XML 41 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

Industry Segment Information | 12 Months Ended
--- | ---
Aug. 31, 2021
Segment Reporting [Abstract] |
Industry Segment Information | Note 18 – 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 2021, 2020, or 2019. Summarized financial information concerning the Company’s reportable segments is shown in the following tables:
($ in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Operating revenues: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 273,871 |  |  | $ | 224,771 |  |  | $ | 225,677 |
International |  |  | 197,487 |  |  |  | 124,575 |  |  |  | 132,871 |
Irrigation total |  |  | 471,358 |  |  |  | 349,346 |  |  |  | 358,548 |
Infrastructure |  |  | 96,288 |  |  |  | 125,346 |  |  |  | 85,524 |
Total operating revenues |  | $ | 567,646 |  |  | $ | 474,692 |  |  | $ | 444,072 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 63,181 |  |  | $ | 41,263 |  |  | $ | 29,374 |
Infrastructure |  |  | 20,174 |  |  |  | 42,722 |  |  |  | 17,029 |
Corporate |  |  | (29,248 | ) |  |  | (29,783 | ) |  |  | (40,288 | )
Total operating income |  |  | 54,107 |  |  |  | 54,202 |  |  |  | 6,115 |
Total other (expense) income |  |  | (3,721 | ) |  |  | (5,359 | ) |  |  | (4,008 | )
Earnings before income taxes |  | $ | 50,386 |  |  | $ | 48,843 |  |  | $ | 2,107 |
Total capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 19,188 |  |  | $ | 9,254 |  |  | $ | 9,473 |
Infrastructure |  |  | 6,866 |  |  |  | 11,275 |  |  |  | 4,928 |
Corporate |  |  | 457 |  |  |  | 916 |  |  |  | 8,810 |
|  | $ | 26,511 |  |  | $ | 21,445 |  |  | $ | 23,211 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 12,245 |  |  | $ | 12,906 |  |  | $ | 9,500 |
Infrastructure |  |  | 3,748 |  |  |  | 3,495 |  |  |  | 3,663 |
Corporate |  |  | 3,183 |  |  |  | 2,994 |  |  |  | 855 |
|  | $ | 19,177 |  |  | $ | 19,396 |  |  | $ | 14,018 |
Summarized financial information concerning the Company’s geographical areas is shown in the following tables.
|  | For the years ended August 31, |
($ in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
|  | Revenues |  |  | % of total |  |  | Revenues |  |  | % of total |  |  | Revenues |  |  | % of total |
United States |  | $ | 307,313 |  |  |  | 54 |  |  | $ | 259,557 |  |  |  | 55 |  |  | $ | 257,719 |  |  |  | 58 |
International |  |  | 260,333 |  |  |  | 46 |  |  |  | 215,135 |  |  |  | 45 |  |  |  | 186,353 |  |  |  | 42 |
Total revenues |  | $ | 567,646 |  |  |  | 100 |  |  | $ | 474,692 |  |  |  | 100 |  |  | $ | 444,072 |  |  |  | 100 |
|  | For the years ended August 31, |
($ in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
|  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |
United States |  | $ | 68,526 |  |  |  | 74 |  |  | $ | 64,857 |  |  |  | 81 |  |  | $ | 52,187 |  |  |  | 76 |
International |  |  | 23,471 |  |  |  | 26 |  |  |  | 14,724 |  |  |  | 19 |  |  |  | 16,781 |  |  |  | 24 |
Total long-lived assets |  | $ | 91,997 |  |  |  | 100 |  |  | $ | 79,581 |  |  |  | 100 |  |  | $ | 68,968 |  |  |  | 100 |
Total assets by reportable segment are not disclosed because such information is not used by the Company to allocate resources or evaluate performance.

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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration