Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
 6 Months Ended
Feb. 28, 2017
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. During 2017, the Company rebranded its Integrated Solutions product line to Heavy Lifting Technology to align the brand with the solutions offered. The Energy segment provides joint integrity products and services, customized offshore vessel mooring solutions, as well as rope and cable solutions to the global oil & gas, power generation and other 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
 
Six Months Ended
 
February 28, 2017
 
February 29, 2016
 
February 28,
2017
 
February 29,
2016
Net Sales by Reportable Product Line & Segment:
 
 
 
 
 
 
 
Industrial Segment:
 
 
 
 
 
 
 
Industrial Tools
$
78,679

 
$
72,095

 
$
157,718

 
$
151,828

Heavy Lifting Technology
12,969

 
9,093

 
21,220

 
18,231

 
91,648

 
81,188

 
178,938

 
170,059

Energy Segment:
 
 
 
 
 
 
 
Energy Maintenance & Integrity
51,590

 
58,551

 
116,411

 
137,385

Other Energy Solutions
21,294

 
27,674

 
41,119

 
62,602

 
72,884

 
86,225

 
157,530

 
199,987

Engineered Solutions Segment:
 
 
 
 
 
 
 
On-Highway
50,611

 
49,434

 
102,242

 
103,510

Agriculture, Off-Highway and Other
43,726

 
46,442

 
85,952

 
94,744

 
94,337

 
95,876

 
188,194

 
198,254

 
$
258,869

 
$
263,289

 
$
524,662

 
$
568,300

Operating Profit (Loss):
 
 
 
 
 
 
 
Industrial
$
18,380

 
$
16,728

 
$
37,155

 
$
37,283

Energy (1)
(579
)
 
(136,766
)
 
2,632

 
(126,673
)
Engineered Solutions (2)
1,816

 
(45,116
)
 
2,571

 
(41,594
)
General Corporate
(6,418
)
 
(6,961
)
 
(20,688
)
 
(15,760
)
 
$
13,199

 
$
(172,115
)
 
$
21,670

 
$
(146,744
)
(1) Energy segment operating profit (loss) includes an impairment charge of $140.9 million for the three and six months ended February 29, 2016.
(2) Engineered Solutions segment operating profit (loss) includes an impairment charge of $45.7 million for the three and six months ended February 29, 2016.
 
February 28, 2017
 
August 31, 2016
Assets by Segment:
 
 
 
Industrial
$
310,197

 
$
308,222

Energy
501,824

 
479,169

Engineered Solutions
490,814

 
493,840

General Corporate
124,199

 
157,429

 
$
1,427,034

 
$
1,438,660


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