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CHANGES IN BUSINESS (Tables)
 12 Months Ended
Aug. 31, 2018
Business Combinations [Abstract]  
Financial information for discontinued operations
The major classes of line items constituting earnings (loss) from discontinued operations in the consolidated statements of earnings are presented in the table below.
 
 
Year Ended August 31,
(in thousands)
 
2018
 
2017
 
2016
Net sales
 
$
304,650

 
$
1,155,046

 
$
1,055,872

Costs and expenses:
 
 
 
 
 
 
Cost of goods sold
 
276,184

 
1,089,837

 
991,076

Selling, general and administrative expenses
 
25,317

 
75,153

 
74,274

Interest expense
 
(86
)
 
(104
)
 
(742
)
Earnings (loss) before income taxes
 
3,235

 
(9,840
)
 
(8,736
)
Income taxes (benefit)
 
(34
)
 
(5,997
)
 
(1,497
)
Earnings (loss) from discontinued operations
 
$
3,269

 
$
(3,843
)
 
$
(7,239
)
Components of assets and liabilities of businesses held for sale
As a result of the exit of the International Marketing and Distribution segment and the sale of the Company's structural steel fabrication operations, the assets and liabilities related to such operations have been classified as assets and liabilities of businesses held for sale and discontinued operations at August 31, 2017 on the Company’s consolidated balance sheet, and consisted of the following:
 
 
Year Ended August 31, 2017
(in thousands)
 
Businesses Held for Sale*
 
Discontinued Operations
 
Total
Assets:
 
 
 
 
 
 
Accounts receivable
 
$
38,279

 
$
106,905

 
$
145,184

Inventories
 
10,676

 
141,135

 
151,811

Other current assets
 
77

 
38

 
115

Assets of businesses held for sale and discontinued operations
 
49,032

 
248,078

 
297,110

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Accounts payable-trade
 
$
13,108

 
$
42,563

 
$
55,671

Accrued expenses and other payables
 
16,785

 
15,372

 
32,157

Liabilities of businesses held for sale and discontinued operations
 
$
29,893

 
$
57,935

 
$
87,828

* At August 31, 2017, $8.8 million of property, plant, and equipment, net of accumulated depreciation and amortization, was included in other noncurrent assets on the consolidated balance sheets.