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Revenue Recognition (Tables)

3 Months Ended

Nov. 30, 2018

Disaggregation Of Revenue [Line Items]

Schedule of Disaggregation of Revenue by Segment

A breakout by segment of revenue recognized over time versus point in time for the three months ended November 30, 2018 is as follows:

($ in thousands)		Irrigation				Infrastructure				Total
Point in time		$	81,086			$	21,247			$	102,333
Over time			6,524				1,490				8,014
Revenue from the contracts with customers			87,610				22,737				110,347
Lease revenue			—				1,604				1,604
Total operating revenues		$	87,610			$	24,341			$	111,951

ASC Topic 606 [Member]

Disaggregation Of Revenue [Line Items]

Summary of Impacts of ASU on Condensed Consolidated Financial Statements

The cumulative effect of initially applying the new revenue standard under ASC Topic 606 was recorded as an adjustment to the opening balance of retained earnings, which impacted the condensed consolidated balance sheet as follows:

($ in thousands)		August 31, 2018				ASC Topic 606 Adjustments				September 1, 2018
Assets
Inventories, net		$	79,233			$	(942	)		$	78,291
Other current assets			7,204				1,651				8,855
Liabilities and Stockholders' Equity
Other current liabilities		$	46,935			$	14			$	46,949
Deferred income tax liabilities			1,083				163				1,246
Retained earnings			484,886				532				485,418

The adoption of ASC Topic 606 had the following impact on the condensed consolidated balance sheet and condensed consolidated statement of earnings for the three months ended November 30, 2018:

($ in thousands)		As Reported				ASC Topic 606 Adjustments				Balance without adoption of ASC Topic 606
Assets
Inventories, net		$	88,912			$	3,669			$	92,581
Other current assets			8,386				(1,059	)			7,327
Liabilities and Stockholders' Equity
Other current liabilities		$	41,480			$	5,489			$	46,969
Retained earnings			483,811				(2,879	)			480,932
Statement of Earnings
Operating revenues		$	111,951			$	(6,168	)		$	105,783
Operating income			2,040				(3,280	)			(1,240	)

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