Investment in Unconsolidated Affiliate (Tables)

6 Months Ended

Nov. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

Financial Information and Net Earnings

The following tables summarize certain financial information of Serviacero Worthington as of the dates, and for the periods, presented:

	November 30,		May 31,
(In millions)	2024		2024
Cash and cash equivalents	$	20.8	$	5.7
Other current assets		249.3		274.7
Noncurrent assets		58.4		58.3
Total assets	$	328.5	$	338.7
Current liabilities		53.7		64.7
Other noncurrent liabilities		5.1		5.2
Equity		269.7		268.8
Total liabilities and equity	$	328.5	$	338.7

	Three Months Ended					Six Months Ended
	November 30,			November 30,		November 30,		November 30,
(In millions)	2024			2023		2024		2023
Net sales	$	138.7		$	163.4	$	287.2	$	315.3
Gross margin		9.6			18.6		25.2		39.9
Operating income		5.5			15.2		17.2		33.1
Depreciation and amortization		1.2			1.1		2.3		2.1
Interest expense		—			—		—		—
Income tax expense		5.8			6.3		12.6		7.0
Net earnings (loss)		(1.7	)		7.6		0.9		25.5

The following table presents the net earnings of Serviacero Worthington attributable to the Company for the periods presented:

	Three Months Ended					Six Months Ended
	November 30,			November 30,		November 30,		November 30,
(In millions)	2024			2023		2024		2023
Equity in net income (loss) of unconsolidated affiliate	$	(0.9	)	$	3.8	$	0.4	$	12.8