Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
9 Months Ended
May 31, 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 May 31, Nine Months Ended May 31,
  2021 2020 2021 2020
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 102,224  $ 67,957  $ 271,992  $ 257,685 
Service & Rental 31,176  24,908  86,322  94,134 
133,400  92,865  358,314  351,819 
Other Operating Segment 9,749  9,014  24,919  30,120 
$ 143,149  $ 101,879  $ 383,233  $ 381,939 
Operating Profit (Loss)
IT&S Segment $ 23,812  $ 7,639  $ 54,826  $ 54,263 
Other Operating Segment (65) (790) (3,747) (2,017)
General Corporate (1,000) (8,847) (13,555) (31,308)
$ 22,747  $ (1,998) $ 37,524  $ 20,938 
May 31, 2021 August 31, 2020
Assets
IT&S Segment $ 656,165  $ 592,086 
Other Operating Segment 59,403  61,105 
General Corporate 127,134  171,103 
$ 842,702  $ 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.