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BUSINESS SEGMENTS (Tables) | 9 Months Ended
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May 31, 2018
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:
|  | Three Months Ended May 31, 2018
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other |  | Eliminations |  | Continuing Operations
Net sales-unaffiliated customers |  | $ | 292,679 |  |  | $ | 332,459 |  |  | $ | 375,183 |  |  | $ | 201,438 |  |  | $ | 2,725 |  |  | $ | — |  |  | $ | 1,204,484 |
Intersegment sales |  | 71,419 |  |  | 220,604 |  |  | 3,058 |  |  | 299 |  |  | — |  |  | (295,380 | ) |  | — |
Net sales |  | 364,098 |  |  | 553,063 |  |  | 378,241 |  |  | 201,737 |  |  | 2,725 |  |  | (295,380 | ) |  | 1,204,484 |
Adjusted operating profit (loss) from continuing operations |  | 14,350 |  |  | 70,404 |  |  | (16,096 | ) |  | 24,370 |  |  | (22,678 | ) |  | (2,941 | ) |  | 67,409 |
|  | Nine Months Ended May 31, 2018
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other |  | Eliminations |  | Continuing Operations
Net sales-unaffiliated customers |  | $ | 832,448 |  |  | $ | 841,895 |  |  | $ | 1,015,934 |  |  | $ | 633,134 |  |  | $ | 11,874 |  |  | $ | — |  |  | $ | 3,335,285 |
Intersegment sales |  | 171,618 |  |  | 550,573 |  |  | 8,059 |  |  | 846 |  |  | — |  |  | (731,096 | ) |  | — |
Net sales |  | 1,004,066 |  |  | 1,392,468 |  |  | 1,023,993 |  |  | 633,980 |  |  | 11,874 |  |  | (731,096 | ) |  | 3,335,285 |
Adjusted operating profit (loss) from continuing operations |  | 36,580 |  |  | 142,639 |  |  | (47,995 | ) |  | 72,297 |  |  | (65,648 | ) |  | (4,413 | ) |  | 133,460 |
Total assets as of May 31, 2018* |  | 310,513 |  |  | 1,078,308 |  |  | 684,929 |  |  | 476,946 |  |  | 1,128,360 |  |  | (467,603 | ) |  | 3,211,453 |
|  | Three Months Ended May 31, 2017
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other |  | Eliminations |  | Continuing Operations
Net sales-unaffiliated customers |  | $ | 247,896 |  |  | $ | 243,934 |  |  | $ | 377,188 |  |  | $ | 167,409 |  |  | $ | 8,286 |  |  | $ | — |  |  | $ | 1,044,713 |
Intersegment sales |  | 46,270 |  |  | 183,342 |  |  | 2,788 |  |  | 230 |  |  | 3 |  |  | (232,633 | ) |  | — |
Net sales |  | 294,166 |  |  | 427,276 |  |  | 379,976 |  |  | 167,639 |  |  | 8,289 |  |  | (232,633 | ) |  | 1,044,713 |
Adjusted operating profit (loss) from continuing operations |  | 9,247 |  |  | 50,734 |  |  | 1,808 |  |  | 12,971 |  |  | (20,281 | ) |  | 772 |  |  | 55,251 |
|  | Nine Months Ended May 31, 2017
(in thousands) |  | Americas Recycling |  | Americas Mills |  | Americas Fabrication |  | International Mill |  | Corporate and Other |  | Eliminations |  | Continuing Operations
Net sales-unaffiliated customers |  | $ | 590,760 |  |  | $ | 667,872 |  |  | $ | 1,013,847 |  |  | $ | 436,413 |  |  | $ | 51,047 |  |  | $ | — |  |  | $ | 2,759,939 |
Intersegment sales |  | 103,442 |  |  | 483,162 |  |  | 8,355 |  |  | 621 |  |  | 643 |  |  | (596,223 | ) |  | — |
Net sales |  | 694,202 |  |  | 1,151,034 |  |  | 1,022,202 |  |  | 437,034 |  |  | 51,690 |  |  | (596,223 | ) |  | 2,759,939 |
Adjusted operating profit (loss) from continuing operations |  | 11,981 |  |  | 139,002 |  |  | 9,025 |  |  | 32,517 |  |  | (72,176 | ) |  | (22 | ) |  | 120,327 |
Total assets as of August 31, 2017* |  | 240,371 |  |  | 933,022 |  |  | 683,609 |  |  | 464,428 |  |  | 687,984 |  |  | (327,883 | ) |  | 2,681,531 |
_________________ * Excludes total assets from discontinued operations of $34.0 million at May 31, 2018 and $293.6 million at August 31, 2017.
Reconciliations of earnings from continuing operations to adjusted operating profit | Reconciliations of earnings from continuing operations to adjusted operating profit from continuing operations are provided below:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Earnings from continuing operations |  | $ | 42,325 |  |  | $ | 31,567 |  |  | $ | 83,977 |  |  | $ | 60,245 |
Income taxes |  | 13,312 |  |  | 11,006 |  |  | 23,465 |  |  | 21,231 |
Interest expense |  | 11,511 |  |  | 12,448 |  |  | 25,303 |  |  | 38,212 |
Discounts on sales of accounts receivable |  | 261 |  |  | 230 |  |  | 715 |  |  | 639 |
Adjusted operating profit from continuing operations |  | $ | 67,409 |  |  | $ | 55,251 |  |  | $ | 133,460 |  |  | $ | 120,327 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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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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