Worthington Industries (WOR) 10-Q 9 Apr 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Feb. 29, 2024	Apr. 03, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 29, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON ENTERPRISES, 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 West 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		50,146,357
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 29, 2024	May 31, 2023
Current assets:
Cash and cash equivalents	$ 227,310	$ 422,268
Receivables, less allowances of $750 and $803 at Febryary 29, 2024 and May 31, 2023, respectively	219,389	224,863
Inventories:
Raw materials	74,929	91,988
Work in process	18,234	19,189
Finished products	98,553	83,322
Total inventories	191,716	194,499
Income taxes receivable	2,398	1,681
Prepaid expenses and other current assets	50,298	46,301
Current assets of discontinued operations		978,725
Total current assets	691,111	1,868,337
Investments in unconsolidated affiliates	120,707	138,041
Operating lease assets	21,285	24,686
Goodwill	345,445	336,178
Other intangible assets, net of accumulated amortization of $82,190 and $73,308 at February 29, 2024 and May 31, 2023, respectively	226,859	230,851
Other assets	30,900	14,339
Property, plant and equipment:
Land	12,203	12,120
Buildings and improvements	142,522	139,514
Machinery and equipment	417,777	403,885
Construction in progress	39,260	24,779
Total property, plant and equipment	611,762	580,298
Less: accumulated depreciation	343,380	323,883
Total property, plant and equipment, net	268,382	256,415
Non-current assets of discontinued operations		782,071
Total assets	1,704,689	3,650,918
Current liabilities:
Accounts payable	108,660	126,743
Accrued compensation, contributions to employee benefit plans and related taxes	47,657	46,782
Dividends payable	8,916	18,330
Other accrued items	29,697	37,801
Current operating lease liabilities	6,555	6,682
Income taxes payable	536	8,918
Current maturities of long-term debt	267	264
Current liabilities of discontinued operations		472,038
Total current liabilities	202,288	717,558
Other liabilities	76,300	71,766
Distributions in excess of investment in unconsolidated affiliate	116,775	117,297
Long-term debt	297,695	689,718
Non-current operating lease liabilities	15,103	18,326
Deferred income taxes, net	82,086	82,356
Non-current liabilities of discontinued operations		132,269
Total liabilities	790,247	1,829,290
Shareholders' equity - controlling interest	912,096	1,696,011
Noncontrolling interests	2,346	125,617
Total equity	914,442	1,821,628
Total liabilities and equity	$ 1,704,689	$ 3,650,918

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 29, 2024	May 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowances	$ 750	$ 803
Other intangible assets, accumulated amortization	$ 82,190	$ 73,308

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Income Statement [Abstract]
Net sales	[1]	$ 316,755	$ 346,315	$ 926,902	$ 1,049,694
Cost of goods sold		243,643	267,344	720,882	820,266
Gross profit		73,112	78,971	206,020	229,428
Selling, general and administrative expense		65,134	71,359	210,262	211,208
Impairment of long-lived assets		0	484	0	484
Restructuring and other expense (income), net	[1]	698	823	704	(354)
Separation costs		2,999	2,305	12,465	3,572
Operating income (loss)		4,281	4,000	(17,411)	14,518
Other income (expense):
Miscellaneous income (expense), net	[1]	(6,995)	217	(5,983)	(4,499)
Loss on extinguishment of debt				(1,534)
Interest expense, net		(50)	(4,186)	(1,596)	(15,689)
Equity in net income of unconsolidated affiliates	[1]	43,235	37,111	127,328	102,004
Earnings before income taxes		40,471	37,142	100,804	96,334
Income tax expense		18,471	7,391	34,041	20,709
Net earnings from continuing operations		22,000	29,751	66,763	75,625
Net earnings from discontinued operations			20,507	83,106	59,382
Net earnings		22,000	50,258	149,869	135,007
Net earnings attributable to noncontrolling interests			3,933	7,460	8,382
Net earnings attributable to controlling interest		22,000	46,325	142,409	126,625
Amounts attributable to controlling interest:
Net earnings from continuing operations		22,000	29,751	66,763	75,625
Net earnings from discontinued operations			16,574	75,646	51,000
Net earnings attributable to controlling interest		$ 22,000	$ 46,325	$ 142,409	$ 126,625
Earnings per share from continuing operations - basic		$ 0.45	$ 0.61	$ 1.36	$ 1.56
Earnings per share from discontinued operations - basic			0.34	1.54	1.05
Net earnings per share attributable to controlling interest - basic		0.45	0.95	2.9	2.61
Earnings per share from continuing operations - diluted		0.44	0.6	1.33	1.53
Earnings per share from discontinued operations - diluted			0.34	1.5	1.04
Net earnings per share attributable to controlling interest - diluted		$ 0.44	$ 0.94	$ 2.83	$ 2.57
Weighted average common shares outstanding - basic		49,315	48,587	49,113	48,541
Weighted average common shares outstanding - diluted		50,417	49,493	50,271	49,356
Cash dividends declared per common share		$ 0.16	$ 0.31	$ 0.8	$ 0.93
[1] A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 22,000	$ 50,258	$ 149,869	$ 135,007
Other comprehensive income (loss), net of tax
Foreign currency translation	(700)	1,563	1,643	(7,680)
Pension liability adjustment	6,805	323	6,802	3,180
Cash flow hedges	218	34,342	6,916	17,042
Other comprehensive income (loss)	6,323	36,228	15,361	12,542
Comprehensive income	28,323	86,486	165,230	147,549
Comprehensive income attributable to noncontrolling interests		3,933	7,460	8,382
Comprehensive income attributable to controlling interest	$ 28,323	$ 82,553	$ 157,770	$ 139,167

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Operating activities:
Net earnings		$ 22,000	$ 50,258	$ 149,869	$ 135,007
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		11,949	28,153	68,281	84,508
Impairment of long-lived assets			484	1,401	796
Provision for (benefit from) deferred income taxes		4,329	(5,525)	843	(20,198)
Loss on extinguishment of debt				1,534
Bad debt expense (income)		24	2,346	(430)	3,786
Equity in net income of unconsolidated affiliates, net of distributions		(2,926)	23,218	3,169	84,415
Net loss (gain) on sale of assets		(14)	46	(348)	(4,988)
Stock-based compensation		2,602	4,975	13,294	13,758
Changes in assets and liabilities, net of impact of acquisitions:
Receivables		(18,124)	3,382	49,737	160,475
Inventories		16,176	53,499	54,999	166,959
Accounts payable		15,561	6,627	(59,534)	(195,489)
Accrued compensation and employee benefits		7,190	(2,900)	(2,030)	(33,432)
Income taxes payable		(725)		(7,691)	(300)
Other operating items, net		(7,921)	17,588	(28,288)	833
Net cash provided by operating activities		50,121	182,151	244,806	396,130
Investing activities:
Investment in property, plant and equipment		(10,017)	(22,748)	(72,191)	(68,715)
Acquisitions, net of cash acquired		(8,707)		(29,721)	(56,088)
Proceeds from sale of assets, net of selling costs		35	51	837	35,545
Investment in note receivable		100		(14,900)
Investment in non-marketable equity securities		(75)	(20)	(1,614)	(270)
Net proceeds from sale of investment in ArtiFlex			(300)		35,795
Excess distributions from unconsolidated affiliate				1,085
Net cash used by investing activities		(18,664)	(23,017)	(116,504)	(53,733)
Financing activities:
Dividend from Worthington Steel at Separation		150,000		150,000
Distribution to Worthington Steel at Separation		(218,048)		(218,048)
Net proceeds from (repayments of) short-term borrowings	[1]		(1,330)	172,187	(44,392)
Principal payments on long-term obligations		(150,133)	(5,759)	(393,890)	(5,909)
Proceeds from issuance of common shares, net of tax withholdings		(1,023)	704	(15,360)	(3,411)
Payments to noncontrolling interests				(1,920)	(11,760)
Dividends paid		(15,849)	(15,101)	(48,907)	(44,166)
Net cash used by financing activities		(235,053)	(21,486)	(355,938)	(109,638)
Increase (decrease) in cash and cash equivalents		(203,596)	137,648	(227,636)	232,759
Cash and cash equivalents at beginning of period		430,906	129,596	454,946	34,485
Cash and cash equivalents at end of period		$ 227,310	$ 267,244	$ 227,310	$ 267,244
[1] Net proceeds in the nine months ended February 29, 2024 consisted of borrowings under short-term credit facilities assumed by Worthington Steel in conjunction with the Separation.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 22,000	$ 46,325	$ 142,409	$ 126,625

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Feb. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
	Feb. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation	Note A – Basis of Presentation Basis of Presentation These interim unaudited consolidated financial statements include the accounts of Worthington Enterprises and its consolidated subsidiaries. Significant intercompany accounts and transactions have been eliminated. Prior to the Separation, we owned controlling interests in the following four joint ventures: Spartan ( 52 %); TWB ( 55 %); Samuel ( 63 %); and WSP ( 51 %). These joint ventures were consolidated with the equity owned by the other joint venture members and shown as noncontrolling interests in our consolidated balance sheet at May 31, 2023, and their portions of net earnings and OCI are shown as net earnings from discontinued operations or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. As of the Separation, Spartan, TWB, Samuel and WSP became joint ventures of Worthington Steel and are no longer reported in our current results. On February 1, 2024, we acquired an 80 % controlling interest in Halo. See further discussion of Halo in “Note P – Acquisitions.” Investments in unconsolidated affiliates that we do not control are accounted for using the equity method with our proportionate share of income or loss recognized within Equity Income in our consolidated statements of earnings. See further discussion of our unconsolidated affiliates in “Note D – Investments in Unconsolidated Affiliates.” These interim unaudited consolidated financial statements have been prepared in accordance with GAAP 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 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 and nine months ended February 29, 2024 are not necessarily indicative of the results that may be expected for fiscal 2024. For further information, refer to the consolidated financial statements and notes thereto included in our 2023 Form 10-K. The preparation of consolidated financial statements in conformity with 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 materially from those estimates. Revenue Recognition We recognize all revenue at the point in time the performance obligation is satisfied and control of the product is transferred to the customer upon shipment or delivery. There were no contract assets or unbilled receivables at February 29, 2024. Unbilled receivables of $ 3,708 at May 31, 2023 were attributed to Worthington Steel and recorded in current assets of discontinued operations on the consolidated balance sheet. The Separation of Worthington Steel On December 1, 2023, we completed the previously announced Separation of our Steel Processing business segment into a separate public company in a transaction intended to qualify as tax free to our shareholders, which was accomplished via the distribution of 100 % of the outstanding common shares of Worthington Steel to holders of record of the Company’s common shares as of the close of business on November 21, 2023. Each holder of record received one share of Worthington Steel for every one share of the Company’s common stock held on the Record Date for the Distribution. Worthington Steel is an independent public company trading under the symbol “WS” on the NYSE. In connection with the Separation, we entered into several agreements with Worthington Steel, effective November 30, 2023, that, among other things, provide a framework for our relationship with Worthington Steel after the Separation, including a long-term Steel Supply Agreement, a Trademark License Agreement, and Transition Services Agreement. Pursuant to the long-term Steel Supply Agreement, Worthington Steel manufactures and supplies to us, at reasonable market rates, certain flat rolled steel products, and will provide us with certain related support services such as design, engineering/technical services, price risk management, scrap management, steel purchasing, supply chain optimization and product rework services, and other services at our request that are ancillary to the supply of the flat rolled steel products. Purchases from Worthington Steel under this agreement for the three and nine months ended February 29, 2024, totaled $ 20,274 , of which $ 10,702 was payable at February 29, 2024. We have incurred direct and incremental costs associated with the Separation, including approximately $ 30,986 and $ 15,593 during the nine months ended February 29, 2024, and February 28, 2023, respectively, of which $ 18,521 and $ 12,021 have been attributed to discontinued operations. These costs consisted primarily of third-party advisory fees and certain non-recurring employee-related costs and, to the extent not attributed to Worthington Steel, are presented as a separate component of operating expense in our consolidated statements of earnings and held at the corporate level.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Feb. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note B - Discontinued Operations The following table summarizes the assets and liabilities from discontinued operations at May 31, 2023: Assets Current assets: Cash and cash equivalents $ 32,678 Receivables, less allowances of $ 2,581 468,024 Inventories: Raw materials 172,580 Work in process 164,059 Finished products 76,830 Total inventories 413,469 Income taxes receivable 2,517 Prepaid expenses and other current assets 58,656 Assets held for sale 3,381 Total current assets 978,725 Investments in unconsolidated affiliates 114,550 Operating lease assets 75,281 Goodwill 78,642 Other intangible assets, net of accumulated amortization of $ 38,894 83,375 Other assets 10,984 Property, plant and equipment: Land 37,577 Buildings and improvements 169,155 Machinery and equipment 860,077 Construction in progress 20,386 Total property, plant and equipment 1,087,195 Less: accumulated depreciation 667,956 Total property, plant and equipment, net 419,239 Total assets $ 1,760,796 Liabilities Current liabilities: Accounts payable $ 402,177 Short-term borrowings 2,813 Accrued compensation, contributions to employee benefit plans and related taxes 47,028 Other accrued items 14,094 Current operating lease liabilities 5,926 Total current liabilities 472,038 Other liabilities 41,520 Noncurrent operating lease liabilities 71,656 Deferred income taxes, net 19,093 Total liabilities $ 604,307 The following table summarizes the financial results from the discontinued operations of Worthington Steel for the periods presented. There were no discontinued operations for the three months ended February 29, 2024. Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Net sales $ - $ 757,007 $ 1,670,027 $ 2,637,834 Cost of goods sold - 692,171 1,481,731 2,448,319 Gross profit - 64,836 188,296 189,515 Selling, general and administrative expense - 34,698 74,908 106,110 Impairment of long-lived assets - - 1,401 312 Restructuring and other expense (income) - 1 - ( 4,204 ) Separation costs - 4,042 18,521 12,021 Operating income - 26,095 93,466 75,276 Other income (expense): Miscellaneous income, net - 1,110 1,016 2,146 Interest expense, net - ( 1,849 ) ( 3,706 ) ( 6,557 ) Equity in net income of unconsolidated affiliate - ( 185 ) 12,735 3,491 Earnings before income taxes - 25,171 103,511 74,356 Income tax expense - 4,664 20,405 14,974 Net earnings - 20,507 83,106 59,382 Net earnings attributable to noncontrolling interest - 3,933 7,460 8,382 Net earnings attributable to controlling interest $ - $ 16,574 $ 75,646 $ 51,000 As permitted under GAAP, the cash flows related to discontinued operations have not been segregated in our consolidated statements of cash flows. Accordingly, the consolidated statements of cash flows include the results from both continuing and discontinued operations and amounts for certain captions will not agree with respective data in the consolidated balance sheet. We did not report any cash flows from discontinued operations during the three months ended February 29, 2024. The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statements of cash flows for the periods presented. There were no discontinued operations for the three months ended February 29, 2024. Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Significant non-cash operating items: Depreciation and amortization $ - $ 16,260 $ 32,043 $ 50,306 Impairment of long-lived assets - - 1,401 312 Equity in income of unconsolidated affiliate - 10,185 ( 12,734 ) 6,509 Net loss (gain) on sale of assets - 46 ( 412 ) ( 3,778 ) Stock-based compensation - 1,211 3,472 3,340 Significant investing activities: Investment in property, plant and equipment - ( 10,809 ) ( 33,457 ) ( 36,450 ) Acquisitions, net of cash acquired - - ( 21,013 ) - Significant financing activities: Net proceeds from short-term borrowings - - 172,187 -

Inventory

Inventory	9 Months Ended
	Feb. 29, 2024
Inventory Disclosure [Abstract]
Inventory	Note C - Inventory During the third quarter of fiscal 2024, we recognized lower of cost or net realizable charges totaling approximately $ 1,900 related to propane tanks imported from Europe that had higher than expected transportation costs. These charges were attributed to our Building Products operating segment and were recorded in cost of goods sold in the consolidated statement of earnings during the third quarter of fiscal 2024. During the second quarter of fiscal 2024, we initiated a recall with the U.S. Consumer Protection Safety Commission for our recently introduced Balloon Time® mini helium tank. We have reserved for the estimated direct and incremental costs expected to be incurred to administer the recall program, which we expect to be immaterial due to the small population of tanks purchased by end consumers. However, we booked a reserve of approximately $ 3,000 to reflect the impacted inventory at its estimated net realizable value. The adjustment was attributed to our Consumer Products operating segment and was recorded in cost of goods sold in the consolidated statement of earnings during the second quarter of fiscal 2024.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	9 Months Ended
	Feb. 29, 2024
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 and included the following at February 29, 2024: ClarkDietrich ( 25 %); WAVE ( 50 %); and Workhorse ( 20 %). We held a 50 % non-controlling interest in Serviacero prior to the Separation. Equity Income and the related investment have been presented as discontinued operations for all periods presented. We also held a 50 % noncontrolling equity interest in ArtiFlex, through August 3, 2022, when it was purchased by the unrelated joint venture partner. In connection with this transaction, we received net cash proceeds of approximately $ 35,795 and realized a pre-tax loss of $ 16,059 within Equity Income, representing the amount by which the book value of our investment exceeded the net cash proceeds. During the second quarter of fiscal 2024, we recognized a pre-tax gain of $ 2,780 within Equity Income in connection with the sale of Workhorse’s operations in Brazil. We received distributions from unconsolidated affiliates totaling $ 144,317 during the nine months ended February 29, 2024. We have received cumulative distributions from WAVE in excess of our investment balance amounting to $ 116,775 and $ 117,297 , respectively, at February 29, 2024 and May 31, 2023, which are presented separately within long-term liabilities in 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 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 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. During the nine months ended February 29, 2024, we classified $ 1,085 of “excess” dividends received from WAVE as an investing activity. The following tables summarize combined financial information for our unconsolidated affiliates included in continuing operations as of the dates, and for the periods presented: February 29, May 31, (In thousands) 2024 2023 Cash and cash equivalents $ 86,533 $ 36,988 Other current assets 574,099 661,700 Non-current assets 324,793 335,567 Total assets $ 985,425 $ 1,034,255 Current liabilities 312,235 176,959 Current maturities of long-term debt 20,500 36,936 Long-term debt 349,377 349,215 Other non-current liabilities 137,275 139,228 Equity 166,038 331,917 Total liabilities and equity $ 985,425 $ 1,034,255 Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, (In thousands) 2024 2023 2024 2023 Net sales $ 497,938 $ 511,663 $ 1,579,992 $ 1,727,225 Gross profit 171,497 154,980 492,812 467,664 Operating income 126,377 115,286 376,782 349,925 Depreciation and amortization 6,936 5,662 21,737 18,559 Interest expense 4,943 4,476 15,220 10,920 Income tax expense 549 791 1,900 1,604 Net earnings 119,982 111,505 360,748 342,574

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	9 Months Ended
	Feb. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Long-Lived Assets	Note E – Impairment of Long-Lived Assets During the third quarter of fiscal 2023, we determined that certain assets associated with a capital project at our Building Products facility in Jefferson, Ohio, were impaired. These assets were determined to have no alternative use and were written down to their estimated salvage value of approximately $ 70 resulting in an impairment charge of $ 484 during the three months ended February 28, 2023. Our Sustainable Energy Solutions business continues to operate in a challenging market, driven by continued weakness in overall economic conditions in Europe as well as slow adoption of hydrogen and CNG transportation applications. Management continues to focus on near term cost controls while making investments necessary to maintain its position as a global solutions provider with the scale and expertise to effectively serve the emerging sustainability economy worldwide. We believe the overall long-term outlook for the business is positive and project sufficient future cash flows to support the current carrying value of the business. However, it is at least reasonably possible that continued lower-than-expected volumes and financial results, or a decision to explore strategic alternatives, could change our determination that the assets are not impaired.

Restructuring and Other Income,

Restructuring and Other Income, Net	9 Months Ended
	Feb. 29, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Income, Net	Note F – Restructuring and Other Expense, Net We consider restructuring activities to be programs whereby we fundamentally change our operations, such as divestitures, closing or consolidating facilities, employee severance (including rationalizing headcount or other significant changes in personnel), and realignment of existing operations (including changes to management structure in response to underlying performance and/or 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 nine months ended February 28, 2024 is summarized below: (In thousands) Balance, as of May 31, 2023 Expense Payments Balance, as of February 29, 2024 Early retirement and severance $ 135 $ 704 $ ( 253 ) $ 586 The total liability associated with our restructuring activities as of February 29, 2024 is expected to be paid in the next 12 months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	9 Months Ended
	Feb. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Note G – Contingent Liabilities and Commitment s 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	9 Months Ended
	Feb. 29, 2024
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, at February 29, 2024, we were party to an operating lease for an aircraft in which we have guaranteed a residual value at the termination of the lease on March 30, 2028. The maximum obligation under the terms of this guarantee was approximately $ 15,796 at February 29, 2024. Based on current facts and circumstances, we have estimated the likelihood of payment pursuant to this guarantee is not probable and, therefore, no amount has been recognized in our consolidated financial statements. At February 29, 2024, we also had in place $ 12,137 of outstand ing stand-by letters of credit issued to third-party service providers. The fair value of these guaranteed instruments, based on premiums paid, was not material and no amounts were drawn against them at February 29, 2024.

Debt and Receivables Securitiza

Debt and Receivables Securitization	9 Months Ended
	Feb. 29, 2024
Debt Disclosure [Abstract]
Debt and Receivables Securitization	Note I – Debt and Receivables Securitization The following table summarizes our long-term debt outstanding at February 29, 2024 and May 31, 2023: February 29, May 31, (In thousands) 2024 2023 2024 Notes - 150,000 2026 Notes - 243,623 4.30 % senior notes due August 1, 2032 200,000 200,000 2.06 % Series A senior note due August 23, 2031 39,654 39,226 2.40 % Series B senior notes due August 23, 2034 59,427 58,786 Other 267 528 Total debt 299,348 692,163 Unamortized discount and debt issuance costs ( 1,386 ) ( 2,181 ) Total debt, net 297,962 689,982 Less: current maturities and short-term borrowings 267 264 Total long-term debt $ 297,695 $ 689,718 Maturities of long-term debt are as follows: (In thousands) 2025 $ 267 2026 - 2027 - 2028 - 2029 - Thereafter 299,081 Total $ 299,348 Long-Term Debt On April 15, 2014, we issued the 2026 Notes. During fiscal 2023, we purchased approximately $ 6,377 of the principal amount of the 2026 Notes in open market transactions, leaving $ 243,623 within long-term debt at May 31, 2023. On June 29, 2023, we notified the trustee under the indenture to which the 2026 Notes are subject that we had elected to redeem in full the 2026 Notes. On July 28, 2023, we redeemed, in full, the 2026 Notes at a price that approximated the par value of the debt of $ 243,623 . In connection with the debt redemption, we recognized a non-cash loss of $ 1,534 related primarily to unamortized debt issuance costs and amounts deferred in AOCI associated with an interest rate swap executed prior to the issuance of the 2026 Notes. Other Financing Arrangements On September 27, 2023, we amended and restated the Credit Facility, extending the final maturity from August 20, 2026 to September 27, 2028 , while keeping in place the $ 500,000 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 Simple SOFR, the Prime Rate of PNC Bank, National Association or the Overnight Bank Funding Rate. The applicable margin is determined by our Total Leverage Ratio. There were no b orrowings outstanding under the Credit Facility at February 29, 2024, leaving $ 500,000 available for use. On May 19, 2022, we entered into the five-year AR Facility that allowed for short-term borrowings of up to $ 175,000 through the factoring and subsequent sale, on a revolving basis, of eligible accounts receivable of certain of our subsidiaries to Worthington Receivables Company, LLC, a wholly-owned, consolidated, bankruptcy-remote indirect subsidiary. On June 29, 2023, we elected to terminate the AR Facility. No early termination or other similar fees or penalties were paid in connection with the termination.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Feb. 29, 2024
Equity [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 February 29, 2024 February 28, 2023 (In thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 615 ) $ ( 85 ) $ ( 700 ) $ 1,421 $ 142 $ 1,563 Pension liability adjustment 8,927 ( 2,122 ) 6,805 415 ( 92 ) 323 Cash flow hedges 564 ( 346 ) 218 43,963 ( 9,621 ) 34,342 Other comprehensive income (loss) $ 8,876 $ ( 2,553 ) $ 6,323 $ 45,799 $ ( 9,571 ) $ 36,228 Nine Months Ended February 29, 2024 February 28, 2023 (In thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ 1,555 $ 88 $ 1,643 $ ( 7,549 ) $ ( 131 ) $ ( 7,680 ) Pension liability adjustment 8,927 ( 2,125 ) 6,802 4,155 ( 975 ) 3,180 Cash flow hedges 9,140 ( 2,224 ) 6,916 21,201 ( 4,159 ) 17,042 Other comprehensive income (loss) $ 19,622 $ ( 4,261 ) $ 15,361 $ 17,807 $ ( 5,265 ) $ 12,542

Changes in Equity

Changes in Equity	9 Months Ended
	Feb. 29, 2024
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 Additional Non- Paid-in AOCI, Retained controlling (In thousands) Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2023 $ 290,799 $ ( 23,179 ) $ 1,428,391 $ 1,696,011 $ 125,617 $ 1,821,628 Net earnings - - 96,106 96,106 3,597 99,703 Other comprehensive loss - ( 5,408 ) - ( 5,408 ) - ( 5,408 ) Common shares issued, net of withholding tax ( 5,130 ) - - ( 5,130 ) - ( 5,130 ) Common shares in non-qualified plans 130 - - 130 - 130 Stock-based compensation 8,995 - - 8,995 - 8,995 Cash dividends declared - - ( 16,081 ) ( 16,081 ) - ( 16,081 ) Dividends to noncontrolling interests - - - - ( 1,921 ) ( 1,921 ) Balance at August 31, 2023 $ 294,794 $ ( 28,587 ) $ 1,508,416 $ 1,774,623 $ 127,293 $ 1,901,916 Net earnings - - 24,302 24,302 3,865 28,167 Other comprehensive income - 14,446 - 14,446 - 14,446 Common shares issued, net of withholding tax ( 9,207 ) - - ( 9,207 ) - ( 9,207 ) Common shares in non-qualified plans 195 - - 195 - 195 Stock-based compensation 4,511 - - 4,511 - 4,511 Cash dividends declared - - ( 16,061 ) ( 16,061 ) - ( 16,061 ) Dividends to noncontrolling interests - - - - - - Balance at November 30, 2023 $ 290,293 $ ( 14,141 ) $ 1,516,657 $ 1,792,809 $ 131,158 $ 1,923,967 Net earnings - - 22,000 22,000 - 22,000 Other comprehensive income - 6,323 - 6,323 - 6,323 Common shares issued, net of withholding tax ( 1,023 ) - - ( 1,023 ) - ( 1,023 ) Common shares in non-qualified plans 53 - - 53 - 53 Stock-based compensation 2,071 - - 2,071 - 2,071 Separation of Worthington Steel - ( 717 ) ( 901,370 ) ( 902,087 ) ( 128,812 ) ( 1,030,899 ) Cash dividends declared - - ( 8,050 ) ( 8,050 ) - ( 8,050 ) Balance at February 29, 2024 $ 291,394 $ ( 8,535 ) $ 629,237 $ 912,096 $ 2,346 $ 914,442 Controlling Interest Additional Non- Paid-in AOCI, Retained controlling (In thousands) Capital Net of Tax Earnings Subtotal 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 interests - - - - ( 11,760 ) ( 11,760 ) Balance at November 30, 2022 $ 280,354 $ ( 46,536 ) $ 1,279,575 $ 1,513,393 $ 125,899 $ 1,639,292 Net earnings - - 46,325 46,325 3,933 50,258 Other comprehensive income - 36,228 - 36,228 - 36,228 Common shares issued, net of withholding tax 704 - - 704 - 704 Common shares in non-qualified plans 107 - - 107 - 107 Stock-based compensation 3,818 - - 3,818 - 3,818 Cash dividends declared - - ( 15,149 ) ( 15,149 ) - ( 15,149 ) Balance at February 28, 2023 $ 284,983 $ ( 10,308 ) $ 1,310,751 $ 1,585,426 $ 129,832 $ 1,715,258 The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow (In thousands) Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) Other comprehensive income before reclassifications 1,555 60 14,893 16,508 Reclassification adjustments to net earnings (a)(b) - 8,867 ( 5,753 ) 3,114 Income tax effect 88 ( 2,125 ) ( 2,224 ) ( 4,261 ) Separation of Worthington Steel 10,874 ( 5,984 ) ( 5,607 ) ( 717 ) Balance at February 29, 2024 $ ( 9,606 ) $ ( 912 ) $ 1,983 $ ( 8,535 ) Foreign Pension Currency Liability Cash Flow (In thousands) Translation Adjustment Hedges AOCI Balance at May 31, 2022 $ ( 15,310 ) $ ( 6,244 ) $ ( 1,296 ) $ ( 22,850 ) Other comprehensive loss before reclassifications ( 7,549 ) ( 619 ) ( 2,999 ) ( 11,167 ) Reclassification adjustments to net earnings (a)(b) - 4,774 24,200 28,974 Income tax effect ( 131 ) ( 975 ) ( 4,159 ) ( 5,265 ) Balance at February 28, 2023 $ ( 22,990 ) $ ( 3,064 ) $ 15,746 $ ( 10,308 ) The consolidated statement of earnings classification of amounts reclassified to net income include: (a) Cash flow hedges – Disclosure of reclassification adjustments classified within continuing operations is provided in “Note Q – Derivative Financial Instruments and Hedging Activities.” The residual amount relates to Worthington Steel and has been presented within discontinued operations. (b) Pension liability adjustment – Reflects the acceleration of deferred pension costs in AOCI related to separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Feb. 29, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note L – Stock-Based Compensation The Separation of the Steel Processing Business In connection with the Separation, we adjusted our outstanding share-based awards in accordance with the terms of the Employee Matters Agreement. Adjustments to the underlying shares and terms of outstanding non-qualified stock options, services-based restricted common shares, and performance share awards were made to preserve the intrinsic value of the awards immediately before the Separation. The adjustment of the underlying shares and exercise prices, as applicable, was determined using a ratio based on the relative values of our pre-Distribution common share price and our post-Distribution common share price. Non-Qualified Stock Options The table below summarizes our stock option activity during the nine months ended February 29, 2024: Weighted Average Stock Exercise (In thousands, except per common share amounts) Options Price Outstanding - June 1, 2023 573 $ 42.61 Converted to Worthington Steel common shares (1) ( 61 ) 51.44 Separation related adjustment 254 - Granted 58 68.68 Exercised ( 126 ) 39.73 Forfeited ( 7 ) 45.91 Outstanding - February 29, 2024 691 $ 28.83 (1) Effective as of the Distribution, each outstanding stock option held by a then-current or former employee or service provider of Worthington Steel was converted into a stock option denominated in the common shares of Worthington Steel. During the nine months ended February 29, 2024, we granted non-qualified stock options covering a total of 58 common shares under our stock-based compensation plans. For each grant, the exercise price was equal to the closing market price of the underlying common shares at the respective grant date. The weighted average fair value of these non-qualified stock options, based on the Black-Scholes option-pricing model, calculated at the grant date, was $ 25.61 per share. The calculated pre-tax stock-based compensation expense for these non-qualified stock options was $ 1,485 and will be recognized on a straight-line basis over the three-year vesting period, net of any forfeitures. The weighted average fair value of stock options granted during the nine months ended February 29, 2024 was based on the following assumptions: Dividend yield 2.34 % Expected volatility 42.62 % Risk-free interest rate 4.04 % Expected term (years) 6.0 Expected volatility is based on the historical volatility of the common shares and the risk-free interest rate is based on the U.S. Treasury strip rate for the expected term of the non-qualified stock options. The expected term was developed using historical exercise experience. Service-Based Restricted Common Shares During the nine months ended February 29, 2024, we granted an aggregate of 214 service-based restricted common shares under our stock-based compensation plans, which cliff vest three years from the 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 grant date, or $ 64.57 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares was $ 13,831 and will be recognized on a straight-line basis over the three-year vesting period, net of any forfeitures. The table below sets forth the service-based restricted common shares for the nine months ended February 29, 2024: Weighted Restricted Average Common Grant Date (In thousands, except per common share amounts) Shares Fair Value Outstanding - June 1, 2023 800 $ 47.39 Converted to Worthington Steel common shares (1) ( 296 ) 55.70 Separation related adjustment 220 - Granted 214 64.57 Vested ( 337 ) 39.17 Forfeited ( 20 ) 47.07 Outstanding - February 29, 2024 581 $ 36.34 (1) Effective as of the Distribution, each restricted stock award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel common shares. 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, EPS growth and, in the case of business unit executives, a business unit adjusted EBITDA target, in each case for the three-year periods ending May 31, 2024, 2025 and 2026. These performance share awards will be paid, to the extent earned, in common shares 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. 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. The table summarizes our performance activity for the nine months ended February 29, 2024. Weighted Restricted Average Common Grant Date (In thousands, except per common share amounts) Shares Fair Value Outstanding - June 1, 2023 172 $ 46.37 Converted to Worthington Steel common shares (1) ( 39 ) 56.99 Separation related adjustment 58 - Granted 113 52.73 Vested ( 131 ) 39.93 Forfeited ( 25 ) 36.02 Outstanding - February 29, 2024 148 $ 37.70 (1) Effective as of the Distribution, each performance share award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel shares.

Income Taxes

Income Taxes	9 Months Ended
	Feb. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note M – Income Taxes Income tax expense for the nine months ended February 29, 2024 and February 28, 2023 reflected estimated annual effective income tax rates of 30.8 % and 22.6 %, respectively. Income tax expense in the current year period was impacted by certain discrete tax items triggered by the Separation, which were primarily non-deductible transaction costs. Our actual effective income tax rate for fiscal 2024 could be materially different from the forecasted rate as of February 29, 2024.

Earnings per Share

Earnings per Share	9 Months Ended
	Feb. 29, 2024
Earnings Per Share [Abstract]
Earnings per Share	Note N – Earnings per Share The following table sets forth the computation of basic and diluted EPS attributable to controlling interest for the periods presented: Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, (In thousands, except per common share amounts) 2024 2023 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations $ 22,000 $ 29,751 $ 66,763 $ 75,625 Denominator: Denominator for basic EPS from continuing operations - Weighted average common shares 49,315 48,587 49,113 48,541 Effect of dilutive securities 1,102 906 1,158 815 Denominator for diluted EPS from continuing operations - Weighted average common shares 50,417 49,493 50,271 49,356 Basic EPS from continuing operations $ 0.45 $ 0.61 $ 1.36 $ 1.56 Diluted EPS from continuing operations $ 0.44 $ 0.60 $ 1.33 $ 1.53 Stock options covering an aggregate of 55 and 94 common shares for the three months ended February 29, 2024 and February 28, 2023, respectively, and 61 and 89 common shares for the nine months ended February 29, 2024 and February 28, 2023, respectively, have been excluded from the computation of diluted EPS because the effect would have been anti-dilutive for those periods.

Segment Operations

Segment Operations	9 Months Ended
	Feb. 29, 2024
Segment Reporting [Abstract]
Segment Operations	Note O – Segment Operations Our operations are managed principally on a products and services basis. Factors used to identify reportable segments include the nature of the products and services provided by each business, the management reporting structure, similarity of economic characteristics and certain quantitative measures, as prescribed by authoritative accounting guidance. Our operations are organized under three operating segments: Consumer Products, Building Products, and Sustainable Energy Solutions, none of which are aggregated for segment reporting purposes. In prior quarters, we also presented an additional operating segment, Steel Processing, which is no longer a reportable segment as a result of the Separation. The related segment disclosures herein have been updated accordingly, including recasting prior period information to reflect the Steel Processing business as discontinued operations. Segment information is prepared on the same basis that our CODM reviews financial information for operational decision-making purposes. We have identified our Chief Executive Officer as our CODM. Factors used to identify operating segments include the nature of the products and services provided by each business, the management reporting structure, the similarity of economic characteristics and certain quantitative measures, as prescribed by authoritative accounting guidance. In connection with the Separation, our CODM began evaluating segment operating performance on the basis of adjusted EBITDA, as previously described in the “Use of Non-GAAP Financial Measures and Definitions” section preceding Part I, Item 1 of this Form 10-Q. At the operating segment level, adjusted EBITDA excludes public company and other governance-related costs. Effective December 1, 2023, we also realigned management responsibilities and the internal reporting of our liquified petroleum gas propane tank manufacturing facility in Westerville, Ohio, to fall under our Building Products segment (from Consumer Products). Previously reported results have been recast to reflect these changes. The following tables presents summarized financial information for our reportable segments for the periods indicated. Three Months Ended February 29, 2024 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 133,181 $ 148,190 $ 35,384 $ - $ 316,755 Restructuring and other expense, net - 84 - 614 698 Separation costs - - - 2,999 2,999 Miscellaneous income (expense), net 12 154 328 ( 7,489 ) ( 6,995 ) Equity Income - 43,813 - ( 578 ) 43,235 Adjusted EBITDA (1) 25,649 53,059 ( 2,667 ) ( 9,170 ) 66,871 Three Months Ended February 28, 2023 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 130,684 $ 183,839 $ 31,792 $ - $ 346,315 Impairment of long-lived assets - 484 - - 484 Restructuring and other expense, net 206 617 - - 823 Separation costs - - - 2,305 2,305 Miscellaneous income (expense), net ( 12 ) 122 ( 37 ) 144 217 Equity Income - 37,836 - ( 725 ) 37,111 Adjusted EBITDA (2)(4) 21,100 58,097 212 ( 9,193 ) 70,216 Nine Months Ended February 29, 2024 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 369,923 $ 465,421 $ 91,558 $ - $ 926,902 Restructuring and other expense, net - 84 - 620 704 Separation costs - - - 12,465 12,465 Miscellaneous income (expense), net 49 452 1,165 ( 7,649 ) ( 5,983 ) Loss on extinguishment of debt - - - ( 1,534 ) ( 1,534 ) Equity Income - 124,032 - 3,296 127,328 Adjusted EBITDA (1)(2)(3)(4) 52,537 158,501 ( 6,434 ) ( 16,775 ) 187,829 Nine Months Ended February 29, 2023 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 406,479 $ 542,536 $ 100,679 $ - $ 1,049,694 Impairment of long-lived assets - 484 - - 484 Restructuring and other expense (income), net 206 617 - ( 1,177 ) ( 354 ) Separation costs - - - 3,572 3,572 Miscellaneous income (expense), net ( 78 ) 405 19 ( 4,845 ) ( 4,499 ) Equity Income - 116,809 - ( 14,805 ) 102,004 Adjusted EBITDA (1)(2)(4) 67,846 157,458 2,932 ( 15,948 ) 212,288 (1) Excludes pre-tax charges of $ 8,103 and $ 4,774 from separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies. (2) Excludes the following items reflected in Equity Income in our consolidated statements of earnings: • For the nine months ended February 29, 2024, our share of the gain realized by our engineered cabs joint venture, Workhorse, in connection with the sale of the joint venture’s operations in Brazil, which totaled $ 2,780 on a pre-tax basis. • For the nine months ended February 28, 2023, the loss realized in connection with the August 3, 2022, sale of our then 50 % noncontrolling equity investment in ArtiFlex, or $ 16,059 on a pre-tax basis, including $ 300 of transaction costs during the three months ended February 28, 2023. (3) Excludes a pre-tax loss of $ 1,534 realized in connection with the July 28, 2023, early redemption of the 2026 Notes. The loss resulted primarily from unamortized issuance costs and discount included in the carrying amount of the 2026 Notes and the acceleration of the remaining unamortized loss in equity related to a treasury lock derivative instrument executed in connection with the issuance of the 2026 Notes. (4) Reflects reductions in certain corporate overhead costs that no longer exist post-Separation. These costs were included in continuing operations as they represent general corporate overhead that was historically allocated to Worthington Steel but did not meet the requirements to be presented as discontinued operations. (5) A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023. Total assets for each of our reportable segments at the dates indicated were as follows: February 29, May 31, (In thousands) 2024 2023 Consumer Products $ 566,715 $ 544,911 Building Products 678,699 706,169 Sustainable Energy Solutions 144,543 129,872 Unallocated Corporate and Other 314,732 509,170 Total assets of continuing operations $ 1,704,689 $ 1,890,122

Acquisitions

Acquisitions	9 Months Ended
	Feb. 29, 2024
Business Combinations [Abstract]
Acquisitions	Note P – Acquisitions Halo On February 1, 2024, we acquired an 80 % controlling interest in a newly formed joint venture with HPG for total cash consideration of $ 9,386 , of which $ 679 related to a customer overpayment and was held back at closing. The remaining 20 % noncontrolling interest was retained by HPG. Halo is an asset-light business with technology-enabled solutions in the outdoor cooking space with products that include Halo TM branded pizza ovens, pellet grills, griddles and other accessories. Halo is being operated as part of the Consumer Products operating segment and its operating results have been included in our consolidated statement of earnings since the date of acquisition. Pro forma results, including the acquired business since the beginning of fiscal 2023, would not be materially different than the reported results. The information included herein is 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. The purchase price includes the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value. The purchase price also includes strategic and synergistic benefits (i.e., 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 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 Halo, we identified and valued the following intangible assets: Amount Useful Life Category (In thousands) (Years) Trade name $ 3,500 10 Product design/Know-how 800 8 Customer relationships 200 8 Total acquired identifiable intangible assets $ 4,500 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 Accounts receivable $ 88 Inventories 5,511 Property, plant and equipment 1,732 Intangible assets 4,500 Total identifiable assets 11,831 Accounts payable ( 7,293 ) Other accrued items ( 1,099 ) Net identifiable assets 3,439 Goodwill 8,294 Net assets 11,733 Noncontrolling interest ( 2,347 ) Total cash consideration $ 9,386 Level5 On June 2, 2022, we acquired Level5, a leading provider of drywall tools and related accessories. The total purchase price was $ 59,321 , including $ 2,000 attributed to an earnout agreement with the selling shareholders, which provides for up to an additional $ 25,000 of cash consideration should certain earnings targets be met annually through calendar year 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. As of February 29, 2024, no amounts were accrued as compensation expense for anticipated payments under the second earnout period ending December 31, 2023 or the third earnout period ending December 31, 2024. 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 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: Amount Useful Life Category (In thousands) (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 accounting rules (e.g., assembled workforce) or of immaterial value. The purchase price also includes strategic and synergistic benefits (i.e., 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 for income tax purposes. The following table summarizes the consideration paid and the final fair value assigned to the assets and liabilities assumed at the acquisition date. (In thousands) Preliminary Measurement Final 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	9 Months Ended
	Feb. 29, 2024
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, aluminum 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 February 29, 2024 and May 31, 2023: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet February 29, May 31, Sheet February 29, May 31, (In thousands) Location 2024 2023 Location 2024 2023 Derivatives designated as hedging instruments Commodity contracts Receivables $ 1,064 $ 20 Accounts payable $ 115 $ 4,069 Commodity contracts Other assets 26 - Other liabilities - 237 Foreign currency exchange contracts Receivables - - Accounts payable - 33 Subtotal $ 1,090 $ 20 $ 115 $ 4,339 Derivatives not designated as hedging instruments Commodity contracts Receivables $ 308 $ 294 Accounts payable $ 445 $ 1,609 Foreign currency exchange contracts Receivables - - Accounts payable 3 - Subtotal $ 308 $ 294 $ 448 $ 1,609 Total derivative financial instruments $ 1,398 $ 314 $ 563 $ 5,948 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 an increase in receivables with a corresponding increase in accounts payable of $ 174 and $ 272 at February 29, 2024 and May 31, 2023, respectively. 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 February 29, 2024: Notional (In thousands) Amount Maturity Date(s) Commodity contracts $ 9,113 March 2024 - June 2025 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from 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 February 29, 2024: Commodity contracts $ 1,944 Cost of goods sold $ 1,328 Interest rate contracts - Interest expense, net 52 Total $ 1,944 $ 1,380 For the three months ended February 28, 2023: Commodity contracts $ 7,093 Cost of goods sold $ ( 4,858 ) Interest rate contracts - Interest expense ( 7 ) Foreign currency exchange contracts 66 Miscellaneous income, net 67 Total $ 7,159 $ ( 4,798 ) For the nine months ended February 29, 2024: Commodity contracts $ 3,553 Cost of goods sold $ ( 921 ) Interest rate contracts - Loss on extinguishment of debt ( 642 ) Interest rate contracts - Interest expense 136 Foreign currency exchange contracts ( 11 ) Cost of goods sold ( 44 ) Total $ 3,542 $ ( 1,471 ) For the nine months ended February 28, 2023: Commodity contracts $ ( 7,770 ) Cost of goods sold $ ( 10,925 ) Interest rate contracts - Interest expense ( 20 ) Foreign currency exchange contracts 124 Miscellaneous income, net ( 7 ) Total $ ( 7,646 ) $ ( 10,952 ) The estimated net amount of the losses recognized in AOCI at February 29, 2024 expected to be reclassified into net earnings within the succeeding twelve months is $ 903 (net of tax of $ 232 ). This amount was computed using the fair value of the cash flow hedges at February 29, 2024, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2024 and May 31, 2025. 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 February 29, 2024: Notional (In thousands) Amount Maturity Date(s) Commodity contracts $ 1,648 March 2024 - December 2024 Foreign currency exchange contracts $ 7,034 March 2024 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain Recognized in Earnings for the Three Months Ended Location of Gain (Loss) February 29, February 28, (In thousands) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 311 $ 2,613 Foreign currency exchange contracts Miscellaneous income, net ( 82 ) 79 Total $ 229 $ 2,692 Gain (Loss) Recognized in Earnings for the Nine Months Ended Location of Gain (Loss) February 29, February 28, (In thousands) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ ( 832 ) $ 4,841 Foreign currency exchange contracts Miscellaneous income, net ( 3 ) 32 Total $ ( 835 ) $ 4,873

Fair Value

Fair Value	9 Months Ended
	Feb. 29, 2024
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 February 29, 2024, 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) Total Assets (1) Derivative financial instruments $ - $ 1,398 $ - $ 1,398 Total assets $ - $ 1,398 $ - $ 1,398 Liabilities (1) Derivative financial instruments $ - $ 563 $ - $ 563 Total liabilities $ - $ 563 $ - $ 563 (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, 2023, 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) Total Assets (1) Derivative financial instruments $ - $ 314 $ - $ 314 Total assets $ - $ 314 $ - $ 314 Liabilities (1) Derivative financial instruments $ - $ 5,948 $ - $ 5,948 Total liabilities $ - $ 5,948 $ - $ 5,948 (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 February 29, 2024, there were no assets measured at fair value on a non-recurring basis on our consolidated balance sheet. At May 31, 2023, 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 and used (1) - 70 - 70 Total assets $ - $ 70 $ - $ 70 (1) Comprised of certain assets associated with a capital project at our Building Products facility in Jefferson, Ohio which were written down to their estimated salvage value of $ 70 . 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, w as $ 227,908 and $ 639,948 at February 29, 2024 and May 31, 2023, respectively. The carrying amount of long-term debt, including current maturities, was $ 297,962 and $ 689,982 at February 29, 2024 and May 31, 2023 , respectively.

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Feb. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Results from Discontinued Operations	The following table summarizes the assets and liabilities from discontinued operations at May 31, 2023: Assets Current assets: Cash and cash equivalents $ 32,678 Receivables, less allowances of $ 2,581 468,024 Inventories: Raw materials 172,580 Work in process 164,059 Finished products 76,830 Total inventories 413,469 Income taxes receivable 2,517 Prepaid expenses and other current assets 58,656 Assets held for sale 3,381 Total current assets 978,725 Investments in unconsolidated affiliates 114,550 Operating lease assets 75,281 Goodwill 78,642 Other intangible assets, net of accumulated amortization of $ 38,894 83,375 Other assets 10,984 Property, plant and equipment: Land 37,577 Buildings and improvements 169,155 Machinery and equipment 860,077 Construction in progress 20,386 Total property, plant and equipment 1,087,195 Less: accumulated depreciation 667,956 Total property, plant and equipment, net 419,239 Total assets $ 1,760,796 Liabilities Current liabilities: Accounts payable $ 402,177 Short-term borrowings 2,813 Accrued compensation, contributions to employee benefit plans and related taxes 47,028 Other accrued items 14,094 Current operating lease liabilities 5,926 Total current liabilities 472,038 Other liabilities 41,520 Noncurrent operating lease liabilities 71,656 Deferred income taxes, net 19,093 Total liabilities $ 604,307 The following table summarizes the financial results from the discontinued operations of Worthington Steel for the periods presented. There were no discontinued operations for the three months ended February 29, 2024. Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Net sales $ - $ 757,007 $ 1,670,027 $ 2,637,834 Cost of goods sold - 692,171 1,481,731 2,448,319 Gross profit - 64,836 188,296 189,515 Selling, general and administrative expense - 34,698 74,908 106,110 Impairment of long-lived assets - - 1,401 312 Restructuring and other expense (income) - 1 - ( 4,204 ) Separation costs - 4,042 18,521 12,021 Operating income - 26,095 93,466 75,276 Other income (expense): Miscellaneous income, net - 1,110 1,016 2,146 Interest expense, net - ( 1,849 ) ( 3,706 ) ( 6,557 ) Equity in net income of unconsolidated affiliate - ( 185 ) 12,735 3,491 Earnings before income taxes - 25,171 103,511 74,356 Income tax expense - 4,664 20,405 14,974 Net earnings - 20,507 83,106 59,382 Net earnings attributable to noncontrolling interest - 3,933 7,460 8,382 Net earnings attributable to controlling interest $ - $ 16,574 $ 75,646 $ 51,000 The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statements of cash flows for the periods presented. There were no discontinued operations for the three months ended February 29, 2024. Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Significant non-cash operating items: Depreciation and amortization $ - $ 16,260 $ 32,043 $ 50,306 Impairment of long-lived assets - - 1,401 312 Equity in income of unconsolidated affiliate - 10,185 ( 12,734 ) 6,509 Net loss (gain) on sale of assets - 46 ( 412 ) ( 3,778 ) Stock-based compensation - 1,211 3,472 3,340 Significant investing activities: Investment in property, plant and equipment - ( 10,809 ) ( 33,457 ) ( 36,450 ) Acquisitions, net of cash acquired - - ( 21,013 ) - Significant financing activities: Net proceeds from short-term borrowings - - 172,187 -

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Feb. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]
Financial Information	The following tables summarize combined financial information for our unconsolidated affiliates included in continuing operations as of the dates, and for the periods presented: February 29, May 31, (In thousands) 2024 2023 Cash and cash equivalents $ 86,533 $ 36,988 Other current assets 574,099 661,700 Non-current assets 324,793 335,567 Total assets $ 985,425 $ 1,034,255 Current liabilities 312,235 176,959 Current maturities of long-term debt 20,500 36,936 Long-term debt 349,377 349,215 Other non-current liabilities 137,275 139,228 Equity 166,038 331,917 Total liabilities and equity $ 985,425 $ 1,034,255 Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, (In thousands) 2024 2023 2024 2023 Net sales $ 497,938 $ 511,663 $ 1,579,992 $ 1,727,225 Gross profit 171,497 154,980 492,812 467,664 Operating income 126,377 115,286 376,782 349,925 Depreciation and amortization 6,936 5,662 21,737 18,559 Interest expense 4,943 4,476 15,220 10,920 Income tax expense 549 791 1,900 1,604 Net earnings 119,982 111,505 360,748 342,574

Debt and Receivables Securiti_2

Debt and Receivables Securitization (Tables)	9 Months Ended
	Feb. 29, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt and Short-term Borrowings Outstanding	The following table summarizes our long-term debt outstanding at February 29, 2024 and May 31, 2023: February 29, May 31, (In thousands) 2024 2023 2024 Notes - 150,000 2026 Notes - 243,623 4.30 % senior notes due August 1, 2032 200,000 200,000 2.06 % Series A senior note due August 23, 2031 39,654 39,226 2.40 % Series B senior notes due August 23, 2034 59,427 58,786 Other 267 528 Total debt 299,348 692,163 Unamortized discount and debt issuance costs ( 1,386 ) ( 2,181 ) Total debt, net 297,962 689,982 Less: current maturities and short-term borrowings 267 264 Total long-term debt $ 297,695 $ 689,718
Maturities of Long-term Debt and Short-term Borrowings	Maturities of long-term debt are as follows: (In thousands) 2025 $ 267 2026 - 2027 - 2028 - 2029 - Thereafter 299,081 Total $ 299,348

Restructuring and Other Incom_2

Restructuring and Other Income, Net (Tables)	9 Months Ended
	Feb. 29, 2024
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 nine months ended February 28, 2024 is summarized below: (In thousands) Balance, as of May 31, 2023 Expense Payments Balance, as of February 29, 2024 Early retirement and severance $ 135 $ 704 $ ( 253 ) $ 586

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Feb. 29, 2024
Equity [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 February 29, 2024 February 28, 2023 (In thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 615 ) $ ( 85 ) $ ( 700 ) $ 1,421 $ 142 $ 1,563 Pension liability adjustment 8,927 ( 2,122 ) 6,805 415 ( 92 ) 323 Cash flow hedges 564 ( 346 ) 218 43,963 ( 9,621 ) 34,342 Other comprehensive income (loss) $ 8,876 $ ( 2,553 ) $ 6,323 $ 45,799 $ ( 9,571 ) $ 36,228 Nine Months Ended February 29, 2024 February 28, 2023 (In thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ 1,555 $ 88 $ 1,643 $ ( 7,549 ) $ ( 131 ) $ ( 7,680 ) Pension liability adjustment 8,927 ( 2,125 ) 6,802 4,155 ( 975 ) 3,180 Cash flow hedges 9,140 ( 2,224 ) 6,916 21,201 ( 4,159 ) 17,042 Other comprehensive income (loss) $ 19,622 $ ( 4,261 ) $ 15,361 $ 17,807 $ ( 5,265 ) $ 12,542

Changes in Equity (Tables)

Changes in Equity (Tables)	9 Months Ended
	Feb. 29, 2024
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 Additional Non- Paid-in AOCI, Retained controlling (In thousands) Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2023 $ 290,799 $ ( 23,179 ) $ 1,428,391 $ 1,696,011 $ 125,617 $ 1,821,628 Net earnings - - 96,106 96,106 3,597 99,703 Other comprehensive loss - ( 5,408 ) - ( 5,408 ) - ( 5,408 ) Common shares issued, net of withholding tax ( 5,130 ) - - ( 5,130 ) - ( 5,130 ) Common shares in non-qualified plans 130 - - 130 - 130 Stock-based compensation 8,995 - - 8,995 - 8,995 Cash dividends declared - - ( 16,081 ) ( 16,081 ) - ( 16,081 ) Dividends to noncontrolling interests - - - - ( 1,921 ) ( 1,921 ) Balance at August 31, 2023 $ 294,794 $ ( 28,587 ) $ 1,508,416 $ 1,774,623 $ 127,293 $ 1,901,916 Net earnings - - 24,302 24,302 3,865 28,167 Other comprehensive income - 14,446 - 14,446 - 14,446 Common shares issued, net of withholding tax ( 9,207 ) - - ( 9,207 ) - ( 9,207 ) Common shares in non-qualified plans 195 - - 195 - 195 Stock-based compensation 4,511 - - 4,511 - 4,511 Cash dividends declared - - ( 16,061 ) ( 16,061 ) - ( 16,061 ) Dividends to noncontrolling interests - - - - - - Balance at November 30, 2023 $ 290,293 $ ( 14,141 ) $ 1,516,657 $ 1,792,809 $ 131,158 $ 1,923,967 Net earnings - - 22,000 22,000 - 22,000 Other comprehensive income - 6,323 - 6,323 - 6,323 Common shares issued, net of withholding tax ( 1,023 ) - - ( 1,023 ) - ( 1,023 ) Common shares in non-qualified plans 53 - - 53 - 53 Stock-based compensation 2,071 - - 2,071 - 2,071 Separation of Worthington Steel - ( 717 ) ( 901,370 ) ( 902,087 ) ( 128,812 ) ( 1,030,899 ) Cash dividends declared - - ( 8,050 ) ( 8,050 ) - ( 8,050 ) Balance at February 29, 2024 $ 291,394 $ ( 8,535 ) $ 629,237 $ 912,096 $ 2,346 $ 914,442 Controlling Interest Additional Non- Paid-in AOCI, Retained controlling (In thousands) Capital Net of Tax Earnings Subtotal 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 interests - - - - ( 11,760 ) ( 11,760 ) Balance at November 30, 2022 $ 280,354 $ ( 46,536 ) $ 1,279,575 $ 1,513,393 $ 125,899 $ 1,639,292 Net earnings - - 46,325 46,325 3,933 50,258 Other comprehensive income - 36,228 - 36,228 - 36,228 Common shares issued, net of withholding tax 704 - - 704 - 704 Common shares in non-qualified plans 107 - - 107 - 107 Stock-based compensation 3,818 - - 3,818 - 3,818 Cash dividends declared - - ( 15,149 ) ( 15,149 ) - ( 15,149 ) Balance at February 28, 2023 $ 284,983 $ ( 10,308 ) $ 1,310,751 $ 1,585,426 $ 129,832 $ 1,715,258
Summary of Changes in AOCI	The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow (In thousands) Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) Other comprehensive income before reclassifications 1,555 60 14,893 16,508 Reclassification adjustments to net earnings (a)(b) - 8,867 ( 5,753 ) 3,114 Income tax effect 88 ( 2,125 ) ( 2,224 ) ( 4,261 ) Separation of Worthington Steel 10,874 ( 5,984 ) ( 5,607 ) ( 717 ) Balance at February 29, 2024 $ ( 9,606 ) $ ( 912 ) $ 1,983 $ ( 8,535 ) Foreign Pension Currency Liability Cash Flow (In thousands) Translation Adjustment Hedges AOCI Balance at May 31, 2022 $ ( 15,310 ) $ ( 6,244 ) $ ( 1,296 ) $ ( 22,850 ) Other comprehensive loss before reclassifications ( 7,549 ) ( 619 ) ( 2,999 ) ( 11,167 ) Reclassification adjustments to net earnings (a)(b) - 4,774 24,200 28,974 Income tax effect ( 131 ) ( 975 ) ( 4,159 ) ( 5,265 ) Balance at February 28, 2023 $ ( 22,990 ) $ ( 3,064 ) $ 15,746 $ ( 10,308 ) The consolidated statement of earnings classification of amounts reclassified to net income include: (a) Cash flow hedges – Disclosure of reclassification adjustments classified within continuing operations is provided in “Note Q – Derivative Financial Instruments and Hedging Activities.” The residual amount relates to Worthington Steel and has been presented within discontinued operations. (b) Pension liability adjustment – Reflects the acceleration of deferred pension costs in AOCI related to separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Feb. 29, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Stock Option Activity	The table below summarizes our stock option activity during the nine months ended February 29, 2024: Weighted Average Stock Exercise (In thousands, except per common share amounts) Options Price Outstanding - June 1, 2023 573 $ 42.61 Converted to Worthington Steel common shares (1) ( 61 ) 51.44 Separation related adjustment 254 - Granted 58 68.68 Exercised ( 126 ) 39.73 Forfeited ( 7 ) 45.91 Outstanding - February 29, 2024 691 $ 28.83 (1) Effective as of the Distribution, each outstanding stock option held by a then-current or former employee or service provider of Worthington Steel was converted into a stock option denominated in the common shares of Worthington Steel.
Summary of Service-Based Restricted Common Shares	The table below sets forth the service-based restricted common shares for the nine months ended February 29, 2024: Weighted Restricted Average Common Grant Date (In thousands, except per common share amounts) Shares Fair Value Outstanding - June 1, 2023 800 $ 47.39 Converted to Worthington Steel common shares (1) ( 296 ) 55.70 Separation related adjustment 220 - Granted 214 64.57 Vested ( 337 ) 39.17 Forfeited ( 20 ) 47.07 Outstanding - February 29, 2024 581 $ 36.34 (1) Effective as of the Distribution, each restricted stock award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel common shares.
Summary of Performance Activity	The table summarizes our performance activity for the nine months ended February 29, 2024. Weighted Restricted Average Common Grant Date (In thousands, except per common share amounts) Shares Fair Value Outstanding - June 1, 2023 172 $ 46.37 Converted to Worthington Steel common shares (1) ( 39 ) 56.99 Separation related adjustment 58 - Granted 113 52.73 Vested ( 131 ) 39.93 Forfeited ( 25 ) 36.02 Outstanding - February 29, 2024 148 $ 37.70 (1) Effective as of the Distribution, each performance share award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel shares.
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 weighted average fair value of stock options granted during the nine months ended February 29, 2024 was based on the following assumptions: Dividend yield 2.34 % Expected volatility 42.62 % Risk-free interest rate 4.04 % Expected term (years) 6.0

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Feb. 29, 2024
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 EPS attributable to controlling interest for the periods presented: Three Months Ended Nine Months Ended February 29, February 28, February 29, February 28, (In thousands, except per common share amounts) 2024 2023 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations $ 22,000 $ 29,751 $ 66,763 $ 75,625 Denominator: Denominator for basic EPS from continuing operations - Weighted average common shares 49,315 48,587 49,113 48,541 Effect of dilutive securities 1,102 906 1,158 815 Denominator for diluted EPS from continuing operations - Weighted average common shares 50,417 49,493 50,271 49,356 Basic EPS from continuing operations $ 0.45 $ 0.61 $ 1.36 $ 1.56 Diluted EPS from continuing operations $ 0.44 $ 0.60 $ 1.33 $ 1.53

Segment Operations (Tables)

Segment Operations (Tables)	9 Months Ended
	Feb. 29, 2024
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following tables presents summarized financial information for our reportable segments for the periods indicated. Three Months Ended February 29, 2024 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 133,181 $ 148,190 $ 35,384 $ - $ 316,755 Restructuring and other expense, net - 84 - 614 698 Separation costs - - - 2,999 2,999 Miscellaneous income (expense), net 12 154 328 ( 7,489 ) ( 6,995 ) Equity Income - 43,813 - ( 578 ) 43,235 Adjusted EBITDA (1) 25,649 53,059 ( 2,667 ) ( 9,170 ) 66,871 Three Months Ended February 28, 2023 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 130,684 $ 183,839 $ 31,792 $ - $ 346,315 Impairment of long-lived assets - 484 - - 484 Restructuring and other expense, net 206 617 - - 823 Separation costs - - - 2,305 2,305 Miscellaneous income (expense), net ( 12 ) 122 ( 37 ) 144 217 Equity Income - 37,836 - ( 725 ) 37,111 Adjusted EBITDA (2)(4) 21,100 58,097 212 ( 9,193 ) 70,216 Nine Months Ended February 29, 2024 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 369,923 $ 465,421 $ 91,558 $ - $ 926,902 Restructuring and other expense, net - 84 - 620 704 Separation costs - - - 12,465 12,465 Miscellaneous income (expense), net 49 452 1,165 ( 7,649 ) ( 5,983 ) Loss on extinguishment of debt - - - ( 1,534 ) ( 1,534 ) Equity Income - 124,032 - 3,296 127,328 Adjusted EBITDA (1)(2)(3)(4) 52,537 158,501 ( 6,434 ) ( 16,775 ) 187,829 Nine Months Ended February 29, 2023 (In thousands) Consumer Products Building Products Sustainable Energy Solutions Unallocated Corporate and Other Consolidated (5) Net sales $ 406,479 $ 542,536 $ 100,679 $ - $ 1,049,694 Impairment of long-lived assets - 484 - - 484 Restructuring and other expense (income), net 206 617 - ( 1,177 ) ( 354 ) Separation costs - - - 3,572 3,572 Miscellaneous income (expense), net ( 78 ) 405 19 ( 4,845 ) ( 4,499 ) Equity Income - 116,809 - ( 14,805 ) 102,004 Adjusted EBITDA (1)(2)(4) 67,846 157,458 2,932 ( 15,948 ) 212,288 (1) Excludes pre-tax charges of $ 8,103 and $ 4,774 from separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies. (2) Excludes the following items reflected in Equity Income in our consolidated statements of earnings: • For the nine months ended February 29, 2024, our share of the gain realized by our engineered cabs joint venture, Workhorse, in connection with the sale of the joint venture’s operations in Brazil, which totaled $ 2,780 on a pre-tax basis. • For the nine months ended February 28, 2023, the loss realized in connection with the August 3, 2022, sale of our then 50 % noncontrolling equity investment in ArtiFlex, or $ 16,059 on a pre-tax basis, including $ 300 of transaction costs during the three months ended February 28, 2023. (3) Excludes a pre-tax loss of $ 1,534 realized in connection with the July 28, 2023, early redemption of the 2026 Notes. The loss resulted primarily from unamortized issuance costs and discount included in the carrying amount of the 2026 Notes and the acceleration of the remaining unamortized loss in equity related to a treasury lock derivative instrument executed in connection with the issuance of the 2026 Notes. (4) Reflects reductions in certain corporate overhead costs that no longer exist post-Separation. These costs were included in continuing operations as they represent general corporate overhead that was historically allocated to Worthington Steel but did not meet the requirements to be presented as discontinued operations. (5) A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023. Total assets for each of our reportable segments at the dates indicated were as follows: February 29, May 31, (In thousands) 2024 2023 Consumer Products $ 566,715 $ 544,911 Building Products 678,699 706,169 Sustainable Energy Solutions 144,543 129,872 Unallocated Corporate and Other 314,732 509,170 Total assets of continuing operations $ 1,704,689 $ 1,890,122

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Feb. 29, 2024
WH Products
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of Halo, we identified and valued the following intangible assets: Amount Useful Life Category (In thousands) (Years) Trade name $ 3,500 10 Product design/Know-how 800 8 Customer relationships 200 8 Total acquired identifiable intangible assets $ 4,500
Schedule of Consideration Transferred for the Assets and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed	(In thousands) Preliminary Accounts receivable $ 88 Inventories 5,511 Property, plant and equipment 1,732 Intangible assets 4,500 Total identifiable assets 11,831 Accounts payable ( 7,293 ) Other accrued items ( 1,099 ) Net identifiable assets 3,439 Goodwill 8,294 Net assets 11,733 Noncontrolling interest ( 2,347 ) Total cash consideration $ 9,386
Level5 Tools, LLC
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of Level5, we identified and valued the following intangible assets: Amount Useful Life Category (In thousands) (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 paid and the final fair value assigned to the assets and liabilities assumed at the acquisition date. (In thousands) Preliminary Measurement Final 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)	9 Months Ended
	Feb. 29, 2024
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 February 29, 2024 and May 31, 2023: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet February 29, May 31, Sheet February 29, May 31, (In thousands) Location 2024 2023 Location 2024 2023 Derivatives designated as hedging instruments Commodity contracts Receivables $ 1,064 $ 20 Accounts payable $ 115 $ 4,069 Commodity contracts Other assets 26 - Other liabilities - 237 Foreign currency exchange contracts Receivables - - Accounts payable - 33 Subtotal $ 1,090 $ 20 $ 115 $ 4,339 Derivatives not designated as hedging instruments Commodity contracts Receivables $ 308 $ 294 Accounts payable $ 445 $ 1,609 Foreign currency exchange contracts Receivables - - Accounts payable 3 - Subtotal $ 308 $ 294 $ 448 $ 1,609 Total derivative financial instruments $ 1,398 $ 314 $ 563 $ 5,948
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative financial instruments outstanding at February 29, 2024: Notional (In thousands) Amount Maturity Date(s) Commodity contracts $ 1,648 March 2024 - December 2024 Foreign currency exchange contracts $ 7,034 March 2024 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain Recognized in Earnings for the Three Months Ended Location of Gain (Loss) February 29, February 28, (In thousands) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 311 $ 2,613 Foreign currency exchange contracts Miscellaneous income, net ( 82 ) 79 Total $ 229 $ 2,692 Gain (Loss) Recognized in Earnings for the Nine Months Ended Location of Gain (Loss) February 29, February 28, (In thousands) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ ( 832 ) $ 4,841 Foreign currency exchange contracts Miscellaneous income, net ( 3 ) 32 Total $ ( 835 ) $ 4,873
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at February 29, 2024: Notional (In thousands) Amount Maturity Date(s) Commodity contracts $ 9,113 March 2024 - June 2025 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from 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 February 29, 2024: Commodity contracts $ 1,944 Cost of goods sold $ 1,328 Interest rate contracts - Interest expense, net 52 Total $ 1,944 $ 1,380 For the three months ended February 28, 2023: Commodity contracts $ 7,093 Cost of goods sold $ ( 4,858 ) Interest rate contracts - Interest expense ( 7 ) Foreign currency exchange contracts 66 Miscellaneous income, net 67 Total $ 7,159 $ ( 4,798 ) For the nine months ended February 29, 2024: Commodity contracts $ 3,553 Cost of goods sold $ ( 921 ) Interest rate contracts - Loss on extinguishment of debt ( 642 ) Interest rate contracts - Interest expense 136 Foreign currency exchange contracts ( 11 ) Cost of goods sold ( 44 ) Total $ 3,542 $ ( 1,471 ) For the nine months ended February 28, 2023: Commodity contracts $ ( 7,770 ) Cost of goods sold $ ( 10,925 ) Interest rate contracts - Interest expense ( 20 ) Foreign currency exchange contracts 124 Miscellaneous income, net ( 7 ) Total $ ( 7,646 ) $ ( 10,952 )

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Feb. 29, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At February 29, 2024, 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) Total Assets (1) Derivative financial instruments $ - $ 1,398 $ - $ 1,398 Total assets $ - $ 1,398 $ - $ 1,398 Liabilities (1) Derivative financial instruments $ - $ 563 $ - $ 563 Total liabilities $ - $ 563 $ - $ 563 (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, 2023, 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) Total Assets (1) Derivative financial instruments $ - $ 314 $ - $ 314 Total assets $ - $ 314 $ - $ 314 Liabilities (1) Derivative financial instruments $ - $ 5,948 $ - $ 5,948 Total liabilities $ - $ 5,948 $ - $ 5,948 (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 February 29, 2024, there were no assets measured at fair value on a non-recurring basis on our consolidated balance sheet. At May 31, 2023, 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 and used (1) - 70 - 70 Total assets $ - $ 70 $ - $ 70 (1) Comprised of certain assets associated with a capital project at our Building Products facility in Jefferson, Ohio which were written down to their estimated salvage value of $ 70 .

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Thousands		9 Months Ended
	Dec. 01, 2023	Feb. 29, 2024 USD ($) Jointventure	Feb. 28, 2023 USD ($)	Feb. 01, 2024	May 31, 2023 USD ($)
Current Assets of Discontinued Operations
Significant Accounting Policies [Line Items]
Unbilled receivables					$ 3,708
Joint Venture Transactions
Significant Accounting Policies [Line Items]
Number of joint ventures | Jointventure		4
Spartan | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		52%
TWB | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		55%
Samuel | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		63%
Worthington Specialty Processing | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		51%
Halo
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company				80%
The Separation of Worthington Steel
Significant Accounting Policies [Line Items]
Percentage of outstanding common shares to holders as of close of business	100%
Direct and incremental costs		$ 30,986	$ 15,593
Direct and incremental costs attributed to discontinued operations		18,521	$ 12,021
Worthington Steel | Long-term Steel Supply Agreement
Significant Accounting Policies [Line Items]
Purchases		20,274
Payable		$ 10,702

Discontinued Operations - Summa

Discontinued Operations - Summary of Assets and Liabilities from Discontinued Operations (Detail) $ in Thousands	May 31, 2023 USD ($)
Current assets:
Total current assets	$ 978,725
Current liabilities:
Total current liabilities	472,038
Discontinued Operations
Current assets:
Cash and cash equivalents	32,678
Receivables, less allowances of $2,581	468,024
Raw materials	172,580
Work in process	164,059
Finished products	76,830
Total inventories	413,469
Income taxes receivable	2,517
Prepaid expenses and other current assets	58,656
Assets held for sale	3,381
Total current assets	978,725
Investments in unconsolidated affiliates	114,550
Operating lease assets	75,281
Goodwill	78,642
Other intangible assets, net of accumulated amortization	83,375
Other assets	10,984
Total property, plant and equipment, gross	1,087,195
Less: accumulated depreciation	667,956
Total property, plant and equipment, net	419,239
Total assets	1,760,796
Current liabilities:
Accounts payable	402,177
Short-term borrowings	2,813
Accrued compensation, contributions to employee benefit plans and related taxes	47,028
Other accrued items	14,094
Current operating lease liabilities	5,926
Total current liabilities	472,038
Other liabilities	41,520
Noncurrent operating lease liabilities	71,656
Deferred income taxes, net	19,093
Total liabilities	604,307
Discontinued Operations | Land
Current assets:
Total property, plant and equipment, gross	37,577
Discontinued Operations | Buildings and Improvements
Current assets:
Total property, plant and equipment, gross	169,155
Discontinued Operations | Machinery and Equipment
Current assets:
Total property, plant and equipment, gross	860,077
Discontinued Operations | Construction in Progress
Current assets:
Total property, plant and equipment, gross	$ 20,386

Discontinued Operations - Sum_2

Discontinued Operations - Summary of Assets and Liabilities from Discontinued Operations (Parenthetical) (Detail) - Discontinued Operations $ in Thousands	May 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, allowances	$ 2,581
Other intangible assets, accumulated amortization	$ 38,894

Discontinued Operations - Sum_3

Discontinued Operations - Summary of Financial Results from Discontinued Operations of Worthington Steel (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Other income (expense):
Net earnings attributable to noncontrolling interest	$ 20,507	$ 83,106	$ 59,382
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	757,007	1,670,027	2,637,834
Cost of goods sold	692,171	1,481,731	2,448,319
Gross profit	64,836	188,296	189,515
Selling, general and administrative expense	34,698	74,908	106,110
Impairment of long-lived assets		1,401	312
Restructuring and other expense (income)	1		(4,204)
Separation costs	4,042	18,521	12,021
Operating income	26,095	93,466	75,276
Other income (expense):
Miscellaneous income, net	1,110	1,016	2,146
Interest expense, net	1,849	3,706	6,557
Equity in net income of unconsolidated affiliate	(185)	12,735	3,491
Earnings before income taxes	25,171	103,511	74,356
Income tax expense	4,664	20,405	14,974
Net earnings	20,507	83,106	59,382
Net earnings attributable to noncontrolling interest	3,933	7,460	8,382
Net earnings attributable to controlling interest	$ 16,574	$ 75,646	$ 51,000

Discontinued Operations - Sum_4

Discontinued Operations - Summary of Significant Non Cash Operating Items and Capital Expenditures of Discontinued Operations Included in Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Significant non-cash operating items:
Impairment of long-lived assets		$ 0	$ 484	$ 0	$ 484
Equity in income of unconsolidated affiliate		2,926	(23,218)	(3,169)	(84,415)
Net loss (gain) on sale of assets		(14)	46	(348)	(4,988)
Stock-based compensation		2,602	4,975	13,294	13,758
Significant investing activities:
Investment in property, plant and equipment		(10,017)	(22,748)	(72,191)	(68,715)
Acquisitions, net of cash acquired		(8,707)		(29,721)	(56,088)
Significant financing activities:
Payment to related party		$ 218,048		218,048
Net proceeds from short-term borrowings	[1]		(1,330)	172,187	(44,392)
Discontinued Operations
Significant non-cash operating items:
Depreciation and amortization			16,260	32,043	50,306
Impairment of long-lived assets				1,401	312
Equity in income of unconsolidated affiliate			10,185	(12,734)	6,509
Net loss (gain) on sale of assets			46	(412)	(3,778)
Stock-based compensation			1,211	3,472	3,340
Significant investing activities:
Investment in property, plant and equipment			$ (10,809)	(33,457)	$ (36,450)
Acquisitions, net of cash acquired				(21,013)
Significant financing activities:
Net proceeds from short-term borrowings				$ 172,187
[1] Net proceeds in the nine months ended February 29, 2024 consisted of borrowings under short-term credit facilities assumed by Worthington Steel in conjunction with the Separation.

Inventory - Additional Informat

Inventory - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 29, 2024	Nov. 30, 2023
Balloon Time Mini Helium Tanks
Inventory [Line Items]
Inventory obsolescence reserve		$ 3,000
Europe | Propane Tanks
Inventory [Line Items]
Inventory obsolescence reserve	$ 1,900

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Aug. 03, 2022	Nov. 30, 2023	Feb. 29, 2024	Feb. 28, 2023	May 31, 2023
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates			$ 120,707		$ 138,041
Excess dividends received from investing activity			$ 1,085
ArtiFlex
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates			50%	50%
Equity method investment sold amount after adjustments for closing debt and final net working capital	$ 35,795
Pre-tax loss on sale of equity	$ 16,059			$ 16,059
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%
Workhorse | Brazil
Investments in and Advances to Affiliates [Line Items]
Gain (Loss) on investments		$ 2,780
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates			50%
Distributions from unconsolidated affiliates			$ 144,317
WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates			50%
Investments in unconsolidated affiliates			$ 116,775		$ 117,297
Excess dividends received from investing activity			$ 1,085

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	Feb. 29, 2024	Feb. 28, 2023	May 31, 2023
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents		$ 227,310						$ 227,310		$ 422,268
Total assets		1,704,689						1,704,689		3,650,918
Current liabilities		202,288						202,288		717,558
Current maturities of long-term debt		267						267		264
Long-term debt		297,695						297,695		689,718
Other non-current liabilities		76,300						76,300		71,766
Equity		912,096						912,096		1,696,011
Total liabilities and equity		1,704,689						1,704,689		3,650,918
Net sales	[1]	316,755			$ 346,315			926,902	$ 1,049,694
Gross profit		73,112			78,971			206,020	229,428
Operating income		4,281			4,000			(17,411)	14,518
Depreciation and amortization		11,949			28,153			68,281	84,508
Income tax expense		18,471			7,391			34,041	20,709
Net earnings		22,000	$ 28,167	$ 99,703	50,258	$ 19,505	$ 65,244	149,869	135,007
Equity Method Investment, Nonconsolidated Investee, Other
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents		86,533						86,533		36,988
Other current assets		574,099						574,099		661,700
Non-current assets		324,793						324,793		335,567
Total assets		985,425						985,425		1,034,255
Current liabilities		312,235						312,235		176,959
Current maturities of long-term debt		20,500						20,500		36,936
Long-term debt		349,377						349,377		349,215
Other non-current liabilities		137,275						137,275		139,228
Equity		166,038						166,038		331,917
Total liabilities and equity		985,425						985,425		$ 1,034,255
Net sales		497,938			511,663			1,579,992	1,727,225
Gross profit		171,497			154,980			492,812	467,664
Operating income		126,377			115,286			376,782	349,925
Depreciation and amortization		6,936			5,662			21,737	18,559
Interest expense		4,943			4,476			15,220	10,920
Income tax expense		549			791			1,900	1,604
Net earnings		$ 119,982			$ 111,505			$ 360,748	$ 342,574
[1] A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023.

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Feb. 29, 2024		Feb. 28, 2023		Feb. 29, 2024		Feb. 28, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment charge of long-lived assets	[1]			$ 484				$ 484
Adjusted EBITDA		$ 40,471		37,142		$ 100,804		96,334
Sustainable Energy Solutions
Impaired Long-Lived Assets Held and Used [Line Items]
Adjusted EBITDA		$ (2,667)	[2]	212	[3],[4]	$ (6,434)	[1],[2],[3],[4],[5]	2,932	[2],[3],[4]
Capital Project | Building Products Facility | Jefferson
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment charge of long-lived assets				484
Estimated salvage value				$ 70				$ 70
[1] A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023. Excludes pre-tax charges of $ 8,103 and $ 4,774 from separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies. Excludes the following items reflected in Equity Income in our consolidated statements of earnings: • For the nine months ended February 29, 2024, our share of the gain realized by our engineered cabs joint venture, Workhorse, in connection with the sale of the joint venture’s operations in Brazil, which totaled $ 2,780 on a pre-tax basis. • For the nine months ended February 28, 2023, the loss realized in connection with the August 3, 2022, sale of our then 50 % noncontrolling equity investment in ArtiFlex, or $ 16,059 on a pre-tax basis, including $ 300 of transaction costs during the three months ended February 28, 2023. Reflects reductions in certain corporate overhead costs that no longer exist post-Separation. These costs were included in continuing operations as they represent general corporate overhead that was historically allocated to Worthington Steel but did not meet the requirements to be presented as discontinued operations. Excludes a pre-tax loss of $ 1,534 realized in connection with the July 28, 2023, early redemption of the 2026 Notes. The loss resulted primarily from unamortized issuance costs and discount included in the carrying amount of the 2026 Notes and the acceleration of the remaining unamortized loss in equity related to a treasury lock derivative instrument executed in connection with the issuance of the 2026 Notes.

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) - Early Retirement And Severance $ in Thousands	9 Months Ended
	Feb. 29, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 135
Expense	704
Payments	(253)
Ending Balance	$ 586

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	9 Months Ended
	Feb. 29, 2024 USD ($)
Stand-by Letters of Credit
Guarantor Obligations [Line Items]
Letter of credit amount outstanding	$ 12,137,000
Drawn amount of letter of credit outstanding	0
Operating Lease of Aircraft
Guarantor Obligations [Line Items]
Maximum potential obligation	$ 15,796,000

Debt and Receivables Securiti_3

Debt and Receivables Securitization - Summary of Long-term Debt and Short-term Borrowings Outstanding (Detail) - USD ($) $ in Thousands	Feb. 29, 2024	May 31, 2023
Debt Instrument [Line Items]
Total debt	$ 299,348	$ 692,163
Unamortized discount and debt issuance costs	(1,386)	(2,181)
Total debt, net	297,962	689,982
Less: current maturities and short-term borrowings	267	264
Total long-term debt	297,695	689,718
2024 Notes
Debt Instrument [Line Items]
Senior notes		150,000
2026 Notes
Debt Instrument [Line Items]
Senior notes		243,623
4.30% Senior Notes due August 1, 2032
Debt Instrument [Line Items]
Senior notes	200,000	200,000
2.06% Series A Senior Note due August 23, 2031
Debt Instrument [Line Items]
Senior notes	39,654	39,226
2.40% Series B Senior Notes due August 23, 2034
Debt Instrument [Line Items]
Senior notes	59,427	58,786
Other Debt
Debt Instrument [Line Items]
Debt	$ 267	$ 528

Debt and Receivables Securiti_4

Debt and Receivables Securitization - Summary of Long-term Debt and Short-term Borrowings Outstanding (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Feb. 29, 2024	May 31, 2023
4.30% Senior Notes due August 1, 2032
Debt Instrument [Line Items]
Debt, interest rate	4.30%	4.30%
Debt, maturity date	Aug. 01, 2032	Aug. 01, 2032
2.06% Series A Senior Note due August 23, 2031
Debt Instrument [Line Items]
Debt, interest rate	2.06%	2.06%
Debt, maturity date	Aug. 23, 2031	Aug. 23, 2031
2.40% Series B Senior Notes due August 23, 2034
Debt Instrument [Line Items]
Debt, interest rate	2.40%	2.40%
Debt, maturity date	Aug. 23, 2034	Aug. 23, 2034

Debt and Receivables Securiti_5

Debt and Receivables Securitization - Maturities on Long-term Debt and Short-term Borrowings (Detail) $ in Thousands	Feb. 29, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 267
Thereafter	299,081
Total	$ 299,348

Debt and Receivables Securiti_6

Debt and Receivables Securitization - Additional Information (Detail) - USD ($)				9 Months Ended
	Sep. 27, 2023	Sep. 26, 2023	Jul. 28, 2023	Feb. 29, 2024	Jun. 29, 2023	May 31, 2023	May 19, 2022
Debt And Receivables Securitization [Line Items]
Long-term debt				$ 299,348,000
Non-cash loss recognised				(1,534,000)
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total				$ (1,386,000)		$ (2,181,000)
Line of credit facility, description				On September 27, 2023, we amended and restated the Credit Facility, extending the final maturity from August 20, 2026 to September 27, 2028, while keeping in place the $500,000 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 Simple SOFR, the Prime Rate of PNC Bank, National Association or the Overnight Bank Funding Rate.
Borrowings outstanding				$ 0
2026 Notes
Debt And Receivables Securitization [Line Items]
Principal amount			$ 243,623,000	6,377,000
Long-term debt						$ 243,623,000
Non-cash loss recognised			$ 1,534,000
Unsecured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	$ 500,000,000
Maturity date	Sep. 27, 2028	Aug. 20, 2026
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
Early termination, other similar fees and penalties paid					$ 0

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						9 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ (615)			$ 1,421			$ 1,555	$ (7,549)
Foreign currency translation, tax	(85)			142			88	(131)
Foreign currency translation, net of tax	(700)			1,563			1,643	(7,680)
Pension liability adjustment, before tax	8,927			415			8,927	4,155
Pension liability adjustment, tax	(2,122)			(92)			(2,125)	(975)
Pension liability adjustment	6,805			323			6,802	3,180
Cash flow hedges, before tax	564			43,963			9,140	21,201
Cash flow hedges, tax	(346)			(9,621)			(2,224)	(4,159)
Cash flow hedges, net of tax	218			34,342			6,916	17,042
Other comprehensive income (loss), before tax	8,876			45,799			19,622	17,807
Other comprehensive income (loss), tax	(2,553)			(9,571)			(4,261)	(5,265)
Other comprehensive income (loss)	$ 6,323	$ 14,446	$ (5,408)	$ 36,228	$ (3,224)	$ (20,462)	$ 15,361	$ 12,542

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						9 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Balance	$ 1,923,967	$ 1,901,916	$ 1,821,628	$ 1,639,292	$ 1,646,972	$ 1,613,962	$ 1,821,628	$ 1,613,962
Net earnings	22,000	28,167	99,703	50,258	19,505	65,244	149,869	135,007
Other comprehensive (loss) income	6,323	14,446	(5,408)	36,228	(3,224)	(20,462)	15,361	12,542
Common shares issued, net of withholding tax	(1,023)	(9,207)	(5,130)	704	(649)	(3,466)
Common shares in non-qualified plans	53	195	130	107	298	136
Stock-based compensation	2,071	4,511	8,995	3,818	3,620	6,976
Separation of Worthington Steel	(1,030,899)
Cash dividends declared	(8,050)	(16,061)	(16,081)	(15,149)	(15,470)	(15,418)
Dividends to noncontrolling interests			(1,921)		(11,760)
Balance	914,442	1,923,967	1,901,916	1,715,258	1,639,292	1,646,972	914,442	1,715,258
Additional Paid-in Capital
Balance	290,293	294,794	290,799	280,354	277,085	273,439	290,799	273,439
Common shares issued, net of withholding tax	(1,023)	(9,207)	(5,130)	704	(649)	(3,466)
Common shares in non-qualified plans	53	195	130	107	298	136
Stock-based compensation	2,071	4,511	8,995	3,818	3,620	6,976
Balance	291,394	290,293	294,794	284,983	280,354	277,085	291,394	284,983
AOCI, Net of Tax
Balance	(14,141)	(28,587)	(23,179)	(46,536)	(43,312)	(22,850)	(23,179)	(22,850)
Other comprehensive (loss) income	6,323	14,446	(5,408)	36,228	(3,224)	(20,462)
Separation of Worthington Steel	(717)						(717)
Balance	(8,535)	(14,141)	(28,587)	(10,308)	(46,536)	(43,312)	(8,535)	(10,308)
Retained Earnings
Balance	1,516,657	1,508,416	1,428,391	1,279,575	1,278,827	1,230,163	1,428,391	1,230,163
Net earnings	22,000	24,302	96,106	46,325	16,218	64,082
Separation of Worthington Steel	(901,370)
Cash dividends declared	(8,050)	(16,061)	(16,081)	(15,149)	(15,470)	(15,418)
Balance	629,237	1,516,657	1,508,416	1,310,751	1,279,575	1,278,827	629,237	1,310,751
Parent
Balance	1,792,809	1,774,623	1,696,011	1,513,393	1,512,600	1,480,752	1,696,011	1,480,752
Net earnings	22,000	24,302	96,106	46,325	16,218	64,082
Other comprehensive (loss) income	6,323	14,446	(5,408)	36,228	(3,224)	(20,462)
Common shares issued, net of withholding tax	(1,023)	(9,207)	(5,130)	704	(649)	(3,466)
Common shares in non-qualified plans	53	195	130	107	298	136
Stock-based compensation	2,071	4,511	8,995	3,818	3,620	6,976
Separation of Worthington Steel	(902,087)
Cash dividends declared	(8,050)	(16,061)	(16,081)	(15,149)	(15,470)	(15,418)
Balance	912,096	1,792,809	1,774,623	1,585,426	1,513,393	1,512,600	912,096	1,585,426
Noncontrolling Interest
Balance	131,158	127,293	125,617	125,899	134,372	133,210	125,617	133,210
Net earnings		3,865	3,597	3,933	3,287	1,162
Separation of Worthington Steel	(128,812)
Dividends to noncontrolling interests			(1,921)		(11,760)
Balance	$ 2,346	$ 131,158	$ 127,293	$ 129,832	$ 125,899	$ 134,372	$ 2,346	$ 129,832

Changes in Equity - Summary o_2

Changes in Equity - Summary of Changes in AOCI (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 1,923,967	$ 1,639,292	$ 1,821,628	$ 1,613,962
Income tax effect		(2,553)	(9,571)	(4,261)	(5,265)
Separation of Worthington Steel		(1,030,899)
Balance		914,442	1,715,258	914,442	1,715,258
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(22,123)	(15,310)
Other comprehensive income (loss) before reclassifications				1,555	(7,549)
Income tax effect				88	(131)
Separation of Worthington Steel				10,874
Balance		(9,606)	(22,990)	(9,606)	(22,990)
Pension Liability Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(1,730)	(6,244)
Other comprehensive income (loss) before reclassifications				60	(619)
Reclassification adjustments to net earnings	[1],[2]			8,867	4,774
Income tax effect				(2,125)	(975)
Separation of Worthington Steel				(5,984)
Balance		(912)	(3,064)	(912)	(3,064)
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				674	(1,296)
Other comprehensive income (loss) before reclassifications				14,893	(2,999)
Reclassification adjustments to net earnings	[1],[2]			(5,753)	24,200
Income tax effect				(2,224)	(4,159)
Separation of Worthington Steel				(5,607)
Balance		1,983	(15,746)	1,983	(15,746)
AOCI
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(14,141)	(46,536)	(23,179)	(22,850)
Other comprehensive income (loss) before reclassifications				16,508	(11,167)
Reclassification adjustments to net earnings	[1],[2]			3,114	28,974
Income tax effect				(4,261)	(5,265)
Separation of Worthington Steel		(717)		(717)
Balance		$ (8,535)	$ (10,308)	$ (8,535)	$ (10,308)
[1] Cash flow hedges – Disclosure of reclassification adjustments classified within continuing operations is provided in “Note Q – Derivative Financial Instruments and Hedging Activities.” The residual amount relates to Worthington Steel and has been presented within discontinued operations. Pension liability adjustment – Reflects the acceleration of deferred pension costs in AOCI related to separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies.

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail) shares in Thousands	9 Months Ended
	Feb. 29, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Beginning Balance	573
Converted to Worthington Steel common shares	(61)	[1]
Separation related adjustment	254
Granted	58
Exercised	(126)
Forfeited	(7)
Outstanding, Ending Balance	691
Weighted Average Exercise Price
Outstanding, Beginning Balance | $ / shares	$ 42.61
Converted to Worthington Steel common shares | $ / shares	51.44	[1]
Granted | $ / shares	68.68
Exercised | $ / shares	39.73
Forfeited | $ / shares	45.91
Outstanding, Ending Balance | $ / shares	$ 28.83
[1] Effective as of the Distribution, each outstanding stock option held by a then-current or former employee or service provider of Worthington Steel was converted into a stock option denominated in the common shares of Worthington Steel.

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted			58,000
Non-qualified stock option, per share weighted average price			$ 68.68
Pre-tax stock-based compensation expense	$ 2,602	$ 4,975	$ 13,294	$ 13,758
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted			58,000
Non-qualified stock option, weighted average fair value, per share price			$ 25.61
Pre-tax stock-based compensation, period of recognition			3 years
Pre-tax stock-based compensation expense			$ 1,485
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			$ 13,831
Restricted common shares, granted			214,000
Restricted common shares, fair value per share			$ 64.57
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common shares, granted			113,000
Restricted common shares, fair value per share			$ 52.73
Pre-tax stock-based compensation, period of recognition			3 years

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions To Value Stock Options (Detail) - Non-Qualified Stock Options	9 Months Ended
	Feb. 29, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.34%
Expected volatility	42.62%
Risk-free interest rate	4.04%
Expected term (years)	6 years

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Service-Based Restricted Common Shares (Detail) - Service-Based Restricted Common Shares shares in Thousands	9 Months Ended
	Feb. 29, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, Beginning Balance	800
Converted to Worthington Steel common shares	(296)	[1]
Separation related adjustment	220
Granted	214
Vested	(337)
Forfeited	(20)
Outstanding, Ending Balance	581
Weighted Average Grant Date Fair Value
Outstanding, Beginning Balance | $ / shares	$ 47.39
Converted to Worthington Steel common shares | $ / shares	55.7	[1]
Granted | $ / shares	64.57
Vested | $ / shares	39.17
Forfeited | $ / shares	47.07
Outstanding, Ending Balance | $ / shares	$ 36.34
[1] Effective as of the Distribution, each restricted stock award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel common shares.

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Performance Activity (Detail) - Performance Shares shares in Thousands	9 Months Ended
	Feb. 29, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, Beginning Balance	172
Converted to Worthington Steel common shares	(39)	[1]
Separation related adjustment	58
Granted	113
Vested	(131)
Forfeited	(25)
Outstanding, Ending Balance	148
Weighted Average Grant Date Fair Value
Outstanding, Beginning Balance | $ / shares	$ 46.37
Converted to Worthington Steel common shares | $ / shares	56.99	[1]
Granted | $ / shares	52.73
Vested | $ / shares	39.93
Forfeited | $ / shares	36.02
Outstanding, Ending Balance | $ / shares	$ 37.7
[1] Effective as of the Distribution, each performance share award held by an employee or director of Worthington Steel was converted into a restricted stock award covering Worthington Steel shares.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate	30.80%	22.60%

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		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Numerator (basic & diluted):
Net earnings from continuing operations	$ 22,000	$ 29,751	$ 66,763	$ 75,625
Denominator:
Denominator for basic EPS from continuing operations - weighted average common shares	49,315	48,587	49,113	48,541
Effect of dilutive securities	1,102	906	1,158	815
Denominator for diluted EPS from continuing operations - Weighted average common shares	50,417	49,493	50,271	49,356
Basic EPS from continuing operations	$ 0.45	$ 0.61	$ 1.36	$ 1.56
Diluted EPS from continuing operations	$ 0.44	$ 0.6	$ 1.33	$ 1.53

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Earnings Per Share [Abstract]
Shares excluded from computation of diluted earnings per share	55	94	61	89

Segment Operations - Additional

Segment Operations - Additional Information (Detail)	9 Months Ended
	Feb. 29, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Operations - Financial

Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Feb. 29, 2024		Feb. 28, 2023		Feb. 29, 2024		Feb. 28, 2023		May 31, 2023
Segment Reporting Information [Line Items]
Net sales	[1]	$ 316,755		$ 346,315		$ 926,902		$ 1,049,694
Impairment of long-lived assets	[1]			484				484
Restructuring and other expense (income), net	[1]	698		823		704		(354)
Separation costs	[1]	2,999		2,305		12,465		3,572
Miscellaneous income (expense), net	[1]	(6,995)		217		(5,983)		(4,499)
Loss on extinguishment of debt						1,534
Equity income	[1]	43,235		37,111		127,328		102,004
Adjusted EBITDA		40,471		37,142		100,804		96,334
Total assets of continuing operations		1,704,689				1,704,689				$ 3,650,918
Continuing Operations
Segment Reporting Information [Line Items]
Total assets of continuing operations		1,704,689				1,704,689				1,890,122
Consumer products
Segment Reporting Information [Line Items]
Net sales		133,181		130,684		369,923		406,479
Restructuring and other expense (income), net				206				206
Miscellaneous income (expense), net		12		(12)		49		(78)
Adjusted EBITDA		25,649	[2]	21,100	[3],[4]	52,537	[1],[2],[3],[4],[5]	67,846	[2],[3],[4]
Total assets of continuing operations		566,715				566,715				544,911
Building Products
Segment Reporting Information [Line Items]
Net sales		148,190		183,839		465,421		542,536
Impairment of long-lived assets				484				484
Restructuring and other expense (income), net		84		617		84		617
Miscellaneous income (expense), net		154		122		452		405
Equity income		43,813		37,836		124,032		116,809
Adjusted EBITDA		53,059	[2]	58,097	[3],[4]	158,501	[1],[2],[3],[4],[5]	157,458	[2],[3],[4]
Total assets of continuing operations		678,699				678,699				706,169
Sustainable Energy Solutions
Segment Reporting Information [Line Items]
Net sales		35,384		31,792		91,558		100,679
Miscellaneous income (expense), net		328		(37)		1,165		19
Adjusted EBITDA		(2,667)	[2]	212	[3],[4]	(6,434)	[1],[2],[3],[4],[5]	2,932	[2],[3],[4]
Total assets of continuing operations		144,543				144,543				129,872
Unallocated Corporate and Other
Segment Reporting Information [Line Items]
Restructuring and other expense (income), net		614				620		(1,177)
Separation costs		2,999		2,305		12,465		3,572
Miscellaneous income (expense), net		(7,489)		144		(7,649)		(4,845)
Loss on extinguishment of debt						(1,534)
Equity income		(578)		(725)		3,296		(14,805)
Adjusted EBITDA		(9,170)	[2]	(9,193)	[3],[4]	(16,775)	[1],[2],[3],[4],[5]	(15,948)	[2],[3],[4]
Total assets of continuing operations		314,732				314,732				$ 509,170
Consolidated
Segment Reporting Information [Line Items]
Loss on extinguishment of debt	[1]					(1,534)
Adjusted EBITDA	[1]	$ 66,871	[2]	$ 70,216	[3],[4]	$ 187,829	[2],[3],[4],[5]	$ 212,288	[2],[3],[4]
[1] A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023. Excludes pre-tax charges of $ 8,103 and $ 4,774 from separate pension lift-out transactions completed in February 2024 and August 2022, respectively, to transfer the pension benefit obligation under The Gerstenslager Company Bargaining Unit Employees’ Pension Plan to third-party insurance companies. Excludes the following items reflected in Equity Income in our consolidated statements of earnings: • For the nine months ended February 29, 2024, our share of the gain realized by our engineered cabs joint venture, Workhorse, in connection with the sale of the joint venture’s operations in Brazil, which totaled $ 2,780 on a pre-tax basis. • For the nine months ended February 28, 2023, the loss realized in connection with the August 3, 2022, sale of our then 50 % noncontrolling equity investment in ArtiFlex, or $ 16,059 on a pre-tax basis, including $ 300 of transaction costs during the three months ended February 28, 2023. Reflects reductions in certain corporate overhead costs that no longer exist post-Separation. These costs were included in continuing operations as they represent general corporate overhead that was historically allocated to Worthington Steel but did not meet the requirements to be presented as discontinued operations. Excludes a pre-tax loss of $ 1,534 realized in connection with the July 28, 2023, early redemption of the 2026 Notes. The loss resulted primarily from unamortized issuance costs and discount included in the carrying amount of the 2026 Notes and the acceleration of the remaining unamortized loss in equity related to a treasury lock derivative instrument executed in connection with the issuance of the 2026 Notes.

Segment Operations - Financia_2

Segment Operations - Financial Information for Reportable Segments (Parenthetical) (Detail) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Jul. 28, 2023	Aug. 03, 2022	Feb. 28, 2023	Aug. 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Segment Reporting Information [Line Items]
Pre-tax charges				$ 4,774	$ 8,103
Pre-tax gain on sale of joint venture facility					$ 2,780
Pre-tax loss on early redemption of 2026 notes	$ 1,534
ArtiFlex
Segment Reporting Information [Line Items]
Loss on sale of equity investments		$ 16,059				$ 16,059
Transaction costs related to sale			$ 300
Noncontrolling equity investment			50%		50%	50%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Feb. 01, 2024	Jun. 02, 2022
HPG
Business Acquisition [Line Items]
Percent of controlling interest by the Company	80%
Percent of noncontrolling interest	20%
Purchase price	$ 9,386
Customer overpayment held back at closing	$ 679
Level5 Tools, LLC
Business Acquisition [Line Items]
Purchase price		$ 59,472
Earnout payment		2,000
Potential earn out payment		25,000
Level5 Tools, LLC | Earnout Agreement
Business Acquisition [Line Items]
Purchase price		59,321
Earnout payment		2,000
Level5 Tools, LLC | Preliminary Valuation
Business Acquisition [Line Items]
Purchase price		59,321
Earnout payment		$ 2,000

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	Feb. 01, 2024	Jun. 02, 2022
Halo
Business Acquisition [Line Items]
Acquired indefinite lived intangible assets	$ 4,500
Halo | Trade Name
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Acquired indefinite lived intangible assets	$ 3,500
Halo | Product Design/Know-How
Business Acquisition [Line Items]
Useful Life (Years)	8 years
Acquired indefinite lived intangible assets	$ 800
Halo | Customer Relationships
Business Acquisition [Line Items]
Useful Life (Years)	8 years
Acquired indefinite lived intangible assets	$ 200
Level5 Tools, LLC
Business Acquisition [Line Items]
Total acquired identifiable intangible assets		$ 33,580
Acquired indefinite lived intangible assets		33,580
Level5 Tools, LLC | Trade Name
Business Acquisition [Line Items]
Acquired indefinite lived intangible assets		$ 13,500
Level5 Tools, LLC | Customer Relationships
Business Acquisition [Line Items]
Useful Life (Years)		10 years
Acquired indefinite lived intangible assets		$ 13,300
Level5 Tools, LLC | Technological Know How
Business Acquisition [Line Items]
Useful Life (Years)		20 years
Acquired indefinite lived intangible assets		$ 6,500
Level5 Tools, LLC | Non Compete Agreement
Business Acquisition [Line Items]
Useful Life (Years)		3 years
Acquired indefinite lived intangible assets		$ 280

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration Transferred and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Feb. 01, 2024	Jun. 02, 2022	Feb. 29, 2024	May 31, 2023
Business Acquisition [Line Items]
Goodwill			$ 345,445	$ 336,178
Halo | Preliminary Valuation
Business Acquisition [Line Items]
Accounts receivable	$ 88
Inventories	5,511
Property, plant and equipment	1,732
Intangible assets	4,500
Total identifiable assets	11,831
Accounts payable	(7,293)
Other accrued items	(1,099)
Net identifiable assets	3,439
Goodwill	8,294
Net assets	11,733
Noncontrolling interest	(2,347)
Total purchase price	$ 9,386
Level5 Tools, LLC
Business Acquisition [Line Items]
Cash and cash equivalents		$ 1,515
Accounts receivable		2,860
Inventories		9,161
Prepaid expenses		64
Property, plant and equipment		273
Intangible assets		33,580
Operating lease assets		377
Total identifiable assets		47,830
Accounts payable		(3,175)
Accrued expenses		(753)
Current operating lease liabilities		(111)
Noncurrent operating lease liabilities		(266)
Net identifiable assets		43,525
Goodwill		15,947
Total purchase price		59,472
Less: Fair value of earnout		(2,000)
Plus: Net working capital deficit		131
Cash purchase price		57,603
Level5 Tools, LLC | Preliminary Valuation
Business Acquisition [Line Items]
Cash and cash equivalents		1,515
Accounts receivable		2,860
Inventories		9,161
Prepaid expenses		64
Property, plant and equipment		273
Intangible assets		33,580
Operating lease assets		377
Total identifiable assets		47,830
Accounts payable		(3,175)
Accrued expenses		(904)
Current operating lease liabilities		(111)
Noncurrent operating lease liabilities		(266)
Net identifiable assets		43,374
Goodwill		15,947
Total purchase price		59,321
Less: Fair value of earnout		(2,000)
Plus: Net working capital deficit		282
Cash purchase price		57,603
Level5 Tools, LLC | Measurement Period Adjustments
Business Acquisition [Line Items]
Accrued expenses		151
Net identifiable assets		151
Total purchase price		151
Plus: Net working capital deficit		$ (151)

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Feb. 29, 2024	May 31, 2023
Derivative [Line Items]
Fair Value of Assets	$ 1,398	$ 314
Fair Value of Liabilities	563	5,948
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	1,090	20
Fair Value of Liabilities	115	4,339
Derivatives Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Fair Value of Liabilities	115	4,069
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Fair Value of Assets	1,064	20
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Fair Value of Assets	26
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Fair Value of Liabilities		237
Derivatives Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Accounts Payable
Derivative [Line Items]
Fair Value of Liabilities		33
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	308	294
Fair Value of Liabilities	448	1,609
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Fair Value of Liabilities	445	1,609
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Fair Value of Assets	308	$ 294
Derivatives Not Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Accounts Payable
Derivative [Line Items]
Fair Value of Liabilities	$ 3

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Feb. 29, 2024	May 31, 2023
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	$ 174	$ 272
Losses in accumulated other comprehensive income expected to be reclassified into net earnings	903
Losses in accumulated other comprehensive income expected to be reclassified into net earnings, tax	$ 232

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Derivative [Line Items]
Notional Amount	$ 229	$ 2,692	$ (835)	$ 4,873
Commodity Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount			$ 1,648
Commodity Contracts | Minimum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)			Mar. 31, 2024
Commodity Contracts | Maximum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)			Dec. 31, 2024
Foreign Currency Exchange Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount			$ 7,034
Foreign Currency Exchange Contracts | Minimum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)			Mar. 31, 2024
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 9,113		$ 9,113
Cash Flow Hedges | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date(s)			Mar. 31, 2024
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date(s)			Jun. 30, 2025

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		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ 1,944	$ 7,159	$ 3,542	$ (7,646)
Gain (Loss) Reclassified from AOCI into Net Earnings	1,380	(4,798)	(1,471)	(10,952)
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	1,944
Gain (Loss) Reclassified from AOCI into Net Earnings	1,328
Commodity Contracts | Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		7,093	3,553	(7,770)
Gain (Loss) Reclassified from AOCI into Net Earnings		(4,858)	(921)	(10,925)
Interest Rate Contract
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 52
Interest Rate Contract | Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings		(7)	(642)	(20)
Interest Rate Contracts | Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings			136
Foreign Currency Exchange Contracts | Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		66	(11)	124
Gain (Loss) Reclassified from AOCI into Net Earnings		$ 67	$ (44)	$ (7)

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		9 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Feb. 29, 2024	Feb. 28, 2023
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ 229	$ 2,692	$ (835)	$ 4,873
Commodity Contracts | Cost of Sales | Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	311	2,613	(832)	4,841
Foreign Currency Exchange Contracts | Miscellaneous Income, Net | Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ (82)	$ 79	$ (3)	$ 32

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		Feb. 29, 2024	May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		$ 1,398	$ 314
Liabilities		563	5,948
Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	1,398
Liabilities	[1]	563
Derivative Financial Instruments | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]		314
Liabilities	[2]		5,948
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		1,398	314
Liabilities		563	5,948
Fair Value, Inputs, Level 2 | Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	1,398
Liabilities	[1]	$ 563
Fair Value, Inputs, Level 2 | Derivative Financial Instruments | Continuing Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]		314
Liabilities	[2]		$ 5,948
[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. 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 $ in Thousands	May 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 70
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	70
Long Lived Assets Held and Used
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	70
Long Lived Assets Held and Used | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 70

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Feb. 28, 2023	Feb. 28, 2023	May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge of long-lived assets	[1]	$ 484	$ 484
Capital Project | Building Products Facility | Jefferson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated salvage value				$ 70
[1] A reconciliation of net earnings from continuing operations (the most comparable GAAP financial measure) to consolidated adjusted EBITDA is included in the MD&A “Results of Operations” section of this Form 10-Q for the respective three and nine months ended February 29, 2024 and February 28, 2023.

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($) $ in Thousands	Feb. 29, 2024	May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 227,908	$ 639,948
Long-term debt at carrying amount including current maturities	$ 297,962	$ 689,982