Segment Information (Tables)
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12 Months Ended |
Aug. 31, 2015 |
Segment Reporting [Abstract] |
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Reconciliation of Assets from Segment to Consolidated |
The following is a summary of the Company’s total assets as of August 31 (in thousands): | | | | | | | | | | 2015 | | 2014 | Total assets: | | | | Auto and Metals Recycling(1) | $ | 1,492,906 |
| | $ | 1,708,392 |
| Steel Manufacturing Business | 370,955 |
| | 350,344 |
| Total segment assets | 1,863,861 |
| | 2,058,736 |
| Corporate and eliminations | (901,562 | ) | | (703,526 | ) | Total assets | $ | 962,299 |
| | $ | 1,355,210 |
| Property, plant and equipment, net (2) | $ | 427,554 |
| | $ | 523,433 |
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_____________________________ | | (1) | AMR total assets include $15 million as of August 31, 2015 and 2014 for investments in joint ventures. |
| | (2) | Property, plant and equipment, net includes $29 million and $75 million as of August 31, 2015 and 2014, respectively, at our Canadian locations. |
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Schedule of Segment Reporting Information, by Segment |
The table below illustrates the Company’s results from continuing operations by reportable segment for the years ended August 31 (in thousands): | | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Auto and Metals Recycling: | | | | | | Revenues | $ | 1,716,296 |
| | $ | 2,334,389 |
| | $ | 2,442,679 |
| Less: Intersegment revenues | (175,934 | ) | | (188,103 | ) | | (178,341 | ) | AMR external customer revenues | 1,540,362 |
| | 2,146,286 |
| | 2,264,338 |
| Steel Manufacturing Business: | | | | | | Revenues | 375,037 |
| | 388,640 |
| | 352,454 |
| Total revenues | $ | 1,915,399 |
| | $ | 2,534,926 |
| | $ | 2,616,792 |
| Depreciation and amortization: | | | | | | Auto and Metals Recycling | $ | 56,767 |
| | $ | 66,894 |
| | $ | 69,896 |
| Steel Manufacturing Business | 7,523 |
| | 8,256 |
| | 9,072 |
| Segment depreciation and amortization | 64,290 |
| | 75,150 |
| | 78,968 |
| Corporate | 2,825 |
| | 2,724 |
| | 3,241 |
| Total depreciation and amortization | $ | 67,115 |
| | $ | 77,874 |
| | $ | 82,209 |
| Capital expenditures: | | | | | | Auto and Metals Recycling | $ | 22,762 |
| | $ | 29,281 |
| | $ | 74,699 |
| Steel Manufacturing Business | 6,899 |
| | 5,379 |
| | 7,582 |
| Segment capital expenditures | 29,661 |
| | 34,660 |
| | 82,281 |
| Corporate | 2,636 |
| | 4,487 |
| | 8,100 |
| Total capital expenditures | $ | 32,297 |
| | $ | 39,147 |
| | $ | 90,381 |
| Reconciliation of the Company’s segment operating income (loss) to income (loss) from continuing operations before income taxes: | | | | | | Auto and Metals Recycling(1) | $ | (164,031 | ) | | $ | 55,089 |
| | $ | (281,812 | ) | Steel Manufacturing Business | 20,378 |
| | 18,538 |
| | 6,541 |
| Segment operating income (loss) | (143,653 | ) | | 73,627 |
| | (275,271 | ) | Restructuring charges and other exit-related costs | (13,008 | ) | | (6,830 | ) | | (7,906 | ) | Corporate and eliminations | (38,868 | ) | | (42,433 | ) | | (40,001 | ) | Operating income (loss) | (195,529 | ) | | 24,364 |
| | (323,178 | ) | Interest expense | (9,191 | ) | | $ | (10,597 | ) | | (9,623 | ) | Other income, net | 4,256 |
| | 1,215 |
| | 77 |
| Income (loss) from continuing operations before income taxes | $ | (200,464 | ) | | $ | 14,982 |
| | $ | (332,724 | ) |
_____________________________ | | (1) | AMR operating income (loss) includes $2 million, $1 million and $1 million in income from joint ventures accounted for by the equity method in fiscal 2015, 2014 and 2013, respectively. The AMR operating income (loss) for fiscal 2015, 2014 and 2013 includes a goodwill impairment charge of $141 million, zero and $321 million , respectively, and other asset impairment charges of $44 million, $1 million and $13 million, respectively. |
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Revenue from External Customers by Geographic Areas |
The following revenues from external customers are presented based on the sales destination and by major product for the years ended August 31 (in thousands): | | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Revenues based on sales destination: | | | | | | Foreign | $ | 984,910 |
| | $ | 1,472,023 |
| | $ | 1,657,200 |
| Domestic | 930,489 |
| | 1,062,903 |
| | 959,592 |
| Total revenues from external customers | $ | 1,915,399 |
| | $ | 2,534,926 |
| | $ | 2,616,792 |
| | | | | | | Major product information: | | | | | | Ferrous scrap metal | $ | 922,291 |
| | $ | 1,440,582 |
| | $ | 1,550,995 |
| Nonferrous scrap metal | 488,036 |
| | 556,139 |
| | 562,968 |
| Retail and other | 130,035 |
| | 149,565 |
| | 150,375 |
| Finished steel products | 363,795 |
| | 377,678 |
| | 346,982 |
| Semi-finished steel products | 11,242 |
| | 10,962 |
| | 5,472 |
| Total revenues from external customers | $ | 1,915,399 |
| | $ | 2,534,926 |
| | $ | 2,616,792 |
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Schedule Of Revenues From External Customers by Major Product |
The following revenues from external customers are presented based on the sales destination and by major product for the years ended August 31 (in thousands): | | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Revenues based on sales destination: | | | | | | Foreign | $ | 984,910 |
| | $ | 1,472,023 |
| | $ | 1,657,200 |
| Domestic | 930,489 |
| | 1,062,903 |
| | 959,592 |
| Total revenues from external customers | $ | 1,915,399 |
| | $ | 2,534,926 |
| | $ | 2,616,792 |
| | | | | | | Major product information: | | | | | | Ferrous scrap metal | $ | 922,291 |
| | $ | 1,440,582 |
| | $ | 1,550,995 |
| Nonferrous scrap metal | 488,036 |
| | 556,139 |
| | 562,968 |
| Retail and other | 130,035 |
| | 149,565 |
| | 150,375 |
| Finished steel products | 363,795 |
| | 377,678 |
| | 346,982 |
| Semi-finished steel products | 11,242 |
| | 10,962 |
| | 5,472 |
| Total revenues from external customers | $ | 1,915,399 |
| | $ | 2,534,926 |
| | $ | 2,616,792 |
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Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area |
The schedule below identifies those foreign countries in which the Company’s sales exceeded 10% of consolidated revenues in any of the last three years ended August 31 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | 2015 | | % of Revenue | | 2014 | | % of Revenue | | 2013 | | % of Revenue | China | $ | 240,279 |
| | 12.5 | % | | $ | 390,634 |
| | 15.4 | % | | $ | 562,558 |
| | 21.5 | % | Turkey | 225,040 |
| | 11.7 | % | | 261,558 |
| | 10.3 | % | | 341,418 |
| | 13.0 | % | South Korea(1) | N/A |
| | N/A |
| | 265,912 |
| | 10.5 | % | | N/A |
| | N/A |
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_____________________________ | | (1) | N/A - sales were less than the 10% threshold and, as such, disclosure is not applicable. |
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