Segment Information

3 Months Ended

Nov. 30, 2022

Segment Reporting [Abstract]

Segment Information

Note 13 – Segment Information

The Company operates in three reportable segments: Manufacturing; Maintenance Services; and Leasing & Management Services.

The accounting policies of the segments are described in the summary of significant accounting policies in the Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended August 31, 2022. Performance is evaluated based on Earnings (loss) from operations. Corporate includes selling and administrative costs not directly related to goods and services and certain costs that are intertwined among segments due to our integrated business model. The Company does not allocate Interest and foreign exchange or Income tax (expense) benefit for either external or internal reporting purposes. Intersegment sales and transfers are valued as if the sales or transfers were to third parties. Related revenue and margin are eliminated in consolidation and therefore are not included in consolidated results in the Company’s Consolidated Financial Statements.

The information in the following table is derived directly from the segments’ internal financial reports used for corporate management purposes.

For the three months ended November 30, 2022:

	Revenue								Earnings (loss) from operations
(in millions)	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	646.5	$	44.5		$	691.0		$	(3.4	)	$	4.0		$	0.6
Maintenance Services		85.5		8.5			94.0			5.5			—			5.5
Leasing & Management Services		34.5		0.2			34.7			15.6			—			15.6
Eliminations		—		(53.2	)		(53.2	)		—			(4.0	)		(4.0	)
Corporate		—		—			—			(22.5	)		—			(22.5	)
	$	766.5	$	—		$	766.5		$	(4.8	)	$	—		$	(4.8	)

For the three months ended November 30, 2021:

	Revenue								Earnings (loss) from operations
(in millions)	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	452.5	$	39.4		$	491.9		$	12.3		$	0.3		$	12.6
Maintenance Services		72.4		2.7			75.1			(1.1	)		—			(1.1	)
Leasing & Management Services		25.8		0.3			26.1			17.2			—			17.2
Eliminations		—		(42.4	)		(42.4	)		—			(0.3	)		(0.3	)
Corporate		—		—			—			(16.6	)		—			(16.6	)
	$	550.7	$	—		$	550.7		$	11.8		$	—		$	11.8

	Total assets
(in millions)	November 30, 2022		August 31, 2022
Manufacturing	$	1,861.7	$	1,853.9
Maintenance Services		294.6		284.8
Leasing & Management Services		1,378.9		1,152.2
Unallocated, including cash		281.9		560.6
	$	3,817.1	$	3,851.5

Reconciliation of Earnings (loss) from operations to Loss before income tax and earnings from unconsolidated affiliates:

	Three Months Ended November 30,
(in millions)	2022			2021
Earnings (loss) from operations	$	(4.8	)	$	11.8
Interest and foreign exchange		19.6			12.6
Loss before income tax and earnings   from unconsolidated affiliates	$	(24.4	)	$	(0.8	)