v3.22.4
BUSINESS SEGMENTS (Tables)
 3 Months Ended
Nov. 30, 2022
Segment Reporting [Abstract]  
Summary of certain financial information from continuing operations by reportable segment
The following is a summary of certain financial information by reportable segment and Corporate and Other:
Three Months Ended November 30, 2022
(in thousands)North AmericaEuropeCorporate and OtherTotal
Net sales$1,816,899 $406,513 $3,901 $2,227,313 
Adjusted EBITDA377,956 64,505 (39,725)402,736 
Total assets at November 30, 20224,568,633 1,171,324 534,010 6,273,967 
Three Months Ended November 30, 2021
(in thousands)North AmericaEuropeCorporate and OtherTotal
Net sales$1,653,622 $329,056 $(877)$1,981,801 
Adjusted EBITDA268,524 79,832 (34,334)314,022 
Total assets at August 31, 20224,467,314 1,056,101 713,612 6,237,027 
Reconciliations of earnings from continuing operations to adjusted operating profit The following table presents a reconciliation of net earnings to adjusted EBITDA:
 Three Months Ended November 30,
(in thousands)20222021
Net earnings$261,774 $232,889 
Interest expense13,045 11,035 
Income taxes76,725 28,872 
Depreciation and amortization51,183 41,226 
Asset impairments9 — 
Adjusted EBITDA$402,736 $314,022 
Net sales by major product
The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product:
Three Months Ended November 30, 2022
(in thousands)North AmericaEuropeCorporate and OtherTotal
Major product:
Raw materials$292,320 $4,867 $— $297,187 
Steel products705,462 311,936 — 1,017,398 
Downstream products641,934 59,582 — 701,516 
Construction-related solutions142,372 19,446 — 161,818 
Other33,160 10,118 6,116 49,394 
Net sales from external customers1,815,248 405,949 6,116 2,227,313 
Intersegment net sales, eliminated on consolidation1,651 564 (2,215)— 
Net sales$1,816,899 $406,513 $3,901 $2,227,313 
Three Months Ended November 30, 2021
(in thousands)North AmericaEuropeCorporate and OtherTotal
Major product:
Raw materials$353,092 $6,960 $— $360,052 
Steel products675,042 243,145 — 918,187 
Downstream products514,396 70,072 — 584,468 
Construction-related solutions82,499 — — 82,499 
Other28,593 8,385 (383)36,595 
Net sales from external customers1,653,622 328,562 (383)1,981,801 
Intersegment net sales, eliminated on consolidation— 494 (494)— 
Net sales$1,653,622 $329,056 $(877)$1,981,801