Worthington Industries (WOR) 10-Q 9 Jan 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Nov. 30, 2022	Dec. 30, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON INDUSTRIES, INC
Entity Central Index Key	0000108516
Current Fiscal Year End Date	--05-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	OH
Entity Shell Company	false
Entity File Number	001-08399
Entity Tax Identification Number	31-1189815
Entity Address, Address Line One	200 Old Wilson Bridge Road
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43085
City Area Code	614
Local Phone Number	438-3210
Entity Common Stock, Shares Outstanding		49,707,649
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2022	May 31, 2022
Current assets:
Cash and cash equivalents	$ 129,596	$ 34,485
Receivables, less allowances of $2,679 and $1,292 at November 30, 2022 and May 31, 2022, respectively	694,668	857,493
Inventories:
Raw materials	304,692	323,609
Work in process	159,772	255,019
Finished products	190,160	180,512
Total inventories	654,624	759,140
Income taxes receivable	19,834	20,556
Assets held for sale	5,191	20,318
Prepaid expenses and other current assets	98,873	93,661
Total current assets	1,602,786	1,785,653
Investments in unconsolidated affiliates	240,859	327,381
Operating lease assets	103,488	98,769
Goodwill	412,971	401,469
Other intangible assets, net of accumulated amortization of $102,561 and $93,973 at November 30, 2022 and May 31, 2022, respectively	322,934	299,017
Other assets	25,439	34,394
Property, plant and equipment:
Land	49,644	51,483
Buildings and improvements	302,999	303,269
Machinery and equipment	1,223,841	1,196,806
Construction in progress	60,673	59,363
Total property, plant and equipment	1,637,157	1,610,921
Less: accumulated depreciation	954,974	914,581
Total property, plant and equipment, net	682,183	696,340
Total assets	3,390,660	3,643,023
Current liabilities:
Accounts payable	481,273	668,438
Short-term borrowings	4,935	47,997
Accrued compensation, contributions to employee benefit plans and related taxes	86,998	117,530
Dividends payable	17,663	15,988
Other accrued items	58,046	70,125
Current operating lease liabilities	11,719	11,618
Income taxes payable		300
Current maturities of long-term debt	257	265
Total current liabilities	660,891	932,261
Other liabilities	115,688	115,991
Distributions in excess of investment in unconsolidated affiliate	91,643	81,149
Long-term debt	693,453	696,345
Noncurrent operating lease liabilities	93,513	88,183
Deferred income taxes, net	96,180	115,132
Total liabilities	1,751,368	2,029,061
Shareholders' equity - controlling interest	1,513,393	1,480,752
Noncontrolling interests	125,899	133,210
Total equity	1,639,292	1,613,962
Total liabilities and equity	$ 3,390,660	$ 3,643,023

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2022	May 31, 2022
Statement of Financial Position [Abstract]
Receivables, allowances	$ 2,679	$ 1,292
Other intangible assets, accumulated amortization	$ 102,561	$ 93,973

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,175,541,000	$ 1,232,861,000	$ 2,584,206,000	$ 2,343,679,000
Cost of goods sold	1,069,778,000	1,048,270,000	2,309,069,000	1,939,714,000
Gross margin	105,763,000	184,591,000	275,137,000	403,965,000
Selling, general and administrative expense	107,813,000	96,130,000	211,261,000	191,981,000
Impairment of long-lived assets			312,000
Restructuring and other income, net	(4,282,000)	(2,004,000)	(5,382,000)	(14,278,000)
Separation costs	9,246,000		9,246,000
Operating income (loss)	(7,014,000)	90,465,000	59,700,000	226,262,000
Other income (expense):
Miscellaneous income (expense), net	1,405,000	1,040,000	(3,681,000)	1,670,000
Interest expense	(7,612,000)	(7,312,000)	(16,210,000)	(15,030,000)
Equity in net income of unconsolidated affiliates	36,857,000	60,218,000	68,569,000	113,134,000
Earnings before income taxes	23,636,000	144,411,000	108,378,000	326,036,000
Income tax expense	4,131,000	31,226,000	23,629,000	71,376,000
Net earnings	19,505,000	113,185,000	84,749,000	254,660,000
Net earnings attributable to noncontrolling interests	3,287,000	2,884,000	4,449,000	11,868,000
Net earnings attributable to controlling interest	$ 16,218,000	$ 110,301,000	$ 80,300,000	$ 242,792,000
Basic
Weighted average common shares outstanding	48,558	50,381	48,518	50,618
Earnings per share attributable to controlling interest	$ 0.33	$ 2.19	$ 1.66	$ 4.80
Diluted
Weighted average common shares outstanding	49,330	51,214	49,293	51,532
Earnings per share attributable to controlling interest	$ 0.33	$ 2.15	$ 1.63	$ 4.71
Common shares outstanding at end of period	48,572	50,334	48,572	50,334
Cash dividends declared per share	$ 0.31	$ 0.28	$ 0.62	$ 0.56

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 19,505	$ 113,185	$ 84,749	$ 254,660
Other comprehensive income (loss)
Foreign currency translation, net of tax	858	(4,872)	(9,243)	(8,847)
Pension liability adjustment, net of tax	(82)		2,857
Cash flow hedges, net of tax	(4,000)	(52,986)	(17,300)	(53,285)
Other comprehensive income (loss)	(3,224)	(57,858)	(23,686)	(62,132)
Comprehensive income	16,281	55,327	61,063	192,528
Comprehensive income attributable to noncontrolling interests	3,287	2,884	4,449	11,868
Comprehensive income attributable to controlling interest	$ 12,994	$ 52,443	$ 56,614	$ 180,660

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Operating activities:
Net earnings	$ 19,505	$ 113,185	$ 84,749	$ 254,660
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation and amortization	28,354	21,090	56,355	43,154
Impairment of long-lived assets			312
Provision for (benefit from) deferred income taxes	(3,617)	1,309	(14,673)	2,675
Bad debt expense	1,098	335	1,440	514
Equity in net income of unconsolidated affiliates, net of distributions	18,352	(31,274)	61,197	(64,492)
Net gain on sale of assets	(4,265)	(496)	(5,034)	(13,202)
Stock-based compensation	4,547	4,248	8,783	7,551
Changes in assets and liabilities, net of impact of acquisitions:
Receivables	119,674	(89,817)	157,093	(121,685)
Inventories	72,293	(97,182)	113,460	(260,864)
Accounts payable	(100,535)	(47,594)	(202,116)	(926)
Accrued compensation and employee benefits	3,336	14,358	(30,532)	(31,819)
Income taxes payable	(7,629)	(22,922)	(300)	12,935
Other operating items, net	(18,172)	15,656	(16,755)	2,583
Net cash provided (used) by operating activities	132,941	(119,104)	213,979	(168,916)
Investing activities:
Investment in property, plant and equipment	(24,490)	(24,234)	(45,967)	(48,159)
Investment in non-marketable equity securities	(140)		(250)
Acquisitions, net of cash acquired		(3,000)	(56,088)	(107,750)
Proceeds from sale of investment in ArtiFlex			36,095
Proceeds from sale of assets, net of selling costs	23,739	5,136	35,494	31,821
Net cash used by investing activities	(891)	(22,098)	(30,716)	(124,088)
Financing activities:
Net repayments of short-term borrowings	(10,619)		(43,062)
Principal payments on long-term obligations	(13)	(10)	(150)	(402)
Payments for issuance of common shares, net of tax withholdings	(649)	(2,694)	(4,115)	(6,785)
Payments to noncontrolling interests	(11,760)	(2,879)	(11,760)	(12,076)
Repurchase of common shares		(12,702)		(73,587)
Dividends paid	(15,181)	(14,565)	(29,065)	(29,263)
Net cash used by financing activities	(38,222)	(32,850)	(88,152)	(122,113)
Increase (decrease) in cash and cash equivalents	93,828	(174,052)	95,111	(415,117)
Cash and cash equivalents at beginning of period	35,768	399,246	34,485	640,311
Cash and cash equivalents at end of period	$ 129,596	$ 225,194	$ 129,596	$ 225,194

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Note A – Basis of Presentation Basis of Presentation The consolidated financial statements include the accounts of Worthington Industries, Inc. and consolidated subsidiaries (collectively, “we,” “our,” “Worthington,” or the “Company”). Investments in unconsolidated affiliates are accounted for using the equity method. Significant intercompany accounts and transactions have been eliminated. We own controlling interests in the following three operating joint ventures: Spartan Steel Coating, L.L.C. (“Spartan”) ( 52 %); TWB Company, L.L.C. (“TWB”) ( 55 %); and Worthington Samuel Coil Processing LLC (“Samuel” or “Samuel joint venture”) ( 63 %). The last remaining manufacturing facility of our Worthington Specialty Processing (“WSP”) joint venture was sold in the second quarter of fiscal 2022. See “Note F – Restructuring and Other Income, Net” for additional information. These joint ventures are consolidated with the equity owned by the other joint venture members shown as “Noncontrolling interests” in our consolidated balance sheets, and the other joint venture members’ portions of net earnings and other comprehensive income (loss) (“OCI”) shown as net earnings or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. Investments in unconsolidated affiliates are accounted for using the equity method. See further discussion of our unconsolidated affiliates in “ Note D – Investments in Unconsolidated Affiliates.” These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments, which are of a normal and recurring nature except those which have been disclosed elsewhere in this Form 10-Q, necessary for a fair presentation of the consolidated financial statements for these interim periods, have been included. Operating results for the three months and the six months ended November 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2023 (“fiscal 2023”). For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended May 31, 2022 (“fiscal 2022”) of Worthington Industries, Inc. (the “2022 Form 10-K”). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Steel Processing Separation On September 29, 2022, the Company announced that the Board of Directors of Worthington Industries, Inc. approved a plan to pursue a separation into two independent, publicly-traded companies – one company is expected to be comprised of the Company’s Steel Processing operating segment, and the other company is expected to be comprised of the Company’s Consumer Products, Building Products and Sustainable Energy Solutions operating segments. The Company plans to effect the separation via a distribution of stock of the Steel Processing business, which is expected to be tax-free to shareholders for U.S. federal income tax purposes. The Separation transaction is expected to be completed by early 2024, but is subject to certain conditions, including, among other things, general market conditions, finalization of the capital structure of the two companies, completion of steps necessary to qualify the Separation as a tax-free transaction, receipt of regulatory approvals and final approval from the Board of Directors of Worthington Industries, Inc. Direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs, are presented separately in our consolidated statements of earnings as “Separation costs”. Separation costs totaled $ 9,246,000 during the three and six months ended November 30, 2022.

Inventory

Inventory	6 Months Ended
	Nov. 30, 2022
Inventory Disclosure [Abstract]
Inventory	Note B – Inventory Due to a decline in steel pricing during the first quarter of fiscal 2023, the net realizable value of our inventory was lower than the cost reflected in our records at August 31, 2022. Accordingly, we recorded a lower of cost or net realizable value adjustment during the first quarter of fiscal 2023 totaling $ 4,488,000 to reflect this lower value. The entire amount of the adjustment was attributed to our Steel Processing operating segment and was recorded in cost of goods sold in the consolidated statement of earnings for the three months ended August 31, 2022. There was no lower of cost or net realizable value adjustment to inventory during the three months ended November 30, 2022.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Nov. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note C – Revenue Recognition The following table summarizes net sales by operating segment and product class for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Steel Processing Direct $ 807,259 $ 900,666 $ 1,809,394 $ 1,688,694 Toll 34,688 37,176 71,433 71,958 Total 841,947 937,842 1,880,827 1,760,652 Consumer Products (1) 153,795 140,793 342,497 288,576 Building Products (1) 141,671 121,125 291,994 235,868 Sustainable Energy Solutions (1) 38,128 33,101 68,888 58,583 Total $ 1,175,541 $ 1,232,861 $ 2,584,206 $ 2,343,679 (1) The products contained within each of these operating segments have similar production processes, require substantially the same raw materials, use similar equipment, and serve similar purposes. Therefore, we believe the products within each of these segments are appropriately combined for purposes of the disclosure requirements prescribed by Accounting Standards Codification (“ASC”) Topic 280 and Topic 606. The following table summarizes the over time revenue for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Steel Processing - toll $ 34,688 $ 37,176 $ 71,433 $ 71,958 The following table summarizes the unbilled receivables at the dates indicated: November 30, May 31, (in thousands) Balance Sheet Classification 2022 2022 Unbilled receivables Receivables $ 3,192 $ 5,001 There were no contract assets at November 30, 2022 or May 31, 2022. We have elected the optional exemption, which allows for the exclusion of the amounts for remaining performance obligations that are a part of contracts with an expected duration of one year or less. As of November 30, 2022 , there were no unsatisfied or partially satisfied performance obligations related to contracts with an expected duration greater than one year.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Nov. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note D – Investments in Unconsolidated Affiliates Investments in affiliated companies that we do not control, either through majority ownership or otherwise, are accounted for using the equity method. At November 30, 2022 , we held noncontrolling investments in the following affiliated companies: Clarkwestern Dietrich Building Systems LLC (“ClarkDietrich”) ( 25 %); Serviacero Planos, S. de R. L. de C.V. (“Serviacero Worthington”) ( 50 %); Taxi Workhorse Holdings, LLC (“Workhorse”) ( 20 %); and Worthington Armstrong Venture (“WAVE”) ( 50 %). On August 3, 2022, the Company sold its 50 % noncontrolling equity interest in ArtiFlex Manufacturing, LLC (“ArtiFlex”) to the unaffiliated joint venture member for approximately $ 42,086,000 , after adjustments for closing debt and final net working capital. Approximately $ 6,000,000 of the total cash proceeds were attributed to real property in Wooster, Ohio, with a net book value of approximately $ 6,300,000 . This real property was owned by Worthington and leased to ArtiFlex prior to closing of the transaction. The Company recognized a pre-tax loss of approximately $ 15,759,000 in equity income related to the sale of its 50 % noncontrolling equity interest portion of the transaction. We received distributions from unconsolidated affiliates totaling $ 129,766,000 during the six months ended November 30, 2022. We have received cumulative distributions from WAVE in excess of our investment balance amounting to $ 91,643,000 , which is shown as a separate liability on our consolidated balance sheet at November 30, 2022. In accordance with the applicable accounting guidance, we have reclassified the negative investment balance to the liabilities section of our consolidated balance sheets. We will continue to record our equity in the net income of WAVE as a debit to the investment account, and if the investment balance becomes positive, it will again be shown as an asset on our consolidated balance sheets. If it becomes probable that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will recognize any negative investment balance classified as a liability as income immediately. We use the “cumulative earnings” approach for determining cash flow presentation of distributions from our unconsolidated joint ventures. Distributions received are included in our consolidated statements of cash flows as operating activities, unless the cumulative distributions received, less distributions received in prior periods that were determined to be returns of investment, exceed our portion of the cumulative equity in the net earnings of the joint venture, in which case the excess distributions are deemed to be returns of the investment and are classified as investing activities in our consolidated statements of cash flows. The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented: November 30, May 31, (in thousands) 2022 2022 Cash and cash equivalents $ 41,768 $ 68,563 Other current assets 911,881 1,148,029 Noncurrent assets 301,027 369,608 Total assets $ 1,254,676 $ 1,586,200 Current liabilities 292,303 345,097 Short-term borrowings 10,000 5,943 Current maturities of long-term debt 36,110 33,054 Long-term debt 304,108 306,814 Other noncurrent liabilities 69,667 76,437 Equity 542,488 818,855 Total liabilities and equity $ 1,254,676 $ 1,586,200 Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Net sales $ 711,665 $ 858,165 $ 1,535,607 $ 1,603,160 Gross margin 147,299 226,502 328,704 416,176 Operating income 107,356 184,779 245,183 330,767 Depreciation and amortization 6,864 7,848 15,052 16,075 Interest expense 3,910 2,711 6,590 5,172 Income tax expense 1,262 8,565 3,372 16,461 Net earnings 105,183 173,915 238,421 312,803

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	6 Months Ended
	Nov. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Long-Lived Assets	Note E – Impairment of Long-Lived Assets Impairment of Long-Lived Assets Fiscal 2023 : During the first quarter of fiscal 2023, we committed to plans to liquidate certain fixed assets at our Samuel joint venture’s toll processing facility in Cleveland, Ohio. As all of the criteria for classification as assets held for sale continue to be met during the quarter ended November 30, 2022, the net assets have been presented separately as assets held for sale in our consolidated balance sheet as of November 30, 2022 . In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair market value less costs to sell. As a result, a pre-tax impairment charge of $ 312,000 was recognized during the first quarter of fiscal 2023 to write the book value of the land and building of the asset group to its estimated fair value less cost to sell. The land and building were subsequently sold during the second quarter of fiscal 2023 for net cash proceeds of $ 3,298,000 . Machinery and equipment with a net book value of $ 1,562,000 continues to be classified as held for sale. No impairment charges were recorded during the second quarter of fiscal 2023. Fiscal 2022 : No ne

Restructuring and Other Income,

Restructuring and Other Income, Net	6 Months Ended
	Nov. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Income, Net	Note F – Restructuring and Other Income, Net We consider restructuring activities to be programs whereby we fundamentally change our operations, such as closing and consolidating manufacturing facilities or moving manufacturing of a product to another location. Restructuring activities may also involve substantial realignment of the management structure of a business unit in response to changing market conditions. A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption, in our consolidated statement of earnings for the six months ended November 30, 2022 is summarized below: (in thousands) Balance, as of Expense Payments Adjustments Balance, as of Early retirement and severance $ 541 $ 85 $ ( 605 ) $ - $ 21 Net gain on sale of assets (1)(2) ( 5,467 ) Restructuring and other income, net $ ( 5,382 ) (1) On June 14, 2022, we sold real property in Tulsa, Oklahoma, for net cash proceeds of $ 5,775,000 , resulting in a pre-tax gain of $ 1,177,000 . These assets had been excluded from the sale of our former oil & gas equipment business in January 2021. The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale. (2) On October 31, 2022, the Company’s consolidated steel processing joint venture, WSP, sold its remaining manufacturing facility, located in Jackson, Michigan. Net proceeds of $ 21,277,000 were realized in connection with the transaction, of which $ 2,000,000 is being held in escrow for general representations and warranties. The transaction resulted in a pre-tax gain of $ 3,926,000 . The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale. The total liability associated with our restructuring activities as of November 30, 2022 is expected to be paid in the next twelve months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	6 Months Ended
	Nov. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Note G – Contingent Liabilities and Commitments Legal Proceedings We are defendants in certain legal actions. In the opinion of management, the outcome of these actions, which is not clearly determinable at the present time, would not significantly affect our consolidated financial position or future results of operations. We also believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations.

Guarantees

Guarantees	6 Months Ended
	Nov. 30, 2022
Guarantees and Product Warranties [Abstract]
Guarantees	Note H – Guarantees We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. However, we had in place $ 14,137,000 of outstanding stand-by letters of credit issued to third-party service providers at November 30, 2022 . No amounts were drawn against these stand-by letters of credit at November 30, 2022 . We are also party to an operating lease for an aircraft in which we have guaranteed a residual value at lease termination. The maximum obligation under the terms of this guarantee was approximately $ 17,524,000 at November 30, 2022.

Debt

Debt	6 Months Ended
	Nov. 30, 2022
Debt Disclosure [Abstract]
Debt	Note I – Debt We maintain a $ 500,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders. On August 20, 2021, we amended and restated the Credit Facility, extending the final maturity from February 16, 2023 to August 20, 2026 while keeping in place the $500,000,000 aggregate commitments under the Credit Facility. Borrowings under the Credit Facility have maturities of up to one year . We have the option to borrow at rates equal to an applicable margin over the Daily LIBOR Rate, the Prime Rate of PNC Bank, National Association or the Overnight Bank Funding Rate. The Credit Facility contains customary LIBOR benchmark replacement language. The applicable margin is determined by our credit rating. There were no borrowings outstanding under the Credit Facility at November 30, 2022 , leaving $ 500,000,000 available for future use. We also maintain a revolving trade accounts receivable securitization facility (the “AR Facility”). Pursuant to the terms of the AR Facility, certain of our subsidiaries sell or contribute all of their eligible accounts receivable and other related assets without recourse, on a revolving basis, to Worthington Receivables Company, LLC (“WRC”), a wholly-owned, consolidated, bankruptcy-remote indirect subsidiary. In turn, WRC sells, on a revolving basis, up to $ 175,000,000 of undivided ownership interests in this pool of accounts receivable to a third-party bank. We retain an undivided interest in this pool and are subject to risk of loss based on the collectability of the receivables from this retained interest. Because the amount eligible to be sold excludes receivables more than 120 days past due, receivables offset by an allowance for doubtful accounts due to bankruptcy or other cause, concentrations over certain limits with specific customers and certain reserve amounts, we believe additional risk of loss is minimal. As of November 30, 2022 , there were no borrowings outstanding under the AR Facility, leaving $ 175,000,000 available for future use. Tempel China has short-term loan facilities that result in the equivalent of $ 4,935,000 U.S. dollars outstanding at November 30, 2022. These loans, which are used to finance steel purchases, are collateralized by Tempel China property and equipment and mature in 2023 . New loans may be entered into as these loans mature. The effective interest rate on these loans is 3.5 % at November 30, 2022.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Nov. 30, 2022
Components Of Other Comprehensive Income Loss [Abstract]
Other Comprehensive Income (Loss)	Note J – Other Comprehensive Income (Loss) The following table summarizes the tax effects on each component of OCI for the periods presented: Three Months Ended November 30, 2022 November 30, 2021 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 550 $ 308 $ 858 $ ( 4,507 ) $ ( 365 ) $ ( 4,872 ) Pension liability adjustment 15 ( 97 ) ( 82 ) - - - Cash flow hedges ( 5,665 ) 1,665 ( 4,000 ) ( 68,677 ) 15,691 ( 52,986 ) Other comprehensive loss $ ( 5,100 ) $ 1,876 $ ( 3,224 ) $ ( 73,184 ) $ 15,326 $ ( 57,858 ) Six Months Ended November 30, 2022 November 30, 2021 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ ( 8,970 ) $ ( 273 ) $ ( 9,243 ) $ ( 8,124 ) $ ( 723 ) $ ( 8,847 ) Pension liability adjustment 3,740 ( 883 ) 2,857 - - - Cash flow hedges ( 22,762 ) 5,462 ( 17,300 ) ( 68,876 ) 15,591 ( 53,285 ) Other comprehensive loss $ ( 27,992 ) $ 4,306 $ ( 23,686 ) $ ( 77,000 ) $ 14,868 $ ( 62,132 )

Changes in Equity

Changes in Equity	6 Months Ended
	Nov. 30, 2022
Equity [Abstract]
Changes in Equity	Note K – Changes in Equity The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2022 $ 273,439 $ ( 22,850 ) $ 1,230,163 $ 1,480,752 $ 133,210 $ 1,613,962 Net earnings - - 64,082 64,082 1,162 65,244 Other comprehensive loss - ( 20,462 ) - ( 20,462 ) - ( 20,462 ) Common shares issued, net of withholding tax ( 3,466 ) - - ( 3,466 ) - ( 3,466 ) Common shares in non-qualified plans 136 - - 136 - 136 Stock-based compensation 6,976 - - 6,976 - 6,976 Cash dividends declared - - ( 15,418 ) ( 15,418 ) - ( 15,418 ) Balance at August 31, 2022 $ 277,085 $ ( 43,312 ) $ 1,278,827 $ 1,512,600 $ 134,372 $ 1,646,972 Net earnings - - 16,218 16,218 3,287 19,505 Other comprehensive loss - ( 3,224 ) - ( 3,224 ) - ( 3,224 ) Common shares issued, net of withholding tax ( 649 ) - - ( 649 ) - ( 649 ) Common shares in non-qualified plans 298 - - 298 - 298 Stock-based compensation 3,620 - - 3,620 - 3,620 Cash dividends declared - - ( 15,470 ) ( 15,470 ) - ( 15,470 ) Dividends to noncontrolling interest - - - - ( 11,760 ) ( 11,760 ) Balance at November 30, 2022 $ 280,354 $ ( 46,536 ) $ 1,279,575 $ 1,513,393 $ 125,899 $ 1,639,292 Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Income (Loss), Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2021 $ 282,790 $ 45,387 $ 1,070,016 $ 1,398,193 $ 153,502 $ 1,551,695 Net earnings - - 132,491 132,491 8,984 141,475 Other comprehensive loss - ( 4,274 ) - ( 4,274 ) - ( 4,274 ) Common shares issued, net of withholding tax ( 4,091 ) - - ( 4,091 ) - ( 4,091 ) Common shares in non-qualified plans 89 - - 89 - 89 Stock-based compensation 6,324 - - 6,324 - 6,324 Purchases and retirement of common shares ( 5,477 ) - ( 55,408 ) ( 60,885 ) - ( 60,885 ) Cash dividends declared - - ( 14,504 ) ( 14,504 ) - ( 14,504 ) Dividends to noncontrolling interests - - - - ( 9,197 ) ( 9,197 ) Balance at August 31, 2021 $ 279,635 $ 41,113 $ 1,132,595 $ 1,453,343 $ 153,289 $ 1,606,632 Net earnings - - 110,301 110,301 2,884 113,185 Other comprehensive loss - ( 57,858 ) - ( 57,858 ) - ( 57,858 ) Common shares issued, net of withholding tax ( 2,694 ) - - ( 2,694 ) - ( 2,694 ) Common shares in non-qualified plans 257 - - 257 - 257 Stock-based compensation 3,304 - - 3,304 - 3,304 Purchases and retirement of common shares ( 1,297 ) - ( 11,405 ) ( 12,702 ) - ( 12,702 ) Cash dividends declared - - ( 14,154 ) ( 14,154 ) - ( 14,154 ) Dividends to noncontrolling interest - - - - ( 2,879 ) ( 2,879 ) Balance at November 30, 2021 $ 279,205 $ ( 16,745 ) $ 1,217,337 $ 1,479,797 $ 153,294 $ 1,633,091 The following table summarizes the changes in accumulated other comprehensive income (loss) for the periods presented: Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2022 $ ( 15,310 ) $ ( 6,244 ) $ ( 1,296 ) $ ( 22,850 ) Other comprehensive loss before reclassifications ( 8,970 ) ( 1,034 ) ( 36,041 ) ( 46,045 ) Reclassification adjustments to net earnings (a) - 4,774 13,279 18,053 Income tax effect ( 273 ) ( 883 ) 5,462 4,306 Balance as of November 30, 2022 $ ( 24,553 ) $ ( 3,387 ) $ ( 18,596 ) $ ( 46,536 ) Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Income (Loss) Balance as of May 31, 2021 $ 1,779 $ ( 15,955 ) $ 59,563 $ 45,387 Other comprehensive income (loss) before reclassifications ( 8,124 ) - 14,279 6,155 Reclassification adjustments to net earnings (a) - - ( 83,155 ) ( 83,155 ) Income tax effect ( 723 ) - 15,591 14,868 Balance as of November 30, 2021 $ ( 7,068 ) $ ( 15,955 ) $ 6,278 $ ( 16,745 ) (a) The statement of earnings classification of amounts reclassified to net earnings include: 1. Pension liability adjustment – During August 2022, we purchased (using pension plan assets) an annuity contract from a third-party insurance company to transfer approximately 31 % of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan as of the purchase date. As a result of this transaction: 1) we incurred a non-cash settlement charge of $ 4,774,000 within “Miscellaneous income (expense), net”; 2) we were relieved of all responsibility for these pension obligations; and 3) the insurance company is now required to pay and administer the retirement benefits owed to 220 benefi ciaries; and 2. Cash flow hedges – disclosed in “Note Q – Derivative Financial Instruments and Hedging Activities ”.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Nov. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note L – Stock-Based Compensation Non-Qualified Stock Options During the six months ended November 30, 2022, we granted non-qualified stock options covering a total of 84,400 common shares under our stock-based compensation plans. The weighted average exercise price of $ 46.39 per share was equal to the market price of the underlying common shares at the grant date. The fair value of these stock options, based on the Black-Scholes option-pricing model, calculated at the grant date, was $ 16.36 per share. The calculated pre-tax stock-based compensation expense for these stock options is $ 1,381,000 and will be recognized on a straight-line basis o ver the three-year vesting period, net of any forfeitures. The following assumptions were used to value these stock options: Dividend yield 2.33 % Expected volatility 41.63 % Risk-free interest rate 3.19 % Expected term (years) 6.0 Expected volatility is based on the historical volatility of Worthington Industries, Inc.’s common shares and the risk-free interest rate is based on the U.S. Treasury strip rate for the expected term of the stock options. The expected term was developed using historical exercise experience. Service-Based Restricted Common Shares During the six months ended November 30, 2022 , we granted an aggregate of 308,000 service-based restricted common shares under our stock-based compensation plans, which generally vest three years after their grant date. The fair value of these restricted common shares was equal to the weighted average closing market price of the underlying common shares on the date of grant, or $ 51.09 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares is $ 15,216,000 and will be recognized on a straight-line basis over the three-year service-based vesting period. Market-Based Restricted Common Shares On June 24, 2022, we granted 10,000 market-based restricted common shares to one key employee under one of our stock-based compensation plans. Vesting of these restricted common shares is contingent upon the average closing price of the common shares reaching $ 65.00 during any 90 consecutive day period during the five-year period following the date of grant and completion of a three-year service vesting period. The grant date fair value of these restricted common shares, as determined by a Monte Carlo simulation model, was $ 35.49 per share. The calculated pre-tax stock-based compensation expense for these market-based restricted common shares is $ 355,000 and will be recognized on a straight-line basis over the three-year service-based vesting period. The following assumptions were used to determine the grant-date fair value and the derived service period for these restricted common shares: Dividend yield 2.67 % Expected volatility 43.00 % Risk-free interest rate 3.18 % Performance Share Awards We have awarded performance shares to certain key employees under our stock-based compensation plans. These performance shares are earned based on the level of achievement with respect to corporate targets for cumulative corporate economic value added, earnings per share growth and, in the case of business unit executives, a business unit adjusted earnings before interest and taxes target, in each case for the three-year periods ending May 31, 2023, 2024 and 2025. These performance share awards will be paid, to the extent earned, in common shares of Worthington Industries, Inc. in the fiscal quarter following the end of the applicable three-year performance period. The fair values of our performance shares are determined by the closing market prices of the underlying common shares at the respective grant dates of the performance shares and the pre-tax stock-based compensation expense is based on our periodic assessment of the probability of the targets being achieved and our estimate of the number of common shares that will ultimately be issued. During the six months ended November 30, 2022 , we granted performance share awards covering an aggregate of 58,100 common shares (at target levels). The calculated pre-tax stock-based compensation expense for these performance shares is $ 2,695,000 . The ultimate pre-tax stock-based compensation expense to be recognized over the three-year performance period on all tranches will vary based on our periodic assessment of the probability of the targets being achieved.

Income Taxes

Income Taxes	6 Months Ended
	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note M – Income Taxes Income tax expense for the six months ended November 30, 2022 and 2021 reflected estimated annual effective income tax rates of 23.7 % and 22.8 %, respectively, and exclude any impact from the inclusion of net earnings attributable to noncontrolling interests in our consolidated statements of earnings. Net earnings attributable to noncontrolling interests are a result of our Samuel, Spartan, TWB and WSP (through October 31, 2022) consolidated joint ventures. The net earnings attributable to the noncontrolling interests in Samuel, Spartan, TWB and WSP’s U.S. operations do not generate tax expense to Worthington since the investors in Samuel, Spartan, TWB and WSP’s U.S. operations are taxed directly based on the earnings attributable to them. The tax expense of TWB’s wholly-owned foreign corporations is reported in our consolidated income tax expense. Management is required to estimate the annual effective income tax rate based upon its forecast of annual pre-tax income for domestic and foreign operations. Our actual effective income tax rate for fiscal 2023 could be materially different from the forecasted rate as of November 30, 2022 .

Earnings per Share

Earnings per Share	6 Months Ended
	Nov. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Note N – Earnings per Share The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands, except per share amounts) 2022 2021 2022 2021 Numerator (basic & diluted): Net earnings attributable to controlling interest - income available to common shareholders $ 16,218 $ 110,301 $ 80,300 $ 242,792 Denominator: Denominator for basic earnings per share attributable to controlling interest - weighted average common shares 48,558 50,381 48,518 50,618 Effect of dilutive securities 772 833 775 914 Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares 49,330 51,214 49,293 51,532 Basic earnings per share attributable to controlling interest $ 0.33 $ 2.19 $ 1.66 $ 4.80 Diluted earnings per share attributable to controlling interest $ 0.33 $ 2.15 $ 1.63 $ 4.71 Stock options covering an aggregate of 138,100 and 54,500 common shares for the three months ended November 30, 2022 and 2021, respectively, and 127,492 and 47,352 common shares for the six months ended November 20, 2022 and 2021, respectively have been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive for those periods.

Segment Operations

Segment Operations	6 Months Ended
	Nov. 30, 2022
Segment Reporting [Abstract]
Segment Operations	Note O – Segment Operations The profit measure that the Company’s Chief Operating Decision Maker ("CODM") uses to assess segment performance and allocate resources is adjusted earnings (loss) before interest and taxes (“adjusted EBIT”). EBIT is calculated by adding interest expense and income tax expense to net earnings attributable to controlling interest. Adjusted EBIT excludes impairment and restructuring charges (gains), but may also exclude other items that management believes are not reflective of, and thus should not be included when evaluating the performance of the Company’s ongoing operations, including direct and incremental costs incurred in connection with the planned Separation of the Company’s Steel Processing business. Adjusted EBIT is a non-GAAP financial measure and is used by management to evaluate segment performance, engage in financial and operational planning and determine incentive compensation because we believe that this financial measure provides additional perspective and, in some circumstances is more closely correlated to, the performance of the Company’s ongoing operations. The following table presents summarized financial information for our reportable operating segments for the periods indicated. Three Months Ended November 30, 2022 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 841,947 $ 153,795 $ 141,671 $ 38,128 $ - $ 1,175,541 Restructuring and other income, net ( 4,282 ) - - - - ( 4,282 ) Separation costs - - - - 9,246 9,246 Miscellaneous income (expense), net 850 ( 47 ) 76 142 384 1,405 Equity in net income (loss) of unconsolidated affiliates 1,906 - 35,107 - ( 156 ) 36,857 Adjusted EBIT (1)(2) ( 17,249 ) 13,473 41,224 1,143 ( 3,291 ) 35,300 (1) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 1,850 . (2) Excludes $ 525 in selling, general and administrative expense in Consumer Products related to incremental expense attributable to the Level5 earnout; excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. Three Months Ended November 30, 2021 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 937,842 $ 140,793 $ 121,125 $ 33,101 $ - $ 1,232,861 Restructuring and other income, net ( 182 ) - - - ( 1,822 ) ( 2,004 ) Miscellaneous income, net 17 159 218 82 564 1,040 Equity in net income of unconsolidated affiliates 8,823 - 49,894 - 1,501 60,218 Adjusted EBIT (3) 71,925 17,584 54,718 796 1,893 146,916 (3) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 81 . Six Months Ended November 30, 2022 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 1,880,827 $ 342,497 $ 291,994 $ 68,888 $ - $ 2,584,206 Impairment of long-lived assets 312 - - - - 312 Restructuring and other income, net ( 4,205 ) - - - ( 1,177 ) ( 5,382 ) Separation costs - - - - 9,246 9,246 Miscellaneous income (expense), net 1,035 ( 82 ) 299 56 ( 4,989 ) ( 3,681 ) Equity in net income (loss) of unconsolidated affiliates 3,676 - 78,973 - ( 14,080 ) 68,569 Adjusted EBIT (4)(5) 17,663 34,406 93,959 ( 250 ) 1,854 147,632 (4) Excludes a non-cash settlement charge of $ 4,774 in miscellaneous income (expense), net within Other to accelerate a portion of deferred pension cost as a result of a pension lift-out transaction executed with a third-party insurance company to transfer a portion of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to the third-party insurance company; excludes a loss of $ 15,759 in equity in net income (loss) of unconsolidated affiliates within Other related to the sale of the Company’s 50 % noncontrolling equity investment in ArtiFlex effective August 3, 2022; excludes $ 1,050 in selling, general and administrative expense in Consumer Products related to incremental compensation expense attributable to the Level5 earnout; and excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. (5) Excludes the noncontrolling interest portion of the impairment charge and restructuring gains within Steel Processing of $ 1,734 . Six Months Ended November 30, 2021 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 1,760,652 $ 288,576 $ 235,868 $ 58,583 $ - $ 2,343,679 Restructuring and other income, net ( 12,313 ) - - ( 143 ) ( 1,822 ) ( 14,278 ) Miscellaneous income, net 47 209 144 22 1,248 1,670 Equity in net income of unconsolidated affiliates 18,172 - 92,887 - 2,075 113,134 Adjusted EBIT (6) 179,617 38,140 103,471 ( 1,760 ) 1,479 320,947 (6) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 6,027 . Total assets for each of our operating segments as of the dates indicated were as follows: November 30, May 31, (in thousands) 2022 2022 Total assets Steel Processing $ 1,796,136 $ 2,082,522 Consumer Products 627,474 577,026 Building Products 645,566 681,188 Sustainable Energy Solutions 120,978 114,084 Other 200,506 188,203 Total assets $ 3,390,660 $ 3,643,023

Acquisitions

Acquisitions	6 Months Ended
	Nov. 30, 2022
Business Combinations [Abstract]
Acquisitions	Note P – Acquisitions Level5® Tools, LLC On June 2, 2022, we acquired Level5® Tools, LLC ("Level5"), a leading provider of drywall tools and related accessories. The total purchase price was $ 59,321,000 , including $ 2,000,000 attributed to an earnout agreement with the selling shareholders, that provides for up to an additional $ 25,000,000 of cash consideration should certain earnings targets be met annually through calendar 2024. The earnout agreement also requires continued employment of a selling shareholder during the duration of the earnout period. Accordingly, payments to this key employee, to the extent earned, will be accounted for as post-combination compensation expense. During the three months and six months ended November 30, 2022, compensation expense of $ 525,000 and $ 1,050,000 , respectively, has been accrued within selling, general, and administrative expense in the consolidated statements of earnings related to the earnout. Level5 is being operated as part of the Consumer Products operating segment and its results have been included in our consolidated statements of earnings since the date of acquisition. Proforma results, including the acquired business since the beginning of fiscal 2022, would not be materially different from the reported results. The information included herein has been based on the preliminary allocation of the purchase price using estimates of the fair value and useful lives of the assets acquired. The purchase price allocation is subject to further adjustment until all pertinent information regarding the assets acquired is fully evaluated by us, including but not limited to, the fair value accounting. The assets acquired and liabilities assumed were recognized at their estimated acquisition-date fair values, with goodwill representing the excess of the purchase price over the fair value of the net identifiable assets acquired. In connection with the acquisition of Level5, we identified and valued the following intangible assets: (in thousands) Category Amount Useful Life (Years) Trade name $ 13,500 Indefinite Customer relationships 13,300 10 Technological know-how 6,500 20 Non-compete agreement 280 3 Total acquired identifiable intangible assets $ 33,580 The purchase price includes the fair values of other assets that were not identifiable, not separately recognizable under applicable accounting rules (e.g., assembled workforce) or of immaterial value. The purchase price also includes strategic and synergistic benefits (investment value) specific to us, which resulted in a purchase price in excess of the fair value of the identifiable net assets. This additional investment value resulted in goodwill which will be deductible by us for income tax purposes. The following table summarizes the consideration transferred and the estimated fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, including preliminary work performed by a third-party valuation specialist, and are subject to change within the measurement period as the valuation is finalized. The primary areas of preliminary purchase price allocation subject to change relate to the valuation of acquired tangible assets and liabilities, identification and valuation of residual goodwill and tax effects of acquired assets and assumed liabilities. (in thousands) Preliminary Measurement Revised Cash and cash equivalents $ 1,515 $ - $ 1,515 Accounts receivable 2,860 - 2,860 Inventories 9,161 - 9,161 Prepaid expenses 64 - 64 Property, plant and equipment 273 - 273 Intangible assets 33,580 - 33,580 Operating lease assets 377 - 377 Total identifiable assets 47,830 - 47,830 Accounts payable ( 3,175 ) - ( 3,175 ) Accrued expenses ( 904 ) 151 ( 753 ) Current operating lease liabilities ( 111 ) - ( 111 ) Noncurrent operating lease liabilities ( 266 ) - ( 266 ) Net identifiable assets 43,374 151 43,525 Goodwill 15,947 - 15,947 Total purchase price 59,321 151 59,472 Less: Fair value of earnout ( 2,000 ) - ( 2,000 ) Plus: Net working capital deficit 282 ( 151 ) 131 Cash purchase price $ 57,603 $ - $ 57,603

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Nov. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note Q – Derivative Financial Instruments and Hedging Activities We utilize derivative financial instruments to primarily manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative financial instruments include interest rate risk, foreign currency exchange rate risk and commodity price risk. While certain of our derivative financial instruments are designated as hedging instruments, we also enter into derivative financial instruments that are designed to hedge a risk, but are not designated as hedging instruments and, therefore, do not qualify for hedge accounting. These derivative financial instruments are adjusted to current fair value through earnings at the end of each period. Interest Rate Risk Management – We are exposed to the impact of interest rate changes. Our objective is to manage the impact of interest rate changes on cash flows and the market value of our borrowings. We utilize a mix of debt maturities along with both fixed-rate and variable-rate debt to manage changes in interest rates. In addition, we enter into interest rate swaps and treasury locks to further manage our exposure to interest rate variations related to our borrowings and to lower our overall borrowing costs. Foreign Currency Exchange Rate Risk Management – We conduct business in several major international currencies and are, therefore, subject to risks associated with changing foreign currency exchange rates. We enter into various contracts that change in value as foreign currency exchange rates change to manage this exposure. Such contracts limit exposure to both favorable and unfavorable currency exchange rate fluctuations. The translation of foreign currencies into U.S. dollars also subjects us to exposure related to fluctuating currency exchange rates; however, derivative financial instruments are not used to manage this risk. Commodity Price Risk Management – We are exposed to changes in the price of certain commodities, including steel, natural gas, copper, zinc and other raw materials, and our utility requirements. Our objective is to reduce earnings and cash flow volatility associated with forecasted purchases and sales of these commodities to allow management to focus its attention on business operations. Accordingly, we enter into derivative financial instruments to manage the associated price risk. We are exposed to counterparty credit risk on all of our derivative financial instruments. Accordingly, we have established and maintain strict counterparty credit guidelines. We have credit support agreements in place with certain counterparties to limit our credit exposure. These agreements require either party to post cash collateral if its cumulative market position exceeds a predefined liability threshold. Amounts posted to the margin accounts accrue interest at market rates and are required to be refunded in the period in which the cumulative market position falls below the required threshold. We do not have significant exposure to any one counterparty, and management believes the overall risk of loss is remote and, in any event, would not be material. Refer to “Note R – Fair Value” for additional information regarding the accounting treatment for our derivative financial instruments, as well as how fair value is determined. The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at November 30, 2022: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 140 Accounts payable $ 16,830 Other assets - Other liabilities 941 140 17,771 Foreign currency exchange contracts Other assets 258 Accounts payable - Total $ 398 $ 17,771 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,622 Accounts payable $ 2,155 Other assets 18 Other liabilities 275 4,640 2,430 Foreign currency exchange contracts Receivables - Accounts payable 94 Total $ 4,640 $ 2,524 Total derivative financial instruments $ 5,038 $ 20,295 The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis where allowable under master netting arrangements. Had these amounts been recognized on a gross basis, the impact would have been a $ 6,739,000 increase in “Receivables” with a corresponding increase in “Accounts payable.” The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at May 31, 2022: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 1,040 Accounts payable $ 4,517 Other assets - Other liabilities 48 1,040 4,565 Foreign currency exchange contracts Receivables - Accounts payable - Other assets - Other liabilities 17 - 17 Total $ 1,040 $ 4,582 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 11,555 Accounts payable $ 4,142 Other assets 48 Other liabilities 24 11,603 4,166 Foreign currency exchange contracts Receivables - Accounts payable 255 Total $ 11,603 $ 4,421 Total derivative financial instruments $ 12,643 $ 9,003 The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis where allowable under master netting arrangements. Had these amounts been recognized on a gross basis, the impact would have been a $ 6,300,000 increase in “Receivables” with a corresponding increase in “Accounts payable.” Cash Flow Hedges We enter into derivative financial instruments to hedge our exposure to changes in cash flows attributable to commodity price fluctuations associated with certain forecasted transactions. These derivative financial instruments are designated and qualify as cash flow hedges. The earnings effects of these derivative financial instruments are presented in the same statement of earnings line items as the earnings effects of the hedged items. For derivative financial instruments designated as cash flow hedges, we assess hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative financial instruments. The following table summarizes our cash flow hedges outstanding at November 30, 2022: Notional (in thousands) Amount Maturity Date Commodity contracts $ 114,516 December 2022 - December 2023 Foreign currency exchange contracts $ 1,751 January 2023 - July 2023 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from Accumulated Other Comprehensive Income (Loss) (“AOCI”) into net earnings for derivative financial instruments designated as cash flow hedges for the periods presented: (in thousands) Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified For the three months ended November 30, 2022: Commodity contracts $ ( 19,641 ) Cost of goods sold $ ( 13,648 ) Interest rate contracts - Interest expense ( 7 ) Foreign currency exchange contracts 376 Net sales/Cost of goods sold 53 Total $ ( 19,265 ) $ ( 13,602 ) For the three months ended November 30, 2021: Commodity contracts $ ( 21,002 ) Cost of goods sold $ 47,706 Interest rate contracts - Interest expense 27 Foreign currency exchange contracts 60 Miscellaneous income, net 3 Total $ ( 20,942 ) $ 47,736 For the six months ended November 30, 2022: Commodity contracts $ ( 36,099 ) Cost of goods sold $ ( 13,192 ) Interest rate contracts - Interest expense ( 13 ) Foreign currency exchange contracts 58 Net sales/Cost of goods sold ( 74 ) Total $ ( 36,041 ) $ ( 13,279 ) For the six months ended November 30, 2021: Commodity contracts $ 14,218 Cost of goods sold $ 83,165 Interest rate contracts - Interest expense ( 13 ) Foreign currency exchange contracts 61 Miscellaneous income, net 3 Total $ 14,279 $ 83,155 The estimated net amount of the losses recognized in AOCI at November 30, 2022 expected to be reclassified into net earnings within the succeeding twelve months is $ 18,807,000 (net of tax of $ 5,918,000 ). This amount was computed using the fair value of the cash flow hedges at November 30, 2022, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2023 and May 31, 2024. Economic (Non-designated) Hedges We enter into foreign currency exchange contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative financial instruments are adjusted to current market value at the end of each period through gain (loss) recognized in earnings. The following table summarizes our economic (non-designated) derivative financial instruments outstanding at November 30, 2022: Notional (in thousands) Amount Maturity Date(s) Commodity contracts $ 5,100 December 2022 - December 2023 Foreign currency exchange contracts $ 15,096 December 2022 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized In Earnings for the Location of Gain (Loss) Three Months Ended November 30, (in thousands) Recognized in Earnings 2022 2021 Commodity contracts Cost of goods sold $ 3,861 $ ( 10,135 ) Foreign currency exchange contracts Miscellaneous income, net ( 47 ) ( 588 ) Total $ 3,814 $ ( 10,723 ) Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Six Months Ended November 30, (in thousands) Recognized in Earnings 2022 2021 Commodity contracts Cost of goods sold $ 2,284 $ ( 19,392 ) Foreign currency exchange contracts Miscellaneous income, net ( 141 ) ( 249 ) Total $ 2,143 $ ( 19,641 )

Fair Value

Fair Value	6 Months Ended
	Nov. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value	Note R – Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1 – Observable prices in active markets for identical assets and liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the assets and liabilities, either directly or indirectly. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Recurring Fair Value Measurements At November 30, 2022, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 5,038 $ - $ 5,038 Total assets $ - $ 5,038 $ - $ 5,038 Liabilities Derivative financial instruments (1) $ - $ 20,295 $ - $ 20,295 Total liabilities $ - $ 20,295 $ - $ 20,295 (1) The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “Note Q – Derivative Financial Instruments and Hedging Activities” for additional information regarding our use of derivative financial instruments. At May 31, 2022, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 12,643 $ - $ 12,643 Total assets $ - $ 12,643 $ - $ 12,643 Liabilities Derivative financial instruments (1) $ - $ 9,003 $ - $ 9,003 Total liabilities $ - $ 9,003 $ - $ 9,003 (1) The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note Q – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments. Non-Recurring Fair Value Measurements At November 30, 2022 , there were no assets measured at fair value on a non-recurring basis on the Company’s consolidated balance sheet. At May 31, 2022, our assets measured at fair value on a non-recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Long-lived assets held for sale (1) $ - $ 700 $ - $ 700 Total assets $ - $ 700 $ - $ 700 (1) Comprised of production equipment at our Twinsburg, Ohio facility with an estimated fair market value of $ 700,000 . The fair value of non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, income taxes receivable, other assets, accounts payable, accrued compensation, contributions to employee benefit plans and related taxes, other accrued items, income taxes payable and other liabilities approximate carrying value due to their short-term nature. The fair value of long-term debt, including current maturities, based upon models utilizing market observable (Level 2) inputs and credit risk, was $ 646,856,000 and $ 684,830,000 at November 30, 2022 and May 31, 2022, respectively. The carrying amount of long-term debt, including current maturities, was $ 693,710,000 and $ 696,610,000 at November 30, 2022 and May 31, 2022 , respectively.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Nov. 30, 2022
Disaggregation Of Revenue [Line Items]
Revenue by Product Class and Over Time	The following table summarizes net sales by operating segment and product class for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Steel Processing Direct $ 807,259 $ 900,666 $ 1,809,394 $ 1,688,694 Toll 34,688 37,176 71,433 71,958 Total 841,947 937,842 1,880,827 1,760,652 Consumer Products (1) 153,795 140,793 342,497 288,576 Building Products (1) 141,671 121,125 291,994 235,868 Sustainable Energy Solutions (1) 38,128 33,101 68,888 58,583 Total $ 1,175,541 $ 1,232,861 $ 2,584,206 $ 2,343,679
Summary of Unbilled Receivable	The following table summarizes the unbilled receivables at the dates indicated: November 30, May 31, (in thousands) Balance Sheet Classification 2022 2022 Unbilled receivables Receivables $ 3,192 $ 5,001
Over time revenue
Disaggregation Of Revenue [Line Items]
Revenue by Product Class and Over Time	The following table summarizes the over time revenue for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Steel Processing - toll $ 34,688 $ 37,176 $ 71,433 $ 71,958

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
	Nov. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Financial Information	The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented: November 30, May 31, (in thousands) 2022 2022 Cash and cash equivalents $ 41,768 $ 68,563 Other current assets 911,881 1,148,029 Noncurrent assets 301,027 369,608 Total assets $ 1,254,676 $ 1,586,200 Current liabilities 292,303 345,097 Short-term borrowings 10,000 5,943 Current maturities of long-term debt 36,110 33,054 Long-term debt 304,108 306,814 Other noncurrent liabilities 69,667 76,437 Equity 542,488 818,855 Total liabilities and equity $ 1,254,676 $ 1,586,200 Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2022 2021 2022 2021 Net sales $ 711,665 $ 858,165 $ 1,535,607 $ 1,603,160 Gross margin 147,299 226,502 328,704 416,176 Operating income 107,356 184,779 245,183 330,767 Depreciation and amortization 6,864 7,848 15,052 16,075 Interest expense 3,910 2,711 6,590 5,172 Income tax expense 1,262 8,565 3,372 16,461 Net earnings 105,183 173,915 238,421 312,803

Restructuring and Other Incom_2

Restructuring and Other Income, Net (Tables)	6 Months Ended
	Nov. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption, in our consolidated statement of earnings for the six months ended November 30, 2022 is summarized below: (in thousands) Balance, as of Expense Payments Adjustments Balance, as of Early retirement and severance $ 541 $ 85 $ ( 605 ) $ - $ 21 Net gain on sale of assets (1)(2) ( 5,467 ) Restructuring and other income, net $ ( 5,382 ) (1) On June 14, 2022, we sold real property in Tulsa, Oklahoma, for net cash proceeds of $ 5,775,000 , resulting in a pre-tax gain of $ 1,177,000 . These assets had been excluded from the sale of our former oil & gas equipment business in January 2021. The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale. (2) On October 31, 2022, the Company’s consolidated steel processing joint venture, WSP, sold its remaining manufacturing facility, located in Jackson, Michigan. Net proceeds of $ 21,277,000 were realized in connection with the transaction, of which $ 2,000,000 is being held in escrow for general representations and warranties. The transaction resulted in a pre-tax gain of $ 3,926,000 . The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Nov. 30, 2022
Components Of Other Comprehensive Income Loss [Abstract]
Summary of Tax Effects on Each Component of OCI	The following table summarizes the tax effects on each component of OCI for the periods presented: Three Months Ended November 30, 2022 November 30, 2021 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 550 $ 308 $ 858 $ ( 4,507 ) $ ( 365 ) $ ( 4,872 ) Pension liability adjustment 15 ( 97 ) ( 82 ) - - - Cash flow hedges ( 5,665 ) 1,665 ( 4,000 ) ( 68,677 ) 15,691 ( 52,986 ) Other comprehensive loss $ ( 5,100 ) $ 1,876 $ ( 3,224 ) $ ( 73,184 ) $ 15,326 $ ( 57,858 ) Six Months Ended November 30, 2022 November 30, 2021 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ ( 8,970 ) $ ( 273 ) $ ( 9,243 ) $ ( 8,124 ) $ ( 723 ) $ ( 8,847 ) Pension liability adjustment 3,740 ( 883 ) 2,857 - - - Cash flow hedges ( 22,762 ) 5,462 ( 17,300 ) ( 68,876 ) 15,591 ( 53,285 ) Other comprehensive loss $ ( 27,992 ) $ 4,306 $ ( 23,686 ) $ ( 77,000 ) $ 14,868 $ ( 62,132 )

Changes in Equity (Tables)

Changes in Equity (Tables)	6 Months Ended
	Nov. 30, 2022
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 Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2022 $ 273,439 $ ( 22,850 ) $ 1,230,163 $ 1,480,752 $ 133,210 $ 1,613,962 Net earnings - - 64,082 64,082 1,162 65,244 Other comprehensive loss - ( 20,462 ) - ( 20,462 ) - ( 20,462 ) Common shares issued, net of withholding tax ( 3,466 ) - - ( 3,466 ) - ( 3,466 ) Common shares in non-qualified plans 136 - - 136 - 136 Stock-based compensation 6,976 - - 6,976 - 6,976 Cash dividends declared - - ( 15,418 ) ( 15,418 ) - ( 15,418 ) Balance at August 31, 2022 $ 277,085 $ ( 43,312 ) $ 1,278,827 $ 1,512,600 $ 134,372 $ 1,646,972 Net earnings - - 16,218 16,218 3,287 19,505 Other comprehensive loss - ( 3,224 ) - ( 3,224 ) - ( 3,224 ) Common shares issued, net of withholding tax ( 649 ) - - ( 649 ) - ( 649 ) Common shares in non-qualified plans 298 - - 298 - 298 Stock-based compensation 3,620 - - 3,620 - 3,620 Cash dividends declared - - ( 15,470 ) ( 15,470 ) - ( 15,470 ) Dividends to noncontrolling interest - - - - ( 11,760 ) ( 11,760 ) Balance at November 30, 2022 $ 280,354 $ ( 46,536 ) $ 1,279,575 $ 1,513,393 $ 125,899 $ 1,639,292 Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Income (Loss), Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2021 $ 282,790 $ 45,387 $ 1,070,016 $ 1,398,193 $ 153,502 $ 1,551,695 Net earnings - - 132,491 132,491 8,984 141,475 Other comprehensive loss - ( 4,274 ) - ( 4,274 ) - ( 4,274 ) Common shares issued, net of withholding tax ( 4,091 ) - - ( 4,091 ) - ( 4,091 ) Common shares in non-qualified plans 89 - - 89 - 89 Stock-based compensation 6,324 - - 6,324 - 6,324 Purchases and retirement of common shares ( 5,477 ) - ( 55,408 ) ( 60,885 ) - ( 60,885 ) Cash dividends declared - - ( 14,504 ) ( 14,504 ) - ( 14,504 ) Dividends to noncontrolling interests - - - - ( 9,197 ) ( 9,197 ) Balance at August 31, 2021 $ 279,635 $ 41,113 $ 1,132,595 $ 1,453,343 $ 153,289 $ 1,606,632 Net earnings - - 110,301 110,301 2,884 113,185 Other comprehensive loss - ( 57,858 ) - ( 57,858 ) - ( 57,858 ) Common shares issued, net of withholding tax ( 2,694 ) - - ( 2,694 ) - ( 2,694 ) Common shares in non-qualified plans 257 - - 257 - 257 Stock-based compensation 3,304 - - 3,304 - 3,304 Purchases and retirement of common shares ( 1,297 ) - ( 11,405 ) ( 12,702 ) - ( 12,702 ) Cash dividends declared - - ( 14,154 ) ( 14,154 ) - ( 14,154 ) Dividends to noncontrolling interest - - - - ( 2,879 ) ( 2,879 ) Balance at November 30, 2021 $ 279,205 $ ( 16,745 ) $ 1,217,337 $ 1,479,797 $ 153,294 $ 1,633,091
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss) for the periods presented: Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2022 $ ( 15,310 ) $ ( 6,244 ) $ ( 1,296 ) $ ( 22,850 ) Other comprehensive loss before reclassifications ( 8,970 ) ( 1,034 ) ( 36,041 ) ( 46,045 ) Reclassification adjustments to net earnings (a) - 4,774 13,279 18,053 Income tax effect ( 273 ) ( 883 ) 5,462 4,306 Balance as of November 30, 2022 $ ( 24,553 ) $ ( 3,387 ) $ ( 18,596 ) $ ( 46,536 ) Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Income (Loss) Balance as of May 31, 2021 $ 1,779 $ ( 15,955 ) $ 59,563 $ 45,387 Other comprehensive income (loss) before reclassifications ( 8,124 ) - 14,279 6,155 Reclassification adjustments to net earnings (a) - - ( 83,155 ) ( 83,155 ) Income tax effect ( 723 ) - 15,591 14,868 Balance as of November 30, 2021 $ ( 7,068 ) $ ( 15,955 ) $ 6,278 $ ( 16,745 ) (a) The statement of earnings classification of amounts reclassified to net earnings include: 1. Pension liability adjustment – During August 2022, we purchased (using pension plan assets) an annuity contract from a third-party insurance company to transfer approximately 31 % of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan as of the purchase date. As a result of this transaction: 1) we incurred a non-cash settlement charge of $ 4,774,000 within “Miscellaneous income (expense), net”; 2) we were relieved of all responsibility for these pension obligations; and 3) the insurance company is now required to pay and administer the retirement benefits owed to 220 benefi ciaries; and 2. Cash flow hedges – disclosed in “Note Q – Derivative Financial Instruments and Hedging Activities ”.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Nov. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Assumptions Used to Determine Grant Date Fair Value of Market Based Restricted Common Shares	The following assumptions were used to determine the grant-date fair value and the derived service period for these restricted common shares: Dividend yield 2.67 % Expected volatility 43.00 % Risk-free interest rate 3.18 %
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Assumptions Used to Determine Fair Value of Stock Options	The following assumptions were used to value these stock options: Dividend yield 2.33 % Expected volatility 41.63 % Risk-free interest rate 3.19 % Expected term (years) 6.0

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Nov. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest	The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands, except per share amounts) 2022 2021 2022 2021 Numerator (basic & diluted): Net earnings attributable to controlling interest - income available to common shareholders $ 16,218 $ 110,301 $ 80,300 $ 242,792 Denominator: Denominator for basic earnings per share attributable to controlling interest - weighted average common shares 48,558 50,381 48,518 50,618 Effect of dilutive securities 772 833 775 914 Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares 49,330 51,214 49,293 51,532 Basic earnings per share attributable to controlling interest $ 0.33 $ 2.19 $ 1.66 $ 4.80 Diluted earnings per share attributable to controlling interest $ 0.33 $ 2.15 $ 1.63 $ 4.71

Segment Operations (Tables)

Segment Operations (Tables)	6 Months Ended
	Nov. 30, 2022
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following table presents summarized financial information for our reportable operating segments for the periods indicated. Three Months Ended November 30, 2022 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 841,947 $ 153,795 $ 141,671 $ 38,128 $ - $ 1,175,541 Restructuring and other income, net ( 4,282 ) - - - - ( 4,282 ) Separation costs - - - - 9,246 9,246 Miscellaneous income (expense), net 850 ( 47 ) 76 142 384 1,405 Equity in net income (loss) of unconsolidated affiliates 1,906 - 35,107 - ( 156 ) 36,857 Adjusted EBIT (1)(2) ( 17,249 ) 13,473 41,224 1,143 ( 3,291 ) 35,300 (1) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 1,850 . (2) Excludes $ 525 in selling, general and administrative expense in Consumer Products related to incremental expense attributable to the Level5 earnout; excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. Three Months Ended November 30, 2021 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 937,842 $ 140,793 $ 121,125 $ 33,101 $ - $ 1,232,861 Restructuring and other income, net ( 182 ) - - - ( 1,822 ) ( 2,004 ) Miscellaneous income, net 17 159 218 82 564 1,040 Equity in net income of unconsolidated affiliates 8,823 - 49,894 - 1,501 60,218 Adjusted EBIT (3) 71,925 17,584 54,718 796 1,893 146,916 (3) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 81 . Six Months Ended November 30, 2022 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 1,880,827 $ 342,497 $ 291,994 $ 68,888 $ - $ 2,584,206 Impairment of long-lived assets 312 - - - - 312 Restructuring and other income, net ( 4,205 ) - - - ( 1,177 ) ( 5,382 ) Separation costs - - - - 9,246 9,246 Miscellaneous income (expense), net 1,035 ( 82 ) 299 56 ( 4,989 ) ( 3,681 ) Equity in net income (loss) of unconsolidated affiliates 3,676 - 78,973 - ( 14,080 ) 68,569 Adjusted EBIT (4)(5) 17,663 34,406 93,959 ( 250 ) 1,854 147,632 (4) Excludes a non-cash settlement charge of $ 4,774 in miscellaneous income (expense), net within Other to accelerate a portion of deferred pension cost as a result of a pension lift-out transaction executed with a third-party insurance company to transfer a portion of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to the third-party insurance company; excludes a loss of $ 15,759 in equity in net income (loss) of unconsolidated affiliates within Other related to the sale of the Company’s 50 % noncontrolling equity investment in ArtiFlex effective August 3, 2022; excludes $ 1,050 in selling, general and administrative expense in Consumer Products related to incremental compensation expense attributable to the Level5 earnout; and excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. (5) Excludes the noncontrolling interest portion of the impairment charge and restructuring gains within Steel Processing of $ 1,734 . Six Months Ended November 30, 2021 (in thousands) Steel Processing Consumer Products Building Products Sustainable Energy Solutions Other Consolidated Net sales $ 1,760,652 $ 288,576 $ 235,868 $ 58,583 $ - $ 2,343,679 Restructuring and other income, net ( 12,313 ) - - ( 143 ) ( 1,822 ) ( 14,278 ) Miscellaneous income, net 47 209 144 22 1,248 1,670 Equity in net income of unconsolidated affiliates 18,172 - 92,887 - 2,075 113,134 Adjusted EBIT (6) 179,617 38,140 103,471 ( 1,760 ) 1,479 320,947 (6) Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 6,027 . Total assets for each of our operating segments as of the dates indicated were as follows: November 30, May 31, (in thousands) 2022 2022 Total assets Steel Processing $ 1,796,136 $ 2,082,522 Consumer Products 627,474 577,026 Building Products 645,566 681,188 Sustainable Energy Solutions 120,978 114,084 Other 200,506 188,203 Total assets $ 3,390,660 $ 3,643,023

Acquisitions (Tables)

Acquisitions (Tables) - Level5 Tools, LLC	6 Months Ended
	Nov. 30, 2022
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of Level5, we identified and valued the following intangible assets: (in thousands) Category Amount Useful Life (Years) Trade name $ 13,500 Indefinite Customer relationships 13,300 10 Technological know-how 6,500 20 Non-compete agreement 280 3 Total acquired identifiable intangible assets $ 33,580
Schedule of Consideration Transferred for the Assets and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed	The following table summarizes the consideration transferred and the estimated fair value assigned to the assets acquired and liabilities assumed at the acquisition date. (in thousands) Preliminary Measurement Revised Cash and cash equivalents $ 1,515 $ - $ 1,515 Accounts receivable 2,860 - 2,860 Inventories 9,161 - 9,161 Prepaid expenses 64 - 64 Property, plant and equipment 273 - 273 Intangible assets 33,580 - 33,580 Operating lease assets 377 - 377 Total identifiable assets 47,830 - 47,830 Accounts payable ( 3,175 ) - ( 3,175 ) Accrued expenses ( 904 ) 151 ( 753 ) Current operating lease liabilities ( 111 ) - ( 111 ) Noncurrent operating lease liabilities ( 266 ) - ( 266 ) Net identifiable assets 43,374 151 43,525 Goodwill 15,947 - 15,947 Total purchase price 59,321 151 59,472 Less: Fair value of earnout ( 2,000 ) - ( 2,000 ) Plus: Net working capital deficit 282 ( 151 ) 131 Cash purchase price $ 57,603 $ - $ 57,603

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Nov. 30, 2022
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at November 30, 2022: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 140 Accounts payable $ 16,830 Other assets - Other liabilities 941 140 17,771 Foreign currency exchange contracts Other assets 258 Accounts payable - Total $ 398 $ 17,771 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,622 Accounts payable $ 2,155 Other assets 18 Other liabilities 275 4,640 2,430 Foreign currency exchange contracts Receivables - Accounts payable 94 Total $ 4,640 $ 2,524 Total derivative financial instruments $ 5,038 $ 20,295 The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at May 31, 2022: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 1,040 Accounts payable $ 4,517 Other assets - Other liabilities 48 1,040 4,565 Foreign currency exchange contracts Receivables - Accounts payable - Other assets - Other liabilities 17 - 17 Total $ 1,040 $ 4,582 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 11,555 Accounts payable $ 4,142 Other assets 48 Other liabilities 24 11,603 4,166 Foreign currency exchange contracts Receivables - Accounts payable 255 Total $ 11,603 $ 4,421 Total derivative financial instruments $ 12,643 $ 9,003
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative financial instruments outstanding at November 30, 2022: Notional (in thousands) Amount Maturity Date(s) Commodity contracts $ 5,100 December 2022 - December 2023 Foreign currency exchange contracts $ 15,096 December 2022
Schedule of Derivative Financials Designated as Cash Flow Hedging Instruments	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from Accumulated Other Comprehensive Income (Loss) (“AOCI”) into net earnings for derivative financial instruments designated as cash flow hedges for the periods presented: (in thousands) Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified For the three months ended November 30, 2022: Commodity contracts $ ( 19,641 ) Cost of goods sold $ ( 13,648 ) Interest rate contracts - Interest expense ( 7 ) Foreign currency exchange contracts 376 Net sales/Cost of goods sold 53 Total $ ( 19,265 ) $ ( 13,602 ) For the three months ended November 30, 2021: Commodity contracts $ ( 21,002 ) Cost of goods sold $ 47,706 Interest rate contracts - Interest expense 27 Foreign currency exchange contracts 60 Miscellaneous income, net 3 Total $ ( 20,942 ) $ 47,736 For the six months ended November 30, 2022: Commodity contracts $ ( 36,099 ) Cost of goods sold $ ( 13,192 ) Interest rate contracts - Interest expense ( 13 ) Foreign currency exchange contracts 58 Net sales/Cost of goods sold ( 74 ) Total $ ( 36,041 ) $ ( 13,279 ) For the six months ended November 30, 2021: Commodity contracts $ 14,218 Cost of goods sold $ 83,165 Interest rate contracts - Interest expense ( 13 ) Foreign currency exchange contracts 61 Miscellaneous income, net 3 Total $ 14,279 $ 83,155
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized In Earnings for the Location of Gain (Loss) Three Months Ended November 30, (in thousands) Recognized in Earnings 2022 2021 Commodity contracts Cost of goods sold $ 3,861 $ ( 10,135 ) Foreign currency exchange contracts Miscellaneous income, net ( 47 ) ( 588 ) Total $ 3,814 $ ( 10,723 ) Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Six Months Ended November 30, (in thousands) Recognized in Earnings 2022 2021 Commodity contracts Cost of goods sold $ 2,284 $ ( 19,392 ) Foreign currency exchange contracts Miscellaneous income, net ( 141 ) ( 249 ) Total $ 2,143 $ ( 19,641 )
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at November 30, 2022: Notional (in thousands) Amount Maturity Date Commodity contracts $ 114,516 December 2022 - December 2023 Foreign currency exchange contracts $ 1,751 January 2023 - July 2023

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Nov. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At November 30, 2022, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 5,038 $ - $ 5,038 Total assets $ - $ 5,038 $ - $ 5,038 Liabilities Derivative financial instruments (1) $ - $ 20,295 $ - $ 20,295 Total liabilities $ - $ 20,295 $ - $ 20,295 At May 31, 2022, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 12,643 $ - $ 12,643 Total assets $ - $ 12,643 $ - $ 12,643 Liabilities Derivative financial instruments (1) $ - $ 9,003 $ - $ 9,003 Total liabilities $ - $ 9,003 $ - $ 9,003 (1) The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note Q – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments.
Assets Measured at Fair Value on Non-Recurring Basis	At May 31, 2022, our assets measured at fair value on a non-recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Long-lived assets held for sale (1) $ - $ 700 $ - $ 700 Total assets $ - $ 700 $ - $ 700 (1) Comprised of production equipment at our Twinsburg, Ohio facility with an estimated fair market value of $ 700,000 .

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Nov. 30, 2022 USD ($) Jointventure	Nov. 30, 2022 USD ($) Jointventure
Significant Accounting Policies [Line Items]
Separation costs | $	$ 9,246,000	$ 9,246,000
Joint Venture Transactions
Significant Accounting Policies [Line Items]
Number of operating joint ventures | Jointventure	3	3
Spartan | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	52%	52%
TWB | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	55%	55%
Samuel | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	63%	63%

Inventory - Additional Informat

Inventory - Additional Information (Detail) - USD ($)	3 Months Ended
	Nov. 30, 2022	Aug. 31, 2022
Steel Processing
Inventory [Line Items]
Lower of cost or net realizable value adjustment	$ 0	$ 4,488,000

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product Class and Timing (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2022		Nov. 30, 2021		Nov. 30, 2022	Nov. 30, 2021
Disaggregation Of Revenue [Line Items]
Net sales	$ 1,175,541		$ 1,232,861		$ 2,584,206	$ 2,343,679
Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	841,947		937,842		1,880,827	1,760,652
Direct | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	807,259		900,666		1,809,394	1,688,694
Toll | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	34,688		37,176		71,433	71,958
Toll | Steel Processing | Over time revenue
Disaggregation Of Revenue [Line Items]
Net sales	34,688		37,176		71,433	71,958
Building Products
Disaggregation Of Revenue [Line Items]
Net sales	141,671	[1]	121,125	[1]	291,994	235,868
Consumer products
Disaggregation Of Revenue [Line Items]
Net sales	153,795	[1]	140,793	[1]	342,497	288,576
Sustainable Energy Solutions
Disaggregation Of Revenue [Line Items]
Net sales	$ 38,128	[1]	$ 33,101	[1]	$ 68,888	$ 58,583
[1] The products contained within each of these operating segments have similar production processes, require substantially the same raw materials, use similar equipment, and serve similar purposes. Therefore, we believe the products within each of these segments are appropriately combined for purposes of the disclosure requirements prescribed by Accounting Standards Codification (“ASC”) Topic 280 and Topic 606.

Revenue Recognition - Summary o

Revenue Recognition - Summary of Unbilled Receivables (Detail) - USD ($) $ in Thousands	Nov. 30, 2022	May 31, 2022
Receivables
Unbilled Receivables And Contract Assets [Line Items]
Unbilled receivables	$ 3,192	$ 5,001

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 30, 2022	May 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Amount of performance obligation related to contracts with expected duration greater than one year	$ 0

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) - USD ($)		6 Months Ended
	Aug. 03, 2022	Nov. 30, 2022	May 31, 2022
Investments in and Advances to Affiliates [Line Items]
Distributions from unconsolidated affiliates		$ 129,766,000
Investments in unconsolidated affiliates		240,859,000	$ 327,381,000
Pre-tax loss on sale of equity		$ (15,759,000)
ArtiFlex
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		50%
Equity method investment ownership percentage sold	50%
Equity method investment sold amount after adjustments for closing debt and final net working capital	$ 42,086,000
Pre-tax loss on sale of equity	(15,759,000)
ArtiFlex | Real Property
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates	6,300,000
ArtiFlex | Ohio | Real Property
Investments in and Advances to Affiliates [Line Items]
Cash proceeds from sale of equity method investment	$ 6,000,000
ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		25%
Workhorse
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		20%
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		50%
WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		50%
Investments in unconsolidated affiliates		$ 91,643,000

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	Nov. 30, 2022	Nov. 30, 2021	May 31, 2022
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	$ 129,596				$ 129,596		$ 34,485
Total assets	3,390,660				3,390,660		3,643,023
Current liabilities	660,891				660,891		932,261
Short-term borrowings	4,935				4,935		47,997
Current maturities of long-term debt	257				257		265
Long-term debt	693,453				693,453		696,345
Other noncurrent liabilities	115,688				115,688		115,991
Equity	1,513,393				1,513,393		1,480,752
Total liabilities and equity	3,390,660				3,390,660		3,643,023
Net sales	1,175,541		$ 1,232,861		2,584,206	$ 2,343,679
Gross margin	105,763		184,591		275,137	403,965
Operating income	(7,014)		90,465		59,700	226,262
Depreciation and amortization	28,354		21,090		56,355	43,154
Income tax expense	4,131		31,226		23,629	71,376
Net earnings	19,505	$ 65,244	113,185	$ 141,475	84,749	254,660
Equity Method Investment, Nonconsolidated Investee, Other
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	41,768				41,768		68,563
Other current assets	911,881				911,881		1,148,029
Noncurrent assets	301,027				301,027		369,608
Total assets	1,254,676				1,254,676		1,586,200
Current liabilities	292,303				292,303		345,097
Short-term borrowings	10,000				10,000		5,943
Current maturities of long-term debt	36,110				36,110		33,054
Long-term debt	304,108				304,108		306,814
Other noncurrent liabilities	69,667				69,667		76,437
Equity	542,488				542,488		818,855
Total liabilities and equity	1,254,676				1,254,676		$ 1,586,200
Net sales	711,665		858,165		1,535,607	1,603,160
Gross margin	147,299		226,502		328,704	416,176
Operating income	107,356		184,779		245,183	330,767
Depreciation and amortization	6,864		7,848		15,052	16,075
Interest expense	3,910		2,711		6,590	5,172
Income tax expense	1,262		8,565		3,372	16,461
Net earnings	$ 105,183		$ 173,915		$ 238,421	$ 312,803

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment charge of long-lived assets	$ 0	$ 312,000	$ 0
Long Lived Assets Held for Sale
Impaired Long-Lived Assets Held and Used [Line Items]
Fixed asset net book value	1,562,000
Cleveland
Impaired Long-Lived Assets Held and Used [Line Items]
Net cash proceeds	$ 3,298,000

Goodwill and Long-Lived Assets

Goodwill and Long-Lived Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	Nov. 30, 2022	Jun. 02, 2022
Goodwill [Line Items]
Balance		$ 401,469
Balance	$ 412,971

Goodwill and Long-Lived Asset_2

Goodwill and Long-Lived Assets - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
		Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2022	Nov. 30, 2021	May 31, 2022
Impaired Long Lived Assets Held And Used [Line Items]
Goodwill		$ 412,971,000		$ 412,971,000		$ 401,469,000
Impairment of long-lived assets		0	$ 312,000		$ 0
Impairment of long-lived assets				312,000
Fair Value, Nonrecurring
Impaired Long Lived Assets Held And Used [Line Items]
Fair market value of assets		0		0		700,000
Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Impaired Long Lived Assets Held And Used [Line Items]
Fair market value of assets						700,000
Long Lived Assets Held for Sale
Impaired Long Lived Assets Held And Used [Line Items]
Fixed asset net book value		$ 1,562,000		$ 1,562,000
Long Lived Assets Held for Sale | Fair Value, Nonrecurring
Impaired Long Lived Assets Held And Used [Line Items]
Fair market value of assets	[1]					700,000
Long Lived Assets Held for Sale | Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Impaired Long Lived Assets Held And Used [Line Items]
Fair market value of assets	[1]					$ 700,000
[1] Comprised of production equipment at our Twinsburg, Ohio facility with an estimated fair market value of $ 700,000 .

Restructuring and Other Incom_3

Restructuring and Other Income, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Restructuring Cost and Reserve [Line Items]
Net gain on sale of assets	[1],[2]			$ 5,467
Restructuring and other income, net		$ (4,282)	$ (2,004)	(5,382)	$ (14,278)
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance				541
Expense (Income)				85
Payments				(605)
Ending Balance		$ 21		$ 21
[1] On June 14, 2022, we sold real property in Tulsa, Oklahoma, for net cash proceeds of $ 5,775,000 , resulting in a pre-tax gain of $ 1,177,000 . These assets had been excluded from the sale of our former oil & gas equipment business in January 2021. The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale. On October 31, 2022, the Company’s consolidated steel processing joint venture, WSP, sold its remaining manufacturing facility, located in Jackson, Michigan. Net proceeds of $ 21,277,000 were realized in connection with the transaction, of which $ 2,000,000 is being held in escrow for general representations and warranties. The transaction resulted in a pre-tax gain of $ 3,926,000 . The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale.

Restructuring and Other Incom_4

Restructuring and Other Income, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Parenthetical) (Detail) - USD ($)			3 Months Ended
	Oct. 31, 2022	Jun. 14, 2022	Nov. 30, 2022
Tulsa, Oklahoma
Restructuring Cost and Reserve [Line Items]
Net cash proceeds		$ 5,775,000
Pre-tax gain on sale of joint venture facility		$ 1,177,000
WSP Joint Venture
Restructuring Cost and Reserve [Line Items]
Net cash proceeds	$ 21,277,000
Amount held in escrow	2,000,000
Pre-tax gain on sale of joint venture facility	$ 3,926,000
Cleveland [Member]
Restructuring Cost and Reserve [Line Items]
Net cash proceeds			$ 3,298,000

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2022 USD ($)
Stand-by Letters of Credit
Guarantor Obligations [Line Items]
Letter of credit amount outstanding	$ 14,137,000
Drawn amount of letter of credit outstanding	0
Operating Lease of Aircraft
Guarantor Obligations [Line Items]
Maximum potential obligation	$ 17,524,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)			6 Months Ended
	Aug. 20, 2021	Feb. 16, 2018	Nov. 30, 2022	May 31, 2022
Debt And Receivables Securitization [Line Items]
Borrowings outstanding			$ 0
Short-term loan facilities			4,935,000	$ 47,997,000
Unsecured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity			$ 500,000,000
Maturity date	Aug. 20, 2026	Feb. 16, 2023
Line of credit facility, description			We maintain a $500,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders. On August 20, 2021, we amended and restated the Credit Facility, extending the final maturity from February 16, 2023 to August 20, 2026 while keeping in place the $500,000,000 aggregate commitments under the Credit Facility. Borrowings under the Credit Facility have maturities of up to one year. We have the option to borrow at rates equal to an applicable margin over the Daily LIBOR Rate, the Prime Rate of PNC Bank, National Association or the Overnight Bank Funding Rate.
Remaining borrowing capacity			$ 500,000,000
Unsecured Revolving Credit Facility | Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period			1 year
AR Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity			$ 175,000,000
Borrowings outstanding			0
Remaining borrowing capacity			175,000,000
Tempel China
Debt And Receivables Securitization [Line Items]
Short-term loan facilities			$ 4,935,000
Short-term loan maturity year			2023
Effective interest rate			3.50%

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Summary of Tax Effects on Each Component of OCI (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	Nov. 30, 2022	Nov. 30, 2021
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ 550		$ (4,507)		$ (8,970)	$ (8,124)
Foreign currency translation, tax	308		(365)		(273)	(723)
Foreign currency translation, net of tax	858		(4,872)		(9,243)	(8,847)
Pension liability adjustment, before tax	15				3,740
Pension liability adjustment, tax	(97)				(883)
Pension liability adjustment, net of tax	(82)				2,857
Cash flow hedges, before tax	(5,665)		(68,677)		(22,762)	(68,876)
Cash flow hedges, tax	1,665		15,691		5,462	15,591
Cash flow hedges, net of tax	(4,000)		(52,986)		(17,300)	(53,285)
Other comprehensive income (loss), before tax	(5,100)		(73,184)		(27,992)	(77,000)
Other comprehensive income (loss), tax	1,876		15,326		4,306	14,868
Other comprehensive income (loss)	$ (3,224)	$ (20,462)	$ (57,858)	$ (4,274)	$ (23,686)	$ (62,132)

Changes in Equity - Summary of

Changes in Equity - Summary of Changes in Equity by Component and in Total (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	Nov. 30, 2022	Nov. 30, 2021
Balance	$ 1,646,972	$ 1,613,962	$ 1,606,632	$ 1,551,695	$ 1,613,962	$ 1,551,695
Net earnings	19,505	65,244	113,185	141,475	84,749	254,660
Other comprehensive loss	(3,224)	(20,462)	(57,858)	(4,274)	(23,686)	(62,132)
Common shares issued, net of withholding tax	(649)	(3,466)	(2,694)	(4,091)
Common shares in non-qualified plans	298	136	257	89
Stock-based compensation	3,620	6,976	3,304	6,324
Purchases and retirement of common shares			(12,702)	(60,885)
Cash dividends declared	(15,470)	(15,418)	(14,154)	(14,504)
Dividends to noncontrolling interests	(11,760)		(2,879)	(9,197)
Balance	1,639,292	1,646,972	1,633,091	1,606,632	1,639,292	1,633,091
Additional Paid-in Capital
Balance	277,085	273,439	279,635	282,790	273,439	282,790
Common shares issued, net of withholding tax	(649)	(3,466)	(2,694)	(4,091)
Common shares in non-qualified plans	298	136	257	89
Stock-based compensation	3,620	6,976	3,304	6,324
Purchases and retirement of common shares			(1,297)	(5,477)
Balance	280,354	277,085	279,205	279,635	280,354	279,205
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balance	(43,312)	(22,850)	41,113	45,387	(22,850)	45,387
Other comprehensive loss	(3,224)	(20,462)	(57,858)	(4,274)
Balance	(46,536)	(43,312)	(16,745)	41,113	(46,536)	(16,745)
Retained Earnings
Balance	1,278,827	1,230,163	1,132,595	1,070,016	1,230,163	1,070,016
Net earnings	16,218	64,082	110,301	132,491
Purchases and retirement of common shares			(11,405)	(55,408)
Cash dividends declared	(15,470)	(15,418)	(14,154)	(14,504)
Balance	1,279,575	1,278,827	1,217,337	1,132,595	1,279,575	1,217,337
Parent
Balance	1,512,600	1,480,752	1,453,343	1,398,193	1,480,752	1,398,193
Net earnings	16,218	64,082	110,301	132,491
Other comprehensive loss	(3,224)	(20,462)	(57,858)	(4,274)
Common shares issued, net of withholding tax	(649)	(3,466)	(2,694)	(4,091)
Common shares in non-qualified plans	298	136	257	89
Stock-based compensation	3,620	6,976	3,304	6,324
Purchases and retirement of common shares			12,702	(60,885)
Cash dividends declared	15,470	(15,418)	14,154	(14,504)
Balance	1,513,393	1,512,600	1,479,797	1,453,343	1,513,393	1,479,797
Noncontrolling Interest
Balance	134,372	133,210	153,289	153,502	133,210	153,502
Net earnings	3,287	1,162	2,884	8,984
Dividends to noncontrolling interests	11,760		2,879	(9,197)
Balance	$ 125,899	$ 134,372	$ 153,294	$ 153,289	$ 125,899	$ 153,294

Changes in Equity - Summary o_2

Changes in Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 1,646,972	$ 1,606,632	$ 1,613,962	$ 1,551,695
Income tax effect		1,876	15,326	4,306	14,868
Balance		1,639,292	1,633,091	1,639,292	1,633,091
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(15,310)	1,779
Other comprehensive income (loss) before reclassifications				(8,970)	(8,124)
Income tax effect				(273)	(723)
Balance		(24,553)	(7,068)	(24,553)	(7,068)
Pension Liability Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(6,244)	(15,955)
Other comprehensive income (loss) before reclassifications				(1,034)
Reclassification adjustments to net earnings	[1]			4,774
Income tax effect				(883)
Balance		(3,387)	(15,955)	(3,387)	(15,955)
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(1,296)	59,563
Other comprehensive income (loss) before reclassifications				(36,041)	14,279
Reclassification adjustments to net earnings	[1]			13,279	(83,155)
Income tax effect				5,462	15,591
Balance		(18,596)	6,278	(18,596)	6,278
Accumulated Other Comprehensive Income (Loss), Net of Tax
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(43,312)	41,113	(22,850)	45,387
Other comprehensive income (loss) before reclassifications				(46,045)	6,155
Reclassification adjustments to net earnings	[1]			18,053	(83,155)
Income tax effect				4,306	14,868
Balance		$ (46,536)	$ (16,745)	$ (46,536)	$ (16,745)
[1] The statement of earnings classification of amounts reclassified to net earnings include: 1. Pension liability adjustment – During August 2022, we purchased (using pension plan assets) an annuity contract from a third-party insurance company to transfer approximately 31 % of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan as of the purchase date. As a result of this transaction: 1) we incurred a non-cash settlement charge of $ 4,774,000 within “Miscellaneous income (expense), net”; 2) we were relieved of all responsibility for these pension obligations; and 3) the insurance company is now required to pay and administer the retirement benefits owed to 220 benefi ciaries; and 2. Cash flow hedges – disclosed in “Note Q – Derivative Financial Instruments and Hedging Activities ”.

Changes in Equity - Summary o_3

Changes in Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - Gerstenslager Company	3 Months Ended
	Aug. 31, 2022 USD ($) Beneficiary
Accumulated Other Comprehensive Income (Loss) [Line Items]
Defined benefit plan, funded percentage	31%
Defined benefit plan, benefit obligation, non-cash settlement charge | $	$ 4,774,000
Number of beneficiaries owed | Beneficiary	220

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 24, 2022	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense		$ 4,547,000	$ 4,248,000	$ 8,783,000	$ 7,551,000
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted				84,400
Non-qualified stock option, per share weighted average price				$ 46.39
Non-qualified stock option, fair value, per share price				$ 16.36
Pre-tax stock-based compensation, period of recognition				3 years
Pre-tax stock-based compensation expense				$ 1,381,000
Service-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition				3 years
Pre-tax stock-based compensation expense				$ 15,216,000
Restricted common shares, granted				308,000
Restricted common shares, fair value per share				$ 51.09
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense				$ 2,695,000
Restricted common shares, granted				58,100
Pre-tax stock-based compensation, period of recognition				3 years
Market-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	3 years
Restricted common shares, granted	10,000
Common share awards vesting, minimum price per share	$ 65
Common share awards vesting, minimum consecutive days at stated price	90 days
Restricted common shares, fair value per share	$ 35.49
Pre-tax stock-based compensation	$ 355,000

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions To Value Stock Options (Detail) - Non-Qualified Stock Options	6 Months Ended
	Nov. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.33%
Expected volatility	41.63%
Risk-free interest rate	3.19%
Expected term (years)	6 years

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Assumptions Used to Determine Grant Date Fair Value of Market Based Restricted Common Shares (Details) - Market-Based Restricted Common Shares	Jun. 24, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield	2.67%
Expected volatility	43%
Risk-free interest rate	3.18%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate	23.70%	22.80%

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Numerator (basic & diluted):
Net earnings attributable to controlling interest - income available to common shareholders	$ 16,218	$ 110,301	$ 80,300	$ 242,792
Denominator:
Denominator for basic earnings share attributable to controlling interest - weighted average common shares	48,558	50,381	48,518	50,618
Effect of dilutive securities	772	833	775	914
Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares	49,330	51,214	49,293	51,532
Basic earnings per share attributable to controlling interest	$ 0.33	$ 2.19	$ 1.66	$ 4.80
Diluted earnings per share attributable to controlling interest	$ 0.33	$ 2.15	$ 1.63	$ 4.71

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Earnings Per Share [Abstract]
Shares excluded from computation of diluted earnings per share	138,100	54,500	127,492	47,352

Segment Operations - Financial

Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($)	3 Months Ended					6 Months Ended
	Nov. 30, 2022		Aug. 31, 2022	Nov. 30, 2021		Nov. 30, 2022		Nov. 30, 2021		May 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,175,541,000			$ 1,232,861,000		$ 2,584,206,000		$ 2,343,679,000
Impairment of long-lived assets	0		$ 312,000					0
Restructuring and other income, net	(4,282,000)			(2,004,000)		(5,382,000)		(14,278,000)
Miscellaneous income (expense), net	1,405,000			1,040,000		(3,681,000)		1,670,000
Equity in net income (loss) of unconsolidated affiliates	36,857,000			60,218,000		68,569,000		113,134,000
Adjusted EBIT	23,636,000			144,411,000		108,378,000		326,036,000
Total assets	3,390,660,000					3,390,660,000				$ 3,643,023,000
Steel Processing
Segment Reporting Information [Line Items]
Net sales	841,947,000			937,842,000		1,880,827,000		1,760,652,000
Impairment of long-lived assets						312,000
Restructuring and other income, net	(4,282,000)			(182,000)		(4,205,000)		(12,313,000)
Miscellaneous income (expense), net	850,000			17,000		1,035,000		47,000
Equity in net income (loss) of unconsolidated affiliates	1,906,000			8,823,000		3,676,000		18,172,000
Adjusted EBIT	(17,249,000)	[1],[2]		71,925,000	[3]	17,663,000	[4],[5]	179,617,000	[6]
Total assets	1,796,136,000					1,796,136,000				2,082,522,000
Consumer products
Segment Reporting Information [Line Items]
Net sales	153,795,000			140,793,000		342,497,000		288,576,000
Miscellaneous income (expense), net	(47,000)			159,000		(82,000)		209,000
Adjusted EBIT	13,473,000	[1],[2]		17,584,000	[3]	34,406,000	[4],[5]	38,140,000	[6]
Total assets	627,474,000					627,474,000				577,026,000
Building Products
Segment Reporting Information [Line Items]
Net sales	141,671,000			121,125,000		291,994,000		235,868,000
Miscellaneous income (expense), net	76,000			218,000		299,000		144,000
Equity in net income (loss) of unconsolidated affiliates	35,107,000			49,894,000		78,973,000		92,887,000
Adjusted EBIT	41,224,000	[1],[2]		54,718,000	[3]	93,959,000	[4],[5]	103,471,000	[6]
Total assets	645,566,000					645,566,000				681,188,000
Sustainable Energy Solutions
Segment Reporting Information [Line Items]
Net sales	38,128,000			33,101,000		68,888,000		58,583,000
Restructuring and other income, net								(143,000)
Miscellaneous income (expense), net	142,000			82,000		56,000		22,000
Adjusted EBIT	1,143,000	[1],[2]		796,000	[3]	(250,000)	[4],[5]	(1,760,000)	[6]
Total assets	120,978,000					120,978,000				114,084,000
Other
Segment Reporting Information [Line Items]
Restructuring and other income, net				(1,822,000)		(1,177,000)		(1,822,000)
Separation costs	9,246,000					9,246,000
Miscellaneous income (expense), net	384,000			564,000		(4,989,000)		1,248,000
Equity in net income (loss) of unconsolidated affiliates	(156,000)			1,501,000		(14,080,000)		2,075,000
Adjusted EBIT	(3,291,000)	[1],[2]		1,893,000	[3]	1,854,000	[4],[5]	1,479,000	[6]
Total assets	200,506,000					200,506,000				$ 188,203,000
Consolidated
Segment Reporting Information [Line Items]
Net sales	1,175,541,000			1,232,861,000		2,584,206,000		2,343,679,000
Impairment of long-lived assets						312,000
Restructuring and other income, net	(4,282,000)			(2,004,000)		(5,382,000)		(14,278,000)
Separation costs	9,246,000					9,246,000
Miscellaneous income (expense), net	1,405,000			1,040,000		(3,681,000)		1,670,000
Equity in net income (loss) of unconsolidated affiliates	36,857,000			60,218,000		68,569,000		113,134,000
Adjusted EBIT	$ 35,300,000	[1],[2]		$ 146,916,000	[3]	$ 147,632,000	[4],[5]	$ 320,947,000	[6]
[1] Excludes $ 525 in selling, general and administrative expense in Consumer Products related to incremental expense attributable to the Level5 earnout; excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 1,850 . Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 81 . Excludes a non-cash settlement charge of $ 4,774 in miscellaneous income (expense), net within Other to accelerate a portion of deferred pension cost as a result of a pension lift-out transaction executed with a third-party insurance company to transfer a portion of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to the third-party insurance company; excludes a loss of $ 15,759 in equity in net income (loss) of unconsolidated affiliates within Other related to the sale of the Company’s 50 % noncontrolling equity investment in ArtiFlex effective August 3, 2022; excludes $ 1,050 in selling, general and administrative expense in Consumer Products related to incremental compensation expense attributable to the Level5 earnout; and excludes $ 9,246 of Separation costs in Other related to direct and incremental costs incurred in connection with the anticipated Separation, including audit, advisory, and legal costs. Excludes the noncontrolling interest portion of the impairment charge and restructuring gains within Steel Processing of $ 1,734 . Excludes the noncontrolling interest portion of the restructuring gains within Steel Processing of $ 6,027 .

Segment Operations - Financia_2

Segment Operations - Financial Information for Reportable Segments (Parenthetical) (Detail) - USD ($)		3 Months Ended		6 Months Ended
	Aug. 03, 2022	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Segment Reporting Information [Line Items]
Non-cash settlement charge				$ 4,774,000
Loss on sale of equity investments				(15,759,000)
Incremental expenses of Earnout		$ 525,000		1,050,000
Impairment and restructuring charges (gains)		1,850,000	$ 81,000	1,734,000	$ 6,027,000
Consolidated
Segment Reporting Information [Line Items]
Separation costs		$ 9,246,000		$ 9,246,000
ArtiFlex
Segment Reporting Information [Line Items]
Loss on sale of equity investments	$ (15,759,000)
Percent of ownership interest held in unconsolidated affiliates		50%		50%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - Level5 Tools, LLC - USD ($)		3 Months Ended	6 Months Ended
	Jun. 02, 2022	Nov. 30, 2022	Nov. 30, 2022
Business Acquisition [Line Items]
Purchase price	$ 59,472,000
Earnout payment	2,000,000
Additional cash consideration provides on certain earnings targets	25,000,000
Earnout Agreement
Business Acquisition [Line Items]
Earnout payment	2,000,000
Earnout Agreement | Selling, General and Administrative Expense
Business Acquisition [Line Items]
Compensation expense		$ 525,000	$ 1,050,000
Preliminary Valuation
Business Acquisition [Line Items]
Purchase price	59,321,000
Earnout payment	$ 2,000,000

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition of Identifiable Intangible Assets (Detail) - Level5 Tools, LLC $ in Thousands	Jun. 02, 2022 USD ($)
Business Acquisition [Line Items]
Total acquired identifiable intangible assets	$ 33,580
Trade Name
Business Acquisition [Line Items]
Acquired indefinite lived intangible assets	13,500
Customer Relationships
Business Acquisition [Line Items]
Acquired finite lived intangible assets	$ 13,300
Useful Life (Years)	10 years
Technological Know How
Business Acquisition [Line Items]
Acquired finite lived intangible assets	$ 6,500
Useful Life (Years)	20 years
Non Compete Agreement
Business Acquisition [Line Items]
Acquired finite lived intangible assets	$ 280
Useful Life (Years)	3 years

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration Transferred and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed (Detail) - USD ($)	Jun. 02, 2022	Nov. 30, 2022	May 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 412,971,000	$ 401,469,000
Level5 Tools, LLC
Business Acquisition [Line Items]
Cash and cash equivalents	$ 1,515,000
Accounts receivable	2,860,000
Inventories	9,161,000
Prepaid expenses	64,000
Property, plant and equipment	273,000
Intangible assets	33,580,000
Operating lease assets	377,000
Total identifiable assets	47,830,000
Accounts payable	(3,175,000)
Accrued expenses	(753,000)
Current operating lease liabilities	(111,000)
Noncurrent operating lease liabilities	(266,000)
Net identifiable assets	43,525,000
Goodwill	15,947,000
Total purchase price	59,472,000
Less: Fair value of earnout	(2,000,000)
Plus: Net working capital deficit	131,000
Cash purchase price	57,603,000
Level5 Tools, LLC | Preliminary Valuation
Business Acquisition [Line Items]
Cash and cash equivalents	1,515,000
Accounts receivable	2,860,000
Inventories	9,161,000
Prepaid expenses	64,000
Property, plant and equipment	273,000
Intangible assets	33,580,000
Operating lease assets	377,000
Total identifiable assets	47,830,000
Accounts payable	(3,175,000)
Accrued expenses	(904,000)
Current operating lease liabilities	(111,000)
Noncurrent operating lease liabilities	(266,000)
Net identifiable assets	43,374,000
Goodwill	15,947,000
Total purchase price	59,321,000
Less: Fair value of earnout	(2,000,000)
Plus: Net working capital deficit	282,000
Cash purchase price	57,603,000
Level5 Tools, LLC | Measurement Period Adjustments
Business Acquisition [Line Items]
Accrued expenses	151,000
Net identifiable assets	151,000
Total purchase price	151,000
Plus: Net working capital deficit	$ (151,000)

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Nov. 30, 2022	May 31, 2022
Derivative [Line Items]
Asset Derivatives at Fair Value	$ 5,038	$ 12,643
Liability Derivatives at Fair Value	20,295	9,003
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	398	1,040
Liability Derivatives at Fair Value	17,771	4,582
Derivatives Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	4,640	1,040
Liability Derivatives at Fair Value	2,430	4,565
Derivatives Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	16,830	4,517
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	140	1,040
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	941	48
Derivatives Designated As Hedging Instruments | Foreign Currency Exchange Contracts
Derivative [Line Items]
Liability Derivatives at Fair Value		17
Derivatives Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value	258
Derivatives Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value		17
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	4,640	11,603
Liability Derivatives at Fair Value	2,524	4,421
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	140	11,603
Liability Derivatives at Fair Value	17,771	4,166
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	2,155	4,142
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	4,622	11,555
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value	18	48
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	275	24
Derivatives Not Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	$ 94	$ 255

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Nov. 30, 2022	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Impact to fair value of derivative assets and liabilities as a result of recognition on a gross basis	$ 6,739,000	$ 6,300,000
Gains in accumulated other comprehensive income expected to be reclassified into net earnings	18,807,000
Gains in accumulated other comprehensive income expected to be reclassified into net earnings, tax	$ 5,918,000

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Derivative [Line Items]
Notional Amount	$ 3,814	$ (10,723)	$ 2,143	$ (19,641)
Commodity Contracts | Minimum [Member] | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date			Dec. 31, 2022
Notional Amount			$ 5,100
Commodity Contracts | Maximum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date			Dec. 31, 2023
Foreign Currency Exchange Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date			Dec. 31, 2022
Notional Amount			$ 15,096
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	114,516		$ 114,516
Cash Flow Hedges | Commodity Contracts | Minimum [Member]
Derivative [Line Items]
Maturity Date			Dec. 31, 2022
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date			Dec. 31, 2023
Cash Flow Hedges | Foreign Currency Exchange Contracts
Derivative [Line Items]
Notional Amount	$ 1,751		$ 1,751
Cash Flow Hedges | Foreign Currency Exchange Contracts | Minimum [Member]
Derivative [Line Items]
Maturity Date			Jan. 31, 2023
Cash Flow Hedges | Foreign Currency Exchange Contracts | Maximum
Derivative [Line Items]
Maturity Date			Jul. 31, 2023

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Schedule of Derivative Financials Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (19,265)	$ (20,942)	$ (36,041)	$ 14,279
Gain (Loss) Reclassified from AOCI into Net Earnings	(13,602)	47,736	(13,279)	83,155
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	(19,641)	(21,002)	(36,099)	14,218
Gain (Loss) Reclassified from AOCI into Net Earnings	(13,648)	47,706	(13,192)	83,165
Interest Rate Contract
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings	(7)	27	(13)	(13)
Foreign Currency Exchange Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	376	60	58	61
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 53	$ (3)	$ (74)	$ 3

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ 3,814	$ (10,723)	$ 2,143	$ (19,641)
Commodity Contracts | Cost of Sales
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	3,861	(10,135)	2,284	(19,392)
Foreign Currency Exchange Contracts | Miscellaneous Income, Net
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ (47)	$ (588)	$ (141)	$ (249)

Fair Value - Schedule of Assets

Fair Value - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Nov. 30, 2022	May 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		$ 5,038	$ 12,643
Liabilities		20,295	9,003
Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	5,038	9,003
Liabilities	[1]	20,295	12,643
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		5,038	12,643
Liabilities		20,295	9,003
Fair Value, Inputs, Level 2 | Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	5,038	9,003
Liabilities	[1]	$ 20,295	$ 12,643
[1] The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note Q – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments.

Fair Value - Assets Measured at

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Nonrecurring - USD ($)		Nov. 30, 2022	May 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure		$ 0	$ 700,000
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure			700,000
Long Lived Assets Held for Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	[1]		700,000
Long Lived Assets Held for Sale | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	[1]		$ 700,000
[1] Comprised of production equipment at our Twinsburg, Ohio facility with an estimated fair market value of $ 700,000 .

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail)	May 31, 2022 USD ($)
Long Lived Assets Held And Used | Production Equipment | Twinsburg
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair market value of assets	$ 700,000

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($)	Nov. 30, 2022	May 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 646,856,000	$ 684,830,000
Long-term debt at carrying amount including current maturities	$ 693,710,000	$ 696,610,000