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SEGMENT INFORMATION
 12 Months Ended
Aug. 31, 2025
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. The Company's CODM is the President and Chief Executive Officer. The CODM uses adjusted EBITDA to evaluate the underlying operational performance of the Company’s reportable segments and to guide strategic decisions aligned with Company-wide objectives, as it provides a consistent and comparable view of operating results across segments. In doing so, the CODM considers the performance of this measure relative to historical, planned and forecasted financial information when making decisions about capital and personnel allocation.

Adjusted EBITDA is the sum of the Company's earnings before interest expense, income taxes, depreciation and amortization expense, impairment expense and unrealized gains and losses on undesignated commodity hedges. During the fourth quarter of 2025, the Company modified its method of calculating adjusted EBITDA to exclude the impact of unrealized gains and losses on undesignated commodity derivatives. This change was primarily driven by heightened volatility in copper forward markets, which introduced significant non-cash fluctuations unrelated to core operations. By removing this volatility, the revised metric provides a more representative view of operating performance and cash-generating capability. The Company has recast adjusted EBITDA for all periods presented in this Annual Report to conform to the new presentation.

The Company structures its business into the following three reportable segments: North America Steel Group, Emerging Businesses Group and Europe Steel 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, litigation-related expenses, 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 following tables present net sales and the significant expense categories that are included in adjusted EBITDA and regularly provided to the Company's CODM:
 Year Ended August 31, 2025
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel GroupTotal
Net sales to external customers$6,083,849 $747,486 $918,320 $7,749,655 
Intersegment net sales66,953 58,596 2,839 128,388 
$6,150,802 $806,082 $921,159 $7,878,043 
Reconciliation of net sales
Corporate and Other, excluding eliminations48,825 
Eliminations(128,388)
Total consolidated net sales$7,798,480 
Less:
Cost of goods sold5,286,310 547,607 859,269 
Selling, general and administrative expenses316,900 168,718 27,358 
Add:
Depreciation and amortization(1)
197,314 43,744 34,746 
Asset impairments(1)
383 4,220 4 
Unrealized gain on undesignated commodity hedges(1)
(2,804)— — 
Adjusted EBITDA reportable segments$742,485 $137,721 $69,282 $949,488 
Reconciliation of profit or loss
Interest expense45,498 
Depreciation and amortization285,877 
Asset impairments4,607 
Unrealized gain on undesignated commodity hedges(2,804)
Corporate and Other expenses508,765 
Earnings before income taxes$107,545 
Capital expenditures$323,517 $38,315 $33,613 
Assets$4,306,295 $883,232 $750,370 
__________________________________
(1) Depreciation and amortization, asset impairments and unrealized gain on undesignated commodity hedges are included in either cost of goods sold or SG&A expenses when those expenses are provided to the CODM.
 Year Ended August 31, 2024
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel GroupTotal
Net sales to external customers$6,309,730 $717,397 $848,566 $7,875,693 
Intersegment net sales73,376 33,357 3,044 109,777 
$6,383,106 $750,754 $851,610 $7,985,470 
Reconciliation of net sales
Corporate and Other, excluding eliminations50,279 
Eliminations(109,777)
Total consolidated net sales$7,925,972 
Less:
Cost of goods sold5,319,787 512,883 839,872 
Selling, general and administrative expenses316,224 152,286 23,448 
Add:
Depreciation and amortization(1)
192,697 43,945 34,077 
Asset impairments(1)
6,558 — 150 
Unrealized gain on undesignated commodity hedges(1)
(1,962)— — 
Adjusted EBITDA reportable segments$944,388 $129,530 $22,517 $1,096,435 
Reconciliation of profit or loss
Interest expense47,893 
Depreciation and amortization280,367 
Asset impairments6,708 
Unrealized gain loss on undesignated commodity hedges(1,962)
Corporate and Other expenses127,758 
Earnings before income taxes$635,671 
Capital expenditures$250,599 $20,479 $44,726 
Assets$4,219,603 $861,025 $677,697 
__________________________________
(1) Depreciation and amortization, asset impairments and unrealized gain on undesignated commodity hedges are included in either cost of goods sold or SG&A expenses when those expenses are provided to the CODM.
 Year Ended August 31, 2023
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel GroupTotal
Net sales to external customers$6,704,305 $721,746 $1,328,791 $8,754,842 
Intersegment net sales93,522 22,802 2,353 118,677 
$6,797,827 $744,548 $1,331,144 $8,873,519 
Reconciliation of net sales
Corporate and Other, excluding eliminations44,691 
Eliminations(118,677)
Total consolidated net sales$8,799,533 
Less:
Cost of goods sold$5,302,100 $509,905 $1,290,825 
Selling, general and administrative expenses307,420 136,383 24,500 
Add:
Depreciation and amortization(1)
136,391 40,725 32,607 
Asset impairments(1)
3,733 — 47 
Unrealized loss on undesignated commodity hedges(1)
3,122 — — 
Adjusted EBITDA reportable segments$1,331,553 $138,985 $48,473 $1,519,011 
Reconciliation of profit or loss
Interest expense40,127 
Depreciation and amortization218,830 
Asset impairments3,780 
Unrealized loss on undesignated commodity hedges3,122 
Corporate and Other expenses131,185 
Earnings before income taxes$1,121,967 
Capital expenditures$535,927 $19,986 $37,600 
Assets$4,166,521 $874,330 $927,468 
__________________________________
(1) Depreciation and amortization, asset impairments and unrealized loss on undesignated commodity hedges are included in either cost of goods sold or SG&A expenses when those expenses are provided to the CODM.

The following tables present a reconciliation of certain financial information to consolidated totals for the reportable segments:
 Year Ended August 31, 2025
(in thousands)Reportable Segments TotalCorporate and OtherConsolidated Total
Depreciation and amortization$275,804 $10,073 $285,877 
Asset impairments4,607 — 4,607 
Capital expenditures395,445 7,376 402,821 
Assets5,939,897 1,231,937 7,171,834 
 Year Ended August 31, 2024
(in thousands)Reportable Segments TotalCorporate and OtherConsolidated Total
Depreciation and amortization$270,719 $9,648 $280,367 
Asset impairments6,708 — 6,708 
Capital expenditures315,804 8,467 324,271 
Assets5,758,325 1,059,514 6,817,839 
 Year Ended August 31, 2023
(in thousands)Reportable Segments TotalCorporate and OtherConsolidated Total
Depreciation and amortization$209,723 $9,107 $218,830 
Asset impairments3,780 — 3,780 
Capital expenditures593,513 13,152 606,665 
Assets5,968,319 670,775 6,639,094 

The following tables display net sales to external customers by reportable segment and Corporate and Other, disaggregated by major product:
Year Ended August 31, 2025
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel GroupCorporate and OtherTotal
Major product:
Raw materials$1,305,753 $— $22,859 $— $1,328,612 
Steel products2,564,107 — 727,372 — 3,291,479 
Downstream products1,993,761 163,409129,841 — 2,287,011 
Construction products— 304,130— — 304,130 
Ground stabilization solutions— 261,738— — 261,738 
Other220,228 18,20938,248 48,825 325,510 
Net sales to external customers6,083,849 747,486 918,320 48,825 7,798,480 
Intersegment net sales, eliminated in consolidation66,953 58,596 2,839 (128,388)— 
Net sales$6,150,802 $806,082 $921,159 $(79,563)$7,798,480 

Year Ended August 31, 2024
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel 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 products2,217,621 157,644 121,431 — 2,496,696 
Construction products— 290,304 — — 290,304 
Ground stabilization solutions— 250,941 — — 250,941 
Other215,642 18,508 36,306 50,279 320,735 
Net sales to external customers6,309,730 717,397 848,566 50,279 7,925,972 
Intersegment net sales, eliminated in consolidation73,376 33,357 3,044 (109,777)— 
Net sales$6,383,106 $750,754 $851,610 $(59,498)$7,925,972 
Year Ended August 31, 2023
(in thousands)North America Steel GroupEmerging Businesses GroupEurope Steel 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 products2,417,045 118,321 194,414 — 2,729,780 
Construction products— 332,940 — — 332,940 
Ground stabilization solutions— 256,148 — — 256,148 
Other186,315 14,337 44,237 44,691 289,580 
Net sales to external customers6,704,305 721,746 1,328,791 44,691 8,799,533 
Intersegment net sales, eliminated in consolidation93,522 22,802 2,353 (118,677)— 
Net sales$6,797,827 $744,548 $1,331,144 $(73,986)$8,799,533 

The Company allocates net sales to external customers based on the location of the customer. The following table presents net sales by geographic area of the Company's customers:
 Year Ended August 31,
(in thousands)202520242023
Geographic area:
United States$6,216,096 $6,465,388 $6,894,990 
Poland617,623 583,320 941,806 
Other964,761 877,264 962,737 
Net sales$7,798,480 $7,925,972 $8,799,533 
The following table presents long-lived assets, net of accumulated depreciation and amortization, by geographic area:
 August 31,
(in thousands)202520242023
Geographic area:
United States$2,650,327 $2,499,949 $2,343,606 
Poland256,248 236,326 209,966 
Other37,780 43,026 39,704 
Total long-lived assets, net$2,944,355 $2,779,301 $2,593,276