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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Actuant Corp | NYSE:ATU | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 21.87 | 0 | 01:00:00 |
|
|
☒
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
|
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
|
Wisconsin
|
|
39-0168610
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
(Title of each class)
|
|
(Name of each exchange on
which registered)
|
|
|
|
Class A Common Stock, par value $0.20 per share
|
|
New York Stock Exchange
|
|
Large accelerated filer
|
|
x
|
|
Accelerated filer
|
|
¨
|
Non-accelerated filer
|
|
¨
(Do not check if a smaller reporting company)
|
|
Smaller reporting company
|
|
¨
|
Emerging growth company
|
|
¨
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Item 1.
|
||
Item 1A.
|
||
Item 1B.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
|
|
|
|
|
|
|
|
Item 5.
|
||
Item 6.
|
||
Item 7.
|
||
Item 7A.
|
||
Item 8.
|
||
Item 9.
|
||
Item 9A.
|
||
Item 9B.
|
||
|
|
|
|
|
|
|
|
|
Item 10.
|
||
Item 11.
|
||
Item 12.
|
||
Item 13.
|
||
Item 14.
|
||
|
|
|
|
|
|
|
|
|
Item 15.
|
|
|
|
2017
|
|
2016
|
|
||
|
Quarter 1 (September - November)
|
|
24
|
%
|
|
26
|
%
|
|
|
Quarter 2 (December - February)
|
|
24
|
%
|
|
23
|
%
|
|
|
Quarter 3 (March - May)
|
|
27
|
%
|
|
27
|
%
|
|
|
Quarter 4 (June - August)
|
|
25
|
%
|
|
24
|
%
|
|
|
|
|
100
|
%
|
|
100
|
%
|
|
Name
|
|
Age
|
|
Position
|
|
Randal W. Baker
|
|
54
|
|
|
President and Chief Executive Officer
|
Rick T. Dillon
|
|
46
|
|
|
Executive Vice President and Chief Financial Officer
|
Roger A. Roundhouse
|
|
52
|
|
|
Executive Vice President—Engineered Solutions Segment
|
Andre L. Williams
|
|
58
|
|
|
Executive Vice President—Global Human Resources
|
•
|
the current and anticipated future prices for energy sources, including oil and natural gas, solar, wind and nuclear;
|
•
|
level of excess production capacity;
|
•
|
cost of exploring for and producing energy sources;
|
•
|
worldwide economic activity and associated demand for energy sources;
|
•
|
availability and access to potential hydrocarbon resources;
|
•
|
national government political requirements;
|
•
|
development of alternate energy sources;
|
•
|
environmental regulations; and
|
•
|
evolving customer behaviors related to project scope, scale and timing.
|
•
|
difficulties in integrating and managing personnel, financial reporting and other systems used by the acquired businesses;
|
•
|
the failure of acquired businesses to perform in accordance with our expectations;
|
•
|
failure to achieve anticipated synergies between our business units and the business units of acquired businesses;
|
•
|
the loss of customers of acquired businesses; or
|
•
|
the loss of key managers of acquired businesses.
|
|
|
Number of Locations
|
|
Square Footage
|
||||||||||||||
|
|
|
|
Distribution /
Sales /
Admin
|
|
|
|
|
||||||||||
|
|
Manufacturing
|
|
Total
|
|
Owned
|
|
Leased
|
|
Total
|
||||||||
Industrial
|
|
10
|
|
|
8
|
|
|
18
|
|
|
219
|
|
|
580
|
|
|
799
|
|
Energy
|
|
8
|
|
|
28
|
|
|
36
|
|
|
81
|
|
|
840
|
|
|
921
|
|
Engineered Solutions
|
|
11
|
|
|
4
|
|
|
15
|
|
|
751
|
|
|
740
|
|
|
1,491
|
|
Corporate and other
|
|
1
|
|
|
4
|
|
|
5
|
|
|
353
|
|
|
164
|
|
|
517
|
|
|
|
30
|
|
|
44
|
|
|
74
|
|
|
1,404
|
|
|
2,324
|
|
|
3,728
|
|
Item 5.
|
Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
|
Fiscal Year
|
|
Period
|
|
High
|
|
Low
|
||||
2017
|
|
June 1, 2017 to August 31, 2017
|
|
$
|
27.40
|
|
|
$
|
22.25
|
|
|
|
March 1, 2017 to May 31, 2017
|
|
28.90
|
|
|
24.55
|
|
||
|
|
December 1, 2016 to February 28, 2017
|
|
29.30
|
|
|
21.60
|
|
||
|
|
September 1, 2016 to November 30, 2016
|
|
24.19
|
|
|
21.68
|
|
||
2016
|
|
June 1, 2016 to August 31, 2016
|
|
$
|
27.26
|
|
|
$
|
21.70
|
|
|
|
March 1, 2016 to May 31, 2016
|
|
27.29
|
|
|
22.98
|
|
||
|
|
December 1, 2015 to February 29, 2016
|
|
24.80
|
|
|
21.12
|
|
||
|
|
September 1, 2015 to November 30, 2015
|
|
25.10
|
|
|
17.57
|
|
|
|
8/12
|
|
8/13
|
|
8/14
|
|
8/15
|
|
8/16
|
|
8/17
|
||||||||||||
Actuant Corporation
|
|
$
|
100.00
|
|
|
$
|
127.20
|
|
|
$
|
120.23
|
|
|
$
|
76.52
|
|
|
$
|
85.24
|
|
|
$
|
86.18
|
|
S&P 500
|
|
100.00
|
|
|
118.70
|
|
|
148.67
|
|
|
149.38
|
|
|
168.13
|
|
|
195.43
|
|
||||||
Dow Jones US Diversified Industrials
|
|
100.00
|
|
|
121.52
|
|
|
145.06
|
|
|
144.89
|
|
|
183.36
|
|
|
181.27
|
|
|
|
Year Ended August 31,
|
||||||||||||||||||
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
|
2013
|
||||||||||
|
|
(in millions, except per share data)
|
||||||||||||||||||
Statement of Earnings Data
(1)(2)
:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
|
$
|
1,096
|
|
|
$
|
1,149
|
|
|
$
|
1,249
|
|
|
$
|
1,400
|
|
|
$
|
1,280
|
|
Gross profit
|
|
380
|
|
|
403
|
|
|
462
|
|
|
547
|
|
|
507
|
|
|||||
Selling, administrative and engineering expenses
|
|
278
|
|
|
274
|
|
|
300
|
|
|
332
|
|
|
294
|
|
|||||
Amortization of intangible assets
|
|
20
|
|
|
23
|
|
|
24
|
|
|
25
|
|
|
23
|
|
|||||
Director & officer transition charges
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Restructuring charges
|
|
7
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Gain (loss) on product line divestiture
|
|
—
|
|
|
5
|
|
|
—
|
|
|
(13
|
)
|
|
—
|
|
|||||
Impairment & other divestiture charges
|
|
117
|
|
|
187
|
|
|
84
|
|
|
—
|
|
|
—
|
|
|||||
Operating (loss) profit
|
|
(50
|
)
|
|
(100
|
)
|
|
54
|
|
|
203
|
|
|
190
|
|
|||||
(Loss) earnings from continuing operations
|
|
(66
|
)
|
|
(105
|
)
|
|
20
|
|
|
141
|
|
|
148
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Diluted (loss) earnings per share from continuing operations
|
|
$
|
(1.11
|
)
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
|
$
|
1.95
|
|
|
$
|
1.98
|
|
Cash dividends per share declared
|
|
$
|
0.04
|
|
|
$
|
0.04
|
|
|
$
|
0.04
|
|
|
$
|
0.04
|
|
|
$
|
0.04
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Diluted weighted average common shares
|
|
59,436
|
|
|
59,010
|
|
|
62,055
|
|
|
72,486
|
|
|
74,580
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance Sheet Data
(at end of period)
(2)
:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash
|
|
$
|
230
|
|
|
$
|
180
|
|
|
$
|
169
|
|
|
$
|
109
|
|
|
$
|
104
|
|
Assets
|
|
1,517
|
|
|
1,439
|
|
|
1,637
|
|
|
1,857
|
|
|
2,119
|
|
|||||
Debt
|
|
562
|
|
|
580
|
|
|
588
|
|
|
390
|
|
|
515
|
|
|||||
Net debt (debt less cash)
|
|
332
|
|
|
400
|
|
|
419
|
|
|
281
|
|
|
411
|
|
(1)
|
Results are from continuing operations and exclude the financial results of previously divested businesses reported as discontinued operations (former Electrical segment) in fiscals 2014 and 2013.
|
(2)
|
We have completed various acquisitions that impact the comparability of the selected financial data. The results of operations for these acquisitions are included in our financial results for all periods subsequent to their acquisition date. The following table summarizes the significant acquisitions that were completed during the last five fiscal years (amounts in millions):
|
|
|
|
|
|
|
|
|
|
||||
Acquisition
|
|
Segment
|
|
Date Completed
|
|
Sales
(a)
|
|
Purchase Price
|
||||
Pipeline and Process Services
(b)
|
|
Energy
|
|
March 2016
|
|
$
|
32
|
|
|
$
|
66
|
|
Larzep, S.A.
|
|
Industrial
|
|
February 2016
|
|
8
|
|
|
16
|
|
||
Hayes Industries, Ltd.
|
|
Industrial
|
|
May 2014
|
|
25
|
|
|
31
|
|
||
Viking SeaTech
|
|
Energy
|
|
August 2013
|
|
90
|
|
|
235
|
|
|
|
Year Ended August 31,
|
|||||||||||||||||||
|
|
2017
|
|
2016
|
|
2015
|
|||||||||||||||
Statements of Earnings Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net sales
|
|
$
|
1,096
|
|
|
100
|
%
|
|
$
|
1,149
|
|
|
100
|
%
|
|
$
|
1,249
|
|
|
100
|
%
|
Cost of products sold
|
|
716
|
|
|
65
|
%
|
|
746
|
|
|
65
|
%
|
|
787
|
|
|
63
|
%
|
|||
Gross profit
|
|
380
|
|
|
35
|
%
|
|
403
|
|
|
35
|
%
|
|
462
|
|
|
37
|
%
|
|||
Selling, administrative and engineering expenses
|
|
278
|
|
|
25
|
%
|
|
274
|
|
|
24
|
%
|
|
300
|
|
|
24
|
%
|
|||
Director & officer transition charges
|
|
8
|
|
|
1
|
%
|
|
—
|
|
|
0
|
%
|
|
—
|
|
|
0
|
%
|
|||
Restructuring charges
|
|
7
|
|
|
1
|
%
|
|
15
|
|
|
1
|
%
|
|
—
|
|
|
0
|
%
|
|||
Loss on product line divestiture
|
|
—
|
|
|
0
|
%
|
|
5
|
|
|
0
|
%
|
|
—
|
|
|
0
|
%
|
|||
Amortization of intangible assets
|
|
20
|
|
|
2
|
%
|
|
23
|
|
|
2
|
%
|
|
24
|
|
|
2
|
%
|
|||
Impairment & other divestiture charges
|
|
117
|
|
|
11
|
%
|
|
187
|
|
|
16
|
%
|
|
84
|
|
|
7
|
%
|
|||
Operating (loss) profit
|
|
(50
|
)
|
|
(5
|
)%
|
|
(100
|
)
|
|
(9
|
)%
|
|
54
|
|
|
4
|
%
|
|||
Financing costs, net
|
|
30
|
|
|
3
|
%
|
|
29
|
|
|
3
|
%
|
|
28
|
|
|
2
|
%
|
|||
Other expense, net
|
|
3
|
|
|
0
|
%
|
|
1
|
|
|
0
|
%
|
|
—
|
|
|
0
|
%
|
|||
(Loss) earnings before income tax (benefit) expense
|
|
(83
|
)
|
|
(8
|
)%
|
|
(130
|
)
|
|
(11
|
)%
|
|
26
|
|
|
2
|
%
|
|||
Income tax (benefit) expense
|
|
(17
|
)
|
|
(1
|
)%
|
|
(25
|
)
|
|
(2
|
)%
|
|
6
|
|
|
0
|
%
|
|||
Net (loss) earnings
|
|
$
|
(66
|
)
|
|
(6
|
)%
|
|
$
|
(105
|
)
|
|
(9
|
)%
|
|
$
|
20
|
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Other Financial Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation
|
|
$
|
23
|
|
|
|
|
$
|
25
|
|
|
|
|
$
|
29
|
|
|
|
|||
Capital expenditures
|
|
28
|
|
|
|
|
20
|
|
|
|
|
23
|
|
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Sales
|
|
$
|
380
|
|
|
$
|
360
|
|
|
$
|
402
|
|
Operating Profit
|
|
85
|
|
|
80
|
|
|
106
|
|
|||
Operating Profit %
|
|
22.4
|
%
|
|
22.2
|
%
|
|
26.3
|
%
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Sales
|
|
$
|
310
|
|
|
$
|
393
|
|
|
$
|
412
|
|
Operating Loss
(1)
|
|
(119
|
)
|
|
(108
|
)
|
|
(41
|
)
|
|||
Operating Loss %
|
|
(38.4
|
)%
|
|
(27.4
|
)%
|
|
(10.0
|
)%
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Sales
|
|
$
|
406
|
|
|
$
|
397
|
|
|
$
|
435
|
|
Operating Profit (Loss)
(1)
|
|
17
|
|
|
(43
|
)
|
|
20
|
|
|||
Operating Profit (Loss) %
|
|
4.2
|
%
|
|
(10.8
|
)%
|
|
4.6
|
%
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
(Loss) earnings before income tax (benefit) expense
|
|
$
|
(82,691
|
)
|
|
$
|
(130,344
|
)
|
|
$
|
25,391
|
|
Income tax (benefit) expense
|
|
(16,478
|
)
|
|
(25,170
|
)
|
|
5,519
|
|
|||
Effective income tax rate
|
|
19.9
|
%
|
|
19.3
|
%
|
|
21.7
|
%
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net cash provided by operating activities
|
|
$
|
88
|
|
|
$
|
118
|
|
|
$
|
131
|
|
Net cash used in investing activities
|
|
(28
|
)
|
|
(83
|
)
|
|
(21
|
)
|
|||
Net cash used in financing activities
|
|
(14
|
)
|
|
(18
|
)
|
|
(15
|
)
|
|||
Effect of exchange rate changes on cash
|
|
4
|
|
|
(5
|
)
|
|
(35
|
)
|
|||
Net increase in cash and cash equivalents
|
|
$
|
50
|
|
|
$
|
11
|
|
|
$
|
60
|
|
|
|
August 31, 2017
|
|
August 31, 2016
|
||||||||||
|
|
$
|
|
PWC %
|
|
$
|
|
PWC %
|
||||||
Accounts receivable, net
|
|
$
|
190
|
|
|
17
|
%
|
|
$
|
187
|
|
|
17
|
%
|
Inventory, net
|
|
144
|
|
|
13
|
%
|
|
131
|
|
|
12
|
%
|
||
Accounts payable
|
|
(133
|
)
|
|
(12
|
)%
|
|
(115
|
)
|
|
(10
|
)%
|
||
Net primary working capital
|
|
$
|
201
|
|
|
18
|
%
|
|
$
|
203
|
|
|
18
|
%
|
|
|
Payments Due
|
||||||||||||||||||||||||||
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
Thereafter
|
|
Total
|
||||||||||||||
Debt (short- and long-term)
|
|
$
|
30
|
|
|
$
|
30
|
|
|
$
|
218
|
|
|
$
|
—
|
|
|
$
|
288
|
|
|
$
|
—
|
|
|
$
|
566
|
|
Interest on long-term debt
|
|
25
|
|
|
24
|
|
|
23
|
|
|
16
|
|
|
14
|
|
|
—
|
|
|
102
|
|
|||||||
Operating leases
|
|
28
|
|
|
23
|
|
|
19
|
|
|
13
|
|
|
11
|
|
|
13
|
|
|
107
|
|
|||||||
Rental asset lease buyout liability
|
|
29
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
29
|
|
|||||||
Deferred acquisition purchase price
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
|
|
|
—
|
|
|
2
|
|
|||||||
|
|
$
|
112
|
|
|
$
|
79
|
|
|
$
|
260
|
|
|
$
|
29
|
|
|
$
|
313
|
|
|
$
|
13
|
|
|
$
|
806
|
|
|
Page
|
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDEX TO FINANCIAL STATEMENT SCHEDULE
|
|
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net sales
|
|
$
|
1,095,784
|
|
|
$
|
1,149,410
|
|
|
$
|
1,249,254
|
|
Cost of products sold
|
|
716,067
|
|
|
746,013
|
|
|
787,413
|
|
|||
Gross profit
|
|
379,717
|
|
|
403,397
|
|
|
461,841
|
|
|||
Selling, administrative and engineering expenses
|
|
277,488
|
|
|
274,497
|
|
|
299,601
|
|
|||
Amortization of intangible assets
|
|
20,474
|
|
|
22,943
|
|
|
24,333
|
|
|||
Loss on product line divestiture
|
|
—
|
|
|
5,092
|
|
|
—
|
|
|||
Director & officer transition charges
|
|
7,784
|
|
|
—
|
|
|
—
|
|
|||
Restructuring charges
|
|
7,228
|
|
|
14,571
|
|
|
—
|
|
|||
Impairment & other divestiture charges
|
|
116,979
|
|
|
186,511
|
|
|
84,353
|
|
|||
Operating (loss) profit
|
|
(50,236
|
)
|
|
(100,217
|
)
|
|
53,554
|
|
|||
Financing costs, net
|
|
29,703
|
|
|
28,768
|
|
|
28,057
|
|
|||
Other expense, net
|
|
2,752
|
|
|
1,359
|
|
|
106
|
|
|||
(Loss) earnings before income tax (benefit) expense
|
|
(82,691
|
)
|
|
(130,344
|
)
|
|
25,391
|
|
|||
Income tax (benefit) expense
|
|
(16,478
|
)
|
|
(25,170
|
)
|
|
5,519
|
|
|||
Net (loss) earnings
|
|
(66,213
|
)
|
|
(105,174
|
)
|
|
19,872
|
|
|||
|
|
|
|
|
|
|
||||||
(Loss) earnings per share
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
(1.11
|
)
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
Diluted
|
|
$
|
(1.11
|
)
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
|
|
|
|
|
|
|
||||||
Weighted average common shares outstanding
|
|
|
|
|
|
|
||||||
Basic
|
|
59,436
|
|
|
59,010
|
|
|
61,262
|
|
|||
Diluted
|
|
59,436
|
|
|
59,010
|
|
|
62,055
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net (loss) earnings
|
|
$
|
(66,213
|
)
|
|
$
|
(105,174
|
)
|
|
$
|
19,872
|
|
Other comprehensive income (loss), net of tax
|
|
|
|
|
|
|
||||||
Foreign currency translation adjustments
|
|
20,470
|
|
|
(32,203
|
)
|
|
(143,703
|
)
|
|||
Pension and other postretirement benefit plans
|
|
4,092
|
|
|
(6,003
|
)
|
|
(1,506
|
)
|
|||
Cash flow hedges
|
|
—
|
|
|
23
|
|
|
(23
|
)
|
|||
Total other comprehensive income (loss), net of tax
|
|
24,562
|
|
|
(38,183
|
)
|
|
(145,232
|
)
|
|||
Comprehensive loss
|
|
$
|
(41,651
|
)
|
|
$
|
(143,357
|
)
|
|
$
|
(125,360
|
)
|
|
|
August 31,
|
||||||
|
|
2017
|
|
2016
|
||||
A S S E T S
|
|
|
|
|
||||
Current assets
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
229,571
|
|
|
$
|
179,604
|
|
Accounts receivable, net
|
|
190,206
|
|
|
186,829
|
|
||
Inventories, net
|
|
143,651
|
|
|
130,756
|
|
||
Assets held for sale
|
|
21,835
|
|
|
—
|
|
||
Other current assets
|
|
61,663
|
|
|
45,463
|
|
||
Total current assets
|
|
646,926
|
|
|
542,652
|
|
||
Property, plant and equipment
|
|
|
|
|
||||
Land, buildings and improvements
|
|
43,737
|
|
|
41,504
|
|
||
Machinery and equipment
|
|
227,535
|
|
|
268,362
|
|
||
Gross property, plant and equipment
|
|
271,272
|
|
|
309,866
|
|
||
Less: Accumulated depreciation
|
|
(176,751
|
)
|
|
(195,851
|
)
|
||
Property, plant and equipment, net
|
|
94,521
|
|
|
114,015
|
|
||
Goodwill
|
|
530,081
|
|
|
519,276
|
|
||
Other intangible assets, net
|
|
220,489
|
|
|
239,475
|
|
||
Other long-term assets
|
|
24,938
|
|
|
23,242
|
|
||
Total assets
|
|
$
|
1,516,955
|
|
|
$
|
1,438,660
|
|
|
|
|
|
|
||||
L I A B I L I T I E S A N D S H A R E H O L D E R S’ E Q U I T Y
|
|
|
|
|
||||
Current liabilities
|
|
|
|
|
||||
Trade accounts payable
|
|
$
|
133,387
|
|
|
$
|
115,051
|
|
Accrued compensation and benefits
|
|
50,939
|
|
|
46,901
|
|
||
Current maturities of debt and short-term borrowings
|
|
30,000
|
|
|
18,750
|
|
||
Income taxes payable
|
|
6,080
|
|
|
9,254
|
|
||
Liabilities held for sale
|
|
101,083
|
|
|
—
|
|
||
Other current liabilities
|
|
57,445
|
|
|
51,956
|
|
||
Total current liabilities
|
|
378,934
|
|
|
241,912
|
|
||
Long-term debt, net
|
|
531,940
|
|
|
561,681
|
|
||
Deferred income taxes
|
|
29,859
|
|
|
31,356
|
|
||
Pension and postretirement benefit liabilities
|
|
19,862
|
|
|
25,667
|
|
||
Other long-term liabilities
|
|
55,821
|
|
|
57,094
|
|
||
Total liabilities
|
|
1,016,416
|
|
|
917,710
|
|
||
Commitments and contingencies (Note 16)
|
|
|
|
|
||||
Shareholders’ equity
|
|
|
|
|
||||
Class A common stock, $0.20 par value per share, authorized 168,000,000 shares, issued 80,200,110 and 79,393,393 shares, respectively
|
|
16,040
|
|
|
15,879
|
|
||
Additional paid-in capital
|
|
138,449
|
|
|
114,980
|
|
||
Treasury stock, at cost, 20,439,434 shares
|
|
(617,731
|
)
|
|
(617,731
|
)
|
||
Retained earnings
|
|
1,191,042
|
|
|
1,259,645
|
|
||
Accumulated other comprehensive loss
|
|
(227,261
|
)
|
|
(251,823
|
)
|
||
Stock held in trust
|
|
(2,696
|
)
|
|
(2,646
|
)
|
||
Deferred compensation liability
|
|
2,696
|
|
|
2,646
|
|
||
Total shareholders’ equity
|
|
500,539
|
|
|
520,950
|
|
||
Total liabilities and shareholders’ equity
|
|
$
|
1,516,955
|
|
|
$
|
1,438,660
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Operating Activities
|
|
|
|
|
|
|
||||||
Net (loss) earnings
|
|
$
|
(66,213
|
)
|
|
$
|
(105,174
|
)
|
|
$
|
19,872
|
|
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
||||||
Non-cash items:
|
|
|
|
|
|
|
||||||
Impairment & other divestiture charges, net of tax benefit
|
|
108,860
|
|
|
169,056
|
|
|
82,635
|
|
|||
Depreciation and amortization
|
|
43,110
|
|
|
47,777
|
|
|
53,239
|
|
|||
Stock-based compensation expense
|
|
16,733
|
|
|
10,442
|
|
|
12,046
|
|
|||
Benefit for deferred income taxes
|
|
(8,956
|
)
|
|
(17,403
|
)
|
|
(12,221
|
)
|
|||
Amortization of debt issuance costs
|
|
1,657
|
|
|
1,652
|
|
|
1,897
|
|
|||
Other non-cash adjustments
|
|
1,202
|
|
|
(517
|
)
|
|
805
|
|
|||
Gain on disposal of business, net of tax benefit
|
|
—
|
|
|
(1,557
|
)
|
|
—
|
|
|||
Changes in components of working capital and other:
|
|
|
|
|
|
|
||||||
Accounts receivable
|
|
(3,475
|
)
|
|
20,261
|
|
|
12,827
|
|
|||
Inventories
|
|
(11,277
|
)
|
|
10,202
|
|
|
6,608
|
|
|||
Trade accounts payable
|
|
18,117
|
|
|
(7,727
|
)
|
|
(19,801
|
)
|
|||
Prepaid expenses and other assets
|
|
(5,367
|
)
|
|
(3,291
|
)
|
|
(8,761
|
)
|
|||
Income taxes payable/receivable
|
|
(11,298
|
)
|
|
(7,916
|
)
|
|
(11,629
|
)
|
|||
Accrued compensation and benefits
|
|
3,752
|
|
|
3,912
|
|
|
(6,478
|
)
|
|||
Other accrued liabilities
|
|
1,002
|
|
|
(2,020
|
)
|
|
395
|
|
|||
Cash provided by operating activities
|
|
87,847
|
|
|
117,697
|
|
|
131,434
|
|
|||
|
|
|
|
|
|
|
||||||
Investing Activities
|
|
|
|
|
|
|
||||||
Capital expenditures
|
|
(28,195
|
)
|
|
(20,209
|
)
|
|
(22,516
|
)
|
|||
Proceeds from sale of property, plant and equipment
|
|
570
|
|
|
9,296
|
|
|
1,244
|
|
|||
Business acquisitions, net of cash acquired
|
|
—
|
|
|
(81,916
|
)
|
|
—
|
|
|||
Proceeds from sale of product line, net of transaction costs
|
|
—
|
|
|
9,695
|
|
|
—
|
|
|||
Cash used in investing activities
|
|
(27,625
|
)
|
|
(83,134
|
)
|
|
(21,272
|
)
|
|||
|
|
|
|
|
|
|
||||||
Financing Activities
|
|
|
|
|
|
|
||||||
Net borrowings (repayments) on revolving credit facility
|
|
—
|
|
|
(210
|
)
|
|
220
|
|
|||
Principal repayments on term loan
|
|
(18,750
|
)
|
|
(3,750
|
)
|
|
(3,375
|
)
|
|||
Proceeds from term loan
|
|
—
|
|
|
—
|
|
|
213,375
|
|
|||
Redemption of 5.625% Senior Notes
|
|
(500
|
)
|
|
—
|
|
|
(11,941
|
)
|
|||
Purchase of treasury shares
|
|
—
|
|
|
(17,101
|
)
|
|
(212,003
|
)
|
|||
Debt issuance costs
|
|
—
|
|
|
—
|
|
|
(2,025
|
)
|
|||
Taxes paid related to the net share settlement of equity awards
|
|
(1,065
|
)
|
|
(1,409
|
)
|
|
(2,466
|
)
|
|||
Stock option exercises, related tax benefits and other
|
|
8,917
|
|
|
6,416
|
|
|
5,396
|
|
|||
Payment of contingent acquisition consideration
|
|
(742
|
)
|
|
—
|
|
|
—
|
|
|||
Cash dividend
|
|
(2,358
|
)
|
|
(2,376
|
)
|
|
(2,598
|
)
|
|||
Cash used in financing activities
|
|
(14,498
|
)
|
|
(18,430
|
)
|
|
(15,417
|
)
|
|||
Effect of exchange rate changes on cash
|
|
4,243
|
|
|
(5,375
|
)
|
|
(34,911
|
)
|
|||
Net increase in cash and cash equivalents
|
|
49,967
|
|
|
10,758
|
|
|
59,834
|
|
|||
Cash and cash equivalents - beginning of period
|
|
179,604
|
|
|
168,846
|
|
|
109,012
|
|
|||
Cash and cash equivalents - end of period
|
|
$
|
229,571
|
|
|
$
|
179,604
|
|
|
$
|
168,846
|
|
|
|
Common Stock
|
|
Additional
Paid-in
Capital
|
|
Treasury
Stock
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
Loss
|
|
Stock
Held in
Trust
|
|
Deferred
Compensation
Liability
|
|
Total
Shareholders’
Equity
|
|||||||||||||||||||
|
|
Issued
Shares
|
|
Amount
|
|
||||||||||||||||||||||||||||||
Balance at August 31, 2014
|
|
78,481
|
|
|
$
|
15,695
|
|
|
$
|
93,449
|
|
|
$
|
(388,627
|
)
|
|
$
|
1,349,602
|
|
|
$
|
(68,408
|
)
|
|
$
|
(4,083
|
)
|
|
$
|
4,083
|
|
|
$
|
1,001,711
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,872
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,872
|
|
||||||||
Other comprehensive loss, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(145,232
|
)
|
|
—
|
|
|
—
|
|
|
(145,232
|
)
|
||||||||
Stock contribution to employee benefit plans and other
|
|
12
|
|
|
4
|
|
|
459
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
463
|
|
||||||||
Restricted stock awards
|
|
365
|
|
|
73
|
|
|
(73
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Cash dividend ($0.04 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,298
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,298
|
)
|
||||||||
Treasury stock repurchases
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(212,003
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(212,003
|
)
|
||||||||
Stock based compensation expense
|
|
—
|
|
|
—
|
|
|
12,046
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12,046
|
|
||||||||
Stock option exercises
|
|
65
|
|
|
13
|
|
|
1,134
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,147
|
|
||||||||
Tax effect of stock option exercises and restricted stock vesting
|
|
—
|
|
|
—
|
|
|
(2,955
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,955
|
)
|
||||||||
Stock issued to, acquired for and distributed from rabbi trust
|
|
10
|
|
|
2
|
|
|
248
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(209
|
)
|
|
209
|
|
|
250
|
|
||||||||
Balance at August 31, 2015
|
|
78,933
|
|
|
15,787
|
|
|
104,308
|
|
|
(600,630
|
)
|
|
1,367,176
|
|
|
(213,640
|
)
|
|
(4,292
|
)
|
|
4,292
|
|
|
673,001
|
|
||||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(105,174
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(105,174
|
)
|
||||||||
Other comprehensive loss, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(38,183
|
)
|
|
—
|
|
|
—
|
|
|
(38,183
|
)
|
||||||||
Stock contribution to employee benefit plans and other
|
|
20
|
|
|
4
|
|
|
449
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
453
|
|
||||||||
Restricted stock awards
|
|
235
|
|
|
47
|
|
|
(47
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Cash dividend ($0.04 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,357
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,357
|
)
|
||||||||
Treasury stock repurchases
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17,101
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17,101
|
)
|
||||||||
Stock based compensation expense
|
|
—
|
|
|
—
|
|
|
10,442
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,442
|
|
||||||||
Stock option exercises
|
|
175
|
|
|
35
|
|
|
3,529
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,564
|
|
||||||||
Tax effect of stock option exercises and restricted stock vesting
|
|
—
|
|
|
—
|
|
|
(3,943
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,943
|
)
|
||||||||
Stock issued to, acquired for and distributed from rabbi trust
|
|
30
|
|
|
6
|
|
|
242
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,646
|
|
|
(1,646
|
)
|
|
248
|
|
||||||||
Balance at August 31, 2016
|
|
79,393
|
|
|
15,879
|
|
|
114,980
|
|
|
(617,731
|
)
|
|
1,259,645
|
|
|
(251,823
|
)
|
|
(2,646
|
)
|
|
2,646
|
|
|
520,950
|
|
||||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(66,213
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(66,213
|
)
|
||||||||
Other comprehensive income, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
24,562
|
|
|
—
|
|
|
—
|
|
|
24,562
|
|
||||||||
Stock contribution to employee benefit plans and other
|
|
17
|
|
|
3
|
|
|
890
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
893
|
|
||||||||
Restricted stock awards
|
|
397
|
|
|
79
|
|
|
(79
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Cash dividend ($0.04 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,390
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,390
|
)
|
||||||||
Stock based compensation expense
|
|
—
|
|
|
—
|
|
|
16,733
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
16,733
|
|
||||||||
Stock option exercises
|
|
374
|
|
|
75
|
|
|
7,687
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,762
|
|
||||||||
Tax effect of stock option exercises and restricted stock vesting
|
|
—
|
|
|
—
|
|
|
(2,042
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,042
|
)
|
||||||||
Stock issued to, acquired for and distributed from rabbi trust
|
|
19
|
|
|
4
|
|
|
280
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(50
|
)
|
|
50
|
|
|
284
|
|
||||||||
Balance at August 31, 2017
|
|
80,200
|
|
|
$
|
16,040
|
|
|
$
|
138,449
|
|
|
$
|
(617,731
|
)
|
|
$
|
1,191,042
|
|
|
$
|
(227,261
|
)
|
|
$
|
(2,696
|
)
|
|
$
|
2,696
|
|
|
$
|
500,539
|
|
|
|
2017
|
|
2016
|
||||
Beginning balance
|
|
$
|
5,592
|
|
|
$
|
3,719
|
|
Provision for warranties
|
|
5,608
|
|
|
5,985
|
|
||
Warranty payments and costs incurred
|
|
(4,714
|
)
|
|
(4,058
|
)
|
||
Impact of changes in foreign currency rates
|
|
130
|
|
|
(57
|
)
|
||
Warranty reserve of acquired business
|
|
—
|
|
|
3
|
|
||
Ending balance
|
|
$
|
6,616
|
|
|
$
|
5,592
|
|
|
|
August 31,
|
|||||
|
|
2017
|
2016
|
||||
Foreign currency translation adjustments
|
|
$
|
207,804
|
|
$
|
228,274
|
|
Pension and other postretirement benefit plans, net of tax
|
|
19,457
|
|
23,549
|
|
||
Accumulated other comprehensive loss
|
|
$
|
227,261
|
|
$
|
251,823
|
|
•
|
add additional income tax expense (benefit) in the statement of operations which will create volatility in the Company's effective tax rate;
|
•
|
the Company will no longer reclassify the excess tax benefit from operating activities to financing activities in the consolidated statement of cash flows;
|
•
|
impact our computation of diluted earnings per share as the Company will exclude the excess tax benefit from the assumed proceeds available to repurchase shares.
|
|
|
Year Ended August 31, 2017
|
||||||||||||||||||
|
|
Industrial
|
|
Energy
|
|
Engineered Solutions
|
|
Corporate
|
|
Total
|
||||||||||
Balance as of August 31, 2016
|
|
$
|
1,343
|
|
|
$
|
3,021
|
|
|
$
|
1,863
|
|
|
$
|
46
|
|
|
$
|
6,273
|
|
Restructuring charges
|
|
1,687
|
|
|
1,942
|
|
|
3,488
|
|
|
111
|
|
|
7,228
|
|
|||||
Cash payments
|
|
(2,384
|
)
|
|
(1,460
|
)
|
|
(3,582
|
)
|
|
(83
|
)
|
|
(7,509
|
)
|
|||||
Other non-cash uses of reserve
|
|
(436
|
)
|
|
(41
|
)
|
|
(6
|
)
|
|
(44
|
)
|
|
(527
|
)
|
|||||
Impact of changes in foreign currency rates
|
|
(8
|
)
|
|
151
|
|
|
29
|
|
|
—
|
|
|
172
|
|
|||||
Balance as of August 31, 2017
|
|
$
|
202
|
|
|
$
|
3,613
|
|
|
$
|
1,792
|
|
|
$
|
30
|
|
|
$
|
5,637
|
|
|
|
Year Ended August 31, 2016
|
||||||||||||||||||
|
|
Industrial
|
|
Energy
|
|
Engineered Solutions
|
|
Corporate
|
|
Total
|
||||||||||
Balance as of August 31, 2015
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Restructuring charges
|
|
3,158
|
|
|
5,544
|
|
|
5,411
|
|
|
458
|
|
|
14,571
|
|
|||||
Cash payments
|
|
(1,772
|
)
|
|
(2,345
|
)
|
|
(3,199
|
)
|
|
(203
|
)
|
|
(7,519
|
)
|
|||||
Other non-cash uses of reserve
|
|
(54
|
)
|
|
(166
|
)
|
|
(364
|
)
|
|
(209
|
)
|
|
(793
|
)
|
|||||
Impact of changes in foreign currency rates
|
|
11
|
|
|
(12
|
)
|
|
15
|
|
|
—
|
|
|
14
|
|
|||||
Balance as of August 31, 2016
|
|
$
|
1,343
|
|
|
$
|
3,021
|
|
|
$
|
1,863
|
|
|
$
|
46
|
|
|
$
|
6,273
|
|
|
|
|
||||||
|
|
2016
|
|
2015
|
||||
Net Sales
|
|
|
|
|
||||
As reported
|
|
$
|
1,149,410
|
|
|
$
|
1,249,254
|
|
Pro Forma
|
|
1,175,304
|
|
|
1,275,965
|
|
||
Net (loss) earnings
|
|
|
|
|
||||
As reported
|
|
$
|
(105,174
|
)
|
|
$
|
19,872
|
|
Pro Forma
|
|
(100,927
|
)
|
|
20,361
|
|
||
Basic (loss) earnings pe
r share
|
|
|
|
|
||||
As reported
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
Pro Forma
|
|
(1.71
|
)
|
|
0.33
|
|
||
Diluted (loss) earnings per
share
|
|
|
|
|
||||
As reported
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
Pro Forma
|
|
(1.71
|
)
|
|
0.33
|
|
|
|
August 31, 2017
|
||
Accounts receivable, net
|
|
$
|
2,426
|
|
Inventories, net
|
|
190
|
|
|
Property, plant & equipment, net
|
|
7,534
|
|
|
Prepaid expenses and other current assets
|
|
1,927
|
|
|
Other long-term assets
|
|
9,758
|
|
|
Assets held for sale
|
|
$
|
21,835
|
|
|
|
|
||
Trade accounts payable
|
|
$
|
1,883
|
|
Other current liabilities (including divestiture accruals)
|
|
1,637
|
|
|
Rental asset lease buyout liability
|
|
28,644
|
|
|
Reserve for cumulative translation adjustment
|
|
68,919
|
|
|
Liabilities held for sale
|
|
$
|
101,083
|
|
|
|
Industrial
|
|
Energy
|
|
Engineered Solutions
|
|
Total
|
||||||||
Balance as of August 31, 2015
|
|
$
|
92,107
|
|
|
$
|
236,450
|
|
|
$
|
279,699
|
|
|
$
|
608,256
|
|
Business acquisitions
|
|
9,726
|
|
|
36,241
|
|
|
—
|
|
|
45,967
|
|
||||
Impairment charge
|
|
—
|
|
|
(73,919
|
)
|
|
(44,543
|
)
|
|
(118,462
|
)
|
||||
Business divestiture (Sanlo)
|
|
—
|
|
|
—
|
|
|
(3,778
|
)
|
|
(3,778
|
)
|
||||
Impact of changes in foreign currency rates
|
|
(94
|
)
|
|
(11,451
|
)
|
|
(1,162
|
)
|
|
(12,707
|
)
|
||||
Balance as of August 31, 2016
|
|
101,739
|
|
|
187,321
|
|
|
230,216
|
|
|
519,276
|
|
||||
Purchase accounting adjustments
|
|
(59
|
)
|
|
1,144
|
|
|
—
|
|
|
1,085
|
|
||||
Impact of changes in foreign currency rates
|
|
$
|
2,195
|
|
|
$
|
365
|
|
|
$
|
7,160
|
|
|
$
|
9,720
|
|
Balance as of August 31, 2017
|
|
$
|
103,875
|
|
|
$
|
188,830
|
|
|
$
|
237,376
|
|
|
$
|
530,081
|
|
|
|
Weighted Average Amortization Period (Year)
|
|
August 31, 2017
|
|
August 31, 2016
|
||||||||||||||||||||
|
|
Gross
|
|
Accumulated Amortization
|
|
Net Book Value
|
|
Gross
|
|
Accumulated Amortization
|
|
Net Book Value
|
||||||||||||||
Amortizable intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Customer relationships
|
|
15
|
|
$
|
263,498
|
|
|
$
|
153,003
|
|
|
$
|
110,495
|
|
|
$
|
292,671
|
|
|
$
|
166,252
|
|
|
$
|
126,419
|
|
Patents
|
|
10
|
|
30,401
|
|
|
24,027
|
|
|
6,374
|
|
|
30,296
|
|
|
22,233
|
|
|
8,063
|
|
||||||
Trademarks and tradenames
|
|
18
|
|
21,498
|
|
|
9,396
|
|
|
12,102
|
|
|
21,283
|
|
|
7,936
|
|
|
13,347
|
|
||||||
Non-compete agreements & other
|
|
3
|
|
6,672
|
|
|
6,234
|
|
|
438
|
|
|
6,627
|
|
|
5,890
|
|
|
737
|
|
||||||
Indefinite lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Tradenames
|
|
N/A
|
|
91,080
|
|
|
—
|
|
|
91,080
|
|
|
90,909
|
|
|
—
|
|
|
90,909
|
|
||||||
|
|
|
|
$
|
413,149
|
|
|
$
|
192,660
|
|
|
$
|
220,489
|
|
|
$
|
441,786
|
|
|
$
|
202,311
|
|
|
$
|
239,475
|
|
|
Cortland
|
|
Viking
|
|
maximatecc
|
|
Total
|
||||||||
Goodwill
|
$
|
34,502
|
|
|
$
|
39,099
|
|
|
$
|
44,521
|
|
|
$
|
118,122
|
|
Indefinite lived intangible assets
|
2,211
|
|
|
13,289
|
|
|
1,153
|
|
|
16,653
|
|
||||
Amortizable intangible assets
|
—
|
|
|
27,952
|
|
|
—
|
|
|
27,952
|
|
||||
Fixed assets
|
—
|
|
|
23,784
|
|
|
—
|
|
|
23,784
|
|
||||
|
$
|
36,713
|
|
|
$
|
104,124
|
|
|
$
|
45,674
|
|
|
$
|
186,511
|
|
|
August 31,
|
||||||
|
2017
|
|
2016
|
||||
Senior Credit Facility
|
|
|
|
||||
Revolver
|
$
|
—
|
|
|
$
|
—
|
|
Term Loan
|
277,500
|
|
|
296,250
|
|
||
|
277,500
|
|
|
296,250
|
|
||
5.625% Senior Notes
|
287,559
|
|
|
288,059
|
|
||
Total Senior Indebtedness
|
565,059
|
|
|
584,309
|
|
||
Less: current maturities of long-term debt
|
(30,000
|
)
|
|
(18,750
|
)
|
||
Debt issuance costs
|
(3,119
|
)
|
|
(3,878
|
)
|
||
Total long-term debt, less current maturities
|
$
|
531,940
|
|
|
$
|
561,681
|
|
|
Year Ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Foreign currency losses, net
|
$
|
(2,962
|
)
|
|
$
|
(1,520
|
)
|
|
$
|
(95
|
)
|
|
2017
|
|
2016
|
||||
Reconciliation of benefit obligations:
|
|
|
|
||||
Benefit obligation at beginning of year
|
$
|
50,409
|
|
|
$
|
45,612
|
|
Interest cost
|
1,690
|
|
|
1,970
|
|
||
Actuarial (gain) loss
|
(1,997
|
)
|
|
5,604
|
|
||
Benefits paid
|
(3,296
|
)
|
|
(2,777
|
)
|
||
Benefit obligation at end of year
|
$
|
46,806
|
|
|
$
|
50,409
|
|
Reconciliation of plan assets:
|
|
|
|
||||
Fair value of plan assets at beginning of year
|
$
|
39,489
|
|
|
$
|
39,181
|
|
Actual return on plan assets
|
3,599
|
|
|
2,687
|
|
||
Company contributions
|
235
|
|
|
398
|
|
||
Benefits paid from plan assets
|
(3,296
|
)
|
|
(2,777
|
)
|
||
Fair value of plan assets at end of year
|
40,027
|
|
|
39,489
|
|
||
Funded status of the plans (underfunded)
|
$
|
(6,779
|
)
|
|
$
|
(10,920
|
)
|
|
Year ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Interest cost
|
$
|
1,690
|
|
|
$
|
1,970
|
|
|
$
|
1,920
|
|
Expected return on assets
|
(2,867
|
)
|
|
(2,997
|
)
|
|
(3,143
|
)
|
|||
Amortization of actuarial loss
|
1,141
|
|
|
837
|
|
|
828
|
|
|||
Net periodic benefit income
|
$
|
(36
|
)
|
|
$
|
(190
|
)
|
|
$
|
(395
|
)
|
|
2017
|
|
2016
|
|
2015
|
|||
Assumptions for benefit obligations:
|
|
|
|
|
|
|||
Discount rate
|
3.60
|
%
|
|
3.45
|
%
|
|
4.45
|
%
|
Assumptions for net periodic benefit cost:
|
|
|
|
|
|
|||
Discount rate
|
3.45
|
%
|
|
4.45
|
%
|
|
4.15
|
%
|
Expected return on plan assets
|
7.15
|
%
|
|
7.40
|
%
|
|
7.50
|
%
|
|
|
Year Ended August 31,
|
||||||||||||
|
|
2017
|
|
%
|
|
2016
|
|
%
|
||||||
Cash and cash equivalents
|
|
$
|
395
|
|
|
1.0
|
%
|
|
$
|
347
|
|
|
0.9
|
%
|
Fixed income securities:
|
|
|
|
|
|
|
|
|
||||||
Corporate bonds
|
|
8,475
|
|
|
21.2
|
|
|
8,372
|
|
|
21.2
|
|
||
Mutual funds
|
|
3,139
|
|
|
7.8
|
|
|
3,351
|
|
|
8.5
|
|
||
|
|
11,614
|
|
|
29.0
|
|
|
11,723
|
|
|
29.7
|
|
||
Equity securities:
|
|
|
|
|
|
|
|
|
||||||
Mutual funds
|
|
28,018
|
|
|
70.0
|
|
|
27,419
|
|
|
69.4
|
|
||
Total plan assets
|
|
$
|
40,027
|
|
|
100.0
|
%
|
|
$
|
39,489
|
|
|
100.0
|
%
|
|
|
August 31,
|
||||||
|
|
2017
|
|
2016
|
||||
Benefit obligation
|
|
$
|
14,645
|
|
|
$
|
16,808
|
|
Fair value of plan assets
|
|
7,950
|
|
|
8,502
|
|
||
Funded status of plans (underfunded)
|
|
$
|
(6,695
|
)
|
|
$
|
(8,306
|
)
|
|
Year ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Currently payable:
|
|
|
|
|
|
||||||
Federal
|
$
|
(14,769
|
)
|
|
$
|
2,205
|
|
|
$
|
(126
|
)
|
Foreign
|
15,665
|
|
|
11,838
|
|
|
21,200
|
|
|||
State
|
(850
|
)
|
|
912
|
|
|
(1,616
|
)
|
|||
|
46
|
|
|
14,955
|
|
|
19,458
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
603
|
|
|
(12,470
|
)
|
|
(4,416
|
)
|
|||
Foreign
|
(16,837
|
)
|
|
(23,797
|
)
|
|
(9,199
|
)
|
|||
State
|
(290
|
)
|
|
(3,858
|
)
|
|
(324
|
)
|
|||
|
(16,524
|
)
|
|
(40,125
|
)
|
|
(13,939
|
)
|
|||
Income tax (benefit) expense
|
$
|
(16,478
|
)
|
|
$
|
(25,170
|
)
|
|
$
|
5,519
|
|
|
Year ended August 31,
|
|||||||
|
2017
|
|
2016
|
|
2015
|
|||
Federal statutory rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes, net of Federal effect
|
1.1
|
|
|
1.2
|
|
|
(0.2
|
)
|
Net effects of foreign tax rate differential and credits
(1)
|
(2.7
|
)
|
|
1.6
|
|
|
(58.4
|
)
|
Domestic manufacturing deduction
|
0.6
|
|
|
0.3
|
|
|
(5.1
|
)
|
Foreign branch currency (gains) losses
|
(0.3
|
)
|
|
4.9
|
|
|
—
|
|
Impairment and other divestiture charges
(2)
|
(11.2
|
)
|
|
(27.0
|
)
|
|
78.6
|
|
Valuation allowance additions and releases
(3)
|
(16.2
|
)
|
|
(0.7
|
)
|
|
15.5
|
|
Changes in liability for unrecognized tax benefits
(4)
|
(3.7
|
)
|
|
(0.9
|
)
|
|
(42.1
|
)
|
Taxable liquidation of foreign subsidiaries
(5)
|
22.1
|
|
|
—
|
|
|
—
|
|
Foreign non-deductible expenses
|
(4.6
|
)
|
|
—
|
|
|
—
|
|
Changes in tax rates
|
(2.1
|
)
|
|
—
|
|
|
—
|
|
Business divestitures
|
—
|
|
|
3.9
|
|
|
—
|
|
Other items
|
1.9
|
|
|
1.0
|
|
|
(1.6
|
)
|
Effective income tax rate
|
19.9
|
%
|
|
19.3
|
%
|
|
21.7
|
%
|
|
August 31,
|
||||||
|
2017
|
|
2016
|
||||
Deferred income tax assets:
|
|
|
|
||||
Operating loss and tax credit carryforwards
|
$
|
41,985
|
|
|
$
|
36,761
|
|
Compensation related liabilities
|
17,319
|
|
|
25,086
|
|
||
Postretirement benefits
|
14,359
|
|
|
8,727
|
|
||
Inventory
|
2,958
|
|
|
3,044
|
|
||
Book reserves and other items
|
14,224
|
|
|
8,317
|
|
||
Total deferred income tax assets
|
90,845
|
|
|
81,935
|
|
||
Valuation allowance
|
(22,671
|
)
|
|
(8,147
|
)
|
||
Net deferred income tax assets
|
68,174
|
|
|
73,788
|
|
||
Deferred income tax liabilities:
|
|
|
|
||||
Depreciation and amortization
|
(77,548
|
)
|
|
(83,020
|
)
|
||
Other items
|
(1,910
|
)
|
|
(5,493
|
)
|
||
Deferred income tax liabilities
|
(79,458
|
)
|
|
(88,513
|
)
|
||
Net deferred income tax liability
|
$
|
(11,284
|
)
|
|
$
|
(14,725
|
)
|
|
2017
|
|
2016
|
|
2015
|
||||||
Beginning balance
|
$
|
29,174
|
|
|
$
|
29,924
|
|
|
$
|
39,509
|
|
Increases based on tax positions related to the current year
|
6,057
|
|
|
1,050
|
|
|
2,183
|
|
|||
Increase for tax positions taken in a prior period
|
297
|
|
|
475
|
|
|
8,935
|
|
|||
Decrease for tax positions taken in a prior period
|
(627
|
)
|
|
—
|
|
|
(633
|
)
|
|||
Decrease due to lapse of statute of limitations
|
(4,008
|
)
|
|
(1,027
|
)
|
|
(4,464
|
)
|
|||
Decrease due to settlements
|
—
|
|
|
—
|
|
|
(14,180
|
)
|
|||
Changes in foreign currency exchange rates
|
553
|
|
|
(1,248
|
)
|
|
(1,426
|
)
|
|||
Ending balance
|
$
|
31,446
|
|
|
$
|
29,174
|
|
|
$
|
29,924
|
|
|
Year Ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Domestic
|
$
|
12,635
|
|
|
$
|
(19,182
|
)
|
|
$
|
14,593
|
|
Foreign
|
(95,326
|
)
|
|
(111,162
|
)
|
|
10,798
|
|
|||
|
$
|
(82,691
|
)
|
|
$
|
(130,344
|
)
|
|
$
|
25,391
|
|
|
Year Ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Numerator:
|
|
|
|
|
|
||||||
Net (loss) earnings
|
$
|
(66,213
|
)
|
|
$
|
(105,174
|
)
|
|
$
|
19,872
|
|
Denominator:
|
|
|
|
|
|
||||||
Weighted average common shares outstanding - basic
|
59,436
|
|
|
59,010
|
|
|
61,262
|
|
|||
Net effect of dilutive securities - stock based compensation plans
|
—
|
|
|
—
|
|
|
793
|
|
|||
Weighted average common shares outstanding - diluted
|
59,436
|
|
|
59,010
|
|
|
62,055
|
|
|||
|
|
|
|
|
|
||||||
Basic (Loss) Earnings Per Share:
|
$
|
(1.11
|
)
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
Diluted (Loss) Earnings Per Share:
|
$
|
(1.11
|
)
|
|
$
|
(1.78
|
)
|
|
$
|
0.32
|
|
|
|
|
|
|
|
||||||
Anti-dilutive securities- stock based compensation plans (excluding from earnings per share calculation
) (1)
|
4,482
|
|
|
4,832
|
|
|
2,056
|
|
|
|
Shares
|
|
Weighted-Average
Exercise Price (Per Share) |
|
Weighted-Average
Remaining Contractual Term |
|
Aggregate
Intrinsic Value |
|||||
Outstanding on September 1, 2016
|
|
3,478,062
|
|
|
$
|
23.96
|
|
|
|
|
|
||
Granted
|
|
307,390
|
|
|
26.95
|
|
|
|
|
|
|||
Exercised
|
|
(461,355
|
)
|
|
21.65
|
|
|
|
|
|
|||
Forfeited
|
|
(132,467
|
)
|
|
28.34
|
|
|
|
|
|
|||
Outstanding on August 31, 2017
|
|
3,191,630
|
|
|
$
|
24.40
|
|
|
4.8
|
|
$
|
5.6
|
million
|
Exercisable on August 31, 2017
|
|
2,340,204
|
|
|
$
|
24.22
|
|
|
3.6
|
|
$
|
5.0
|
million
|
|
Year Ended August 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Weighted-average fair value of options granted (per share)
|
$
|
11.88
|
|
|
$
|
8.63
|
|
|
$
|
8.35
|
|
Intrinsic value of options exercised
|
2,208
|
|
|
989
|
|
|
366
|
|
|||
Cash receipts from exercise of options
|
7,762
|
|
|
3,564
|
|
|
1,147
|
|
|
Number of
Shares |
|
Weighted-Average Fair Value at Grant Date (Per Share)
|
|
Outstanding on August 31, 2016
|
1,353,505
|
|
|
$25.21
|
Granted
|
474,071
|
|
|
26.13
|
Forfeited
|
(76,338
|
)
|
|
27.01
|
Vested
|
(460,790
|
)
|
|
26.65
|
Outstanding on August 31, 2017
|
1,290,448
|
|
|
24.95
|
|
Fiscal Year Ended August 31,
|
|||||||
|
2017
|
|
2016
|
|
2015
|
|||
Dividend yield
|
0.15
|
%
|
|
0.19
|
%
|
|
0.15
|
%
|
Expected volatility
|
38.12
|
%
|
|
38.06
|
%
|
|
37.80
|
%
|
Risk-free rate of return
|
2.42
|
%
|
|
2.06
|
%
|
|
1.19
|
%
|
Expected forfeiture rate
|
11
|
%
|
|
13
|
%
|
|
14
|
%
|
Expected life
|
7.6 years
|
|
|
6.1 years
|
|
|
6.1 years
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Sales by Reportable Product Line & Segment:
|
|
|
|
|
|
|
||||||
Industrial Segment:
|
|
|
|
|
|
|
||||||
Industrial Tools
|
|
$
|
335,569
|
|
|
$
|
314,832
|
|
|
$
|
355,170
|
|
Heavy Lifting Technology
|
|
44,186
|
|
|
44,985
|
|
|
47,294
|
|
|||
|
|
379,755
|
|
|
359,817
|
|
|
402,464
|
|
|||
Energy Segment:
|
|
|
|
|
|
|
||||||
Energy Maintenance & Integrity
|
|
225,716
|
|
|
278,881
|
|
|
246,357
|
|
|||
Other Energy Services
|
|
83,878
|
|
|
113,849
|
|
|
165,518
|
|
|||
|
|
309,594
|
|
|
392,731
|
|
|
411,875
|
|
|||
Engineered Solutions Segment:
|
|
|
|
|
|
|
||||||
On-Highway
|
|
215,831
|
|
|
209,575
|
|
|
220,889
|
|
|||
Agriculture, Off-Highway and Other
|
|
190,604
|
|
|
187,287
|
|
|
214,026
|
|
|||
|
|
406,435
|
|
|
396,862
|
|
|
434,915
|
|
|||
|
|
$
|
1,095,784
|
|
|
$
|
1,149,410
|
|
|
$
|
1,249,254
|
|
|
|
|
|
|
|
|
||||||
Operating (Loss) Profit:
|
|
|
|
|
|
|
||||||
Industrial
|
|
$
|
84,936
|
|
|
$
|
79,773
|
|
|
$
|
105,652
|
|
Energy
(1)
|
|
(119,020
|
)
|
|
(107,528
|
)
|
|
(41,351
|
)
|
|||
Engineered Solutions
(2)
|
|
16,883
|
|
|
(42,991
|
)
|
|
19,789
|
|
|||
General Corporate
|
|
(33,035
|
)
|
|
(29,471
|
)
|
|
(30,536
|
)
|
|||
|
|
$
|
(50,236
|
)
|
|
$
|
(100,217
|
)
|
|
$
|
53,554
|
|
|
|
August 31,
|
||||||
|
|
2017
|
|
2016
|
||||
Assets:
|
|
|
|
|
||||
Industrial
|
|
$
|
329,134
|
|
|
$
|
308,222
|
|
Energy
|
|
482,963
|
|
|
479,169
|
|
||
Engineered Solutions
|
|
531,068
|
|
|
493,840
|
|
||
General Corporate
|
|
173,790
|
|
|
157,429
|
|
||
|
|
$
|
1,516,955
|
|
|
$
|
1,438,660
|
|
|
|
Year Ended August 31,
|
||||||||||
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Sales:
|
|
|
|
|
|
|
||||||
United States
|
|
$
|
480,801
|
|
|
$
|
477,670
|
|
|
$
|
526,061
|
|
Netherlands
|
|
130,724
|
|
|
143,517
|
|
|
139,432
|
|
|||
United Kingdom
|
|
84,106
|
|
|
115,183
|
|
|
113,743
|
|
|||
Australia
|
|
38,924
|
|
|
62,779
|
|
|
94,319
|
|
|||
UAE
|
|
39,974
|
|
|
55,906
|
|
|
44,211
|
|
|||
All other
|
|
321,255
|
|
|
294,355
|
|
|
331,489
|
|
|||
|
|
$
|
1,095,784
|
|
|
$
|
1,149,410
|
|
|
$
|
1,249,254
|
|
|
|
August 31,
|
||||||
|
|
2017
|
|
2016
|
||||
Long-lived Assets:
|
|
|
|
|
||||
United States
|
|
$
|
36,254
|
|
|
$
|
32,205
|
|
China
|
|
16,332
|
|
|
16,863
|
|
||
Netherlands
|
|
9,134
|
|
|
8,027
|
|
||
UAE
|
|
8,451
|
|
|
8,399
|
|
||
United Kingdom
|
|
5,467
|
|
|
9,914
|
|
||
Australia
|
|
1,286
|
|
|
15,399
|
|
||
All other
|
|
21,410
|
|
|
34,399
|
|
||
|
|
$
|
98,334
|
|
|
$
|
117,179
|
|
|
|
Year Ended August 31, 2017
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Net sales
|
|
$
|
145,223
|
|
|
$
|
355,989
|
|
|
$
|
594,572
|
|
|
$
|
—
|
|
|
$
|
1,095,784
|
|
Cost of products sold
|
|
34,300
|
|
|
260,700
|
|
|
421,067
|
|
|
—
|
|
|
716,067
|
|
|||||
Gross profit
|
|
110,923
|
|
|
95,289
|
|
|
173,505
|
|
|
—
|
|
|
379,717
|
|
|||||
Selling, administrative and engineering expenses
|
|
74,996
|
|
|
69,826
|
|
|
132,666
|
|
|
—
|
|
|
277,488
|
|
|||||
Amortization of intangible assets
|
|
1,272
|
|
|
11,715
|
|
|
7,487
|
|
|
—
|
|
|
20,474
|
|
|||||
Restructuring charges
|
|
826
|
|
|
1,359
|
|
|
5,043
|
|
|
—
|
|
|
7,228
|
|
|||||
Director & officer transition charges
|
|
7,784
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,784
|
|
|||||
Impairment & other divestiture charges
|
|
—
|
|
|
—
|
|
|
116,979
|
|
|
—
|
|
|
116,979
|
|
|||||
Operating profit (loss)
|
|
26,045
|
|
|
12,389
|
|
|
(88,670
|
)
|
|
—
|
|
|
(50,236
|
)
|
|||||
Financing costs, net
|
|
30,005
|
|
|
35
|
|
|
(337
|
)
|
|
—
|
|
|
29,703
|
|
|||||
Intercompany (income) expense, net
|
|
(22,941
|
)
|
|
22,066
|
|
|
875
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany dividends
|
|
5,353
|
|
|
(59,401
|
)
|
|
(5,353
|
)
|
|
59,401
|
|
|
—
|
|
|||||
Other expense (income), net
|
|
2,690
|
|
|
87
|
|
|
(25
|
)
|
|
—
|
|
|
2,752
|
|
|||||
Earnings (loss) before income tax benefit
|
|
10,938
|
|
|
49,602
|
|
|
(83,830
|
)
|
|
(59,401
|
)
|
|
(82,691
|
)
|
|||||
Income tax benefit
|
|
(782
|
)
|
|
(14,574
|
)
|
|
(1,122
|
)
|
|
—
|
|
|
(16,478
|
)
|
|||||
Net earnings (loss) before equity in (loss) earnings of subsidiaries
|
|
11,720
|
|
|
64,176
|
|
|
(82,708
|
)
|
|
(59,401
|
)
|
|
(66,213
|
)
|
|||||
Equity in (loss) earnings of subsidiaries
|
|
(77,933
|
)
|
|
(81,389
|
)
|
|
3,335
|
|
|
155,987
|
|
|
—
|
|
|||||
Net loss
|
|
(66,213
|
)
|
|
(17,213
|
)
|
|
(79,373
|
)
|
|
96,586
|
|
|
(66,213
|
)
|
|||||
Comprehensive loss
|
|
$
|
(41,651
|
)
|
|
$
|
(35,121
|
)
|
|
$
|
(39,942
|
)
|
|
$
|
75,063
|
|
|
$
|
(41,651
|
)
|
|
|
Year Ended August 31, 2016
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Net sales
|
|
$
|
135,679
|
|
|
$
|
361,209
|
|
|
$
|
652,522
|
|
|
$
|
—
|
|
|
$
|
1,149,410
|
|
Cost of products sold
|
|
34,576
|
|
|
263,197
|
|
|
448,240
|
|
|
—
|
|
|
746,013
|
|
|||||
Gross profit
|
|
101,103
|
|
|
98,012
|
|
|
204,282
|
|
|
—
|
|
|
403,397
|
|
|||||
Selling, administrative and engineering expenses
|
|
69,677
|
|
|
69,382
|
|
|
135,438
|
|
|
—
|
|
|
274,497
|
|
|||||
Restructuring charges
|
|
2,426
|
|
|
3,455
|
|
|
8,690
|
|
|
—
|
|
|
14,571
|
|
|||||
Amortization of intangible assets
|
|
1,272
|
|
|
13,287
|
|
|
8,384
|
|
|
—
|
|
|
22,943
|
|
|||||
Loss on product line divestiture
|
|
—
|
|
|
5,092
|
|
|
—
|
|
|
—
|
|
|
5,092
|
|
|||||
Impairment charges
|
|
—
|
|
|
49,012
|
|
|
137,499
|
|
|
—
|
|
|
186,511
|
|
|||||
Operating profit (loss)
|
|
27,728
|
|
|
(42,216
|
)
|
|
(85,729
|
)
|
|
—
|
|
|
(100,217
|
)
|
|||||
Financing costs, net
|
|
30,123
|
|
|
—
|
|
|
(1,355
|
)
|
|
—
|
|
|
28,768
|
|
|||||
Intercompany (income) expense, net
|
|
(20,445
|
)
|
|
(9,999
|
)
|
|
30,444
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany dividends
|
|
—
|
|
|
—
|
|
|
(5,338
|
)
|
|
5,338
|
|
|
—
|
|
|||||
Other expense, net
|
|
914
|
|
|
54
|
|
|
391
|
|
|
—
|
|
|
1,359
|
|
|||||
Earnings (loss) before income taxes
|
|
17,136
|
|
|
(32,271
|
)
|
|
(109,871
|
)
|
|
(5,338
|
)
|
|
(130,344
|
)
|
|||||
Income tax (benefit) expense
|
|
(8,729
|
)
|
|
519
|
|
|
(17,046
|
)
|
|
86
|
|
|
(25,170
|
)
|
|||||
Net earnings (loss) before equity in (loss) earnings of subsidiaries
|
|
25,865
|
|
|
(32,790
|
)
|
|
(92,825
|
)
|
|
(5,424
|
)
|
|
(105,174
|
)
|
|||||
Equity in (loss) earnings of subsidiaries
|
|
(131,037
|
)
|
|
(83,747
|
)
|
|
3,024
|
|
|
211,760
|
|
|
—
|
|
|||||
Net loss
|
|
(105,174
|
)
|
|
(116,537
|
)
|
|
(89,801
|
)
|
|
206,336
|
|
|
(105,174
|
)
|
|||||
Comprehensive loss
|
|
$
|
(143,357
|
)
|
|
$
|
(157,344
|
)
|
|
$
|
(83,802
|
)
|
|
$
|
241,146
|
|
|
$
|
(143,357
|
)
|
|
|
Year Ended August 31, 2015
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Net sales
|
|
$
|
158,836
|
|
|
$
|
385,476
|
|
|
$
|
704,942
|
|
|
$
|
—
|
|
|
$
|
1,249,254
|
|
Cost of products sold
|
|
40,858
|
|
|
280,081
|
|
|
466,474
|
|
|
—
|
|
|
787,413
|
|
|||||
Gross profit
|
|
117,978
|
|
|
105,395
|
|
|
238,468
|
|
|
—
|
|
|
461,841
|
|
|||||
Selling, administrative and engineering expenses
|
|
74,588
|
|
|
69,041
|
|
|
155,972
|
|
|
—
|
|
|
299,601
|
|
|||||
Impairment charges
|
|
—
|
|
|
20,249
|
|
|
64,104
|
|
|
—
|
|
|
84,353
|
|
|||||
Amortization of intangible assets
|
|
1,272
|
|
|
13,061
|
|
|
10,000
|
|
|
—
|
|
|
24,333
|
|
|||||
Operating profit
|
|
42,118
|
|
|
3,044
|
|
|
8,392
|
|
|
—
|
|
|
53,554
|
|
|||||
Financing costs, net
|
|
29,295
|
|
|
—
|
|
|
(1,238
|
)
|
|
—
|
|
|
28,057
|
|
|||||
Intercompany (income) expense, net
|
|
(19,727
|
)
|
|
(8,835
|
)
|
|
28,562
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany dividends
|
|
(212
|
)
|
|
(243
|
)
|
|
(10,707
|
)
|
|
11,162
|
|
|
—
|
|
|||||
Other expense (income), net
|
|
160
|
|
|
(84
|
)
|
|
30
|
|
|
—
|
|
|
106
|
|
|||||
Earnings (loss) before income taxes
|
|
32,602
|
|
|
12,206
|
|
|
(8,255
|
)
|
|
(11,162
|
)
|
|
25,391
|
|
|||||
Income tax (benefit) expense
|
|
(8,218
|
)
|
|
4,056
|
|
|
10,939
|
|
|
(1,258
|
)
|
|
5,519
|
|
|||||
Net earnings (loss) before equity in earnings (loss) of subsidiaries
|
|
40,820
|
|
|
8,150
|
|
|
(19,194
|
)
|
|
(9,904
|
)
|
|
19,872
|
|
|||||
Equity in earnings (loss) of subsidiaries
|
|
(20,948
|
)
|
|
(1,720
|
)
|
|
6,520
|
|
|
16,148
|
|
|
—
|
|
|||||
Net earnings (loss)
|
|
19,872
|
|
|
6,430
|
|
|
(12,674
|
)
|
|
6,244
|
|
|
19,872
|
|
|||||
Comprehensive loss
|
|
$
|
(125,360
|
)
|
|
$
|
(10,689
|
)
|
|
$
|
(88,431
|
)
|
|
$
|
99,120
|
|
|
$
|
(125,360
|
)
|
|
|
Year Ended August 31, 2017
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Operating Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net cash provided by operating activities
|
|
$
|
98,589
|
|
|
$
|
14,340
|
|
|
$
|
39,672
|
|
|
$
|
(64,754
|
)
|
|
$
|
87,847
|
|
Investing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Capital expenditures
|
|
(3,391
|
)
|
|
(9,265
|
)
|
|
(15,539
|
)
|
|
—
|
|
|
(28,195
|
)
|
|||||
Proceeds from sale of property, plant and equipment
|
|
—
|
|
|
207
|
|
|
363
|
|
|
—
|
|
|
570
|
|
|||||
Intercompany investment
|
|
(6,900
|
)
|
|
—
|
|
|
—
|
|
|
6,900
|
|
|
—
|
|
|||||
Cash used in investing activities
|
|
(10,291
|
)
|
|
(9,058
|
)
|
|
(15,176
|
)
|
|
6,900
|
|
|
(27,625
|
)
|
|||||
Financing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Principal repayment on term loan
|
|
(18,750
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(18,750
|
)
|
|||||
Redemption on 5.625% Senior Notes
|
|
(500
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(500
|
)
|
|||||
Taxes paid related to the net share settlement of equity awards
|
|
(1,065
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,065
|
)
|
|||||
Stock option exercises, related tax benefits and other
|
|
8,917
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,917
|
|
|||||
Payment of contingent acquisition consideration
|
|
—
|
|
|
—
|
|
|
(742
|
)
|
|
—
|
|
|
(742
|
)
|
|||||
Cash dividend
|
|
(2,358
|
)
|
|
(5,353
|
)
|
|
(59,401
|
)
|
|
64,754
|
|
|
(2,358
|
)
|
|||||
Intercompany loan activity
|
|
(47,780
|
)
|
|
—
|
|
|
47,780
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany capital contributions
|
|
—
|
|
|
—
|
|
|
6,900
|
|
|
(6,900
|
)
|
|
—
|
|
|||||
Cash used in financing activities
|
|
(61,536
|
)
|
|
(5,353
|
)
|
|
(5,463
|
)
|
|
57,854
|
|
|
(14,498
|
)
|
|||||
Effect of exchange rate changes on cash
|
|
—
|
|
|
—
|
|
|
4,243
|
|
|
—
|
|
|
4,243
|
|
|||||
Net increase (decrease) in cash and cash equivalents
|
|
26,762
|
|
|
(71
|
)
|
|
23,276
|
|
|
—
|
|
|
49,967
|
|
|||||
Cash and cash equivalents—beginning of period
|
|
7,953
|
|
|
71
|
|
|
171,580
|
|
|
—
|
|
|
179,604
|
|
|||||
Cash and cash equivalents—end of period
|
|
$
|
34,715
|
|
|
$
|
—
|
|
|
$
|
194,856
|
|
|
$
|
—
|
|
|
$
|
229,571
|
|
|
|
Year Ended August 31, 2016
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Operating Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net cash provided by (used in) operating activities
|
|
$
|
58,926
|
|
|
$
|
(1,953
|
)
|
|
$
|
66,062
|
|
|
$
|
(5,338
|
)
|
|
$
|
117,697
|
|
Investing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Capital expenditures
|
|
(2,135
|
)
|
|
(6,781
|
)
|
|
(11,293
|
)
|
|
—
|
|
|
(20,209
|
)
|
|||||
Proceeds from sale of property, plant and equipment
|
|
13
|
|
|
7,000
|
|
|
2,283
|
|
|
—
|
|
|
9,296
|
|
|||||
Intercompany investment
|
|
(339
|
)
|
|
(3,458
|
)
|
|
—
|
|
|
3,797
|
|
|
—
|
|
|||||
Business acquisitions, net of cash acquired
|
|
—
|
|
|
—
|
|
|
(81,916
|
)
|
|
—
|
|
|
(81,916
|
)
|
|||||
Proceeds from sale of businesses, net of transaction costs
|
|
—
|
|
|
9,695
|
|
|
—
|
|
|
—
|
|
|
9,695
|
|
|||||
Cash (used in) provided by investing activities
|
|
(2,461
|
)
|
|
6,456
|
|
|
(90,926
|
)
|
|
3,797
|
|
|
(83,134
|
)
|
|||||
Financing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net repayments on revolving credit facility
|
|
—
|
|
|
—
|
|
|
(210
|
)
|
|
—
|
|
|
(210
|
)
|
|||||
Principal repayments on term loan
|
|
(3,750
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,750
|
)
|
|||||
Purchase of treasury shares
|
|
(17,101
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17,101
|
)
|
|||||
Taxes paid related to the net share settlement of equity awards
|
|
(1,409
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,409
|
)
|
|||||
Stock option exercises, related tax benefits and other
|
|
6,416
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,416
|
|
|||||
Cash dividend
|
|
(2,376
|
)
|
|
(5,338
|
)
|
|
—
|
|
|
5,338
|
|
|
(2,376
|
)
|
|||||
Intercompany loan activity
|
|
(48,980
|
)
|
|
—
|
|
|
48,980
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany capital contributions
|
|
—
|
|
|
339
|
|
|
3,458
|
|
|
(3,797
|
)
|
|
—
|
|
|||||
Cash (used in) provided by financing activities
|
|
(67,200
|
)
|
|
(4,999
|
)
|
|
52,228
|
|
|
1,541
|
|
|
(18,430
|
)
|
|||||
Effect of exchange rate changes on cash
|
|
—
|
|
|
—
|
|
|
(5,375
|
)
|
|
—
|
|
|
(5,375
|
)
|
|||||
Net (decrease) increase in cash and cash equivalents
|
|
(10,735
|
)
|
|
(496
|
)
|
|
21,989
|
|
|
—
|
|
|
10,758
|
|
|||||
Cash and cash equivalents—beginning of period
|
|
18,688
|
|
|
567
|
|
|
149,591
|
|
|
—
|
|
|
168,846
|
|
|||||
Cash and cash equivalents—end of period
|
|
$
|
7,953
|
|
|
$
|
71
|
|
|
$
|
171,580
|
|
|
$
|
—
|
|
|
$
|
179,604
|
|
|
|
Year Ended August 31, 2015
|
||||||||||||||||||
|
|
Parent
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
||||||||||
Operating Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net cash provided by (used in) operating activities
|
|
$
|
90,632
|
|
|
$
|
(20,750
|
)
|
|
$
|
72,228
|
|
|
$
|
(10,676
|
)
|
|
$
|
131,434
|
|
Investing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Capital expenditures
|
|
(1,086
|
)
|
|
(5,848
|
)
|
|
(15,582
|
)
|
|
—
|
|
|
(22,516
|
)
|
|||||
Proceeds from sale of property, plant and equipment
|
|
—
|
|
|
273
|
|
|
971
|
|
|
—
|
|
|
1,244
|
|
|||||
Intercompany investment
|
|
(3,727
|
)
|
|
—
|
|
|
—
|
|
|
3,727
|
|
|
—
|
|
|||||
Cash used in investing activities
|
|
(4,813
|
)
|
|
(5,575
|
)
|
|
(14,611
|
)
|
|
3,727
|
|
|
(21,272
|
)
|
|||||
Financing Activities
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net borrowings on revolving credit facility
|
|
—
|
|
|
—
|
|
|
220
|
|
|
—
|
|
|
220
|
|
|||||
Principal repayment on term loan
|
|
(3,375
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,375
|
)
|
|||||
Proceeds from term loans
|
|
213,375
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
213,375
|
|
|||||
Redemption of 5.625% Senior Notes
|
|
(11,941
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11,941
|
)
|
|||||
Debt issuance costs
|
|
(2,025
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,025
|
)
|
|||||
Purchase of treasury shares
|
|
(212,003
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(212,003
|
)
|
|||||
Taxes paid related to net share settlement of equity awards
|
|
(2,466
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,466
|
)
|
|||||
Stock option exercises, related tax benefits and other
|
|
5,396
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,396
|
|
|||||
Cash dividend
|
|
(2,598
|
)
|
|
(10,676
|
)
|
|
—
|
|
|
10,676
|
|
|
(2,598
|
)
|
|||||
Intercompany loan activity
|
|
(79,425
|
)
|
|
34,081
|
|
|
45,344
|
|
|
—
|
|
|
—
|
|
|||||
Intercompany capital contribution
|
|
—
|
|
|
—
|
|
|
3,727
|
|
|
(3,727
|
)
|
|
—
|
|
|||||
Cash (used in) provided by financ
ing activities
|
|
(95,062
|
)
|
|
23,405
|
|
|
49,291
|
|
|
6,949
|
|
|
(15,417
|
)
|
|||||
Effect of exchange rate changes on cash
|
|
—
|
|
|
—
|
|
|
(34,911
|
)
|
|
—
|
|
|
(34,911
|
)
|
|||||
Net (decrease) increase in cash and cash equivalents
|
|
(9,243
|
)
|
|
(2,920
|
)
|
|
71,997
|
|
|
—
|
|
|
59,834
|
|
|||||
Cash and cash equivalents—beginning of period
|
|
27,931
|
|
|
3,487
|
|
|
77,594
|
|
|
—
|
|
|
109,012
|
|
|||||
Cash and cash equivalents—end of period
|
|
$
|
18,688
|
|
|
$
|
567
|
|
|
$
|
149,591
|
|
|
$
|
—
|
|
|
$
|
168,846
|
|
|
|
Year Ended August 31, 2017
|
||||||||||||||||||
|
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
|
Total
|
||||||||||
Net sales
|
|
$
|
265,793
|
|
|
$
|
258,869
|
|
|
$
|
295,427
|
|
|
$
|
275,695
|
|
|
$
|
1,095,784
|
|
Gross profit
|
|
93,067
|
|
|
87,326
|
|
|
102,804
|
|
|
96,520
|
|
|
379,717
|
|
|||||
Net earnings (loss)
|
|
4,965
|
|
|
5,074
|
|
|
22,511
|
|
|
(98,764
|
)
|
|
(66,213
|
)
|
|||||
Net earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Basic
|
|
$
|
0.08
|
|
|
$
|
0.09
|
|
|
$
|
0.38
|
|
|
$
|
(1.65
|
)
|
|
$
|
(1.11
|
)
|
Diluted
|
|
0.08
|
|
|
0.08
|
|
|
0.37
|
|
|
(1.65
|
)
|
|
(1.11
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
Year Ended August 31, 2016
|
||||||||||||||||||
|
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
|
Total
|
||||||||||
Net sales
|
|
$
|
305,011
|
|
|
$
|
263,289
|
|
|
$
|
305,341
|
|
|
$
|
275,769
|
|
|
$
|
1,149,410
|
|
Gross profit
|
|
108,562
|
|
|
91,030
|
|
|
107,526
|
|
|
96,279
|
|
|
403,397
|
|
|||||
Net earnings (loss)
|
|
15,448
|
|
|
(159,190
|
)
|
|
21,166
|
|
|
17,402
|
|
|
(105,174
|
)
|
|||||
Net earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Basic
|
|
$
|
0.26
|
|
|
$
|
(2.70
|
)
|
|
$
|
0.36
|
|
|
$
|
0.30
|
|
|
$
|
(1.78
|
)
|
Diluted
|
|
$
|
0.26
|
|
|
$
|
(2.70
|
)
|
|
$
|
0.36
|
|
|
$
|
0.29
|
|
|
$
|
(1.78
|
)
|
|
|
|
|
Additions
|
|
Deductions
|
|
|
|
|
||||||||||||||
|
|
Balance at
Beginning of Period |
|
Charged to
Costs and Expenses |
|
Acquisition/ (Divestiture)
|
|
Accounts
Written Off Less Recoveries |
|
Other
|
|
Balance at
End of Period |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allowance for losses—Trade accounts receivable
|
|
|
|
|
|
|
|
|
||||||||||||||||
August 31, 2017
|
|
$
|
7,762
|
|
|
$
|
3,112
|
|
|
$
|
1,452
|
|
|
$
|
(1,422
|
)
|
|
$
|
325
|
|
|
$
|
11,229
|
|
August 31, 2016
|
|
3,970
|
|
|
2,274
|
|
|
3,090
|
|
|
(1,580
|
)
|
|
8
|
|
|
7,762
|
|
||||||
August 31, 2015
|
|
6,034
|
|
|
1,633
|
|
|
—
|
|
|
(2,742
|
)
|
|
(955
|
)
|
|
3,970
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Valuation allowance—Income taxes
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
August 31, 2017
|
|
$
|
8,147
|
|
|
$
|
15,144
|
|
|
$
|
—
|
|
|
$
|
(620
|
)
|
|
$
|
—
|
|
|
$
|
22,671
|
|
August 31, 2016
|
|
8,053
|
|
|
852
|
|
|
—
|
|
|
(1,026
|
)
|
|
268
|
|
|
8,147
|
|
||||||
August 31, 2015
|
|
5,608
|
|
|
5,694
|
|
|
—
|
|
|
(2,254
|
)
|
|
(995
|
)
|
|
8,053
|
|
|
A
CTUANT
C
ORPORATION
(Registrant)
|
|
|
|
|
|
By:
|
/
S
/ RICK T. DILLON
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Rick T. Dillon
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Executive Vice President and Chief
Financial Officer
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(Principal Financial Officer)
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Signature
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Title
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/s/ RANDAL W. BAKER
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President and Chief Executive Officer
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Randal W. Baker
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/s/ GURMINDER S. BEDI
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Director
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Gurminder S. Bedi
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/s/ DANNY L. CUNNINGHAM
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Director
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Danny L. Cunningham
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/s/ E. JAMES FERLAND
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Director
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E. James Ferland
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/s/ RICHARD D. HOLDER
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Director
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Richard D. Holder
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/s/ R. ALAN HUNTER, JR
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Director
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R. Alan Hunter, Jr.
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/s/ ROBERT A. PETERSON
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Chairman of the Board of Directors
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Robert A. Peterson
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/s/ HOLLY A. VAN DEURSEN
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Director
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Holly A. Van Deursen
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/s/ DENNIS K. WILLIAMS
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Director
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Dennis K. Williams
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/s/ RICK T. DILLON
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Executive Vice President and Chief Financial Officer (Principal Financial Officer)
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Rick T. Dillon
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/s/ ROBERT A. WROCKLAGE
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Corporate Controller and Principal Accounting Officer
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Robert A. Wrocklage
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Exhibit
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Description
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Incorporated Herein By Reference To
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Filed
Herewith
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Furnished Herewith
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3.1
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Exhibit 4.9 to the Registrant's Form 10-Q for the quarter ended February 28, 2001
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Exhibit 3.1(b) of the Registrant's Form 10-K for the fiscal year ended August 31, 2003
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Exhibit 3.1 to the Registrant's Form 10-K for the fiscal year ended August 31, 2004
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Exhibit 3.1 to the Registrant's Form 8-K filed on July 18, 2006
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Exhibit 3.1 to the Registrant's Form 8-K filed on January 14, 2010
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Amended and Restated Bylaws, as amended
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Exhibit 3.1 of the Registrant's Form 8-K filed on July 23, 2015
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Indenture dated April 16, 2012 by and among Actuant Corporation, the subsidiary guarantors named therein and U.S. Bank National Association as trustee relating to $300 million Actuant Corporation 5
5
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8
% Senior Notes due 2022
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Exhibit 4.1 to the Registrant's Current Report on Form 8-K filed on April 18, 2012
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Fifth Amended and Restated Credit Agreement dated May 8, 2015 among Actuant Corporation, the Lenders party thereto and JP Morgan Chase, N.A. as the agent
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Exhibit 10.1 to the Registrant's Form 10-Q for the quarter ended May 31, 2015
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Amendment No. 1 to the Fifth Amended and Restated Credit Agreement dated June 20, 2017 among Actuant Corporation, the Lenders party thereto and JP Morgan Chase, N.A. as the agent
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Exhibit 4.2(b) to the Registrant’s Form 10-Q for the quarter ended May 31, 2017
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Exhibit
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Description
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Incorporated Herein By Reference To
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Filed
Herewith |
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Furnished Herewith
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Outside Directors’ Deferred Compensation Plan (conformed through the second amendment)
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Exhibit 10.1 to the Registrant's Form 10-Q for the quarter ended November 30, 2014
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Actuant Corporation Deferred Compensation Plan (conformed through the fourth amendment)
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Exhibit 10.2 to the Registrant's Form 10-Q for the quarter ended November 30, 2014
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Actuant Corporation 2010 Employee Stock Purchase Plan
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Exhibit B to the Registrant's Definitive Proxy Statement, dated December 4, 2009
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Actuant Corporation 2017 Omnibus Incentive Plan
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Exhibit A to the Registrant's Definitive Proxy Statement dated December 5, 2016
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Actuant Corporation 2009 Omnibus Incentive Plan, conformed through the Second Amendment thereto
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Exhibit 99.1 to the Registrant's Form 8-K filed on January 17, 2013
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10.6
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Exhibit A to the Registrant's Definitive Proxy Statement, dated December 5, 2005 for the 2006 Annual Meeting of Shareholders
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Exhibit 10.10 to the Registrant's Form 10-Q for the quarter ended November 30, 2008
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Actuant Corporation Supplemental Executive Retirement Plan (conformed through the first amendment)
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Exhibit 10.3 to the Registrant's Form 10-Q for the quarter ended November 30, 2014
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Form of Indemnification Agreement for Directors and Officers
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Exhibit 10.35 to the Registrant's Form 10-K for the fiscal year ended August 31, 2002
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Form of Amended and Restated Actuant Corporation Change in Control Agreement
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Exhibit 10.1 to the Registrant’s Form 8-K filed on August 1, 2017
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Actuant Corporation Executive Officer Bonus Plan
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Exhibit B to the Registrant's Definitive Proxy Statement dated December 3, 2012
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Exhibit
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Description
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Incorporated Herein By Reference To
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Filed
Herewith |
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Furnished Herewith
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10.11
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Exhibit 10.1(a) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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Exhibit 10.1(b) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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10.12
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Exhibit 10.2(a) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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Exhibit 10.2(b) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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10.13
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Exhibit 10.3(a) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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Exhibit 10.3(b) to the Registrant's Form 10-Q for the quarter ended February 28, 2014
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Offer Letter dated August 24, 2015 by and between Actuant Corporation and Robert C. Arzbaecher
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Exhibit 10.1 to the Registrant's Form 8-K filed on August 25, 2015
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Separation and Release Agreement dated August 24, 2015 by and between Actuant Corporation and Mark E. Goldstein
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Exhibit 10.3 to the Registrant's Form 8-K filed on August 25, 2015
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Offer letter dated February 24, 2016 between Actuant Corporation and Randal W. Baker
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Exhibit 10.1 to the Registrant's Form 8-K filed on March 1, 2016
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Separation and Release Agreement dated September 7, 2016 by and between Actuant Corporation and David (Mark) Sefcik
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Exhibit 10.16 of the Registrant’s Form 10-K for the fiscal year ended August 31, 2016
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Exhibit
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Description
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Incorporated Herein By Reference To
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Filed
Herewith |
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Furnished Herewith
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Retirement Agreement by and between Actuant Corporation and Eugene E. Skogg
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Exhibit 10.17 of the Registrant’s Form 10-K for the fiscal year ended August 31, 2016
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Offer Letter by and between Actuant Corporation and Rick T. Dillon
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Exhibit 10.1 to Registrant's Form 8-K filed on November 18, 2016
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Separation Agreement and Release by and between Actuant Corporation and Andrew G. Lampereur
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Exhibit 10.4 to Registrant's Form 8-K filed on November 18, 2016
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Separation and Release Agreement dated October 9, 2017 by and between Actuant Corporation and Eugene E. Skogg
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X
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Separation and Release Agreement dated October 6, 2017 by and between Actuant Corporation and Stephen J. Rennie
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X
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Offer Letter by and between Actuant Corporation and Andre L. Williams
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X
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Separation and Release Agreement dated October 26, 2017 by and between Actuant Corporation and Theodore C. Wozniak
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X
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Code of Ethics Applicable to Senior Financial Executives
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X
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Subsidiaries of the Registrant
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X
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Consent of PricewaterhouseCoopers LLP
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X
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Power of Attorney
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See signature page of this report
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Exhibit
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Description
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Incorporated Herein By Reference To
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Filed
Herewith |
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Furnished Herewith
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Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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X
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Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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X
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Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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X
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Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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X
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The following materials from the Actuant Corporation Form 10-K for the year ended August 31, 2017 formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Statements of Operations, (ii) the Consolidated Statements of Comprehensive Income (Loss), (iii) the Consolidated Balance Sheets, (iv) the Consolidated Statements of Cash Flows and (v) the Notes to Consolidated Financial Statements.
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X
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