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CHANGES IN BUSINESS (Tables) | 9 Months Ended
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May 31, 2018
Structural Steel Fabrication Operations |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
Financial information for discontinued operations | The assets and liabilities related to these operations were included as assets and liabilities of businesses held for sale & discontinued operations in the condensed consolidated balance sheet at August 31, 2017, and consisted of the following:
(in thousands) |  | August 31, 2017*
Assets: |  |
Accounts receivable |  | $ | 38,279 |
Inventories |  | 10,676 |
Other current assets |  | 77 |
Assets of businesses held for sale & discontinued operations |  | $ | 49,032 |
Liabilities: |  |
Accounts payable-trade |  | $ | 13,108 |
Accrued expenses and other payables |  | 16,785 |
Liabilities of businesses held for sale & discontinued operations |  | $ | 29,893 |
_________________ * At August 31, 2017, $8.8 million of property, plant, and equipment, net of accumulated depreciation and amortization was included in other noncurrent assets on the consolidated balance sheets.
International Marketing and Distribution |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
Financial information for discontinued operations | The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings, which primarily relate to International Marketing and Distribution activities, are presented in the table below.
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Net sales |  | $ | 3,262 |  |  | $ | 337,903 |  |  | $ | 304,384 |  |  | $ | 847,338 |
Costs and expenses: |  |  |  |  |  |  |  |
Cost of goods sold |  | 4,233 |  |  | 312,917 |  |  | 276,371 |  |  | 784,836 |
Selling, general and administrative expenses |  | 2,418 |  |  | 15,740 |  |  | 23,078 |  |  | 42,919 |
Interest expense |  | — |  |  | (79 | ) |  | (86 | ) |  | (104 | )
Earnings (loss) before income taxes |  | (3,389 | ) |  | 9,325 |  |  | 5,021 |  |  | 19,687 |
Income taxes (benefit) |  | (1,029 | ) |  | 1,626 |  |  | 2,052 |  |  | 4,059 |
Earnings (loss) from discontinued operations |  | $ | (2,360 | ) |  | $ | 7,699 |  |  | $ | 2,969 |  |  | $ | 15,628 |
There were no material operating or investing non-cash items for discontinued operations for the nine months ended May 31, 2018 and 2017. Components of the International Marketing and Distribution segment meeting the criteria for discontinued operations have been re-classified as assets and liabilities of business held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below.
(in thousands) |  | May 31, 2018 |  | August 31, 2017*
Assets: |  |  |  |
Accounts receivable |  | $ | 6,954 |  |  | $ | 106,905 |
Inventories, net |  | — |  |  | 141,135 |
Other current assets |  | 4,111 |  |  | 38 |
Property, plant and equipment, net |  | 217 |  |  | — |
Assets of businesses held for sale & discontinued operations |  | $ | 11,282 |  |  | $ | 248,078 |
Liabilities: |  |  |  |
Accounts payable-trade |  | $ | — |  |  | $ | 42,563 |
Accrued expenses and other payables |  | 2,843 |  |  | 15,372 |
Liabilities of businesses held for sale & discontinued operations |  | $ | 2,843 |  |  | $ | 57,935 |
_________________ * Property, plant, and equipment, net of accumulated depreciation and amortization of $0.8 million at August 31, 2017 was included in other noncurrent assets on the unaudited condensed consolidated balance sheets.

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