Annual report pursuant to Section 13 and 15(d)

Business Segment, Geographic and Customer Information

v2.4.0.8
Business Segment, Geographic and Customer Information
 12 Months Ended
Aug. 31, 2013
Segment Reporting [Abstract]  
Business Segment, Geographic and Customer Information
Business Segment, Geographic and Customer 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, 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 OEMs in various 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):
 
 
Year Ended August 31,
 
 
2013
 
2012
 
2011
Net Sales by Segment:
 
 
 
 
 
 
Industrial
 
$
422,620

 
$
419,295

 
$
393,013

Energy
 
363,372

 
349,163

 
293,060

Engineered Solutions
 
493,750

 
508,063

 
473,237

 
 
$
1,279,742

 
$
1,276,521

 
$
1,159,310

Net Sales by Reportable Product Line:
 
 
 
 
 
 
Industrial
 
$
422,620

 
$
419,295

 
$
393,013

Energy
 
363,372

 
349,163

 
293,060

Vehicle Systems
 
253,073

 
279,549

 
328,763

Other
 
240,677

 
228,514

 
144,474

 
 
$
1,279,742

 
$
1,276,521

 
$
1,159,310

Operating Profit (Loss):
 
 
 
 
 
 
Industrial
 
$
117,644

 
$
114,777

 
$
98,415

Energy
 
63,280

 
62,205

 
49,345

Engineered Solutions
 
40,328

 
60,851

 
63,612

General Corporate
 
(31,107
)
 
(33,319
)
 
(38,485
)
 
 
$
190,145

 
$
204,514

 
$
172,887

Depreciation and Amortization:
 
 
 
 
 
 
Industrial
 
$
8,553

 
$
8,358

 
$
8,655

Energy
 
18,451

 
18,115

 
18,152

Engineered Solutions
 
16,949

 
15,093

 
13,916

General Corporate
 
2,145

 
2,030

 
2,579

Discontinued Operations
 
7,804

 
10,667

 
9,694

 
 
$
53,902

 
$
54,263

 
$
52,996

Capital Expenditures:
 
 
 
 
 
 
Industrial
 
$
3,524

 
$
5,333

 
$
3,590

Energy
 
9,417

 
8,962

 
8,978

Engineered Solutions
 
7,001

 
3,463

 
5,966

General Corporate
 
867

 
1,905

 
1,902

Discontinued Operations
 
2,859

 
3,077

 
2,660

 
 
$
23,668

 
$
22,740

 
$
23,096

 
 
 
August 31,
 
 
2013
 
2012
Assets:
 
 
 
 
Industrial
 
$
280,110

 
$
268,735

Energy
 
817,547

 
540,409

Electrical
 
—

 
437,914

Engineered Solutions
 
652,581

 
667,550

General Corporate
 
96,488

 
92,511

Assets of discontinued operations
 
272,606

 
—

 
 
$
2,119,332

 
$
2,007,119


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, 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.
The following tables summarize financial information from continuing operations by geographic region (in thousands):
 
 
 
Year Ended August 31,
 
 
 
 
2013
 
2012
 
2011
 
 
Net Sales:
 
 
 
 
 
 
 
 
United States
 
$
549,057

 
$
599,831

 
$
479,070

 
 
Netherlands
 
159,396

 
185,112

 
207,787

 
 
United Kingdom
 
144,131

 
141,037

 
116,935

 
 
Australia
 
68,255

 
47,472

 
27,854

 
 
France
 
52,806

 
48,681

 
49,971

 
 
All other
 
306,097

 
254,388

 
277,693

 
 
 
 
$
1,279,742

 
$
1,276,521

 
$
1,159,310

 
 
 
 
 
 
 
 
 
 
 
 
 
August 31,
 
 
 
 
 
 
2013
 
2012
 
 
 
 
Long-lived Assets:
 
 
 
 
 
 
 
 
Norway
 
$
59,557

 
$
941

 
 
 
 
United Kingdom
 
54,136

 
17,672

 
 
 
 
United States
 
41,161

 
50,950

 
 
 
 
China
 
19,551

 
20,166

 
 
 
 
Netherlands
 
10,418

 
12,166

 
 
 
 
All other
 
20,358

 
17,725

 
 
 
 
 
 
$
205,181

 
$
119,620

 
 
 

The Company’s largest customer accounted for less than 3.0% of sales in each of the last three fiscal years. Export sales from domestic operations were approximately 8.0% of total net sales in each of the periods presented.