Segment Information (Tables)

12 Months Ended

Aug. 31, 2019

The following is a summary of the Company’s total assets as of August 31 (in thousands):

		2019			2018
Total assets:
Auto and Metals Recycling⁽¹⁾	$	1,561,267		$	1,485,626
Cascade Steel and Scrap		769,930			740,967
Total segment assets		2,331,197			2,226,593
Corporate and eliminations⁽²⁾		(1,170,451	)		(1,121,776	)
Total assets	$	1,160,746		$	1,104,817
Property, plant and equipment, net⁽³⁾	$	456,400		$	415,711

(1)	AMR total assets include $3 million and $4 million as of August 31, 2019 and 2018, respectively, for investments in joint ventures. CSS total assets include $7 million and $8 million as of August 31, 2019 and 2018, respectively, for investment in joint ventures.

(2)	The substantial majority of Corporate and eliminations total assets consist of Corporate intercompany payables to the Company’s operating segments and intercompany eliminations.

(3)	Property, plant and equipment, net includes $14 million and $15 million as of August 31, 2019 and 2018, respectively, at the Company’s Canadian locations.

Reconciliation of Operating Income from Segments to Consolidated

The table below illustrates the Company’s results from continuing operations by reportable segment for the years ended August 31 (in thousands):

		2019			2018			2017
AMR:
Revenues	$	1,684,977		$	1,908,966		$	1,363,618
Less: Intersegment revenues		(11,612	)		(24,892	)		(15,647	)
AMR external customer revenues		1,673,365			1,884,074			1,347,971
CSS:
Revenues		459,416			480,641			339,620
Total revenues	$	2,132,781		$	2,364,715		$	1,687,591
Depreciation and amortization:
AMR	$	38,816		$	35,564		$	34,853
CSS		11,781			11,724			12,525
Segment depreciation and amortization		50,597			47,288			47,378
Corporate		2,739			2,384			2,462
Total depreciation and amortization	$	53,336		$	49,672		$	49,840
Capital expenditures:
AMR	$	78,706		$	67,099		$	34,575
CSS		15,345			9,600			10,224
Segment capital expenditures		94,051			76,699			44,799
Corporate		562			927			141
Total capital expenditures	$	94,613		$	77,626		$	44,940
Reconciliation of the Company’s segment operating income to income from continuing operations before income taxes:
AMR⁽¹⁾	$	95,991		$	169,120		$	91,405
CSS⁽²⁾		31,951			38,286			5,275
Segment operating income		127,942			207,406			96,680
Restructuring charges and other exit-related activities		(365	)		661			109
Corporate and eliminations		(43,712	)		(59,079	)		(40,776	)
Operating income		83,865			148,988			56,013
Interest expense		(8,266	)		(8,983	)		(8,081	)
Other income, net		641			1,848			758
Income from continuing operations before income taxes	$	76,240		$	141,853		$	48,690

(1)	AMR operating income includes less than $1 million, less than $(1) million, and $2 million in income (loss) from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

(2)	CSS operating income includes $1 million, $2 million, and $1 million in income from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

Schedule of Revenues from External Customers By Major Product and Destination

The following revenues from external customers are presented by major product and based on the sales destination for the years ended August 31 (in thousands):

	2019		2018		2017
Major product information:
Ferrous revenues	$	1,164,719	$	1,328,447	$	855,161
Nonferrous revenues		468,023		529,466		425,989
Steel revenues⁽¹⁾		367,956		367,560		280,767
Retail and other revenues		132,083		139,242		125,674
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591
Revenues based on sales destination:
Foreign	$	1,141,077	$	1,354,460	$	894,265
Domestic		991,704		1,010,255		793,326
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591

(1)	Steel revenues include primarily sales of finished steel products, semi-finished goods (billets) and manufacturing scrap.

(2)	In fiscal 2019, the Company modified its categories of revenues from external customers by major product. The major product revenues for fiscal 2018 and 2017 have been revised to conform to the current presentation, with such revisions being immaterial to each year.

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

The schedule below identifies those foreign countries to which the Company’s sales exceeded 10% of consolidated revenues in any of the last three years ended August 31 (in thousands):

2019

% of

Revenue

2018

% of

Revenue

2017

% of

Revenue

Turkey⁽¹⁾

N/A

262,835

N/A

China⁽¹⁾

N/A

255,097

216,231

(1)	^{N/A = Sales were less than the 10% threshold.}