Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.2
Segment Information
 9 Months Ended
May 31, 2023
Segment Reporting [Abstract]  
Segment Information
Note 13. Segment 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 infrastructure, industrial maintenance, repair and operations, oil & gas, mining, alternative and renewable energy, civil construction and other markets. The Other segment is included for purposes of reconciliation of the respective balances below to the condensed consolidated financial statements.
The following tables summarize financial information by reportable segment and product line (in thousands):    
  Three Months Ended May 31, Nine Months Ended May 31,
  2023 2022 2023 2022
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 117,868  $ 109,915  $ 320,980  $ 299,761 
Service & Rental 26,258  30,480  81,346  87,886 
144,126  140,395  402,326  387,647 
Other Segment 12,127  11,499  35,269  31,748 
$ 156,253  $ 151,894  $ 437,595  $ 419,395 
Operating Profit (Loss)
IT&S Segment $ 36,207  $ 19,226  $ 93,284  $ 49,872 
Other Segment 1,965  1,096  4,545  173 
General Corporate (12,733) (13,679) (46,109) (32,511)
$ 25,439  $ 6,643  $ 51,720  $ 17,534 
May 31, 2023 August 31, 2022
Assets
IT&S Segment $ 633,686  $ 618,412 
Other Segment 46,584  46,428 
General Corporate 112,804  92,472 
$ 793,074  $ 757,312 

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, Right of Use ("ROU") assets, capitalized debt issuance costs and deferred income taxes.