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Retirement Plans (Tables) | 12 Months Ended
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Aug. 31, 2023
Retirement Benefits [Abstract] |
Schedule of Amounts Recognized in Balance Sheet | The funded status of the plan and the net amount recognized in the accompanying balance sheets as of August 31 is as follows:
|  | August 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Change in benefit obligation: |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 5,422 |  |  | $ | 6,284 |
Interest cost |  |  | 211 |  |  |  | 156 |
Actuarial gain |  |  | (191 | ) |  |  | (488 | )
Benefits paid |  |  | (530 | ) |  |  | (530 | )
Benefit obligation at end of year |  | $ | 4,912 |  |  | $ | 5,422 |
Schedule of Amounts Recognized in Statement of Financial Position | Amounts recorded in the consolidated balance sheets for the pension benefit obligation consist of:
|  | August 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Other current liabilities |  | $ | 530 |  |  | $ | 530 |
Other non-current liabilities |  |  | 4,382 |  |  |  | 4,892 |
Net amount recognized |  | $ | 4,912 |  |  | $ | 5,422 |
Schedule of Before-tax Amounts Recognized in Accumulated other Comprehensive Loss | The before-tax amounts recognized in accumulated other comprehensive loss consists of:
|  | August 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Net actuarial loss |  | $ | (2,591 | ) |  | $ | (2,993 | )
Schedules of Net Periodic Benefit Costs | The components of the net periodic benefit cost for the supplemental retirement plan recorded within other income (expense) on the consolidated statement of earnings are as follows:
|  | For the years ended August 31, |
($ in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Interest cost |  | $ | 211 |  |  | $ | 156 |  |  | $ | 146 |
Net amortization and deferral |  |  | 211 |  |  |  | 255 |  |  |  | 269 |
Total |  | $ | 422 |  |  | $ | 411 |  |  | $ | 415 |
Schedule of Expected Benefit Payments | The following net benefit payments are expected to be paid:
Fiscal years |  | $ in thousands |
2024 |  | $ | 514 |
2025 |  |  | 503 |
2026 |  |  | 490 |
2027 |  |  | 477 |
2028 |  |  | 462 |
Thereafter |  |  | 2,466 |
|  | $ | 4,912 |

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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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