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Segment Information | 9 Months Ended
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May 31, 2026
Segment Reporting [Abstract] |
Segment Information | Segment Information We report our financial results of operations in two reportable segments, ABL and AIS, consistent with how our chief operating decision maker (“CODM”), Neil Ashe, Chairman, President and Chief Executive Officer, evaluates operating results, assesses performance, and allocates resources within the Company. See the Description of Business and Basis of Presentation footnote of the Notes to Consolidated Financial Statements for further details on how we identify our reportable segments. For both segments, our CODM uses segment operating profit as the measurement of segment profit to allocate resources and assess performance. Our CODM considers target-to-actual differences in operating profit when making decisions on how to allocate capital and resources. Additionally, he considers segment operating profit when evaluating employee compensation and personnel allocations. 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 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. The following table presents financial information by operating segment for the periods presented (in millions):
| Three Months Ended May 31, 2026
| ABL |  | AIS |  | Corporate |  | Eliminations |  | Total
Net sales | $ | 905.2 |  |  | $ | 303.5 |  |  | $ | — |  |  | $ | (10.7) |  |  | $ | 1,198.0 |
Cost of products sold | 481.8 |  |  | 120.5 |  |  | — |  |  | (10.7) |  |  | 591.6 |
Selling, distribution, and administrative expenses | 262.8 |  |  | 126.5 |  |  | 23.8 |  |  | — |  |  | 413.1 |
Operating profit | $ | 160.6 |  |  | $ | 56.5 |  |  | $ | (23.8) |  |  | $ | — |  |  | 193.3 |
Interest expense, net |  |  |  |  |  |  |  |  | 6.1 |
Miscellaneous expense, net |  |  |  |  |  |  |  |  | 2.0 |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 185.2 |
Supplemental Information: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 19.5 |  |  | $ | 20.5 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 40.7 |
Segment assets | 840.0 |  |  | 229.2 |  |  | 3,566.2 |  |  | — |  |  | 4,635.4 |
Capital expenditures | 14.1 |  |  | 2.4 |  |  | 0.2 |  |  | — |  |  | 16.7 |
| Three Months Ended May 31, 2025
| ABL |  | AIS |  | Corporate |  | Eliminations |  | Total
Net sales | $ | 923.2 |  |  | $ | 264.1 |  |  | $ | — |  |  | $ | (8.7) |  |  | $ | 1,178.6 |
Cost of products sold | 492.8 |  |  | 124.3 |  |  | — |  |  | (8.7) |  |  | 608.4 |
Selling, distribution, and administrative expenses | 266.7 |  |  | 112.4 |  |  | 21.6 |  |  | — |  |  | 400.7 |
Special charges | 29.7 |  |  | — |  |  | — |  |  | — |  |  | 29.7 |
Operating profit | $ | 134.0 |  |  | $ | 27.4 |  |  | $ | (21.6) |  |  | $ | — |  |  | 139.8 |
Interest expense, net |  |  |  |  |  |  |  |  | 12.1 |
Miscellaneous expense, net |  |  |  |  |  |  |  |  | 2.3 |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 125.4 |
Supplemental Information: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 17.7 |  |  | $ | 16.3 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 34.6 |
Segment assets | 900.3 |  |  | 194.3 |  |  | 3,551.7 |  |  | — |  |  | 4,646.3 |
Capital expenditures | 9.4 |  |  | 5.6 |  |  | — |  |  | — |  |  | 15.0 |
| Nine Months Ended May 31, 2026
| ABL |  | AIS |  | Corporate |  | Eliminations |  | Total
Net sales | $ | 2,617.7 |  |  | $ | 809.0 |  |  | $ | — |  |  | $ | (29.3) |  |  | $ | 3,397.4 |
Cost of products sold | 1,419.9 |  |  | 326.2 |  |  | — |  |  | (29.3) |  |  | 1,716.8 |
Selling, distribution, and administrative expenses | 757.2 |  |  | 361.0 |  |  | 69.8 |  |  | — |  |  | 1,188.0 |
Special charges | 5.9 |  |  | — |  |  | — |  |  | — |  |  | 5.9 |
Operating profit | $ | 434.7 |  |  | $ | 121.8 |  |  | $ | (69.8) |  |  | $ | — |  |  | 486.7 |
Interest expense, net |  |  |  |  |  |  |  |  | 21.5 |
Miscellaneous expense, net |  |  |  |  |  |  |  |  | 4.5 |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 460.7 |
Supplemental Information: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 54.5 |  |  | $ | 61.3 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 117.8 |
Segment assets | 840.0 |  |  | 229.2 |  |  | 3,566.2 |  |  | — |  |  | 4,635.4 |
Capital expenditures | 50.2 |  |  | 6.6 |  |  | 1.7 |  |  | — |  |  | 58.5 |
| Nine Months Ended May 31, 2025
| ABL |  | AIS |  | Corporate |  | Eliminations |  | Total
Net sales | $ | 2,649.8 |  |  | $ | 509.1 |  |  | $ | — |  |  | $ | (22.4) |  |  | $ | 3,136.5 |
Cost of products sold | 1,435.0 |  |  | 236.4 |  |  | — |  |  | (22.4) |  |  | 1,649.0 |
Selling, distribution, and administrative expenses | 777.5 |  |  | 224.6 |  |  | 72.4 |  |  | — |  |  | 1,074.5 |
Special charges | 29.7 |  |  | — |  |  | — |  |  | — |  |  | 29.7 |
Operating profit | $ | 407.6 |  |  | $ | 48.1 |  |  | $ | (72.4) |  |  | $ | — |  |  | 383.3 |
Interest expense, net |  |  |  |  |  |  |  |  | 15.0 |
Miscellaneous expense, net |  |  |  |  |  |  |  |  | 5.8 |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 362.5 |
Supplemental Information: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 53.4 |  |  | $ | 31.5 |  |  | $ | 1.8 |  |  | $ | — |  |  | $ | 86.7 |
Segment assets | 900.3 |  |  | 194.3 |  |  | 3,551.7 |  |  | — |  |  | 4,646.3 |
Capital expenditures | 34.9 |  |  | 8.5 |  |  | 0.2 |  |  | — |  |  | 43.6 |

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