Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.1.1.u2
Segment Information
 9 Months Ended
May 31, 2024
Segment Reporting [Abstract]  
Segment Information
Note 12. 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,
  2024 2023 2024 2023
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 117,742  $ 117,868  $ 330,606  $ 320,980 
Service & Rental 28,194  26,258  87,187  81,346 
145,936  144,126  417,793  402,326 
Other Segment 4,453  12,127  13,003  35,269 
$ 150,389  $ 156,253  $ 430,796  $ 437,595 
Operating Profit (Loss)
IT&S Segment $ 41,048  $ 36,207  $ 114,028  $ 93,284 
Other Segment 1,253  1,965  3,144  4,545 
Corporate (8,938) (12,733) (25,625) (46,109)
$ 33,363  $ 25,439  $ 91,547  $ 51,720 
May 31, 2024 August 31, 2023
Assets
IT&S Segment $ 618,479  $ 632,113 
Other Segment 28,079  28,127 
Corporate 102,906  102,357 
$ 749,464  $ 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.