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Divestitures and Held-For-Sale
3 Months Ended
Nov. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Divestitures and Held-For-Sale

Note 3 – Divestitures and Held-For-Sale

 

The Company completed the divestiture of its Company-owned irrigation dealership during the first quarter of fiscal 2019 and recorded a loss on sale of $0.1 million included in general and administrative expense on the condensed consolidated statement of earnings for the three months ended November 30, 2018.  The Company received a note of $5.8 million as proceeds for this sale. This is included as a noncash investing activity on the condensed consolidated statement of cash flows for the three months ended November 30, 2018.

 

Additionally, during the fourth quarter of fiscal 2018, the Company closed one of its infrastructure manufacturing facilities in North America and consolidated its operations with an irrigation manufacturing facility.  The building related to the closure is currently listed for sale and is included within the caption “Assets held-for-sale” for $2.7 million in the condensed consolidated balance sheet as of November 30, 2019, November 30, 2018 and August 31, 2019.