CHANGES IN BUSINESS

6 Months Ended

Feb. 28, 2019

NOTE 3. CHANGES IN BUSINESS

During fiscal 2018, the Company completed the exit of its trading operations in the U.S., Asia, and Australia. The results of these activities are included in discontinued operations in the unaudited condensed consolidated statements of earnings for all periods presented. The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings are presented in the table below.



	Three Months Ended February 28,			Six Months Ended February 28,
(in thousands)	2018			2018
Net sales	$	139,011		$	301,122
Costs and expenses:
Cost of goods sold	130,687			272,138
Selling, general and administrative expenses	8,034			20,660
Interest expense	—			(86		)
Earnings before income taxes	290			8,410
Income taxes	(98		)	3,082
Earnings from discontinued operations	$	388		$	5,328

There were no material operating or investing non-cash items for discontinued operations for the three and six months ended February 28, 2019 and 2018.

The assets and liabilities of the businesses classified as held for sale and discontinued operations were immaterial at both February 28, 2019 and August 31, 2018.