Revenue Recognition (Tables)

12 Months Ended

Aug. 31, 2019

Disaggregation Of Revenue [Line Items]

Schedule of Disaggregation of Revenue by Segment

A breakout by segment of revenue recognized over time versus point in time for twelve months ended August 31, 2019 is as follows:

	Year ended August 31, 2019
($ in thousands)	Irrigation		Infrastructure		Total
Point in time	$	318,544	$	78,768	$	397,312
Over time		32,954		6,054		39,008
Revenue from the contracts with customers		351,498		84,822		436,320
Lease revenue		—		7,752		7,752
Total operating revenues	$	351,498	$	92,574	$	444,072

ASC Topic 606 [Member]

Disaggregation Of Revenue [Line Items]

Summary of Impacts of ASU on Condensed Consolidated Financial Statements

The cumulative effect of initially applying the new revenue standard under ASC Topic 606 was recorded as an adjustment to the opening balance of retained earnings, which impacted the condensed consolidated balance sheet as follows:

($ in thousands)	August 31, 2018		ASC Topic 606 Adjustments			September 1, 2018
Assets
Inventories, net	$	79,233	$	(942	)	$	78,291
Other current assets		11,087		1,651			12,738
Liabilities and Stockholders' Equity
Other current liabilities	$	46,935	$	14		$	46,949
Deferred income tax liabilities		1,083		163			1,246
Retained earnings		484,886		532			485,418

The adoption of ASC Topic 606 had the following impact on the consolidated balance sheet as of August 31, 2019 and consolidated statement of earnings for the year ended August 31, 2019:

($ in thousands)	As Reported		Adjustments			Balance without adoption of ASC Topic 606
Assets
Inventories, net	$	92,287	$	3,729		$	96,016
Other current assets		15,704		(1,170	)		14,534
Liabilities and Stockholders' Equity
Other current liabilities	$	52,488	$	5,711		$	58,199
Retained earnings		474,740		(3,153	)		471,587

($ in thousands)	As Reported		Adjustments			Balance without adoption of ASC Topic 606
Statement of Earnings
Operating revenues	$	444,072	$	(6,359	)	$	437,713
Operating income		6,115		(3,410	)		2,705