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Industry Segment Information | 12 Months Ended
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Aug. 31, 2018
Segment Reporting [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 included in the amounts disclosed. Irrigation This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications. The irrigation reporting segment consists of one operating segment. 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 ten percent or more of its total revenues during fiscal 2018, 2017, or 2016. Summarized financial information concerning the Company’s reportable segments is shown in the following tables:
($ in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Operating revenues: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 439,858 |  |  | $ | 418,041 |  |  | $ | 421,641 |
Infrastructure |  |  | 107,847 |  |  |  | 99,944 |  |  |  | 94,770 |
Total operating revenues |  | $ | 547,705 |  |  | $ | 517,985 |  |  | $ | 516,411 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 41,933 |  |  | $ | 42,774 |  |  | $ | 49,232 |
Infrastructure |  |  | 23,857 |  |  |  | 20,131 |  |  |  | 18,535 |
Corporate |  |  | (27,227 | ) |  |  | (22,704 | ) |  |  | (33,392 | )
Total operating income |  |  | 38,563 |  |  |  | 40,201 |  |  |  | 34,375 |
Interest and other income (expense), net |  |  | (4,710 | ) |  |  | (4,486 | ) |  |  | (5,087 | )
Earnings before income taxes |  | $ | 33,853 |  |  | $ | 35,715 |  |  | $ | 29,288 |
Total capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 9,259 |  |  | $ | 6,313 |  |  | $ | 8,375 |
Infrastructure |  |  | 938 |  |  |  | 1,562 |  |  |  | 2,977 |
Corporate |  |  | 857 |  |  |  | 988 |  |  |  | 144 |
|  | $ | 11,054 |  |  | $ | 8,863 |  |  | $ | 11,496 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 11,412 |  |  | $ | 11,840 |  |  | $ | 11,774 |
Infrastructure |  |  | 4,611 |  |  |  | 4,452 |  |  |  | 4,648 |
Corporate |  |  | 491 |  |  |  | 386 |  |  |  | 459 |
|  | $ | 16,514 |  |  | $ | 16,678 |  |  | $ | 16,881 |
Total assets: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 277,712 |  |  | $ | 337,446 |  |  | $ | 332,294 |
Infrastructure |  |  | 69,919 |  |  |  | 80,187 |  |  |  | 81,160 |
Corporate |  |  | 152,625 |  |  |  | 88,399 |  |  |  | 74,061 |
|  | $ | 500,256 |  |  | $ | 506,032 |  |  | $ | 487,515 |
Summarized financial information concerning the Company’s geographical areas is shown in the following tables.
|  | For the years ended August 31, |
($ in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
|  | Revenues |  |  | % of total |  |  | Revenues |  |  | % of total |  |  | Revenues |  |  | % of total |
United States |  | $ | 321,698 |  |  |  | 59 |  |  | $ | 297,261 |  |  |  | 57 |  |  | $ | 321,554 |  |  |  | 62 |
International |  |  | 226,007 |  |  |  | 41 |  |  |  | 220,724 |  |  |  | 43 |  |  |  | 194,857 |  |  |  | 38 |
Total revenues |  | $ | 547,705 |  |  |  | 100 |  |  | $ | 517,985 |  |  |  | 100 |  |  | $ | 516,411 |  |  |  | 100 |
|  | For the years ended August 31, |
($ in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
|  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |
United States |  | $ | 39,290 |  |  |  | 69 |  |  | $ | 54,199 |  |  |  | 73 |  |  | $ | 58,098 |  |  |  | 75 |
International |  |  | 17,958 |  |  |  | 31 |  |  |  | 20,299 |  |  |  | 27 |  |  |  | 19,529 |  |  |  | 25 |
Total long-lived assets |  | $ | 57,248 |  |  |  | 100 |  |  | $ | 74,498 |  |  |  | 100 |  |  | $ | 77,627 |  |  |  | 100 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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