Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2016	Aug. 31, 2015
Current assets:
Cash and cash equivalents	$ 7,018	$ 22,755
Accounts receivable, net of allowance for doubtful accounts of $2,340 and $2,496	100,001	111,492
Inventories	156,946	156,532
Deferred income taxes	0	2,792
Refundable income taxes	6,682	7,263
Prepaid expenses and other current assets	19,087	21,531
Total current assets	289,734	322,365
Property, plant and equipment, net of accumulated depreciation of $715,064 and $679,035	387,273	427,554
Investments in joint ventures	12,793	15,320
Goodwill	166,895	175,676
Intangibles, net of accumulated amortization of $3,818 and $6,918	5,145	6,353
Other assets	14,603	15,031
Total assets	876,443	962,299
Current liabilities:
Short-term borrowings	648	584
Accounts payable	56,878	57,105
Accrued payroll and related liabilities	22,602	25,478
Environmental liabilities	1,721	924
Accrued income taxes	0	148
Other accrued liabilities	31,441	36,207
Total current liabilities	113,290	120,446
Deferred income taxes	17,028	19,138
Long-term debt, net of current maturities	202,070	227,572
Environmental liabilities, net of current portion	44,551	45,869
Other long-term liabilities	10,574	10,723
Total liabilities	$ 387,513	$ 423,748
Commitments and contingencies (Note 6)
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Preferred stock – 20,000 shares $1.00 par value authorized, none issued	$ 0	$ 0
Additional paid-in capital	27,451	26,211
Retained earnings	469,120	520,066
Accumulated other comprehensive loss	(38,528)	(38,522)
Total SSI shareholders’ equity	484,799	534,535
Noncontrolling interests	4,131	4,016
Total equity	488,930	538,551
Total liabilities and equity	876,443	962,299
Class A Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	26,450	26,474
Class B Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	$ 306	$ 306