Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.2
Segment Information
 9 Months Ended
May 31, 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 IT&S 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 EC&S 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 May 31,
 
Nine Months Ended May 31,
 
2019
 
2018
 
2019
 
2018
Net Sales by Reportable Product Line & Segment
 
 
 
 
 
 
 
Industrial Tools & Services
 
 
 
 
 
 
 
Product
$
115,067

 
$
115,722

 
$
323,420

 
$
322,143

Service & Rental
51,665

 
43,013

 
141,488

 
115,570

 
166,732

 
158,735

 
464,908

 
437,713

Engineered Components & Systems
 
 
 
 
 
 
 
On-Highway
59,378

 
66,556

 
174,982

 
190,735

Agriculture, Off-Highway and Other
57,793

 
58,386

 
164,125

 
160,497

Rope & Cable Solutions
11,363

 
20,436

 
38,915

 
53,924

Concrete Tensioning
—

 
12,983

 
16,774

 
35,601

Off Shore Mooring
—

 
—

 
—

 
2,746

 
128,534

 
158,361

 
394,796

 
443,503

 
$
295,266

 
$
317,096

 
$
859,704

 
$
881,216

 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
 
 
 
Industrial Tools & Services
$
34,877

 
$
31,658

 
$
87,797

 
$
71,458

Engineered Components & Systems (1)
19,556

 
9,641

 
(10,147
)
 
9,228

General Corporate
(7,073
)
 
(8,607
)
 
(23,253
)
 
(23,517
)
 
$
47,360

 
$
32,692

 
$
54,397

 
$
57,169

(1) EC&S segment operating loss includes impairment & divestiture (benefit) charges of $(10.6) million for the three months ended May 31, 2019 and $32.7 million for the nine months ended May 31, 2018.
 
May 31, 2019
 
August 31, 2018
Assets:
 
 
 
Industrial Tools & Services
$
609,690

 
$
589,932

Engineered Components & Systems
588,756

 
657,370

General Corporate
194,710

 
234,036

 
$
1,393,156

 
$
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.