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Segment Information
 6 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Segment Information

Note 12 – Segment Information

The Company operates in two reportable segments: Manufacturing and Leasing & Fleet Management. See Note 1 - Interim Financial Statements to the Condensed Consolidated Financial Statements for additional information on the change in the Company’s reportable segments effective September 1, 2024. Prior period segment results have been recast to reflect the Company’s new reportable segments.

Performance is evaluated based on Earnings (loss) 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 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 Condensed 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 three months ended February 28, 2025:

 

 

Revenue

 

 

Earnings (loss) from operations

 

(in millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

700.3

 

 

$

53.1

 

 

$

753.4

 

 

$

69.0

 

 

$

9.7

 

 

$

78.7

 

Leasing & Fleet Management

 

 

61.8

 

 

 

0.2

 

 

 

62.0

 

 

 

45.6

 

 

 

—

 

 

 

45.6

 

Eliminations

 

 

—

 

 

 

(53.3

)

 

 

(53.3

)

 

 

—

 

 

 

(9.7

)

 

 

(9.7

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(31.0

)

 

 

—

 

 

 

(31.0

)

 

 

$

762.1

 

 

$

—

 

 

$

762.1

 

 

$

83.6

 

 

$

—

 

 

$

83.6

 

 

For the six months ended February 28, 2025:

 

 

Revenue

 

 

Earnings (loss) from operations

 

(in millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

1,520.7

 

 

$

55.9

 

 

$

1,576.6

 

 

$

185.1

 

 

$

9.7

 

 

$

194.8

 

Leasing & Fleet Management

 

 

117.3

 

 

 

0.4

 

 

 

117.7

 

 

 

72.3

 

 

 

—

 

 

 

72.3

 

Eliminations

 

 

—

 

 

 

(56.3

)

 

 

(56.3

)

 

 

—

 

 

 

(9.7

)

 

 

(9.7

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(62.0

)

 

 

—

 

 

 

(62.0

)

 

 

$

1,638.0

 

 

$

—

 

 

$

1,638.0

 

 

$

195.4

 

 

$

—

 

 

$

195.4

 

For the three months ended February 29, 2024:

 

 

Revenue

 

 

Earnings (loss) from operations

 

(in millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

811.0

 

 

$

63.1

 

 

$

874.1

 

 

$

63.4

 

 

$

3.7

 

 

$

67.1

 

Leasing & Fleet Management

 

 

51.7

 

 

 

0.3

 

 

 

52.0

 

 

 

33.2

 

 

 

0.1

 

 

 

33.3

 

Eliminations

 

 

—

 

 

 

(63.4

)

 

 

(63.4

)

 

 

—

 

 

 

(3.8

)

 

 

(3.8

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(33.1

)

 

 

—

 

 

 

(33.1

)

 

 

$

862.7

 

 

$

—

 

 

$

862.7

 

 

$

63.5

 

 

$

—

 

 

$

63.5

 

 

For the six months ended February 29, 2024:

 

 

Revenue

 

 

Earnings (loss) from operations

 

(in millions)

 

External

 

 

Intersegment

 

 

Total

 

 

External

 

 

Intersegment

 

 

Total

 

Manufacturing

 

$

1,570.7

 

 

$

121.8

 

 

$

1,692.5

 

 

$

128.3

 

 

$

8.4

 

 

$

136.7

 

Leasing & Fleet Management

 

 

100.8

 

 

 

0.5

 

 

 

101.3

 

 

 

59.5

 

 

 

0.1

 

 

 

59.6

 

Eliminations

 

 

—

 

 

 

(122.3

)

 

 

(122.3

)

 

 

—

 

 

 

(8.5

)

 

 

(8.5

)

Corporate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(59.4

)

 

 

—

 

 

 

(59.4

)

 

 

$

1,671.5

 

 

$

—

 

 

$

1,671.5

 

 

$

128.4

 

 

$

—

 

 

$

128.4

 

 

 

 

Total assets

 

(in millions)

 

February 28,
2025

 

 

August 31,
2024

 

Manufacturing

 

$

2,042.0

 

 

$

2,172.4

 

Leasing & Fleet Management

 

 

1,854.9

 

 

 

1,633.6

 

Unallocated, including cash

 

 

370.1

 

 

 

448.5

 

 

$

4,267.0

 

 

$

4,254.5

 

 

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

 

 

Three months ended

 

 

Six months ended

 

(in millions)

 

February 28,
2025

 

 

February 29,
2024

 

 

February 28,
2025

 

 

February 29,
2024

 

Earnings from operations

 

$

83.6

 

 

$

63.5

 

 

$

195.4

 

 

$

128.4

 

Interest and foreign exchange

 

 

21.7

 

 

 

24.6

 

 

 

45.1

 

 

 

47.8

 

Earnings before income tax and earnings from unconsolidated affiliates

 

$

61.9

 

 

$

38.9

 

 

$

150.3

 

 

$

80.6