Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2
Segment Information
 9 Months Ended
May 31, 2022
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, 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 May 31, Nine Months Ended May 31,
  2022 2021 2022 2021
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product $ 109,915  $ 102,224  $ 299,761  $ 271,992 
Service & Rental 30,480  31,176  87,886  86,322 
140,395  133,400  387,647  358,314 
Other Operating Segment 11,499  9,749  31,748  24,919 
$ 151,894  $ 143,149  $ 419,395  $ 383,233 
Operating Profit (Loss)
IT&S Segment $ 19,226  $ 23,812  $ 49,872  $ 54,826 
Other Operating Segment 1,096  (65) 173  (3,747)
General Corporate (13,679) (1,000) (32,511) (13,555)
$ 6,643  $ 22,747  $ 17,534  $ 37,524 
May 31, 2022 August 31, 2021
Assets
IT&S Segment $ 641,199  $ 641,256 
Other Operating Segment 49,626  52,745 
General Corporate 106,474  126,246 
$ 797,299  $ 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.