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Industry Segment Information | 3 Months Ended
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May 31, 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 nine months ended May 31, 2012 and 2011. Summarized financial information concerning the Company’s reportable segments is shown in the following table:
|  | Three months ended |  | Nine months ended
|  | May 31, |  | May 31,
$ in thousands |  | 2012 |  | 2011 |  | 2012 |  | 2011
Operating revenues: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 149,624 |  | $ | 126,903 |  | $ | 367,388 |  | $ | 278,570
Infrastructure |  |  | 22,475 |  |  | 26,543 |  |  | 56,050 |  |  | 84,210
Total operating revenues |  | $ | 172,099 |  | $ | 153,446 |  | $ | 423,438 |  | $ | 362,780
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 31,242 |  | $ | 25,584 |  | $ | 64,046 |  | $ | 47,490
Infrastructure |  |  | 1,433 |  |  | 1,081 |  |  | (699) |  |  | 9,367
Segment operating income |  |  | 32,675 |  |  | 26,665 |  |  | 63,347 |  |  | 56,857
Unallocated general and administrative expenses |  |  | (3,888) |  |  | (3,524) |  |  | (10,529) |  |  | (10,045)
Interest and other income (expense), net |  |  | (200) |  |  | 18 |  |  | (363) |  |  | (75)
Earnings before income taxes |  | $ | 28,587 |  | $ | 23,159 |  | $ | 52,455 |  | $ | 46,737
Total Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 2,662 |  | $ | 751 |  | $ | 6,493 |  | $ | 2,789
Infrastructure |  |  | 188 |  |  | 162 |  |  | 1,080 |  |  | 2,526
|  | $ | 2,850 |  | $ | 913 |  | $ | 7,573 |  | $ | 5,315
Total Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 1,710 |  | $ | 1,329 |  | $ | 5,055 |  | $ | 4,069
Infrastructure |  |  | 1,439 |  |  | 1,611 |  |  | 4,329 |  |  | 4,751
|  | $ | 3,149 |  | $ | 2,940 |  | $ | 9,384 |  | $ | 8,820
Total Environmental Remediation Expenses |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | - |  | $ | 393 |  | $ | 6,141 |  | $ | 999
Infrastructure |  |  | - |  |  | 69 |  |  | 1,084 |  |  | 176
|  | $ | - |  | $ | 462 |  | $ | 7,225 |  | $ | 1,175
|  | May 31, |  | May 31, |  | August 31, |
$ in thousands |  | 2012 |  | 2011 |  | 2011 |
Total Assets: |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 304,515 |  | $ | 268,283 |  | $ | 267,275 |
Infrastructure |  |  | 112,433 |  |  | 109,523 |  |  | 113,869 |
|  | $ | 416,948 |  | $ | 377,806 |  | $ | 381,144 |

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- 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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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=6534315&loc=d3e8906-108599 Reference 3: 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=6534315&loc=d3e8933-108599 Reference 4: 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=6534315&loc=d3e8984-108599 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=6534315&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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: 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=6534315&loc=d3e9054-108599 Reference 8: 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=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: 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=6534315&loc=d3e8981-108599 Reference 11: 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=6534315&loc=d3e8971-108599 Reference 12: 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=6534315&loc=d3e8844-108599 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=6534315&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 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: 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=6534315&loc=d3e9038-108599 + Details
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