Segment Operations

3 Months Ended

Aug. 31, 2020

Segment Reporting [Abstract]

Segment Operations

NOTE O – Segment Operations

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

	Three Months Ended August 31,
(in thousands)	2020			2019
Net sales
Steel Processing	$	431,020		$	523,375
Pressure Cylinders		270,904			304,396
Other		985			28,088
Total net sales	$	702,909		$	855,859
Operating income (loss)
Steel Processing	$	13,617		$	6,168
Pressure Cylinders		8,642			29,623
Other		(759	)		(45,133	)
Segment operating income (loss)		21,500			(9,342	)
Unallocated corporate and other		(2,110	)		(5,246	)
Incremental expenses related to Nikola gains		(49,511	)		-
Total operating loss	$	(30,121	)	$	(14,588	)
Impairment of long-lived assets
Pressure Cylinders	$	9,924		$	-
Other		-			40,601
Total impairment of long-lived assets	$	9,924		$	40,601
Restructuring and other expense (income), net
Steel Processing	$	1,471		$	(26	)
Pressure Cylinders		314			-
Other		63			481
Total restructuring and other expense	$	1,848		$	455

	August 31,		May 31,
(in thousands)	2020		2020
Total assets
Steel Processing	$	858,552	$	821,657
Pressure Cylinders		1,046,605		1,104,603
Other (1)		1,225,896		405,255
Total assets	$	3,131,053	$	2,331,515

(1) The material changes in total assets primarily relate to the Company’s investment in Nikola.  For additional information refer to “NOTE C – Investment in Nikola”.