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Industry Segment Information
 6 Months Ended
Feb. 29, 2012
Industry Segment Information [Abstract]  
Industry Segment Information

(13) Industry Segment Information

The Company manages its business activities in two reportable segments:

Irrigation: This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems as well as various water pumping stations and controls. The irrigation reporting segment consists of twelve operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution.

Infrastructure: This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers and crash cushions; providing outsource manufacturing services and the manufacturing and selling of large diameter steel tubing and railroad signals and structures. The infrastructure reporting segment consists of three operating segments that have similar economic characteristics and meet the aggregation criteria.

The Company evaluates the performance of its reportable segments based on segment sales, gross profit, and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses, and income taxes. Operating income for segment purposes does include general and administrative expenses, selling expenses, engineering and research expenses, environmental remediation expenses and other overhead charges directly attributable to the segment. There are no inter-reporting segment sales.

The Company had no single customer representing 10 percent or more of its total revenues during the three and six months ended February 29, 2012 and February 28, 2011. Summarized financial information concerning the Company's reportable segments is shown in the following table:

 

  Three months ended Six months ended
$ in thousands February 29,
2012		 February 28,
2011		 February 29,
2012		 February 28,
2011
Operating revenues:                        
Irrigation $ 116,988   $ 91,658   $ 217,764   $ 151,667  
Infrastructure   15,146     28,510     33,575     57,667  
Total operating revenues $ 132,134   $ 120,168   $ 251,339   $ 209,334  
 
Operating income (loss):                        
Irrigation(1) $ 23,019   $ 16,005   $ 32,804   $ 21,906  
Infrastructure(1)   (955 )   4,261     (2,132 )   8,286  
Segment operating income(1)   22,064     20,266     30,672     30,192  
Unallocated general and administrative expenses   (3,116 )   (3,205 )   (6,641 )   (6,521 )
Interest and other income (expense), net   479     (60 )   (163 )   (93 )
Earnings before income taxes $ 19,427   $ 17,001   $ 23,868   $ 23,578  
 
Total Capital Expenditures:                        
Irrigation $ 1,795   $ 1,182   $ 3,831   $ 2,038  
Infrastructure   296     1,736     892     2,364  
  $ 2,091   $ 2,918   $ 4,723   $ 4,402  
Total Depreciation and Amortization:                        
Irrigation $ 1,675   $ 1,388   $ 3,345   $ 2,740  
Infrastructure   1,435     1,566     2,890     3,140  
  $ 3,110   $ 2,954   $ 6,235   $ 5,880  

 

(1)

There were no environmental remediation expenses allocated to the irrigation segment and the infrastructure segment, respectively, for the three months ended February 29, 2012 and February 28, 2011. Environmental remediation expenses of $6.1 million and $1.1 million were allocated to the irrigation segment and the infrastructure segment, respectively, for the six months ended February 29, 2012 and February 28, 2011.

$ in thousands February 29,
2012		 February 28,
2011		 August 31,
2011
Total Assets:            
Irrigation $ 278,569 $ 227,341 $ 267,275
Infrastructure   115,031   115,916   113,869
  $ 393,600 $ 343,257 $ 381,144