Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges (Tables)

v3.20.1
Restructuring Charges (Tables)
6 Months Ended
Feb. 29, 2020
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]
The following summarizes restructuring reserve activity for the IT&S reportable segment and corporate (in thousands):
 
 
Six Months Ended February 29, 2020
 
 
Industrial Tools & Services
 
Corporate
Balance as of August 31, 2019
 
$
2,912

 
$

Restructuring charges
 
2,189

 
939

Cash payments
 
(2,693
)
 
(628
)
Other non-cash uses of reserve
 
(406
)
 
(302
)
Impact of changes in foreign currency rates
 
(4
)
 

Balance as of February 29, 2020
 
$
1,998

 
$
9

 
 
Six Months Ended February 28, 2019
 
 
Industrial Tools & Services
 
Corporate
Balance as of August 31, 2018
 
$
1,687

 
$
46

Restructuring charges
 
20

 

Cash payments
 
(1,115
)
 
(46
)
Other non-cash uses of reserve
 
(12
)
 

Impact of changes in foreign currency rates
 
(18
)
 

Balance as of February 28, 2019
 
$
562

 
$

The three and six months ended February 29, 2020 included $0.3 million and $0.8 million of restructuring expenses related to Cortland U.S. (Other segment), respectively. Restructuring reserves for Cortland U.S. were $0.6 million and $1.9 million as of February 29, 2020 and August 31, 2019, respectively. There were inconsequential restructuring charges recorded within the Other segment associated with the legacy restructuring initiatives in the three and six months ended February 28, 2019.