Changes in Equity (Tables)

6 Months Ended

Nov. 30, 2023

Equity [Abstract]

Summary of Changes in Equity by Component and in Total

The following tables summarize the changes in equity by component and in total for the periods presented:

	Controlling Interest
	Net			Accumulated
	Worthington			Other
	Enterprises,			Comprehensive						Non-
	Inc.			Income (Loss),						controlling
(In millions)	Investment			Net of Tax			Total			Interests			Total
Balance at May 31, 2023	$	1,031.1		$	(2.1	)	$	1,029.0		$	125.6		$	1,154.6
Net earnings		58.5			-			58.5			3.6			62.1
Other comprehensive loss		-			(8.2	)		(8.2	)		-			(8.2	)
Transfers from Worthington Enterprises, Inc., net		40.8			-			40.8			-			40.8
Dividends to noncontrolling interests		-			-			-			(1.9	)		(1.9	)
Balance at August 31, 2023	$	1,130.4		$	(10.3	)	$	1,120.1		$	127.3		$	1,247.4
Net earnings (loss)		(6.0	)		-			(6.0	)		3.9			(2.1	)
Other comprehensive income		-			11.1			11.1			-			11.1
Transfers from Worthington Enterprises, Inc., net		(84.9	)		-			(84.9	)		-			(84.9	)
Dividends to noncontrolling interests		-			-			-			-			-
Balance at November 30, 2023	$	1,039.5		$	0.8		$	1,040.3		$	131.2		$	1,171.5

	Controlling Interest
	Net			Accumulated
	Worthington			Other
	Enterprises,			Comprehensive						Non-
	Inc.			Income (Loss),						controlling
(In millions)	Investment			Net of Tax			Total			Interests			Total
Balance at May 31, 2022	$	1,131.3		$	1.8		$	1,133.1		$	133.2		$	1,266.3
Net earnings		30.1			-			30.1			1.2			31.3
Other comprehensive loss		-			(13.3	)		(13.3	)		-			(13.3	)
Transfers from Worthington Enterprises, Inc., net		38.9			-			38.9			-			38.9
Dividends to noncontrolling interests		-			-			-			-			-
Balance at August 31, 2022	$	1,200.3		$	(11.5	)	$	1,188.8		$	134.4		$	1,323.2
Net earnings (loss)		(15.8	)		-			(15.8	)		3.3			(12.5	)
Other comprehensive loss		-			(3.5	)		(3.5	)		-			(3.5	)
Transfers from Worthington Enterprises, Inc., net		(72.2	)		-			(72.2	)		-			(72.2	)
Dividends to noncontrolling interests		-			-			-			(11.8	)		(11.8	)
Balance at November 30, 2022	$	1,112.3		$	(15.0	)	$	1,097.3		$	125.9		$	1,223.2

Summary of Changes in Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated other comprehensive income ("AOCI") for the periods presented:

									Accumulated
	Foreign			Pension					Other
	Currency			Liability		Cash Flow			Comprehensive
(In millions)	Translation			Adjustment		Hedges			Income (Loss)
Balance at May 31, 2023	$	(10.6	)	$	6.0	$	2.5		$	(2.1	)
Other comprehensive income (loss) before reclassifications		(0.3	)		-		11.4			11.1
Reclassification adjustments to net earnings (a)		-			-		(7.2	)		(7.2	)
Income tax effect		-			-		(1.0	)		(1.0	)
Balance at November 30, 2023	$	(10.9	)	$	6.0	$	5.7		$	0.8

									Accumulated
	Foreign			Pension					Other
	Currency			Liability		Cash Flow			Comprehensive
(In millions)	Translation			Adjustment		Hedges			Income (Loss)
Balance at May 31, 2022	$	(3.8	)	$	6.6	$	(1.0	)	$	1.8
Other comprehensive loss before reclassifications		(6.0	)		-		(21.2	)		(27.2	)
Reclassification adjustments to net earnings (a)		-			-		7.1			7.1
Income tax effect		-			-		3.3			3.3
Balance at November 30, 2022	$	(9.8	)	$	6.6	$	(11.8	)	$	(15.0	)

The combined statement of earnings classification of amounts reclassified to net income include:

(a)Cash flow hedges – See the disclosure in “Note N – Derivative Financial Instruments and Hedging Activities.”