CHANGES IN BUSINESS (Tables)

9 Months Ended

May 31, 2018

Structural Steel Fabrication Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Financial information for discontinued operations

The assets and liabilities related to these operations were included as assets and liabilities of businesses held for sale & discontinued operations in the condensed consolidated balance sheet at August 31, 2017, and consisted of the following:

(in thousands)	August 31, 2017*
Assets:
Accounts receivable	$	38,279
Inventories	10,676
Other current assets	77
Assets of businesses held for sale & discontinued operations	$	49,032
Liabilities:
Accounts payable-trade	$	13,108
Accrued expenses and other payables	16,785
Liabilities of businesses held for sale & discontinued operations	$	29,893

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* At August 31, 2017, $8.8 million of property, plant, and equipment, net of accumulated depreciation and amortization was included in other noncurrent assets on the consolidated balance sheets.

International Marketing and Distribution

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Financial information for discontinued operations

The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings, which primarily relate to International Marketing and Distribution activities, are presented in the table below.

	Three Months Ended May 31,						Nine Months Ended May 31,
(in thousands)	2018			2017			2018			2017
Net sales	$	3,262		$	337,903		$	304,384		$	847,338
Costs and expenses:
Cost of goods sold	4,233			312,917			276,371			784,836
Selling, general and administrative expenses	2,418			15,740			23,078			42,919
Interest expense	—			(79		)	(86		)	(104		)
Earnings (loss) before income taxes	(3,389		)	9,325			5,021			19,687
Income taxes (benefit)	(1,029		)	1,626			2,052			4,059
Earnings (loss) from discontinued operations	$	(2,360	)	$	7,699		$	2,969		$	15,628

There were no material operating or investing non-cash items for discontinued operations for the nine months ended May 31, 2018 and 2017.

Components of the International Marketing and Distribution segment meeting the criteria for discontinued operations have been re-classified as assets and liabilities of business held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below.

(in thousands)	May 31, 2018		August 31, 2017*
Assets:
Accounts receivable	$	6,954	$	106,905
Inventories, net	—		141,135
Other current assets	4,111		38
Property, plant and equipment, net	217		—
Assets of businesses held for sale & discontinued operations	$	11,282	$	248,078
Liabilities:
Accounts payable-trade	$	—	$	42,563
Accrued expenses and other payables	2,843		15,372
Liabilities of businesses held for sale & discontinued operations	$	2,843	$	57,935

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* Property, plant, and equipment, net of accumulated depreciation and amortization of $0.8 million at August 31, 2017 was included in other noncurrent assets on the unaudited condensed consolidated balance sheets.