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BUSINESS SEGMENTS (Tables) | 12 Months Ended
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Aug. 31, 2018
Segment Reporting [Abstract] |
Summary of certain financial information from continuing operations by reportable segment | The following table summarizes certain financial information from continuing operations by reportable segment:
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other |  | Eliminations |  | Continuing Operations
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 1,117,714 |  |  | $ | 1,204,181 |  |  | $ | 1,416,572 |  |  | $ | 885,919 |  |  | $ | 19,337 |  |  | $ | — |  |  | $ | 4,643,723 |
Intersegment sales |  | 247,715 |  |  | 792,722 |  |  | 11,310 |  |  | 1,119 |  |  | — |  |  | (1,052,866 | ) |  | — |
Net sales |  | 1,365,429 |  |  | 1,996,903 |  |  | 1,427,882 |  |  | 887,038 |  |  | 19,337 |  |  | (1,052,866 | ) |  | 4,643,723 |
Adjusted EBITDA |  | 68,694 |  |  | 301,805 |  |  | (39,394 | ) |  | 131,720 |  |  | (110,604 | ) |  | — |  |  | 352,221 |
Interest expense* |  | 3,605 |  |  | 5,317 |  |  | 14,295 |  |  | 2,699 |  |  | 15,041 |  |  | — |  |  | 40,957 |
Capital expenditures** |  | 8,592 |  |  | 121,029 |  |  | 14,386 |  |  | 23,552 |  |  | 3,808 |  |  | — |  |  | 171,367 |
Depreciation and amortization |  | 17,246 |  |  | 61,512 |  |  | 13,537 |  |  | 27,255 |  |  | 11,958 |  |  | — |  |  | 131,508 |
Impairment of assets |  | 180 |  |  | 8 |  |  | 14,157 |  |  | 27 |  |  | — |  |  | — |  |  | 14,372 |
Total assets*** |  | 291,838 |  |  | 1,115,339 |  |  | 739,151 |  |  | 485,548 |  |  | 1,173,869 |  |  | (477,441 | ) |  | 3,328,304 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 865,462 |  |  | $ | 917,689 |  |  | $ | 1,364,826 |  |  | $ | 636,402 |  |  | $ | 59,690 |  |  | $ | — |  |  | $ | 3,844,069 |
Intersegment sales |  | 146,038 |  |  | 647,765 |  |  | 11,102 |  |  | 871 |  |  | 1,311 |  |  | (807,087 | ) |  | — |
Net sales |  | 1,011,500 |  |  | 1,565,454 |  |  | 1,375,928 |  |  | 637,273 |  |  | 61,001 |  |  | (807,087 | ) |  | 3,844,069 |
Adjusted EBITDA |  | 33,541 |  |  | 224,183 |  |  | 27,259 |  |  | 76,068 |  |  | (125,229 | ) |  | — |  |  | 235,822 |
Interest expense* |  | 2,979 |  |  | (3,394 | ) |  | 9,899 |  |  | 3,079 |  |  | 31,588 |  |  | — |  |  | 44,151 |
Capital expenditures** |  | 7,148 |  |  | 172,738 |  |  | 15,495 |  |  | 12,603 |  |  | 5,090 |  |  | — |  |  | 213,074 |
Depreciation and amortization |  | 15,501 |  |  | 49,419 |  |  | 13,400 |  |  | 25,830 |  |  | 20,340 |  |  | — |  |  | 124,490 |
Impairment of assets |  | 559 |  |  | — |  |  | — |  |  | 150 |  |  | 1,021 |  |  | — |  |  | 1,730 |
Total assets*** |  | 240,371 |  |  | 933,022 |  |  | 683,609 |  |  | 464,428 |  |  | 981,584 |  |  | (327,883 | ) |  | 2,975,131 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales-unaffiliated customers |  | $ | 594,316 |  |  | $ | 839,432 |  |  | $ | 1,479,125 |  |  | $ | 520,288 |  |  | $ | 162,907 |  |  | $ | — |  |  | $ | 3,596,068 |
Intersegment sales |  | 111,479 |  |  | 659,416 |  |  | 10,330 |  |  | 543 |  |  | 78,224 |  |  | (859,992 | ) |  | — |
Net sales |  | 705,795 |  |  | 1,498,848 |  |  | 1,489,455 |  |  | 520,831 |  |  | 241,131 |  |  | (859,992 | ) |  | 3,596,068 |
Adjusted EBITDA |  | (2,975 | ) |  | 262,192 |  |  | 90,467 |  |  | 57,553 |  |  | (102,000 | ) |  | — |  |  | 305,237 |
Interest expense* |  | 2,210 |  |  | 1,942 |  |  | 8,356 |  |  | 2,705 |  |  | 47,760 |  |  | — |  |  | 62,973 |
Capital expenditures** |  | 4,891 |  |  | 110,375 |  |  | 14,958 |  |  | 27,155 |  |  | 5,681 |  |  | — |  |  | 163,060 |
Depreciation and amortization |  | 17,923 |  |  | 47,924 |  |  | 13,620 |  |  | 25,911 |  |  | 20,881 |  |  | — |  |  | 126,259 |
Impairment of assets |  | 38,900 |  |  | — |  |  | — |  |  | 208 |  |  | 920 |  |  | — |  |  | 40,028 |
Total assets*** |  | 195,532 |  |  | 798,481 |  |  | 659,165 |  |  | 378,248 |  |  | 1,526,642 |  |  | (427,199 | ) |  | 3,130,869 |
________________________ * Includes intercompany interest expense (income) in the segments, which is eliminated within Corporate and Other. ** Excludes immaterial capital expenditures from discontinued operations for the years ended August 31, 2018, 2017 and 2016. *** Total assets listed in Corporate and Other includes assets from discontinued operations.
Reconciliations of earnings from continuing operations to adjusted operating profit | The following table presents a reconciliation of earnings from continuing operations to adjusted EBITDA from continuing operations:
|  | Year Ended August 31,
(in thousands) |  | 2018 |  | 2017 |  | 2016
Earnings from continuing operations |  | $ | 135,237 |  |  | $ | 50,175 |  |  | $ | 62,001 |
Interest expense |  | 40,957 |  |  | 44,151 |  |  | 62,973 |
Income taxes |  | 30,147 |  |  | 15,276 |  |  | 13,976 |
Depreciation and amortization |  | 131,508 |  |  | 124,490 |  |  | 126,259 |
Impairment of assets |  | 14,372 |  |  | 1,730 |  |  | 40,028 |
Adjusted EBITDA from continuing operations |  | $ | 352,221 |  |  | $ | 235,822 |  |  | $ | 305,237 |
External net sales from continuing operations by major product |
|  | Year Ended August 31,
(in thousands) |  | 2018 |  | 2017 |  | 2016
Major product information: |  |  |  |  |  |
Steel products |  | $ | 3,114,227 |  |  | $ | 2,584,359 |  |  | $ | 2,620,452 |
Nonferrous scrap |  | 630,609 |  |  | 506,220 |  |  | 364,690 |
Ferrous scrap |  | 550,602 |  |  | 413,441 |  |  | 266,326 |
Construction materials |  | 249,538 |  |  | 228,910 |  |  | 234,513 |
Other |  | 98,747 |  |  | 111,139 |  |  | 110,087 |
Net sales |  | $ | 4,643,723 |  |  | $ | 3,844,069 |  |  | $ | 3,596,068 |
External net sales from continuing operations by geographic area |
|  | Year Ended August 31,
(in thousands) |  | 2018 |  | 2017 |  | 2016
Geographic area: |  |  |  |  |  |
United States |  | $ | 3,460,018 |  |  | $ | 2,984,934 |  |  | $ | 2,771,418 |
Europe |  | 892,452 |  |  | 666,396 |  |  | 657,758 |
Asia |  | 215,110 |  |  | 161,126 |  |  | 139,368 |
Other |  | 76,143 |  |  | 31,613 |  |  | 27,524 |
Net sales |  | $ | 4,643,723 |  |  | $ | 3,844,069 |  |  | $ | 3,596,068 |
Long-lived assets by geographic area | The following table presents long-lived assets, net of accumulated depreciation and amortization, by geographic area:
|  | August 31,
(in thousands) |  | 2018 |  | 2017 |  | 2016
United States |  | $ | 1,001,102 |  |  | $ | 971,881 |  |  | $ | 803,015 |
Europe and other |  | 171,505 |  |  | 187,995 |  |  | 184,404 |
Total long-lived assets |  | $ | 1,172,607 |  |  | $ | 1,159,876 |  |  | $ | 987,419 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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