Lindsay (LNN) 10-Q 7 Apr 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Feb. 29, 2020	Apr. 03, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 29, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	LNN
Entity Registrant Name	Lindsay Corporation
Entity Central Index Key	0000836157
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-13419
Entity Tax Identification Number	47-0554096
Entity Address, Address Line One	18135 Burke Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Country	US
Entity Address, Postal Zip Code	68022
City Area Code	402
Local Phone Number	829-6800
Entity Common Stock, Shares Outstanding		10,834,763
Entity Interactive Data Current	Yes
Entity Ex Transition Period	Common Stock, $1.00 par value
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Income Statement [Abstract]
Operating revenues	$ 113,788	$ 109,182	$ 223,181	$ 221,133
Cost of operating revenues	80,382	84,708	155,701	168,011
Gross profit	33,406	24,474	67,480	53,122
Operating expenses:
Selling expense	8,192	8,437	14,684	16,419
General and administrative expense	13,167	16,832	24,971	31,890
Engineering and research expense	3,405	3,665	6,907	7,233
Total operating expenses	24,764	28,934	46,562	55,542
Operating income (loss)	8,642	(4,460)	20,918	(2,420)
Other income (expense):
Interest expense	(1,191)	(1,178)	(2,377)	(2,383)
Interest income	389	751	1,004	1,405
Other (expense) income, net	(973)	(181)	(1,423)	11
Earnings (loss) before income taxes	6,867	(5,068)	18,122	(3,387)
Income tax expense (benefit)	1,351	(1,628)	4,261	(1,159)
Net earnings (loss)	$ 5,516	$ (3,440)	$ 13,861	$ (2,228)
Earnings (loss) per share:
Basic	$ 0.51	$ (0.32)	$ 1.28	$ (0.21)
Diluted	$ 0.51	$ (0.32)	$ 1.28	$ (0.21)
Shares used in computing earnings (loss) per share:
Basic	10,825	10,786	10,810	10,776
Diluted	10,857	10,786	10,843	10,776
Cash dividends declared per share	$ 0.31	$ 0.31	$ 0.62	$ 0.62

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net earnings (loss)	$ 5,516	$ (3,440)	$ 13,861	$ (2,228)
Other comprehensive (loss) income:
Defined benefit pension plan adjustment, net of tax	43	38	86	67
Foreign currency translation adjustment, net of hedging activities and tax	(895)	852	(1,188)	1,958
Unrealized gains on marketable securities, net of tax	61	0	61	0
Total other comprehensive income (loss), net of tax (benefit) expense of ($449), $75, ($373) and $301, respectively	(791)	890	(1,041)	2,025
Total comprehensive income (loss)	$ 4,725	$ (2,550)	$ 12,820	$ (203)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Statement Of Income And Comprehensive Income [Abstract]
Other comprehensive income, tax (benefit) expense	$ (449)	$ 75	$ (373)	$ 301

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Current assets:
Cash and cash equivalents	$ 101,272	$ 127,204	$ 102,778
Marketable securities	18,740	0	0
Receivables, net of allowance of $2,597, $3,224, and $2,635, respectively	80,468	75,551	88,576
Inventories, net	105,454	92,287	99,984
Assets held-for-sale	0	2,744	2,744
Other current assets, net	19,083	15,704	23,144
Total current assets	325,017	313,490	317,226
Property, plant, and equipment:
Cost	191,688	188,695	181,644
Less accumulated depreciation	(122,926)	(119,727)	(116,338)
Property, plant, and equipment, net	68,762	68,968	65,306
Intangibles, net	23,162	24,382	25,853
Goodwill	64,338	64,387	64,591
Operating lease right-of-use assets	27,257	0	0
Deferred income tax assets	10,162	11,758	6,484
Other noncurrent assets	15,632	17,329	20,213
Total assets	534,330	500,314	499,673
Current liabilities:
Accounts payable	33,307	29,434	37,419
Current portion of long-term debt	211	209	207
Other current liabilities	54,303	52,488	44,825
Total current liabilities	87,821	82,131	82,451
Pension benefits liabilities	5,868	6,029	5,732
Long-term debt	115,765	115,846	116,034
Operating lease liabilities	25,919	0	0
Deferred income tax liabilities	839	872	991
Other noncurrent liabilities	20,791	27,227	22,622
Total liabilities	257,003	232,105	227,830
Shareholders' equity:
Preferred stock of $1 par value - authorized 2,000 shares; no shares issued and outstanding	0	0	0
Common stock of $1 par value - authorized 25,000 shares; 18,918, 18,870, and 18,870 shares issued, respectively	18,918	18,870	18,870
Capital in excess of stated value	74,645	71,684	69,772
Retained earnings	481,890	474,740	477,027
Less treasury stock - at cost, 8,083 shares	(277,238)	(277,238)	(277,238)
Accumulated other comprehensive loss, net	(20,888)	(19,847)	(16,588)
Total shareholders' equity	277,327	268,209	271,843
Total liabilities and shareholders' equity	$ 534,330	$ 500,314	$ 499,673

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Statement Of Financial Position [Abstract]
Receivables, allowance	$ 2,597	$ 2,635	$ 3,224
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	18,918,000	18,870,000	18,870,000
Treasury stock, shares	8,083,000	8,083,000	8,083,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Capital In Excess Of Stated Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) 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 (loss)	(2,228)	$ 0	$ 0	0	(2,228)	0
Other comprehensive income (loss)	2,025	0	0	0	0	2,025
Total comprehensive income (loss)	(203)	0	0	0	0	0
Cash dividends per share	(6,688)	0	0	0	(6,688)	0
Issuance of common shares under share compensation plans, net, value	(947)	$ 29	$ 0	(976)	0	0
Issuance of common shares under share compensation plans, net, shares		29	0
Share-based compensation expense	2,283	$ 0	$ 0	2,283	0	0
Cumulative impact of ASC/ASU adoption | ASC 606 [Member]	532	0	0	0	532	0
Cumulative impact of ASC/ASU adoption | ASU 2018-02 [Member]	0	0	0	0	525	(525)
Ending balance, value at Feb. 28, 2019	271,843	$ 18,870	$ (277,238)	69,772	477,027	(16,588)
Ending Balance, shares at Feb. 28, 2019		18,870	8,083
Beginning balance, value at Nov. 30, 2018	276,675	$ 18,870	$ (277,238)	68,710	483,811	(17,478)
Beginning balance, shares at Nov. 30, 2018		18,870	8,083
Net earnings (loss)	(3,440)	$ 0	$ 0	0	(3,440)	0
Other comprehensive income (loss)	890	0	0	0	0	890
Total comprehensive income (loss)	(2,550)	0	0	0	0	0
Cash dividends per share	(3,344)	0	0	0	(3,344)	0
Issuance of common shares under share compensation plans, net, value	(4)	$ 0	$ 0	(4)	0	0
Issuance of common shares under share compensation plans, net, shares		0	0
Share-based compensation expense	1,066	$ 0	$ 0	1,066	0	0
Ending balance, value at Feb. 28, 2019	271,843	$ 18,870	$ (277,238)	69,772	477,027	(16,588)
Ending Balance, shares at Feb. 28, 2019		18,870	8,083
Beginning balance, value at Aug. 31, 2019	268,209	$ 18,870	$ (277,238)	71,684	474,740	(19,847)
Beginning balance, shares at Aug. 31, 2019		18,870	8,083
Net earnings (loss)	13,861	$ 0	$ 0	0	13,861	0
Other comprehensive income (loss)	(1,041)	0	0	0	0	(1,041)
Total comprehensive income (loss)	12,820	0	0	0	0	0
Cash dividends per share	(6,711)	0	0	0	(6,711)	0
Issuance of common shares under share compensation plans, net, value	434	$ 48	$ 0	386	0	0
Issuance of common shares under share compensation plans, net, shares		48	0
Share-based compensation expense	2,575	$ 0	$ 0	2,575	0	0
Ending balance, value at Feb. 29, 2020	277,327	$ 18,918	$ (277,238)	74,645	481,890	(20,888)
Ending Balance, shares at Feb. 29, 2020		18,918	8,083
Beginning balance, value at Nov. 30, 2019	273,000	$ 18,897	$ (277,238)	71,706	479,732	(20,097)
Beginning balance, shares at Nov. 30, 2019		18,897	8,083
Net earnings (loss)	5,516	$ 0	$ 0	0	5,516	0
Other comprehensive income (loss)	(791)	0	0	0	0	(791)
Total comprehensive income (loss)	4,725	0	0	0	0	0
Cash dividends per share	(3,358)	0	0	0	(3,358)	0
Issuance of common shares under share compensation plans, net, value	1,545	$ 21	$ 0	1,524	0	0
Issuance of common shares under share compensation plans, net, shares		21	0
Share-based compensation expense	1,415	$ 0	$ 0	1,415	0	0
Ending balance, value at Feb. 29, 2020	$ 277,327	$ 18,918	$ (277,238)	$ 74,645	$ 481,890	$ (20,888)
Ending Balance, shares at Feb. 29, 2020		18,918	8,083

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Statement Of Stockholders Equity [Abstract]
Cash dividends per share	$ 0.31	$ 0.31	$ 0.62	$ 0.62

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ 13,861	$ (2,228)
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization	9,418	6,889
Gain on sale of assets held-for-sale	(1,191)	0
Loss on sale of business	0	67
Provision for uncollectible accounts receivable	213	(315)
Deferred income taxes	1,806	(105)
Share-based compensation expense	2,575	2,403
Other, net	(638)	(1,093)
Changes in assets and liabilities:
Receivables	(5,716)	(18,157)
Inventories	(14,153)	(22,246)
Other current assets	(4,539)	(5,111)
Accounts payable	3,540	8,402
Other current liabilities	(2,183)	(9,792)
Other noncurrent assets and liabilities	(5,178)	1,439
Net cash used in operating activities	(2,185)	(39,847)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(5,335)	(11,701)
Proceeds from sale of assets held-for-sale	3,955	0
Purchases of marketable securities available-for-sale	(19,978)	0
Proceeds from maturities of marketable securities available-for-sale	1,250	0
Proceeds from settlement of net investment hedges	1,092	1,462
Payments for settlement of net investment hedges	0	(245)
Other investing activities, net	0	38
Net cash used in investing activities	(19,016)	(10,446)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	1,545	177
Common stock withheld for payroll tax obligations	(1,111)	(1,124)
Principal payments on long-term debt	(104)	(102)
Dividends paid	(6,711)	(6,688)
Net cash used in financing activities	(6,381)	(7,737)
Effect of exchange rate changes on cash and cash equivalents	1,650	21
Net change in cash and cash equivalents	(25,932)	(58,009)
Cash and cash equivalents, beginning of period	127,204	160,787
Cash and cash equivalents, end of period	101,272	102,778
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid, net of refunds	2,294	5,876
Interest paid	2,334	2,329
NONCASH INVESTING ACTIVITIES:
Note receivable from sale of business	$ 0	$ 5,823

Basis of Presentation

Basis of Presentation	6 Months Ended
	Feb. 29, 2020
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, 2019. 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. Recent Accounting Guidance Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments Recent Accounting Guidance Adopted In February 2016, the FASB issued ASU 2016-02, Leases In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities

Revenue Recognition

Revenue Recognition	6 Months Ended
	Feb. 29, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition Disaggregation of Revenue A breakout by segment of revenue recognized over time versus point in time for the three and six months ended February 29, 2020 and February 28, 2019 is as follows: Three months ended Three months ended February 29, 2020 February 28, 2019 ($ in thousands) Irrigation Infrastructure Total Irrigation Infrastructure Total Point in time $ 73,025 $ 18,153 $ 91,178 $ 85,939 $ 10,917 $ 96,856 Over time 19,048 2,028 21,076 9,827 1,292 11,119 Revenue from the contracts with customers 92,073 20,181 112,254 95,766 12,209 107,975 Lease revenue — 1,534 1,534 — 1,207 1,207 Total operating revenues $ 92,073 $ 21,715 $ 113,788 $ 95,766 $ 13,416 $ 109,182 Six months ended Six months ended February 29, 2020 February 28, 2019 ($ in thousands) Irrigation Infrastructure Total Irrigation Infrastructure Total Point in time $ 146,400 $ 39,759 $ 186,159 $ 167,025 $ 32,164 $ 199,189 Over time 28,025 4,684 32,709 16,351 2,782 19,134 Revenue from the contracts with customers 174,425 44,443 218,868 183,376 34,946 218,322 Lease revenue — 4,313 4,313 — 2,811 2,811 Total operating revenues $ 174,425 $ 48,756 $ 223,181 $ 183,376 $ 37,757 $ 221,133 Further disaggregation of revenue is disclosed in the Note 16 – Industry Segment Information. For contracts with a length longer than twelve months, the unsatisfied performance obligations were $6.1 million at February 29, 2020. 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. At February 29, 2020, February 28, 2019, and August 31, 2019, contract assets amounted to $0.9 million, $1.5 million, and $1.3 million, respectively. These amounts are included within other current assets on the condensed consolidated balance sheet. Contract liabilities include advance payments from customers and billings in excess of delivery of performance obligations. At February 29, 2020, February 28, 2019, and August 31, 2019, contract liabilities amounted to $13.4 million, $8.7 million, and $18.4 million, respectively. Contract liabilities are included within other current liabilities on the condensed consolidated balance sheets. During the Company’s six months ended February 29, 2020 and February 28, 2019, the Company recognized $12.6 million and $6.5 million of revenue that were included in the liabilities as of August 31, 2019 and August 31, 2018, respectively. The revenue recognized was due to applying advance payments received for the performance obligations completed during the quarter.

Divestitures and Held-For-Sale

Divestitures and Held-For-Sale	6 Months Ended
	Feb. 29, 2020
Discontinued Operations And Disposal Groups [Abstract]
Divestitures and Held-For-Sale	Note 3 – Divestitures and Held-For-Sale 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 operations for the six months ended February 28, 2019. 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 for the six months ended February 28, 2019. 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. In the second quarter of fiscal 2020, the company sold the building for net proceeds of $ 3.9 million , resulting in a gain of $ 1.2 million . The gain on sale is in included in cost of goods sold on the condensed consolidated statement of earnings for the three and six months ended February 29, 2020. The building wa s included within the caption “Assets held-for-sale” for $ 2.7 million in the condensed consolidated balance sheet as of February 28, 2019 and August 31, 2 01 9 .

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Feb. 29, 2020
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. When a period results in a net loss, the impact of outstanding stock awards is excluded from the diluted loss per share calculation as the inclusion would have an anti-dilutive effect. The following table shows the computation of basic and diluted net earnings per share for the three and six months ended February 29, 2020 and February 28, 2019: Three months ended Six months ended ($ and shares in thousands, except per share amounts) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Numerator: Net earnings (loss) $ 5,516 $ (3,440 ) $ 13,861 $ (2,228 ) Denominator: Weighted average shares outstanding 10,825 10,786 10,810 10,776 Diluted effect of stock awards 32 — 33 — Weighted average shares outstanding assuming dilution 10,857 10,786 10,843 10,776 Basic net earnings (loss) per share $ 0.51 $ (0.32 ) $ 1.28 $ (0.21 ) Diluted net earnings (loss) per share $ 0.51 $ (0.32 ) $ 1.28 $ (0.21 ) 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 Six months ended (Units and options in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Restricted stock units 4 7 11 17 Stock options 12 74 6 55 Performance stock units — 10 10 5

Income Taxes

Income Taxes	6 Months Ended
	Feb. 29, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 5 – Income Taxes The Company recorded income tax expense of $1.4 million and income tax benefit of $1.6 million for the three months ended February 29, 2020 and February 28, 2019, respectively and recorded income tax expense of $4.3 million and income tax benefit of $1.2 million for the six months ended February 29, 2020 and February 28, 2019, respectively. It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. The estimated annual effective income tax rate was 23.5 percent and 29.4 percent for the six months ended February 29, 2020 and February 28, 2019, respectively. The decrease in the estimated annual effective income tax rate from February 2019 to February 2020 relates primarily to the change in earnings mix among foreign operations. 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 impact of such events within income tax expense (benefit) was insignificant for the six months ended February 29, 2020 and amounted to a net benefit of $0.3 million for the six months ended February 28, 2019. The United States enacted significant tax reform into law on December 22, 2017 by enacting the U.S. Tax Cuts and Jobs Act (“U.S. Tax Reform”). U.S. Tax Reform made complex and broad changes to the U.S. tax laws. U.S. Tax Reform established new income tax provisions that will affect the Company’s fiscal year 2020, including, but not limited to, establishing a new minimum tax on global intangible low-taxed income (“GILTI”). The Company has elected to account for GILTI as a period cost, the effect of which is reflected in the estimated annual effective tax rate of 23.5 percent for the six months ended February 29, 2020.

Inventories

Inventories	6 Months Ended
	Feb. 29, 2020
Inventory Disclosure [Abstract]
Inventories	Note 6 – Inventories Inventories consisted of the following as of February 29, 2020, February 28, 2019, and August 31, 2019: ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Raw materials and supplies $ 50,240 $ 47,573 $ 49,047 Work in process 6,746 8,715 4,514 Finished goods and purchased parts, net 53,496 51,910 46,812 Total inventory value before LIFO adjustment 110,482 108,198 100,373 Less adjustment to LIFO value (5,028 ) (8,214 ) (8,086 ) Inventories, net $ 105,454 $ 99,984 $ 92,287

Long-Term Debt

Long-Term Debt	6 Months Ended
	Feb. 29, 2020
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) February 29, 2020 February 28, 2019 August 31, 2019 Series A Senior Notes $ 115,000 $ 115,000 $ 115,000 Revolving Credit Facility — — — Elecsys Series 2006A Bonds 1,467 1,673 1,571 Total debt 116,467 116,673 116,571 Less current portion (211 ) (207 ) (209 ) Less unamortized debt issuance costs (491 ) (432 ) (516 ) Total long-term debt $ 115,765 $ 116,034 $ 115,846 Principal payments on the debt are due as follows: Due within $ in thousands 1 year $ 211 2 years 215 3 years 219 4 years 224 5 years 228 Thereafter 115,370 $ 116,467

Financial Derivatives

Financial Derivatives	6 Months Ended
	Feb. 29, 2020
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 February 29, 2020 February 28, 2019 August 31, 2019 Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 247 $ 396 $ 1,073 Foreign currency forward contracts Other current liabilities — (9 ) — Total derivatives designated as hedging instruments $ 247 $ 387 $ 1,073 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ — $ 30 $ 39 Foreign currency forward contracts Other current liabilities — (13 ) — Total derivatives not designated as hedging instruments $ — $ 17 $ 39 Accumulated other comprehensive income included realized and unrealized after-tax gains of $7.2 million, $5.7 million, and $7.0 million at February 29, 2020, February 28, 2019, and August 31, 2019, respectively, related to derivative contracts designated as hedging instruments. Net Investment Hedging Relationships The amount of gain (loss) recognized in other comprehensive income is as follows: Three months ended Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Foreign currency forward contracts, net of tax (benefit) expense of ($86), $25, ($60) and $186, respectively $ 277 $ (8 ) $ 203 $ 643 For the three months ended February 29, 2020, the Company did not settle any foreign currency forward contracts. For the three months ended February 28, 2019, the Company settled foreign currency forward contracts resulting in an after-tax net gain of $0.2 million, which was included in other comprehensive income as part of a currency translation adjustment. For the six months ended February 29, 2020 and February 28, 2019, the Company settled foreign currency forward contracts resulting in an after-tax net gain of $0.8 million and $0.9 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 operations related to ineffectiveness of foreign currency forward contracts related to net investment hedges for the three and six months ended February 29, 2020 and February 28, 2019. At February 29, 2020, February 28, 2019, and August 31, 2019, the Company had outstanding foreign currency forward contracts to sell a notional amount of 32.7 million Euro, on each date, at fixed prices to settle during the next fiscal quarter. Additionally, at February 28, 2019, the Company had an outstanding foreign currency forward contract to sell a notional amount of 43.0 million South African Rand at a fixed price settled 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 operations. At February 29, 2020, the Company had no foreign currency forward contracts outstanding that are not designated as hedging instruments. At February 28, 2019 and August 31, 2019, the Company had notional value of $2.0 million, and $1.8 million, respectively, of U.S. dollar equivalent of foreign currency forward contracts outstanding that are not designated as hedging instruments.

Leases

Leases	6 Months Ended
	Feb. 29, 2020
Leases [Abstract]
Leases	Note 9 – Leases The Company, as lessee, has operating leases primarily for office space, manufacturing facilities, equipment, and vehicles. The Company determines if a contract is or contains a lease at the inception of the contract based on whether the contract conveys the right to control the use of an identified asset over a period of time in exchange for consideration. The Company elected, for all classes of underlying assets, to not separate lease and non-lease components and instead will treat the lease agreement as a single lease component for all asset classes. The Company additionally elected practical expedients to not reassess whether existing contracts are or contain leases, the classification of any existing leases, accounting for initial direct costs for any existing leases, and hindsight in determining the lease term and in assessing impairment of the right-of-use (“ROU”) asset. Short-term operating leases, which have an initial expected term of twelve months or less, are not recorded on the condensed consolidated balance sheet. Such fixed lease payments are recognized within the condensed consolidated statement of earnings on a straight-line basis over the lease term. Any variable payments associated with short-term operating leases are recognized within the condensed consolidated statement of earnings as they are incurred. The Company did not recognize any expense for such leases during the three and six months ended February 29, 2020. Many of the Company’s leases contain renewal or extension options. The Company includes all renewal or extension periods that it is reasonably certain to exercise at lease commencement within the measurement of the ROU asset and lease liability. The Company’s lease portfolio consists of operating leases which are included in operating lease ROU assets and operating lease liabilities in the condensed consolidated balance sheet. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. To calculate the present value of future lease payments, the Company uses an incremental borrowing rate that estimates a collateralized rate based on the expected term of the lease. Lease cost and other information related to the Company’s operating leases are as follows: ($ in thousands) Three months ended February 29, 2020 Six months ended February 29, 2020 Operating lease cost (cost resulting from lease payments) 1,493 2,913 Variable lease cost (cost excluded from lease payments) 101 201 Total lease cost $ 1,594 $ 3,114 Operating cash outflows from operating leases 1,733 2,820 Weighted average lease term - operating leases 9.5 years 9.5 years Weighted average discount rate - operating leases 3.2 % 3.2 % Supplemental balance sheet information related to operating leases as of the second quarter of 2020 is as follows: ($ in thousands) Classification February 29, 2020 Operating lease ROU assets Operating lease right-of-use assets $ 27,257 Operating lease short-term liabilities Other current liabilities 4,790 Operating lease long-term liabilities Operating lease liabilities 25,919 Total lease liabilities $ 30,709 The minimum lease payments under operating leases expiring subsequent to February 29, 2020 are as follows: Fiscal year ending $ in thousands 2020 $ 2,819 2021 5,501 2022 5,201 2023 3,535 2024 3,157 Thereafter 16,324 Total lease payments 36,537 Less: interest 5,828 Present value of lease liabilities $ 30,709 As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2019 and under the previous lease accounting standard, future minimum lease payments under operating leases with an initial or remaining term in excess of one year at August 31, 2019 would have been as follows: Fiscal year ending $ in thousands 2020 $ 6,065 2021 5,266 2022 4,771 2023 3,414 2024 3,107 Thereafter 20,119 Total lease payments $ 42,742

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Feb. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10 – 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 February 29, 2020, February 28, 2019, and August 31, 2019. There were no transfers between any levels for the periods presented. February 29, 2020 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 101,272 $ — $ — $ 101,272 Marketable securities: Corporate bonds — 14,555 — 14,555 U.S. treasury securities — 4,185 — 4,185 Derivative assets — 247 — 247 February 28, 2019 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 102,778 $ — $ — $ 102,778 Derivative assets — 426 — 426 Derivative liabilities — (22 ) — (22 ) August 31, 2019 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 127,204 $ — $ — $ 127,204 Derivative assets — 1,112 — 1,112 During the second quarter of fiscal 2020, the Company made a net investment of $18.7 million in marketable securities, consisting of United States treasury bonds and investment grade corporate bonds. The marketable securities are classified as available-for-sale and are carried at fair value with the change in unrealized gains and losses reported as a separate component on the condensed consolidated statements of comprehensive income (loss) until realized. The Company determines fair value using data points that are observable, such as quoted prices and interest rates. The amortized cost of the investments approximates fair value. Investment income is recorded within other (expense) income on the condensed consolidated statements of operations. As of February 29, 2020, approximately 55% of the Company’s marketable securities investments mature within one year and 45% mature within one to three years. There were no required fair value adjustments for assets and liabilities measured at fair value on a non-recurring basis for the six months ended February 29, 2020 or February 28, 2019.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Feb. 29, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 – 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 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 In June 2019, the Company was informed by letter that the Department of Justice, Civil Division and U.S. Attorney’s Office for the Northern District of New York, with the assistance of the Department of Transportation, Office of Inspector General, are conducting an investigation of the Company relating to the Company’s X-Lite end terminal and potential violations of the federal civil False Claims Act. Depending on the outcome of this matter, there could be a material adverse effect on the Company’s business or its consolidated financial statements. Given the current posture of the matter, the Company is unable to estimate a range of potential loss, if any, or to express an opinion regarding the ultimate outcome. Environmental Remediation The Company has committed to a preliminary plan to remediate environmental contamination of the groundwater at and adjacent to its Lindsay, Nebraska facility (the “site”) as a result of discussions with the U.S. Environmental Protection Agency (the “EPA”) and the Nebraska Department of Environmental Quality (the “NDEQ”) during the third quarter of fiscal 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 the preliminary discussions with the EPA, the Company anticipates that a definitive plan will not be agreed upon until the second half of fiscal 2020 or later. The current estimated aggregate accrued cost of this remediation plan of $15.6 million is based on consideration of several remediation options that would use different technologies, each of which the Company believes could be successful in meeting the long-term regulatory requirements of the site. The Company accrues the anticipated cost of investigation and remediation when the obligation is probable and can be reasonably estimated. While the Company believes the current accrual is a good faith estimate of the long-term cost of remediation at this site based on the preliminary analysis available at the time of this filing, the estimate of costs and their timing could change as a result of a number of factors, including (1) EPA and NDEQ input on the proposed remediation plan and any changes which they may subsequently require, (2) refinement of cost estimates and length of time required to complete remediation and post-remediation operations and maintenance, (3) effectiveness of the technology chosen in remediation of the site as well as changes in technology that may be available in the future, and (4) unforeseen circumstances existing at the site. As a result of these factors, the actual amount of costs incurred by the Company in connection with the remediation of contamination of its Lindsay, Nebraska site could exceed the amounts accrued for this expense at this time. While any revisions could be material to the operating results of any fiscal quarter or fiscal year, the Company does not expect such additional expenses would have a material adverse effect on its liquidity or financial condition. The following table summarizes the undiscounted environmental remediation liability classifications included in the condensed consolidated balance sheet s as of February 29, 2020 , February 28, 2019 , and August 31, 2019 : ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Other current liabilities $ 1,243 $ 1,243 $ 1,243 Other noncurrent liabilities 14,396 14,993 14,674 Total environmental remediation liabilities $ 15,639 $ 16,236 $ 15,917

Warranties

Warranties	6 Months Ended
	Feb. 29, 2020
Product Warranties Disclosures [Abstract]
Warranties	Note 12 – Warranties The following table provides the changes in the Company’s product warranties: Three months ended Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Product warranty accrual balance, beginning of period $ 8,788 $ 7,240 $ 8,960 $ 7,109 Liabilities accrued for warranties during the period 2,135 1,652 3,616 2,830 Warranty claims paid during the period (1,933 ) (1,259 ) (3,586 ) (2,306 ) Changes in estimates — 338 — 338 Product warranty accrual balance, end of period $ 8,990 $ 7,971 $ 8,990 $ 7,971

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Feb. 29, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 13 – 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 $1.5 million and $1.1 million for the three months ended February 29, 2020 and 2019, respectively. Share-based compensation expense was $2.7 million and $2.4 million for the six months ended February 29, 2020 and February 28, 2019, respectively. During the second quarter of fiscal 2020, the Company awarded its annual grant of RSUs to independent members of the Board of Directors at a grant date fair value of $93.74, resulting in a total of 6,650 RSUs being granted.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Feb. 29, 2020
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 14 – Other Current Liabilities ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Other current liabilities: Compensation and benefits $ 13,398 $ 13,102 $ 13,960 Contract liabilities 12,323 8,660 14,763 Warranties 8,990 7,971 8,960 Operating lease liabilities 4,790 — — Dealer related liabilities 3,681 4,122 3,246 Deferred revenue - lease 2,190 373 2,985 Tax related liabilities 1,709 1,223 1,469 Accrued insurance 1,624 2,010 1,482 Accrued environmental liabilities 1,243 1,243 1,243 Other 4,355 6,121 4,380 Total other current liabilities $ 54,303 $ 44,825 $ 52,488

Share Repurchases

Share Repurchases	6 Months Ended
	Feb. 29, 2020
Equity [Abstract]
Share Repurchases	Note 15 – Share Repurchases There were no shares repurchased during the three and six months ended February 29, 2020 and February 28, 2019 under the Company’s share repurchase program. The remaining amount available under the repurchase program was $63.7 million as of February 29, 2020.

Industry Segment Information

Industry Segment Information	6 Months Ended
	Feb. 29, 2020
Segment Reporting [Abstract]
Industry Segment Information	Note 16 – 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 and six months ended February 29, 2020 and February 28, 2019. 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, remote irrigation management and scheduling technology, irrigation consulting and design and industrial “internet of things”, or IoT, solutions. The irrigation reporting segment consists of one operating segment. Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment; the 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 Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Operating revenues: Irrigation: North America $ 65,667 $ 57,681 $ 118,280 $ 114,145 International 26,406 38,085 56,145 69,231 Irrigation total 92,073 95,766 174,425 183,376 Infrastructure 21,715 13,416 48,756 37,757 Total operating revenues $ 113,788 $ 109,182 $ 223,181 $ 221,133 Operating income (loss): Irrigation $ 9,614 $ 7,521 $ 19,371 $ 15,304 Infrastructure 6,358 (446 ) 15,126 3,722 Corporate (7,330 ) (11,535 ) (13,579 ) (21,446 ) Total operating income (loss) 8,642 (4,460 ) 20,918 (2,420 ) Interest and other expense, net (1,775 ) (608 ) (2,796 ) (967 ) Earnings (loss) before income taxes $ 6,867 $ (5,068 ) $ 18,122 $ (3,387 ) ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Total assets: Irrigation $ 318,689 $ 309,532 $ 292,202 Infrastructure 82,608 69,829 85,848 Corporate 133,033 120,312 122,264 $ 534,330 $ 499,673 $ 500,314

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Feb. 29, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
New Accounting Pronouncements	Recent Accounting Guidance Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments Recent Accounting Guidance Adopted In February 2016, the FASB issued ASU 2016-02, Leases In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Feb. 29, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Disaggregation of Revenue by Segment	A breakout by segment of revenue recognized over time versus point in time for the three and six months ended February 29, 2020 and February 28, 2019 is as follows: Three months ended Three months ended February 29, 2020 February 28, 2019 ($ in thousands) Irrigation Infrastructure Total Irrigation Infrastructure Total Point in time $ 73,025 $ 18,153 $ 91,178 $ 85,939 $ 10,917 $ 96,856 Over time 19,048 2,028 21,076 9,827 1,292 11,119 Revenue from the contracts with customers 92,073 20,181 112,254 95,766 12,209 107,975 Lease revenue — 1,534 1,534 — 1,207 1,207 Total operating revenues $ 92,073 $ 21,715 $ 113,788 $ 95,766 $ 13,416 $ 109,182 Six months ended Six months ended February 29, 2020 February 28, 2019 ($ in thousands) Irrigation Infrastructure Total Irrigation Infrastructure Total Point in time $ 146,400 $ 39,759 $ 186,159 $ 167,025 $ 32,164 $ 199,189 Over time 28,025 4,684 32,709 16,351 2,782 19,134 Revenue from the contracts with customers 174,425 44,443 218,868 183,376 34,946 218,322 Lease revenue — 4,313 4,313 — 2,811 2,811 Total operating revenues $ 174,425 $ 48,756 $ 223,181 $ 183,376 $ 37,757 $ 221,133

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Feb. 29, 2020
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 and six months ended February 29, 2020 and February 28, 2019: Three months ended Six months ended ($ and shares in thousands, except per share amounts) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Numerator: Net earnings (loss) $ 5,516 $ (3,440 ) $ 13,861 $ (2,228 ) Denominator: Weighted average shares outstanding 10,825 10,786 10,810 10,776 Diluted effect of stock awards 32 — 33 — Weighted average shares outstanding assuming dilution 10,857 10,786 10,843 10,776 Basic net earnings (loss) per share $ 0.51 $ (0.32 ) $ 1.28 $ (0.21 ) Diluted net earnings (loss) per share $ 0.51 $ (0.32 ) $ 1.28 $ (0.21 )
Schedule of Anti-dilutive 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 Six months ended (Units and options in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Restricted stock units 4 7 11 17 Stock options 12 74 6 55 Performance stock units — 10 10 5

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Feb. 29, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following as of February 29, 2020, February 28, 2019, and August 31, 2019: ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Raw materials and supplies $ 50,240 $ 47,573 $ 49,047 Work in process 6,746 8,715 4,514 Finished goods and purchased parts, net 53,496 51,910 46,812 Total inventory value before LIFO adjustment 110,482 108,198 100,373 Less adjustment to LIFO value (5,028 ) (8,214 ) (8,086 ) Inventories, net $ 105,454 $ 99,984 $ 92,287

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Feb. 29, 2020
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) February 29, 2020 February 28, 2019 August 31, 2019 Series A Senior Notes $ 115,000 $ 115,000 $ 115,000 Revolving Credit Facility — — — Elecsys Series 2006A Bonds 1,467 1,673 1,571 Total debt 116,467 116,673 116,571 Less current portion (211 ) (207 ) (209 ) Less unamortized debt issuance costs (491 ) (432 ) (516 ) Total long-term debt $ 115,765 $ 116,034 $ 115,846
Schedule of Principal Payments Due on Long-Term Debt	Principal payments on the debt are due as follows: Due within $ in thousands 1 year $ 211 2 years 215 3 years 219 4 years 224 5 years 228 Thereafter 115,370 $ 116,467

Financial Derivatives (Tables)

Financial Derivatives (Tables)	6 Months Ended
	Feb. 29, 2020
Derivative Instruments And Hedges [Abstract]
Schedule of Financial Derivatives	Fair values of derivative instruments are as follows: ($ in thousands) Balance sheet location February 29, 2020 February 28, 2019 August 31, 2019 Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 247 $ 396 $ 1,073 Foreign currency forward contracts Other current liabilities — (9 ) — Total derivatives designated as hedging instruments $ 247 $ 387 $ 1,073 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ — $ 30 $ 39 Foreign currency forward contracts Other current liabilities — (13 ) — Total derivatives not designated as hedging instruments $ — $ 17 $ 39
Schedule of Derivative Instruments, Effect on Other Comprehensive Income	The amount of gain (loss) recognized in other comprehensive income is as follows: Three months ended Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Foreign currency forward contracts, net of tax (benefit) expense of ($86), $25, ($60) and $186, respectively $ 277 $ (8 ) $ 203 $ 643

Leases (Tables)

Leases (Tables)	6 Months Ended
	Feb. 29, 2020
Leases [Abstract]
Schedule of Lease Cost and Other Information Related to Company's Operating Leases	Lease cost and other information related to the Company’s operating leases are as follows: ($ in thousands) Three months ended February 29, 2020 Six months ended February 29, 2020 Operating lease cost (cost resulting from lease payments) 1,493 2,913 Variable lease cost (cost excluded from lease payments) 101 201 Total lease cost $ 1,594 $ 3,114 Operating cash outflows from operating leases 1,733 2,820 Weighted average lease term - operating leases 9.5 years 9.5 years Weighted average discount rate - operating leases 3.2 % 3.2 %
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases as of the second quarter of 2020 is as follows: ($ in thousands) Classification February 29, 2020 Operating lease ROU assets Operating lease right-of-use assets $ 27,257 Operating lease short-term liabilities Other current liabilities 4,790 Operating lease long-term liabilities Operating lease liabilities 25,919 Total lease liabilities $ 30,709
Schedule of Minimum Lease Payments Under Operating Leases	The minimum lease payments under operating leases expiring subsequent to February 29, 2020 are as follows: Fiscal year ending $ in thousands 2020 $ 2,819 2021 5,501 2022 5,201 2023 3,535 2024 3,157 Thereafter 16,324 Total lease payments 36,537 Less: interest 5,828 Present value of lease liabilities $ 30,709
Schedule of Future Minimum Lease Payments Under Operating Leases	As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2019 and under the previous lease accounting standard, future minimum lease payments under operating leases with an initial or remaining term in excess of one year at August 31, 2019 would have been as follows: Fiscal year ending $ in thousands 2020 $ 6,065 2021 5,266 2022 4,771 2023 3,414 2024 3,107 Thereafter 20,119 Total lease payments $ 42,742

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Feb. 29, 2020
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 February 29, 2020, February 28, 2019, and August 31, 2019. There were no transfers between any levels for the periods presented. February 29, 2020 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 101,272 $ — $ — $ 101,272 Marketable securities: Corporate bonds — 14,555 — 14,555 U.S. treasury securities — 4,185 — 4,185 Derivative assets — 247 — 247 February 28, 2019 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 102,778 $ — $ — $ 102,778 Derivative assets — 426 — 426 Derivative liabilities — (22 ) — (22 ) August 31, 2019 ($ in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 127,204 $ — $ — $ 127,204 Derivative assets — 1,112 — 1,112

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Feb. 29, 2020
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 condensed consolidated balance sheet s as of February 29, 2020 , February 28, 2019 , and August 31, 2019 : ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Other current liabilities $ 1,243 $ 1,243 $ 1,243 Other noncurrent liabilities 14,396 14,993 14,674 Total environmental remediation liabilities $ 15,639 $ 16,236 $ 15,917

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Feb. 29, 2020
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following table provides the changes in the Company’s product warranties: Three months ended Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Product warranty accrual balance, beginning of period $ 8,788 $ 7,240 $ 8,960 $ 7,109 Liabilities accrued for warranties during the period 2,135 1,652 3,616 2,830 Warranty claims paid during the period (1,933 ) (1,259 ) (3,586 ) (2,306 ) Changes in estimates — 338 — 338 Product warranty accrual balance, end of period $ 8,990 $ 7,971 $ 8,990 $ 7,971

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Feb. 29, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities Current	Other Current Liabilities ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Other current liabilities: Compensation and benefits $ 13,398 $ 13,102 $ 13,960 Contract liabilities 12,323 8,660 14,763 Warranties 8,990 7,971 8,960 Operating lease liabilities 4,790 — — Dealer related liabilities 3,681 4,122 3,246 Deferred revenue - lease 2,190 373 2,985 Tax related liabilities 1,709 1,223 1,469 Accrued insurance 1,624 2,010 1,482 Accrued environmental liabilities 1,243 1,243 1,243 Other 4,355 6,121 4,380 Total other current liabilities $ 54,303 $ 44,825 $ 52,488

Industry Segment Information (T

Industry Segment Information (Tables)	6 Months Ended
	Feb. 29, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three months ended Six months ended ($ in thousands) February 29, 2020 February 28, 2019 February 29, 2020 February 28, 2019 Operating revenues: Irrigation: North America $ 65,667 $ 57,681 $ 118,280 $ 114,145 International 26,406 38,085 56,145 69,231 Irrigation total 92,073 95,766 174,425 183,376 Infrastructure 21,715 13,416 48,756 37,757 Total operating revenues $ 113,788 $ 109,182 $ 223,181 $ 221,133 Operating income (loss): Irrigation $ 9,614 $ 7,521 $ 19,371 $ 15,304 Infrastructure 6,358 (446 ) 15,126 3,722 Corporate (7,330 ) (11,535 ) (13,579 ) (21,446 ) Total operating income (loss) 8,642 (4,460 ) 20,918 (2,420 ) Interest and other expense, net (1,775 ) (608 ) (2,796 ) (967 ) Earnings (loss) before income taxes $ 6,867 $ (5,068 ) $ 18,122 $ (3,387 ) ($ in thousands) February 29, 2020 February 28, 2019 August 31, 2019 Total assets: Irrigation $ 318,689 $ 309,532 $ 292,202 Infrastructure 82,608 69,829 85,848 Corporate 133,033 120,312 122,264 $ 534,330 $ 499,673 $ 500,314

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Sep. 01, 2019	Aug. 31, 2019	Feb. 28, 2019
Basis Of Presentation [Line Items]
Right of use asset	$ 27,257		$ 0	$ 0
Lease liability	$ 30,709
ASU 2016-02 [Member]
Basis Of Presentation [Line Items]
Right of use asset		$ 26,200
Lease liability		$ 29,500

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Disaggregation of Revenue by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 112,254	$ 107,975	$ 218,868	$ 218,322
Lease revenue	1,534	1,207	4,313	2,811
Operating revenues	113,788	109,182	223,181	221,133
Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	92,073	95,766	174,425	183,376
Lease revenue	0	0	0	0
Operating revenues	92,073	95,766	174,425	183,376
Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	20,181	12,209	44,443	34,946
Lease revenue	1,534	1,207	4,313	2,811
Operating revenues	21,715	13,416	48,756	37,757
Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	91,178	96,856	186,159	199,189
Point in Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	73,025	85,939	146,400	167,025
Point in Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	18,153	10,917	39,759	32,164
Over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	21,076	11,119	32,709	19,134
Over Time [Member] | Irrigation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	19,048	9,827	28,025	16,351
Over Time [Member] | Infrastructure [Member]
Disaggregation Of Revenue [Line Items]
Revenue from the contracts with customers	$ 2,028	$ 1,292	$ 4,684	$ 2,782

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Aug. 31, 2019
Disaggregation Of Revenue [Line Items]
Unsatisfied performance obligation amount	$ 6.1
Revenue recognized	12.6	$ 6.5
Other Current Assets [Member]
Disaggregation Of Revenue [Line Items]
Contract assets	0.9	1.5	$ 1.3
Other Current Liabilities [Member]
Disaggregation Of Revenue [Line Items]
Contract liabilities	$ 13.4	$ 8.7	$ 18.4

Divestitures and Held-For-Sale

Divestitures and Held-For-Sale (Narrative) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 29, 2020USD ($)	Feb. 29, 2020USD ($)	Feb. 28, 2019USD ($)	Aug. 31, 2019USD ($)	Aug. 31, 2018Facility
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loss on sale of irrigation dealership		$ 0	$ 67
Note receivable from sale of business		0	5,823
Assets held-for-sale	$ 0	0	2,744	$ 2,744
Net proceeds from the sale of building	3,900	3,955	0
Gain from the sale of building	$ 1,200	$ 1,191	0
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

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		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Earnings Per Share [Abstract]
Net earnings (loss)	$ 5,516	$ (3,440)	$ 13,861	$ (2,228)
Weighted average shares outstanding	10,825	10,786	10,810	10,776
Diluted effect of stock awards	32	0	33	0
Weighted average shares outstanding assuming dilution	10,857	10,786	10,843	10,776
Basic net earnings (loss) per share	$ 0.51	$ (0.32)	$ 1.28	$ (0.21)
Diluted net earnings (loss) per share	$ 0.51	$ (0.32)	$ 1.28	$ (0.21)

Net Earnings Per Share (Sched_2

Net Earnings Per Share (Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
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	4	7	11	17
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	12	74	6	55
Performance 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	0	10	10	5

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 1,351	$ (1,628)	$ 4,261	$ (1,159)
Estimated annual effective income tax rate			23.50%	29.40%
Tax adjustment for unusual items				$ 300

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 50,240	$ 49,047	$ 47,573
Work in process	6,746	4,514	8,715
Finished goods and purchased parts, net	53,496	46,812	51,910
Total inventory value before LIFO adjustment	110,482	100,373	108,198
Less adjustment to LIFO value	(5,028)	(8,086)	(8,214)
Inventories, net	$ 105,454	$ 92,287	$ 99,984

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Debt Instrument [Line Items]
Total debt	$ 116,467	$ 116,571	$ 116,673
Less current portion	(211)	(209)	(207)
Less unamortized debt issuance costs	(491)	(516)	(432)
Total long-term debt	115,765	115,846	116,034
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	0	0	0
Elecsys Series 2006A Bonds [Member]
Debt Instrument [Line Items]
Total debt	1,467	1,571	1,673
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	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Debt Disclosure [Abstract]
1 year	$ 211
2 years	215
3 years	219
4 years	224
5 years	228
Thereafter	115,370
Total debt	$ 116,467	$ 116,571	$ 116,673

Financial Derivatives (Schedule

Financial Derivatives (Schedule of Financial Derivatives) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	$ 247	$ 1,073	$ 387
Derivatives Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	247	1,073	396
Derivatives Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0	(9)
Derivatives Not Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Total derivatives	0	39	17
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	0	39	30
Derivatives Not Designated As Hedging Instruments [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 0	$ 0	$ (13)

Financial Derivatives (Narrativ

Financial Derivatives (Narrative) (Details) € in Millions, R in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Feb. 29, 2020USD ($)	Feb. 28, 2019USD ($)	Feb. 29, 2020USD ($)	Feb. 28, 2019USD ($)	Feb. 29, 2020EUR (€)	Aug. 31, 2019USD ($)	Aug. 31, 2019EUR (€)	Feb. 28, 2019EUR (€)	Feb. 28, 2019ZAR (R)
Foreign Exchange Forward [Member] | Derivatives Not Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Outstanding foreign currency forward contracts	$ 0	$ 2	$ 0	$ 2		$ 1.8
Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Realized and unrealized gains, net of related income tax effects	7.2	5.7	7.2	5.7		$ 7
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Foreign currency translation forward contracts, after tax net gain	0	0.2	0.8	0.9
Derivative contracts ineffective amount	$ 0	$ 0	$ 0	$ 0
Outstanding foreign currency forward contracts					€ 32.7		€ 32.7	€ 32.7	R 43

Financial Derivatives (Schedu_2

Financial Derivatives (Schedule of Derivative Instruments, Effect on Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Foreign Currency Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, net of tax (benefit) expense of ($86), $25, ($60) and $186, respectively	$ 277	$ (8)	$ 203	$ 643

Financial Derivatives (Schedu_3

Financial Derivatives (Schedule of Derivative Instruments, Effect on Other Comprehensive Income) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Foreign Currency Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Tax (benefit) expense	$ (86)	$ 25	$ (60)	$ 186

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Feb. 29, 2020	Feb. 29, 2020
Leases [Abstract]
Lease expense	$ 0	$ 0

Leases (Schedule of Lease Cost

Leases (Schedule of Lease Cost and Other Information Related to Company's Operating Leases) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 29, 2020USD ($)	Feb. 29, 2020USD ($)
Lease Cost [Abstract]
Operating lease cost (cost resulting from lease payments)	$ 1,493	$ 2,913
Variable lease cost (cost excluded from lease payments)	101	201
Total lease cost	1,594	3,114
Operating cash outflows from operating leases	$ 1,733	$ 2,820
Weighted average lease term - operating leases	9 years 6 months	9 years 6 months
Weighted average discount rate - operating leases	3.20%	3.20%

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information Related to Operating Leases) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Leases [Abstract]
Operating lease ROU assets	$ 27,257	$ 0	$ 0
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseRightOfUseAsset
Operating lease short-term liabilities	$ 4,790	0	0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent
Operating lease long-term liabilities	$ 25,919	$ 0	$ 0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseLiabilityNoncurrent
Total lease liabilities	$ 30,709

Leases (Schedule of Minimum Lea

Leases (Schedule of Minimum Lease Payments Under Operating Leases) (Details) $ in Thousands	Feb. 29, 2020USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2020	$ 2,819
2021	5,501
2022	5,201
2023	3,535
2024	3,157
Thereafter	16,324
Total lease payments	36,537
Less: interest	5,828
Present value of lease liabilities	$ 30,709

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments Under Operating Leases) (Details) $ in Thousands	Aug. 31, 2019USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
2020	$ 6,065
2021	5,266
2022	4,771
2023	3,414
2024	3,107
Thereafter	20,119
Total lease payments	$ 42,742

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Financial Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 101,272	$ 127,204	$ 102,778
Marketable securities:
Marketable securities	18,700
Derivative assets	247	1,112	426
Derivative liabilities			(22)
Corporate Bonds [Member]
Marketable securities:
Marketable securities	14,555
U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	4,185
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	101,272	127,204	102,778
Marketable securities:
Derivative assets	0	0	0
Derivative liabilities			0
Level 1 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	0
Level 1 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0	0
Marketable securities:
Derivative assets	247	1,112	426
Derivative liabilities			(22)
Level 2 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	14,555
Level 2 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	4,185
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0	0
Marketable securities:
Derivative assets	0	$ 0	0
Derivative liabilities			$ 0
Level 3 [Member] | Corporate Bonds [Member]
Marketable securities:
Marketable securities	0
Level 3 [Member] | U.S. Treasury Securities [Member]
Marketable securities:
Marketable securities	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Marketable securities	$ 18,700,000
Percentage of marketable securities investments mature within one year	55.00%
Percentage of marketable securities investments mature within one to three years	45.00%
Fair Value, Measurements, Nonrecurring [Member]
Assets fair value adjustments	$ 0	$ 0
Liabilities fair value adjustments	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Millions	Feb. 29, 2020USD ($)
Lindsay, Nebraska Facility [Member]
Commitments And Contingencies [Line Items]
Current environmental remediation accrual	$ 15.6

Commitments and Contingencies_3

Commitments and Contingencies (Summary of Undiscounted Environmental Remediation Liability Classifications) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Commitments And Contingencies Disclosure [Abstract]
Other current liabilities	$ 1,243	$ 1,243	$ 1,243
Other noncurrent liabilities	14,396	14,674	14,993
Total environmental remediation liabilities	$ 15,639	$ 15,917	$ 16,236

Warranties (Schedule of Product

Warranties (Schedule of Product Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Product Warranties Disclosures [Abstract]
Product warranty accrual balance, beginning of period	$ 8,788	$ 7,240	$ 8,960	$ 7,109
Liabilities accrued for warranties during the period	2,135	1,652	3,616	2,830
Warranty claims paid during the period	(1,933)	(1,259)	(3,586)	(2,306)
Changes in estimates	0	338	0	338
Product warranty accrual balance, end of period	$ 8,990	$ 7,971	$ 8,990	$ 7,971

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1.5	$ 1.1	$ 2.7	$ 2.4
Board of Directors [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per share	$ 93.74		$ 93.74
Number of shares granted	6,650,000

Other Current Liabilities (Sche

Other Current Liabilities (Schedule of Other Liabilities Current) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Other Liabilities Disclosure [Abstract]
Compensation and benefits	$ 13,398	$ 13,960	$ 13,102
Contract liabilities	12,323	14,763	8,660
Warranties	8,990	8,960	7,971
Operating lease liabilities	4,790	0	0
Dealer related liabilities	3,681	3,246	4,122
Deferred revenue - lease	2,190	2,985	373
Tax related liabilities	1,709	1,469	1,223
Accrued insurance	1,624	1,482	2,010
Accrued environmental liabilities	1,243	1,243	1,243
Other	4,355	4,380	6,121
Total other current liabilities	$ 54,303	$ 52,488	$ 44,825

Share Repurchases (Narrative) (

Share Repurchases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Equity [Abstract]
Number of shares of common stock repurchased during the period	0	0	0	0
Remaining amount available under the repurchase program	$ 63.7		$ 63.7

Industry Segment Information (N

Industry Segment Information (Narrative) (Details)	3 Months Ended		6 Months Ended
	Feb. 29, 2020customer	Feb. 28, 2019customer	Feb. 29, 2020Segmentcustomer	Feb. 28, 2019customer
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%	10.00%	10.00%
Number of major customers | customer	0	0	0	0

Industry Segment Information (S

Industry Segment Information (Schedule of Segment Reporting Information Impacts on Statement of Operations, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Feb. 29, 2020	Feb. 28, 2019
Segment Reporting Information [Line Items]
Total operating revenues	$ 113,788	$ 109,182	$ 223,181	$ 221,133
Total operating income (loss)	8,642	(4,460)	20,918	(2,420)
Interest and other expense, net	(1,775)	(608)	(2,796)	(967)
Earnings (loss) before income taxes	6,867	(5,068)	18,122	(3,387)
Irrigation [Member]
Segment Reporting Information [Line Items]
Total operating revenues	92,073	95,766	174,425	183,376
Total operating income (loss)	9,614	7,521	19,371	15,304
Irrigation [Member] | North America [Member]
Segment Reporting Information [Line Items]
Total operating revenues	65,667	57,681	118,280	114,145
Irrigation [Member] | International [Member]
Segment Reporting Information [Line Items]
Total operating revenues	26,406	38,085	56,145	69,231
Infrastructure [Member]
Segment Reporting Information [Line Items]
Total operating revenues	21,715	13,416	48,756	37,757
Total operating income (loss)	6,358	(446)	15,126	3,722
Corporate Segment
Segment Reporting Information [Line Items]
Total operating income (loss)	$ (7,330)	$ (11,535)	$ (13,579)	$ (21,446)

Industry Segment Information _2

Industry Segment Information (Schedule of Segment Reporting Information Impacts on Balance Sheet, by Segment) (Details) - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019	Feb. 28, 2019
Segment Reporting Information [Line Items]
Total assets	$ 534,330	$ 500,314	$ 499,673
Irrigation [Member]
Segment Reporting Information [Line Items]
Total assets	318,689	292,202	309,532
Infrastructure [Member]
Segment Reporting Information [Line Items]
Total assets	82,608	85,848	69,829
Corporate Segment
Segment Reporting Information [Line Items]
Total assets	$ 133,033	$ 122,264	$ 120,312