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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.

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