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BUSINESS SEGMENTS (Tables)

12 Months Ended

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

X

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