Income Taxes (Tables)

12 Months Ended

Aug. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Earnings Before Income Taxes

	For the years ended August 31,
($ in thousands)	2020		2019			2018
United States	$	38,928	$	(1,949	)	$	25,116
Foreign		9,915		4,056			8,737
	$	48,843	$	2,107		$	33,853

Schedule of Significant Components of Income Tax Provision

	For the years ended August 31,
($ in thousands)	2020			2019			2018
Current:
Federal	$	4,231		$	2,190		$	9,313
State		1,421			324			1,047
Foreign		3,178			3,107			3,266
Total current		8,830			5,621			13,626
Deferred:
Federal		2,630			(3,209	)		517
State		121			(624	)		(47	)
Foreign		(1,367	)		(1,853	)		(520	)
Total deferred		1,384			(5,686	)		(50	)
Total income tax provision	$	10,214		$	(65	)	$	13,576

Schedule of Effective Income Tax Rate Reconciliation

	For the years ended August 31,
	2020						2019						2018
($ in thousands)	Amount			%			Amount			%			Amount			%
U.S. statutory rate	$	10,257			21.0		$	443			21.0		$	8,700			25.7
State and local taxes, net of federal tax benefit		1,079			2.2			(379	)		(18.0	)		743			2.2
Foreign tax rate differences		(292	)		(0.6	)		164			7.8			809			2.4
U.S. tax reform		(165	)		(0.3	)		160			7.6			2,496			7.4
Deferred tax asset valuation allowance		(479	)		(1.0	)		142			6.7			758			2.2
Domestic production activities deduction		—			—			—			—			(727	)		(2.1	)
Federal credits		(419	)		(0.9	)		(338	)		(16.0	)		(375	)		(1.1	)
Uncertain tax benefits		165			0.3			(153	)		(7.3	)		198			0.6
Other		68			0.1			(104	)		(4.9	)		974			2.9
Effective rate	$	10,214			20.9		$	(65	)		(3.1	)	$	13,576			40.1

Schedule of Deferred Tax Assets and Liabilities

	August 31,
($ in thousands)	2020			2019
Deferred tax assets:
Accrued expenses	$	10,376		$	7,791
Warranty		2,439			2,118
Defined benefit pension plan		1,767			1,705
Inventory		2,362			1,445
Share-based compensation		1,185			1,146
Vacation		780			741
Net operating loss and capital loss carry forwards		3,009			3,648
Deferred revenue		2,282			2,716
Allowance for doubtful accounts		683			687
Other		2,233			2,074
Gross deferred tax assets		27,116			24,071
Valuation allowance		(3,218	)		(3,759	)
Net deferred tax assets	$	23,898		$	20,312
Deferred tax liabilities:
Intangible assets	$	(6,054	)	$	(6,163	)
Property, plant, and equipment		(8,798	)		(3,263	)
Total deferred tax liabilities	$	(14,852	)	$	(9,426	)
Net deferred tax assets	$	9,046		$	10,886

Schedule of Unrecognized Tax Benefits Roll Forward

	August 31,
($ in thousands)	2020			2019
Unrecognized tax benefits at September 1	$	2,389		$	1,399
Increases for positions taken in current year		52			1,457
Increases for positions taken in prior years		266			78
Decreases for positions taken in prior years		(1,360	)		(216	)
Reduction resulting from lapse of applicable    statute of limitations		(206	)		(329	)
Decreases for settlements with tax authorities		—			—
Unrecognized tax benefits at August 31	$	1,141		$	2,389