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CHANGES IN BUSINESS
 3 Months Ended
Nov. 30, 2018
Business Combinations [Abstract]  
Changes in Business
NOTE 3. CHANGES IN BUSINESS

During fiscal 2018, the Company completed the exit of its trading operations in the U.S., Asia, and Australia. The results of these activities are included in discontinued operations in the unaudited condensed consolidated statements of earnings for all periods presented. The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings are presented in the table below.

(in thousands)
 
Three Months Ended November 30, 2017
Net sales
 
$
162,111

Costs and expenses:
 
 
Cost of goods sold
 
141,451

Selling, general and administrative expenses
 
12,626

Interest expense
 
(86
)
Earnings before income taxes
 
8,120

Income taxes
 
3,181

Earnings from discontinued operations
 
$
4,939



Results for discontinued operations were immaterial for the three months ended November 30, 2018. There were no material operating or investing non-cash items for discontinued operations for the three months ended November 30, 2018 and 2017.

The assets and liabilities of the businesses classified as held for sale and discontinued operations were immaterial at both November 30, 2018 and August 31, 2018.