BUSINESS SEGMENTS (Tables)

6 Months Ended

Feb. 29, 2024

Summary of certain financial information from continuing operations by reportable segment

The following is a summary of certain financial information by reportable segment and Corporate and Other, as applicable:

Reconciliations of earnings from continuing operations to adjusted operating profit

The following table presents a reconciliation of net earnings to adjusted EBITDA from the reportable segments:


	Three Months Ended				Six Months Ended
(in thousands)	February 29, 2024		February 28, 2023		February 29, 2024		February 28, 2023
Net earnings	$	85,847	$	179,849	$	262,120	$	441,623
Interest expense	11,878		9,945		23,634		22,990
Income taxes	31,072		55,641		79,494		132,366
Depreciation and amortization	68,299		51,216		137,485		102,399
Asset impairments	4		36		4		45
Corporate and Other expenses	34,512		15,573		65,499		55,298
Adjusted EBITDA reportable segments	$	231,612	$	312,260	$	568,236	$	754,721

Net sales by major product

The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product:


	Three Months Ended February 29, 2024
(in thousands)	North America Steel Group		Europe Steel Group		Emerging Businesses Group		Corporate and Other		Total
Major product:
Raw materials	$	325,006	$	4,137	$	—	$	—	$	329,143
Steel products	612,308		158,180		—		—		770,488
Downstream products	513,253		23,517		40,507		—		577,277
Construction products	—		—		65,467		—		65,467
Ground stabilization solutions	—		—		45,135		—		45,135
Other	35,635		6,666		4,885		13,591		60,777
Net sales from external customers	1,486,202		192,500		155,994		13,591		1,848,287
Intersegment net sales, eliminated on consolidation	18,904		1,058		7,453		(27,415)		—
Net sales	$	1,505,106	$	193,558	$	163,447	$	(13,824)	$	1,848,287

	Six Months Ended February 29, 2024
(in thousands)	North America Steel Group		Europe Steel Group		Emerging Businesses Group		Corporate and Other		Total
Major product:
Raw materials	$	638,661	$	7,851	$	—	$	—	$	646,512
Steel products	1,270,068		333,712		—		—		1,603,780
Downstream products	1,090,255		62,145		78,053		—		1,230,453
Construction products	—		—		143,226		—		143,226
Ground stabilization solutions	—		—		102,458		—		102,458
Other	79,868		13,967		9,496		21,578		124,909
Net sales from external customers	3,078,852		417,675		333,233		21,578		3,851,338
Intersegment net sales, eliminated on consolidation	38,541		1,634		12,240		(52,415)		—
Net sales	$	3,117,393	$	419,309	$	345,473	$	(30,837)	$	3,851,338


	Three Months Ended February 28, 2023
(in thousands)	North America Steel Group		Europe Steel Group		Emerging Businesses Group		Corporate and Other		Total
Major product:
Raw materials	$	317,807	$	4,894	$	—	$	—	$	322,701
Steel products	628,806		272,607		—		—		901,413
Downstream products	515,492		50,128		25,530		—		591,150
Construction products	—		—		75,431		—		75,431
Ground stabilization solutions	—		—		48,914		—		48,914
Other(1)	41,669		9,931		3,723		23,071		78,394
Net sales from external customers	1,503,774		337,560		153,598		23,071		2,018,003
Intersegment net sales, eliminated on consolidation	21,713		663		7,146		(29,522)		—
Net sales	$	1,525,487	$	338,223	$	160,744	$	(6,451)	$	2,018,003

	Six Months Ended February 28, 2023
(in thousands)	North America Steel Group		Europe Steel Group		Emerging Businesses Group		Corporate and Other		Total
Major product:
Raw materials	$	611,127	$	9,761	$	—	$	—	$	620,888
Steel products	1,332,400		584,543		—		—		1,916,943
Downstream products	1,134,459		109,710		50,338		—		1,294,507
Construction products	—		—		158,998		—		158,998
Ground stabilization solutions	—		—		107,993		—		107,993
Other(1)	89,949		20,049		6,803		29,186		145,987
Net sales from external customers	3,167,935		724,063		324,132		29,186		4,245,316
Intersegment net sales, eliminated on consolidation	47,567		1,195		15,924		(64,686)		—
Net sales	$	3,215,502	$	725,258	$	340,056	$	(35,500)	$	4,245,316

_______________________________

(1) Other revenue during the three and six months ended February 28, 2023 includes $17.7 million derived from the Company's NMTC transactions. See Note 9, New Markets Tax Credit Transactions, to the consolidated financial statements in the 2023 Form 10-K for further information.