Segment Information

6 Months Ended

Feb. 28, 2021

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				Six Months Ended
	February 28, 2021		February 29, 2020		February 28, 2021		February 29, 2020
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product	$	87,195	$	93,364	$	169,768	$	189,727
Service & Rental	25,544		29,997		55,146		69,226
	112,739		123,361		224,914		258,953
Other Operating Segment	7,915		10,025		15,170		21,107
	$	120,654	$	133,386	$	240,084	$	280,060
Operating Profit (Loss)
IT&S Segment	$	13,857	$	20,570	$	31,014	$	46,624
Other Operating Segment	(1,873)		(972)		(3,682)		(1,227)
General Corporate	(6,277)		(11,031)		(12,555)		(22,460)
	$	5,707	$	8,567	$	14,777	$	22,937

	February 28, 2021		August 31, 2020
Assets
IT&S Segment	$	615,018	$	592,086
Other Operating Segment	61,341		61,105
General Corporate	132,642		171,103
	$	809,001	$	824,294

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.