Business Segment, Geographic and Customer Information

12 Months Ended

Aug. 31, 2022

Segment Reporting [Abstract]

Business Segment, Geographic and Customer Information

Note 15.    Business Segment, Geographic and Customer 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 operating segment is included for purposes of reconciliation of the respective balances below to the consolidated financial statements.

The following tables summarize financial information by reportable segment and product line (in thousands):

	Year Ended August 31,
	2023		2022		2021
Net Sales by Reportable Segment & Product Line
IT&S Segment
Product	$	447,603	$	410,245	$	376,353
Service & Rental	107,575		117,097		116,772
	555,178		527,342		493,125
Other Segment	43,026		43,881		35,535
	$	598,204	$	571,223	$	528,660
Operating Profit (Loss)
IT&S Segment	$	135,883	$	78,735	$	81,683
Other Segment	10,954		729		(10,420)
General Corporate	(62,915)		(48,804)		(20,150)
	$	83,922	$	30,660	$	51,113

Depreciation and Amortization:
IT&S Segment	$	12,329	$	14,498	$	15,856
Other Segment	3,164		3,664		3,568
General Corporate	820		1,438		2,187
	$	16,313	$	19,600	$	21,611
Capital Expenditures:
IT&S Segment	$	7,779	$	7,139	$	10,918
Other Segment	599		710		768
General Corporate	1,022		568		333
	$	9,400	$	8,417	$	12,019

	August 31,
	2023		2022
Assets:
IT&S Segment	$	632,113	$	618,412
Other Segment	28,127		46,428
General Corporate	102,357		92,472
	$	762,597	$	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, ROU assets, capitalized debt issuance costs and deferred income taxes.

The following tables summarize net sales and property, plant and equipment by geographic region (in thousands):

	Year Ended August 31,
	2023		2022		2021
Net Sales:
United States of America	$	231,093	$	226,020	$	188,070
United Kingdom	34,085		29,316		39,896
Germany	29,926		28,004		28,456
Canada	29,643		19,651		17,348
Australia	28,607		26,667		24,990
Saudi Arabia	25,762		20,892		16,715
Brazil	20,523		16,517		13,937
France	14,606		14,854		13,368
China	14,081		15,434		16,927
All Other	169,877		173,868		168,953
	$	598,204	$	571,223	$	528,660

	August 31,
	2023		2022
Property, Plant and Equipment, net:
United States	$	15,081	$	16,743
United Kingdom	7,543		8,212
UAE	4,004		4,407
Brazil	3,197		2,873
Netherlands	2,423		1,965
Spain	1,484		1,413
All other	5,235		5,761
	$	38,968	$	41,372

The Company’s largest customer accounted for approximately 3% of sales in each of the last three fiscal years. Export sales from domestic operations were 9.9%, 9.8% and 7.2% of total net sales from continuing operations in fiscal 2023, 2022 and 2021, respectively.