Restructuring and Related Activities

6 Months Ended

Feb. 28, 2025

Restructuring and Related Activities [Abstract]

ASCEND Transformation Program

Note 3. ASCEND Transformation Program

In March 2022, the Company announced the start of its ASCEND transformation program. ASCEND's key initiatives included accelerating organic growth strategies, improving operational excellence and production efficiency by utilizing a Lean approach, and driving greater efficiency and productivity in selling, general and administrative ("SG&A") expense by better leveraging resources to create a more efficient and agile organization.

Total program expenses were approximately $2.0 million and $5.6 million in the three and six months ended February 29, 2024, respectively, with no expenses in the three and six months ended February 28, 2025, as the ASCEND program ended at August 31, 2024. Of the total ASCEND program expenses, $1.4 million and $2.5 million were recorded within SG&A expenses and approximately $0.2 million and $0.4 million were recorded within cost of goods sold for the three and six months ended February 29, 2024, respectively. Additionally, $0.4 million and $2.8 million of ASCEND expenses were recorded within restructuring expenses, (see Note 4, “Restructuring Charges”) for the for the three and six months ended February 29, 2024, respectively. The restructuring charges incurred were predominately severance and other employee-related costs. The ASCEND program was completed as of August 31, 2024, with total program costs of $74.7 million of which $18.6 million was restructuring charges.