Investment in Unconsolidated Affiliate (Tables)

6 Months Ended

Nov. 30, 2025

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)	2025		2025
Cash and cash equivalents	$	31.6	$	16.0
Other current assets		213.6		219.4
Noncurrent assets		60.5		62.2
Total assets	$	305.7	$	297.6
Current liabilities		34.5		40.5
Other noncurrent liabilities		4.8		5.0
Equity		266.4		252.1
Total liabilities and equity	$	305.7	$	297.6

	Three Months Ended					Six Months Ended
	November 30,		November 30,			November 30,		November 30,
(In millions)	2025		2024			2025		2024
Net sales	$	136.7	$	138.7		$	270.8	$	287.2
Gross margin		18.2		9.6			36.8		25.2
Operating income		14.5		5.5			28.9		17.2
Depreciation and amortization		1.1		1.2			2.0		2.3
Interest expense		-		-			-		-
Income tax expense		0.7		5.8			2.7		12.6
Net earnings (loss)		13.6		(1.7	)		26.3		0.9

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)	2025		2024			2025		2024
Equity in net income (loss) of unconsolidated affiliate	$	6.8	$	(0.9	)	$	13.2	$	0.4