Segment Data (Tables)

12 Months Ended

May 31, 2024

Segment Reporting [Abstract]

Financial Information for Reportable Segments

The following tables present summarized financial information for our reportable segments for the past three fiscal years. A reconciliation from net earnings before income taxes from continuing operations to the non-GAAP financial measure of adjusted EBITDA from continuing operations is provided directly following the summarized information below.

	2024
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	495,259	$	618,973	$	1,114,232	$	131,471		$	1,245,703
Capital expenditures		14,447		20,945		35,392		12,029			47,421
Depreciation and amortization		16,510		23,806		40,316		8,347			48,663
Impairment of long-lived assets		-		772		772		32,203			32,975
Restructuring and other expense, net		-		80		80		29,247			29,327
Separation costs		-		-		-		12,705			12,705
Equity income		-		163,126		163,126		4,590			167,716
Adjusted EBITDA from continuing operations		69,598		210,128		279,726		(28,727	)		250,999

	2023
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	555,309	$	717,069	$	1,272,378	$	146,118		$	1,418,496
Capital expenditures		8,612		22,843		31,455		7,228			38,683
Depreciation and amortization		16,210		22,127		38,337		7,638			45,975
Impairment of long-lived assets		-		484		484		-			484
Restructuring and other expense (income), net		213		597		810		(1,177	)		(367	)
Separation costs		-		-		-		6,534			6,534
Equity income		-		166,427		166,427		(13,165	)		153,262
Adjusted EBITDA from continuing operations		97,370		222,197		319,567		(13,542	)		306,025

	2022
						Total			Unallocated
	Consumer		Building			Reportable			Corporate and
	Products		Products			Segments			Other			Total
Net sales	$	504,870	$	673,365		$	1,178,235		$	130,954		$	1,309,189
Capital expenditures		7,388		37,051			44,439			13,719			58,158
Depreciation and amortization		13,356		20,743			34,099			8,546			42,645
Restructuring and other income, net		-		(35	)		(35	)		(2,581	)		(2,616	)
Equity income		-		176,498			176,498			7,357			183,855
Adjusted EBITDA from continuing operations		109,282		238,636			347,918			(12,894	)		335,024

Total assets for each of our reportable segments as of the end of the past two fiscal years were as follows:

	May 31,		May 31,
	2024		2023
Consumer Products	$	557,826	$	544,911
Building Products		672,723		706,169
Total reportable segments		1,230,549		1,251,080
Unallocated Corporate and Other		408,088		639,042
Total assets of continuing operations	$	1,638,637	$	1,890,122

Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations

The following table presents a reconciliation from earnings before income taxes to adjusted EBITDA from continuing operations for the past three fiscal years:

	2024			2023			2022
Earnings before income taxes (EBIT)	$	74,007		$	160,286		$	210,649
Less: net loss attributable to noncontrolling interest		(263	)		-			-
Net earnings before income taxes attributable to controlling interest		74,270			160,286			210,649
Interest expense, net		1,587			18,298			23,852
EBIT (subtotal)		75,857			178,584			234,501
Corporate costs eliminated at Separation		19,343			41,479			48,020
Impairment of goodwill and long-lived assets		32,975			484			-
Restructuring and other expense (income), net		29,327			(367	)		(2,616	)
Separation costs		12,705			6,534			-
Non-cash charges in miscellaneous expense		19,180			4,774			-
Loss on investment in ArtiFlex		-			16,059			-
Loss on extinguishment of debt		1,534			-			-
Net gain on sale of assets in equity income		(2,780	)		(2,063	)		-
Pension settlement charge in equity income		1,040			-			-
Adjusted EBIT (subtotal)		189,181			245,484			279,905
Depreciation and amortization		48,663			45,975			42,645
Stock-based compensation		13,155			14,566			12,474
Adjusted EBITDA from continuing operations	$	250,999		$	306,025		$	335,024

Net Sales by Geographic Region

The following table presents net sales by geographic region for the past three fiscal years:

	2024		2023		2022
North America	$	988,028	$	1,140,288	$	1,066,329
International		257,675		278,208		242,860
Total	$	1,245,703	$	1,418,496	$	1,309,189

Property, Plant and Equipment, Net by Geographic Region

The following table presents property, plant and equipment, net, by geographic region as of the end of the past two fiscal years:

	2024		2023
North America	$	207,772	$	191,356
International		19,434		65,059
Total	$	227,206	$	256,415