Segment Information

9 Months Ended

May 31, 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 May 31,				Nine Months Ended May 31,
	2021		2020		2021		2020
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product	$	102,224	$	67,957	$	271,992	$	257,685
Service & Rental	31,176		24,908		86,322		94,134
	133,400		92,865		358,314		351,819
Other Operating Segment	9,749		9,014		24,919		30,120
	$	143,149	$	101,879	$	383,233	$	381,939
Operating Profit (Loss)
IT&S Segment	$	23,812	$	7,639	$	54,826	$	54,263
Other Operating Segment	(65)		(790)		(3,747)		(2,017)
General Corporate	(1,000)		(8,847)		(13,555)		(31,308)
	$	22,747	$	(1,998)	$	37,524	$	20,938

	May 31, 2021		August 31, 2020
Assets
IT&S Segment	$	656,165	$	592,086
Other Operating Segment	59,403		61,105
General Corporate	127,134		171,103
	$	842,702	$	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.