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INVENTORIES | 12 Months Ended
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Aug. 31, 2025
Inventory Disclosure [Abstract] |
INVENTORIES | NOTE 5. INVENTORIES Most of the Company's inventories are in the form of semi-finished and finished steel products. Under the Company’s vertically integrated business model in the North America Steel Group and Europe Steel Group segments, steel products are sold to external customers in various stages, from semi-finished billets through fabricated steel, so these categories are combined as finished goods. The components of inventories were as follows:
(in thousands) |  | August 31, 2025 |  | August 31, 2024
Raw materials |  | $ | 204,945 |  |  | $ | 232,982 |
Work in process |  | 4,165 |  |  | 5,390 |
Finished goods |  | 725,200 |  |  | 733,383 |
Total |  | $ | 934,310 |  |  | $ | 971,755 |
As of August 31, 2025, the inventory valuation reserve was $2.5 million, and primarily related to the North America Steel Group segment. The inventory valuation reserve was $5.1 million and $11.3 million as of August 31, 2024 and 2023, respectively, and primarily impacted the Europe Steel Group segment. The inventory write-downs were recorded in cost of goods sold in the consolidated statements of earnings.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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