Revenue Recognition (Tables)

9 Months Ended

May 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 the three and nine months ended May 31, 2019 is as follows:

	Three months ended						Nine months ended
	May 31, 2019						May 31, 2019
($ in thousands)	Irrigation		Infrastructure		Total		Irrigation		Infrastructure		Total
Point in time	$	89,442	$	19,429	$	108,871	$	256,466	$	51,593	$	308,059
Over time		9,176		1,589		10,765		25,528		4,372		29,900
Revenue from the contracts with customers		98,618		21,018		119,636		281,994		55,965		337,959
Lease revenue		—		1,418		1,418		—		4,228		4,228
Total operating revenues	$	98,618	$	22,436	$	121,054	$	281,994	$	60,193	$	342,187

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 condensed consolidated balance sheet and condensed consolidated statement of earnings for the three and nine months ended May 31, 2019:

($ in thousands)	As Reported		ASC Topic 606 Adjustments			Balance without adoption of ASC Topic 606
Assets
Inventories, net	$	91,091	$	3,652		$	94,743
Other current assets		17,903		(1,114	)		16,789
Liabilities and Stockholders' Equity
Other current liabilities	$	49,102	$	5,039		$	54,141
Retained earnings		476,580		(2,500	)		474,080

	Three months ended							Nine months ended
	May 31, 2019							May 31, 2019
($ in thousands)	As Reported		ASC Topic 606 Adjustments			Balance without adoption of ASC Topic 606		As Reported		ASC Topic 606 Adjustments			Balance without adoption of ASC Topic 606
Statement of Earnings
Operating revenues	$	121,054	$	43		$	121,097	$	342,187	$	(6,303	)	$	335,884
Operating income		4,475		(38	)		4,437		2,055		(3,429	)		(1,374	)