Annual report pursuant to Section 13 and 15(d)

Business Segment, Geographic and Customer Information

v3.21.2
Business Segment, Geographic and Customer Information
 12 Months Ended
Aug. 31, 2020
Segment Reporting [Abstract]  
Business Segment, Geographic and Customer Information
Note 15.    Business Segment, Geographic and Customer Information
The Company is a global manufacturer of a broad range of industrial products and solutions. The IT&S reportable segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the industrial, maintenance, infrastructure, oil & gas, energy and other markets. The Other segment is included for purposes of reconciliation of the respective balances below to the consolidated financial statements.
The following tables summarize financial information by reportable segment and product line (in thousands):
  Year Ended August 31,
  2021 2020 2019
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 376,353  $ 341,470  $ 433,703 
Service & Rental 116,772  113,393  175,812 
493,125  454,863  609,515 
Other Operating Segment 35,535  38,429  45,243 
$ 528,660  $ 493,292  $ 654,758 
Operating Profit (Loss)
IT&S $ 81,683  $ 65,549  $ 101,411 
Other Operating Segment (10,420) (3,420) (11,821)
General Corporate (20,150) (37,948) (42,076)
$ 51,113  $ 24,181  $ 47,516 
Depreciation and Amortization:
IT&S $ 15,856  $ 14,854  $ 14,762 
Other Operating Segment 3,568  3,620  3,408 
General Corporate 2,187  2,246  2,047 
$ 21,611  $ 20,720  $ 20,217 
Capital Expenditures:
IT&S $ 10,918  $ 7,282  $ 9,945 
Other Operating Segment 768  2,625  3,917 
General Corporate 333  2,146  1,061 
$ 12,019  $ 12,053  $ 14,923 

August 31,
  2021 2020
Assets:
IT&S $ 641,256  $ 592,086 
Other Operating Segment 52,745  61,105 
General Corporate 126,246  171,103 
$ 820,247  $ 824,294 
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, impairment and divestiture charges, restructuring costs and related benefits. Corporate assets, which are not allocated, principally represent cash and cash equivalents, property, plant, and equipment, ROU assets, capitalized debt issuance costs and deferred income taxes.
The following tables summarize net sales and property, plant and equipment by geographic region (in thousands):
  Year Ended August 31,
  2021 2020 2019
Net Sales:
United States $ 188,070  $ 185,279  $ 249,644 
United Kingdom 39,896  24,033  30,127 
Germany 28,456  24,401  26,445 
Australia 24,990  19,332  25,749 
Canada 17,348  15,924  18,686 
China 16,927  15,058  18,548 
Saudi Arabia 16,715  19,787  21,625 
Brazil 13,937  16,413  18,779 
All other 182,321  173,065  245,155 
$ 528,660  $ 493,292  $ 654,758 
  August 31,
  2021 2020
Property, Plant and Equipment, net:
United States $ 18,942  $ 21,410 
United Kingdom 11,818  9,654 
UAE 6,448  7,525 
Netherlands 2,625  2,546 
Brazil 2,248  1,784 
Kazakhstan 1,552  2,052 
Spain 1,506  1,705 
Australia 751  1,014 
China 750  12,248 
All other 1,950  1,467 
$ 48,590  $ 61,405 
The Company’s largest customer accounted for approximately 3% of sales in each of the last three fiscal years. Export sales from domestic operations were 7.2%, 7.3% and 7.4% of total net sales from continuing operations in fiscal 2021, 2020 and 2019, respectively.