Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.5.0.2
Segment Information
 9 Months Ended
May 31, 2016
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 in three reportable segments: Industrial, Energy and Engineered Solutions. The Industrial segment is primarily engaged 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 maintenance services, customized offshore vessel mooring solutions, 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 original equipment manufacturers ("OEM") in various on and off-highway vehicle markets, as well as a variety of other products to the industrial and agricultural markets. The following tables summarize financial information by reportable segment and product line (in thousands):
 
Three Months Ended May 31,
 
Nine Months Ended May 31,
 
2016
 
2015
 
2016
 
2015
Net Sales by Reportable Product Line & Segment:
 
 
 
 
 
 
 
Industrial Segment:
 
 
 
 
 
 
 
Industrial Tools
$
81,771

 
$
88,348

 
$
233,599

 
$
267,064

Integrated Solutions
13,980

 
15,198

 
32,210

 
35,384

 
95,751

 
103,546

 
265,809

 
302,448

Energy Segment:
 
 
 
 
 
 
 
Energy Maintenance & Integrity
73,377

 
62,644

 
210,762

 
182,985

Other Energy Solutions
27,923

 
36,653

 
90,526

 
128,044

 
101,300

 
99,297

 
301,288

 
311,029

Engineered Solutions Segment:
 
 
 
 
 
 
 
On-Highway
58,439

 
59,673

 
161,949

 
170,122

Agriculture, Off-Highway and Other
49,851

 
57,584

 
144,595

 
165,271

 
108,290

 
117,257

 
306,544

 
335,393

 
$
305,341

 
$
320,100

 
$
873,641

 
$
948,870

Operating Profit (Loss):
 
 
 
 
 
 
 
Industrial
$
21,712

 
$
29,165

 
$
58,994

 
$
79,386

Energy (1)
10,870

 
12,774

 
(115,803
)
 
(50,457
)
Engineered Solutions (2)
3,651

 
8,313

 
(37,943
)
 
16,601

General Corporate
(7,890
)
 
(7,250
)
 
(23,649
)
 
(20,757
)
 
$
28,343

 
$
43,002

 
$
(118,401
)
 
$
24,773

(1) Energy segment operating profit (loss) includes impairment charges of $140.8 million and $84.4 million for the nine months ended May 31, 2016 and 2015, respectively.
(2) Engineered Solutions segment operating profit (loss) includes an impairment charge of $45.7 million for the nine months ended May 31, 2016.
 
May 31, 2016
 
August 31, 2015
Assets by Segment:
 
 
 
Industrial
$
299,971

 
$
293,738

Energy
508,660

 
601,521

Engineered Solutions
529,275

 
588,200

General Corporate
129,514

 
153,458

 
$
1,467,420

 
$
1,636,917


In addition to the impact of foreign currency exchange rate changes, the comparability of segment and product line information is also impacted by acquisitions and impairment charges (Energy and Engineered Solutions segments).  Corporate assets, which are not allocated, principally represent cash and cash equivalents, capitalized debt issuance costs and deferred income taxes.