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Income Taxes	3 Months Ended
Nov. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 – Income Taxes The Company recorded income tax benefit of $0.2 million for the three months ended November 30, 2020 and income tax expense of $2.9 million for the three months ended November 30, 2019. It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. The estimated annual effective income tax rate was 23.8 percent and 25.8 percent for the three months ended November 30, 2020 and 2019, respectively. The decrease in the estimated annual effective income tax rate from November 2019 to November 2020 relates primarily to the change in earnings mix among foreign operations. The tax effects of significant or unusual items are not considered in the estimated annual effective income tax rate. The tax effects of such discrete events are recognized in the interim period in which the events occur. The Company recorded discrete items resulting in an income tax benefit of $1.8 million for the three months ended November 30, 2020, which included a benefit of $1.7 million related to the release of a valuation allowance primarily related to net operating loss carryforwards in a foreign jurisdiction that are now expected be realizable. The tax effects of discrete items did not have a significant impact on income tax expense for the three months ended November 30, 2019.

Income Taxes

3 Months Ended

Nov. 30, 2020

Note 4 – Income Taxes

The Company recorded income tax benefit of $0.2 million for the three months ended November 30, 2020 and income tax expense of $2.9 million for the three months ended November 30, 2019.

It is the Company’s policy to report income tax expense for interim periods using an estimated annual effective income tax rate. The estimated annual effective income tax rate was 23.8 percent and 25.8 percent for the three months ended November 30, 2020 and 2019, respectively. The decrease in the estimated annual effective income tax rate from November 2019 to November 2020 relates primarily to the change in earnings mix among foreign operations.

The tax effects of significant or unusual items are not considered in the estimated annual effective income tax rate. The tax effects of such discrete events are recognized in the interim period in which the events occur. The Company recorded discrete items resulting in an income tax benefit of $1.8 million for the three months ended November 30, 2020, which included a benefit of $1.7 million related to the release of a valuation allowance primarily related to net operating loss carryforwards in a foreign jurisdiction that are now expected be realizable. The tax effects of discrete items did not have a significant impact on income tax expense for the three months ended November 30, 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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