Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Aug. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impairment Charge [Table Text Block]

A summary of the second quarter fiscal 2016 impairment charge by reporting unit is as follows (in thousands):

	Cortland		Viking		maximatecc		Total
Goodwill	$	34,502	$	39,099	$	44,521	$	118,122
Indefinite lived intangible assets	2,211		13,289		1,153		16,653
Amortizable intangible assets	—		27,952		—		27,952
Fixed assets	—		23,784		—		23,784
	$	36,713	$	104,124	$	45,674	$	186,511

Changes in Carrying Value of Goodwill

The changes in the carrying amount of goodwill for the years ended August 31, 2016 and 2015 are as follows (in thousands):

	Industrial			Energy			Engineered Solutions			Total
Balance as of August 31, 2014	$	100,266		$	350,627		$	291,877		$	742,770
Purchase accounting adjustments (Hayes)	(3,244		)	—			—			(3,244		)
Impairment charge	—			(78,530		)	—			(78,530		)
Impact of changes in foreign currency rates	(4,915		)	(35,647		)	(12,178		)	(52,740		)
Balance as of August 31, 2015	92,107			236,450			279,699			608,256
Business acquisitions	9,726			36,241			—			45,967
Impairment charge	—			(73,919		)	(44,543		)	(118,462		)
Business divestiture (Sanlo)	—			—			(3,778		)	(3,778		)
Impact of changes in foreign currency rates	(94		)	(11,451		)	(1,162		)	(12,707		)
Balance as of August 31, 2016	$	101,739		$	187,321		$	230,216		$	519,276

Gross Carrying Amount and Accumulated Amortization of Intangible Assets

The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows (in thousands):

	Weighted Average Amortization Period (Year)	August 31, 2016						August 31, 2015
		Gross		Accumulated Amortization		Net Book Value		Gross		Accumulated Amortization		Net Book Value
Amortizable intangible assets:
Customer relationships	14	$	292,671	$	166,252	$	126,419	$	302,518	$	132,007	$	170,511
Patents	10	30,296		22,233		8,063		30,899		19,928		10,971
Trademarks and tradenames	18	21,283		7,936		13,347		21,604		7,055		14,549
Non-compete agreements & other	3	6,627		5,890		737		6,790		6,496		294
Indefinite lived intangible assets:
Tradenames		90,909		—		90,909		112,437		—		112,437
		$	441,786	$	202,311	$	239,475	$	474,248	$	165,486	$	308,762