Inventories

6 Months Ended

Feb. 28, 2023

Inventory Disclosure [Abstract]

Inventories

Note 3 – Inventories

Inventories are valued at the lower of cost or net realizable value using the first-in first-out method. Work-in-process includes material, labor and overhead. Finished goods includes completed wheels, parts and railcars not on lease or in transit. The following table summarizes the Company’s inventory balance:

(in millions)	February 28, 2023			August 31, 2022
Manufacturing supplies and raw materials	$	686.7		$	570.2
Work-in-process		140.3			183.3
Finished goods		99.2			75.9
Excess and obsolete adjustment		(15.6	)		(14.1	)
	$	910.6		$	815.3