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Revenue Recognition | 9 Months Ended
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Feb. 28, 2023
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Note C – Revenue Recognition The following table summarizes net sales by operating segment and product class for the periods presented:
| Three Months Ended |  |  | Nine Months Ended |
| February 28, |  |  | February 28, |
(in thousands) | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Steel Processing |  |  |  |  |  |  |  |  |  |  |
Direct | $ | 722,328 |  |  | $ | 1,015,716 |  |  | $ | 2,531,722 |  |  | $ | 2,704,411 |
Toll |  | 34,679 |  |  |  | 36,846 |  |  |  | 106,112 |  |  |  | 108,803 |
Total |  | 757,007 |  |  |  | 1,052,562 |  |  |  | 2,637,834 |  |  |  | 2,813,214 |
Consumer Products (1) |  | 162,647 |  |  |  | 161,692 |  |  |  | 505,145 |  |  |  | 450,268 |
Building Products (1) |  | 151,876 |  |  |  | 132,944 |  |  |  | 443,870 |  |  |  | 368,813 |
Sustainable Energy Solutions (1) |  | 31,792 |  |  |  | 31,037 |  |  |  | 100,679 |  |  |  | 89,619 |
Total | $ | 1,103,322 |  |  | $ | 1,378,235 |  |  | $ | 3,687,528 |  |  | $ | 3,721,914 |
(1) The products contained within each of these operating segments have similar production processes, require substantially the same raw materials, use similar equipment, and serve similar purposes. Therefore, we believe the products within each of these operating segments are appropriately combined for purposes of the disclosure requirements prescribed by Accounting Standards Codification (“ASC”) Topic 280 and Topic 606. The following table summarizes revenue that has been recognized over time for the periods presented:
| Three Months Ended |  |  | Nine Months Ended |
| February 28, |  |  | February 28, |
(in thousands) | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Steel Processing - toll | $ | 34,679 |  |  | $ | 36,846 |  |  | $ | 106,112 |  |  | $ | 108,803 |
The following table summarizes the unbilled receivables at the dates indicated:
|  |  | February 28, |  |  | May 31, |
(in thousands) | Balance Sheet Classification |  | 2023 |  |  | 2022 |
Unbilled receivables | Receivables |  | $ | 4,961 |  |  | $ | 5,001 |
There were no contract assets at February 28, 2023 or at May 31, 2022. We have elected the optional exemption, which allows for the exclusion of the amounts for remaining performance obligations that are a part of contracts with an expected duration of one year or less. As of February 28, 2023, there were no unsatisfied or partially satisfied performance obligations related to contracts with an expected duration greater than one year.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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