Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.1
Segment Information
 6 Months Ended
Feb. 28, 2019
Segment Reporting [Abstract]  
Segment Information
Note 13. Segment Information
The Company is a global manufacturer of a broad range of industrial products and systems. The Industrial Tools & Services segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the industrial, maintenance, infrastructure, oil & gas, energy and other markets. The Engineered Components & Systems segment provides highly engineered components for on-highway, off-highway, agriculture, medical, concrete tensioning (divested December 31, 2018) and other vertical markets. All of the aforementioned markets are supported through our various segment product lines outlined below.
The following tables summarize financial information by reportable segment and product line (in thousands):    
 
Three Months Ended February 28,
 
Six Months Ended February 28,
 
2019
 
2018
 
2019
 
2018
Net Sales by Reportable Product Line & Segment
 
 
 
 
 
 
 
Industrial Tools & Services
 
 
 
 
 
 
 
Product
$
105,584

 
$
105,302

 
$
208,352

 
$
206,422

Service & Rental
43,937

 
31,685

 
89,824

 
72,556

 
149,521

 
136,987

 
298,176

 
278,978

Engineered Components & Systems
 
 
 
 
 
 
 
On-Highway
55,013

 
59,297

 
115,604

 
124,179

Agriculture, Off-Highway and Other
52,448

 
50,795

 
106,332

 
102,111

Rope & Cable Solutions
11,386

 
17,101

 
27,552

 
33,488

Concrete Tensioning
3,539

 
10,983

 
16,774

 
22,617

Off Shore Mooring
—

 
2

 
—

 
2,747

 
122,386

 
138,178

 
266,262

 
285,142

 
$
271,907

 
$
275,165

 
$
564,438

 
$
564,120

 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
 
 
 
Industrial Tools & Services
$
26,546

 
$
18,963

 
$
52,920

 
$
39,800

Engineered Components & Systems (1)
(1,412
)
 
(4,448
)
 
(29,704
)
 
(413
)
General Corporate
(8,780
)
 
(4,711
)
 
(16,180
)
 
(14,910
)
 
$
16,354

 
$
9,804

 
$
7,036

 
$
24,477

(1) Engineered Components & Systems segment operating losses include impairment & divestiture charges of $6.9 million and $3.0 million for the three months ended February 28, 2019 and 2018, respectively. For the six months ended February 28, 2019 and 2018, impairment & divestiture charges were $43.3 million and $3.0 million, respectively.
 
February 28, 2019
 
August 31, 2018
Assets:
 
 
 
Industrial Tools & Services
$
622,346

 
$
589,932

Engineered Components & Systems
618,854

 
657,370

General Corporate
161,857

 
234,036

 
$
1,403,057

 
$
1,481,338


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 & divestiture 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.