Quarterly report pursuant to Section 13 or 15(d)

Segment Information

Segment Information
3 Months Ended
Nov. 30, 2021
Segment Reporting [Abstract]  
Segment Information
Note 12. 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, alternative 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 November 30,
  2021 2020
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 92,350  $ 82,573 
Service & Rental 28,963  29,602 
121,313  112,175 
Other Operating Segment 9,590  7,255 
$ 130,903  $ 119,430 
Operating Profit (Loss)
IT&S Segment $ 18,064  $ 17,157 
Other Operating Segment (1,257) (1,809)
General Corporate (10,400) (6,279)
$ 6,407  $ 9,069 
November 30, 2021 August 31, 2021
IT&S Segment $ 644,138  $ 641,256 
Other Operating Segment 52,524  52,745 
General Corporate 115,806  126,246 
$ 812,468  $ 820,247 

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.