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v3.21.2

Segment Information (Tables) | 12 Months Ended
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Aug. 31, 2021
Segment Reporting [Abstract] |
Segments Internal Financial Reports | The information in the following table is derived directly from the segments’ internal financial reports used for corporate management purposes. For the year ended August 31, 2021:
|  | Revenue |  |  | Earnings (loss) from operations |
(In thousands) |  | External |  |  | Intersegment |  |  | Total |  |  | External |  |  | Intersegment |  |  | Total |
Manufacturing |  | $ | 1,329,987 |  |  | $ | 92,424 |  |  | $ | 1,422,411 |  |  | $ | 67,124 |  |  | $ | 6,899 |  |  | $ | 74,023 |
Wheels, Repair & Parts |  |  | 298,330 |  |  |  | 9,118 |  |  |  | 307,448 |  |  |  | 6,452 |  |  |  | 103 |  |  |  | 6,555 |
Leasing & Services |  |  | 119,664 |  |  |  | 19,947 |  |  |  | 139,611 |  |  |  | 50,021 |  |  |  | 19,008 |  |  |  | 69,029 |
Eliminations |  |  | — |  |  |  | (121,489 | ) |  |  | (121,489 | ) |  |  | — |  |  |  | (26,010 | ) |  |  | (26,010 | )
Corporate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (82,627 | ) |  |  | — |  |  |  | (82,627 | )
|  | $ | 1,747,981 |  |  | $ | — |  |  | $ | 1,747,981 |  |  | $ | 40,970 |  |  | $ | — |  |  | $ | 40,970 |
For the year ended August 31, 2020:
|  | Revenue |  |  | Earnings (loss) from operations |
(In thousands) |  | External |  |  | Intersegment |  |  | Total |  |  | External |  |  | Intersegment |  |  | Total |
Manufacturing |  | $ | 2,349,971 |  |  | $ | 2,952 |  |  | $ | 2,352,923 |  |  | $ | 197,388 |  |  | $ | 54 |  |  | $ | 197,442 |
Wheels, Repair & Parts |  |  | 324,670 |  |  |  | 12,606 |  |  |  | 337,276 |  |  |  | 9,032 |  |  |  | (900 | ) |  |  | 8,132 |
Leasing & Services |  |  | 117,548 |  |  |  | 42,728 |  |  |  | 160,276 |  |  |  | 40,927 |  |  |  | 40,655 |  |  |  | 81,582 |
Eliminations |  | — |  |  |  | (58,286 | ) |  |  | (58,286 | ) |  | — |  |  |  | (39,809 | ) |  |  | (39,809 | )
Corporate |  | — |  |  |  | — |  |  |  | — |  |  |  | (78,918 | ) |  |  | — |  |  |  | (78,918 | )
|  | $ | 2,792,189 |  |  | $ | — |  |  | $ | 2,792,189 |  |  | $ | 168,429 |  |  | $ | — |  |  | $ | 168,429 |
For the year ended August 31, 2019:
|  | Revenue |  |  | Earnings (loss) from operations |
(In thousands) |  | External |  |  | Intersegment |  |  | Total |  |  | External |  |  | Intersegment |  |  | Total |
Manufacturing |  | $ | 2,431,499 |  |  | $ | 97,086 |  |  | $ | 2,528,585 |  |  | $ | 217,583 |  |  | $ | 6,370 |  |  | $ | 223,953 |
Wheels, Repair & Parts |  |  | 444,502 |  |  |  | 48,266 |  |  |  | 492,768 |  |  |  | (2,941 | ) |  |  | 902 |  |  |  | (2,039 | )
Leasing & Services |  |  | 157,590 |  |  |  | 28,240 |  |  |  | 185,830 |  |  |  | 64,763 |  |  |  | 25,527 |  |  |  | 90,290 |
Eliminations |  |  | — |  |  |  | (173,592 | ) |  |  | (173,592 | ) |  |  | — |  |  |  | (32,799 | ) |  |  | (32,799 | )
Corporate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (95,289 | ) |  |  | — |  |  |  | (95,289 | )
|  | $ | 3,033,591 |  |  | $ | — |  |  | $ | 3,033,591 |  |  | $ | 184,116 |  |  | $ | — |  |  | $ | 184,116 |
|  | Years ended August 31, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 1,493,467 |  |  | $ | 1,301,715 |  |  | $ | 1,606,571 |
Wheels, Repair & Parts |  |  | 260,904 |  |  |  | 271,862 |  |  |  | 306,725 |
Leasing & Services |  |  | 949,380 |  |  |  | 739,025 |  |  |  | 708,799 |
Unallocated, including cash |  |  | 686,917 |  |  |  | 861,232 |  |  |  | 368,542 |
|  | $ | 3,390,668 |  |  | $ | 3,173,834 |  |  | $ | 2,990,637 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 67,845 |  |  | $ | 78,010 |  |  | $ | 49,240 |
Wheels, Repair & Parts |  |  | 11,961 |  |  |  | 12,567 |  |  |  | 13,024 |
Leasing & Services |  |  | 20,911 |  |  |  | 19,273 |  |  |  | 21,467 |
|  | $ | 100,717 |  |  | $ | 109,850 |  |  | $ | 83,731 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 26,627 |  |  | $ | 48,201 |  |  | $ | 85,155 |
Wheels, Repair & Parts |  |  | 8,636 |  |  |  | 11,662 |  |  |  | 13,291 |
Leasing & Services |  |  | 103,748 |  |  |  | 7,016 |  |  |  | 99,787 |
|  | $ | 139,011 |  |  | $ | 66,879 |  |  | $ | 198,233 |
Summary of Selected Geographic Information | The following table summarizes selected geographic information.
|  | Years ended August 31, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Revenue (1): |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,221,444 |  |  | $ | 2,018,654 |  |  | $ | 2,115,934 |
Foreign |  |  | 526,537 |  |  |  | 773,535 |  |  |  | 917,657 |
|  | $ | 1,747,981 |  |  | $ | 2,792,189 |  |  | $ | 3,033,591 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,506,048 |  |  | $ | 2,359,332 |  |  | $ | 2,110,864 |
Mexico |  |  | 656,598 |  |  |  | 590,790 |  |  |  | 628,511 |
Europe |  |  | 228,022 |  |  |  | 223,712 |  |  |  | 251,262 |
|  | $ | 3,390,668 |  |  | $ | 3,173,834 |  |  | $ | 2,990,637 |
(1) | Revenue is presented on the basis of geographic location of customers.
Reconciliation of Earnings from Operations to Earnings Before Income Tax and Earnings (Loss) from Unconsolidated Affiliates | Reconciliation of Earnings from operations to Earnings (loss) before income tax and earnings (loss) from unconsolidated affiliates:
|  | Years ended August 31, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Earnings from operations |  | $ | 40,970 |  |  | $ | 168,429 |  |  | $ | 184,116 |
Interest and foreign exchange |  |  | 43,263 |  |  |  | 43,619 |  |  |  | 30,912 |
Net loss on extinguishment of debt |  |  | 6,287 |  |  |  | — |  |  |  | — |
Earnings (loss) before income tax and earnings (loss) from unconsolidated affiliates |  | $ | (8,580 | ) |  | $ | 124,810 |  |  | $ | 153,204 |

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