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Inventories (Tables)

9 Months Ended

May 31, 2021

Inventory Disclosure [Abstract]

Components of Inventories

Inventories are valued at the lower of cost or net realizable value using the first-in first-out method. Work-in-process includes material, labor and overhead. Finished goods includes completed wheels, parts and railcars not on lease or in transit. The following table summarizes the Company’s inventory balance:

(In thousands)		May 31, 2021				August 31, 2020
Manufacturing supplies and raw materials		$	315,587			$	263,080
Work-in-process			140,285				116,909
Finished goods			117,012				173,761
Excess and obsolete adjustment			(19,747	)			(24,221	)
		$	553,137			$	529,529

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- References

No definition available.

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- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(c))
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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