XML 62 R29.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information
 12 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 18 — Segment Information

The Company operates in three reportable segments: Manufacturing; Maintenance Services; and Leasing & Management Services.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Performance is evaluated based on Earnings from operations. Corporate includes selling and administrative costs not directly related to goods and services and certain costs that are intertwined among segments due to our integrated business model. The Company does not allocate Interest and foreign exchange or Income tax benefit (expense) for either external or internal reporting purposes. Intersegment sales and transfers are valued as if the sales or transfers were to third parties. Related revenue and margin are eliminated in consolidation and therefore are not included in consolidated results in the Company’s Consolidated Financial Statements.

The information in the following tables is derived directly from the segments’ internal financial reports used for corporate management purposes.

For the year ended August 31, 2024:

 

 

Revenue

 

 

Earnings (loss) from operations

 

(In millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

3,013.6

 

 

$

228.8

 

 

$

3,242.4

 

 

$

281.6

 

 

$

24.9

 

 

$

306.5

 

Maintenance Services

 

 

298.8

 

 

 

49.7

 

 

 

348.5

 

 

 

27.1

 

 

 

—

 

 

 

27.1

 

Leasing & Management Services

 

 

232.3

 

 

 

1.0

 

 

 

233.3

 

 

 

139.0

 

 

 

0.1

 

 

 

139.1

 

Eliminations

 

 

—

 

 

 

(279.5

)

 

 

(279.5

)

 

 

—

 

 

 

(25.0

)

 

 

(25.0

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(123.2

)

 

 

—

 

 

 

(123.2

)

 

 

$

3,544.7

 

 

$

—

 

 

$

3,544.7

 

 

$

324.5

 

 

$

—

 

 

$

324.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended August 31, 2023:

 

 

 

Revenue

 

 

Earnings (loss) from operations

 

(In millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

3,357.7

 

 

$

307.1

 

 

$

3,664.8

 

 

$

140.9

 

 

$

28.7

 

 

$

169.6

 

Maintenance Services

 

 

406.4

 

 

 

36.0

 

 

 

442.4

 

 

 

36.9

 

 

 

—

 

 

 

36.9

 

Leasing & Management Services

 

 

179.9

 

 

 

1.2

 

 

 

181.1

 

 

 

103.3

 

 

 

0.3

 

 

 

103.6

 

Eliminations

 

 

—

 

 

 

(344.3

)

 

 

(344.3

)

 

 

—

 

 

 

(29.0

)

 

 

(29.0

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(104.7

)

 

 

—

 

 

 

(104.7

)

 

 

$

3,944.0

 

 

$

—

 

 

$

3,944.0

 

 

$

176.4

 

 

$

—

 

 

$

176.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended August 31, 2022:

 

 

 

Revenue

 

 

Earnings (loss) from operations

 

(In millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

2,476.6

 

 

$

191.6

 

 

$

2,668.2

 

 

$

97.2

 

 

$

11.9

 

 

$

109.1

 

Maintenance Services

 

 

347.7

 

 

 

26.4

 

 

 

374.1

 

 

 

21.7

 

 

 

—

 

 

 

21.7

 

Leasing & Management Services

 

 

153.4

 

 

 

1.9

 

 

 

155.3

 

 

 

108.3

 

 

 

0.1

 

 

 

108.4

 

Eliminations

 

 

—

 

 

 

(219.9

)

 

 

(219.9

)

 

 

—

 

 

 

(12.0

)

 

 

(12.0

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(109.2

)

 

 

—

 

 

 

(109.2

)

 

 

$

2,977.7

 

 

$

—

 

 

$

2,977.7

 

 

$

118.0

 

 

$

—

 

 

$

118.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended August 31,

 

(In millions)

 

2024

 

 

2023

 

 

2022

 

Assets:

 

 

 

 

 

 

 

 

 

Manufacturing

 

$

1,881.2

 

 

$

1,847.0

 

 

$

1,853.9

 

Maintenance Services

 

 

291.2

 

 

 

294.4

 

 

 

284.8

 

Leasing & Management Services

 

 

1,633.6

 

 

 

1,458.1

 

 

 

1,152.2

 

Unallocated, including cash

 

 

448.5

 

 

 

378.9

 

 

 

560.6

 

 

$

4,254.5

 

 

$

3,978.4

 

 

$

3,851.5

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

Manufacturing

 

$

61.5

 

 

$

60.3

 

 

$

61.7

 

Maintenance Services

 

 

10.6

 

 

 

10.5

 

 

 

10.7

 

Leasing & Management Services

 

 

43.5

 

 

 

35.5

 

 

 

29.6

 

 

$

115.6

 

 

$

106.3

 

 

$

102.0

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Manufacturing

 

$

102.8

 

 

$

71.9

 

 

$

48.3

 

Maintenance Services

 

 

18.5

 

 

 

17.3

 

 

 

9.2

 

Leasing & Management Services

 

 

277.0

 

 

 

272.9

 

 

 

323.2

 

 

$

398.3

 

 

$

362.1

 

 

$

380.7

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes selected geographic information.

 

 

 

Year Ended August 31,

 

(In millions)

 

2024

 

 

2023

 

 

2022

 

Revenue 1:

 

 

 

 

 

 

 

 

 

U.S.

 

$

2,787.5

 

 

$

3,235.3

 

 

$

2,452.1

 

Foreign

 

 

757.2

 

 

 

708.7

 

 

 

525.6

 

 

$

3,544.7

 

 

$

3,944.0

 

 

$

2,977.7

 

Assets:

 

 

 

 

 

 

 

 

 

U.S.

 

$

2,775.4

 

 

$

2,593.4

 

 

$

2,689.6

 

Mexico

 

 

1,145.3

 

 

 

1,084.3

 

 

 

948.4

 

Europe

 

 

333.8

 

 

 

300.7

 

 

 

213.5

 

 

$

4,254.5

 

 

$

3,978.4

 

 

$

3,851.5

 

 

 

 

 

 

 

 

 

 

 

1 Revenue is presented on the basis of geographic location of customers.

 

Reconciliation of Earnings from operations to Earnings before income tax and earnings from unconsolidated affiliates:

 

 

Year Ended August 31,

 

(In millions)

 

2024

 

 

2023

 

 

2022

 

Earnings from operations

 

$

324.5

 

 

$

176.4

 

 

$

118.0

 

Interest and foreign exchange

 

 

100.8

 

 

 

85.4

 

 

 

57.4

 

Earnings before income tax and earnings from unconsolidated affiliates

 

$

223.7

 

 

$

91.0

 

 

$

60.6