Discontinued Operations & Other Divestiture Charges Statement of Operations (Tables)

3 Months Ended

Nov. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following represents the detail of "Loss from discontinued operations, net of income taxes" within the Condensed Consolidated Statements of Operations (in thousands):

	Three Months Ended November 30,
	2020		2019*
Net sales	$	—	$	67,010
Cost of products sold	—		49,749
Gross profit	—		17,261
Selling, administrative and engineering expenses	295		10,832
Amortization of intangible assets	—		—
Restructuring benefit	—		(11)
Impairment & divestiture charges	—		28,416
Operating loss	(295)		(21,976)
Financing costs, net	—		14
Other income	—		(104)
Loss before income tax benefit	(295)		(21,886)
Income tax benefit	(71)		(17,635)
Net loss from discontinued operations	$	(224)	$	(4,251)

* "Loss from discontinued operations, net of income taxes" for the three months ended November 30, 2019 presented in the table above includes the results of the EC&S segment for the two months ended October 31, 2019 (the divestiture date) as well as the ancillary impacts from certain retained liabilities subsequent to the divestiture. As a result of the classification of the segment as assets and liabilities held for sale for the two months ended October 31, 2019, the Company did not record amortization or depreciation expense in the results of operations in accordance with U.S. GAAP. Furthermore, the Company excluded EC&S segment employees from the fiscal 2020 bonus compensation plan, hence there are no expenses associated with the plan for that period.