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
Assets
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.