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Income Taxes (Tables)

12 Months Ended

Aug. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Earnings Before Income Taxes

For financial reporting purposes, earnings before income taxes include the following components:

		For the years ended August 31,
($ in thousands)		2024				2023				2022
United States		$	40,497			$	40,066			$	34,465
Foreign			38,553				60,309				53,403
Earnings before income taxes		$	79,050			$	100,375			$	87,868

Schedule of Significant Components of Income Tax Provision

Significant components of the income tax provision are as follows:

		For the years ended August 31,
($ in thousands)		2024				2023				2022
Current:
Federal		$	9,743			$	8,119			$	5,678
State			2,331				1,690				1,310
Foreign			4,614				18,187				17,474
Total current			16,688				27,996				24,462
Deferred:
Federal			(2,310	)			(684	)			244
State			(370	)			(76	)			34
Foreign			(1,215	)			760				(2,341	)
Total deferred			(3,895	)		—					(2,063	)
Total income tax provision		$	12,793			$	27,996			$	22,399

Schedule of Effective Income Tax Rate Reconciliation

		For the years ended August 31,
		2024								2023								2022
($ in thousands)		Amount				%				Amount				%				Amount				%
U.S. statutory rate		$	16,601				21.0			$	21,079				21.0			$	18,452				21.0
State and local taxes, net of federal tax benefit			1,471				1.9				1,259				1.3				1,069				1.2
Foreign tax rate differences			1,658				2.1				6,017				6.0				3,318				3.8
NOLs			(1,349	)			(1.7	)		—				—				—				—
U.S. tax reform		—				—					(103	)			(0.1	)			313				0.4
Deferred tax asset valuation allowance		—				—					(610	)			(0.6	)		—				—
Federal credits			(1,256	)			(1.6	)			(445	)			(0.4	)			(444	)			(0.6	)
Uncertain tax benefits			(221	)			(0.3	)			(84	)			(0.1	)			(369	)			(0.4	)
Capital gains		—				—					529				0.5			—				—
International credits			(4,386	)			(5.5	)		—				—				—				—
Other			275				0.3				354				0.3				60				0.1
Effective rate		$	12,793				16.2			$	27,996				27.9			$	22,399				25.5

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

		August 31,
($ in thousands)		2024				2023
Deferred tax assets:
Accrued expenses			9,879			$	11,467
Warranty			3,432				3,433
Defined benefit pension plan			1,188				1,253
Inventory			2,825				2,749
Share-based compensation			1,920				1,722
Vacation			1,202				935
Net operating loss and capital loss carry forwards			1,264				189
Deferred revenue			1,329				1,379
Allowance for doubtful accounts			1,343				1,338
Lease liabilities			3,712				3,656
Capitalized research and development expenditures			3,867				2,009
Net investment hedges			41			—
Other			1,392				1,490
Gross deferred tax assets			33,394				31,620
Valuation allowance			(534	)			(491	)
Net deferred tax assets		$	32,860			$	31,129
Deferred tax liabilities:
Intangible assets		$	(4,802	)		$	(5,085	)
Property, plant, and equipment			(11,398	)			(12,718	)
Lease assets			(2,907	)			(2,844	)
Net investment hedges		—					(286	)
Total deferred tax liabilities		$	(19,107	)		$	(20,933	)
Net deferred tax assets		$	13,753			$	10,196

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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