Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
 9 Months Ended
May 31, 2013
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company is a global manufacturer of a broad range of industrial products and systems and is organized into three reportable segments: Industrial, Energy 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 rope and cable solutions to the global oil & gas, power generation and energy 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. In the third quarter of fiscal 2013, the Company announced that it had commenced a plan to divest the Electrical Segment. The Electrical segment, which is presented as a discontinued operation, designs, manufactures and distributes a broad range of electrical products to the retail DIY, wholesale, OEM, solar, utility, marine and other harsh environment markets.
The following tables summarize financial information by reportable segment and product line (in thousands):
 
 
Three Months Ended
 
Nine Months Ended
 
 
May 31,
2013

May 31,
2012
 
May 31,
2013
 
May 31,
2012
Net Sales by Segment:
 
 
 
 
 
 
 
 
Industrial
 
$
111,308

 
$
110,102

 
$
311,429

 
$
308,696

Energy
 
99,158

 
96,399

 
270,721

 
255,758

Engineered Solutions
 
133,739

 
136,767

 
370,332

 
389,699

 
 
$
344,205

 
$
343,268

 
$
952,482

 
$
954,153

Net Sales by Reportable Product Line:
 
 
 
 
 
 
 
 
Industrial
 
$
111,308

 
$
110,102

 
$
311,429

 
$
308,696

Energy
 
99,158

 
96,399

 
270,721

 
255,758

Vehicle Systems
 
68,202

 
75,417

 
189,064

 
220,696

Other
 
65,537

 
61,350

 
181,268

 
169,003

 
 
$
344,205

 
$
343,268

 
$
952,482

 
$
954,153

Operating Profit:
 
 
 
 
 
 
 
 
Industrial
 
$
32,426

 
$
30,682

 
$
85,782

 
$
85,307

Energy
 
19,736

 
18,515

 
44,800

 
43,364

Engineered Solutions
 
12,754

 
18,467

 
28,654

 
50,747

General Corporate
 
(7,874
)
 
(8,814
)
 
(21,849
)
 
(24,609
)
 
 
$
57,042

 
$
58,850

 
$
137,387

 
$
154,809

 
 
May 31,
2013
 
August 31,
2012
Assets:
 
 
 
 
Industrial
 
$
284,286

 
$
268,735

Energy
 
552,188

 
540,409

Electrical
 
—

 
437,914

Engineered Solutions
 
657,951

 
667,550

General Corporate
 
160,991

 
92,511

Assets of Discontinued Operations
 
264,058

 
—

 
 
$
1,919,474

 
$
2,007,119


In addition to the impact of changes in foreign currency exchange rates, the comparability of segment and product line information is also impacted by acquisition/divestiture activities and restructuring costs and the related benefits. Corporate assets, which are not allocated, principally represent cash and cash equivalents, capitalized debt issuance costs and deferred income taxes.