XML 70 R62.htm IDEA: XBRL DOCUMENT v3.23.4
Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Nov. 30, 2023
Aug. 31, 2023
Nov. 30, 2022
Aug. 31, 2022
Nov. 30, 2023
Nov. 30, 2022
May 31, 2023
Segment Reporting Information [Line Items]              
Net sales $ 1,086,918   $ 1,175,541   $ 2,280,174 $ 2,584,206  
Impairment of long-lived assets   $ 1,401   $ 312 1,401 312  
Restructuring and other expense (income), net 6   (4,282)   6 (5,382)  
Separation costs 21,952   9,246   27,987 9,246  
Miscellaneous income (expense), net 1,020   1,405   2,031 (3,681)  
Loss on extinguishment of debt         1,534    
Equity income 42,446   36,857   96,827 68,569  
Adjusted EBIT 35,365   23,636   163,845 108,378  
Total assets 3,584,137       3,584,137   $ 3,650,918
Steel Processing              
Segment Reporting Information [Line Items]              
Net sales 788,655   841,947   1,669,993 1,880,827  
Impairment of long-lived assets         1,401 312  
Restructuring and other expense (income), net     (4,282)     (4,205)  
Miscellaneous income (expense), net 306   850   1,018 1,035  
Equity income 3,778   1,906   12,735 3,676  
Adjusted EBIT 6,762 [1]   (17,249) [2]   84,762 [3] 17,663 [4]  
Total assets 1,834,226       1,834,226   1,758,981
Consumer Products              
Segment Reporting Information [Line Items]              
Net sales 147,738   153,795   297,151 342,497  
Miscellaneous income (expense), net 12   (47)   43 (82)  
Adjusted EBIT 9,510 [1]   13,473 [2]   18,502 [3] 34,406 [4]  
Total assets 622,304       622,304   615,430
Building Products              
Segment Reporting Information [Line Items]              
Net sales 122,954   141,671   256,822 291,994  
Miscellaneous income (expense), net 235   76   292 299  
Equity income 35,177   35,107   80,219 78,973  
Adjusted EBIT 40,284 [1]   41,224 [2]   94,300 [3] 93,959 [4]  
Total assets 611,771       611,771   635,650
Sustainable Energy Solutions              
Segment Reporting Information [Line Items]              
Net sales 27,537   38,128   56,174 68,888  
Miscellaneous income (expense), net 557   142   838 56  
Adjusted EBIT (2,617) [1]   1,143 [2]   (7,339) [3] (250) [4]  
Total assets 103,448       103,448   129,872
Other              
Segment Reporting Information [Line Items]              
Net sales 34       34    
Restructuring and other expense (income), net 6       6 (1,177)  
Separation costs 21,952   9,246   27,987 9,246  
Miscellaneous income (expense), net (90)   384   (160) (4,989)  
Loss on extinguishment of debt         (1,534)    
Equity income 3,491   (156)   3,873 (14,080)  
Adjusted EBIT (1,090) [1]   (3,291) [2]   (959) [3] 1,854 [4]  
Total assets 412,388       412,388   $ 510,985
Consolidated              
Segment Reporting Information [Line Items]              
Loss on extinguishment of debt         (1,534)    
Adjusted EBIT $ 52,849 [1]   $ 35,300 [2]   $ 189,266 [3] $ 147,632 [4]  
[1] Excludes the following items in addition to impairment and restructuring activity:
•
Direct and incremental costs associated with the Separation as discussed in “Note A – Basis of Presentation”; and
•
Our share of the pre-tax gain realized by Workhorse in connection with the sale of the joint venture’s operations in Brazil of $2,780;
[2] Excludes the following items in addition to impairment and restructuring activity:
•
Direct and incremental costs associated with the Separation as discussed in “Note A – Basis of Presentation”;
•
Incremental compensation expense of $525 within Consumer Products related to the earnout for the acquisition of Level5 Tools, LLC (“Level5”); and
•
Noncontrolling interest portion of impairment of long-lived assets of $1,850 within Steel Processing.
[3] Excludes the following in addition to impairment and restructuring activity:
•
Direct and incremental costs associated with the Separation as discussed in “Note A – Basis of Presentation”;
•
The pre-tax loss on extinguishment of debt resulting from the redemption of the 2026 Notes, in full, on July 28, 2023; and
•
Noncontrolling interest portion of impairment of long-lived assets of $519 within Steel Processing.
[4] Excludes the following in addition to impairment and restructuring activity:
•
Direct and incremental costs associated with the Separation as discussed in “Note A – Basis of Presentation.”
•
A non-cash settlement charge of $4,774 in miscellaneous income (expense), net within Other related to the pension lift-out transaction associated with the Gerstenslager Company Bargaining Unit Employees’ Pension Plan;
•
A loss of $15,759 within equity income related to the August 31, 2022, sale of our 50% noncontrolling interest in ArtiFlex;
•
Incremental compensation expense of $1,050 within Consumer Products related to the Level5 earnout agreement; and
•
Noncontrolling interest portion of the restructuring gain within Steel processing of $1,734 within Steel Processing.