XML 39 R23.htm IDEA: XBRL DOCUMENT v3.22.2.2
Supplemental Disaggregated Information
 12 Months Ended
Aug. 31, 2022
Segment Reporting [Abstract]  
Supplemental Disaggregated Information Segment Information
We present our financial results of operations for our two reportable segments, ABL and ISG, consistent with how our chief operating decision maker evaluates operating results, assesses performance, and allocates resources within the Company.
The accounting policies of our reportable segments are the same as those described in the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements. Corporate expenses that are primarily administrative in function and benefit the Company on an entity-wide basis are not allocated to our segments. These include expenses related to governance, policy setting, compliance, and certain other shared services functions. Additionally, we do not allocate net interest expense, net miscellaneous expense, special charges, or assets to our segments. Accordingly, this information is not used by the chief operating decision maker to make operating decisions and assess performance and is therefore excluded from our disclosures.
The following table presents financial information by operating segment for the periods presented (in millions):
ABLISGCorporate
Eliminations(1)
Total
Year Ended August 31, 2022:
Net sales$3,810.1 $216.1 $— $(20.1)$4,006.1 
Operating profit (loss)545.6 22.7 (58.6)— 509.7 
Depreciation and amortization79.3 14.4 1.1 — 94.8 
Year Ended August 31, 2021:
Net sales$3,287.3 $190.0 $— $(16.3)$3,461.0 
Operating profit (loss)476.2 9.9 (58.5)— 427.6 
Depreciation and amortization84.3 14.7 1.1 — 100.1 
Year Ended August 31, 2020:
Net sales$3,180.9 $157.0 $— $(11.6)$3,326.3 
Operating profit (loss)425.8 (3.9)(68.0)— 353.9 
Depreciation and amortization83.7 16.3 1.1 — 101.1 
____________________________
(1) This column represents intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis.
The following table reconciles operating profit by segment to income before income taxes (in millions):
Year Ended August 31,
202220212020
Operating profit - ABL$545.6 $476.2 $425.8 
Operating profit (loss) - ISG22.7 9.9 (3.9)
Unallocated corporate amounts(58.6)(58.5)(68.0)
Operating profit509.7 427.6 353.9 
Interest expense, net24.9 23.2 23.3 
Miscellaneous (income) expense, net(9.1)8.2 5.9 
Income before income taxes$493.9 $396.2 $324.7 
Supplemental Disaggregated Information
Sales of lighting, lighting controls, and building technology solutions, excluding services, accounted for approximately 99% of total consolidated net sales in fiscal 2022, 2021, and 2020. Our geographic distribution of net sales, operating profit, income before provision for income taxes, and long-lived assets is summarized in the following table during and as of the periods presented (in millions):
Year Ended August 31,
202220212020
Net sales(1):
   
Domestic(2)
$3,486.4 $2,982.4 $2,925.0 
International519.7 478.6 401.3 
Total$4,006.1 $3,461.0 $3,326.3 
Operating profit:  
Domestic(2)
$428.3 $369.9 $300.6 
International81.4 57.7 53.3 
Total$509.7 $427.6 $353.9 
Income before income taxes:  
Domestic(2)
$409.6 $343.7 $274.2 
International84.3 52.5 50.5 
Total$493.9 $396.2 $324.7 
Long-lived assets(3):
  
Domestic(2)
$325.9 $284.4 $298.6 
International73.5 76.6 64.8 
Total$399.4 $361.0 $363.4 
_______________________________________
(1)Net sales are attributed to each country based on the selling location.
(2)Domestic amounts include amounts for U.S. based operations.
(3)Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, and other long-term assets as reflected in the Consolidated Balance Sheets.