Segment Information

9 Months Ended

May 31, 2023

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 infrastructure, industrial maintenance, repair and operations, oil & gas, mining, alternative and renewable energy, civil construction and other markets. The Other 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,
	2023		2022		2023		2022
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product	$	117,868	$	109,915	$	320,980	$	299,761
Service & Rental	26,258		30,480		81,346		87,886
	144,126		140,395		402,326		387,647
Other Segment	12,127		11,499		35,269		31,748
	$	156,253	$	151,894	$	437,595	$	419,395
Operating Profit (Loss)
IT&S Segment	$	36,207	$	19,226	$	93,284	$	49,872
Other Segment	1,965		1,096		4,545		173
General Corporate	(12,733)		(13,679)		(46,109)		(32,511)
	$	25,439	$	6,643	$	51,720	$	17,534

	May 31, 2023		August 31, 2022
Assets
IT&S Segment	$	633,686	$	618,412
Other Segment	46,584		46,428
General Corporate	112,804		92,472
	$	793,074	$	757,312

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.