Segment Operations (Tables)

6 Months Ended

Nov. 30, 2021

Schedule of Equity Income from Unconsolidated Joint Ventures Included in the Measurement of Segment Profit

For the periods presented, equity income from our unconsolidated joint ventures is included in the measurement of segment profit as shown in the table below.

Unconsolidated Joint Ventures Included in Segment Profit
Steel Processing	Consumer Products	Building Products	Sustainable Energy Solutions	Other
Serviacero Worthington	N/A	WAVE	N/A	Cabs
		ClarkDietrich		ArtiFlex

Financial Information for Reportable Segments

The following table presents summarized financial information for our reportable segments for the periods indicated.

	Three Months Ended November 30, 2021
(in thousands)	Steel Processing			Consumer Products		Building Products		Sustainable Energy Solutions		Other			Consolidated
Net sales	$	937,842		$	140,793	$	121,125	$	33,101	$	-		$	1,232,861
Restructuring and other income, net ⁽¹⁾		(182	)		-		-		-		(1,822	)		(2,004	)
Miscellaneous income, net		17			159		218		82		564			1,040
Equity in net income of unconsolidated affiliates		8,823			-		49,894		-		1,501			60,218
Adjusted earnings before interest and taxes		71,925			17,584		54,718		796		1,893			146,916

	Three Months Ended November 30, 2020
(in thousands)	Steel Processing			Consumer Products			Building Products		Sustainable Energy Solutions		Other			Consolidated
Net sales	$	468,723		$	117,513		$	93,989	$	34,023	$	16,844		$	731,092
Impairment of long-lived assets		-			-			-		-		3,815			3,815
Restructuring and other expense, net ⁽¹⁾		375			120			-		-		7,101			7,596
Incremental expenses related to Nikola gains		-			-			-		-		4,570			4,570
Miscellaneous income (loss), net		(5	)		(96	)		70		69		338			376
Equity in net income of unconsolidated affiliates		1,861			-			22,692		-		1,078			25,631
Adjusted earnings (loss) before interest and taxes		34,381			17,432			25,964		1,534		(5,633	)		73,678

⁽¹⁾Includes the noncontrolling interest portion of restructuring (charges) gains of $81 and $(142) for the three months ended November 30, 2021 and 2020, respectively

	Six Months Ended November 30, 2021
(in thousands)	Steel Processing			Consumer Products		Building Products		Sustainable Energy Solutions			Other			Consolidated
Net sales	$	1,760,652		$	288,576	$	235,868	$	58,583		$	-		$	2,343,679
Restructuring and other income, net ⁽²⁾		(12,313	)		-		-		(143	)		(1,822	)		(14,278	)
Miscellaneous income, net		47			209		144		22			1,248			1,670
Equity in net income of unconsolidated affiliates		18,172			-		92,887		-			2,075			113,134
Adjusted earnings (loss) before interest and taxes		179,617			38,140		103,471		(1,760	)		1,479			320,947

	Six Months Ended November 30, 2020
(in thousands)	Steel Processing			Consumer Products			Building Products			Sustainable Energy Solutions		Other			Consolidated
Net sales	$	899,743		$	251,135		$	182,092		$	61,880	$	39,151		$	1,434,001
Impairment of long-lived assets		-			506			1,423			-		11,810			13,739
Restructuring and other expense, net ⁽²⁾		1,846			120			-			-		7,478			9,444
Incremental expenses related to Nikola gains		-			-			-			-		54,081			54,081
Miscellaneous income (loss), net		(48	)		(117	)		(92	)		151		933			827
Equity in net income of unconsolidated affiliates		3,170			-			45,243			-		852			49,265
Adjusted earnings (loss) before interest and taxes		48,557			41,341			49,337			973		(13,461	)		126,747

⁽²⁾ Includes the noncontrolling interest portion of restructuring (charges) gains of $6,027 and $(257) for the six months ended November 30, 2021 and 2020, respectively

Total assets for each of our reportable segments as of the dates indicated were as follows:

	November 30,		May 31,
	2021		2021
Total assets
Steel Processing	$	1,858,313	$	1,359,598
Consumer Products		547,132		541,028
Building Products		615,755		664,113
Sustainable Energy Solutions		118,834		169,550
Other		377,598		638,956
Total assets	$	3,517,632	$	3,373,245