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Segment Information
 9 Months Ended
May 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our financial results of operations in two reportable segments, ABL and ISG, consistent with how our chief operating decision maker currently 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 within our Form 10-K. 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 expense, net miscellaneous expense, and income tax expense are not allocated to segments.
We recorded no special charges during the three and nine months ended May 31, 2024. We recorded no special charges during the three months ended May 31, 2023. Special charges during the nine months ended May 31, 2023 of $6.9 million pertained to the ABL segment.
The following table presents financial information by operating segment for the periods presented (in millions):
Three Months EndedNine Months Ended
May 31, 2024May 31, 2023May 31, 2024May 31, 2023
Net sales:
ABL$898.5 $940.7 $2,618.4 $2,778.6 
ISG75.7 65.8 208.0 180.8 
Eliminations(1)
(6.1)(6.2)(17.7)(17.6)
Total$968.1 $1,000.3 $2,808.7 $2,941.8 
Operating profit:
ABL$151.5 $150.0 $421.3 $391.7 
ISG12.5 8.6 26.9 22.7 
Unallocated corporate amounts(18.7)(15.3)(51.9)(50.7)
Total$145.3 $143.3 $396.3 $363.7 
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(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 for the periods presented (in millions):
Three Months EndedNine Months Ended
May 31, 2024May 31, 2023May 31, 2024May 31, 2023
Operating profit - ABL$151.5 $150.0 $421.3 $391.7 
Operating profit - ISG12.5 8.6 26.9 22.7 
Unallocated corporate amounts(18.7)(15.3)(51.9)(50.7)
Operating profit145.3 143.3 396.3 363.7 
Interest (income) expense, net(1.8)3.9 (1.0)16.2 
Miscellaneous (income) expense, net(0.5)0.7 1.2 6.1 
Income before income taxes$147.6 $138.7 $396.1 $341.4