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REVENUE RECOGNITION
 12 Months Ended
Aug. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION
NOTE 4. REVENUE RECOGNITION

Revenue from Contracts with Customers
The majority of the Company's revenue is recognized at a point in time, concurrent with the transfer of control, which usually occurs, depending on shipping terms, upon shipment or customer receipt. See Note 19, Segment Information, for more information about disaggregated revenue by the Company's major product lines.

Certain revenue from sales of downstream products in the North America Steel Group segment is recognized over time, as discussed below. Remaining revenue from sales of downstream products in the North America Steel Group segment is recognized based on the amount the Company has a right to invoice as a practical expedient.

Each of the North America Steel Group segment's fabrication contracts represents a single performance obligation. Revenue from certain fabrication contracts for which the Company provides downstream products and installation services is recognized over time using an input measure. This revenue represented 8% of net sales in the North America Steel Group segment in 2025, 2024 and 2023. Revenue from fabrication contracts for which the Company does not provide installation services is recognized over time using an output measure, and represented 10% of net sales in the North America Steel Group in both 2025 and 2024, compared to 12% in 2023.

The following table provides information about assets and liabilities from contracts with customers:
(in thousands)August 31, 2025August 31, 2024
Contract assets (included in accounts receivable)$108,570 $57,007 
Contract liabilities (included in other accrued expenses and payables)21,631 35,356
The entire contract liability as of August 31, 2024 was recognized in net sales during 2025.

Remaining Performance Obligations
As of August 31, 2025, revenue totaling $867.4 million was allocated to remaining performance obligations in the North America Steel Group segment related to contracts for which revenue is recognized using input or output measures. The Company estimates that approximately 75% of the remaining performance obligations will be recognized during 2026 and the remainder will be recognized during 2027. The duration of all other contracts in the North America Steel Group, Emerging Businesses Group and Europe Steel Group segments is typically less than one year.