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INVENTORIES, NET

9 Months Ended

May 31, 2025

Inventory Disclosure [Abstract]

Inventories, net

NOTE 5. INVENTORIES, NET

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 the 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)						May 31, 2025						August 31, 2024
Raw materials						$	274,912					$	232,982
Work in process						4,717						5,390
Finished goods						725,661						733,383
Total						$	1,005,290					$	971,755

Inventory write-down expense was $20.7 million during the nine months ended May 31, 2025, and primarily impacted the North America Steel Group segment. Inventory write-down expense was $6.6 million during the nine months ended May 31, 2024, and mainly affected the Europe Steel Group segment. The inventory write-downs were recorded in cost of goods sold in the condensed consolidated statements of earnings (loss).

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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

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