XML 61 R10.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Inventories | 3 Months Ended
--- | ---
May 31, 2012
Inventories [Abstract] |
Inventories | (5) Inventories Inventories are stated at the lower of cost or market. Cost is determined by the last‑in, first‑out (LIFO) method for the Company’s Lindsay, Nebraska inventory and its two warehouses in Idaho and Texas. Cost is determined by the first-in, first-out (FIFO) method for inventory at the Company’s Omaha, Nebraska warehouse, and at operating locations in California, Wisconsin, China and Australia. Cost is determined by the weighted average cost method for inventory at the Company’s other operating locations in Washington State, France, Brazil, Italy, and South Africa. The Company reserves for obsolete, slow moving, and excess inventory by estimating the net realizable value based on potential future use of such inventory.
|  | May 31, |  | May 31, |  | August 31, |
$ in thousands |  | 2012 |  | 2011 |  | 2011 |
Inventory: |  |  |  |  |  |  |  |  |  |
FIFO inventory |  | $ | 29,296 |  | $ | 25,720 |  | $ | 22,614 |
LIFO reserves |  |  | (6,996) |  |  | (6,874) |  |  | (7,178) |
LIFO inventory |  |  | 22,300 |  |  | 18,846 |  |  | 15,436 |
Weighted average inventory |  |  | 21,465 |  |  | 21,743 |  |  | 20,848 |
Other FIFO inventory |  |  | 20,359 |  |  | 14,434 |  |  | 15,407 |
Obsolescence reserve |  |  | (2,005) |  |  | (2,190) |  |  | (2,167) |
Total inventories |  | $ | 62,119 |  | $ | 52,833 |  | $ | 49,524 |
The estimated percentage distribution between major classes of inventory before reserves is as follows:
|  | May 31, |  | May 31, |  | August 31, |
|  | 2012 |  | 2011 |  | 2011 |
Raw materials |  |  | 15% |  |  | 14% |  |  | 14% |
Work in process |  |  | 9% |  |  | 9% |  |  | 8% |
Finished goods and purchased parts |  |  | 76% |  |  | 77% |  |  | 78% |

X
- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section A -Paragraph 9 -Chapter 3 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_InventoryNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration