Guarantor Subsidiaries (Tables)

3 Months Ended

Nov. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule Of Condensed Consolidating Statement Of Earnings And Comprehensive Income [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(in thousands)

	Three Months Ended November 30, 2014
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	40,266		$	77,591		$	209,908		$	—		$	327,765
Cost of products sold	9,967			53,258			137,564			—			200,789
Gross profit	30,299			24,333			72,344			—			126,976
Selling, administrative and engineering expenses	19,072			17,467			45,933			—			82,472
Amortization of intangible assets	318			2,785			3,183			—			6,286
Operating profit	10,909			4,081			23,228			—			38,218
Financing costs, net	6,547			—			(356		)	—			6,191
Intercompany expense (income), net	(5,732		)	1,234			4,498			—			—
Other expense (income), net	465			(96		)	(808		)	—			(439		)
Earnings before income tax expense	9,629			2,943			19,894			—			32,466
Income tax expense	2,310			706			4,776			—			7,792
Net earnings before equity in earnings of subsidiaries	7,319			2,237			15,118			—			24,674
Equity in earnings of subsidiaries	17,355			14,147			194			(31,696		)	—
Net earnings	$	24,674		$	16,384		$	15,312		$	(31,696	)	$	24,674
Comprehensive loss	$	(38,289	)	$	(6,600	)	$	(23,150	)	$	29,750		$	(38,289	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(in thousands)

	Three Months Ended November 30, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	45,091		$	79,636		$	214,829		$	—		$	339,556
Cost of products sold	12,072			55,255			140,449			—			207,776
Gross profit	33,019			24,381			74,380			—			131,780
Selling, administrative and engineering expenses	16,858			15,952			49,108			—			81,918
Amortization of intangible assets	318			2,575			3,322			—			6,215
Operating profit	15,843			5,854			21,950			—			43,647
Financing costs, net	6,779			3			(32		)	—			6,750
Intercompany expense (income), net	(4,997		)	(339		)	5,336			—			—
Other expense (income), net	10,417			(293		)	(8,983		)	—			1,141
Earnings from continuing operations before income tax expense (benefit)	3,644			6,483			25,629			—			35,756
Income tax expense (benefit)	1,008			1,795			(52		)	—			2,751
Net earnings before equity in earnings of subsidiaries	2,636			4,688			25,681			—			33,005
Equity in earnings of subsidiaries	34,222			13,333			3,200			(50,755		)	—
Earnings from continuing operations	36,858			18,021			28,881			(50,755		)	33,005
Earnings (loss) from discontinued operations	(821		)	3,338			515			—			3,032
Net earnings	$	36,037		$	21,359		$	29,396		$	(50,755	)	$	36,037
Comprehensive income	$	53,040		$	38,797		$	27,671		$	(66,468	)	$	53,040

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

(in thousands)

	November 30, 2014
	Parent		Guarantors			Non-Guarantors			Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	2,686	$	1,134		$	83,455		$	—		$	87,275
Accounts receivable, net	18,436		42,765			160,518			—			221,719
Inventories, net	22,347		43,174			98,996			—			164,517
Deferred income taxes	4,960		—			5,424			—			10,384
Other current assets	13,970		1,454			25,029			—			40,453
Total current assets	62,399		88,527			373,422			—			524,348
Property, plant and equipment, net	7,577		26,273			130,065			—			163,915
Goodwill	15,354		306,882			392,720			—			714,956
Other intangibles, net	11,656		137,614			196,944			—			346,214
Investment in subsidiaries	2,179,271		1,106,103			31,067			(3,316,441		)	—
Intercompany receivable	—		637,903			505,132			(1,143,035		)	—
Other long-term assets	23,692		—			14,339			—			38,031
Total assets	$	2,299,949	$	2,303,302		$	1,643,689		$	(4,459,476	)	$	1,787,464
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	16,025	$	25,736		$	93,334		$	—		$	135,095
Accrued compensation and benefits	9,656		2,799			29,953			—			42,408
Current maturities of debt and short-term borrowings	5,625		—			1,994			—			7,619
Income taxes payable	14,463		(548		)	(4,251		)	—			9,664
Other current liabilities	18,267		4,743			35,584			—			58,594
Total current liabilities	64,036		32,730			156,614			—			253,380
Long-term debt, less current maturities	506,250		—			—			—			506,250
Deferred income taxes	46,882		—			45,817			—			92,699
Pension and postretirement benefit liabilities	8,259		—			6,299			—			14,558
Other long-term liabilities	44,794		4,191			9,858			—			58,843
Intercompany payable	767,994		—			375,041			(1,143,035		)	—
Shareholders’ equity	861,734		2,266,381			1,050,060			(3,316,441		)	861,734
Total liabilities and shareholders’ equity	$	2,299,949	$	2,303,302		$	1,643,689		$	(4,459,476	)	$	1,787,464

CONDENSED CONSOLIDATING BALANCE SHEETS

(in thousands)

	August 31, 2014
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	27,931	$	3,325	$	77,756	$	—		$	109,012
Accounts receivable, net	22,811		38,511		165,686		—			227,008
Inventories, net	31,024		38,860		92,736		—			162,620
Deferred income taxes	7,503		—		3,547		—			11,050
Other current assets	3,871		1,057		28,372		—			33,300
Total current assets	93,140		81,753		368,097		—			542,990
Property, plant and equipment, net	9,096		22,879		137,126		—			169,101
Goodwill	44,700		280,693		417,377		—			742,770
Other intangibles, net	11,974		140,400		212,803		—			365,177
Investment in subsidiaries	2,286,068		806,414		237,207		(3,329,689		)	—
Intercompany receivable	—		678,073		622,818		(1,300,891		)	—
Other long-term assets	23,432		—		13,409		—			36,841
Total assets	$	2,468,410	$	2,010,212	$	2,008,837	$	(4,630,580	)	$	1,856,879
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	20,014	$	25,673	$	100,111	$	—		$	145,798
Accrued compensation and benefits	15,135		3,293		34,536		—			52,964
Income taxes payable	31,582		—		6,765		—			38,347
Current maturities of debt	4,500		—		—		—			4,500
Other current liabilities	19,081		3,989		34,442		—			57,512
Total current liabilities	90,312		32,955		175,854		—			299,121
Long-term debt	385,500		—		—		—			385,500
Deferred income taxes	47,543		—		49,427		—			96,970
Pension and postretirement benefit liabilities	8,668		—		7,031		—			15,699
Other long-term liabilities	42,647		4,138		11,093		—			57,878
Intercompany payable	892,029		—		408,861		(1,300,890		)	—
Shareholders’ equity	1,001,711		1,973,119		1,356,571		(3,329,690		)	1,001,711
Total liabilities and shareholders’ equity	$	2,468,410	$	2,010,212	$	2,008,837	$	(4,630,580	)	$	1,856,879

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended, November 30, 2014
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Cash provided by (used in) operating activities	$	5,024		$	(28,333	)	$	(1,809	)	$	—	$	(25,118	)
Investing Activities
Capital expenditures	(226		)	(1,140		)	(6,620		)	—		(7,986		)
Proceeds from sale of property, plant and equipment	—			1			224			—		225
Cash used in investing activities	(226		)	(1,139		)	(6,396		)	—		(7,761		)
Financing Activities
Net borrowings on revolver	121,875			—			1,994			—		123,869
Intercompany loan activity	(47,192		)	27,281			19,911			—		—
Purchase of treasury shares	(104,415		)	—			—			—		(104,415		)
Stock option exercises, related tax benefits and other	2,287			—			—			—		2,287
Cash dividend	(2,598		)	—			—			—		(2,598		)
Cash provided by (used in) financing activities	(30,043		)	27,281			21,905			—		19,143
Effect of exchange rate changes on cash	—			—			(8,001		)	—		(8,001		)
Net (decrease) increase in cash and cash equivalents	(25,245		)	(2,191		)	5,699			—		(21,737		)
Cash and cash equivalents—beginning of period	27,931			3,325			77,756			—		109,012
Cash and cash equivalents—end of period	$	2,686		$	1,134		$	83,455		$	—	$	87,275

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended, November 30, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Cash provided by operating activities	$	17,415		$	3,461		$	12,070		$	—	$	32,946
Investing Activities
Proceeds from sale of property, plant and equipment	—			36			1,877			—		1,913
Capital expenditures	(1,208		)	(1,270		)	(8,779		)	—		(11,257		)
Cash used in investing activities	(1,208		)	(1,234		)	(6,902		)	—		(9,344		)
Financing Activities
Principal repayments of term loans	(12,000		)	—			—			—		(12,000		)
Intercompany loan activity	(9,951		)	(2,227		)	12,178			—		—
Purchase of treasury shares	(15,352		)	—			—			—		(15,352		)
Payment of contingent acquisition consideration	—			—			(414		)	—		(414		)
Stock option exercises, related tax benefits and other	10,562			—			—			—		10,562
Cash dividend	(2,919		)	—			—			—		(2,919		)
Cash provided by (used in) financing activities	(29,660		)	(2,227		)	11,764			—		(20,123		)
Effect of exchange rate changes on cash	—			—			2,077			—		2,077
Net increase (decrease) in cash and cash equivalents	(13,453		)	—			19,009			—		5,556
Cash and cash equivalents—beginning of period	16,122			—			87,864			—		103,986
Cash and cash equivalents—end of period	$	2,669		$	—		$	106,873		$	—	$	109,542