Guarantor Subsidiaries (Tables)

3 Months Ended

Nov. 30, 2012

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME

(In thousands)


	Three Months Ended November 30, 2012
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	45,838		$	124,117		$	207,293		$	—		$	377,248
Cost of products sold		12,408			87,868			129,986			—			230,262

Gross profit		33,430			36,249			77,307			—			146,986
Selling, administrative and engineering expenses		17,453			25,040			45,337			—			87,830
Amortization of intangible assets		321			3,449			4,084			—			7,854

Operating profit		15,656			7,760			27,886			—			51,302
Financing costs, net		6,358			5			(41	)		—			6,322
Intercompany expense (income), net		(7,270	)		1,955			5,315			—			—
Other expense (income), net		(364	)		(316	)		1,044			—			364

Earnings before income tax expense		16,932			6,116			21,568			—			44,616
Income tax expense		3,140			1,134			3,999			—			8,273

Net earnings before equity in earnings of subsidiaries		13,792			4,982			17,569			—			36,343
Equity in earnings of subsidiaries		22,551			17,899			1,024			(41,474	)		—

Net earnings	$	36,343		$	22,881		$	18,593		$	(41,474	)	$	36,343


Comprehensive income	$	48,518		$	28,858		$	26,019		$	(54,877	)	$	48,518


	Three Months Ended November 30, 2011
	Parent			Guarantors		Non-Guarantors			Eliminations			Consolidated
Net sales	$	48,520		$	136,441	$	207,838		$	—		$	392,799
Cost of products sold		15,279			94,632		130,280			—			240,191

Gross profit		33,241			41,809		77,558			—			152,608
Selling, administrative and engineering expenses		20,666			26,262		41,181			—			88,109
Amortization of intangible assets		335			3,420		3,463			—			7,218

Operating profit		12,240			12,127		32,914			—			57,281
Financing costs, net		8,237			3		(18	)		—			8,222
Intercompany expense (income), net		(7,491	)		566		6,925			—			—
Other expense, net		193			344		120			—			657

Earnings before income tax expense		11,301			11,214		25,887			—			48,402
Income tax expense		2,622			2,601		6,005			—			11,228

Net earnings before equity in earnings of subsidiaries		8,679			8,613		19,882			—			37,174
Equity in earnings (loss) of subsidiaries		28,495			16,794		(488	)		(44,801	)		—

Net earnings	$	37,174		$	25,407	$	19,394		$	(44,801	)	$	37,174


Comprehensive income	$	4,788		$	8,339	$	11,321		$	(19,660	)	$	4,788

CONDENSED CONSOLIDATING BALANCE SHEETS

(In thousands)


	November 30, 2012
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets	$	73,934	$	152,380	$	352,254	$	—		$	578,568
Property, plant & equipment, net		6,890		31,077		79,792		—			117,759
Goodwill		62,543		432,464		376,691		—			871,698
Other intangibles, net		14,201		202,745		223,242		—			440,188
Investment in subsidiaries		1,919,244		265,560		92,319		(2,277,123	)		—
Intercompany receivable		—		425,309		301,844		(727,153	)		—
Other long-term assets		11,835		22		5,386		—			17,243

Total assets	$	2,088,647	$	1,509,557	$	1,431,528	$	(3,004,276	)	$	2,025,456

LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities	$	61,673	$	54,539	$	173,635	$	—		$	289,847
Long-term debt		387,500		—		—		—			387,500
Deferred income taxes		88,353		—		41,598		—			129,951
Pension and post-retirement benefit liabilities		22,253		—		3,980		—			26,233
Other long-term liabilities		62,308		525		27,094		—			89,927
Intercompany payable		364,562		—		362,591		(727,153	)		—
Shareholders’ equity		1,101,998		1,454,493		822,630		(2,277,123	)		1,101,998

Total liabilities and shareholders’ equity	$	2,088,647	$	1,509,557	$	1,431,528	$	(3,004,276	)	$	2,025,456


	August 31, 2012
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS
Current assets	$	88,559	$	151,168	$	321,554	$	—		$	561,281
Property, plant & equipment, net		6,944		31,818		77,122		—			115,884
Goodwill		62,543		433,193		370,676		—			866,412
Other intangibles, net		14,522		206,194		225,168		—			445,884
Investment in subsidiaries		1,886,478		250,738		90,770		(2,227,986	)		—
Intercompany receivable		—		418,253		307,282		(725,535	)		—
Other long-term assets		12,297		22		5,339		—			17,658

Total assets	$	2,071,343	$	1,491,386	$	1,397,911	$	(2,953,521	)	$	2,007,119

LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities	$	76,686	$	63,105	$	179,215	$	—		$	319,006
Long-term debt		390,000		—		—		—			390,000
Deferred income taxes		91,604		—		41,049		—			132,653
Pension and post-retirement benefit liabilities		22,500		—		3,942		—			26,442
Other long-term liabilities		59,929		620		26,633		—			87,182
Intercompany payable		378,788		—		346,747		(725,535	)		—
Shareholders’ equity		1,051,836		1,427,661		800,325		(2,227,986	)		1,051,836

Total liabilities and shareholders’ equity	$	2,071,343	$	1,491,386	$	1,397,911	$	(2,953,521	)	$	2,007,119

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In thousands)


	Three Months Ended November 30, 2012
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(658	)	$	4,779		$	8,154		$	—	$	12,275
Investing Activities
Proceeds from sale of property, plant and equipment		571			14			392			—		977
Capital expenditures		(399	)		(1,291	)		(5,999	)		—		(7,689	)
Business acquisitions, net of cash acquired		—			—			(83	)		—		(83	)

Cash provided by (used in) investing activities		172			(1,277	)		(5,690	)		—		(6,795	)
Financing Activities
Principal repayment of term loans		(1,250	)		—			—			—		(1,250	)
Intercompany loan activity		(4,991	)		(3,593	)		8,584			—		—
Purchase of treasury shares		(7,142	)		—			—			—		(7,142	)
Stock option exercises, related tax benefits and other		5,473			—			—			—		5,473
Cash dividend		(2,911	)		—			—			—		(2,911	)

Cash provided by (used in) financing activities		(10,821	)		(3,593	)		8,584			—		(5,830	)
Effect of exchange rate changes on cash		—			—			477			—		477

Net increase (decrease) in cash and cash equivalents		(11,307	)		(91	)		11,525			—		127
Cash and cash equivalents—beginning of period		12,401			91			55,692			—		68,184

Cash and cash equivalents—end of period	$	1,094		$	—		$	67,217		$	—	$	68,311

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In thousands)


	Three Months Ended November 30, 2011
	Parent			Guarantors			Non-Guarantors			Eliminations		Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(10,089	)	$	7,121		$	23,443		$	—	$	20,475
Investing Activities
Proceeds from sale of property, plant and equipment		—			68			5,850			—		5,918
Capital expenditures		(2,206	)		(571	)		(2,818	)		—		(5,595	)
Business acquistitions, net of cash acquired		(290	)		—			—			—		(290	)

Cash (used in) provided by investing activities		(2,496	)		(503	)		3,032			—		33
Financing Activities
Net borrowings on revolver and other debt		4,700			—			109			—		4,809
Intercompany loan activity		28,060			(6,618	)		(21,442	)		—		—
Purchase of treasury shares		(20,410	)		—			—			—		(20,410	)
Stock option exercises and related tax benefits		2,782			—			—			—		2,782
Cash dividend		(2,748	)		—			—			—		(2,748	)

Cash (used in) provided by financing activities		12,384			(6,618	)		(21,333	)		—		(15,567	)
Effect of exchange rate changes on cash		—			—			(1,043	)		—		(1,043	)

Net (decrease) increase in cash and cash equivalents		(201	)		—			4,099			—		3,898
Cash and cash equivalents—beginning of period		872			—			43,349			—		44,221

Cash and cash equivalents—end of period	$	671		$	—		$	47,448		$	—	$	48,119