Segment Operations

6 Months Ended

Nov. 30, 2014

Segment Operations

NOTE M – Segment Operations

Summarized financial information for our reportable segments is shown in the following table:

	Three Months Ended November 30,						Six Months Ended November 30,
(in thousands)	2014			2013			2014			2013
Net sales
Steel Processing	$	552,756		$	492,134		$	1,105,087		$	894,575
Pressure Cylinders		252,744			214,022			501,703			430,922
Engineered Cabs		51,540			47,868			101,094			96,329
Other		13,972			15,876			25,542			40,365
Consolidated net sales	$	871,012		$	769,900		$	1,733,426		$	1,462,191
Operating income (loss)
Steel Processing	$	33,877		$	34,786		$	69,746		$	57,449
Pressure Cylinders		9,580			8,275			29,186			27,729
Engineered Cabs		(5,609	)		(20,892	)		(7,754	)		(21,196	)
Other		(4,656	)		(2,670	)		(5,784	)		(5,845	)
Consolidated operating income	$	33,192		$	19,499		$	85,394		$	58,137
Restructuring and other expense (income)
Steel Processing	$	-		$	-		$	(30	)	$	(4,762	)
Pressure Cylinders		405			(1,849	)		428			(1,447	)
Engineered Cabs		-			-			-			-
Other		-			667			-			1,030
Consolidated restructuring and other expense (income)	$	405		$	(1,182	)	$	398		$	(5,179	)
Impairment of long-lived assets
Steel Processing	$	1,100		$	-		$	3,050		$	4,641
Pressure Cylinders		9,567			11,634			9,567			11,634
Engineered Cabs		2,389			19,100			2,389			19,100
Other		1,179			-			1,179			-
Consolidated impairment of long-lived assets	$	14,235		$	30,734		$	16,185		$	35,375
Joint venture transactions
Steel Processing	$	-		$	-		$	-		$	-
Pressure Cylinders		-			-			-			-
Engineered Cabs		-			-			-			-
Other		83			786			190			928
Consolidated joint venture transactions	$	83		$	786		$	190		$	928
(in thousands)	November 30, 2014			May 31, 2014
Total assets
Steel Processing	$	875,269		$	850,748
Pressure Cylinders		870,789			818,720
Engineered Cabs		178,761			181,251
Other		382,572			445,662
Consolidated total assets	$	2,307,391		$	2,296,381