Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
 9 Months Ended
May 31, 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 May 31,
 
Nine Months Ended May 31,
 
2017
 
2016
 
2017
 
2016
Net Sales by Reportable Product Line & Segment:
 
 
 
 
 
 
 
Industrial Segment:
 
 
 
 
 
 
 
Industrial Tools
$
87,404

 
$
81,770

 
$
245,122

 
$
233,599

Heavy Lifting Technology
13,099

 
13,980

 
34,319

 
32,210

 
100,503

 
95,750

 
279,441

 
265,809

Energy Segment:
 
 
 
 
 
 
 
Energy Maintenance & Integrity
59,905

 
73,377

 
176,316

 
210,762

Other Energy Solutions
23,575

 
27,923

 
64,694

 
90,526

 
83,480

 
101,300

 
241,010

 
301,288

Engineered Solutions Segment:
 
 
 
 
 
 
 
On-Highway
57,710

 
58,440

 
159,952

 
161,949

Agriculture, Off-Highway and Other
53,734

 
49,851

 
139,686

 
144,595

 
111,444

 
108,291

 
299,638

 
306,544

 
$
295,427

 
$
305,341

 
$
820,089

 
$
873,641

Operating Profit (Loss):
 
 
 
 
 
 
 
Industrial
$
23,705

 
$
21,712

 
$
60,860

 
$
58,994

Energy (1)
905

 
10,870

 
3,537

 
(115,803
)
Engineered Solutions (2)
8,105

 
3,651

 
10,676

 
(37,943
)
General Corporate
(5,383
)
 
(7,890
)
 
(26,070
)
 
(23,649
)
 
$
27,332

 
$
28,343

 
$
49,003

 
$
(118,401
)
(1) Energy segment operating profit (loss) includes an impairment charge of $140.9 million for the nine months ended May 31, 2016.
(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, 2017
 
August 31, 2016
Assets by Segment:
 
 
 
Industrial
$
308,148

 
$
308,222

Energy
501,528

 
479,169

Engineered Solutions
511,391

 
493,840

General Corporate
166,972

 
157,429

 
$
1,488,039

 
$
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.