Segment Operations (Tables)

9 Months Ended

Feb. 28, 2015

Financial Information for Reportable Segments

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

	Three Months Ended February 28,						Nine Months Ended February 28,
(in thousands)	2015			2014			2015			2014
Net sales
Steel Processing	$	500,703		$	477,983		$	1,605,790		$	1,372,558
Pressure Cylinders		248,086			233,290			749,789			664,212
Engineered Cabs		45,390			51,485			146,484			147,814
Other		10,606			10,472			36,148			50,837
Consolidated net sales	$	804,785		$	773,230		$	2,538,211		$	2,235,421
Operating income (loss)
Steel Processing	$	16,406		$	28,264		$	86,152		$	85,713
Pressure Cylinders		18,611			21,278			47,797			49,007
Engineered Cabs		(85,780	)		(1,088	)		(93,534	)		(22,284	)
Other		(1,287	)		(3,165	)		(7,071	)		(9,010	)
Consolidated operating income (loss)	$	(52,050	)	$	45,289		$	33,344		$	103,426
Impairment of goodwill and long-lived assets
Steel Processing	$	-		$	-		$	3,050		$	4,641
Pressure Cylinders		-			-			9,567			11,634
Engineered Cabs		81,600			-			83,989			19,100
Other		-			-			1,179			-
Consolidated impairment of goodwill and long-lived assets	$	81,600		$	-		$	97,785		$	35,375
Restructuring and other expense (income)
Steel Processing	$	(28	)	$	1,380		$	(58	)	$	(3,382	)
Pressure Cylinders		2,498			412			2,926			(1,035	)
Engineered Cabs		(313	)		-			(313	)		-
Other		(64	)		(394	)		(64	)		636
Consolidated restructuring and other expense (income)	$	2,093		$	1,398		$	2,491		$	(3,781	)
Joint venture transactions
Steel Processing	$	-		$	-		$	-		$	-
Pressure Cylinders		-			-			-			-
Engineered Cabs		-			-			-			-
Other		84			120			274			1,048
Consolidated joint venture transactions	$	84		$	120		$	274		$	1,048
(in thousands)	February 28, 2015			May 31, 2014
Total assets
Steel Processing	$	927,717		$	850,748
Pressure Cylinders		851,279			818,720
Engineered Cabs		93,597			181,251
Other		348,808			445,662
Consolidated total assets	$	2,221,401		$	2,296,381