Segment Operations (Tables)

9 Months Ended

Feb. 28, 2022

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 February 28, 2022
(in thousands)	Steel Processing			Consumer Products			Building Products			Sustainable Energy Solutions			Other			Consolidated
Net sales	$	1,052,562		$	161,692		$	132,944		$	31,037		$	-		$	1,378,235
Impairment of long-lived assets		3,076			-			-			-			-			3,076
Restructuring and other expense (income), net ⁽¹⁾		114			-			(35	)		-			(583	)		(504	)
Miscellaneous income (loss), net		(12	)		(39	)		(3	)		(38	)		485			393
Equity in net income of unconsolidated affiliates		4,692			-			39,978			-			2,796			47,466
Adjusted earnings (loss) before interest and taxes		7,116			26,674			49,570			(2,801	)		4,039			84,598

	Three Months Ended February 28, 2021
(in thousands)	Steel Processing			Consumer Products			Building Products		Sustainable Energy Solutions		Other			Consolidated
Net sales	$	504,477		$	115,071		$	96,256	$	32,103	$	11,202		$	759,109
Restructuring and other expense (income), net ⁽¹⁾		(42	)		-			-		-		28,254			28,212
Incremental expenses related to Nikola gains		-			-			-		-		(781	)		(781	)
Miscellaneous income (loss), net		(196	)		(132	)		181		42		644			539
Equity in net income of unconsolidated affiliates		4,223			-			25,379		-		2,072			31,674
Adjusted earnings before interest and taxes		61,789			14,594			27,340		131		492			104,346

⁽¹⁾Includes the noncontrolling interest portion of restructuring (charges) gains of $(1,139) and $3 for the three months ended February 28, 2022 and 2021, respectively

	Nine Months Ended February 28, 2022
(in thousands)	Steel Processing			Consumer Products		Building Products			Sustainable Energy Solutions			Other			Consolidated
Net sales	$	2,813,214		$	450,268	$	368,813		$	89,619		$	-		$	3,721,914
Impairment of long-lived assets		3,076			-		-			-			-			3,076
Restructuring and other income, net ⁽²⁾		(12,199	)		-		(35	)		(143	)		(2,405	)		(14,782	)
Miscellaneous income (loss), net		35			169		141			(16	)		1,734			2,063
Equity in net income of unconsolidated affiliates		22,864			-		132,865			-			4,871			160,600
Adjusted earnings (loss) before interest and taxes		186,734			64,813		153,042			(4,561	)		5,517			405,545

	Nine Months Ended February 28, 2021
(in thousands)	Steel Processing			Consumer Products			Building Products		Sustainable Energy Solutions		Other			Consolidated
Net sales	$	1,404,220		$	366,205		$	278,349	$	93,982	$	50,354		$	2,193,110
Impairment of long-lived assets ⁽²⁾		-			506			1,423		-		11,810			13,739
Restructuring and other expense (income), net ⁽²⁾		1,804			120			-		-		35,732			37,656
Incremental expenses related to Nikola gains		-			-			-		-		53,300			53,300
Miscellaneous income (loss), net		(244	)		(249	)		89		194		1,576			1,366
Equity in net income of unconsolidated affiliates		7,393			-			70,622		-		2,924			80,939
Adjusted earnings (loss) before interest and taxes		110,345			55,934			76,675		1,106		(12,968	)		231,092

⁽²⁾ Includes the noncontrolling interest portion of impairment and restructuring (charges) gains of $4,888 and $(255) for the nine months ended February 28, 2022 and 2021, respectively

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

	February 28,		May 31,
	2022		2021
Total assets
Steel Processing	$	2,245,260	$	1,359,598
Consumer Products		563,203		541,028
Building Products		636,254		664,113
Sustainable Energy Solutions		119,073		169,550
Other		174,370		638,956
Total assets	$	3,738,160	$	3,373,245