Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation Basis of Presentation (Policies)

Basis of Presentation Basis of Presentation (Policies)
3 Months Ended
Nov. 30, 2021
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):
November 30, 2021 August 31, 2021
Foreign currency translation adjustments $ 80,366  $ 69,986 
Pension and other postretirement benefit plans, net of tax 22,662  22,998 
Accumulated other comprehensive loss $ 103,028  $ 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):
November 30, 2021 August 31, 2021
Land, buildings and improvements $ 16,488  $ 16,617 
Machinery and equipment 145,458  145,541 
Gross property, plant and equipment 161,946  162,158 
Less: Accumulated depreciation (114,214) (113,568)
Property, plant and equipment, net $ 47,732  $ 48,590