Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.4
Segment Information
 3 Months Ended
Nov. 30, 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 November 30,
  2023 2022
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 104,921  $ 98,917 
Service & Rental 32,114  28,380 
137,035  127,297 
Other Segment 4,935  12,085 
$ 141,970  $ 139,382 
Operating Profit (Loss)
IT&S Segment $ 35,565  $ 26,640 
Other Segment 1,971  1,424 
General Corporate (8,874) (15,755)
$ 28,662  $ 12,309 
November 30, 2023 August 31, 2023
Assets
IT&S Segment $ 622,154  $ 632,113 
Other Segment 28,286  28,127 
General Corporate 115,127  102,357 
$ 765,567  $ 762,597 

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.