Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.1
Segment Information
6 Months Ended
Feb. 28, 2021
Segment Reporting [Abstract]  
Segment Information
Note 13. Segment Information
The Company is a global manufacturer of a broad range of industrial products and solutions. The IT&S reportable 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 Other operating segment is included for purposes of reconciliation of the respective balances below to the condensed consolidated financial statements.
The following tables summarize financial information by reportable segment and product line (in thousands):    
  Three Months Ended Six Months Ended
  February 28, 2021 February 29, 2020 February 28, 2021 February 29, 2020
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 87,195  $ 93,364  $ 169,768  $ 189,727 
Service & Rental 25,544  29,997  55,146  69,226 
112,739  123,361  224,914  258,953 
Other Operating Segment 7,915  10,025  15,170  21,107 
$ 120,654  $ 133,386  $ 240,084  $ 280,060 
Operating Profit (Loss)
IT&S Segment $ 13,857  $ 20,570  $ 31,014  $ 46,624 
Other Operating Segment (1,873) (972) (3,682) (1,227)
General Corporate (6,277) (11,031) (12,555) (22,460)
$ 5,707  $ 8,567  $ 14,777  $ 22,937 
February 28, 2021 August 31, 2020
Assets
IT&S Segment $ 615,018  $ 592,086 
Other Operating Segment 61,341  61,105 
General Corporate 132,642  171,103 
$ 809,001  $ 824,294 

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, impairment and divestiture charges, restructuring costs and related benefits. Corporate assets, which are not allocated, principally represent cash and cash equivalents, property, plant and equipment, Right of Use ("ROU") assets, capitalized debt issuance costs and deferred income taxes.