Segment Information

6 Months Ended

Feb. 28, 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 February 28,				Six Months Ended February 28,
	2023		2022		2023		2022
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product	$	104,195	$	97,498	$	203,113	$	189,847
Service & Rental	26,709		28,442		55,088		57,406
	130,904		125,940		258,201		247,253
Other Segment	11,056		10,659		23,141		20,249
	$	141,960	$	136,599	$	281,342	$	267,502
Operating Profit (Loss)
IT&S Segment	$	30,437	$	12,582	$	57,077	$	30,646
Other Segment	1,156		334		2,580		(923)
General Corporate	(17,621)		(8,432)		(33,376)		(18,832)
	$	13,972	$	4,484	$	26,281	$	10,891

	February 28, 2023		August 31, 2022
Assets
IT&S Segment	$	624,250	$	618,412
Other Segment	44,752		46,428
General Corporate	104,185		92,472
	$	773,187	$	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.