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Pay vs Performance Disclosure
Unit_pure in Millions
 12 Months Ended
Aug. 31, 2023
USD ($)
Aug. 31, 2022
USD ($)
Aug. 31, 2021
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance
 
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and
non-PEO
NEOs for the fiscal years listed below and certain measures of Company performance for such periods. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.
 
Year
Summary
Compensation
Table Total for
PEO
(1)
($)
Compensation
Actually Paid to
PEO
(1),(2),(3)
($)
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs
(1)
($)
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
(1),(2),(3)
 
($)
Value of Initial
Fixed $100
Investment
Based on:
(4)
Net Income
($ Millions)
Adjusted
EBITDA
(Comp)
(5)
($ Millions)
Company
TSR ($)
Peer
Group
TSR ($)
               
2023 $ 9,603,625 $ 20,834,770 $ 2,648,855 $ 4,195,063 $ 282.94 $ 376.11 $ 859.8 $ 1,367
               
2022 $ 10,207,641 $ 20,007,324 $ 2,768,137 $ 4,201,966 $ 201.02 $ 305.08 $ 1,217.3 $ 1,472
               
2021 $ 9,054,252 $ 19,888,683 $ 2,357,005 $ 3,608,516 $ 159.38 $ 265.38 $ 412.9 $ 762
 
(1)
 
Barbara R. Smith was our PEO for each year presented. The individuals comprising the
non-PEO
NEOs for each year presented are listed below.
 
2021
   
2022
   
2023
   
Paul J. Lawrence    Paul J. Lawrence    Peter R. Matt
   
Jody K. Absher    Ty L. Garrison    Paul J. Lawrence
   
Jennifer J. Durbin    Jody K. Absher    Ty L. Garrison
   
Tracy L. Porter    Jennifer J. Durbin    Jody K. Absher
   
 
 
    Tracy L. Porter    Jennifer J. Durbin
 
(2)
 
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
 
(3)
 
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table.
 
       
Year
Summary
Compensation
Table Total for
PEO ($)
Exclusion of
Stock Awards
for PEO ($)
Inclusion of
Equity Values
for PEO ($)
Compensation
Actually Paid
to PEO ($)
       
2023 $ 9,603,625 $ (6,184,205 ) $ 17,415,350 $ 20,834,770
       
2022 $ 10,207,641 $ (5,825,836 ) $ 15,625,519 $ 20,007,324
       
2021 $ 9,054,252 $ (4,859,240 ) $ 15,693,671 $ 19,888,683
 
Year
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs ($)
Average
Exclusion of
Stock Awards
for
Non-PEO

NEOs ($)
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs ($)
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
2023 $ 2,648,855 $ (1,503,482 ) $ 3,049,690 $ 4,195,063
2022 $ 2,768,137 $ (1,115,542 ) $ 2,549,371 $ 4,201,966
2021 $ 2,357,005 $ (917,366 ) $ 2,168,877 $ 3,608,516
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
Year-End Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for PEO
($)
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO ($)
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for PEO ($)
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
for PEO ($)
Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During
Year for
PEO ($)
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards Not
Otherwise
Included
for PEO ($)
Total -
Inclusion
of Equity
Values for
PEO ($)
2023 $ 5,426,209 $ 2,054,000 $ 2,762,628 $ 7,172,513 $ — $ — $ 17,415,350
2022 $ 4,866,271 $ 1,133,400 $ 2,921,104 $ 6,704,744 $ — $ — $ 15,625,519
2021 $ 3,837,861 $ 2,213,685 $ 2,687,565 $ 6,954,560 $ — $ — $ 15,693,671
 
Year
Average
Year-End
Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for
Non-PEO

NEOs ($)
Average
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for
Non-PEO

NEOs ($)
Average
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for
Non-PEO

NEOs ($)
Average
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
for
Non-PEO

NEOs ($)
Average
Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During
Year for
Non-PEO

NEOs ($)
Average
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards
Not
Otherwise
Included
for
Non-PEO

NEOs ($)
Total -
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs ($)
2023 $ 2,002,411 $ 388,349 $ — $ 658,930 $ — $ — $ 3,049,690
2022 $ 1,216,609 $ 261,708 $ 253,162 $ 817,892 $ — $ — $ 2,549,371
2021 $ 922,229 $ 348,646 $ 284,433 $ 613,569 $ — $ — $ 2,168,877
 
(4)
 
The Peer Group TSR set forth in this table utilizes the S&P 500 Steel Index which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K.
The amounts reported reflect the cumulative TSR of the Company and the S&P 500 Steel Index as of August 31 of each year presented assuming an initial $100 investment on August 31, 2020. Historical stock performance is not necessarily indicative of future stock performance.
 
(5)
 
We determined Adjusted EBITDA (Comp) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and
non-PEO
NEOs in fiscal year 2023. We define Adjusted EBITDA (Comp) as the sum of the Company’s net earnings before interest expense, income taxes, depreciation and amortization expense, asset impairments, and amortization of acquired unfavorable contract backlog. Adjusted EBITDA (Comp) is a
non-GAAP
financial measure. This performance measure may not have been the most important financial performance measure for fiscal years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
 
    
Company Selected Measure Name Adjusted EBITDA (Comp)    
Named Executive Officers, Footnote [Text Block]
 
(1)
 
Barbara R. Smith was our PEO for each year presented. The individuals comprising the
non-PEO
NEOs for each year presented are listed below.
 
2021
   
2022
   
2023
   
Paul J. Lawrence    Paul J. Lawrence    Peter R. Matt
   
Jody K. Absher    Ty L. Garrison    Paul J. Lawrence
   
Jennifer J. Durbin    Jody K. Absher    Ty L. Garrison
   
Tracy L. Porter    Jennifer J. Durbin    Jody K. Absher
   
 
 
    Tracy L. Porter    Jennifer J. Durbin
   
Peer Group Issuers, Footnote [Text Block] The Peer Group TSR set forth in this table utilizes the S&P 500 Steel Index which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K.
The amounts reported reflect the cumulative TSR of the Company and the S&P 500 Steel Index as of August 31 of each year presented assuming an initial $100 investment on August 31, 2020. Historical stock performance is not necessarily indicative of future stock performance. 		   
PEO Total Compensation Amount $ 9,603,625 $ 10,207,641 $ 9,054,252
PEO Actually Paid Compensation Amount $ 20,834,770 20,007,324 19,888,683
Adjustment To PEO Compensation, Footnote [Text Block]
 
(3)
 
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table.
 
       
Year
Summary
Compensation
Table Total for
PEO ($)
Exclusion of
Stock Awards
for PEO ($)
Inclusion of
Equity Values
for PEO ($)
Compensation
Actually Paid
to PEO ($)
       
2023 $ 9,603,625 $ (6,184,205 ) $ 17,415,350 $ 20,834,770
       
2022 $ 10,207,641 $ (5,825,836 ) $ 15,625,519 $ 20,007,324
       
2021 $ 9,054,252 $ (4,859,240 ) $ 15,693,671 $ 19,888,683
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
Year-End Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for PEO
($)
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO ($)
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for PEO ($)
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
for PEO ($)
Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During
Year for
PEO ($)
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards Not
Otherwise
Included
for PEO ($)
Total -
Inclusion
of Equity
Values for
PEO ($)
2023 $ 5,426,209 $ 2,054,000 $ 2,762,628 $ 7,172,513 $ — $ — $ 17,415,350
2022 $ 4,866,271 $ 1,133,400 $ 2,921,104 $ 6,704,744 $ — $ — $ 15,625,519
2021 $ 3,837,861 $ 2,213,685 $ 2,687,565 $ 6,954,560 $ — $ — $ 15,693,671
   
Non-PEO NEO Average Total Compensation Amount $ 2,648,855 2,768,137 2,357,005
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,195,063 4,201,966 3,608,516
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
 
(3)
 
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table.
 
Year
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs ($)
Average
Exclusion of
Stock Awards
for
Non-PEO

NEOs ($)
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs ($)
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
2023 $ 2,648,855 $ (1,503,482 ) $ 3,049,690 $ 4,195,063
2022 $ 2,768,137 $ (1,115,542 ) $ 2,549,371 $ 4,201,966
2021 $ 2,357,005 $ (917,366 ) $ 2,168,877 $ 3,608,516
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
Average
Year-End
Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year for
Non-PEO

NEOs ($)
Average
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for
Non-PEO

NEOs ($)
Average
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for
Non-PEO

NEOs ($)
Average
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
for
Non-PEO

NEOs ($)
Average
Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During
Year for
Non-PEO

NEOs ($)
Average
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards
Not
Otherwise
Included
for
Non-PEO

NEOs ($)
Total -
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs ($)
2023 $ 2,002,411 $ 388,349 $ — $ 658,930 $ — $ — $ 3,049,690
2022 $ 1,216,609 $ 261,708 $ 253,162 $ 817,892 $ — $ — $ 2,549,371
2021 $ 922,229 $ 348,646 $ 284,433 $ 613,569 $ — $ — $ 2,168,877
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
Relationship Among PEO and
Non-PEO
NEO Compensation Actually Paid, Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average Compensation Actually Paid to our
non-PEO
NEOs, the Company’s cumulative TSR over the three most recently completed fiscal years and the S&P 500 Steel Index TSR over the same period.
 
 
LOGO
   
Compensation Actually Paid vs. Net Income [Text Block]
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average Compensation Actually Paid to our
non-PEO
NEOs, and our Net Income during the three most recently completed fiscal years.
 
 
LOGO
   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Company-Selected Measure
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average Compensation Actually Paid to our
non-PEO
NEOs, and our Company-Selected Measure during the three most recently completed fiscal years.
 
 
LOGO
   
Total Shareholder Return Vs Peer Group [Text Block]
Relationship Among PEO and
Non-PEO
NEO Compensation Actually Paid, Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average Compensation Actually Paid to our
non-PEO
NEOs, the Company’s cumulative TSR over the three most recently completed fiscal years and the S&P 500 Steel Index TSR over the same period.
 
 
LOGO
   
Tabular List [Table Text Block]
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other NEOs for fiscal year 2023 to Company performance. The measures in this table are not ranked.
 
 
Adjusted EBITDA (Comp)
Adjusted Earnings (Comp)
ROICC
Relative TSR
 
   
Total Shareholder Return Amount $ 282.94 201.02 159.38
Peer Group Total Shareholder Return Amount 376.11 305.08 265.38
Net Income (Loss) $ 859,800,000 $ 1,217,300,000 $ 412,900,000
Company Selected Measure Amount 1,367 1,472 762
PEO Name Barbara R. Smith    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDA (Comp)    
Non-GAAP Measure Description [Text Block] We determined Adjusted EBITDA (Comp) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and
non-PEO
NEOs in fiscal year 2023. We define Adjusted EBITDA (Comp) as the sum of the Company’s net earnings before interest expense, income taxes, depreciation and amortization expense, asset impairments, and amortization of acquired unfavorable contract backlog. Adjusted EBITDA (Comp) is a
non-GAAP
financial measure. This performance measure may not have been the most important financial performance measure for fiscal years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years. 		   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted Earnings (Comp)    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name ROICC    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR    
PEO [Member] | Exclusion of Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (6,184,205) $ (5,825,836) $ (4,859,240)
PEO [Member] | Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 17,415,350 15,625,519 15,693,671
PEO [Member] | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 5,426,209 4,866,271 3,837,861
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,054,000 1,133,400 2,213,685
PEO [Member] | VestingDate Fair Value of Equity Awards Granted During Year that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,762,628 2,921,104 2,687,565
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 7,172,513 6,704,744 6,954,560
PEO [Member] | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
PEO [Member] | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
PEO [Member] | Total Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 17,415,350 15,625,519 15,693,671
Non-PEO NEO [Member] | Exclusion of Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,503,482) (1,115,542) (917,366)
Non-PEO NEO [Member] | Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 3,049,690 2,549,371 2,168,877
Non-PEO NEO [Member] | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,002,411 1,216,609 922,229
Non-PEO NEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 388,349 261,708 348,646
Non-PEO NEO [Member] | VestingDate Fair Value of Equity Awards Granted During Year that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 253,162 284,433
Non-PEO NEO [Member] | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 658,930 817,892 613,569
Non-PEO NEO [Member] | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
Non-PEO NEO [Member] | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
Non-PEO NEO [Member] | Total Inclusion of Equity Values [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 3,049,690 $ 2,549,371 $ 2,168,877