Guarantor Subsidiaries (Tables)

6 Months Ended

Feb. 28, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statements of Earnings and Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME

(In thousands)

	Three Months Ended February 28, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	47,407		$	121,600		$	201,363		$	—		$	370,370
Cost of products sold	14,938			87,004			128,869			—			230,811
Gross profit	32,469			34,596			72,494			—			139,559
Selling, administrative and engineering expenses	18,527			24,376			47,074			—			89,977
Amortization of intangible assets	318			3,282			4,038			—			7,638
Operating profit	13,624			6,938			21,382			—			41,944
Financing costs, net	6,409			1			(150		)	—			6,260
Intercompany expense (income), net	(4,651		)	(876		)	5,527			—			—
Other expense (income), net	(383		)	(53		)	400			—			(36		)
Earnings before income tax expense	12,249			7,866			15,605			—			35,720
Income tax expense	2,498			1,604			3,183			—			7,285
Net earnings before equity in earnings of subsidiaries	9,751			6,262			12,422			—			28,435
Equity in earnings of subsidiaries	18,684			10,765			(589		)	(28,860		)	—
Net earnings	$	28,435		$	17,027		$	11,833		$	(28,860	)	$	28,435
Comprehensive income	$	16,464		$	4,840		$	12,009		$	(16,849	)	$	16,464

	Three Months Ended February 29, 2012
	Parent			Guarantors		Non-Guarantors			Eliminations			Consolidated
Net sales	$	49,514		$	137,431	$	191,079		$	—		$	378,024
Cost of products sold	17,114			97,651		121,967			—			236,732
Gross profit	32,400			39,780		69,112			—			141,292
Selling, administrative and engineering expenses	19,660			26,612		38,491			—			84,763
Amortization of intangible assets	335			3,411		3,327			—			7,073
Operating profit	12,405			9,757		27,294			—			49,456
Financing costs, net	8,035			5		(219		)	—			7,821
Intercompany expense (income), net	(8,682		)	1,733		6,949			—			—
Other expense (income), net	822			1,330		(2,323		)	—			(171		)
Earnings before income tax expense	12,230			6,689		22,887			—			41,806
Income tax expense	2,818			1,541		5,272			—			9,631
Net earnings before equity in earnings of subsidiaries	9,412			5,148		17,615			—			32,175
Equity in earnings of subsidiaries	22,763			17,819		1,926			(42,508		)	—
Net earnings	$	32,175		$	22,967	$	19,541		$	(42,508	)	$	32,175
Comprehensive income	$	35,937		$	24,589	$	22,041		$	(46,630	)	$	35,937

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME

(In thousands)

	Six Months Ended February 28, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	93,245		$	245,717		$	408,656		$	—		$	747,618
Cost of products sold	27,346			174,872			258,855			—			461,073
Gross profit	65,899			70,845			149,801			—			286,545
Selling, administrative and engineering expenses	35,980			49,416			92,411			—			177,807
Amortization of intangible assets	639			6,731			8,122			—			15,492
Operating profit	29,280			14,698			49,268			—			93,246
Financing costs, net	12,767			6			(191		)	—			12,582
Intercompany expense (income), net	(11,921		)	1,079			10,842			—			—
Other expense, net	(747		)	(369		)	1,444			—			328
Earnings before income tax expense	29,181			13,982			37,173			—			80,336
Income tax expense	5,638			2,738			7,182			—			15,558
Net earnings before equity in earnings of subsidiaries	23,543			11,244			29,991			—			64,778
Equity in earnings of subsidiaries	41,235			28,664			435			(70,334		)	—
Net earnings	$	64,778		$	39,908		$	30,426		$	(70,334	)	$	64,778
Comprehensive income	$	64,982		$	33,698		$	38,028		$	(71,726	)	$	64,982

	Six Months Ended February 29, 2012
	Parent			Guarantors		Non-Guarantors			Eliminations			Consolidated
Net sales	$	98,034		$	273,872	$	398,917		$	—		$	770,823
Cost of products sold	32,393			192,283		252,247			—			476,923
Gross profit	65,641			81,589		146,670			—			293,900
Selling, administrative and engineering expenses	40,326			52,874		79,672			—			172,872
Amortization of intangible assets	670			6,831		6,790			—			14,291
Operating profit	24,645			21,884		60,208			—			106,737
Financing costs, net	16,272			8		(237		)	—			16,043
Intercompany expense (income), net	(16,173		)	2,299		13,874			—			—
Other expense (income), net	1,015			1,674		(2,203		)	—			486
Earnings before income tax expense	23,531			17,903		48,774			—			90,208
Income tax expense	5,440			4,142		11,277			—			20,859
Net earnings before equity in earnings of subsidiaries	18,091			13,761		37,497			—			69,349
Equity in earnings of subsidiaries	51,258			34,613		1,438			(87,309		)	—
Net earnings	$	69,349		$	48,374	$	38,935		$	(87,309	)	$	69,349
Comprehensive income	$	40,725		$	32,928	$	33,362		$	(66,290	)	$	40,725

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

(In thousands)

	February 28, 2013
	Parent		Guarantors		Non-Guarantors			Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	5,721	$	—	$	85,102		$	—		$	90,823
Accounts receivable, net	19,233		71,033		148,335			—			238,601
Inventories, net	29,981		78,581		108,978			—			217,540
Deferred income taxes	18,827		—		4,777			—			23,604
Other current assets	7,616		1,585		15,661			—			24,862
Total current assets	81,378		151,199		362,853			—			595,430
Property, plant & equipment, net	6,659		29,709		77,756			—			114,124
Goodwill	62,543		432,751		371,391			—			866,685
Other intangibles, net	13,883		199,463		217,481			—			430,827
Investment in subsidiaries	1,927,053		268,708		91,270			(2,287,031		)	—
Intercompany receivable	—		425,574		295,365			(720,939		)	—
Other long-term assets	11,460		22		5,283			—			16,765
Total assets	$	2,102,976	$	1,507,426	$	1,421,399		$	(3,007,970	)	$	2,023,831
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	16,738	$	37,731	$	99,345		$	—		$	153,814
Accrued compensation and benefits	13,161		5,288		26,848			—			45,297
Current maturities of debt	10,000		—		—			—			10,000
Income taxes payable	3,688		—		(836		)	—			2,852
Other current liabilities	13,910		10,325		34,331			—			58,566
Total current liabilities	57,497		53,344		159,688			—			270,529
Long-term debt	385,000		—		—			—			385,000
Deferred income taxes	88,773		—		40,307			—			129,080
Pension and postretirement benefit liabilities	22,195		—		3,942			—			26,137
Other long-term liabilities	61,590		475		26,752			—			88,817
Intercompany payable	363,653		—		357,286			(720,939		)	—
Shareholders’ equity	1,124,268		1,453,607		833,424			(2,287,031		)	1,124,268
Total liabilities and shareholders’ equity	$	2,102,976	$	1,507,426	$	1,421,399		$	(3,007,970	)	$	2,023,831

CONDENSED CONSOLIDATING BALANCE SHEETS

(In thousands)

	August 31, 2012
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	12,401	$	91	$	55,692	$	—		$	68,184
Accounts receivable, net	20,401		74,006		140,349		—			234,756
Inventories, net	29,658		75,905		106,127		—			211,690
Deferred income taxes	17,942		—		4,641		—			22,583
Other current assets	8,157		1,166		14,745		—			24,068
Total current assets	88,559		151,168		321,554		—			561,281
Property, plant & equipment, net	6,944		31,818		77,122		—			115,884
Goodwill	62,543		433,193		370,676		—			866,412
Other intangibles, net	14,522		206,194		225,168		—			445,884
Investment in subsidiaries	1,886,478		250,738		90,770		(2,227,986		)	—
Intercompany receivable	—		418,253		307,282		(725,535		)	—
Other long-term assets	12,297		22		5,339		—			17,658
Total assets	$	2,071,343	$	1,491,386	$	1,397,911	$	(2,953,521	)	$	2,007,119
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	21,722	$	44,893	$	108,131	$	—		$	174,746
Accrued compensation and benefits	23,459		6,646		28,712		—			58,817
Current maturities of debt	7,500		—		—		—			7,500
Income taxes payable	3,129		—		2,649		—			5,778
Other current liabilities	20,876		11,566		39,723		—			72,165
Total current liabilities	76,686		63,105		179,215		—			319,006
Long-term debt	390,000		—		—		—			390,000
Deferred income taxes	91,604		—		41,049		—			132,653
Pension and postretirement benefit liabilities	22,500		—		3,942		—			26,442
Other long-term liabilities	59,929		620		26,633		—			87,182
Intercompany payable	378,788		—		346,747		(725,535		)	—
Shareholders’ equity	1,051,836		1,427,661		800,325		(2,227,986		)	1,051,836
Total liabilities and shareholders’ equity	$	2,071,343	$	1,491,386	$	1,397,911	$	(2,953,521	)	$	2,007,119

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In thousands)

	Six Months Ended February 28, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Net cash provided by operating activities	$	5,606		$	8,913		$	25,804		$	—	$	40,323
Investing Activities
Proceeds from sale of property, plant and equipment	562			74			541			—		1,177
Capital expenditures	(668		)	(2,014		)	(9,044		)	—		(11,726		)
Business acquisitions, net of cash acquired	(1,350		)	—			(83		)	—		(1,433		)
Cash used in investing activities	(1,456		)	(1,940		)	(8,586		)	—		(11,982		)
Financing Activities
Principal repayments on term loan	(2,500		)	—			—			—		(2,500		)
Intercompany loan activity	(7,370		)	(7,064		)	14,434			—		—
Purchase of treasury shares	(8,821		)	—			—			—		(8,821		)
Stock option exercises, related tax benefits and other	10,772			—			—			—		10,772
Cash dividend	(2,911		)	—			—			—		(2,911		)
Cash provided by (used in) financing activities	(10,830		)	(7,064		)	14,434			—		(3,460		)
Effect of exchange rate changes on cash	—			—			(2,242		)	—		(2,242		)
Net increase (decrease) in cash and cash equivalents	(6,680		)	(91		)	29,410			—		22,639
Cash and cash equivalents—beginning of period	12,401			91			55,692			—		68,184
Cash and cash equivalents—end of period	$	5,721		$	—		$	85,102		$	—	$	90,823

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In thousands)

	Six Months Ended February 29, 2012
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(495	)	$	12,656		$	39,840		$	—	$	52,001
Investing Activities
Proceeds from sale of property, plant and equipment	1,541			113			6,121			—		7,775
Capital expenditures	(3,142		)	(1,699		)	(5,611		)	—		(10,452		)
Business acquisitions, net of cash acquired	(290		)	—			(18,617		)	—		(18,907		)
Cash (used in) provided by investing activities	(1,891		)	(1,586		)	(18,107		)	—		(21,584		)
Financing Activities
Net borrowings on revolving credit facilities	10			—			(177		)	—		(167		)
Intercompany loan activity	24,565			(11,070		)	(13,495		)	—		—
Purchase of treasury shares	(20,410		)	—			—			—		(20,410		)
Stock option exercises and related tax benefits	5,507			—			—			—		5,507
Cash dividend	(2,748		)	—			—			—		(2,748		)
Cash (used in) provided by financing activities	6,924			(11,070		)	(13,672		)	—		(17,818		)
Effect of exchange rate changes on cash	—			—			1,625			—		1,625
Net (decrease) increase in cash and cash equivalents	4,538			—			9,686			—		14,224
Cash and cash equivalents—beginning of period	872			—			43,349			—		44,221
Cash and cash equivalents—end of period	$	5,410		$	—		$	53,035		$	—	$	58,445