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Business Segments | 12 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
Business Segments | Note 18 – Business Segments The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM utilizes operating income to guide resource allocation across reportable segments as part of the Company’s strategic and annual planning efforts, and to assess segment performance by comparing planned results to actual outcomes. The CODM manages the Company's 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. The CODM evaluates the performance of its reportable segments based on segment revenues 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 and large diameter steel tubing, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, and industrial internet of things, or "IIoT", solutions. 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 infrastructure reporting segment consists of one operating segment. In fiscal year 2025, one customer within the Company's irrigation segment accounted for approximately 13% of consolidated revenues relating to the large irrigation project in the MENA region. In fiscal years 2024 and 2023, no individual customer accounted for more than 10% of consolidated revenue. Summarized financial information concerning the Company’s reportable segments is shown in the following tables:
|  |  | August 31, 2025
($ in thousands) |  | Irrigation |  | Infrastructure |  | Consolidated
Operating revenues |  | $ | 568,000 | (1) | $ | 108,368 |  | $ | 676,368
Cost of operating revenues |  |  | 402,126 |  |  | 63,462 |  |  | 465,588
Gross profit |  |  | 165,874 |  |  | 44,906 |  |  | 210,780
Operating expenses |  |  | 68,911 |  |  | 18,568 |  |  | 87,479
Segment operating income |  | $ | 96,963 |  | $ | 26,338 |  | $ | 123,301
Unallocated corporate expenses |  |  |  |  |  |  |  |  | 35,177
Operating income |  |  |  |  |  |  |  | $ | 88,124
(1) includes domestic revenues of $273,839 and international revenues of $294,161
|  |  | August 31, 2024
($ in thousands) |  | Irrigation |  | Infrastructure |  | Consolidated
Operating revenues |  | $ | 513,896 | (1) | $ | 93,178 |  | $ | 607,074
Cost of operating revenues |  |  | 358,390 |  |  | 57,629 |  |  | 416,019
Gross profit |  |  | 155,506 |  |  | 35,549 |  |  | 191,055
Operating expenses |  |  | 67,959 |  |  | 16,554 |  |  | 84,513
Segment operating income |  | $ | 87,547 |  | $ | 18,995 |  | $ | 106,542
Unallocated corporate expenses |  |  |  |  |  |  |  |  | 29,934
Operating income |  |  |  |  |  |  |  | $ | 76,608
(1) includes domestic revenues of $302,148 and international revenues of $211,748
|  |  | August 31, 2023
($ in thousands) |  | Irrigation |  | Infrastructure |  | Consolidated
Operating revenues |  | $ | 586,031 | (1) | $ | 88,053 |  | $ | 674,084
Cost of operating revenues |  |  | 401,427 |  |  | 59,642 |  |  | 461,069
Gross profit |  |  | 184,604 |  |  | 28,411 |  |  | 213,015
Operating expenses |  |  | 62,635 |  |  | 16,344 |  |  | 78,979
Segment operating income |  | $ | 121,969 |  | $ | 12,067 |  | $ | 134,036
Unallocated corporate expenses |  |  |  |  |  |  |  |  | 31,852
Operating income |  |  |  |  |  |  |  | $ | 102,184
(1) includes domestic revenues of $309,538 and international revenues of $276,493
Summarized financial information concerning the Company’s capital expenditures and depreciation and amortization is shown in the following tables.
|  | For the years ended August 31, |
($ in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
Total capital expenditures: |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 38,026 |  |  | $ | 24,720 |  |  | $ | 13,043 |
Infrastructure |  |  | 4,147 |  |  |  | 4,207 |  |  |  | 5,287 |
Corporate |  |  | 323 |  |  |  | 52 |  |  |  | 445 |
|  | $ | 42,496 |  |  | $ | 28,979 |  |  | $ | 18,775 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Irrigation |  | $ | 14,198 |  |  | $ | 14,480 |  |  | $ | 12,834 |
Infrastructure |  |  | 4,417 |  |  |  | 4,396 |  |  |  | 4,023 |
Corporate |  |  | 2,281 |  |  |  | 2,324 |  |  |  | 2,425 |
|  | $ | 20,896 |  |  | $ | 21,200 |  |  | $ | 19,282 |
Summarized financial information concerning the Company’s geographical areas is shown in the following tables.
|  |  | For the years ended August 31,
($ in thousands) |  |  | 2025 |  |  | 2024 |  |  | 2023
|  |  | Revenues |  | % of total |  |  | Revenues |  | % of total |  |  | Revenues |  | % of total
United States |  | $ | 350,229 |  | 52 |  | $ | 338,429 |  | 56 |  | $ | 347,238 |  | 52
International |  |  | 326,139 |  | 48 |  |  | 268,645 |  | 44 |  |  | 326,846 |  | 48
Total revenues |  | $ | 676,368 |  | 100 |  | $ | 607,074 |  | 100 |  | $ | 674,084 |  | 100
|  | For the years ended August 31, |
($ in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
|  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |  |  | Long-lived tangible assets |  |  | % of total |
United States |  | $ | 116,771 |  |  |  | 82 |  |  | $ | 89,175 |  |  |  | 79 |  |  | $ | 76,428 |  |  |  | 77 |
International |  |  | 25,536 |  |  |  | 18 |  |  |  | 23,640 |  |  |  | 21 |  |  |  | 23,253 |  |  |  | 23 |
Total long-lived assets |  | $ | 142,307 |  |  |  | 100 |  |  | $ | 112,815 |  |  |  | 100 |  |  | $ | 99,681 |  |  |  | 100 |
Total assets by reportable segment are not disclosed because such information is not used by the Company to allocate resources or evaluate performance.

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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