| Segments Internal Financial Reports |
The information in the following tables is derived directly from the segments’ internal financial reports used for corporate management purposes, which includes the significant expense categories that are regularly reviewed by the CODM.
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For the Year Ended August 31, 2026 |
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(In millions) |
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Manufacturing |
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Leasing & Fleet Management |
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Total |
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Revenue |
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Revenue from external customers |
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$ |
2,266.5 |
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$ |
194.6 |
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$ |
2,461.1 |
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Intersegment revenue |
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48.3 |
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0.2 |
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48.5 |
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2,314.8 |
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194.8 |
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2,509.6 |
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Elimination of intersegment revenues |
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(48.5 |
) |
Total consolidated revenues |
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$ |
2,461.1 |
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Cost of revenue |
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Cost of revenue from external customers |
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2,051.0 |
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76.4 |
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2,127.4 |
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Intersegment cost of revenue |
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47.8 |
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0.2 |
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48.0 |
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2,098.8 |
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76.6 |
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2,175.4 |
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Elimination of intersegment margin |
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(0.5 |
) |
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— |
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(0.5 |
) |
Margin |
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215.5 |
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118.2 |
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333.7 |
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Selling and administrative |
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91.0 |
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21.2 |
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Net loss (gain) on disposition of equipment |
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3.7 |
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(42.1 |
) |
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Segment earnings from operations |
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$ |
120.8 |
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$ |
139.1 |
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$ |
259.9 |
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For the Year Ended August 31, 2025 |
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(In millions) |
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Manufacturing |
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Leasing & Fleet Management |
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Total |
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Revenue |
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Revenue from external customers |
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$ |
3,046.9 |
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$ |
193.3 |
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$ |
3,240.2 |
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Intersegment revenue |
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98.9 |
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0.6 |
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99.5 |
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3,145.8 |
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193.9 |
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3,339.7 |
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Elimination of intersegment revenues |
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(99.5 |
) |
Total consolidated revenues |
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$ |
3,240.2 |
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Cost of revenue |
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Cost of revenue from external customers |
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2,562.4 |
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70.3 |
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2,632.7 |
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Intersegment cost of revenue |
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84.7 |
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0.6 |
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85.3 |
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2,647.1 |
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70.9 |
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2,718.0 |
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Elimination of intersegment margin |
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(14.2 |
) |
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— |
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(14.2 |
) |
Margin |
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484.5 |
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123.0 |
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|
607.5 |
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Selling and administrative |
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106.3 |
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26.0 |
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Net loss (gain) on disposition of equipment |
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0.8 |
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(16.7 |
) |
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Segment earnings from operations |
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$ |
377.4 |
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$ |
113.7 |
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$ |
491.1 |
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For the Year Ended August 31, 2024 |
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(In millions) |
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Manufacturing |
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Leasing & Fleet Management |
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Total |
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Revenue |
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Revenue from external customers |
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$ |
3,371.2 |
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$ |
173.5 |
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$ |
3,544.7 |
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Intersegment revenue |
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237.0 |
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1.0 |
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238.0 |
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3,608.2 |
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174.5 |
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3,782.7 |
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Elimination of intersegment revenues |
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(238.0 |
) |
Total consolidated revenues |
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$ |
3,544.7 |
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Cost of revenue |
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Cost of revenue from external customers |
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2,921.6 |
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64.6 |
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2,986.2 |
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Intersegment cost of revenue |
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212.1 |
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0.9 |
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213.0 |
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3,133.7 |
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65.5 |
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3,199.2 |
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Elimination of intersegment margin |
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(24.9 |
) |
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(0.1 |
) |
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(25.0 |
) |
Margin |
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449.6 |
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108.9 |
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558.5 |
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Selling and administrative |
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90.3 |
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30.7 |
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Net loss (gain) on disposition of equipment |
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0.4 |
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(13.5 |
) |
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Segment earnings from operations |
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$ |
358.9 |
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$ |
91.7 |
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$ |
450.6 |
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The following tables present selected financial information by segment.
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As of August 31, |
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(In millions) |
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2026 |
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2025 |
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Assets: |
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Manufacturing |
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$ |
2,065.3 |
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$ |
2,085.9 |
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Leasing & Fleet Management |
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2,043.7 |
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1,858.4 |
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Unallocated, including cash |
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324.7 |
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416.3 |
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$ |
4,433.7 |
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$ |
4,360.6 |
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For the Year Ended August 31, |
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(In millions) |
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2026 |
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2025 |
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2024 |
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Depreciation and amortization: |
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Manufacturing |
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$ |
85.5 |
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$ |
78.4 |
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$ |
72.1 |
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Leasing & Fleet Management |
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44.8 |
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43.1 |
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43.5 |
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$ |
130.3 |
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$ |
121.5 |
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$ |
115.6 |
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Capital expenditures: |
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Manufacturing |
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$ |
104.5 |
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$ |
139.9 |
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$ |
121.3 |
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Leasing & Fleet Management |
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174.8 |
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140.5 |
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277.0 |
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$ |
279.3 |
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$ |
280.4 |
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$ |
398.3 |
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| Summary of Selected Geographic Information |
The following tables summarize selected geographic information.
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As of August 31, |
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(In millions) |
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2026 |
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2025 |
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Assets: |
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U.S. |
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$ |
3,103.8 |
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$ |
2,994.3 |
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Mexico |
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891.3 |
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1,019.7 |
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Europe |
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438.6 |
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346.6 |
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$ |
4,433.7 |
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$ |
4,360.6 |
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For the Year Ended August 31, |
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(In millions) |
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2026 |
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2025 |
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2024 |
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Revenue 1: |
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U.S. |
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$ |
1,827.2 |
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$ |
2,431.3 |
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$ |
2,787.5 |
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Foreign |
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633.9 |
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|
808.9 |
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757.2 |
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$ |
2,461.1 |
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$ |
3,240.2 |
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$ |
3,544.7 |
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1 Revenue is presented on the basis of geographic location of customers.
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