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.