XML 19 R48.htm IDEA: XBRL DOCUMENT
v3.3.0.814

BUSINESS SEGMENTS (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2015
Segment Reporting [Abstract] |
Summary of certain financial information from continuing operations by reportable segment | The following is a summary of certain financial information from continuing operations by reportable segment:
|  | Americas |  | International |  |  |  |  |  |
(in thousands) |  | Recycling |  | Mills |  | Fabrication |  | Mill |  | Marketing and Distribution |  | Corporate |  | Eliminations |  | Continuing Operations
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 887,068 |  |  | $ | 1,048,063 |  |  | $ | 1,612,084 |  |  | $ | 626,219 |  |  | $ | 1,814,319 |  |  | $ | 852 |  |  | $ | — |  |  | $ | 5,988,605 |
Intersegment sales |  | 135,553 |  |  | 793,749 |  |  | 12,154 |  |  | 32 |  |  | 83,298 |  |  | — |  |  | (1,024,786 | ) |  | — |
Net sales |  | 1,022,621 |  |  | 1,841,812 |  |  | 1,624,238 |  |  | 626,251 |  |  | 1,897,617 |  |  | 852 |  |  | (1,024,786 | ) |  | 5,988,605 |
Adjusted operating profit (loss) |  | (18,637 | ) |  | 304,272 |  |  | 39,183 |  |  | 17,555 |  |  | 57,885 |  |  | (77,832 | ) |  | 1,409 |  |  | 323,835 |
Interest expense* |  | 2,628 |  |  | 4,207 |  |  | 8,864 |  |  | 2,620 |  |  | 9,096 |  |  | 50,345 |  |  | — |  |  | 77,760 |
Capital expenditures** |  | 12,811 |  |  | 67,203 |  |  | 14,883 |  |  | 15,413 |  |  | 296 |  |  | 5,194 |  |  | — |  |  | 115,800 |
Depreciation and amortization*** |  | 24,954 |  |  | 46,780 |  |  | 19,094 |  |  | 28,211 |  |  | 2,551 |  |  | 20,752 |  |  | — |  |  | 142,342 |
Total assets**** |  | 251,793 |  |  | 672,322 |  |  | 687,884 |  |  | 403,706 |  |  | 802,007 |  |  | 1,075,642 |  |  | (552,577 | ) |  | 3,340,777 |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 1,176,907 |  |  | $ | 1,198,249 |  |  | $ | 1,523,573 |  |  | $ | 822,224 |  |  | $ | 2,055,202 |  |  | $ | 14,283 |  |  | $ | — |  |  | $ | 6,790,438 |
Intersegment sales |  | 190,163 |  |  | 793,085 |  |  | 13,912 |  |  | 969 |  |  | 65,335 |  |  | — |  |  | (1,063,464 | ) |  | — |
Net sales |  | 1,367,070 |  |  | 1,991,334 |  |  | 1,537,485 |  |  | 823,193 |  |  | 2,120,537 |  |  | 14,283 |  |  | (1,063,464 | ) |  | 6,790,438 |
Adjusted operating profit (loss) |  | (3,222 | ) |  | 247,703 |  |  | 6,196 |  |  | 30,632 |  |  | 24,027 |  |  | (72,347 | ) |  | (302 | ) |  | 232,687 |
Interest expense* |  | 2,700 |  |  | 7,059 |  |  | 10,222 |  |  | 4,608 |  |  | 6,924 |  |  | 45,524 |  |  | — |  |  | 77,037 |
Capital expenditures** |  | 16,771 |  |  | 31,781 |  |  | 13,798 |  |  | 30,770 |  |  | 1,122 |  |  | 6,907 |  |  | — |  |  | 101,149 |
Depreciation and amortization*** |  | 16,424 |  |  | 45,392 |  |  | 19,192 |  |  | 32,776 |  |  | 2,500 |  |  | 21,243 |  |  | — |  |  | 137,527 |
Total assets**** |  | 296,564 |  |  | 647,437 |  |  | 691,765 |  |  | 466,449 |  |  | 803,263 |  |  | 1,100,995 |  |  | (469,093 | ) |  | 3,537,380 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 1,225,604 |  |  | $ | 1,060,337 |  |  | $ | 1,427,785 |  |  | $ | 819,889 |  |  | $ | 2,055,623 |  |  | $ | 11,832 |  |  | $ | — |  |  | $ | 6,601,070 |
Intersegment sales |  | 166,145 |  |  | 759,183 |  |  | 14,906 |  |  | 6,155 |  |  | 38,554 |  |  | — |  |  | (984,943 | ) |  | — |
Net sales |  | 1,391,749 |  |  | 1,819,520 |  |  | 1,442,691 |  |  | 826,044 |  |  | 2,094,177 |  |  | 11,832 |  |  | (984,943 | ) |  | 6,601,070 |
Adjusted operating profit (loss) |  | 3,170 |  |  | 204,333 |  |  | 28,033 |  |  | 890 |  |  | 63,327 |  |  | (66,453 | ) |  | 848 |  |  | 234,148 |
Interest expense* |  | 9 |  |  | (101 | ) |  | 83 |  |  | 992 |  |  | 3,200 |  |  | 64,256 |  |  | — |  |  | 68,439 |
Capital expenditures** |  | 21,261 |  |  | 37,216 |  |  | 5,605 |  |  | 15,155 |  |  | 864 |  |  | 7,552 |  |  | — |  |  | 87,653 |
Depreciation and amortization*** |  | 13,453 |  |  | 42,925 |  |  | 22,302 |  |  | 33,238 |  |  | 2,387 |  |  | 21,096 |  |  | — |  |  | 135,401 |
Total assets**** |  | 309,599 |  |  | 598,478 |  |  | 631,510 |  |  | 487,613 |  |  | 724,963 |  |  | 1,075,594 |  |  | (496,058 | ) |  | 3,331,699 |
________________________ * Includes intercompany interest expense (income) in the segments and is all eliminated within Corporate. ** Excludes capital expenditures from discontinued operations that were immaterial for the year ended August 31, 2015, 2014 and 2013. *** Includes asset impairment charges. **** Excludes total assets from discontinued operations of $31.5 million at August 31, 2015, $151.1 million at August 31, 2014 and $163.1 million at August 31, 2013.
Reconciliations of earnings from continuing operations to adjusted operating profit | Reconciliations of earnings from continuing operations to adjusted operating profit are provided below:
|  | Year Ended August 31,
(in thousands) |  | 2015 |  | 2014 |  | 2013
Earnings from continuing operations |  | $ | 161,322 |  |  | $ | 109,091 |  |  | $ | 104,723 |
Income taxes |  | 83,206 |  |  | 42,724 |  |  | 57,979 |
Interest expense |  | 77,760 |  |  | 77,037 |  |  | 68,439 |
Discounts on sales of accounts receivable |  | 1,547 |  |  | 3,835 |  |  | 3,007 |
Adjusted operating profit from continuing operations |  | $ | 323,835 |  |  | $ | 232,687 |  |  | $ | 234,148 |
External net sales from continuing operations by major product |
|  | Year Ended August 31,
(in thousands) |  | 2015 |  | 2014 |  | 2013
Major product information: |  |  |  |  |  |
Steel products |  | $ | 4,084,092 |  |  | $ | 4,500,093 |  |  | $ | 4,033,286 |
Industrial materials |  | 566,323 |  |  | 659,251 |  |  | 928,472 |
Nonferrous scrap |  | 536,856 |  |  | 639,961 |  |  | 682,611 |
Ferrous scrap |  | 428,192 |  |  | 659,578 |  |  | 646,263 |
Construction materials |  | 220,232 |  |  | 199,154 |  |  | 189,046 |
Nonferrous products |  | 10,443 |  |  | 8,761 |  |  | 5,674 |
Other |  | 142,467 |  |  | 123,640 |  |  | 115,718 |
Net sales |  | $ | 5,988,605 |  |  | $ | 6,790,438 |  |  | $ | 6,601,070 |
External net sales from continuing operations by geographic area |
|  | Year Ended August 31,
(in thousands) |  | 2015 |  | 2014 |  | 2013
Geographic area: |  |  |  |  |  |
United States |  | $ | 4,199,789 |  |  | $ | 4,510,080 |  |  | $ | 4,107,231 |
Europe |  | 1,006,204 |  |  | 1,215,150 |  |  | 1,108,196 |
Asia |  | 578,755 |  |  | 786,512 |  |  | 1,094,458 |
Australia/New Zealand |  | 121,403 |  |  | 175,756 |  |  | 199,603 |
Other |  | 82,454 |  |  | 102,940 |  |  | 91,582 |
Net sales |  | $ | 5,988,605 |  |  | $ | 6,790,438 |  |  | $ | 6,601,070 |
Long-lived assets by geographic area | The following table represents long-lived assets by geographic area:
|  | August 31,
(in thousands) |  | 2015 |  | 2014 |  | 2013
United States |  | $ | 866,421 |  |  | $ | 871,326 |  |  | $ | 868,643 |
Europe |  | 189,796 |  |  | 243,280 |  |  | 239,899 |
Asia |  | 7,692 |  |  | 8,814 |  |  | 7,618 |
Australia/New Zealand |  | 1,292 |  |  | 11,309 |  |  | 12,446 |
Total long-lived assets |  | $ | 1,065,201 |  |  | $ | 1,134,729 |  |  | $ | 1,128,606 |

X
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph b -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration