Guarantor Subsidiaries (Tables)

3 Months Ended

Nov. 30, 2017

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 EARNINGS AND COMPREHENSIVE INCOME

(in thousands)

	Three Months Ended November 30, 2017
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	35,710		$	87,834		$	165,411		$	—		$	288,955
Cost of products sold	6,963			64,574			116,507			—			188,044
Gross profit	28,747			23,260			48,904			—			100,911
Selling, administrative and engineering expenses	19,715			18,448			36,315			—			74,478
Amortization of intangible assets	318			2,861			1,952			—			5,131
Restructuring charges	5,356			169			1,104			—			6,629
Operating profit	3,358			1,782			9,533			—			14,673
Financing costs, net	7,623			21			(130		)	—			7,514
Intercompany (income) expense, net	(4,877		)	5,484			(607		)	—			—
Other (income) expense, net	(50		)	45			334			—			329
Earnings (loss) before income tax (benefit) expense	662			(3,768		)	9,936			—			6,830
Income tax (benefit) expense	(285		)	437			1,452			—			1,604
Net earnings (loss) before equity in earnings (loss) of subsidiaries	947			(4,205		)	8,484			—			5,226
Equity in earnings (loss) of subsidiaries	4,279			8,793			(46		)	(13,026		)	—
Net earnings	5,226			4,588			8,438			(13,026		)	5,226
Comprehensive income	$	8,251		$	4,588		$	11,566		$	(16,154	)	$	8,251

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (LOSS)

(in thousands)

	Three Months Ended November 30, 2016
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	31,729		$	84,276		$	149,788		$	—		$	265,793
Cost of products sold	7,094			61,416			104,216			—			172,726
Gross profit	24,635			22,860			45,572			—			93,067
Selling, administrative and engineering expenses	17,967			16,636			33,999			—			68,602
Amortization of intangible assets	318			3,076			1,868			—			5,262
Restructuring charges	355			723			1,870			—			2,948
Director & officer transition charges	7,784			—			—			—			7,784
Operating (loss) profit	(1,789		)	2,425			7,835			—			8,471
Financing costs (income), net	7,326			—			(194		)	—			7,132
Intercompany (income) expense, net	(5,068		)	(1,086		)	6,154			—			—
Intercompany dividends	—			(55,143		)	—			55,143			—
Other expense (income), net	2,085			(70		)	(2,643		)	—			(628		)
(Loss) earnings before income tax benefit	(6,132		)	58,724			4,518			(55,143		)	1,967
Income tax benefit	(2,714		)	(30		)	(254		)	—			(2,998		)
Net (loss) earnings before equity in earnings of subsidiaries	(3,418		)	58,754			4,772			(55,143		)	4,965
Equity in earnings of subsidiaries	8,383			5,625			3,130			(17,138		)	—
Net earnings	4,965			64,379			7,902			(72,281		)	4,965
Comprehensive (loss) income	$	(21,157	)	$	46,292		$	631		$	(46,923	)	$	(21,157	)

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

(in thousands)

	November 30, 2017
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	9,504	$	—	$	155,546	$	—		$	165,050
Accounts receivable, net	16,577		52,010		132,730		—			201,317
Inventories, net	24,490		54,521		75,235		—			154,246
Assets held for sale	—		—		21,393		—			21,393
Other current assets	29,359		2,997		43,974		—			76,330
Total current assets	79,930		109,528		428,878		—			618,336
Property, plant and equipment, net	8,051		30,461		60,476		—			98,988
Goodwill	38,847		200,499		292,108		—			531,454
Other intangibles, net	7,839		135,181		73,012		—			216,032
Investment in subsidiaries	1,839,467		1,196,261		804,946		(3,840,674		)	—
Intercompany receivable	—		577,424		206,969		(784,393		)	—
Other long-term assets	8,147		1,869		15,415		—			25,431
Total assets	$	1,982,281	$	2,251,223	$	1,881,804	$	(4,625,067	)	$	1,490,241
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	15,804	$	28,772	$	97,169	$	—		$	141,745
Accrued compensation and benefits	7,634		6,325		23,811		—			37,770
Current maturities of debt and short-term borrowings	30,000		—		—		—			30,000
Income taxes payable	307		—		6,335		—			6,642
Liabilities held for sale	—		—		70,787		—			70,787
Other current liabilities	20,521		8,140		28,314		—			56,975
Total current liabilities	74,266		43,237		226,416		—			343,919
Long-term debt, net	524,629		—		—		—			524,629
Deferred income taxes	23,789		—		5,778		—			29,567
Pension and postretirement benefit liabilities	12,209		—		7,330		—			19,539
Other long-term liabilities	49,646		305		6,318		—			56,269
Intercompany payable	781,424		—		2,969		(784,393		)	—
Shareholders’ equity	516,318		2,207,681		1,632,993		(3,840,674		)	516,318
Total liabilities and shareholders’ equity	$	1,982,281	$	2,251,223	$	1,881,804	$	(4,625,067	)	$	1,490,241

CONDENSED CONSOLIDATING BALANCE SHEETS

(in thousands)

	August 31, 2017
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	34,715	$	—	$	194,856	$	—		$	229,571
Accounts receivable, net	17,498		50,749		121,959		—			190,206
Inventories, net	23,308		48,492		71,851		—			143,651
Assets held for sale	—		—		21,835		—			21,835
Other current assets	23,576		3,619		34,468		—			61,663
Total current assets	99,097		102,860		444,969		—			646,926
Property, plant & equipment, net	7,049		26,130		61,342		—			94,521
Goodwill	38,847		200,499		290,735		—			530,081
Other intangibles, net	8,156		138,042		74,291		—			220,489
Investment in subsidiaries	1,832,472		1,186,715		805,016		(3,824,203		)	—
Intercompany receivable	—		589,193		205,183		(794,376		)	—
Other long-term assets	8,377		812		15,749		—			24,938
Total assets	$	1,993,998	$	2,244,251	$	1,897,285	$	(4,618,579	)	$	1,516,955
LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	15,412	$	27,168	$	90,807	$	—		$	133,387
Accrued compensation and benefits	19,082		7,672		24,185		—			50,939
Current maturities of debt and short-term borrowings	30,000		—		—		—			30,000
Income taxes payable	153		—		5,927		—			6,080
Liabilities held for sale	—		—		101,083		—			101,083
Other current liabilities	18,512		7,169		31,764		—			57,445
Total current liabilities	83,159		42,009		253,766		—			378,934
Long-term debt	531,940		—		—		—			531,940
Deferred income taxes	24,164		—		5,695		—			29,859
Pension and post-retirement benefit liabilities	12,540		—		7,322		—			19,862
Other long-term liabilities	48,692		352		6,777		—			55,821
Intercompany payable	792,964		—		1,412		(794,376		)	—
Shareholders’ equity	500,539		2,201,890		1,622,313		(3,824,203		)	500,539
Total liabilities and shareholders’ equity	$	1,993,998	$	2,244,251	$	1,897,285	$	(4,618,579	)	$	1,516,955

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended November 30, 2017
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Net cash (used in) provided by operating activities	$	(9,838	)	$	3,580		$	(14,200	)	$	—	$	(20,458	)
Investing Activities
Capital expenditures	(1,478		)	(3,589		)	(2,837		)	—		(7,904		)
Proceeds from sale of property, plant and equipment	—			9			23			—		32
Rental asset lease buyout for Viking divestiture	—			—			(27,718		)	—		(27,718		)
Cash used in investing activities	(1,478		)	(3,580		)	(30,532		)	—		(35,590		)
Financing Activities
Repayments on term loan	(7,500		)	—			—			—		(7,500		)
Stock option exercises and other	2,231			—			—			—		2,231
Taxes paid related to the net share settlement of equity awards	(282		)	—			—			—		(282		)
Cash dividend	(2,390		)	—			—			—		(2,390		)
Intercompany loan activity	(5,954		)	—			5,954			—		—
Cash (used in) provided by financing activities	(13,895		)	—			5,954			—		(7,941		)
Effect of exchange rate changes on cash	—			—			(532		)	—		(532		)
Net decrease in cash and cash equivalents	(25,211		)	—			(39,310		)	—		(64,521		)
Cash and cash equivalents—beginning of period	34,715			—			194,856			—		229,571
Cash and cash equivalents—end of period	$	9,504		$	—		$	155,546		$	—	$	165,050

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended November 30, 2016
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities
Net provided by operating activities	$	61,380		$	2,491		$	3,736		$	(55,143	)	$	12,463
Investing Activities
Capital expenditures	(861		)	(2,607		)	(1,671		)	—			(5,139		)
Proceeds from sale of property, plant and equipment	—			46			84			—			130
Cash used in investing activities	(861		)	(2,561		)	(1,587		)	—			(5,009		)
Financing Activities
Principal repayments on term loan	(3,750		)	—			—			—			(3,750		)
Taxes paid related to the net share settlement of equity awards	(223		)	—			—			—			(223		)
Stock option exercises and other	964			—			—			—			964
Cash dividend	(2,358		)	—			(55,143		)	55,143			(2,358		)
Intercompany loan activity	(53,734		)	—			53,734			—			—
Cash used in financing activities	(59,101		)	—			(1,409		)	55,143			(5,367		)
Effect of exchange rate changes on cash	—			—			(4,820		)	—			(4,820		)
Net increase (decrease) in cash and cash equivalents	1,418			(71		)	(4,080		)	—			(2,733		)
Cash and cash equivalents—beginning of period	7,953			71			171,580			—			179,604
Cash and cash equivalents—end of period	$	9,371		$	—		$	167,500		$	—		$	176,871