Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Aug. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impairment Charge [Table Text Block]

A summary of the fiscal 2016 impairment charge by reporting unit is as follows (in thousands):

	Cortland		Viking		maximatecc		Total
Goodwill	$	34,502	$	39,099	$	44,521	$	118,122
Indefinite lived intangible assets	2,211		13,289		1,153		16,653
Amortizable intangible assets	—		27,952		—		27,952
Fixed assets	—		23,784		—		23,784
	$	36,713	$	104,124	$	45,674	$	186,511

Fiscal 2015 Impairment Charge

The dramatic decline in oil prices in 2015 caused a slowdown in upstream oil & gas activity as asset owners hesitated on starting new oil & gas exploration drilling and development projects, while certain existing projects were deferred or canceled and capital spending was reduced.  As a result of these unfavorable market conditions, in fiscal 2015 the Company recognized an $84.4 million impairment charge related to the write-down of goodwill and indefinite lived intangible assets of the Cortland and Viking businesses. The impairment charge consisted of a $78.5 million impairment of goodwill and a $6.4 million impairment of indefinite lived intangible assets (tradenames).

Changes in Carrying Value of Goodwill

The changes in the carrying amount of goodwill for the years ended August 31, 2017 and 2016 are as follows (in thousands):

	Industrial			Energy			Engineered Solutions			Total
Balance as of August 31, 2015	$	92,107		$	236,450		$	279,699		$	608,256
Business acquisitions	9,726			36,241			—			45,967
Impairment charge	—			(73,919		)	(44,543		)	(118,462		)
Business divestiture (Sanlo)	—			—			(3,778		)	(3,778		)
Impact of changes in foreign currency rates	(94		)	(11,451		)	(1,162		)	(12,707		)
Balance as of August 31, 2016	101,739			187,321			230,216			519,276
Purchase accounting adjustments	(59		)	1,144			—			1,085
Impact of changes in foreign currency rates	$	2,195		$	365		$	7,160		$	9,720
Balance as of August 31, 2017	$	103,875		$	188,830		$	237,376		$	530,081

Gross Carrying Amount and Accumulated Amortization of Intangible Assets

The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows (in thousands):

	Weighted Average Amortization Period (Year)	August 31, 2017						August 31, 2016
		Gross		Accumulated Amortization		Net Book Value		Gross		Accumulated Amortization		Net Book Value
Amortizable intangible assets:
Customer relationships	15	$	263,498	$	153,003	$	110,495	$	292,671	$	166,252	$	126,419
Patents	10	30,401		24,027		6,374		30,296		22,233		8,063
Trademarks and tradenames	18	21,498		9,396		12,102		21,283		7,936		13,347
Non-compete agreements & other	3	6,672		6,234		438		6,627		5,890		737
Indefinite lived intangible assets:
Tradenames	N/A	91,080		—		91,080		90,909		—		90,909
		$	413,149	$	192,660	$	220,489	$	441,786	$	202,311	$	239,475