Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges (Tables)

v3.19.3.a.u2
Restructuring Charges (Tables)
 3 Months Ended
Nov. 30, 2019
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]
The following rollforwards summarize restructuring reserve activity for the IT&S reportable segment and corporate (in thousands):
 
 
Three Months Ended November 30, 2018
 
 
Industrial Tools & Services
 
Corporate
 
Total
Balance as of August 31, 2018
 
$
1,687

 
$
46

 
$
1,733

Restructuring charges
 
(29
)
(1) 
—

 
(29
)
Cash payments
 
(922
)
 
(46
)
 
(968
)
Other non-cash uses of reserve
 
(13
)
 
—

 
(13
)
Impact of changes in foreign currency rates
 
(21
)
 
—

 
(21
)
Balance as of November 30, 2018
 
$
702

 
$
—

 
$
702

 
 
Three Months Ended November 30, 2019
 
 
Industrial Tools & Services
 
Corporate
 
Total
Balance as of August 31, 2019
 
$
2,912

 
$
—

 
$
2,912

Restructuring charges
 
1,230

 
235

 
1,465

Cash payments
 
(1,851
)
 
(1
)
 
(1,852
)
Other non-cash uses of reserve
 
(39
)
 
(226
)
 
(265
)
Impact of changes in foreign currency rates
 
2

 
—

 
2

Balance as of November 30, 2019
 
$
2,254

 
$
8

 
$
2,262

(1) Benefit relates to reversal of restructuring accrual due to the underspend of estimated restructuring costs.
The three months ended November 30, 2019 included $0.5 million of restructuring expenses related to Cortland U.S. (Other Segment). Restructuring reserves for Cortland U.S. were $1.3 million and $0.9 million as of November 30, 2019 and August 31, 2019, respectively.