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SEGMENT INFORMATION
 12 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 19. SEGMENT INFORMATION

The Company's operating segments engage in business activities from which they may earn revenues and incur expenses and for which discrete financial information is available. Operating results for the operating segments are regularly reviewed by the Company's Chief Operating Decision Maker ("CODM"), the President and Chief Executive Officer, to manage the business, make decisions about resources to be allocated to the segments and to assess performance.

The Company structures its business into the following three reportable segments: North America Steel Group, Europe Steel Group and Emerging Businesses Group. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, for more information about the reportable segments, including the types of products and services from which each reportable segment derives its net sales. Corporate and Other contains earnings or losses on assets and liabilities related to the Company's BRP assets and short-term investments, expenses of the Company's corporate headquarters, interest expense related to long-term debt, other revenue resulting from the Company's NMTC transactions and intercompany eliminations. Certain corporate administrative expenses are allocated to the segments based upon the nature of the expense.

The CODM uses adjusted EBITDA to evaluate segment performance and allocate resources. Adjusted EBITDA is the sum of the Company's earnings before interest expense, income taxes, depreciation and amortization expense and impairment expense.
The following table summarizes certain financial information by reportable segment and Corporate and Other. Interest expense includes intercompany interest expense in the segments, which is eliminated within Corporate and Other.
Year Ended August 31,
(in thousands)202420232022
Net sales to external customers:
North America Steel Group$6,309,730 $6,704,305 $6,798,405 
Europe Steel Group848,566 1,328,791 1,592,292 
Emerging Businesses Group717,397 721,746 525,516 
Reportable segments total$7,875,693 $8,754,842 $8,916,213 
Corporate and Other50,279 44,691 (2,732)
Total$7,925,972 $8,799,533 $8,913,481 
Adjusted EBITDA:
North America Steel Group$946,350 $1,328,431 $1,482,667 
Europe Steel Group22,517 48,473 344,659 
Emerging Businesses Group129,530 138,985 72,583 
Reportable segments total$1,098,397 $1,515,889 $1,899,909 
Interest expense:
North America Steel Group$184,019 $117,502 $27,310 
Europe Steel Group(5,074)(1,165)2,749 
Emerging Businesses Group2,480 2,291 558 
Reportable segments total$181,425 $118,628 $30,617 
Corporate and Other(133,532)(78,501)20,092 
Total$47,893 $40,127 $50,709 
Depreciation and amortization:
North America Steel Group$192,697 $136,391 $120,026 
Europe Steel Group34,077 32,607 28,755 
Emerging Businesses Group43,945 40,725 17,791 
Reportable segments total$270,719 $209,723 $166,572 
Corporate and Other9,648 9,107 8,452 
Total$280,367 $218,830 $175,024 
Asset impairments:
North America Steel Group$6,558 $3,733 $4,915 
Europe Steel Group150 47 11 
Emerging Businesses Group— — — 
Reportable segments total$6,708 $3,780 $4,926 
Corporate and Other— — — 
Total$6,708 $3,780 $4,926 
Capital expenditures:
North America Steel Group$250,599 $535,927 $411,101 
Europe Steel Group44,726 37,600 25,722 
Emerging Businesses Group20,479 19,986 6,116 
Reportable segments total$315,804 $593,513 $442,939 
Corporate and Other8,467 13,152 7,049 
Total$324,271 $606,665 $449,988 
Assets:
North America Steel Group$4,219,603 $4,166,521 $3,739,567 
Europe Steel Group677,697 927,468 883,813 
Emerging Businesses Group861,025 874,330 812,107 
Reportable segments total$5,758,325 $5,968,319 $5,435,487 
Corporate and Other1,059,514 670,775 801,540 
Total$6,817,839 $6,639,094 $6,237,027 
The following table presents a reconciliation of earnings to adjusted EBITDA for the reportable segments:
 Year Ended August 31,
(in thousands)202420232022
Net earnings$485,491 $859,760 $1,217,262 
Interest expense47,893 40,127 50,709 
Income taxes150,180 262,207 297,885 
Depreciation and amortization280,367 218,830 175,024 
Asset impairments6,708 3,780 4,926 
Corporate and Other expenses127,758 131,185 154,103 
Adjusted EBITDA reportable segments$1,098,397 $1,515,889 $1,899,909 

The following tables display net sales to external customers by reportable segment and Corporate and Other, disaggregated by major product:
Year Ended August 31, 2024
(in thousands)North America Steel GroupEurope Steel GroupEmerging Businesses GroupCorporate and OtherTotal
Major product:
Raw materials$1,311,995 $17,943 $— $— $1,329,938 
Steel products2,564,472 672,886 — — 3,237,358 
Downstream products2,217,621 121,431 157,644— 2,496,696 
Construction products— — 290,304— 290,304 
Ground stabilization solutions— — 250,941— 250,941 
Other215,642 36,306 18,50850,279 320,735 
Net sales to external customers6,309,730 848,566 717,397 50,279 7,925,972 
Intersegment net sales, eliminated in consolidation73,376 3,044 33,357 (109,777)— 
Net sales$6,383,106 $851,610 $750,754 $(59,498)$7,925,972 

Year Ended August 31, 2023
(in thousands)North America Steel GroupEurope Steel GroupEmerging Businesses GroupCorporate and OtherTotal
Major product:
Raw materials$1,324,373 $21,010 $— $— $1,345,383 
Steel products2,776,572 1,069,130 — — 3,845,702 
Downstream products2,417,045 194,414 118,321 — 2,729,780 
Construction products— — 332,940 — 332,940 
Ground stabilization solutions— — 256,148 — 256,148 
Other186,315 44,237 14,337 44,691 289,580 
Net sales to external customers6,704,305 1,328,791 721,746 44,691 8,799,533 
Intersegment net sales, eliminated in consolidation93,522 2,353 22,802 (118,677)— 
Net sales$6,797,827 $1,331,144 $744,548 $(73,986)$8,799,533 
Year Ended August 31, 2022
(in thousands)North America Steel GroupEurope Steel GroupEmerging Businesses GroupCorporate and OtherTotal
Major product:
Raw materials$1,517,962 $25,778 $— $— $1,543,740 
Steel products2,942,741 1,236,854 — — 4,179,595 
Downstream products2,161,004 285,836 93,403 — 2,540,243 
Construction products— — 322,486 — 322,486 
Ground stabilization solutions— — 100,072 — 100,072 
Other176,698 43,824 9,555 (2,732)227,345 
Net sales to external customers6,798,405 1,592,292 525,516 (2,732)8,913,481 
Intersegment net sales, eliminated in consolidation110,495 2,031 6,873 (119,399)— 
Net sales$6,908,900 $1,594,323 $532,389 $(122,131)$8,913,481 

The following table presents net sales by geographic area:
 Year Ended August 31,
(in thousands)202420232022
Geographic area:
United States$6,465,388 $6,894,990 $6,793,023 
Poland583,320 941,806 1,078,986 
China215,039 217,779 246,679 
Other662,225 744,958 794,793 
Net sales$7,925,972 $8,799,533 $8,913,481 
The following table presents long-lived assets, net of accumulated depreciation and amortization, by geographic area:
 August 31,
(in thousands)202420232022
Geographic area:
United States$2,499,949 $2,343,606 $1,858,269 
Poland236,326 209,966 180,350 
Other43,026 39,704 35,199 
Total long-lived assets, net$2,779,301 $2,593,276 $2,073,818