| Summary of information about the Company's reportable segments |
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Three Months Ended May 31,
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Nine Months Ended May 31,
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2020
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2019
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2020
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2019
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Revenue
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Adhesives, Sealants and Additives
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$
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22,922
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$
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26,009
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$
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73,184
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$
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78,814
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Industrial Tapes
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31,752
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33,704
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91,931
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98,324
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Corrosion Protection and Waterproofing
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10,197
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12,399
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32,140
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34,108
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Total
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$
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64,871
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$
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72,112
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$
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197,255
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$
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211,246
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Income before income taxes
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Adhesives, Sealants and Additives
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$
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6,704
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$
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7,509
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$
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20,936
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$
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20,530
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(f)
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Industrial Tapes
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9,011
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6,929
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(b)
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24,050
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(d)
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20,980
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(g)
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Corrosion Protection and Waterproofing
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4,149
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4,817
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12,240
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11,667
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Total for reportable segments
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19,864
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19,255
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57,226
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53,177
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Corporate and common costs
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(7,337)
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(a)
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(7,067)
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(c)
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(23,823)
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(e)
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(22,249)
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(h)
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Total
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$
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12,527
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$
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12,188
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$
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33,403
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$
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30,928
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Includes the following costs by segment:
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Adhesives, Sealants and Additives
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Interest
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$
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26
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$
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34
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$
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68
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$
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172
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Depreciation
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199
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356
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791
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1,121
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Amortization
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2,340
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2,341
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7,033
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7,020
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Industrial Tapes
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Interest
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$
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33
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$
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38
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$
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87
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$
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193
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Depreciation
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428
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410
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1,247
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1,304
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Amortization
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450
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450
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1,350
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1,350
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Corrosion Protection and Waterproofing
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Interest
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$
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8
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$
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19
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$
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23
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$
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92
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Depreciation
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144
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161
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449
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500
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Amortization
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108
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323
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341
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969
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(a)
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Includes $760 in gain related to the April 2020 sale of the Company’s Pawtucket, RI location, $183 in severance expense related to the May 2020 reduction in force, $85 in expenses related to the final transition out of the Pawtucket, RI facility, and $75 of pension-related settlement costs due to the timing of lump-sum distribution |
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(b)
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Includes $193 in exit costs related to the movement of the pulling and detection business out of the Granite Falls, NC location and into the Hickory, NC location during the third quarter of fiscal 2019 |
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(c)
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Includes $11 of pension-related settlement costs due to the timing of lump-sum distributions |
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(d)
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Includes $559 in exit costs related to the movement of the pulling and detection business out of the Granite Falls, NC location and into the Hickory, NC location during the first nine months of fiscal 2020 |
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(e)
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Includes $150 of expense related to exploratory IT work performed to assess potential future upgrades to the companywide ERP system, a $760 gain related to the April 2020 sale of the Company’s Pawtucket, RI location, $183 in severance expense related to the May 2020 reduction in force, $85 in expenses related to the final transition out of the Pawtucket, RI facility, and $75 of pension-related settlement costs due to the timing of lump-sum distribution |
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(f)
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Includes $2,410 of loss on impairment of goodwill related to the Company’s polyurethane dispersions business |
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(g)
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Includes $260 of expense related to the closure and exit of the Pawtucket, RI location recognized in the first quarter of fiscal 2019, $193 in exit costs related to the movement of the pulling and detection business out of the Granite Falls, NC location and into the Hickory, NC location during the third quarter of fiscal 2019 |
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(h)
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Includes $484 of pension-related settlement costs due to the timing of lump-sum distributions |
Total assets for the Company’s reportable segments as of May 31, 2020 and August 31, 2019 were:
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May 31,
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August 31,
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2020
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2019
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Total Assets
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Adhesives, Sealants and Additives
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$
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134,353
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$
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135,583
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Industrial Tapes
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70,489
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77,085
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Corrosion Protection and Waterproofing
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31,722
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32,478
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Total for reportable segments
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236,564
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245,146
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Corporate and common assets
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97,306
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62,822
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Total
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$
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333,870
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$
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307,968
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| Schedule of revenue by country |
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Three Months Ended May 31,
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Nine Months Ended May 31,
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2020
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2019
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2020
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2019
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Revenue
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United States
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$
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56,177
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$
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64,046
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$
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171,774
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$
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186,339
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United Kingdom
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5,070
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4,502
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14,489
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12,946
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All other foreign (1)
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3,624
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3,564
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10,992
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11,961
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Total
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$
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64,871
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$
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72,112
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$
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197,255
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$
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211,246
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(1)
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Comprises sales originated from the Company’s Paris, France location, royalty revenue attributable to its licensed manufacturer in Asia, and Chase foreign manufacturing operations. |
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| Schedule of total assets for the Company's reportable segments |
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May 31,
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August 31,
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2020
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2019
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Long-Lived Assets
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United States
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Property, plant and equipment, net
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$
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23,509
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$
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24,993
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Goodwill and Intangible assets, less accumulated amortization
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120,673
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129,057
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United Kingdom
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Property, plant and equipment, net
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2,246
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2,493
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Goodwill and Intangible assets, less accumulated amortization
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4,180
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4,446
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All other foreign
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Property, plant and equipment, net
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901
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1,840
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Goodwill and Intangible assets, less accumulated amortization
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1,194
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1,187
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Total
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Property, plant and equipment, net
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$
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26,656
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$
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29,326
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Goodwill and Intangible assets, less accumulated amortization
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$
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126,047
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$
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134,690
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