Industry Segment Information

3 Months Ended

Nov. 30, 2023

Segment Reporting [Abstract]

Industry Segment Information

Note 14 – 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 months ended November 30, 2023 or 2022.

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
($ in thousands)	November 30, 2023			November 30, 2022
Operating revenues:
Irrigation:
North America	$	89,377		$	83,934
International		50,791			68,149
Irrigation total		140,168			152,083
Infrastructure		21,190			24,076
Total operating revenues	$	161,358		$	176,159
Operating income:
Irrigation	$	25,307		$	28,641
Infrastructure		3,619			3,372
Corporate		(7,852	)		(7,415	)
Total operating income		21,074			24,598
Interest and other expense, net		(79	)		(593	)
Earnings before income taxes	$	20,995		$	24,005