Note 15 – 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 sales, 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 and nine months ended May 31, 2018 and May 31, 2017.

Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems as well as various water pumping stations, controls, filtration solutions and machine-to-machine technology. The irrigation reporting segment consists of three operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution.

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 manufacture and sale of large diameter steel tubing and railroad signals and structures; and the provision of outsourced manufacturing and production services. The infrastructure reporting segment consists of one operating segment.

	Three months ended						Nine months ended
($ in thousands)	May 31, 2018			May 31, 2017			May 31, 2018			May 31, 2017
Operating revenues:
Irrigation	$	128,421		$	120,040		$	343,639		$	316,102
Infrastructure		41,150			31,493			80,797			69,946
Total operating revenues	$	169,571		$	151,533		$	424,436		$	386,048

Operating income:
Irrigation	$	11,718		$	16,508		$	31,502		$	32,961
Infrastructure		14,248			8,016			20,058			12,588
Corporate		(7,264	)		(7,110	)		(19,591	)		(16,878	)
Total operating income		18,702			17,414			31,969			28,671

Interest and other expense, net		(1,257	)		(1,217	)		(4,056	)		(3,503	)
Earnings before income taxes	$	17,445		$	16,197		$	27,913		$	25,168

Capital expenditures:
Irrigation	$	1,950		$	1,625		$	5,985		$	4,371
Infrastructure		252			131			716			1,235
Corporate		3			269			219			613
	$	2,205		$	2,025		$	6,920		$	6,219
Depreciation and amortization:
Irrigation	$	2,974		$	3,011		$	9,047		$	8,714
Infrastructure		1,153			1,111			3,435			3,330
Corporate		125			95			369			293
	$	4,252		$	4,217		$	12,851		$	12,337

($ in thousands)	May 31, 2018		May 31, 2017		August 31, 2017
Total assets:
Irrigation	$	326,058	$	343,722	$	337,446
Infrastructure		88,616		84,327		80,187
Corporate		105,554		83,238		88,399
	$	520,228	$	511,287	$	506,032