Investment in Nikola	9 Months Ended
Feb. 28, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investment in Nikola	NOTE C – Investment in Nikola On June 3, 2020 (the “Effective Date”), Nikola Corporation (“Nikola”) became a public company through a reverse merger with a subsidiary of VectoIQ Acquisition Corporation, a NASDAQ listed publicly traded company. At the Effective Date, we owned 19,048,020 shares of Nikola common stock, of which we had sold or contributed a total of 12,000,000 shares through November 30, 2020. During the third quarter of fiscal 2021, we sold the remaining 7,048,020 shares of Nikola common stock for gross proceeds of $146,590,000, resulting in a pre-tax gain of $2,740,000. In addition, during the third quarter of fiscal 2021, we adjusted the accruals for incremental Nikola related expenses primarily due to the impact of stronger operating performance exceeding threshold levels for payouts under the Company’s incentive plans. For the year we have recognized pre-tax gains of $655,102,000 from our investment in Nikola, which is comprised of $634,449,000 in cash proceeds and $20,653,000 in value from Nikola shares contributed to the Worthington Industries Foundation to establish a charitable endowment focused on the communities in which the Company operates. We also recognized $53,300,000 of incremental expenses in operating income related to the Nikola gains consisting of $32,647,000 for discretionary profit sharing and bonus expenses and $20,653,000 for the charitable contribution of Nikola shares.

Investment in Nikola

9 Months Ended

Feb. 28, 2021

Equity Method Investments And Joint Ventures [Abstract]

NOTE C – Investment in Nikola

On June 3, 2020 (the “Effective Date”), Nikola Corporation (“Nikola”) became a public company through a reverse merger with a subsidiary of VectoIQ Acquisition Corporation, a NASDAQ listed publicly traded company. At the Effective Date, we owned 19,048,020 shares of Nikola common stock, of which we had sold or contributed a total of 12,000,000 shares through November 30, 2020. During the third quarter of fiscal 2021, we sold the remaining 7,048,020 shares of Nikola common stock for gross proceeds of $146,590,000, resulting in a pre-tax gain of $2,740,000. In addition, during the third quarter of fiscal 2021, we adjusted the accruals

for incremental Nikola related expenses primarily due to the impact of stronger operating performance exceeding threshold levels for payouts under the Company’s incentive plans.

For the year we have recognized pre-tax gains of $655,102,000 from our investment in Nikola, which is comprised of $634,449,000 in cash proceeds and $20,653,000 in value from Nikola shares contributed to the Worthington Industries Foundation to establish a charitable endowment focused on the communities in which the Company operates. We also recognized $53,300,000 of incremental expenses in operating income related to the Nikola gains consisting of $32,647,000 for discretionary profit sharing and bonus expenses and $20,653,000 for the charitable contribution of Nikola shares.