Condensed Consolidated Balance Sheets - USD ($)	Nov. 30, 2016	Aug. 31, 2016
Current assets:
Cash and cash equivalents	$ 8,100,000	$ 26,819,000
Accounts receivable, net of allowance for doubtful accounts of $2,331 and $2,315	112,665,000	113,952,000
Inventories	148,094,000	132,972,000
Refundable income taxes	1,452,000	1,254,000
Prepaid expenses and other current assets	23,967,000	24,809,000
Total current assets	294,278,000	299,806,000
Property, plant and equipment, net of accumulated depreciation of $726,287 and $714,965	385,750,000	392,820,000
Investments in joint ventures	13,766,000	13,616,000
Goodwill	166,432,000	166,847,000
Intangibles, net of accumulated amortization of $3,486 and $3,457	4,775,000	4,931,000
Other assets	13,893,000	13,409,000
Total assets	878,894,000	891,429,000
Current liabilities:
Short-term borrowings	701,000	8,374,000
Accounts payable	68,867,000	58,439,000
Accrued payroll and related liabilities	19,017,000	29,116,000
Environmental liabilities	2,038,000	1,967,000
Other accrued liabilities	35,287,000	35,758,000
Total current liabilities	125,910,000	133,654,000
Deferred income taxes	16,856,000	16,682,000
Long-term debt, net of current maturities	186,944,000	184,144,000
Environmental liabilities, net of current portion	44,210,000	44,383,000
Other long-term liabilities	10,907,000	11,134,000
Total liabilities	384,827,000	389,997,000
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	30,841,000	30,948,000
Retained earnings	473,630,000	480,100,000
Accumulated other comprehensive loss	(41,214,000)	(40,115,000)
Total SSI shareholders’ equity	490,260,000	497,721,000
Noncontrolling interests	3,807,000	3,711,000
Total equity	494,067,000	501,432,000
Total liabilities and equity	878,894,000	891,429,000
Class A Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	26,803,000	26,482,000
Class B Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	$ 200,000	$ 306,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.