NOTE M – Segment Operations

The following table presents summarized financial information for our reportable segments as of, and for the periods presented:


	Three Months Ended November 30,						Six Months Ended November 30,
(in thousands)	2017			2016			2017			2016
Net sales
Steel Processing	$	538,390		$	508,806		$	1,081,881		$	1,014,480
Pressure Cylinders		300,862			194,661			570,673			399,870
Engineered Cabs		30,404			22,463			62,350			48,044
Other		1,610			1,850			4,599			2,935

Total net sales	$	871,266		$	727,780		$	1,719,503		$	1,465,329

Operating income (loss)
Steel Processing	$	41,130		$	35,448		$	74,002		$	90,230
Pressure Cylinders		24,675			11,304			35,133			25,409
Engineered Cabs		(1,587	)		(3,381	)		(1,948	)		(5,224	)
Other		(12,159	)		(327	)		(12,903	)		(2,473	)

Total operating income	$	52,059		$	43,044		$	94,284		$	107,942

Impairment of goodwill and long-lived assets
Steel Processing	$	-		$	-		$	-		$	-
Pressure Cylinders		964			-			964			-
Engineered Cabs		-			-			-			-
Other		7,325			-			7,325			-

Total impairment of goodwill and long-lived assets	$	8,289		$	-		$	8,289		$	-

Restructuring and other expense (income), net
Steel Processing	$	(10,335	)	$	318		$	(10,056	)	$	1,284
Pressure Cylinders		488			1,963			2,365			2,109
Engineered Cabs		(82	)		1,004			(78	)		1,210
Other		235			(13	)		379			(3	)

Total restructuring and other expense (income), net	$	(9,694	)	$	3,272		$	(7,390	)	$	4,600


(in thousands)	November 30, 2017		May 31, 2017
Total assets
Steel Processing	$	882,710	$	882,863
Pressure Cylinders		1,200,361		766,611
Engineered Cabs		66,957		62,141
Other		421,685		613,729

Total assets	$	2,571,713	$	2,325,344

Effective June 1, 2017, we made certain organizational changes impacting the internal reporting and management structure of Packaging Solutions. As a result of these organizational changes, management responsibilities and internal reporting were realigned, moving Packaging Solutions from the Steel Processing operating segment to the Engineered Cabs operating segment. Previously reported results have not been restated and are immaterial for all periods presented.