sale	Note 3 – Divestitures and Held-For-Sale During fiscal 2018, in connection with a portfolio review of business investments, the Company committed to a plan of divestiture of its pump and filtration businesses, a Company-owned irrigation dealership, and a Company-owned water resource consulting firm The Company completed the divestiture of its Company-owned irrigation dealership during the first quarter of fiscal 2019 and recorded a loss on sale of $0.1 million included in general and administrative expense on the condensed consolidated statement of earnings for the three months ended November 30, 2018. The Company received a note of $5.8 million as proceeds for this sale. This is included as a noncash investing activity on the condensed consolidated statement of cash flows. Additionally, during the fourth quarter of fiscal 2018, the Company closed one of its infrastructure manufacturing facilities in North America and consolidated its operations with an irrigation manufacturing facility. The building related to the closure is currently listed for sale and is included within the caption “Assets held-for-sale” in the condensed consolidated balance sheet as of November 30, 2018. The carrying amounts of the major classes of assets and liabilities that were classified as held-for-sale at November 30, 2018, November 30, 2017, and August 31, 2018 are as follows: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Receivables, net of allowance of $244 $ — $ — $ 3,473 Inventories, net — — 3,676 Property, plant, and equipment, net 2,744 — 3,637 Intangibles, net — — 51 Total assets 2,744 — 10,837 Accounts payable — — 1,476 Other current liabilities — — 948 Total liabilities — — 2,424 Net assets $ 2,744 $ — $ 8,413

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
	Nov. 30, 2018
Earnings Per Share [Abstract]
Net Earnings Per Share	Note 4 – 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, 2018 and November 30, 2017: Three months ended ($ and shares in thousands, except per share amounts) November 30, 2018 November 30, 2017 Numerator: Net earnings $ 1,212 $ 3,185 Denominator: Weighted average shares outstanding 10,766 10,705 Diluted effect of stock awards 40 35 Weighted average shares outstanding assuming dilution 10,806 10,740 Basic net earnings per share $ 0.11 $ 0.30 Diluted net earnings per share $ 0.11 $ 0.30 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 (Units and options in thousands) November 30, 2018 November 30, 2017 Restricted stock units 26 65 Stock options 35 102

Income Taxes

Income Taxes	3 Months Ended
	Nov. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 5 – 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, 2018 or 2017 . The Company recorded income tax expense of $0.5 million and $1.6 million for the three months ended November 30, 2018 and 2017, respectively. The estimated annual effective income tax rate was 27.9 percent and 33.5 percent for the three months ended November 30, 2018 and 2017, respectively. The decrease in the estimated annual effective income tax rate from November 2018 to November 2017 relates primarily to the reduction of the U.S corporate income tax rate from 35% to 21% due to U.S. Tax Reform. The United States enacted significant tax reform into law on December 22, 2017. U.S. Tax Reform made complex and broad changes to the U.S. tax laws. U.S. Tax Reform required companies to pay a one-time deemed repatriation tax on certain undistributed earnings of foreign subsidiaries. The Company recorded a $1.7 million provisional expense for the deemed repatriation tax in fiscal year 2018. The Company finalized the calculations of the transition tax liability in the quarter ending November 30, 2018, with no adjustments to the provisional estimate previously recorded. U.S. Tax Reform also established new income tax provisions that will affect the Company’s fiscal year 2019, including, but not limited to, eliminating the U.S. manufacturing deduction, and establishing a new minimum tax on global intangible low-taxed income (“GILTI”). The Company has elected to account for GILTI as a period cost.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Note 6 – Inventories Inventories consisted of the following as of November 30, 2018, November 30, 2017, and August 31, 2018: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Raw materials and supplies $ 40,781 $ 34,410 $ 36,316 Work in process 9,601 10,074 9,176 Finished goods and purchased parts 46,925 55,590 40,197 Total inventory value before LIFO adjustment 97,307 100,074 85,689 Less adjustment to LIFO value (8,395 ) (6,080 ) (6,456 ) Inventories, net $ 88,912 $ 93,994 $ 79,233

Long-Term Debt

Long-Term Debt	3 Months Ended
	Nov. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Note 7 – Long-Term Debt The following table sets forth the outstanding principal balances of the Company’s long-term debt as of the dates shown: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Series A Senior Notes $ 115,000 $ 115,000 $ 115,000 Revolving Credit Facility — — — Elecsys Series 2006A Bonds 1,724 1,926 1,775 Total debt 116,724 116,926 116,775 Less current portion (206 ) (202 ) (205 ) Total long-term debt $ 116,518 $ 116,724 $ 116,570 Principal payments on the debt are due as follows: Due within $ in thousands 1 year $ 206 2 years 210 3 years 214 4 years 218 5 years 222 Thereafter 115,654 $ 116,724

Financial Derivatives

Financial Derivatives	3 Months Ended
	Nov. 30, 2018
Derivative Instruments And Hedges [Abstract]
Financial Derivatives	Note 8 – 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: ($ in thousands) Balance sheet location November 30, 2018 November 30, 2017 August 31, 2018 Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 873 $ — $ 775 Foreign currency forward contracts Other current liabilities (248 ) (365 ) — Total derivatives designated as hedging instruments $ 625 $ (365 ) $ 775 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 51 $ 34 $ 123 Foreign currency forward contracts Other current liabilities (45 ) (120 ) (12 ) Total derivatives not designated as hedging instruments $ 6 $ (86 ) $ 111 Accumulated other comprehensive income included realized and unrealized after-tax gains of $5.7 million, $4.0 million, and $5.0 million at November 30, 2018, November 30, 2017, and August 31, 2018, respectively, related to derivative contracts designated as hedging instruments. Net Investment Hedging Relationships The amount of gain (loss) recognized in other comprehensive income is as follows: Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Foreign currency forward contracts, net of tax expense of $161 and $57, respectively $ 651 $ 123 For the three months ended November 30, 2018 and November 30, 2017, the Company settled foreign currency forward contracts resulting in an after-tax net gain of $0.7 million and after-tax net loss of $0.7 million, respectively, which were included in other comprehensive income as part of a currency translation adjustment. There were no amounts recorded in the condensed consolidated statements of earnings related to ineffectiveness of foreign currency forward contracts related to net investment hedges for the three months ended November 30, 2018 and November 30, 2017. At November 30, 2018, November 30, 2017, and August 31, 2018, the Company had outstanding foreign currency forward contracts to sell a notional amount of 32.5 million Euro, 32.6 million Euro, and 32.7 million Euro, respectively, at fixed prices to settle during the next fiscal quarter. At November 30, 2018, November 30, 2017, and August 31, 2018, the Company had an outstanding foreign currency forward contract to sell a notional amount of 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 sheets and recognizes any subsequent changes in its fair value during a period through earnings in the condensed consolidated statements of earnings. At November 30, 2018, November 30, 2017, and August 31, 2018, the Company had notional value of $1.9 million, $6.2 million, and $5.0 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, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9 – 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, 2018, November 30, 2017, and August 31, 2018, respectively. There were no transfers between any levels for the periods presented. November 30, 2018 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 137,217 $ — $ — $ 137,217 Derivative assets — 924 — 924 Derivative liabilities — (293 ) — (293 ) November 30, 2017 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 109,450 $ — $ — $ 109,450 Derivative assets — 34 — 34 Derivative liabilities — (485 ) — (485 ) August 31, 2018 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 160,787 $ — $ — $ 160,787 Derivative assets — 898 — 898 Derivative liabilities — (12 ) — (12 ) 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, 2018 or November 30, 2017.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Nov. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	Note 10 – 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 where those proceedings present loss contingencies that are both probable and reasonably estimable at the time of determination. 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 The Company intends to vigorously defend each of these allegations. The Company maintains insurance to mitigate the impact of adverse judgment exposures in the current product liability cases. 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 condensed consolidated financial statements. While it is 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. 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 statements of earnings. The current estimated aggregate accrued cost of $16.4 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 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 2019 or beyond. The Company accrues the anticipated cost of investigation and remediation when the obligation is probable and can be reasonably estimated. Costs are charged against the accrual in the period in which they are paid. 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 vary from 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, 2018, November 30, 2017, and August 31, 2018: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Other current liabilities $ 1,243 $ 1,616 $ 1,264 Other noncurrent liabilities 15,142 15,825 15,319 Total environmental remediation liabilities $ 16,385 $ 17,441 $ 16,583

Warranties

Warranties	3 Months Ended
	Nov. 30, 2018
Product Warranties Disclosures [Abstract]
Warranties	Note 11 – Warranties The following table provides the changes in the Company’s product warranties: Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Product warranty accrual balance, beginning of period $ 7,109 $ 8,411 Liabilities accrued for warranties during the period 1,178 1,456 Warranty claims paid during the period (1,047 ) (1,688 ) Changes in estimates — 8 Product warranty accrual balance, end of period $ 7,240 $ 8,187

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Nov. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 12 – 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 $1.3 million and $1.0 million for the three-month periods ended November 30, 2018 and November 30, 2017, respectively. The following table illustrates the type and fair value of the share-based compensation awards granted during the three-month periods ended November 30, 2018 and November 30, 2017: Three months ended November 30, 2018 November 30, 2017 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 38,337 $ 24.71 44,312 $ 30.73 RSUs 29,013 $ 88.27 69,198 $ 87.06 PSUs 20,631 $ 88.27 14,854 $ 88.06 The RSUs granted during the three-months ended November 30, 2018 and November 30, 2017 consisted of 3,071 and 3,980, respectively, of awards that will be settled in cash. The weighted average stock price on the date of the grant was $91.87 and $91.56 for the three-month periods ended November 30, 2018 and 2017, 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, 2018 and November 30, 2017: Grant Year 2018 2017 Weighted-average dividend yield 1.4 % 1.3 % Weighted-average volatility 26.3 % 34.0 % Risk-free interest rate 3.1 % 2.2 % Weighted-average expected lives 6 years 7 years

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Nov. 30, 2018
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 13 – Other Current Liabilities ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Other current liabilities: Compensation and benefits $ 12,034 $ 14,615 $ 17,850 Warranties 7,240 8,187 7,109 Deferred revenues 5,047 4,370 6,337 Dealer related liabilities 3,467 3,286 3,057 Customer deposits 2,959 3,783 2,591 Tax related liabilities 1,400 3,218 1,293 Accrued environmental liabilities 1,243 1,616 1,264 Other 8,090 9,800 7,434 Total other current liabilities $ 41,480 $ 48,875 $ 46,935

Share Repurchases

Share Repurchases	3 Months Ended
	Nov. 30, 2018
Equity [Abstract]
Share Repurchases	Note 14 – Share Repurchases There were no shares repurchased during the three months ended November 30, 2018 and November 30, 2017 under the Company’s share repurchase program. The remaining amount available under the repurchase program was $63.7 million as of November 30, 2018.

Industry Segment Information

Industry Segment Information	3 Months Ended
	Nov. 30, 2018
Segment Reporting [Abstract]
Industry Segment Information	Note 15 – 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 months ended November 30, 2018 and November 30, 2017. Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications. 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 manufacturing and selling of large diameter steel tubing and railroad signals and structures; and providing outsourced manufacturing and production services. The infrastructure reporting segment consists of one operating segment. Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Operating revenues: Irrigation: North America $ 56,464 $ 67,752 International 31,146 35,601 Irrigation total 87,610 103,353 Infrastructure 24,341 21,173 Total operating revenues $ 111,951 $ 124,526 Operating income: Irrigation $ 7,783 $ 7,851 Infrastructure 4,168 3,291 Corporate (9,911 ) (4,941 ) Total operating income 2,040 6,201 Interest and other expense, net (359 ) (1,409 ) Earnings before income taxes $ 1,681 $ 4,792 Capital expenditures: Irrigation $ 2,137 $ 1,673 Infrastructure 190 196 Corporate 3,374 122 $ 5,701 $ 1,991 Depreciation and amortization: Irrigation $ 2,332 $ 3,079 Infrastructure 965 1,138 Corporate 127 118 $ 3,424 $ 4,335 ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Total assets: Irrigation $ 289,773 $ 327,183 $ 277,712 Infrastructure 74,671 76,488 69,919 Corporate 138,075 99,736 152,625 $ 502,519 $ 503,407 $ 500,256

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Nov. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
New Accounting Pronouncements	Recent Accounting Guidance Not Yet Adopted In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities Recent Accounting Guidance Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, Revenue from Contracts with Customers. The Company adopted the new standard using the modified retrospective approach effective the first day of fiscal 2019. As a result of the adoption, the Company increased retained earnings, $0.5 million, net of tax. This change relates primarily to custom and contract manufacturing arrangements for certain of the Company’s irrigation and infrastructure equipment products at various stages of production at August 31, 2018 in addition to contracts with multiple performance obligations for which control of the relevant performance obligation had been satisfied. Results for reporting periods beginning September 1, 2018 are presented in accordance with the ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the previously applied revenue recognition guidance. In March 2017, the FASB issued ASU No. 2017-07, Presentation of Net Periodic Benefit Cost Related to Defined Benefit Plans In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), Income Tax Accounting Implications of the Tax Cuts and Jobs Act Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Nov. 30, 2018
Disaggregation Of Revenue [Line Items]
Schedule of Disaggregation of Revenue by Segment	A breakout by segment of revenue recognized over time versus point in time for the three months ended November 30, 2018 is as follows: ($ in thousands) Irrigation Infrastructure Total Point in time $ 81,086 $ 21,247 $ 102,333 Over time 6,524 1,490 8,014 Revenue from the contracts with customers 87,610 22,737 110,347 Lease revenue — 1,604 1,604 Total operating revenues $ 87,610 $ 24,341 $ 111,951
ASC Topic 606 [Member]
Disaggregation Of Revenue [Line Items]
Summary of Impacts of ASU on Condensed Consolidated Financial Statements	The cumulative effect of initially applying the new revenue standard under ASC Topic 606 was recorded as an adjustment to the opening balance of retained earnings, which impacted the condensed consolidated balance sheet as follows: ($ in thousands) August 31, 2018 ASC Topic 606 Adjustments September 1, 2018 Assets Inventories, net $ 79,233 $ (942 ) $ 78,291 Other current assets 7,204 1,651 8,855 Liabilities and Stockholders' Equity Other current liabilities $ 46,935 $ 14 $ 46,949 Deferred income tax liabilities 1,083 163 1,246 Retained earnings 484,886 532 485,418 The adoption of ASC Topic 606 had the following impact on the condensed consolidated balance sheet and condensed consolidated statement of earnings for the three months ended November 30, 2018: ($ in thousands) As Reported ASC Topic 606 Adjustments Balance without adoption of ASC Topic 606 Assets Inventories, net $ 88,912 $ 3,669 $ 92,581 Other current assets 8,386 (1,059 ) 7,327 Liabilities and Stockholders' Equity Other current liabilities $ 41,480 $ 5,489 $ 46,969 Retained earnings 483,811 (2,879 ) 480,932 Statement of Earnings Operating revenues $ 111,951 $ (6,168 ) $ 105,783 Operating income 2,040 (3,280 ) (1,240 )

Divestitures and Held-For-Sale

Divestitures and Held-For-Sale (Tables)	3 Months Ended
	Nov. 30, 2018
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Carrying Amounts of Major classes of Assets and Liabilities Classified as Held-for-Sale	The carrying amounts of the major classes of assets and liabilities that were classified as held-for-sale at November 30, 2018, November 30, 2017, and August 31, 2018 are as follows: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Receivables, net of allowance of $244 $ — $ — $ 3,473 Inventories, net — — 3,676 Property, plant, and equipment, net 2,744 — 3,637 Intangibles, net — — 51 Total assets 2,744 — 10,837 Accounts payable — — 1,476 Other current liabilities — — 948 Total liabilities — — 2,424 Net assets $ 2,744 $ — $ 8,413

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
	Nov. 30, 2018
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 the three months ended November 30, 2018 and November 30, 2017: Three months ended ($ and shares in thousands, except per share amounts) November 30, 2018 November 30, 2017 Numerator: Net earnings $ 1,212 $ 3,185 Denominator: Weighted average shares outstanding 10,766 10,705 Diluted effect of stock awards 40 35 Weighted average shares outstanding assuming dilution 10,806 10,740 Basic net earnings per share $ 0.11 $ 0.30 Diluted net earnings per share $ 0.11 $ 0.30
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share	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 (Units and options in thousands) November 30, 2018 November 30, 2017 Restricted stock units 26 65 Stock options 35 102

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2018
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories consisted of the following as of November 30, 2018, November 30, 2017, and August 31, 2018: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Raw materials and supplies $ 40,781 $ 34,410 $ 36,316 Work in process 9,601 10,074 9,176 Finished goods and purchased parts 46,925 55,590 40,197 Total inventory value before LIFO adjustment 97,307 100,074 85,689 Less adjustment to LIFO value (8,395 ) (6,080 ) (6,456 ) Inventories, net $ 88,912 $ 93,994 $ 79,233

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Nov. 30, 2018
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	The following table sets forth the outstanding principal balances of the Company’s long-term debt as of the dates shown: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Series A Senior Notes $ 115,000 $ 115,000 $ 115,000 Revolving Credit Facility — — — Elecsys Series 2006A Bonds 1,724 1,926 1,775 Total debt 116,724 116,926 116,775 Less current portion (206 ) (202 ) (205 ) Total long-term debt $ 116,518 $ 116,724 $ 116,570
Schedule Of Principal Payments Due On Long-Term Debt	Principal payments on the debt are due as follows: Due within $ in thousands 1 year $ 206 2 years 210 3 years 214 4 years 218 5 years 222 Thereafter 115,654 $ 116,724

Financial Derivatives (Tables)

Financial Derivatives (Tables)	3 Months Ended
	Nov. 30, 2018
Derivative Instruments And Hedges [Abstract]
Schedule Of Financial Derivatives	Fair values of derivative instruments are as follows: ($ in thousands) Balance sheet location November 30, 2018 November 30, 2017 August 31, 2018 Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 873 $ — $ 775 Foreign currency forward contracts Other current liabilities (248 ) (365 ) — Total derivatives designated as hedging instruments $ 625 $ (365 ) $ 775 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 51 $ 34 $ 123 Foreign currency forward contracts Other current liabilities (45 ) (120 ) (12 ) Total derivatives not designated as hedging instruments $ 6 $ (86 ) $ 111
Schedule Of Derivative Instruments, Effect On Other Comprehensive Income (Loss)	The amount of gain (loss) recognized in other comprehensive income is as follows: Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Foreign currency forward contracts, net of tax expense of $161 and $57, respectively $ 651 $ 123

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2018
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 November 30, 2018, November 30, 2017, and August 31, 2018, respectively. There were no transfers between any levels for the periods presented. November 30, 2018 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 137,217 $ — $ — $ 137,217 Derivative assets — 924 — 924 Derivative liabilities — (293 ) — (293 ) November 30, 2017 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 109,450 $ — $ — $ 109,450 Derivative assets — 34 — 34 Derivative liabilities — (485 ) — (485 ) August 31, 2018 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 160,787 $ — $ — $ 160,787 Derivative assets — 898 — 898 Derivative liabilities — (12 ) — (12 )

Commitments And Contingencies (

Commitments And Contingencies (Tables)	3 Months Ended
	Nov. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Summary Of Undiscounted Environmental Remediation Liability Classifications	The following table summarizes the undiscounted environmental remediation liability classifications included in the balance sheet as of November 30, 2018, November 30, 2017, and August 31, 2018: ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Other current liabilities $ 1,243 $ 1,616 $ 1,264 Other noncurrent liabilities 15,142 15,825 15,319 Total environmental remediation liabilities $ 16,385 $ 17,441 $ 16,583

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Nov. 30, 2018
Product Warranties Disclosures [Abstract]
Schedule Of Product Warranty Liability	The following table provides the changes in the Company’s product warranties: Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Product warranty accrual balance, beginning of period $ 7,109 $ 8,411 Liabilities accrued for warranties during the period 1,178 1,456 Warranty claims paid during the period (1,047 ) (1,688 ) Changes in estimates — 8 Product warranty accrual balance, end of period $ 7,240 $ 8,187

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	3 Months Ended
	Nov. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary Of Type And Fair Value Of Share-Based Compensation Awards	The following table illustrates the type and fair value of the share-based compensation awards granted during the three-month periods ended November 30, 2018 and November 30, 2017: Three months ended November 30, 2018 November 30, 2017 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 38,337 $ 24.71 44,312 $ 30.73 RSUs 29,013 $ 88.27 69,198 $ 87.06 PSUs 20,631 $ 88.27 14,854 $ 88.06
Schedule Of Assumptions Used	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, 2018 and November 30, 2017: Grant Year 2018 2017 Weighted-average dividend yield 1.4 % 1.3 % Weighted-average volatility 26.3 % 34.0 % Risk-free interest rate 3.1 % 2.2 % Weighted-average expected lives 6 years 7 years

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Nov. 30, 2018
Other Liabilities Disclosure [Abstract]
Schedule Of Other Liabilities Current	Other Current Liabilities ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Other current liabilities: Compensation and benefits $ 12,034 $ 14,615 $ 17,850 Warranties 7,240 8,187 7,109 Deferred revenues 5,047 4,370 6,337 Dealer related liabilities 3,467 3,286 3,057 Customer deposits 2,959 3,783 2,591 Tax related liabilities 1,400 3,218 1,293 Accrued environmental liabilities 1,243 1,616 1,264 Other 8,090 9,800 7,434 Total other current liabilities $ 41,480 $ 48,875 $ 46,935

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Nov. 30, 2018
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information, By Segment	Three months ended ($ in thousands) November 30, 2018 November 30, 2017 Operating revenues: Irrigation: North America $ 56,464 $ 67,752 International 31,146 35,601 Irrigation total 87,610 103,353 Infrastructure 24,341 21,173 Total operating revenues $ 111,951 $ 124,526 Operating income: Irrigation $ 7,783 $ 7,851 Infrastructure 4,168 3,291 Corporate (9,911 ) (4,941 ) Total operating income 2,040 6,201 Interest and other expense, net (359 ) (1,409 ) Earnings before income taxes $ 1,681 $ 4,792 Capital expenditures: Irrigation $ 2,137 $ 1,673 Infrastructure 190 196 Corporate 3,374 122 $ 5,701 $ 1,991 Depreciation and amortization: Irrigation $ 2,332 $ 3,079 Infrastructure 965 1,138 Corporate 127 118 $ 3,424 $ 4,335 ($ in thousands) November 30, 2018 November 30, 2017 August 31, 2018 Total assets: Irrigation $ 289,773 $ 327,183 $ 277,712 Infrastructure 74,671 76,488 69,919 Corporate 138,075 99,736 152,625 $ 502,519 $ 503,407 $ 500,256

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Sep. 01, 2018	Aug. 31, 2018	Nov. 30, 2017
Basis Of Presentation [Line Items]
Retained earnings	$ 483,811		$ 484,886	$ 477,584
ASC Topic 606 [Member]
Basis Of Presentation [Line Items]
Retained earnings		$ 485,418
ASU No. 2018-02 [Member]
Basis Of Presentation [Line Items]
Tax reclassification from accumulated other comprehensive income to retained earnings due to tax reform	500
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ASC Topic 606 [Member]
Basis Of Presentation [Line Items]
Retained earnings	$ (2,879)		$ 532

Revenue Recognition (Summary of

Revenue Recognition (Summary of Impacts of ASU on Condensed Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Sep. 01, 2018	Aug. 31, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Inventories, net	$ 88,912	$ 93,994		$ 79,233
Other current assets	8,386	9,461		7,204
Other current liabilities	41,480	48,875		46,935
Deferred income tax liabilities	1,048	1,649		1,083
Retained earnings	483,811	477,584		484,886
Statement of Earnings
Operating revenues	111,951	124,526
Operating income	2,040	$ 6,201
ASC Topic 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Inventories, net			$ 78,291
Other current assets			8,855
Other current liabilities			46,949
Deferred income tax liabilities			1,246
Retained earnings			$ 485,418
ASC Topic 606 Adjustments [Member] | ASC Topic 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Inventories, net	3,669			(942)
Other current assets	(1,059)			1,651
Other current liabilities	5,489			14
Deferred income tax liabilities				163
Retained earnings	(2,879)			$ 532
Statement of Earnings
Operating revenues	(6,168)
Operating income	(3,280)
Balance Without Adoption of ASC Topic 606 [Member] | ASC Topic 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Inventories, net	92,581
Other current assets	7,327
Other current liabilities	46,969
Retained earnings	480,932
Statement of Earnings
Operating revenues	105,783
Operating income	$ (1,240)

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2018	Aug. 31, 2018
Disaggregation Of Revenue [Line Items]
Unsatisfied performance obligation amount	$ 0.7
Contract assets		$ 0.5
Revenue recognized	4.6
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ASC Topic 606 [Member]
Disaggregation Of Revenue [Line Items]
Contract assets	1.1
Other Current Assets [Member]
Disaggregation Of Revenue [Line Items]
Contract assets	1.8
Other Current Liabilities [Member]
Disaggregation Of Revenue [Line Items]
Contract liabilities	$ 6.4	$ 7.5

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Disaggregation of Revenue by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 110,347
Lease revenue	1,604
Operating revenues	111,951	$ 124,526
Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	87,610
Operating revenues	87,610
Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	22,737
Lease revenue	1,604
Operating revenues	24,341
Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	102,333
Point in Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	81,086
Point in Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	21,247
Over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	8,014
Over Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	6,524
Over Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 1,490

Divestitures and Held-For-Sal_2

Divestitures and Held-For-Sale (Narrative) (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2018USD ($)	Aug. 31, 2018Facility
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loss on sale of irrigation dealership	$ 67
Note receivable from sale of business	5,823
North America [Member] | Infrastructure [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of manufacturing facilities closed | Facility		1
General and Administrative Expense [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loss on sale of irrigation dealership	$ 100

Schedule of Carrying Amounts of

Schedule of Carrying Amounts of Major classes of Assets and Liabilities Classified as Held-for-Sale (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Receivables, net of allowance of $244		$ 3,473
Inventories, net		3,676
Property, plant, and equipment, net	$ 2,744	3,637
Intangibles, net		51
Total assets	2,744	10,837
Accounts payable		1,476
Other current liabilities		948
Total liabilities		2,424
Net assets	$ 2,744	$ 8,413

Schedule of Carrying Amounts _2

Schedule of Carrying Amounts of Major classes of Assets and Liabilities Classified as Held-for-Sale (Parenthetical) (Details) $ in Thousands	Aug. 31, 2018USD ($)
Discontinued Operations And Disposal Groups [Abstract]
Receivables, allowance	$ 244

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, 2018	Nov. 30, 2017
Earnings Per Share [Abstract]
Net earnings	$ 1,212	$ 3,185
Weighted average shares outstanding	10,766	10,705
Diluted effect of stock awards	40	35
Weighted average shares outstanding assuming dilution	10,806	10,740
Basic net earnings per share	$ 0.11	$ 0.30
Diluted net earnings per share	$ 0.11	$ 0.30

Net Earnings Per Share (Sched_2

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, 2018	Nov. 30, 2017
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	26	65
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	35	102

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Aug. 31, 2018
Income Tax Disclosure [Abstract]
Tax adjustment for unusual items	$ 0	$ 0
Income tax expense	$ 469	$ 1,607
Estimated effective income tax rate	27.90%	33.50%
U.S. federal corporate income tax rate	21.00%	35.00%
Provision deemed repatriation transition tax obligation			$ 1,700

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 40,781	$ 36,316	$ 34,410
Work in process	9,601	9,176	10,074
Finished goods and purchased parts	46,925	40,197	55,590
Total inventory value before LIFO adjustment	97,307	85,689	100,074
Less adjustment to LIFO value	(8,395)	(6,456)	(6,080)
Inventories, net	$ 88,912	$ 79,233	$ 93,994

Long-Term Debt (Schedule Of Lon

Long-Term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Debt Instrument [Line Items]
Total debt	$ 116,724	$ 116,775	$ 116,926
Less current portion	(206)	(205)	(202)
Total long-term debt	116,518	116,570	116,724
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt
Elecsys Series 2006A Bonds [Member]
Debt Instrument [Line Items]
Total debt	1,724	1,775	1,926
Series A Senior Notes [Member]
Debt Instrument [Line Items]
Total 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, 2018	Aug. 31, 2018	Nov. 30, 2017
Debt Disclosure [Abstract]
1 year	$ 206
2 years	210
3 years	214
4 years	218
5 years	222
Thereafter	115,654
Total debt	$ 116,724	$ 116,775	$ 116,926

Financial Derivatives (Schedule

Financial Derivatives (Schedule Of Financial Derivatives) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	$ 625	$ 775	$ (365)
Derivatives Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	873	775
Derivatives Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(248)		(365)
Derivatives Not Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	6	111	(86)
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	51	123	34
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ (45)	$ (12)	$ (120)

Financial Derivatives (Narrativ

Financial Derivatives (Narrative) (Details) € in Millions, R in Millions, $ in Millions	3 Months Ended
	Nov. 30, 2018USD ($)	Nov. 30, 2017USD ($)	Nov. 30, 2018ZAR (R)	Nov. 30, 2018EUR (€)	Aug. 31, 2018USD ($)	Aug. 31, 2018ZAR (R)	Aug. 31, 2018EUR (€)	Nov. 30, 2017ZAR (R)	Nov. 30, 2017EUR (€)
Foreign Exchange Forward [Member] | Derivatives Not Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Outstanding foreign currency forward contracts	$ 1.9	$ 6.2			$ 5
Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Realized and unrealized gains, net of related income tax effects	5.7	4			$ 5
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Foreign currency translation forward contracts, after tax net gains (losses)	0.7	(0.7)
Derivative contracts ineffective amount	$ 0	$ 0
Outstanding foreign currency forward contracts			R 43	€ 32.5		R 43	€ 32.7	R 43	€ 32.6

Financial Derivatives (Schedu_2

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, 2018	Nov. 30, 2017
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, net of tax expense of $161 and $57, respectively	$ 651	$ 123
Tax (benefit) expense	$ 161	$ 57

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Financial Assets And Liabilities Measured At Fair Value) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 137,217	$ 160,787	$ 109,450
Derivative assets	924	898	34
Derivative liabilities	(293)	(12)	(485)
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	137,217	160,787	109,450
Derivative assets
Derivative liabilities
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Derivative assets	924	898	34
Derivative liabilities	(293)	(12)	(485)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Derivative assets
Derivative liabilities

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Assets fair value adjustments	$ 0	$ 0
Liabilities fair value adjustments	$ 0	$ 0

Commitments And Contingencies_2

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, 2018
Commitments And Contingencies [Line Items]
Environmental Remediation Expense	$ 13	$ 1.5	$ 7.2
Current environmental remediation accrual				$ 16.4

Commitments And Contingencies_3

Commitments And Contingencies (Summary Of Undiscounted Environmental Remediation Liability Classifications) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Other current liabilities	$ 1,243	$ 1,264	$ 1,616
Other noncurrent liabilities	15,142	15,319	15,825
Total environmental remediation liabilities	$ 16,385	$ 16,583	$ 17,441

Warranties (Schedule Of Product

Warranties (Schedule Of Product Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Product Warranties Disclosures [Abstract]
Product warranty accrual balance, beginning of period	$ 7,109	$ 8,411
Liabilities accrued for warranties during the period	1,178	1,456
Warranty claims paid during the period	(1,047)	(1,688)
Changes in estimates		8
Product warranty accrual balance, end of period	$ 7,240	$ 8,187

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 1.3	$ 1
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be settled in cash	3,071	3,980
Weighted average grant-date stock price of awards to be settled in cash	$ 91.87	$ 91.56

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, 2018	Nov. 30, 2017
Stock Options [Member]
Number of units granted	38,337	44,312
Weighted average grant-date fair value per award	$ 24.71	$ 30.73
Restricted Stock Units [Member]
Number of units granted	29,013	69,198
Weighted average grant-date fair value per award	$ 88.27	$ 87.06
Performance Stock Units [Member]
Number of units granted	20,631	14,854
Weighted average grant-date fair value per award	$ 88.27	$ 88.06

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Assumptions Used) (Details) - Stock Options [Member]	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average dividend yield	1.40%	1.30%
Weighted-average volatility	26.30%	34.00%
Risk-free interest rate	3.10%	2.20%
Weighted-average expected lives	6 years	7 years

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Liabilities Current) (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2017
Other Liabilities Disclosure [Abstract]
Compensation and benefits	$ 12,034	$ 17,850	$ 14,615
Warranties	7,240	7,109	8,187
Deferred revenues	5,047	6,337	4,370
Dealer related liabilities	3,467	3,057	3,286
Customer deposits	2,959	2,591	3,783
Tax related liabilities	1,400	1,293	3,218
Accrued environmental liabilities	1,243	1,264	1,616
Other	8,090	7,434	9,800
Total other current liabilities	$ 41,480	$ 46,935	$ 48,875

Share Repurchases (Narrative) (

Share Repurchases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Equity [Abstract]
Number of shares of common stock repurchased during the period	0	0
Remaining amount available under the repurchase program	$ 63.7

Industry Segment Information (N

Industry Segment Information (Narrative) (Details)	3 Months Ended
	Nov. 30, 2018Segmentcustomer	Nov. 30, 2017customer
Segment Reporting Information [Line Items]
Number of reportable segments	2
Irrigation [Member]
Segment Reporting Information [Line Items]
Number of operating segments	1
Infrastructure [Member]
Segment Reporting Information [Line Items]
Number of operating segments	1
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Percentage	10.00%	10.00%
Number of Major Customers | customer	0	0

Industry Segment Information (S

Industry Segment Information (Schedule Of Segment Reporting Information, By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Aug. 31, 2018
Segment Reporting Information [Line Items]
Total operating revenues	$ 111,951	$ 124,526
Total operating income	2,040	6,201
Earnings before income taxes	1,681	4,792
Capital expenditures	5,701	1,991
Depreciation and amortization	3,424	4,335
Total Assets	502,519	503,407	$ 500,256
Irrigation [Member]
Segment Reporting Information [Line Items]
Total operating revenues	87,610
Capital expenditures	2,137	1,673
Depreciation and amortization	2,332	3,079
Total Assets	289,773	327,183	277,712
Infrastructure [Member]
Segment Reporting Information [Line Items]
Total operating revenues	24,341
Capital expenditures	190	196
Depreciation and amortization	965	1,138
Total Assets	74,671	76,488	69,919
Corporate Segment
Segment Reporting Information [Line Items]
Total operating income	(9,911)	(4,941)
Capital expenditures	3,374	122
Depreciation and amortization	127	118
Total Assets	138,075	99,736	$ 152,625
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating revenues	111,951	124,526
Operating Segments [Member] | Irrigation [Member]
Segment Reporting Information [Line Items]
Total operating revenues	87,610	103,353
Total operating income	7,783	7,851
Operating Segments [Member] | Irrigation [Member] | North America [Member]
Segment Reporting Information [Line Items]
Total operating revenues	56,464	67,752
Operating Segments [Member] | Irrigation [Member] | International
Segment Reporting Information [Line Items]
Total operating revenues	31,146	35,601
Operating Segments [Member] | Infrastructure [Member]
Segment Reporting Information [Line Items]
Total operating revenues	24,341	21,173
Total operating income	4,168	3,291
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest and other expense, net	(359)	(1,409)
Earnings before income taxes	$ 1,681	$ 4,792