Industry Segment Information

6 Months Ended

Feb. 28, 2022

Segment Reporting [Abstract]

Industry Segment Information

Note 13 – Industry Segment Information

The Company manages its business activities in two reportable segments: irrigation and infrastructure. The Company evaluates the performance of its reportable segments based on segment revenues, gross profit and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses and income taxes. Operating income for segment purposes includes general and administrative expenses, selling expenses, engineering and research expenses and other overhead charges directly attributable to the segment. There are no inter-segment sales included in the amounts disclosed. The Company had no single customer who represented 10 percent or more of its total revenues during the three or six months ended February 28, 2022 or 2021.

Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems and large diameter steel tubing as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial internet of things, or “IIoT”, solutions. The irrigation reporting segment consists of one operating segment.

Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment. The infrastructure reporting segment consists of one operating segment.

	Three months ended						Six months ended
($ in thousands)	February 28, 2022			February 28, 2021			February 28, 2022			February 28, 2021
Operating revenues:
Irrigation:
North America	$	100,730		$	80,178		$	179,705		$	132,968
International		80,029			38,394			146,962			72,961
Irrigation total		180,759			118,572			326,667			205,929
Infrastructure		19,378			25,005			39,621			46,133
Total operating revenues	$	200,137		$	143,577		$	366,288		$	252,062
Operating income:
Irrigation	$	24,734		$	18,045		$	41,946		$	28,678
Infrastructure		324			6,341			3,090			10,597
Corporate		(6,720	)		(8,577	)		(13,337	)		(15,932	)
Total operating income		18,338			15,809			31,699			23,343
Interest and other expense, net		866			(1,248	)		(3,019	)		(1,900	)
Earnings before income taxes	$	19,204		$	14,561		$	28,680		$	21,443