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Segment Information
 9 Months Ended
May 31, 2020
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,
 
2020
 
2019
 
2020
 
2019
Net Sales by Reportable Segment & Product Line
 
 
 
 
 
 
 
Industrial Tools & Services Segment
 
 
 
 
 
 
 
Product
$
67,957

 
$
115,067

 
$
257,685

 
$
323,420

Service & Rental
24,908

 
51,665

 
94,134

 
141,488

 
92,865

 
166,732

 
351,819

 
464,908

 
 
 
 
 
 
 
 
Other Operating Segment
9,014

 
11,363

 
30,120

 
31,527

 
$
101,879

 
$
178,095

 
$
381,939

 
$
496,435

 
 
 
 
 
 
 
 
Operating Profit (Loss)
 
 
 
 
 
 
 
Industrial Tools & Services Segment
$
7,639

 
$
34,877

 
$
54,263

 
$
87,797

Other Operating Segment
(790
)
 
13,072

 
(2,017
)
 
(13,336
)
General Corporate
(8,847
)
 
(9,770
)
 
(31,308
)
 
(32,395
)
 
$
(1,998
)
 
$
38,179

 
$
20,938

 
$
42,066

 
May 31, 2020
 
August 31, 2019
Assets*
 
 
 
Industrial Tools & Services Segment
$
622,113

 
$
553,615

Other Operating Segment
62,105

 
54,484

General Corporate
167,317

 
230,597

 
$
851,535

 
$
838,696


*Excludes "Assets from discontinued operations" as of August 31, 2019.
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, capitalized debt issuance costs and deferred income taxes.