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Industry Segment Information
 12 Months Ended
Aug. 31, 2016
Industry Segment Information [Abstract]  
Industry Segment Information

Note 17 – Industry Segment Information 



The Company manages its business activities in two reportable segments: Irrigation and Infrastructure.  The accounting policies of the two reportable segments are the same as those described in Note 1, Description of Business and Significant Accounting Policies.  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 and other overhead charges directly attributable to the segment.  There are no inter-segment sales.   



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, controls, filtration solutions and M2M technology.  The irrigation reporting segment consists of three 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, crash cushions and end terminals, and road marking and road safety equipment; the manufacturing and selling of large diameter steel tubing and railroad signals and structures; and providing outsourced manufacturing and production services.  The infrastructure reporting segment consists of one operating segment.

 

The Company has no single major customer representing 10 percent or more of its total revenues during fiscal 2016,  2015, or 2014.



Summarized financial information concerning the Company’s reportable segments is shown in the following tables:







 

 

 

 

 

 

 

 

 



 

 

 

($ in thousands)

 

2016

 

2015

 

2014

Operating revenues:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 421,641 

 

$

 451,205 

 

$

 539,943 

     Infrastructure

 

 

 94,770 

 

 

 108,976 

 

 

 77,990 

Total operating revenues

 

$

 516,411 

 

$

 560,181 

 

$

 617,933 



 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 49,232 

 

$

 52,065 

 

$

 91,697 

     Infrastructure

 

 

 18,535 

 

 

 20,249 

 

 

 3,511 

Segment operating income

 

 

 67,767 

 

 

 72,314 

 

 

 95,208 



 

 

 

 

 

 

 

 

 

Unallocated general and administrative expenses

 

 

 (33,392)

 

 

 (21,619)

 

 

 (16,850)

Interest and other income (expense), net

 

 

 (5,087)

 

 

 (3,944)

 

 

 297 

Earnings before income taxes

 

$

 29,288 

 

$

 46,751 

 

$

 78,655 



 

 

 

 

 

 

 

 

 

Total capital expenditures:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 8,375 

 

$

 12,406 

 

$

 14,778 

     Infrastructure

 

 

 2,977 

 

 

 2,671 

 

 

 2,181 

     Corporate

 

 

 144 

 

 

 167 

 

 

 756 



 

$

 11,496 

 

$

 15,244 

 

$

 17,715 



 

 

 

 

 

 

 

 

 

Total depreciation and amortization:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 11,774 

 

$

 11,000 

 

$

 9,125 

     Infrastructure

 

 

 4,648 

 

 

 4,966 

 

 

 5,299 

     Corporate

 

 

 459 

 

 

 446 

 

 

 369 



 

$

 16,881 

 

$

 16,412 

 

$

 14,793 







 

 

 

 

 

 

 

 

 

Total assets:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 341,972 

 

$

 328,036 

 

$

 280,031 

     Infrastructure

 

 

 83,531 

 

 

 81,494 

 

 

 96,488 

     Corporate

 

 

 74,061 

 

 

 126,938 

 

 

 150,033 



 

$

 499,565 

 

$

 536,468 

 

$

 526,551 



 

 

 

 

 

 

 

 

 



Summarized financial information concerning the Company’s geographical areas is shown in the following tables.







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

For the years ended August 31,

($ in thousands)

 

 

2016

 

 

2015

 

 

2014



 

Revenues

 

% of total

 

Revenues

 

% of total

 

Revenues

 

% of total

United States

 

$

 321,554 

 

 62 

 

$

 350,290 

 

 63 

 

$

 377,652 

 

 61 

International

 

 

 194,857 

 

 38 

 

 

 209,891 

 

 37 

 

 

 240,281 

 

 39 

Total revenues

 

$

 516,411 

 

 100 

 

$

 560,181 

 

 100 

 

$

 617,933 

 

 100 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

For the years ended August 31,

($ in thousands)

 

 

2016

 

 

2015

 

 

2014



 

Long-lived tangible assets

 

% of total

 

Long-lived tangible assets

 

% of total

 

Long-lived tangible assets

 

% of total

United States

 

$

 58,098 

 

 75 

 

$

 61,332 

 

 78 

 

$

 55,378 

 

 76 

International

 

 

 19,529 

 

 25 

 

 

 17,324 

 

 22 

 

 

 17,079 

 

 24 

Total long-lived assets

 

$

 77,627 

 

 100 

 

$

 78,656 

 

 100 

 

$

 72,457 

 

 100