Business Segments (Tables)

9 Months Ended

May 31, 2012

Summary of certain financial information from continuing operations by reportable segment

The following is a summary of certain financial information from continuing operations by reportable segment:



	Three Months Ended May 31, 2012
	Americas						International
(in thousands)	Recycling		Mills		Fabrication		Mill		Marketing and Distribution		Corporate			Eliminations			Continuing Operations
Net sales-unaffiliated customers	$	364,195	$	343,700	$	375,097	$	246,553	$	677,859	$	(675	)	$	—		$	2,006,729
Intersegment sales	48,217		221,425		4,229		5,285		5,549		—			(284,705		)	—
Net sales	412,412		565,125		379,326		251,838		683,408		(675		)	(284,705		)	2,006,729
Adjusted operating profit (loss)	3,895		59,285		199		1,277		23,346		(20,110		)	(122		)	67,770



	Three Months Ended May 31, 2011
	Americas							International
(in thousands)	Recycling		Mills		Fabrication			Mill		Marketing and Distribution		Corporate			Eliminations			Continuing Operations
Net sales-unaffiliated customers	$	443,898	$	341,972	$	323,997		$	318,138	$	633,706	$	972		$	—		$	2,062,683
Intersegment sales	35,878		204,043		4,453			184		12,721		—			(257,279		)	—
Net sales	479,776		546,015		328,450			318,322		646,427		972			(257,279		)	2,062,683
Adjusted operating profit (loss)	13,194		71,050		(14,737		)	22,616		16,978		(28,503		)	(2,089		)	78,509



	Nine Months Ended May 31, 2012
	Americas							International
(in thousands)	Recycling		Mills		Fabrication			Mill		Marketing and Distribution		Corporate			Eliminations			Continuing Operations
Net sales-unaffiliated customers	$	1,114,185	$	1,032,891	$	988,840		$	715,651	$	2,094,050	$	4,676		$	—		$	5,950,293
Intersegment sales	132,676		583,615		11,847			49,458		22,784		—			(800,380		)	—
Net sales	1,246,861		1,616,506		1,000,687			765,109		2,116,834		4,676			(800,380		)	5,950,293
Adjusted operating profit (loss)	31,100		171,617		(17,150		)	17,691		45,799		(64,314		)	(8,613		)	176,130
Total assets*	263,150		652,223		611,236			507,165		892,143		1,296,599			(803,715		)	3,418,801



	Nine Months Ended May 31, 2011
	Americas							International
(in thousands)	Recycling		Mills		Fabrication			Mill		Marketing and Distribution		Corporate			Eliminations			Continuing Operations
Net sales-unaffiliated customers	$	1,203,046	$	926,213	$	856,350		$	736,291	$	1,884,886	$	12,639		$	—		$	5,619,425
Intersegment sales	103,087		533,120		11,823			3,134		30,122		—			(681,286		)	—
Net sales	1,306,133		1,459,333		868,173			739,425		1,915,008		12,639			(681,286		)	5,619,425
Adjusted operating profit (loss)	32,251		116,138		(86,311		)	33,010		53,588		(55,574		)	(2,018		)	91,084
Total assets at August 31, 2011*	278,120		650,920		590,278			643,748		990,111		1,505,672			(1,079,649		)	3,579,200


*	Excludes total assets from discontinued operations of $41.2 million at May 31, 2012 and $103.9 million at August 31, 2011.

Reconciliation of consolidated adjusted operating profit (loss) to earnings (loss) from continuing operations

The following table provides a reconciliation of consolidated adjusted operating profit (loss) to earnings from continuing operations:



	Three Months Ended May 31,					Nine Months Ended May 31,
(in thousands)	2012		2011			2012			2011
Earnings from continuing operations	$	39,066	$	44,712		$	191,940		$	25,221
Interest expense	19,605		17,797			51,945			53,530
Income taxes (benefit)	7,488		14,493			(72,824		)	8,688
Discounts on sales of accounts receivable	1,611		1,507			5,069			3,645
Adjusted operating profit from continuing operations	67,770		78,509			176,130			91,084
Adjusted operating profit (loss) from discontinued operations	2,622		(8,589		)	(21,543		)	(33,377		)
Adjusted operating profit	$	70,392	$	69,920		$	154,587		$	57,707

External net sales from continuing operations by major product and geographic area

The following represents the Company’s external net sales from continuing operations by major product and geographic area:



	Three Months Ended May 31,				Nine Months Ended May 31,
(in thousands)	2012		2011		2012		2011
Major product information:
Steel products	$	1,212,264	$	1,138,811	$	3,469,716	$	3,143,442
Industrial materials	287,985		319,724		954,485		811,632
Ferrous scrap	201,505		215,610		613,934		556,997
Nonferrous scrap	186,376		251,229		581,414		725,700
Construction materials	46,511		57,478		128,978		157,132
Nonferrous products	48,126		54,396		127,816		145,376
Other	23,962		25,435		73,950		79,146
Net sales	$	2,006,729	$	2,062,683	$	5,950,293	$	5,619,425



	Three Months Ended May 31,				Nine Months Ended May 31,
(in thousands)	2012		2011		2012		2011
Geographic area:
United States	$	1,217,140	$	1,158,843	$	3,551,226	$	3,119,925
Europe	352,781		393,979		1,014,762		1,161,310
Asia	225,976		303,775		764,140		779,974
Australia/New Zealand	159,612		124,953		458,513		387,870
Other	51,220		81,133		161,652		170,346
Net sales	$	2,006,729	$	2,062,683	$	5,950,293	$	5,619,425

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations.

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- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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