Enerpac Tool (EPAC) 10-Q28 Jun 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
Document and Entity Information - $ / shares	May 31, 2022	Jun. 21, 2022	Aug. 31, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2022
Document Transition Report	false
Entity File Number	1-11288
Entity Registrant Name	ENERPAC TOOL GROUP CORP.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0168610
Entity Address, Address Line One	N86 W12500 WESTBROOK CROSSING
Entity Address, City or Town	MENOMONEE FALLS
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53051
City Area Code	262
Local Phone Number	293-1500
Title of 12(b) Security	Class A common stock, $0.20 par value per share
Trading Symbol	EPAC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,141,965
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000006955
Current Fiscal Year End Date	--08-31
Common Class A
Document Information [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.20		$ 0.20
Common Stock, Shares Authorized	168,000,000		168,000,000
Common Stock, Shares, Issued	83,349,611		83,021,654

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Statement [Abstract]
Net Sales	$ 151,894	$ 143,149	$ 419,395	$ 383,233
Cost of products sold	79,847	76,302	227,741	206,346
Gross profit	72,047	66,847	191,654	176,887
Selling, General and Administrative Expense	63,095	40,468	162,240	130,061
Amortization of intangible assets	1,792	2,061	5,678	6,333
Restructuring Charges	517	1,571	5,086	2,430
Impairment & divestiture (benefits) charges	0	0	1,116	539
Operating profit	6,643	22,747	17,534	37,524
Financing costs, net	951	1,340	2,668	4,395
Other expense, net	254	540	1,004	1,598
Income tax (benefit) expense	1,377	(4,390)	4,495	(2,132)
Net Earnings from Continuing Operations	4,061	25,257	9,367	33,663
Net (Loss) Earnings from Discontinued Operations	(2,418)	(226)	(3,715)	(852)
Net (loss) earnings	$ 1,643	$ 25,031	$ 5,652	$ 32,811
Earnings (loss) per share
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ 0.07	$ 0.42	$ 0.16	$ 0.56
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	0.07	0.42	0.15	0.56
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	(0.04)	0	(0.06)	(0.01)
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	(0.04)	0	(0.06)	(0.01)
(Loss) Earnings Per Share, Basic	0.03	0.42	0.09	0.55
(Loss) Earnings Per Share, Diluted	$ 0.03	$ 0.41	$ 0.09	$ 0.54
Weighted average common shares outstanding
Weighted average common shares outstanding - basic	60,227	60,144	60,292	59,964
Weighted Average Common Shares outstanding - diluted	60,610	60,574	60,640	60,312
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 5,438	$ 20,867	$ 13,862	$ 31,531

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Net (loss) earnings	$ 1,643	$ 25,031	$ 5,652	$ 32,811
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments	(16,397)	6,373	(25,258)	16,807
Pension and other postretirement benefit plans	367	165	928	517
Other Comprehensive (Loss) Income, Net of Tax	(16,030)	6,538	(24,330)	17,324
Comprehensive (loss) income	$ (14,387)	$ 31,569	$ (18,678)	$ 50,135

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Current assets
Cash and cash equivalents	$ 123,705	$ 140,352
Accounts receivable, net	117,029	103,233
Inventories, net	86,897	75,347
Other current assets	38,657	38,503
Total current assets	366,288	357,435
Property, plant and equipment, net	44,400	48,590
Goodwill	267,199	277,593
Other intangible assets, net	45,163	54,545
Other long-term assets	74,249	82,084
Total assets	797,299	820,247
Current liabilities
Trade accounts payable	65,741	61,958
Accrued compensation and benefits	21,227	21,597
Income taxes payable	3,892	5,674
Other current liabilities	43,666	45,535
Total current liabilities	134,526	134,764
Long-term debt, net	205,000	175,000
Deferred Income Taxes	6,586	4,397
Pension and postretirement benefit liabilities	16,179	17,783
Other long-term liabilities	68,736	76,105
Total liabilities	431,027	408,049
Shareholders’ equity
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 83,349,611 and 83,021,654 shares, respectively	16,670	16,604
Additional paid-in capital	211,952	202,971
Treasury stock, at cost, 24,554,305 and 22,799,230 shares, respectively	(704,027)	(667,732)
Retained earnings	958,991	953,339
Accumulated other comprehensive loss	(117,314)	(92,984)
Stock held in trust	(3,148)	(3,067)
Deferred compensation liability	3,148	3,067
Total shareholders' equity	366,272	412,198
Total liabilities and shareholders’ equity	$ 797,299	$ 820,247

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	May 31, 2022	Aug. 31, 2021
Treasury Stock, Shares	24,554,305	22,799,230
Common Class A
Common Stock, Shares Authorized	168,000,000	168,000,000
Common Stock, Shares, Issued	83,349,611	83,021,654

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Operating Activities
Net (loss) earnings	$ 5,652	$ 32,811
Net (Loss) Earnings from Discontinued Operations	(3,715)	(852)
Net Earnings from Continuing Operations	9,367	33,663
Adjustments to reconcile net earnings to net cash provided by operating activities:
Impairment & divestiture (benefits) charges, net of tax	1,116	482
Depreciation and amortization	14,983	16,438
Stock-based compensation expense	12,117	7,385
Provision for deferred income taxes	1,568	7,475
Amortization of debt issuance costs	360	360
Increase (Decrease) in Receivable Reserve	13,856	0
Other non-cash (benefits)	(466)	(9,135)
Changes in components of working capital and other:
Accounts receivable	(31,153)	(26,692)
Inventories	(15,913)	(3,667)
Trade accounts payable	1,611	14,095
Prepaid expenses and other assets	5,760	(13,795)
Income tax accounts	(3,208)	(8,639)
Accrued compensation and benefits	396	3,875
Other accrued liabilities	(2,879)	3,524
Cash provided by (used in) operating activities, Continuing Operations	7,515	25,369
Cash (used in) provided by operating activities, Discontinued Operations	(319)	(480)
Cash (Used in) Provided By Operating Activities	7,196	24,889
Investing Activities
Capital expenditures	(6,970)	(9,504)
Proceeds from sale of property, plant and equipment	1,158	22,401
Proceeds from Life Insurance Policy	0	2,911
Cash used in investing activities, Continuing Operations	(5,812)	15,808
Cash Provided by Investing Activities	(5,812)	15,808
Financing Activities
Borrowings on Revolving Credit	45,000	10,000
Principal Repayment on Revolving Credit Facility	(15,000)	(70,000)
Payments for Repurchase of Common Stock	(36,295)	0
Taxes paid related to the net share settlement of equity awards	(3,378)	(2,337)
Stock option exercises and other	217	2,305
Cash dividend	(2,409)	(2,394)
Net Cash Used in Financing Activities, Continuing Operations	(11,865)	(62,426)
Cash Used in Financing Activities, Discontinued Operations	0	750
Cash used in financing activities	(11,865)	(61,676)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(6,166)	5,088
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(16,647)	(15,891)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	$ 123,705	$ 136,279

Basis of Presentation Schedule

Basis of Presentation Schedule of Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	May 31, 2022
Schedule of Accumulated Other Comprehensive Income (Loss) [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2022 August 31, 2021 Foreign currency translation adjustments $ 95,244 $ 69,986 Pension and other postretirement benefit plans, net of tax 22,070 22,998 Accumulated other comprehensive loss $ 117,314 $ 92,984

Earnings per Share and Sharehol

Earnings per Share and Shareholders' Equity Shareholders Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Stock held in trust [member] [Member]	Deferred Compensation, Share-based Payments [Member]
Stock Issued During Period, Shares, New Issues		82,594
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 359,226	$ 16,519	$ 193,492	$ (667,732)	$ 917,671	$ (100,724)	$ (2,562)	$ 2,562
Net (loss) earnings	4,598				4,598
Other Comprehensive (Loss) Income, Net of Tax	1,629					1,629
Stock Issued During Period, Shares, Employee Benefit Plan		6
Stock Issued During Period, Value, Employee Benefit Plan	101	$ 1	100
Stock Issued During Period, Shares, Restricted Stock Award, Gross		20
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	$ 4	(4)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,581		2,581
Stock Issued To Acquired For And Distributed From Rabbi Trust		5
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	86	$ 1	85				(81)	81
Net (loss) earnings	32,811
Other Comprehensive (Loss) Income, Net of Tax	17,324
Stock Issued During Period, Shares, New Issues		82,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	367,946	$ 16,525	195,979	(667,732)	922,269	(99,095)	(2,643)	2,643
Net (loss) earnings	3,182				3,182
Other Comprehensive (Loss) Income, Net of Tax	9,157					9,157
Stock Issued During Period, Shares, Employee Benefit Plan		4
Stock Issued During Period, Value, Employee Benefit Plan	81	$ 1	80
Stock Issued During Period, Shares, Restricted Stock Award, Gross		235
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	$ 47	(47)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,647		2,647
Stock Issued To Acquired For And Distributed From Rabbi Trust		15
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	86	$ 3	83				(353)	353
Stock Issued During Period, Shares, New Issues		82,879
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	381,393	$ 16,576	197,036	(667,732)	925,451	(89,938)	(2,996)	2,996
Net (loss) earnings	25,031				25,031
Other Comprehensive (Loss) Income, Net of Tax	6,538					6,538
Stock Issued During Period, Shares, Employee Benefit Plan		5
Stock Issued During Period, Value, Employee Benefit Plan	97	$ 1	96
Stock Issued During Period, Shares, Restricted Stock Award, Gross		17
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	$ 3	(3)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,157		2,157
Stock Issued To Acquired For And Distributed From Rabbi Trust		1
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	25		25				(3)	3
Stock Issued During Period, Shares, New Issues		82,991
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	416,911	$ 16,598	200,963	(667,732)	950,482	(83,400)	(2,999)	2,999
Stock Issued During Period, Shares, New Issues		83,022
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	412,198	$ 16,604	202,971	(667,732)	953,339	(92,984)	(3,067)	3,067
Adoption of Accounting Standards	953,339
Net (loss) earnings	2,788				2,788
Other Comprehensive (Loss) Income, Net of Tax	(10,044)					(10,044)
Stock Issued During Period, Shares, Employee Benefit Plan		2
Stock Issued During Period, Value, Employee Benefit Plan	85	$ 1	84
Stock Issued During Period, Shares, Restricted Stock Award, Gross		67
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	$ 17	(17)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	6,147		6,147
Stock Issued To Acquired For And Distributed From Rabbi Trust		1
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	25	$ 0	25				(25)	25
Net (loss) earnings	5,652
Other Comprehensive (Loss) Income, Net of Tax	(24,330)
Stock Issued During Period, Shares, New Issues		83,092
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	409,806	$ 16,622	207,817	(667,732)	956,127	(103,028)	(3,092)	3,092
Net (loss) earnings	1,221				1,221
Other Comprehensive (Loss) Income, Net of Tax	1,744					1,744
Stock Issued During Period, Shares, Employee Benefit Plan		5
Stock Issued During Period, Value, Employee Benefit Plan	65	$ 1	64
Stock Issued During Period, Shares, Restricted Stock Award, Gross		247
Stock Issued During Period, Value, Restricted Stock Award, Gross	0	$ 46	(46)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,142		2,142
Stock Issued To Acquired For And Distributed From Rabbi Trust		1
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	25		25				3	(3)
Stock Issued During Period, Shares, New Issues		83,345
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	413,023	$ 16,669	208,022	(667,732)	957,348	(101,284)	(3,089)	3,089
Net (loss) earnings	1,643				1,643
Other Comprehensive (Loss) Income, Net of Tax	(16,030)					(16,030)
Stock Issued During Period, Shares, Employee Benefit Plan		4
Stock Issued During Period, Value, Employee Benefit Plan	66	$ 1	65
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,828		3,828
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	40		40				(59)	59
Stock Issued During Period, Shares, New Issues		83,350
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	366,272	$ 16,670	$ 211,952	$ (704,027)	$ 958,991	$ (117,314)	$ (3,148)	$ 3,148
Adoption of Accounting Standards	$ 958,991

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	May 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation General Enerpac Tool Group Corp. ("Company") is a premier industrial tools and services company serving a broad and diverse set of customers in more than 100 countries. The Company has one reportable segment, Industrial Tools & Service ("IT&S"), and an Other operating segment, which does not meet the criteria to be considered a reportable segment. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The condensed consolidated balance sheet data as of August 31, 2021 was derived from the Company’s audited financial statements but does not include all disclosures required by GAAP. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes in the Company’s fiscal 2021 Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of financial results have been made. Such adjustments consist of only those of a normal recurring nature. Operating results for the three and nine months ended May 31, 2022 are not necessarily indicative of the results that may be expected for the entire fiscal year ending August 31, 2022. The COVID-19 pandemic has negatively impacted, and is likely to continue to negatively impact to varying extents, the global economy. The Company's operating results and financial position will continue to be subject to the general economic conditions created by the pandemic, including the current supply chain and logistics environment caused by the sharp increase in demand as global economies recover. The Company also has historically sold products to companies located in or associated with Russia. In response to Russia's invasion of Ukraine, many countries, including the countries that are members of the North Atlantic Treaty Organization ("NATO"), including the United States, have initiated sanctions and export controls targeting Russia and entities associated with Russia which significantly limits our ability to serve certain customers and collect on our outstanding receivables. The duration and extent to which the pandemic and trade sanctions against Russia effect the Company's business will depend on future developments which still remain uncertain. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions and amending and clarifying existing guidance. The Company adopted this guidance on September 1, 2021. The adoption did not have a material effect on our consolidated financial statements. Recently Issued Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends ASC 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022. The Company will adopt this guidance in the event of a business combination subsequent to the effective date of the guidance. In March 2020, the FASB issued ASU 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for a limited time to ease the potential burden of accounting for reference rate reform on financial reporting. This guidance applies to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates. The guidance is effective beginning on March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01 allowing entities to apply certain aspects of ASC 848 (previously ASU 2020-4) to all derivative instruments that undergo a modification of the interest rate used for discounting, margining or contract price alignment as a result of the reference reform. The guidance is also effective through December 31, 2022. The Company has not utilized any of the optional expedients or exceptions available under this guidance. The Company will continue to assess whether this guidance is applicable throughout the effective period. Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2022 August 31, 2021 Foreign currency translation adjustments $ 95,244 $ 69,986 Pension and other postretirement benefit plans, net of tax 22,070 22,998 Accumulated other comprehensive loss $ 117,314 $ 92,984 Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2022 August 31, 2021 Land, buildings and improvements $ 14,664 $ 16,617 Machinery and equipment 144,987 145,541 Gross property, plant and equipment 159,651 162,158 Less: Accumulated depreciation (115,251) (113,568) Property, plant and equipment, net $ 44,400 $ 48,590

Revenue Recognition Revenue fro

Revenue Recognition Revenue from Contract Customers (Notes)	9 Months Ended
Revenue Recognition Revenue from Contract Customers (Notes)	May 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2. Revenue from Contracts with Customers Nature of Goods and Services The Company generates its revenue under two principal activities, which are discussed below: Product Sales: Sales of tools, heavy-lifting solutions, and rope and cable solutions are recorded when control is transferred to the customer (i.e., performance obligation has been satisfied). For the majority of the Company’s product sales, revenue is recognized at a point in time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company to the customer. For certain other products that are highly customized and have a limited alternative use, and for which the Company has an enforceable right of reimbursement for performance completed to date, revenue is recognized over time. We consider the input measure (efforts-expended or cost-to-cost) or output measure as a fair measure of progress for the recognition of over-time revenue associated with these custom products. For a majority of the Company’s custom products, machine hours and labor hours (efforts-expended measurement) are used as a measure of progress. Service & Rental Sales : Service contracts consist of providing highly trained technicians to perform bolting, technical services, machining and joint-integrity work for our customers. These revenues are recognized over time as our customers simultaneously receive and consume the benefits provided by the Company. We consider the input measure (efforts-expended or cost-to-cost) or output measure as a fair measure of progress for the recognition of over-time revenue associated with service contracts. For a majority of the Company’s service contracts, labor hours (efforts-expended measurement) is used as the measure of progress when it is determined to be a better depiction of the transfer of control to the customer due to the timing and pattern of labor hours incurred. Revenue from rental contracts (less than a year and non-customized products) is generally recognized ratably over the contract term, depicting the customer’s consumption of the benefit related to the rental equipment. Disaggregated Revenue and Performance Obligations The Company disaggregates revenue from contracts with customers by reportable segment and product line and by the timing of when goods and services are transferred. See Note 13, "Segment Information" for information regarding our revenue disaggregation by reportable segment and product line. The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Revenues recognized at point in time $ 117,156 $ 107,316 $ 322,247 $ 284,823 Revenues recognized over time 34,738 35,833 97,148 98,410 Total $ 151,894 $ 143,149 $ 419,395 $ 383,233 Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2022 August 31, 2021 Receivables, which are included in accounts receivable, net $ 117,029 $ 103,233 Contract assets, which are included in other current assets 3,727 8,551 Contract liabilities, which are included in other current liabilities 3,348 3,410 Receivables: The Company performs its obligations under a contract with a customer by transferring goods or services in exchange for consideration from the customer. The Company typically invoices its customers as soon as control of an asset is transferred and a receivable for the Company is established. Accounts receivable, net is recorded at face amount of customer receivables less an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for expected losses as a result of customers’ inability to make required payments. Management evaluates the aging of customer receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of receivables that may not be collected in the future and records the appropriate provision. The allowance for doubtful acco unts was $18.3 million and $4.2 million at May 31, 2022 and August 31, 2021, respectively. As indicated in the "Concentration of Credit Risk" section below, as of May 31, 2022, the Company was exposed to a concentration of credit risk with an agent as a result of its continued payment delinquency. During the three months ended May 31, 2022, the Company recorded through bad debt expense (included in "Selling, general and administrative expenses" in the Condensed Consolidated Statements of Operations) an additional reserve of $10.8 million based on the updated consideration of the factors listed below, which now fully reserves for the outstanding account receivable balance for this agent. The allowance for doubtful accounts for this particular agent as of May 31, 2022 represents management's best estimate of the amount probable of collection and considers various factors with respect to this matter, including, but not limited to, (i) the lack of payment by the agent in the nine-month period ended May 31, 2022, (ii) our due diligence on balances due to the agent from its end customers related to sales of our services and products and the known markup on those sales from the agent to end customer, (iii) the status of ongoing negotiations with the agent to secure payments and (iv) legal recourse available to secure payment. Actual collections from the agent may differ from the Company's estimate. Contract Assets: Contract assets relate to the Company’s rights to consideration for work completed but not billed as of the reporting date on contracts with customers. The contract assets are transferred to receivables when the rights become unconditional and those amounts are invoiced. The Company has contract assets on contracts that are generally long-term and have revenues that are recognized over time. Contract Liabilities: As of May 31, 2022, the Company had certain contracts where there were unsatisfied performance obligations and the Company had received cash consideration from customers before the performance obligations were satisfied . The majority of these contracts relate to longer-term custo mer contracts (project durations of greater than three months) and are recognized over time. The Company estimates that the $3.3 million will be recognized in net sales from satisfying those performance obligations within the next twelve months, with an immaterial amount recognized in periods after. Concentration of Credit Risk: The Company sells products and services through distributors and agents. In certain jurisdictions, those third parties represent a significant portion of our sales in their respective country which can pose a concentration of credit risk if these larger distributors or agents are not timely in their payments. As of May 31, 2022, the Company was exposed to a concentration of credit risk as a result of the continued payment delinquency of one of our agents. This agent's accounts receivable, prior to consideration of the allowance for doubtful accounts, represe nt 9.7% of the Company's outstanding accounts receivable. Timing of Performance Obligations Satisfied at a Point in Time: The Company evaluates when the customer obtains control of the product based on shipping terms, as control will transfer, depending upon such terms, at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because (i) the Company has a present right to payment at that time; (ii) the legal title has been transferred to the customer; (iii) the Company has transferred physical possession of the product to the customer; and (iv) the customer has significant risks and rewards of ownership of the product. Variable Consideration: The Company estimates whether it will be subject to variable consideration under the terms of the contract and includes its estimate of variable consideration in the transaction price based on the expected value method when it is deemed probable of being realized based on historical experience and trends. Types of variable consideration may include rebates, incentives and discounts, among others, which are recorded as a reduction to net sales at the time when control of a performance obligation is transferred to the customer. Practical Expedients & Exemptions: The Company elected to expense the incremental cost to obtaining a contract when the amortization period for such contracts would be one year or less. The Company does not disclose the value of unperformed obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed.

Restructuring Charges (Notes)

Restructuring Charges (Notes)	9 Months Ended
Restructuring Charges (Notes)	May 31, 2022
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. During fiscal 2019, the Company announced a restructuring plan focused on (i) the integration of the Enerpac and Hydratight businesses (IT&S segment), (ii) the strategic exit of certain commodity-type services in our North America Services operations (IT&S segment) and (iii) driving efficiencies within the overall corporate structure. In the third quarter of fiscal 2020, the Company announced the expansion and revision of this plan, which further simplified and flattened the corporate structure through elimination of redundancies between the segment and corporate functions, while enhancing our commercial and marketing processes to become even closer to our customers. Upon assessment of the Company's operating structure by the Company's new President & Chief Executive Officer (hired effective October 2021), the Company recorded $0.6 million and $5.2 million of charges in the three and nine months ended May 31, 2022 in order to further simplify and streamline the organizational structure. Restructuring charges associated the fiscal 2019 plan were $1.5 million and $2.2 million in the three and nine months ended May 31, 2021. The total cumulative charges for the 2019 plan, which ended in the third quarter of fiscal year 2022, were $18.0 million. The following summarizes restructuring reserve activity (which for the nine months ended May 31, 2022 excludes $0.8 million and $0.5 million of charges for IT&S and Corporate, respectively, and for the nine months ended May 31, 2021 excludes less than $0.1 million of charges for IT&S, associated with the accelerated vesting of equity awards which has no impact on the restructuring reserve) for the IT&S segment and Corporate (in thousands): Nine Months Ended May 31, 2022 IT&S Corporate Balance as of August 31, 2021 $ 1,737 $ 26 Restructuring charges 2,818 1,050 Cash payments (3,385) (1,069) Impact of changes in foreign currency rates (79) — Balance as of May 31, 2022 $ 1,091 $ 7 Nine Months Ended May 31, 2021 IT&S Corporate Balance as of August 31, 2020 $ 1,443 $ 267 Restructuring charges 2,166 9 Cash payments (1,444) (250) Impact of changes in foreign currency rates 49 — Balance as of May 31, 2021 $ 2,214 $ 26 Total restructuring charges (inclusive of the Other segment) were $0.5 million and $5.1 million in the three and nine months ended May 31, 2022, respectively, and $1.6 million and $2.4 million in t he three and nine months ended May 31, 2021, respectively, being reported in "Restructuring charges." There was a restructuring benefit of less than $0.1 million related to Cortland U.S. (Other segment) in the three and nine months ended May 31, 2022. Restructuring expenses for Cortland U.S. were less than $0.1 million and $0.3 million in the three and nine months ended May 31, 2021, respectively. For Cortland U.S. there were no restructuring reserves as of May 31, 2022 and restructuring reserves were $0.1 million as of August 31, 2021.

Discontinued Operations & Other

Discontinued Operations & Other Divestiture Charges Discontinued Operations & Divestiture Activities (Notes)	9 Months Ended
	May 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 5. Discontinued Operations On October 31, 2019, as part of our overall strategy to become a pure-play industrial tools and services company, the Company completed the sale of the businesses comprising its former Engineered Components & Systems ("EC&S") segment. This divestiture was considered part of our strategic shift to become a pure-play industrial tools and services company, and therefore, the results of operations are recorded as a component of "Loss from discontinued operations, net of income taxes" in the Condensed Consolidated Statements of Operations for all periods presented. A component of the purchase price was payable in four quarterly installments of which the final $0.7 million was received in the nine months ended May 31, 2021 (this final payment was received greater than one year from the divestiture date and, as such, is reflected in "Cash provided by financing activities - discontinued operations" within the Condensed Consolidated Statements of Cash Flows). All other discontinued operations activity included within the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Cash Flows for the periods presented relate to impacts from certain retained liabilities. The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands) : Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Selling, general and administrative expenses $ 2,944 $ 102 $ 4,605 $ 956 Operating loss (2,944) (102) (4,605) (956) Other loss, net — — — — Loss before income tax benefit (2,944) (102) (4,605) (956) Income tax expense (benefit) (526) 124 (890) (104) Loss from discontinued operations, net of income taxes $ (2,418) $ (226) $ (3,715) $ (852)

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill, Intangible Assets and Long-Lived Assets Changes in the gross carrying value of goodwill and intangible assets result from changes in foreign currency exchange rates, business acquisitions, divestitures and impairment charges. The changes in the carrying amount of goodwill for the nine months ended May 31, 2022 are as follows (in thousands): IT&S Other Total Balance as of August 31, 2021 $ 265,087 $ 12,506 $ 277,593 Impact of changes in foreign currency rates (10,394) — (10,394) Balance as of May 31, 2022 $ 254,693 $ 12,506 $ 267,199 The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands): May 31, 2022 August 31, 2021 Weighted Average Gross Accumulated Net Gross Accumulated Net Amortizable intangible assets: Customer relationships 14 $ 138,234 $ 117,850 $ 20,384 $ 142,453 $ 114,463 $ 27,990 Patents 11 14,026 13,353 673 14,492 13,688 804 Trademarks and tradenames 12 3,204 2,374 830 3,307 2,391 916 Indefinite lived intangible assets: Tradenames N/A 23,276 — 23,276 24,835 — 24,835 $ 178,740 $ 133,577 $ 45,163 $ 185,087 $ 130,542 $ 54,545 The Company estimates that amortization expense will be $1.7 million for the remaining three months of fiscal 2022. Amortization expense for future years is estimated to be: $5.4 million in fiscal 2023, $3.8 million in fiscal 2024, $3.1 million in fiscal 2025, $1.9 million in fiscal 2026, $1.8 million in fiscal 2027 and $4.2 million cumulatively thereafter. The future amortization expense amounts represent estimates and may be impacted by future acquisitions, divestitures, or changes in foreign currency exchange rates, among other causes. In the nine months ended May 31, 2022 , the Company recorded "Impairment & divestiture charges" of $1.1 million; $0.8 million related to a customer relationship intangible asset whereby the Company no longer intends to operate in the country associated with said customers and $0.3 million associated with an indefinite lived tradename intangible asset on a secondary brand whereby the Company plans to sunset its use over the remainder of the fiscal year.

Product Warranty Costs

Product Warranty Costs	9 Months Ended
Product Warranty Costs	May 31, 2022
Guarantees [Abstract]
Product Warranty Costs	Note 7. Product Warranty Costs The Company generally offers its customers an assurance warranty on products sold, although warranty periods may vary by product type and application. The reserve for future warranty claims, which is recorded within the "Other current liabilities" line in the Condensed Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2022 and 2021, respectively (in thousands): Nine Months Ended May 31, 2022 2021 Beginning balance $ 1,300 $ 892 Provision for warranties 727 1,151 Warranty payments and costs incurred (629) (893) Impact of changes in foreign currency rates (81) 30 Ending balance $ 1,317 $ 1,180

Debt

Debt	9 Months Ended
Debt	May 31, 2022
Debt Disclosure [Abstract]
Debt	Note 8. Debt The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2022 August 31, 2021 Senior Credit Facility Revolver $ 205,000 $ 175,000 Total long-term debt, less current maturities $ 205,000 $ 175,000 Senior Credit Facility In March 2019, the Company entered into a senior credit facility (the “Senior Credit Facility”) with a syndicate of banks, to among other things, (i) expand the multi-currency revolving line of credit from $300 million to $400 million, (ii) extend the maturity of the Company's Senior Credit Facility from May 2020 to March 2024 (no required principal payments prior to maturity) and (iii) modify certain other provisions of the credit agreement including a reduction in pricing. The Senior Credit Facility was initially comprised of a $400 million revolving line of credit and a $200 million term loan. At May 31, 2022, there was $205.0 million of borrowings under the revolving line of credit and $189.8 million of available borrowing capacity under the revolving line of credit after reduction for $5.2 million of outstanding letters of credit issued under the Senior Credit Facility. The Senior Credit Facility also provides the option for future expansion, subject to certain conditions, through a $300 million accordion and/or a $200 million incremental term loan. Borrowings under the Senior Credit Facility bear interest at a variable rate based on LIBOR or a base rate, ranging from 1.125% to 2.00% in the case of loans bearing interest at LIBOR and from 0.125% to 1.00% in the case of loans bearing interest at the base rate. In addition, a non-use fee is payable quarterly on the average unused amount of the revolving line of credit ranging from 0.15% to 0.3% per annum, based on the Company's net leverage. The Senior Credit Facility contains two financial covenants, which are a maximum leverage ratio of 3.75:1 and a minimum interest coverage ratio of 3.5:1. Certain transactions lead to adjustments to the underlying ratios, including an increase to the leverage ratio from 3.75 to 4.25 during the four fiscal quarters after a significant acquisition.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
Fair Value Measurement	May 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 9. Fair Value Measurements The Company assesses the inputs used to measure the fair value of financial assets and liabilities using a three-tier hierarchy. Level 1 inputs include unadjusted quoted prices for identical instruments and are the most observable. Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, foreign currency exchange rates, commodity rates and yield curves. Level 3 inputs are not observable in the market and include management’s own judgments about the assumptions market participants would use in pricing an asset or liability. The fair value of the Company’s cash and cash equivalents, accounts receivable, accounts payable and variable rate long-term debt approximated book value at both May 31, 2022 and August 31, 2021 due to their short-term nature and/or the fact that the interest rates approximated market rates. Foreign currency exchange contracts and interest rate swaps are recorded at fair value. The fair value of the Company's foreign currency exchange contracts was a net liability of less than $0.1 million at both May 31, 2022 and August 31, 2021. T

Derivatives

Derivatives	9 Months Ended
Derivatives	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Fair Value [Text Block]	Note 10. Derivatives All derivatives are recognized in the balance sheet at their estimated fair value. The Company does not enter into derivatives for speculative purposes. Changes in the fair value of derivatives (not designated as hedges) are recorded in earnings along with the gain or loss on the hedged asset or liability. The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations. In order to manage this risk, the Company utilizes foreign currency exchange contracts to reduce the exchange rate risk associated with recognized non-functional currency balances. The effects of changes in exchange rates are reflected concurrently in earnings for both the fair value of the foreign currency exchange contracts and the related non-functional currency asset or liability. These derivative gains and losses offset foreign currency gains and losses from the related revaluation of non-functional currency assets and liabilities (amounts included in "Other (income) expense" in the Condensed Consolidated Statements of Operations). The U.S. dollar equivalent notional value of these short-duration foreign currency exchange contracts w as $15.2 million a nd $16.0 million at May 31, 2022 and August 31, 2021, respectively. The fair value of outstanding foreign currency exchange contrac ts was a net liability of less than $0.1 million at both May 31, 2022 and August 31, 2021. Net foreign currency (loss) gain (included in "Other (income) expense" in the Condensed Consolidated Statements of Operations) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Foreign currency (loss) gain, net $ (196) $ 7 $ (324) $ 67 The Company was a fixed-rate payor on an interest rate swap contract that fixed the LIBOR-based index used to determine the interest rates charged on a total of $100.0 million of the Company's LIBOR-based variable rate borrowings on the revolving line of credit. The contract carried a fixed rate of 0.259% and expired in August 2021. The swap agreement qualified as a hedging instrument and was designated as a cash flow hedge of forecasted LIBOR-based interest payments. The change in the fair value of the interest rate swap, a gain of less than $0.1 million in both the three and nine months ended May 31, 2021 was

Capital Stock and Share Repurch

Capital Stock and Share Repurchase	9 Months Ended
Capital Stock and Share Repurchase	May 31, 2022
Earnings Per Share [Abstract]
Capital Stock and Share Repurchase	Note 11. Earnings per Share and Shareholders' Equity The Company's Board of Directors has authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 24,554,305 shares of common stock for $704.0 million. The Company suspended the share repurchase program in response to the COVID-19 pandemic in the third quarter of fiscal 2020 and, accordingly, did not repurchase shares in the nine months ended May 31, 2021. Subsequently, in the three months ended May 31, 2022, the Company started repurchasing shares in market transactions following the Company's Board of Directors rescinding its prior share repurchase authorization and authorizing the repurchase of a total of 10,000,000 shares. The Company repurchased 1,755,075 shares for $36.3 million during the three months ended May 31, 2022. As of May 31, 2022, the maximum number of shares that may yet be purchased under the programs is 8,244,925 shares. The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Numerator: Net earnings from continuing operations $ 4,061 $ 25,257 $ 9,367 $ 33,663 Net loss from discontinued operations (2,418) (226) (3,715) (852) Net earnings $ 1,643 $ 25,031 5,652 32,811 Denominator: Weighted average common shares outstanding - basic 60,227 60,144 60,292 59,964 Net effect of dilutive securities - stock based compensation plans 383 430 348 348 Weighted average common shares outstanding - diluted 60,610 60,574 60,640 60,312 Earnings per common share from continuing operations: Basic $ 0.07 $ 0.42 $ 0.16 $ 0.56 Diluted $ 0.07 $ 0.42 $ 0.15 $ 0.56 Loss per common share from discontinued operations: Basic $ (0.04) $ (0.00) $ (0.06) $ (0.01) Diluted $ (0.04) $ (0.00) $ (0.06) $ (0.01) Earnings per common share:* Basic $ 0.03 $ 0.42 $ 0.09 $ 0.55 Diluted $ 0.03 $ 0.41 $ 0.09 $ 0.54 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 951 548 945 990 *The total of Earnings per share from continuing operations and Loss per share from discontinued operations may not equal Earnings per share due to rounding. The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2022 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2021 83,022 $ 16,604 $ 202,971 $ (667,732) $ 953,339 $ (92,984) $ (3,067) $ 3,067 $ 412,198 Net earnings — — — — 2,788 — — — 2,788 Other comprehensive loss, net of tax — — — — — (10,044) — — (10,044) Stock contribution to employee benefit plans and other 2 1 84 — — — — — 85 Vesting of equity awards 67 17 (17) — — — — — — Stock based compensation expense — — 6,147 — — — — — 6,147 Tax effect related to net share settlement of equity awards — — (1,393) — — — — — (1,393) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (25) 25 25 Balance at November 30, 2021 83,092 $ 16,622 $ 207,817 $ (667,732) $ 956,127 $ (103,028) $ (3,092) $ 3,092 $ 409,806 Net earnings — — — — 1,221 — — — 1,221 Other comprehensive income, net of tax — — — — — 1,744 — — 1,744 Stock contribution to employee benefit plans and other 5 1 64 — — — — — 65 Vesting of equity awards 247 46 (46) — — — — — — Stock based compensation expense — — 2,142 — — — — — 2,142 Tax effect related to net share settlement of equity awards — — (1,980) — — — — — (1,980) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — 3 (3) 25 Balance at February 28, 2022 83,345 $ 16,669 $ 208,022 $ (667,732) $ 957,348 $ (101,284) $ (3,089) $ 3,089 $ 413,023 Net earnings — — — — 1,643 — — — 1,643 Other comprehensive loss, net of tax — — — — — (16,030) — — (16,030) Stock contribution to employee benefit plans and other 4 1 65 — — — — — 66 Treasury stock repurchases — — — (36,295) — — — — (36,295) Stock based compensation expense — — 3,828 — — — — — 3,828 Tax effect related to net share settlement of equity awards — — (3) — — — — — (3) Stock issued to, acquired for and distributed from rabbi trust 1 — 40 — — — (59) 59 40 Balance at May 31, 2022 83,350 $ 16,670 $ 211,952 $ (704,027) $ 958,991 $ (117,314) $ (3,148) $ 3,148 $ 366,272 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2021 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2020 82,594 $ 16,519 $ 193,492 $ (667,732) $ 917,671 $ (100,724) $ (2,562) $ 2,562 $ 359,226 Net earnings — — — — 4,598 — — — 4,598 Other comprehensive income, net of tax — — — — — 1,629 — — 1,629 Stock contribution to employee benefit plans and other 6 1 100 — — — — — 101 Vesting of equity awards 20 4 (4) — — — — — — Stock based compensation expense — — 2,581 — — — — — 2,581 Tax effect related to net share settlement of equity awards — — (275) — — — — — (275) Stock issued to, acquired for and distributed from rabbi trust 5 1 85 — — — (81) 81 86 Balance at November 30, 2020 82,625 $ 16,525 $ 195,979 $ (667,732) $ 922,269 $ (99,095) $ (2,643) $ 2,643 $ 367,946 Net earnings — — — — 3,182 — — — 3,182 Other comprehensive income, net of tax — — — — — 9,157 — — 9,157 Stock contribution to employee benefit plans and other 4 1 80 — — — — — 81 Vesting of equity awards 235 47 (47) — — — — — — Stock based compensation expense — — 2,647 — — — — — 2,647 Tax effect related to net share settlement of equity awards — — (1,706) — — — — — (1,706) Stock issued to, acquired for and distributed from rabbi trust 15 3 83 — — — (353) 353 86 Balance at February 28, 2021 82,879 $ 16,576 $ 197,036 $ (667,732) $ 925,451 $ (89,938) $ (2,996) $ 2,996 $ 381,393 Net earnings — — — — 25,031 — — — 25,031 Other comprehensive income, net of tax — — — — — 6,538 — — 6,538 Stock contribution to employee benefit plans and other 5 1 96 — — — — — 97 Vesting of equity awards 17 3 (3) — — — — — — Stock based compensation expense — — 2,157 — — — — — 2,157 Stock option exercises 89 18 2,008 — — — — — 2,026 Tax effect related to net share settlement of equity awards — — (356) — — — — — (356) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (3) 3 25 Balance at May 31, 2021 82,991 $ 16,598 $ 200,963 $ (667,732) $ 950,482 $ (83,400) $ (2,999) $ 2,999 $ 416,911

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	May 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company's glob al operations, acquisition activity (as applicable) and specific tax attributes provide opportunities for continuous global tax planning initiatives to maximize tax credits and deductions. Comparative earnings before income taxes, income tax expense (benefit) and effective income tax rates from continuing operations are as follows (dollars in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Earnings from continuing operations before income tax expense (benefit) $ 5,438 $ 20,867 $ 13,862 $ 31,531 Income tax expense (benefit) 1,377 (4,390) 4,495 (2,132) Effective income tax rate 25.3 % (21.0) % 32.4 % (6.8) % The Company’s earnings from continuing operations before income taxes include earnings from both U.S. and foreign jurisdictions. Though most foreign tax rates are now in line with the U.S. tax rate of 21%, the annual effective tax rate is impacted by withholding taxes, losses in jurisdictions whe re no benefit can be realized, and various aspects of the U.S. Tax Cuts and Jobs Act, such as the Global Intangible Low-Taxed Income, Foreign-Derived Intangible Income and Base Erosion and Anti-Abuse Tax provisions. The effective tax rate for the three months ended May 31, 2022 was 25.3%, compared to (21.0)% for the comparable prior-year period. Overall, both time periods are significantly impacted by year-to-date losses and deductions in jurisdictions where no tax benefit can be realized. The lower effective tax rate for the three months ended May 31, 2021 was primarily driven by tax benefits related to uncertain tax position releases related to audit closures and tax planning strategies that included the carryback of net losses that offset income from taxable years where the rate was 35%. Both the current and prior-year effective income tax rates include the impact of non-recurring items.

Segment Information

Segment Information	9 Months Ended
Segment Information	May 31, 2022
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information The Company is a global manufacturer of a broad range of industrial products and solutions. The IT&S reportable segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the industrial, maintenance, infrastructure, oil & gas, alternative energy and other markets. The Other operating segment is included for purposes of reconciliation of the respective balances below to the condensed consolidated financial statements. The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Net Sales by Reportable Segment & Product Line IT&S Segment Product $ 109,915 $ 102,224 $ 299,761 $ 271,992 Service & Rental 30,480 31,176 87,886 86,322 140,395 133,400 387,647 358,314 Other Operating Segment 11,499 9,749 31,748 24,919 $ 151,894 $ 143,149 $ 419,395 $ 383,233 Operating Profit (Loss) IT&S Segment $ 19,226 $ 23,812 $ 49,872 $ 54,826 Other Operating Segment 1,096 (65) 173 (3,747) General Corporate (13,679) (1,000) (32,511) (13,555) $ 6,643 $ 22,747 $ 17,534 $ 37,524 May 31, 2022 August 31, 2021 Assets IT&S Segment $ 641,199 $ 641,256 Other Operating Segment 49,626 52,745 General Corporate 106,474 126,246 $ 797,299 $ 820,247 In addition to the impact of changes in foreign currency exchange rates, the comparability of segment and product line information is impacted by acquisition/divestiture activities, impairment & divestiture charges, restructuring costs and related benefits. Corporate assets, which are not allocated, principally represent cash and cash equivalents, property, plant and equipment, Right of Use ("ROU") assets, capitalized debt issuance costs and deferred income taxes.

Contingencies and Litigation

Contingencies and Litigation	9 Months Ended
Contingencies and Litigation	May 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Note 14. Commitments and Contingencies The Comp any had outstanding letters of credit of $10.8 million and $11.9 million at May 31, 2022 and August 31, 2021, respectively, the majority of which relate to commercial contracts and self-insured workers' compensation programs. As part of the Company's global sourcing strategy, we have en tered into agreements with certain suppliers that require the supplier to maintain minimum levels of inventory to support certain products for which we require a short lead time to fulfill customer orders. We have the ability to notify the supplier that they no longer need maintain the minimum level of inventory should we discontinue manufacturing of a product during the contract period; however, we must purchase the remaining minimum inventory levels the supplier was required to maintain within a defined period of time. The Company is a party to various legal proceedings that have arisen in the normal course of business. These legal proceedings include regulatory matters, product liability, breaches of contract, employment, personal injury and other disputes. The Company has recorded reserves for loss contingencies based on the specific circumstances of each case. Such reserves are recorded when it is probable a loss has been incurred and can be reasonably estimated. The Company maintains a policy to exclude from such reserves an estimate of legal defense costs. In the opinion of management, resolution of these contingencies is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. The Company remains contingently liable for lease payments under leases of businesses that it previously divested or spun-off in the event that such businesses are unable to fulfill their future lease payment obligations; however, the Company does not believe it is probable that it will be required to satisfy these obligations. Future minimum lease payments for these leases at May 31, 2022 were $4.1 million associated with monthly payments extending to fiscal 2025. Additionally, in fiscal 2019, the Company provided voluntary self-disclosures to both Dutch and U.S. authorities related to sales of products and services linked to the Crimea region of Ukraine, which sales potentially violated European Union and U.S. sanctions provisions. Although the U.S. investigation closed without further implication, the Dutch investigation continued. The Dutch Investigator concluded his investigation in March 2022 and provided the results to the Public Prosecutor’s office for review. Specifically, the Investigator concluded that the sales transactions violated EU sanctions. The conclusion in the Investigator's report was consistent with the Company's understanding of what could be stated in the report and was the basis to record an expense representing the low end of a reasonable range of financial penalties the Company may incur in the six-month period ended February 28, 2021. The Company has not adjusted its estimate of financial penalties as a result of the completion of the investigation in the nine-month period ended May 31, 2022. While there can be no assurance of the ultimate outcome of the matter, the Company currently believes that there will be no material adverse effect on the Company's financial position, results of operations or cash flows from this matter.

Leases Leases

Leases Leases	9 Months Ended
Leases Leases	May 31, 2022
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Note 15. Leases The Company has operating leases for real estate, vehicles, manufacturing equipment, IT equipment and office equipment (the Company does not have any financing leases). Our leases typically range in term from 3 to 15 years and may contain renewal options for periods up to 5 years at our discretion. Operating leases are recorded as operating lease ROU assets in “Other long-term assets” and operating lease liabilities in “Other current liabilities” and “Other long-term liabilities” of the Condensed Consolidated Balance Sheets. There have been no material changes to our operating lease ROU assets and operating lease liabilities during the nine months ended May 31, 2022. The components of lease expense were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Lease Cost: Operating lease cost $ 3,540 $ 3,861 $ 10,962 $ 11,333 Short-term lease cost 391 431 1,241 1,241 Variable lease cost 843 803 2,857 2,550 In the three months ended May 31, 2021, the Company sold and subsequently leased back a portion of our manufacturing facility in China as part of our global footprint rationalization initiative. In connection with the transaction, the Company recognized a gain of $10.0 million . The Company also incurred $4.6 million of closing related costs and value-added and land taxes associated with this transaction for a net gain of $5.4 million which is recorded in "Selling, general and administrative expenses" within the Condensed Consolidated Statements of Operations. Supplemental cash flow and other information related to leases were as follows (in thousands): Nine Months Ended May 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,691 $ 11,336 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 4,101 5,468

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	May 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Event On June 27, 2022, the Company approved a new 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 total costs of this plan are estimat ed at $6 to $10 million, w ill be predominately employee-related costs impacting both IT&S and Corporate, and will be incurred over the next 24 months, ending in the fourth quarter of fiscal year 2024. As the ASCEND transformation program continues to develop, additional restructuring actions associated with other elements of the program may be initiated in future periods.

Basis of Presentation Property,

Basis of Presentation Property, Plant and Equipment	9 Months Ended
Basis of Presentation Property, Plant and Equipment	May 31, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment [Table Text Block]	Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2022 August 31, 2021 Land, buildings and improvements $ 14,664 $ 16,617 Machinery and equipment 144,987 145,541 Gross property, plant and equipment 159,651 162,158 Less: Accumulated depreciation (115,251) (113,568) Property, plant and equipment, net $ 44,400 $ 48,590

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation Basis of Presentation (Policies)	May 31, 2022
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions and amending and clarifying existing guidance. The Company adopted this guidance on September 1, 2021. The adoption did not have a material effect on our consolidated financial statements. Recently Issued Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends ASC 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022. The Company will adopt this guidance in the event of a business combination subsequent to the effective date of the guidance. In March 2020, the FASB issued ASU 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for a limited time to ease the potential burden of accounting for reference rate reform on financial reporting. This guidance applies to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates. The guidance is effective beginning on March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01 allowing entities to apply certain aspects of ASC 848 (previously ASU 2020-4) to all derivative instruments that undergo a modification of the interest rate used for discounting, margining or contract price alignment as a result of the reference reform. The guidance is also effective through December 31, 2022. The Company has not utilized any of the optional expedients or exceptions available under this guidance. The Company will continue to assess whether this guidance is applicable throughout the effective period.
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive Loss The following is a summary of the Company's accumulated other comprehensive loss (in thousands): May 31, 2022 August 31, 2021 Foreign currency translation adjustments $ 95,244 $ 69,986 Pension and other postretirement benefit plans, net of tax 22,070 22,998 Accumulated other comprehensive loss $ 117,314 $ 92,984
Property, Plant and Equipment [Table Text Block]	Property Plant and Equipment The following is a summary of the Company's components of property, plant and equipment (in thousands): May 31, 2022 August 31, 2021 Land, buildings and improvements $ 14,664 $ 16,617 Machinery and equipment 144,987 145,541 Gross property, plant and equipment 159,651 162,158 Less: Accumulated depreciation (115,251) (113,568) Property, plant and equipment, net $ 44,400 $ 48,590

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenues (Tables)	9 Months Ended
Revenue Recognition Disaggregation of Revenues (Tables)	May 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents information regarding revenues disaggregated by the timing of when goods and services are transferred (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Revenues recognized at point in time $ 117,156 $ 107,316 $ 322,247 $ 284,823 Revenues recognized over time 34,738 35,833 97,148 98,410 Total $ 151,894 $ 143,149 $ 419,395 $ 383,233

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Assets and Liabilities (Tables)	9 Months Ended
	May 31, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Balances The Company's contract assets and liabilities are as follows (in thousands): May 31, 2022 August 31, 2021 Receivables, which are included in accounts receivable, net $ 117,029 $ 103,233 Contract assets, which are included in other current assets 3,727 8,551 Contract liabilities, which are included in other current liabilities 3,348 3,410

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
Restructuring Charges (Tables)	May 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following summarizes restructuring reserve activity (which for the nine months ended May 31, 2022 excludes $0.8 million and $0.5 million of charges for IT&S and Corporate, respectively, and for the nine months ended May 31, 2021 excludes less than $0.1 million of charges for IT&S, associated with the accelerated vesting of equity awards which has no impact on the restructuring reserve) for the IT&S segment and Corporate (in thousands): Nine Months Ended May 31, 2022 IT&S Corporate Balance as of August 31, 2021 $ 1,737 $ 26 Restructuring charges 2,818 1,050 Cash payments (3,385) (1,069) Impact of changes in foreign currency rates (79) — Balance as of May 31, 2022 $ 1,091 $ 7 Nine Months Ended May 31, 2021 IT&S Corporate Balance as of August 31, 2020 $ 1,443 $ 267 Restructuring charges 2,166 9 Cash payments (1,444) (250) Impact of changes in foreign currency rates 49 — Balance as of May 31, 2021 $ 2,214 $ 26

Discontinued Operations & Oth_2

Discontinued Operations & Other Divestiture Charges Discontinued Operations Balance Sheet and Statement of Operations (Tables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Net (Loss) Earnings from Discontinued Operations	$ 2,418	$ 226	$ 3,715	$ 852

Discontinued Operations & Oth_3

Discontinued Operations & Other Divestiture Charges Statement of Operations (Tables)	9 Months Ended
	May 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands) : Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Selling, general and administrative expenses $ 2,944 $ 102 $ 4,605 $ 956 Operating loss (2,944) (102) (4,605) (956) Other loss, net — — — — Loss before income tax benefit (2,944) (102) (4,605) (956) Income tax expense (benefit) (526) 124 (890) (104) Loss from discontinued operations, net of income taxes $ (2,418) $ (226) $ (3,715) $ (852)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended May 31, 2022 are as follows (in thousands): IT&S Other Total Balance as of August 31, 2021 $ 265,087 $ 12,506 $ 277,593 Impact of changes in foreign currency rates (10,394) — (10,394) Balance as of May 31, 2022 $ 254,693 $ 12,506 $ 267,199
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Table	The gross carrying value and accumulated amortization of the Company’s intangible assets are as follows (in thousands): May 31, 2022 August 31, 2021 Weighted Average Gross Accumulated Net Gross Accumulated Net Amortizable intangible assets: Customer relationships 14 $ 138,234 $ 117,850 $ 20,384 $ 142,453 $ 114,463 $ 27,990 Patents 11 14,026 13,353 673 14,492 13,688 804 Trademarks and tradenames 12 3,204 2,374 830 3,307 2,391 916 Indefinite lived intangible assets: Tradenames N/A 23,276 — 23,276 24,835 — 24,835 $ 178,740 $ 133,577 $ 45,163 $ 185,087 $ 130,542 $ 54,545

Product Warranty Costs (Tables)

Product Warranty Costs (Tables)	9 Months Ended
Product Warranty Costs (Tables)	May 31, 2022
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2022 and 2021, respectively (in thousands): Nine Months Ended May 31, 2022 2021 Beginning balance $ 1,300 $ 892 Provision for warranties 727 1,151 Warranty payments and costs incurred (629) (893) Impact of changes in foreign currency rates (81) 30 Ending balance $ 1,317 $ 1,180

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	May 31, 2022
Debt Disclosure [Abstract]
Long-Term Indebtedness	The following is a summary of the Company’s long-term indebtedness (in thousands): May 31, 2022 August 31, 2021 Senior Credit Facility Revolver $ 205,000 $ 175,000 Total long-term debt, less current maturities $ 205,000 $ 175,000

Derivatives Derivatives (Tables

Derivatives Derivatives (Tables)	9 Months Ended
Derivatives Derivatives (Tables)	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	Net foreign currency (loss) gain (included in "Other (income) expense" in the Condensed Consolidated Statements of Operations) related to these derivative instruments were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Foreign currency (loss) gain, net $ (196) $ 7 $ (324) $ 67

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	May 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Numerator: Net earnings from continuing operations $ 4,061 $ 25,257 $ 9,367 $ 33,663 Net loss from discontinued operations (2,418) (226) (3,715) (852) Net earnings $ 1,643 $ 25,031 5,652 32,811 Denominator: Weighted average common shares outstanding - basic 60,227 60,144 60,292 59,964 Net effect of dilutive securities - stock based compensation plans 383 430 348 348 Weighted average common shares outstanding - diluted 60,610 60,574 60,640 60,312 Earnings per common share from continuing operations: Basic $ 0.07 $ 0.42 $ 0.16 $ 0.56 Diluted $ 0.07 $ 0.42 $ 0.15 $ 0.56 Loss per common share from discontinued operations: Basic $ (0.04) $ (0.00) $ (0.06) $ (0.01) Diluted $ (0.04) $ (0.00) $ (0.06) $ (0.01) Earnings per common share:* Basic $ 0.03 $ 0.42 $ 0.09 $ 0.55 Diluted $ 0.03 $ 0.41 $ 0.09 $ 0.54 Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation) 951 548 945 990 *The total of Earnings per share from continuing operations and Loss per share from discontinued operations may not equal Earnings per share due to rounding. The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2022 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2021 83,022 $ 16,604 $ 202,971 $ (667,732) $ 953,339 $ (92,984) $ (3,067) $ 3,067 $ 412,198 Net earnings — — — — 2,788 — — — 2,788 Other comprehensive loss, net of tax — — — — — (10,044) — — (10,044) Stock contribution to employee benefit plans and other 2 1 84 — — — — — 85 Vesting of equity awards 67 17 (17) — — — — — — Stock based compensation expense — — 6,147 — — — — — 6,147 Tax effect related to net share settlement of equity awards — — (1,393) — — — — — (1,393) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (25) 25 25 Balance at November 30, 2021 83,092 $ 16,622 $ 207,817 $ (667,732) $ 956,127 $ (103,028) $ (3,092) $ 3,092 $ 409,806 Net earnings — — — — 1,221 — — — 1,221 Other comprehensive income, net of tax — — — — — 1,744 — — 1,744 Stock contribution to employee benefit plans and other 5 1 64 — — — — — 65 Vesting of equity awards 247 46 (46) — — — — — — Stock based compensation expense — — 2,142 — — — — — 2,142 Tax effect related to net share settlement of equity awards — — (1,980) — — — — — (1,980) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — 3 (3) 25 Balance at February 28, 2022 83,345 $ 16,669 $ 208,022 $ (667,732) $ 957,348 $ (101,284) $ (3,089) $ 3,089 $ 413,023 Net earnings — — — — 1,643 — — — 1,643 Other comprehensive loss, net of tax — — — — — (16,030) — — (16,030) Stock contribution to employee benefit plans and other 4 1 65 — — — — — 66 Treasury stock repurchases — — — (36,295) — — — — (36,295) Stock based compensation expense — — 3,828 — — — — — 3,828 Tax effect related to net share settlement of equity awards — — (3) — — — — — (3) Stock issued to, acquired for and distributed from rabbi trust 1 — 40 — — — (59) 59 40 Balance at May 31, 2022 83,350 $ 16,670 $ 211,952 $ (704,027) $ 958,991 $ (117,314) $ (3,148) $ 3,148 $ 366,272 The following table illustrates the changes in the balances of each component of shareholders' equity for the nine months ended May 31, 2021 (in thousands): Common Stock Additional Treasury Retained Accumulated Stock Deferred Total Issued Amount Balance at August 31, 2020 82,594 $ 16,519 $ 193,492 $ (667,732) $ 917,671 $ (100,724) $ (2,562) $ 2,562 $ 359,226 Net earnings — — — — 4,598 — — — 4,598 Other comprehensive income, net of tax — — — — — 1,629 — — 1,629 Stock contribution to employee benefit plans and other 6 1 100 — — — — — 101 Vesting of equity awards 20 4 (4) — — — — — — Stock based compensation expense — — 2,581 — — — — — 2,581 Tax effect related to net share settlement of equity awards — — (275) — — — — — (275) Stock issued to, acquired for and distributed from rabbi trust 5 1 85 — — — (81) 81 86 Balance at November 30, 2020 82,625 $ 16,525 $ 195,979 $ (667,732) $ 922,269 $ (99,095) $ (2,643) $ 2,643 $ 367,946 Net earnings — — — — 3,182 — — — 3,182 Other comprehensive income, net of tax — — — — — 9,157 — — 9,157 Stock contribution to employee benefit plans and other 4 1 80 — — — — — 81 Vesting of equity awards 235 47 (47) — — — — — — Stock based compensation expense — — 2,647 — — — — — 2,647 Tax effect related to net share settlement of equity awards — — (1,706) — — — — — (1,706) Stock issued to, acquired for and distributed from rabbi trust 15 3 83 — — — (353) 353 86 Balance at February 28, 2021 82,879 $ 16,576 $ 197,036 $ (667,732) $ 925,451 $ (89,938) $ (2,996) $ 2,996 $ 381,393 Net earnings — — — — 25,031 — — — 25,031 Other comprehensive income, net of tax — — — — — 6,538 — — 6,538 Stock contribution to employee benefit plans and other 5 1 96 — — — — — 97 Vesting of equity awards 17 3 (3) — — — — — — Stock based compensation expense — — 2,157 — — — — — 2,157 Stock option exercises 89 18 2,008 — — — — — 2,026 Tax effect related to net share settlement of equity awards — — (356) — — — — — (356) Stock issued to, acquired for and distributed from rabbi trust 1 — 25 — — — (3) 3 25 Balance at May 31, 2021 82,991 $ 16,598 $ 200,963 $ (667,732) $ 950,482 $ (83,400) $ (2,999) $ 2,999 $ 416,911

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
Income Taxes Income Taxes (Tables)	May 31, 2022
Income Tax Disclosure [Abstract]
Income Tax Effective Tax Rate [Table Text Block]	Comparative earnings before income taxes, income tax expense (benefit) and effective income tax rates from continuing operations are as follows (dollars in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Earnings from continuing operations before income tax expense (benefit) $ 5,438 $ 20,867 $ 13,862 $ 31,531 Income tax expense (benefit) 1,377 (4,390) 4,495 (2,132) Effective income tax rate 25.3 % (21.0) % 32.4 % (6.8) %

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	May 31, 2022
Segment Reporting [Abstract]
Summary of Financial Information by Reportable Segment and Product Line	The following tables summarize financial information by reportable segment and product line (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Net Sales by Reportable Segment & Product Line IT&S Segment Product $ 109,915 $ 102,224 $ 299,761 $ 271,992 Service & Rental 30,480 31,176 87,886 86,322 140,395 133,400 387,647 358,314 Other Operating Segment 11,499 9,749 31,748 24,919 $ 151,894 $ 143,149 $ 419,395 $ 383,233 Operating Profit (Loss) IT&S Segment $ 19,226 $ 23,812 $ 49,872 $ 54,826 Other Operating Segment 1,096 (65) 173 (3,747) General Corporate (13,679) (1,000) (32,511) (13,555) $ 6,643 $ 22,747 $ 17,534 $ 37,524 May 31, 2022 August 31, 2021 Assets IT&S Segment $ 641,199 $ 641,256 Other Operating Segment 49,626 52,745 General Corporate 106,474 126,246 $ 797,299 $ 820,247

Leases Components of Lease Expe

Leases Components of Lease Expense (Tables)	9 Months Ended
Leases Components of Lease Expense (Tables)	May 31, 2022
Components of Lease Expense [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows (in thousands): Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Lease Cost: Operating lease cost $ 3,540 $ 3,861 $ 10,962 $ 11,333 Short-term lease cost 391 431 1,241 1,241 Variable lease cost 843 803 2,857 2,550

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information Related to Leases (Tables)	9 Months Ended
	May 31, 2022
Supplemental Cash Flow Information Related to Leases [Abstract]
Supplemental Cash Flow Information Related to Leases [Table Text Block]	Supplemental cash flow and other information related to leases were as follows (in thousands): Nine Months Ended May 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,691 $ 11,336 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 4,101 5,468

Basis of Presentation Schedul_2

Basis of Presentation Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Line Items]
Land, buildings and improvements	$ 14,664	$ 16,617
Machinery and equipment	144,987	145,541
Gross Property, Plant and Equipment	159,651	162,158
Less: Accumulated Depreciation	(115,251)	(113,568)
Property, Plant and Equipment, Net	$ 44,400	$ 48,590

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	Aug. 31, 2020
Condensed Statement of Income Captions [Line Items]
Foreign currency translation adjustments	$ 95,244			$ 69,986
Pension and other postretirement benefit plans, net of tax	22,070			22,998
Total shareholders’ equity	(366,272)	$ (413,023)	$ (409,806)	(412,198)	$ (416,911)	$ (381,393)	$ (367,946)	$ (359,226)
AOCI Attributable to Parent [Member]
Condensed Statement of Income Captions [Line Items]
Total shareholders’ equity	$ 117,314	$ 101,284	$ 103,028	$ 92,984	$ 83,400	$ 89,938	$ 99,095	$ 100,724

Revenue Recognition Disaggreg_2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 151,894	$ 143,149	$ 419,395	$ 383,233
Revenue Recognized at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	117,156	107,316	322,247	284,823
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 34,738	$ 35,833	$ 97,148	$ 98,410

Revenue Recognition Contract _2

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2022	Aug. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 18,300	$ 4,200
Accounts receivable, net	117,029	103,233
Contract assets	3,727	8,551
Contract liabilities	3,348	$ 3,410
Revenue, remaining performance obligation, within next twelve months	$ 3,300
Percentage of accounts receivable	9.70%
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 10,800

ASCEND Transformation Program

ASCEND Transformation Program - USD ($) $ in Millions	3 Months Ended	9 Months Ended
ASCEND Transformation Program - USD ($) $ in Millions	May 31, 2022	May 31, 2022
ACEND Transformation Costs [Abstract]
ASCEND Transformation Costs		Note 3. ASCEND Transformation Program On March 23, 2022, the Company announced the launch of ASCEND, a new transformation program focused on driving accelerated earnings growth and efficiency across the business with the goal of delivering an incremental $40 to $50 million of annual operating profit once fully implemented. As part of ASCEND, the Company will focus on the following key initiatives: (i) accelerating organic growth go-to-market strategies, (ii) improving operational excellence and production efficiency by utilizing a lean approach and (iii) driving greater efficiency and productivity in Selling, General and Administrative ("SG&A") by better leveraging resources to create a more efficient and agile organization. The Company is currently developing plans for the implementation of this program and continues to anticipate investing approximately $60 to $65 million (as disclosed in Note 16, "Subsequent Event , " $6 to $10 million, of these investments relate to the ASCEND restructuring plan). Elements of these investments could include such cash costs as capital expenditures, restructuring costs, third-party support, and incentive costs. We do not anticipate significant non-cash costs to be incurred as part of the ASCEND program. Total program expenses were approximately $3.9 million for the three months ended May 31, 2022, which were recorded within SG&A expenses and were largely comprised of third-party support costs.
Incremental Operating Profit	$ 40
Incremental Operating Profit Maximum	50
ASCEND transformation program charges	3.9
Anticipated Invested Expense	60
Anticipated Invested Expense Maximum	$ 65

ASCEND Transformation Costs (Ta

ASCEND Transformation Costs (Tables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring Charges	$ 517	$ 1,571	$ 5,086	$ 2,430

ASCEND Transformation Program_2

ASCEND Transformation Program	9 Months Ended
ASCEND Transformation Program	May 31, 2022
Restructuring and Related Activities [Abstract]
ASCEND Transformation Costs	Note 3. ASCEND Transformation Program On March 23, 2022, the Company announced the launch of ASCEND, a new transformation program focused on driving accelerated earnings growth and efficiency across the business with the goal of delivering an incremental $40 to $50 million of annual operating profit once fully implemented. As part of ASCEND, the Company will focus on the following key initiatives: (i) accelerating organic growth go-to-market strategies, (ii) improving operational excellence and production efficiency by utilizing a lean approach and (iii) driving greater efficiency and productivity in Selling, General and Administrative ("SG&A") by better leveraging resources to create a more efficient and agile organization. The Company is currently developing plans for the implementation of this program and continues to anticipate investing approximately $60 to $65 million (as disclosed in Note 16, "Subsequent Event , " $6 to $10 million, of these investments relate to the ASCEND restructuring plan). Elements of these investments could include such cash costs as capital expenditures, restructuring costs, third-party support, and incentive costs. We do not anticipate significant non-cash costs to be incurred as part of the ASCEND program. Total program expenses were approximately $3.9 million for the three months ended May 31, 2022, which were recorded within SG&A expenses and were largely comprised of third-party support costs.

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		36 Months Ended
Restructuring Charges (Details) - USD ($) $ in Thousands	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	May 31, 2022
Restructuring Reserve [Roll Forward]
Restructuring Charges	$ 517	$ 1,571	$ 5,086	$ 2,430
Industrial Tools & Services [Member] [Domain]
Restructuring Reserve [Roll Forward]
Beginning Balance			1,737	1,443
Restructuring Charges			2,818	2,166
Cash payments			(3,385)	(1,444)
Other non-cash uses of reserve			(800)	(100)
Impact of changes in foreign currency rates			(79)	49
Ending Balance	1,091	2,214	1,091	2,214	$ 1,091
General Corporate
Restructuring Reserve [Roll Forward]
Beginning Balance			26	267
Restructuring Charges			1,050	9
Cash payments			(1,069)	(250)
Other non-cash uses of reserve			(500)
Impact of changes in foreign currency rates			0	0
Ending Balance	7	26	7	26	7
Reportable Segments [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	600	1,500	5,200	2,200	$ 18,000
Other Operating Segment [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance			100
Restructuring Charges	$ (100)	$ 100	$ (100)	$ 300

Discontinued Operations & Oth_4

Discontinued Operations & Other Divestiture Charges Discontinued Operations & Divestiture Activities (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Oct. 31, 2019	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		$ 5,438	$ 20,867	$ 13,862	$ 31,531
Net (Loss) Earnings from Discontinued Operations		2,418	226	$ 3,715	852
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]				Note 5. Discontinued Operations On October 31, 2019, as part of our overall strategy to become a pure-play industrial tools and services company, the Company completed the sale of the businesses comprising its former Engineered Components & Systems ("EC&S") segment. This divestiture was considered part of our strategic shift to become a pure-play industrial tools and services company, and therefore, the results of operations are recorded as a component of "Loss from discontinued operations, net of income taxes" in the Condensed Consolidated Statements of Operations for all periods presented. A component of the purchase price was payable in four quarterly installments of which the final $0.7 million was received in the nine months ended May 31, 2021 (this final payment was received greater than one year from the divestiture date and, as such, is reflected in "Cash provided by financing activities - discontinued operations" within the Condensed Consolidated Statements of Cash Flows). All other discontinued operations activity included within the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Cash Flows for the periods presented relate to impacts from certain retained liabilities. The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands) : Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Selling, general and administrative expenses $ 2,944 $ 102 $ 4,605 $ 956 Operating loss (2,944) (102) (4,605) (956) Other loss, net — — — — Loss before income tax benefit (2,944) (102) (4,605) (956) Income tax expense (benefit) (526) 124 (890) (104) Loss from discontinued operations, net of income taxes $ (2,418) $ (226) $ (3,715) $ (852)
Engineered Components & Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Quarterly Installment Payments					700
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		(2,944)	(102)	$ (4,605)	(956)
Disposal Group, Including Discontinued Operation, Other Expense (Income), net		0	0	0	0
Disposal Group, Including Discontinued Operation, Loss Before Income Tax Benefit		2,944	102	4,605	956
Disposal Group, Including Discontinued Operation, General and Administrative Expense		2,944	102	4,605	956
Disposal Group, Including Discontinued Operation, Income Tax (Benefit) Expense		(526)	124	(890)	(104)
Net (Loss) Earnings from Discontinued Operations		$ (2,418)	$ (226)	$ (3,715)	$ (852)
Engineered Components & Systems [Member] [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date	Oct. 31, 2019

Discontinued Operations & Oth_5

Discontinued Operations & Other Divestiture Charges Other Divestiture Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Impairment & divestiture (benefits) charges	$ 0	$ 0	$ 1,116	$ 539

Discontinued Operations & Oth_6

Discontinued Operations & Other Divestiture Charges Divestitures Activities Discontinued Operations - Loss From Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net (Loss) Earnings from Discontinued Operations	$ 2,418	$ 226	$ 3,715	$ 852
Engineered Components & Systems [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Operating (Loss) Earnings	(2,944)	(102)	(4,605)	(956)
Disposal Group, Including Discontinued Operation, Other Expense	0	0	0	0
Disposal Group, Including Discontinued Operation, (Loss) Earnings Before Income Tax Benefit	(2,944)	(102)	(4,605)	(956)
Disposal Group, Including Discontinued Operation, Income Tax (Benefit) Expense	(526)	124	(890)	(104)
Net (Loss) Earnings from Discontinued Operations	$ (2,418)	$ (226)	$ (3,715)	$ (852)

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	May 31, 2022 USD ($)
Goodwill [Roll Forward]
Ending balance	$ 277,593
Impact of changes in foreign currency rates	(10,394)
Ending balance	267,199
Industrial Tools & Services [Member] [Domain]
Goodwill [Roll Forward]
Ending balance	265,087
Impact of changes in foreign currency rates	(10,394)
Ending balance	254,693
Other Operating Segment [Member]
Goodwill [Roll Forward]
Ending balance	12,506
Impact of changes in foreign currency rates	0
Ending balance	$ 12,506

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	Aug. 31, 2021
Indefinite And Finite Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 133,577	$ 130,542
Gross Carrying Value	178,740	185,087
Net Book Value	45,163	54,545
Tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	23,276	24,835
Accumulated Amortization	0	0
Net Book Value	$ 23,276	24,835
Customer relationships
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	14 years
Gross Carrying Value	$ 138,234	142,453
Accumulated Amortization	117,850	114,463
Net Book Value	$ 20,384	27,990
Patents
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	11 years
Gross Carrying Value	$ 14,026	14,492
Accumulated Amortization	13,353	13,688
Net Book Value	$ 673	804
Trademarks and tradenames
Indefinite And Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	12 years
Gross Carrying Value	$ 3,204	3,307
Accumulated Amortization	2,374	2,391
Net Book Value	$ 830	$ 916

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Impaired Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 5,400		$ 5,400
Future Amortization Expense, 2025	4,200		4,200
Future Amortization Expense, 2024	1,800		1,800
Future Amortization Expense, 2023	1,900		1,900
Future Amortization Expense, 2022	3,100		3,100
Future Amortization Expense, 2021	3,800		3,800
Impairment & divestiture (benefits) charges	0	$ 0	1,116	$ 539
Future Amortization Expense, Remainder of 2020	1,700		1,700
Future Amortization Expense, 2021	3,800		3,800
Future Amortization Expense, 2022	3,100		3,100
Future Amortization Expense, 2023	1,900		1,900
Future Amortization Expense, 2024	1,800		1,800
Future Amortization Expense, 2025	$ 4,200		4,200
Tradenames
Impaired Assets [Line Items]
Impairment & divestiture (benefits) charges			300
Customer relationships
Impaired Assets [Line Items]
Impairment & divestiture (benefits) charges			$ 800

Rollforward of Accrued Product

Rollforward of Accrued Product Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 1,300	$ 892
Provision for warranties	727	1,151
Warranty Payments and costs incurred	(629)	(893)
Impact of changes in foreign currency rates	(81)	30
Ending balance	$ 1,317	$ 1,180

Long-Term Indebtedness (Details

Long-Term Indebtedness (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Debt Instrument [Line Items]
Long-term debt, net	$ 205,000	$ 175,000
Line of Credit \| Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Long-term Debt	$ 205,000	$ 175,000

Debt - Additional Information (

Debt - Additional Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
Debt - Additional Information (Details) $ in Thousands	May 31, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2021 USD ($)	Aug. 31, 2021 USD ($)	Feb. 28, 2021 USD ($)
Debt Instrument [Line Items]
Borrowings on Revolving Credit		$ 45,000	$ 10,000
Outstanding letters of credit	$ 10,800	10,800		$ 11,900
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	400,000	400,000			$ 300,000
Outstanding letters of credit	5,200	5,200
Senior Credit Facility - Term Loan
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200,000	200,000
Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Borrowings on Revolving Credit		205,000
Line of Credit \| Senior Credit Facility - Revolver
Debt Instrument [Line Items]
Unused credit line Available for Borrowing, Amount	$ 189,800	$ 189,800
Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Fixed Charge Coverage Ratio	3.5	3.5
Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Minimum \| Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1%
Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%
Leverage ratio	3.75	3.75
Adjusted Leverage Ratio	4.25	4.25
Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2%
Maximum \| Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.125%
Accordion [Domain]
Debt Instrument [Line Items]
Senior credit facility expansion option, available	$ 300,000	$ 300,000
Incremental Term Loan [Domain]
Debt Instrument [Line Items]
Senior credit facility expansion option, available	$ 200,000	$ 200,000

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($) $ in Millions	May 31, 2022	Aug. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ (0.1)	$ (0.1)

Derivatives Narrative (Details)

Derivatives Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Derivatives Narrative (Details) - USD ($) $ in Thousands	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021
Derivative [Line Items]
Foreign Currency Contract, Liability/Asset, Fair Value Disclosure	$ (100)		$ (100)		$ (100)
Loss on Foreign Currency Fair Value Hedge Derivatives and Not Designated as Hedging Instruments at Fair Value	(196)	$ 7	(324)	$ 67
London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months		$ 100		$ 100
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, Fair Value, Net	$ 15,200		$ 15,200		16,000
Interest Rate Swap [Member] \| London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Derivative, Amount of Hedged Item					$ 100,000
Derivative, Fixed Interest Rate					0.259%

Earnings per Share and Shareh_2

Earnings per Share and Shareholders' Equity Share Repurchase (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended		126 Months Ended
	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	May 31, 2022	May 31, 2021	Feb. 28, 2022	Aug. 31, 2021	Aug. 31, 2020
Equity [Abstract]
Treasury Stock, Shares	24,554,305						24,554,305			22,799,230
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	8,244,925						8,244,925
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 366,272	$ 413,023	$ 409,806	$ 416,911	$ 381,393	$ 367,946	$ 366,272	$ 416,911	$ 413,023	$ 412,198	$ 359,226
Net (loss) earnings	1,643	1,221	2,788	25,031	3,182	4,598	5,652	32,811
Other Comprehensive (Loss) Income, Net of Tax	(16,030)	1,744	(10,044)	6,538	9,157	1,629	(24,330)	$ 17,324
Stock Issued During Period, Value, Employee Benefit Plan	66	65	85	97	81	101
Stock Issued During Period, Value, Restricted Stock Award, Gross		0	0	0	0	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,828	2,142	6,147	2,157	2,647	2,581
Stock Issued During Period, Value, Stock Options Exercised				2,026
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	40	$ 25	$ 25	$ 25	$ 86	$ 86
Retained earnings	958,991						958,991			953,339
Treasury Stock, Value	$ 704,027						$ 704,027			$ 667,732
Treasury Stock, Value, Acquired, Cost Method									$ 704,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	8,244,925						8,244,925
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	10,000,000						10,000,000
Stock Repurchased During Period, Shares	1,755,075
Stock Repurchased During Period, Value	$ 36,300
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	83,350,000	83,345,000	83,092,000	82,991,000	82,879,000	82,625,000	83,350,000	82,991,000	83,345,000	83,022,000	82,594,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 16,670	$ 16,669	$ 16,622	$ 16,598	$ 16,576	$ 16,525	$ 16,670	$ 16,598	$ 16,669	$ 16,604	$ 16,519
Stock Issued During Period, Shares, Employee Benefit Plan	4,000	5,000	2,000	5,000	4,000	6,000
Stock Issued During Period, Value, Employee Benefit Plan	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1
Stock Issued During Period, Shares, Restricted Stock Award, Gross		247,000	67,000	17,000	235,000	20,000
Stock Issued During Period, Value, Restricted Stock Award, Gross		$ 46	$ 17	$ 3	$ 47	$ 4
Stock Issued During Period, Shares, Other				89,000
Stock Issued During Period, Value, Stock Options Exercised				$ 18
Stock Issued To Acquired For And Distributed From Rabbi Trust		1,000	1,000	1,000	15,000	5,000
Stock Value Issued to Acquired For and Distributed From Rabbi Trust			$ 0		$ 3	$ 1
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	211,952	$ 208,022	207,817	$ 200,963	197,036	195,979	211,952	200,963	208,022	202,971	193,492
Stock Issued During Period, Value, Employee Benefit Plan	65	64	84	96	80	100
Stock Issued During Period, Value, Restricted Stock Award, Gross		(46)	(17)	(3)	(47)	(4)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,828	2,142	6,147	2,157	2,647	2,581
Stock Issued During Period, Value, Stock Options Exercised				2,008
Adjustments to Additional Paid in Capital, Other	3	1,980	1,393	356	1,706	275
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	40	25	25	25	83	85
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(704,027)	(667,732)	(667,732)	(667,732)	(667,732)	(667,732)	(704,027)	(667,732)	(667,732)	(667,732)	(667,732)
Treasury Stock, Value, Acquired, Cost Method	(36,295)
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	958,991	957,348	956,127	950,482	925,451	922,269	958,991	950,482	957,348	953,339	917,671
Net (loss) earnings	1,643	1,221	2,788	25,031	3,182	4,598
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(117,314)	(101,284)	(103,028)	(83,400)	(89,938)	(99,095)	(117,314)	(83,400)	(101,284)	(92,984)	(100,724)
Other Comprehensive (Loss) Income, Net of Tax	(16,030)	1,744	(10,044)	6,538	9,157	1,629
Stock held in trust [member] [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(3,148)	(3,089)	(3,092)	(2,999)	(2,996)	(2,643)	(3,148)	(2,999)	(3,089)	(3,067)	(2,562)
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	(59)	3	(25)	(3)	(353)	(81)
Deferred Compensation, Share-based Payments [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,148	3,089	3,092	2,999	2,996	2,643	$ 3,148	$ 2,999	$ 3,089	$ 3,067	$ 2,562
Stock Value Issued to Acquired For and Distributed From Rabbi Trust	$ 59	$ (3)	$ 25	$ 3	$ 353	$ 81

Capital Stock (Details)

Capital Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	May 31, 2022	May 31, 2021
Earnings Per Share [Abstract]
Net (Loss) Earnings from Continuing Operations	$ 4,061			$ 25,257			$ 9,367	$ 33,663
Net (Loss) Earnings from Discontinued Operations	(2,418)			(226)			(3,715)	(852)
Net (loss) earnings	$ 1,643	$ 1,221	$ 2,788	$ 25,031	$ 3,182	$ 4,598	$ 5,652	$ 32,811
Weighted average common shares outstanding - basic	60,227			60,144			60,292	59,964
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	383			430			348	348
Weighted Average Common Shares outstanding - diluted	60,610			60,574			60,640	60,312
(Loss) Earnings per share from Continuing Operations, Per Basic Share	$ 0.07			$ 0.42			$ 0.16	$ 0.56
(Loss) Earnings per share from Continuing Operations, Per Diluted Share	0.07			0.42			0.15	0.56
(Loss) Earnings per share from Discontinued Operations, Per Basic Shares	(0.04)			0			(0.06)	(0.01)
(Loss) Earnings per share from Discontinued Operations, Per Diluted Share	(0.04)			0			(0.06)	(0.01)
Earnings Per Share, Basic	0.03			0.42			0.09	0.55
(Loss) Earnings Per Share, Diluted	$ 0.03			$ 0.41			$ 0.09	$ 0.54
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities from stock based compensation plans (excluded from earnings per share calculation)	951			548			945	990

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Tax Disclosure Additional Details [Table] [Line Items]
Income tax (benefit) expense	$ 1,377	$ (4,390)	$ 4,495	$ (2,132)
Effective Income Tax Rate Reconciliation, Percent	25.30%	(21.00%)	32.40%	(6.80%)
Federal Statutory Income Tax Rate, Percent			21%

Summary of Financial Informatio

Summary of Financial Information by Reportable Segment and Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021
Segment Reporting Information [Line Items]
Net Sales	$ 151,894	$ 143,149	$ 419,395	$ 383,233
Operating Profit (Loss)	6,643	22,747	17,534	37,524
Assets	797,299		797,299		$ 820,247
Industrial Tools & Services [Member] [Domain]
Segment Reporting Information [Line Items]
Net Sales	140,395	133,400	387,647	358,314
Operating Profit (Loss)	19,226	23,812	49,872	54,826
Assets	641,199		641,199		641,256
Products [Member]
Segment Reporting Information [Line Items]
Net Sales	109,915	102,224	299,761	271,992
Service & Rental [Member]
Segment Reporting Information [Line Items]
Net Sales	30,480	31,176	87,886	86,322
Other Operating Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	11,499	9,749	31,748	24,919
Operating Profit (Loss)	1,096	(65)	173	(3,747)
Assets	49,626		49,626		52,745
General Corporate
Segment Reporting Information [Line Items]
Operating Profit (Loss)	(13,679)	$ (1,000)	(32,511)	$ (13,555)
Assets	$ 106,474		$ 106,474		$ 126,246

Contingencies and Litigation -

Contingencies and Litigation - Additional Information (Details) - USD ($) $ in Millions	May 31, 2022	Aug. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 10.8	$ 11.9
Contractual Obligation, Future Minimum Payments Due, Remainder of Lease Payments	$ 4.1

Leases Components of Lease Ex_2

Leases Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Components of Lease Expense [Abstract]
Operating Lease, Cost	$ 3,540	$ 3,861	$ 10,962	$ 11,333
Short-term Lease, Cost	391	431	1,241	1,241
Variable Lease, Cost	$ 843	$ 803	$ 2,857	$ 2,550

Leases Supplemental Cash Flow_2

Leases Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Supplemental Cash Flow Information Related to Leases [Abstract]
Operating Lease, Payments	$ 10,691	$ 11,336
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 4,101	$ 5,468

Leases Leases (Details)

Leases Leases (Details) - USD ($) $ in Millions	3 Months Ended
Leases Leases (Details) - USD ($) $ in Millions	May 31, 2022	May 31, 2021
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Sale and Leaseback Transaction, Gain (Loss), Net		$ 5.4
Sale and Leaseback Transaction Gain Loss Gross		$ 10
Sale Leaseback Transaction, Transaction Costs	$ 4.6
Minimum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	3 years
Maximum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	15 years

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Jun. 27, 2022	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Subsequent Event [Line Items]
Restructuring Charges		$ 517	$ 1,571	$ 5,086	$ 2,430
Subsequent Event [Member] \| Minimum
Subsequent Event [Line Items]
Restructuring Charges	$ 6,000
Subsequent Event [Member] \| Maximum
Subsequent Event [Line Items]
Restructuring Charges	$ 10,000

Uncategorized Items - epac-2022

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 152,170,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 140,352,000