XML 40 R23.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Business Segment, Geographic and Customer Information | 12 Months Ended
--- | ---
Aug. 31, 2016
Segment Reporting [Abstract] |
Business Segment, Geographic and Customer Information | Note 13. Business Segment, Geographic and Customer Information The Company is a global manufacturer of a broad range of industrial products and systems and is organized into three reportable segments: Industrial, Energy and Engineered Solutions. The Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets. The Energy segment provides joint integrity products and services, customized offshore vessel mooring solutions, as well as rope and cable solutions to the global oil & gas, power generation and other markets. The Engineered Solutions segment provides highly engineered position and motion control systems to original equipment manufacturers (“OEM”) in various on and off-highway vehicle markets, as well as a variety of other products to the industrial and agricultural markets. The following tables summarize financial information by reportable segment and product line (in thousands):
|  | Year Ended August 31,
|  | 2016 |  | 2015 |  | 2014
Net Sales by Reportable Product Line & Segment: |  |  |  |  |  |
Industrial Segment: |  |  |  |  |  |
Integrated Solutions |  | $ | 44,985 |  |  | $ | 47,294 |  |  | $ | 52,962 |
Industrial Tools |  | 314,832 |  |  | 355,170 |  |  | 360,940 |
|  | 359,817 |  |  | 402,464 |  |  | 413,901 |
Energy Segment: |  |  |  |  |  |
Energy Maintenance & Integrity |  | 278,881 |  |  | 246,357 |  |  | 267,500 |
Other Energy Services |  | 113,849 |  |  | 165,518 |  |  | 194,869 |
|  | 392,731 |  |  | 411,875 |  |  | 462,368 |
Engineered Solutions Segment: |  |  |  |  |  |
On-Highway |  | 209,575 |  |  | 220,889 |  |  | 272,201 |
Agriculture, Off-Highway and Other |  | 187,287 |  |  | 214,026 |  |  | 251,391 |
|  | 396,862 |  |  | 434,915 |  |  | 523,592 |
|  | $ | 1,149,410 |  |  | $ | 1,249,254 |  |  | $ | 1,399,862 |
Operating Profit (Loss): |  |  |  |  |  |  |  |  |
Industrial |  | $ | 79,773 |  |  | $ | 105,652 |  |  | $ | 120,250 |
Energy (1) |  | (107,528 | ) |  | (41,351 | ) |  | 56,412 |
Engineered Solutions (2) |  | (42,991 | ) |  | 19,789 |  |  | 55,430 |
Corporate |  | (29,471 | ) |  | (30,536 | ) |  | (28,984 | )
|  | $ | (100,217 | ) |  | $ | 53,554 |  |  | $ | 203,108 |
(1) Energy segment operating profit (loss) includes impairment charges of $140.9 million and $84.4 million in fiscal 2016 and 2015, respectively. (2) Engineered Solutions segment operating profit (loss) includes an impairment charge of $45.7 million in fiscal 2016.
Depreciation and Amortization: |  |  |  |  |  |
Industrial |  | $ | 8,175 |  |  | $ | 8,257 |  |  | $ | 7,597 |
Energy |  | 21,944 |  |  | 26,532 |  |  | 33,983 |
Engineered Solutions |  | 15,910 |  |  | 16,652 |  |  | 17,602 |
Corporate |  | 1,749 |  |  | 1,798 |  |  | 1,453 |
|  | $ | 47,777 |  |  | $ | 53,239 |  |  | $ | 60,635 |
Capital Expenditures |  |  |  |  |  |  |  |  |
Industrial |  | $ | 2,570 |  |  | $ | 1,249 |  |  | $ | 3,349 |
Energy |  | 9,355 |  |  | 11,864 |  |  | 26,787 |
Engineered Solutions |  | 5,974 |  |  | 8,472 |  |  | 8,763 |
Corporate |  | 2,310 |  |  | 931 |  |  | 2,958 |
|  | $ | 20,209 |  |  | $ | 22,516 |  |  | $ | 41,857 |
|  | August 31,
|  | 2016 |  | 2015
Assets: |  |  |  |  |  |
Industrial |  | $ | 308,222 |  |  | $ | 293,738 |
Energy |  | 479,169 |  |  | 601,521 |
Engineered Solutions |  | 493,840 |  |  | 588,200 |
Corporate |  | 161,307 |  |  | 153,458 |
|  | $ | 1,442,538 |  |  | $ | 1,636,917 |
In addition to the impact of changes in foreign currency exchange rates, the comparability of segment and product line information is impacted by acquisition/divestiture activities, impairment charges, restructuring costs and related benefits. Corporate assets, which are not allocated, principally represent cash and cash equivalents, capitalized debt issuance costs and deferred income taxes. The following tables summarize sales and long-lived assets (fixed assets and other long-term assets) by geographic region (in thousands):
|  | Year Ended August 31,
|  | 2016 |  | 2015 |  | 2014
Net Sales: |  |  |  |  |  |  |  |  |
United States |  | $ | 477,670 |  |  | $ | 526,061 |  |  | $ | 573,590 |
Netherlands |  | 143,517 |  |  | 139,432 |  |  | 151,549 |
United Kingdom |  | 115,183 |  |  | 113,743 |  |  | 162,508 |
Australia |  | 62,779 |  |  | 94,319 |  |  | 82,778 |
United Arab Emirates |  | 55,906 |  |  | 44,211 |  |  | 18,101 |
All other |  | 294,355 |  |  | 331,488 |  |  | 411,336 |
|  | $ | 1,149,410 |  |  | $ | 1,249,254 |  |  | $ | 1,399,862 |
|  | August 31,
|  | 2016 |  | 2015
Long-lived Assets: |  |  |  |
United States |  | $ | 32,205 |  |  | $ | 41,645 |
China |  | 16,863 |  |  | 18,199 |
Australia |  | 15,399 |  |  | 15,227 |
United Kingdom |  | 9,914 |  |  | 21,704 |
United Arab Emirates |  | 8,399 |  |  | 1,104 |
All other |  | 34,399 |  |  | 47,183 |
|  | $ | 117,179 |  |  | $ | 145,062 |
The Company’s largest customer accounted for less than 3% of sales in each of the last three fiscal years. Export sales from domestic operations were approximately 6% of total net sales in each of the periods presented. In fiscal 2016, sales of products contributed approximately 80% of consolidated net sales, with the remaining revenue generated from engineering and technical manpower services, rental contracts and other sources. We provide certain Energy segment customers bundled products, services and rental assets. Further, our systems do not allocate costs between these sales categories. As a result, it is neither practical nor cost effective to disaggregate revenue and cost of sales separately for product sales, rental income and service revenue.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration