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Restructuring Charges Restructuring Charges(Notes)
 12 Months Ended
Aug. 31, 2026
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]
Note 4.    Restructuring Charges
The Company has undertaken or committed to various restructuring initiatives, including workforce reductions, leadership changes, plant consolidations to reduce manufacturing overhead, satellite office closures, the continued movement of production and product sourcing to low-cost alternatives and the centralization and standardization of certain administrative functions. Liabilities for severance are generally to be paid within twelve months, while future lease payments related to facilities vacated as a result of restructuring are to be paid over the underlying remaining lease terms.
On June 27, 2022, the Company approved a restructuring plan in connection with the initiatives identified as part of the ASCEND transformation program (see Note 3, “ASCEND Transformation Program”) to drive greater efficiency and productivity in global selling, general and administrative resources. The costs of this plan were predominately severance and other employee-related costs incurred as cash expenditures and impacting both IT&S and Corporate.
For the year ended August 31, 2024, the Company recorded $7.8 million, of restructuring charges associated with the ASCEND transformation program, inclusive of the Other Segment. No restructuring charges associated with the ASCEND transformation program were recorded for the year ended August 31, 2026 or 2025 as the ASCEND program ended at August 31, 2024, with a total restructuring charge of $18.6 million.
The following summarizes ASCEND restructuring reserve activity for the IT&S segment and Corporate:
(in millions)IT&SCorporate
Balance as of August 31, 2023$2.2 $0.1 
Restructuring charges7.2 0.6 
Cash payments(5.4)(0.4)
Other(1)
(0.5)— 
Balance as of August 31, 20243.5 0.2 
Cash payments(3.5)(0.2)
Balance as of August 31, 2025$— $— 
(1) Represents other non-cash items and impacts of changes in foreign currency rates.
During the third quarter of fiscal 2025, in light of the soft market conditions and as another step towards increasing efficiency of its selling, general and administrative spend, the Company incurred restructuring costs of $5.9 million, of which approximately three quarters was related to personnel actions and the remainder were charges associated with the Company's former headquarters location (the “FY25 Restructuring Plan”).
The following summarizes FY25 Restructuring Plan restructuring reserve activity for the IT&S segment and Corporate:
(in millions)IT&SCorporate
Balance as of August 31, 2024$— $— 
Restructuring charges2.5 3.4 
Cash payments(0.8)— 
Other(1)
— (2.0)
Balance as of August 31, 20251.7 1.4 
Restructuring charges— — 
Cash payments(1.5)(1.4)
Other(1)
— 0.3 
Balance as of August 31, 2026$0.2 $0.3 
(1) Represents other non-cash items and impacts of changes in foreign currency rates.
In the second quarter of fiscal 2026, the Company announced a new restructuring plan rightsizing our Hydratight service operation in the IT&S segment and reducing headcount in the segment to align with current market conditions, primarily in the EMEA Region (the “FY26 Restructuring Plan”). The restructuring is also designed to support our strategic transition of the IT&S segment toward a higher margin service business and growth objectives. In connection with the announcement of this plan, the Company recorded $3.3 million of restructuring costs in the year ended August 31, 2026.
The following summarized reserve activity related to the FY26 Restructuring Plan for the IT&S segment:
(in millions)IT&S
Balance as of August 31, 2025$— 
Restructuring charges3.3 
Cash payments(1.2)
Other(1)
(0.9)
Balance as of August 31, 2026$1.2 
(1) Represents other non-cash items and impacts of changes in foreign currency rates.
Restructuring and Related Costs
(in millions)IT&SCorporate
Balance as of August 31, 2023$2.2 $0.1 
Restructuring charges7.2 0.6 
Cash payments(5.4)(0.4)
Other(1)
(0.5)— 
Balance as of August 31, 20243.5 0.2 
Cash payments(3.5)(0.2)
Balance as of August 31, 2025$— $— 
(1) Represents other non-cash items and impacts of changes in foreign currency rates.