Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.1
Segment Information
 6 Months Ended
Feb. 28, 2022
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 February 28, Six Months Ended February 28,
  2022 2021 2022 2021
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 97,498  $ 87,195  $ 189,847  $ 169,768 
Service & Rental 28,442  25,544  57,406  55,146 
125,940  112,739  247,253  224,914 
Other Operating Segment 10,659  7,915  20,249  15,170 
$ 136,599  $ 120,654  $ 267,502  $ 240,084 
Operating Profit (Loss)
IT&S Segment $ 12,582  $ 13,857  $ 30,646  $ 31,014 
Other Operating Segment 334  (1,873) (923) (3,682)
General Corporate (8,432) (6,277) (18,832) (12,555)
$ 4,484  $ 5,707  $ 10,891  $ 14,777 
February 28, 2022 August 31, 2021
Assets
IT&S Segment $ 656,199  $ 641,256 
Other Operating Segment 52,965  52,745 
General Corporate 112,298  126,246 
$ 821,462  $ 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 & 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.