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BUSINESS SEGMENTS (Tables) | 9 Months Ended
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May 31, 2024
Segment Reporting [Abstract] |
Summary of certain financial information from continuing operations by reportable segment | The following is a summary of certain financial information by reportable segment and Corporate and Other, as applicable:
Reconciliations of earnings from continuing operations to adjusted operating profit | The following table presents a reconciliation of net earnings to adjusted EBITDA from the reportable segments:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net earnings |  | $ | 119,440 |  |  | $ | 233,971 |  |  | $ | 381,560 |  |  | $ | 675,594 |
Interest expense |  | 12,117 |  |  | 8,878 |  |  | 35,751 |  |  | 31,868 |
Income taxes |  | 40,867 |  |  | 76,099 |  |  | 120,361 |  |  | 208,465 |
Depreciation and amortization |  | 70,692 |  |  | 55,129 |  |  | 208,177 |  |  | 157,528 |
Asset impairments |  | 146 |  |  | 1 |  |  | 150 |  |  | 46 |
Corporate and Other expenses |  | 37,070 |  |  | 37,715 |  |  | 102,569 |  |  | 93,013 |
Adjusted EBITDA reportable segments |  | $ | 280,332 |  |  | $ | 411,793 |  |  | $ | 848,568 |  |  | $ | 1,166,514 |
Net sales by major product | The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product:
|  | Three Months Ended May 31, 2024
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 396,954 |  |  | $ | 4,721 |  |  | $ | — |  |  | $ | — |  |  | $ | 401,675 |
Steel products |  | 648,618 |  |  | 167,705 |  |  | — |  |  | — |  |  | 816,323 |
Downstream products |  | 594,329 |  |  | 29,599 |  |  | 41,904 |  |  | — |  |  | 665,832 |
Construction products |  | — |  |  | — |  |  | 73,117 |  |  | — |  |  | 73,117 |
Ground stabilization solutions |  | — |  |  | — |  |  | 69,451 |  |  | — |  |  | 69,451 |
Other |  | 31,457 |  |  | 6,781 |  |  | 4,121 |  |  | 9,728 |  |  | 52,087 |
Net sales to external customers |  | 1,671,358 |  |  | 208,806 |  |  | 188,593 |  |  | 9,728 |  |  | 2,078,485 |
Intersegment net sales, eliminated in consolidation |  | 19,495 |  |  | 737 |  |  | 8,041 |  |  | (28,273) |  |  | — |
Net sales |  | $ | 1,690,853 |  |  | $ | 209,543 |  |  | $ | 196,634 |  |  | $ | (18,545) |  |  | $ | 2,078,485 |
|  | Nine Months Ended May 31, 2024
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 1,035,615 |  |  | $ | 12,572 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,048,187 |
Steel products |  | 1,918,686 |  |  | 501,417 |  |  | — |  |  | — |  |  | 2,420,103 |
Downstream products |  | 1,684,584 |  |  | 91,744 |  |  | 119,957 |  |  | — |  |  | 1,896,285 |
Construction products |  | — |  |  | — |  |  | 216,343 |  |  | — |  |  | 216,343 |
Ground stabilization solutions |  | — |  |  | — |  |  | 171,909 |  |  | — |  |  | 171,909 |
Other |  | 111,325 |  |  | 20,748 |  |  | 13,617 |  |  | 31,306 |  |  | 176,996 |
Net sales to external customers |  | 4,750,210 |  |  | 626,481 |  |  | 521,826 |  |  | 31,306 |  |  | 5,929,823 |
Intersegment net sales, eliminated in consolidation |  | 58,036 |  |  | 2,371 |  |  | 20,281 |  |  | (80,688) |  |  | — |
Net sales |  | $ | 4,808,246 |  |  | $ | 628,852 |  |  | $ | 542,107 |  |  | $ | (49,382) |  |  | $ | 5,929,823 |
|  | Three Months Ended May 31, 2023
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 387,106 |  |  | $ | 5,967 |  |  | $ | — |  |  | $ | — |  |  | $ | 393,073 |
Steel products |  | 749,623 |  |  | 269,112 |  |  | — |  |  | — |  |  | 1,018,735 |
Downstream products |  | 631,964 |  |  | 46,448 |  |  | 29,648 |  |  | — |  |  | 708,060 |
Construction products |  | — |  |  | — |  |  | 86,505 |  |  | — |  |  | 86,505 |
Ground stabilization solutions |  | — |  |  | — |  |  | 69,628 |  |  | — |  |  | 69,628 |
Other |  | 49,698 |  |  | 9,240 |  |  | 3,274 |  |  | 6,776 |  |  | 68,988 |
Net sales to external customers |  | 1,818,391 |  |  | 330,767 |  |  | 189,055 |  |  | 6,776 |  |  | 2,344,989 |
Intersegment net sales, eliminated in consolidation |  | 24,031 |  |  | 569 |  |  | 3,622 |  |  | (28,222) |  |  | — |
Net sales |  | $ | 1,842,422 |  |  | $ | 331,336 |  |  | $ | 192,677 |  |  | $ | (21,446) |  |  | $ | 2,344,989 |
|  | Nine Months Ended May 31, 2023
(in thousands) |  | North America Steel Group |  | Europe Steel Group |  | Emerging Businesses Group |  | Corporate and Other |  | Total
Major product: |  |  |  |  |  |  |  |  |  |
Raw materials |  | $ | 998,233 |  |  | $ | 15,728 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,013,961 |
Steel products |  | 2,082,023 |  |  | 853,655 |  |  | — |  |  | — |  |  | 2,935,678 |
Downstream products |  | 1,766,423 |  |  | 156,158 |  |  | 79,986 |  |  | — |  |  | 2,002,567 |
Construction products |  | — |  |  | — |  |  | 245,503 |  |  | — |  |  | 245,503 |
Ground stabilization solutions |  | — |  |  | — |  |  | 177,621 |  |  | — |  |  | 177,621 |
Other(1) |  | 139,647 |  |  | 29,289 |  |  | 10,077 |  |  | 35,962 |  |  | 214,975 |
Net sales to external customers |  | 4,986,326 |  |  | 1,054,830 |  |  | 513,187 |  |  | 35,962 |  |  | 6,590,305 |
Intersegment net sales, eliminated in consolidation |  | 71,598 |  |  | 1,764 |  |  | 19,546 |  |  | (92,908) |  |  | — |
Net sales |  | $ | 5,057,924 |  |  | $ | 1,056,594 |  |  | $ | 532,733 |  |  | $ | (56,946) |  |  | $ | 6,590,305 |
_______________________________ (1) Other revenue during the nine months ended May 31, 2023 includes $17.7 million derived from the Company's NMTC transactions. See Note 9, New Markets Tax Credit Transactions, to the consolidated financial statements in the 2023 Form 10-K for further information.

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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