Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.10.0.1
Segment Information
 9 Months Ended
May 31, 2018
Segment Reporting [Abstract]  
Segment Information
Note 13. 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 other markets. Divestiture of the Viking business during the second quarter of fiscal 2018 resulted in the elimination of the sale and rental of customized off-shore vessel mooring solutions. 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,
 
2018
 
2017
 
2018
 
2017
Net Sales by Reportable Product Line & Segment:
 
 
 
 
 
 
 
Industrial Segment:
 
 
 
 
 
 
 
Industrial Tools
$
98,970

 
$
87,404

 
$
270,919

 
$
245,122

Heavy Lifting Technology
9,327

 
13,099

 
33,375

 
34,319

 
108,297

 
100,503

 
304,294

 
279,441

Energy Segment:
 
 
 
 
 
 
 
Energy Maintenance & Integrity
63,421

 
59,905

 
169,020

 
176,316

Other Energy Solutions
20,436

 
23,575

 
56,670

 
64,694

 
83,857

 
83,480

 
225,690

 
241,010

Engineered Solutions Segment:
 
 
 
 
 
 
 
On-Highway
66,556

 
57,710

 
190,735

 
159,952

Agriculture, Off-Highway and Other
58,386

 
53,734

 
160,497

 
139,686

 
124,942

 
111,444

 
351,232

 
299,638

 
$
317,096

 
$
295,427

 
$
881,216

 
$
820,089

Operating Profit:
 
 
 
 
 
 
 
Industrial
$
25,999

 
$
23,705

 
$
61,023

 
$
60,860

Energy (1)
6,269

 
905

 
2,050

 
3,537

Engineered Solutions
9,027

 
8,105

 
17,570

 
10,676

General Corporate
(8,710
)
 
(5,383
)
 
(23,796
)
 
(26,070
)
 
$
32,585

 
$
27,332

 
$
56,847

 
$
49,003

(1) Energy segment operating profit includes impairment and divestiture charges of $3.0 million for the nine months ended May 31, 2018.
 
May 31, 2018
 
August 31, 2017
Assets by Segment:
 
 
 
Industrial
$
325,291

 
$
329,134

Energy
463,026

 
482,963

Engineered Solutions
543,760

 
531,068

General Corporate
172,708

 
173,790

 
$
1,504,785

 
$
1,516,955


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 & 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.