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Supplemental Disaggregated Information | 12 Months Ended
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Aug. 31, 2024
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 segments. These include expenses related to governance, policy setting, compliance, and certain other shared services functions. Additionally, net interest (income) expense, net miscellaneous expense (income), and income tax expense are not allocated to segments. We recorded no special charges during the years ended August 31, 2024 and August 31, 2022. We allocated $25.0 million of the $26.9 million in special charges incurred during the year ended August 31, 2023 to the ABL segment; the remaining amounts of the fiscal 2023 charge were not allocated to a segment. We allocate certain working capital assets and capital expenditures to our segments primarily to assess each segment's contribution to our consolidated operating cash flows and capital expenditures. Segment assets include accounts receivable and inventory. Unallocated assets are presented in corporate as a reconciling item to our total consolidated assets. The following table presents financial information by operating segment for the periods presented (in millions):
| Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Net sales: |  |  |  |  |
ABL | $ | 3,573.4 |  |  | $ | 3,722.8 |  |  | $ | 3,810.1 |
ISG | 291.9 |  |  | 252.7 |  |  | 216.1 |
Eliminations(1) | (24.3) |  |  | (23.3) |  |  | (20.1) |
Total | $ | 3,841.0 |  |  | $ | 3,952.2 |  |  | $ | 4,006.1 |
Operating profit (loss): |  |  |  |  |
ABL | $ | 582.8 |  |  | $ | 509.5 |  |  | $ | 545.6 |
ISG | 43.6 |  |  | 32.1 |  |  | 22.7 |
Unallocated corporate amounts | (73.1) |  |  | (68.2) |  |  | (58.6) |
Total | $ | 553.3 |  |  | $ | 473.4 |  |  | $ | 509.7 |
Depreciation and amortization: |  |  |  |  |
ABL | $ | 74.7 |  |  | $ | 77.4 |  |  | $ | 79.3 |
ISG | 15.3 |  |  | 14.4 |  |  | 14.4 |
Unallocated corporate amounts | 1.1 |  |  | 1.4 |  |  | 1.1 |
Total | $ | 91.1 |  |  | $ | 93.2 |  |  | $ | 94.8 |
Segment assets: |  |  |  |  |
ABL | $ | 883.0 |  |  | $ | 870.1 |  |  | $ | 1,097.8 |
ISG | 67.6 |  |  | 53.7 |  |  | 53.8 |
Unallocated corporate amounts | 2,864.0 |  |  | 2,484.7 |  |  | 2,328.6 |
Total | $ | 3,814.6 |  |  | $ | 3,408.5 |  |  | $ | 3,480.2 |
Capital expenditures: |  |  |  |  |
ABL | $ | 55.1 |  |  | $ | 59.3 |  |  | $ | 51.7 |
ISG | 3.6 |  |  | 3.5 |  |  | 2.6 |
Unallocated corporate amounts | 5.3 |  |  | 3.9 |  |  | 2.2 |
Total | $ | 64.0 |  |  | $ | 66.7 |  |  | $ | 56.5 |
____________________________ (1) These amounts represent 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, |  |
| 2024 |  | 2023 |  | 2022 |  |
Operating profit - ABL | $ | 582.8 |  |  | $ | 509.5 |  |  | $ | 545.6 |  |  |
Operating profit - ISG | 43.6 |  |  | 32.1 |  |  | 22.7 |  |  |
Unallocated corporate amounts | (73.1) |  |  | (68.2) |  |  | (58.6) |  |  |
Operating profit | 553.3 |  |  | 473.4 |  |  | 509.7 |  |  |
Interest (income) expense, net | (4.5) |  |  | 18.9 |  |  | 24.9 |  |  |
Miscellaneous expense (income), net | 9.2 |  |  | 7.8 |  |  | (9.1) |  |  |
Income before income taxes | $ | 548.6 |  |  | $ | 446.7 |  |  | $ | 493.9 |  |  |
During the fourth quarter of fiscal 2023, we recognized charges within our ABL segment of $14.0 million for trade name impairments, $13.0 million for the collectability of a supplier warranty obligation owed to us for components we used in products manufactured and sold between 2017 and 2019, and $4.1 million for employee severance costsSupplemental Disaggregated Information Sales of lighting, lighting controls, and building technology solutions, excluding services accounted for approximately 99% of total consolidated net sales in fiscal 2024, 2023, and 2022. Our geographic distribution of net sales, operating profit, income before 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,
| 2024 |  | 2023 |  | 2022
Net sales(1): |  |  |  |  |
Domestic(2) | $ | 3,262.9 |  |  | $ | 3,412.9 |  |  | $ | 3,486.4 |
International | 578.1 |  |  | 539.3 |  |  | 519.7 |
Total net sales | $ | 3,841.0 |  |  | $ | 3,952.2 |  |  | $ | 4,006.1 |
Long-lived assets(3): |  |  |  |  |
Domestic(2) | $ | 295.7 |  |  | $ | 323.8 |  |  | $ | 325.9 |
International | 105.9 |  |  | 107.4 |  |  | 73.5 |
Total long-lived assets | $ | 401.6 |  |  | $ | 431.2 |  |  | $ | 399.4 |
_______________________________________ (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.

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- Definition The entire disclosure for reporting segments including data and tables. 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