Annual report pursuant to Section 13 and 15(d)

Business Segment, Geographic And Customer Information

v2.3.0.15
Business Segment, Geographic And Customer Information
 12 Months Ended
Aug. 31, 2011
Business Segment, Geographic And Customer Information [Abstract]  
Business Segment, Geographic And Customer Information

Note 16.    Business Segment, Geographic and Customer Information

The Company is a global manufacturer of a broad range of industrial products and systems and is organized into four reportable segments: Industrial, Energy, Electrical and Engineered Solutions. The Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets. The Energy segment provides joint integrity products and services, as well as umbilical, rope and cable solutions to the global oil & gas, power generation and energy markets. The Electrical segment designs, manufactures and distributes a broad range of electrical products to the retail DIY, wholesale, OEM, utility, marine and other harsh environment markets. The Engineered Solutions segment provides highly engineered position and motion control systems to OEMs in various vehicle markets, as well as, a variety of other products to the industrial and agricultural markets.

The following tables summarize financial information for continuing operations by reportable segment and product line (in thousands):

 

     Year Ended August 31,  
     2011     2010     2009  

Net Sales by Segment:

       

Industrial

    $ 393,013      $ 299,983      $ 286,851   

Energy

      293,060        235,723        259,490   

Electrical

      286,013        233,702        241,988   

Engineered Solutions

      473,237        391,100        329,296   
  

 

 

    

 

 

    

 

 

  
   $ 1,445,323      $ 1,160,508      $ 1,117,625   
  

 

 

    

 

 

    

 

 

  

Net Sales by Reportable Product Line:

       

Industrial

    $ 393,013      $ 299,983      $ 286,851   

Energy

      293,060        235,723        259,490   

Electrical

      286,013        233,702        241,988   

Vehicle Systems

      328,763        284,633        228,031   

Other

      144,474        106,467        101,265   
  

 

 

    

 

 

    

 

 

  
   $ 1,445,323      $ 1,160,508      $ 1,117,625   
  

 

 

    

 

 

    

 

 

  

Operating Profit:

       

Industrial

    $ 98,415      $ 66,344      $ 67,451   

Energy

      49,345        30,702        44,092   

Electrical

      20,683        19,853        3,327   

Engineered Solutions

      63,612        31,681        (28,432 ) 

General Corporate

      (38,485 )      (26,808 )      (18,710 ) 
  

 

 

    

 

 

    

 

 

  
   $ 193,570      $ 121,772      $ 67,728   
  

 

 

    

 

 

    

 

 

  

Depreciation and Amortization:

         

Industrial

    $ 8,655       $ 6,571       $ 6,413   

Energy

      18,152         17,276         17,322   

Electrical

      9,694         10,470         8,594   

Engineered Solutions

      13,916         14,898         16,763   

General Corporate

      2,579         2,660         2,886   
  

 

 

     

 

 

     

 

 

  
   $ 52,996       $ 51,875       $ 51,978   
  

 

 

     

 

 

     

 

 

  

Capital Expenditures:

         

Industrial

    $ 3,590       $ 779       $ 2,804   

Energy

      8,978         7,212         5,568   

Electrical

      1,953         5,662         3,731   

Engineered Solutions

      5,966         4,517         1,568   

General Corporate

      1,902         1,796         7,783   

Discontinued Operations

      707         —           —     
  

 

 

     

 

 

     

 

 

  
   $ 23,096       $ 19,966       $ 21,454   
  

 

 

     

 

 

     

 

 

  
     August 31,         
     2011      2010         

Assets:

         

Industrial

    $ 263,680       $ 241,036      

Energy

      517,428         491,053      

Electrical

      547,556         326,129      

Engineered Solutions

      632,242         434,976      

General Corporate

      95,775         83,707      

Assets of discontinued operations

      —           44,802      
  

 

 

     

 

 

     
   $ 2,056,681       $ 1,621,703      
  

 

 

     

 

 

     

In addition to the impact of changes in foreign currency exchange rates, the comparability of segment and product line information is impacted by acquisition/divestiture activities, restructuring costs and related benefits and the non-cash asset impairment charges in fiscal 2009 of $26.6 million and $4.7 million in the Engineered Solutions and Electrical segments, respectively. Corporate assets, which are not allocated, principally represent capitalized debt issuance costs, deferred income taxes and the fair value of derivative instruments.

 

The following tables summarize financial information from continuing operations by geographic region (in thousands):

 

     Year Ended August 31,  
     2011      2010      2009  

Net Sales:

         

United States

    $ 702,459       $ 602,546       $ 608,783   

Netherlands

      258,412         164,822         138,733   

Germany

      56,981         42,882         44,647   

United Kingdom

      122,046         98,027         114,342   

All other

      305,425         252,231         211,120   
  

 

 

     

 

 

     

 

 

  
   $ 1,445,323       $ 1,160,508       $ 1,117,625   
  

 

 

     

 

 

     

 

 

  
     August 31,         
     2011      2010         

Long-Lived Assets:

         

United States

    $ 57,413       $ 48,193      

China

      21,022         20,589      

United Kingdom

      20,079         16,440      

Netherlands

      14,880         12,014      

All other

      19,699         15,609      
  

 

 

     

 

 

     
   $ 133,093       $ 112,845      
  

 

 

     

 

 

     

The Company's largest customer accounted for 2.1%, 2.8% and 2.8% of its sales in fiscal 2011, 2010 and 2009, respectively. Export sales from domestic operations were less than 7.5% of total net sales in each of the periods presented.