Worthington Industries (WOR) 10-Q10 Jan 252025 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Nov. 30, 2024	Jan. 06, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
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		50,044,032
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2024	May 31, 2024
Current assets:
Cash and cash equivalents	$ 193,805	$ 244,225
Receivables, less allowances of $2,553 and $343, respectively	184,925	199,798
Inventories:
Raw materials	74,921	66,040
Work in process	10,577	11,668
Finished products	93,965	86,907
Total inventories	179,463	164,615
Income taxes receivable	9,417	17,319
Prepaid expenses and other current assets	35,389	47,936
Total current assets	602,999	673,893
Investments in unconsolidated affiliates	135,218	144,863
Operating lease assets	23,015	18,667
Goodwill	369,799	331,595
Other intangible assets, net of accumulated amortization of $89,638 and $83,242, respectively	244,102	221,071
Other assets	22,309	21,342
Property, plant and equipment:
Land	8,632	8,657
Buildings and improvements	129,684	123,478
Machinery and equipment	356,678	321,836
Construction in progress	27,330	24,504
Total property, plant and equipment	522,324	478,475
Less: accumulated depreciation	262,749	251,269
Total property, plant and equipment, net	259,575	227,206
Total assets	1,657,017	1,638,637
Current liabilities:
Accounts payable	83,262	91,605
Accrued compensation, contributions to employee benefit plans and related taxes	28,499	41,974
Dividends payable	9,040	9,038
Other accrued items	42,357	29,061
Current operating lease liabilities	5,396	6,228
Income taxes payable	910	470
Total current liabilities	169,464	178,376
Other liabilities	60,305	62,243
Distributions in excess of investment in unconsolidated affiliate	110,763	111,905
Long-term debt	295,721	298,133
Noncurrent operating lease liabilities	18,090	12,818
Deferred income taxes, net	89,716	84,150
Total liabilities	744,059	747,625
Shareholders' equity - controlling interest	911,321	888,879
Noncontrolling interests	1,637	2,133
Total equity	912,958	891,012
Total liabilities and equity	$ 1,657,017	$ 1,638,637

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2024	May 31, 2024
Statement of Financial Position [Abstract]
Receivables, allowances	$ 2,553	$ 343
Other intangible assets, accumulated amortization	$ 89,638	$ 83,242

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Income Statement [Abstract]
Net sales	$ 274,046	$ 298,229	$ 531,354	$ 610,147
Cost of goods sold	199,987	234,951	394,800	477,239
Gross profit	74,059	63,278	136,554	132,908
Selling, general and administrative expense	67,918	70,583	133,954	145,128
Restructuring and other expense, net	2,620	6	3,778	6
Separation costs		7,056		9,466
Operating income (loss)	3,521	(14,367)	(1,178)	(21,692)
Other income (expense):
Miscellaneous income, net	65	714	551	1,013
Loss on extinguishment of debt				(1,534)
Interest expense, net	(1,033)	(472)	(1,522)	(1,546)
Equity in net income of unconsolidated affiliates	34,556	38,668	70,048	84,092
Earnings before income taxes	37,109	24,543	67,899	60,333
Income tax expense	9,100	6,609	15,882	15,569
Net earnings from continuing operations	28,009	17,934	52,017	44,764
Net earnings from discontinued operations		10,233		83,106
Net earnings	28,009	28,167	52,017	127,870
Net earnings (loss) attributable to noncontrolling interests	(251)	3,865	(496)	7,461
Net earnings attributable to controlling interest	28,260	24,302	52,513	120,409
Amounts attributable to controlling interest:
Net earnings from continuing operations	28,260	17,934	52,513	44,764
Net earnings from discontinued operations		6,368		75,645
Net earnings attributable to controlling interest	$ 28,260	$ 24,302	$ 52,513	$ 120,409
Earnings per share from continuing operations - basic	$ 0.57	$ 0.36	$ 1.06	$ 0.91
Earnings per share from discontinued operations - basic		0.13		1.55
Net earnings per share attributable to controlling interest - basic	0.57	0.49	1.06	2.46
Earnings per share from continuing operations - diluted	0.56	0.36	1.04	0.89
Earnings per share from discontinued operations - diluted		0.13		1.51
Net earnings per share attributable to controlling interest - diluted	$ 0.56	$ 0.49	$ 1.04	$ 2.4
Weighted average common shares outstanding - basic	49,464	49,186	49,475	49,013
Weighted average common shares outstanding - diluted	50,138	50,042	50,264	50,102
Cash dividends declared per common share	$ 0.17	$ 0.32	$ 0.34	$ 0.64

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 28,009	$ 28,167	$ 52,017	$ 127,870
Other comprehensive income (loss), net of tax
Foreign currency translation	(3,276)	897	(2,735)	2,342
Pension liability adjustment	13		6	(3)
Cash flow hedges	(57)	13,549	(107)	6,699
Other comprehensive income (loss), net of tax	(3,320)	14,446	(2,836)	9,038
Comprehensive income	24,689	42,613	49,181	136,908
Comprehensive income (loss) attributable to noncontrolling interests	(251)	3,865	(496)	7,461
Comprehensive income attributable to controlling interest	$ 24,940	$ 38,748	$ 49,677	$ 129,447

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)		3 Months Ended						6 Months Ended				12 Months Ended
Consolidated Statements of Cash Flows - USD ($)		Nov. 30, 2024		Aug. 31, 2024	Nov. 30, 2023		Aug. 31, 2023	Nov. 30, 2024		Nov. 30, 2023		May 31, 2024
Operating activities:
Net earnings		$ 28,009,000		$ 24,008,000	$ 28,167,000		$ 99,703,000	$ 52,017,000		$ 127,870,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		11,927,000			28,007,000			23,757,000		56,332,000
Impairment of long-lived assets										1,401,000
Provision for (benefit from) deferred income taxes		2,682,000			1,968,000			(2,855,000)		(3,485,000)
Loss on extinguishment of debt										1,534,000
Bad debt (expense) income		2,069,000			345,000			2,061,000		(454,000)
Equity in net income of unconsolidated affiliates, net of distributions		4,268,000			(4,129,000)			7,721,000		6,096,000
Net gain on sale of assets		(508,000)			(439,000)			(526,000)		(334,000)
Stock-based compensation		5,937,000			6,175,000			9,862,000		10,691,000
Changes in assets and liabilities, net of impact of acquisitions:
Receivables		(18,636,000)			76,704,000			9,530,000		67,861,000
Inventories		7,836,000			103,150,000			1,430,000		38,823,000
Accounts payable		447,000			(75,373,000)			(12,646,000)		(75,095,000)
Accrued compensation and employee benefits		(2,021,000)			2,794,000			(13,466,000)		(9,220,000)
Other operating items, net		7,043,000			(32,379,000)			13,314,000		(27,334,000)
Net cash provided by operating activities		49,053,000			134,990,000			90,199,000		194,686,000
Investing activities:
Investment in property, plant and equipment		(15,161,000)			(32,876,000)			(24,790,000)		(62,174,000)
Acquisitions, net of cash acquired		731,000			(21,013,000)			(88,156,000)		(21,013,000)
Proceeds from sale of assets, net of selling costs		1,616,000			751,000			13,385,000		802,000
Investment in non-marketable equity securities		(40,000)			(1,500,000)			(2,040,000)		(1,540,000)
Investment in note receivable										(15,000,000)
Excess distributions from unconsolidated affiliate		0			1,085,000					1,085,000
Net cash used by investing activities		(12,854,000)			(53,553,000)			(101,601,000)		(97,840,000)
Financing activities:
Dividends paid		(8,969,000)			(17,333,000)			(17,085,000)		(33,058,000)
Repurchase of common shares		(8,079,000)						(14,882,000)
Proceeds from issuance of common shares, net of tax withholdings		(3,893,000)			(9,207,000)			(7,051,000)		(14,337,000)
Net proceeds from short-term borrowings	[1]				175,000,000					172,187,000
Principal payments on long-term obligations										(243,757,000)
Payments to noncontrolling interests										(1,921,000)
Net cash provided (used) by financing activities		(20,941,000)			148,460,000			(39,018,000)		(120,886,000)
Increase (decrease) in cash and cash equivalents		15,258,000			229,897,000			(50,420,000)		(24,040,000)
Cash and cash equivalents at beginning of period		178,547,000		244,225,000	201,009,000		454,946,000	244,225,000		454,946,000		$ 454,946,000
Cash and cash equivalents at end of period		$ 193,805,000	[2]	$ 178,547,000	$ 430,906,000	[2]	$ 201,009,000	$ 193,805,000	[2]	$ 430,906,000	[2]	$ 244,225,000

[1] Net proceeds in fiscal 2024 consisted of borrowings under Worthington Steel’s short-term credit facilities assumed by Worthington Steel in conjunction with the Separation. The cash flows related to discontinued operations have not been segregated in our consolidated statements of cash flows. See “ Note B – Discontinued Operations ” for a summarization of significant non-cash items related to discontinued operations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 28,260	$ 24,302	$ 52,513	$ 120,409

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Nov. 30, 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	6 Months Ended
Basis of Presentation	Nov. 30, 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. We own an 80 % controlling interest in Halo, which we acquired on February 1, 2024. Halo is consolidated with the equity owned by the other joint venture members shown as “noncontrolling interests” in our consolidated balance sheets, and the other joint venture members’ portions of net earnings and OCI are shown as net earnings or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. Net earnings and total equity in periods prior to the Separation include the minority interest of Worthington Steel. 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 C – 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 second quarter of fiscal 2025 are not necessarily indicative of the results that may be expected for the full fiscal year. For further information, refer to the consolidated financial statements and notes thereto included in the 2024 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. Separation of the Steel Processing Business On December 1, 2023, we completed the spin-off of our former steel processing business into an independent publicly traded company, Worthington Steel, on a tax-free basis. Accordingly, the operating results and financial position, of the former steel processing business, except for the minority partner’s portion of noncontrolling interest and accumulated other comprehensive income, are reported as discontinued operations for all periods presented, as discussed in further detail in “Note B – Discontinued Operations.” All discussion within this Form 10-Q, including amounts, percentages and disclosures for all periods presented, reflect only our continuing operations unless otherwise noted. In connection with the Separation, we entered into several agreements with Worthington Steel that govern our ongoing relationships, the most significant of which is the Steel Supply and Services Agreement. Other agreements include a Trademark License Agreement, a Transition Services Agreement, and certain long-term services agreements. Amounts under the Trademark License Agreement, Transition Services Agreement and long-term services agreements were not significant during the six months ended November 30, 2024. Pursuant to the Steel Supply and Services 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 the Steel Supply and Services Agreement for the three months and six months ended November 30, 2024 , totaled $ 23,024 and $ 51,455 , respectively, of which $ 5,977 was payable at November 30, 2024. 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. Receivables We review our receivables on an ongoing basis to ensure that they are properly valued and collectible. The allowance for doubtful accounts is used to record the estimated risk of loss related to our customers’ inability to pay. This allowance is maintained at a level that we consider appropriate based on factors that affect collectability, such as the financial health of our customers, historical trends of charge-offs and recoveries and current economic and market conditions. Our allowance for doubtful accounts increased from $ 343 at May 31, 2024, to $ 2,553 at November 30, 2024, primarily due to a customer bankruptcy in Consumer Products. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires the disaggregation of certain expense captions into specified categories in disclosures within the notes to the financial statements to provide enhanced transparency into the expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted, and may be applied either prospectively or retrospectively to financial statements issued for reporting periods after the effective date of ASU 2024-03 or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact that the adoption of ASU 2024-03 will have on our related disclosures.

Discontinued Operations

Discontinued Operations	6 Months Ended
Discontinued Operations	Nov. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note B – Discontinued Operations The following table summarizes the financial results from the discontinued operations of Worthington Steel for the periods presented. Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Net sales $ 788,689 $ 1,670,027 Cost of goods sold 728,252 1,481,731 Gross profit 60,437 188,296 Selling, general and administrative expense 37,106 74,909 Impairment of long-lived assets - 1,401 Separation costs 14,895 18,521 Operating income 8,436 93,465 Other income (expense): Miscellaneous income, net 305 1,017 Interest expense, net ( 1,697 ) ( 3,706 ) Equity in net income of unconsolidated affiliate 3,778 12,735 Earnings before income taxes 10,822 103,511 Income tax expense 589 20,405 Net earnings 10,233 83,106 Net earnings attributable to noncontrolling interest 3,865 7,461 Net earnings attributable to controlling interest $ 6,368 $ 75,645 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 statement of cash flows for the three and six months ended November 30, 2023 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. The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statement of cash flows for the periods presented. Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Significant non-cash operating items: Depreciation and amortization $ 15,793 $ 32,043 Impairment of long-lived assets - 1,401 Equity in income of unconsolidated affiliate, net of distributions ( 3,777 ) ( 12,734 ) Stock-based compensation 2,315 3,472 Significant investing activities: Investment in property, plant and equipment ( 13,682 ) ( 33,457 ) Acquisitions, net of cash acquired ( 21,013 ) ( 21,013 ) Significant financing activities: Net proceeds from short-term borrowings 175,000 172,187

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
Investments in Unconsolidated Affiliates	Nov. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note C – Investments in Unconsolidated Affiliates Investments in joint ventures that we do not control, either through majority ownership or otherwise, are unconsolidated and accounted for using the equity method. At November 30, 2024 , we held investments in the following unconsolidated joint ventures: ClarkDietrich ( 25 %); Sustainable Energy Solutions ( 49 %); WAVE ( 50 %); and Workhorse ( 20 %). We received distributions from unconsolidated affiliates totaling $ 77,769 during the six months ended November 30, 2024. We have received cumulative distributions from WAVE in excess of our investment balance, which resulted in a negative asset balance of $ 110,763 and $ 111,905 at November 30, 2024 and May 31, 2024, respectively. In accordance with the applicable accounting guidance, we have reclassified the negative balances to distributions in excess of investment in unconsolidated affiliate within 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 it becomes positive, it will again be shown as an asset on our consolidated balance sheets. If it becomes probable that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will immediately recognize any balance classified as a liability as income. We use the cumulative earnings approach to determine the 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 share of the cumulative equity in the net earnings of the joint venture. In such cases, the excess distributions are considered returns of investment and are classified as investing activities in our consolidated statements of cash flows. No distributions exceeded our share in any of our unconsolidated joint ventures during the second quarter of fiscal 2025 . During the second quarter of fiscal 2024, we classified $ 1,085 of 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: November 30, May 31, 2024 2024 Cash and cash equivalents $ 51,240 $ 36,163 Other current assets 547,436 605,043 Noncurrent assets 372,466 360,261 Total assets $ 971,142 $ 1,001,467 Current liabilities 212,806 264,963 Current maturities of long-term debt 3,208 13,450 Long-term debt 356,539 349,431 Other noncurrent liabilities 143,774 146,984 Equity 254,815 226,639 Total liabilities and equity $ 971,142 $ 1,001,467 Three Months Ended Six Months Ended November 30, November 30, 2024 2023 2024 2023 Net sales $ 492,990 $ 513,470 $ 1,008,663 $ 1,082,053 Gross profit 136,693 148,298 271,028 321,315 Operating income 90,847 118,958 185,193 250,405 Depreciation and amortization 7,725 7,224 15,731 14,800 Interest expense 4,529 4,538 9,287 10,277 Income tax expense 309 442 954 1,351 Net earnings 89,186 115,114 179,868 240,766

Restructuring and Other Expense

Restructuring and Other Expense, Net	6 Months Ended
Restructuring and Other Expense, Net	Nov. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Expense, Net	Note D – 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 making 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 expense, net financial statement caption in our consolidated statement of earnings for the six months ended November 30, 2024 is summarized below: Balance at Balance at May 31, 2024 Expense Payments November 30, 2024 Early retirement and severance $ 188 $ 1,017 $ ( 1,068 ) $ 137 Net loss on sale of assets 96 Stock-based compensation (1) 2,665 Restructuring and other expense, net $ 3,778 (1) Represents non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO, effective November 1, 2024. The total liability associated with our restructuring activities as of November 30, 2024 is expected to be paid in the next 12 months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	6 Months Ended
Contingent Liabilities and Commitments	Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Note E – Contingent Liabilities and Commitments Legal Proceedings We are defendants in certain legal actions. In the opinion of management, the outcome of these actions, which is not clearly determinable at the present time, would not significantly affect our consolidated financial position or future results of operations. We also believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations.

Guarantees

Guarantees	6 Months Ended
Guarantees	Nov. 30, 2024
Guarantees and Product Warranties [Abstract]
Guarantees	Note F – 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. At November 30, 2024, we also had in place $ 9,500 of outstanding 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 November 30, 2024.

Debt

Debt	6 Months Ended
Debt	Nov. 30, 2024
Debt Disclosure [Abstract]
Debt	Note G – Debt Our multi-year revolving Credit Facility is scheduled to mature on September 27, 2028 . 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 overnight bank funding rate, the prime rate of PNC Bank, National Association or the adjusted daily simple SOFR. The applicable margin is determined by our total leverage ratio. There we re no borro wings outstanding under the Credit Facility at November 30, 2024 or May 31, 2024, leaving $ 500,000 available for use.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
Other Comprehensive Income (Loss)	Nov. 30, 2024
Equity [Abstract]
Other Comprehensive Income (Loss)	Note H – Other Comprehensive Income (Loss) The following table summarizes the tax effects on each component of OCI for the periods presented: Three Months Ended November 30, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 2,902 ) $ ( 374 ) $ ( 3,276 ) $ 843 $ 54 $ 897 Pension liability adjustment 16 ( 3 ) 13 - - - Cash flow hedges ( 54 ) ( 3 ) ( 57 ) 17,390 ( 3,841 ) 13,549 Other comprehensive income (loss) $ ( 2,940 ) $ ( 380 ) $ ( 3,320 ) $ 18,233 $ ( 3,787 ) $ 14,446 Six Months Ended November 30, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 2,914 ) $ 179 $ ( 2,735 ) $ 2,170 $ 172 $ 2,342 Pension liability adjustment 9 ( 3 ) 6 - ( 3 ) ( 3 ) Cash flow hedges ( 119 ) 12 ( 107 ) 8,578 ( 1,879 ) 6,699 Other comprehensive income (loss) $ ( 3,024 ) $ 188 $ ( 2,836 ) $ 10,748 $ ( 1,710 ) $ 9,038

Changes in Equity

Changes in Equity	6 Months Ended
Changes in Equity	Nov. 30, 2024
Equity [Abstract]
Changes in Equity	Note I – Changes in Equity The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2024 $ 299,033 $ 454 $ 589,392 $ 888,879 $ 2,133 $ 891,012 Net earnings (loss) - - 24,253 24,253 ( 245 ) 24,008 Other comprehensive income - 484 - 484 - 484 Common shares issued, net of withholding tax ( 3,158 ) - - ( 3,158 ) - ( 3,158 ) Common shares in non-qualified plans 32 - - 32 - 32 Stock-based compensation 6,216 - - 6,216 - 6,216 Purchases and retirement of common shares ( 884 ) - ( 5,919 ) ( 6,803 ) - ( 6,803 ) Cash dividends declared - - ( 8,550 ) ( 8,550 ) - ( 8,550 ) Balance at August 31, 2024 $ 301,239 $ 938 $ 599,176 $ 901,353 $ 1,888 $ 903,241 Net earnings (loss) - - 28,260 28,260 ( 251 ) 28,009 Other comprehensive loss - ( 3,320 ) - ( 3,320 ) - ( 3,320 ) Common shares issued, net of withholding tax ( 3,893 ) - - ( 3,893 ) - ( 3,893 ) Common shares in non-qualified plans 56 - - 56 - 56 Stock-based compensation 5,539 - - 5,539 - 5,539 Purchases and retirement of common shares ( 1,212 ) - ( 6,867 ) ( 8,079 ) - ( 8,079 ) Cash dividends declared - - ( 8,595 ) ( 8,595 ) - ( 8,595 ) Balance at November 30, 2024 $ 301,729 $ ( 2,382 ) $ 611,974 $ 911,321 $ 1,637 $ 912,958 Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling 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 ) Balance at November 30, 2023 $ 290,293 $ ( 14,141 ) $ 1,516,657 $ 1,792,809 $ 131,158 $ 1,923,967 The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2024 $ ( 669 ) $ ( 441 ) $ 1,564 $ 454 OCI before reclassifications ( 2,914 ) 9 ( 758 ) ( 3,663 ) Reclassification adjustments to net earnings (1) - - 639 639 Income tax effect 179 ( 3 ) 12 188 Balance at November 30, 2024 $ ( 3,404 ) $ ( 435 ) $ 1,457 $ ( 2,382 ) Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) OCI before reclassifications 2,170 - 12,947 15,117 Reclassification adjustments to net earnings (1) - - ( 4,369 ) ( 4,369 ) Income tax effect 172 ( 3 ) ( 1,879 ) ( 1,710 ) Balance at November 30, 2023 $ ( 19,781 ) $ ( 1,733 ) $ 7,373 $ ( 14,141 ) —————————————————— (1) The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .” On March 20, 2019, the Board authorized the repurchase of up to 6,600,000 common shares. On March 24, 2021, the Board authorized the repurchase of up to an additional 5,618,464 common shares, increasing the total number of common shares then authorized for repurchase to 10,000,000 (net of previously repurchased common shares). During the six months ended November 30, 2024 , we repurchased a total of 350,000 of our common shares under these authorizations leaving 5,715,000 common shares available for repurchase at November 30, 2024. Common shares may be repurchased from time to time, with consideration given to the market price of the common shares, the nature of other investment opportunities, cash flows from operations, general economic conditions and other relevant considerations. Repurchases may be made on the open market or through privately-negotiated transactions.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note J – Stock-Based Compensation Non-Qualified Stock Options During the six months ended November 30, 2024, we granted non-qualified stock options covering a total of 54,200 common shares under our stock-based compensation plans. The weighted average exercise price was $ 44.38 for the non-qualified stock options granted during the six months ended November 30, 2024 , which was determined based on 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 $ 16.38 per share. The calculated pre-tax stock-based compensation expense for these non-qualified stock options was $ 888 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 six months ended November 30, 2024 was based on the following assumptions: Dividend yield 1.34 % Expected volatility 36.90 % Risk-free interest rate 3.97 % Expected term (years) 6.0 Due to the impact of the Separation on the comparability to the historical prices of the common shares, we are unable to use the historical volatility of the common shares to determine the expected volatility. Accordingly, we use a comparable peer group to determine the expected volatility of the common shares. 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 six months ended November 30, 2024 we granted an aggregate of 289,820 service-based restricted common shares under our stock-based compensation plans, which generally 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 $ 44.89 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares of $ 13,011 will be recognized on a straight-line basis over the three-year vesting period, net of any forfeitures. Performance Share Awards Outstanding performance share awards may be earned based on the level of achievement of corporate targets for cumulative corporate economic value added and EPS growth and, in the case of business unit executives, a business unit adjusted EBITDA from continuing operations target, in each case for the three-year periods ending May 31, 2025, 2026 and 2027. 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. During the six months ended November 30, 2024 , we granted performance share awards covering an aggregate of 42,100 common shares (at target levels). The calculated pre-tax stock-based compensation expense for these performance shares is $ 1,868 ( at target levels). The ultimate pre-tax stock-based compensation expense to be recognized over the three-year performance period on all tranches will vary based on our periodic assessment of the probability of the targets being achieved.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Nov. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note K – Income Taxes Income tax expense for the six months ended November 30, 2024 and November 30, 2023 reflected estimated annual ETRs of 24.1 % and 25.7 %, respectively. Management is required to estimate the annual ETR based upon its forecast of annual pre-tax income f or domestic and foreign operations. Our actual ETR for fiscal 2025 could be materially different from the forecasted rate as of November 30, 2024.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Nov. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	Note L – 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 Six Months Ended November 30, November 30, 2024 2023 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations attributable to controlling interest $ 28,260 $ 17,934 $ 52,513 $ 44,764 Denominator (shares in thousands): Basic EPS from continuing operations - weighted average common shares 49,464 49,186 49,475 49,013 Effect of dilutive securities 674 856 789 1,089 Diluted EPS from continuing operations - weighted average common shares 50,138 50,042 50,264 50,102 Basic EPS from continuing operations $ 0.57 $ 0.36 $ 1.06 $ 0.91 Diluted EPS from continuing operations $ 0.56 $ 0.36 $ 1.04 $ 0.89 Stock options covering an aggregate of 110,950 and 38,932 common shares for the three months ended November 30, 2024 and November 30, 2023 , respectively, and 90,391 and 32,892 for the six months ended November 30, 2024 and November 30, 2023, respectively, have been excluded from the computation of diluted EPS because the effect would have been antidilutive for those periods.

Segment Operations

Segment Operations	6 Months Ended
Segment Operations	Nov. 30, 2024
Segment Reporting [Abstract]
Segment Operations	Note M – Segment Operations Our operating segments reflect the way in which internally-reported financial information is regularly reviewed by the CODM to analyze performance, make decisions and allocate resources. We have identified our Chief Executive Officer as our CODM. Our CODM evaluates segment performance on the basis of adjusted EBITDA from continuing operations, as described in the “Use of Non-GAAP Financial Measures and Definitions” section. Factors used to identify operating segments include the nature of the products provided by each business, the management reporting structure, similarity of economic characteristics and certain quantitative measures, as prescribed by GAAP. Our operations are organized under two operating segments: Consumer Products and Building Products. Our former Sustainable Energy Solutions operating segment is presented within Unallocated Corporate and Other in periods prior to its deconsolidation on May 29, 2024. In periods subsequent to the deconsolidation transaction, o ur retained 49 % interest is accounted for under the equity method of accounting, as discussed in “ Note C – Investments in Unconsolidated Affiliates.” Unallocated Corporate and Other also includes certain assets and liabilities (e.g., public debt) held at the corporate level as well as general corporate expenses that are not directly attributable to our business operations and are administrative in nature, such as public company and other governance-related costs that benefit the organization as a whole. The following tables present summarized financial information for our reportable segments and Unallocated Corporate and Other for the periods indicated. A reconciliation from the GAAP financial measure of earnings before income taxes to the non-GAAP financial measure of adjusted EBITDA from continuing operations is provided directly following the summarized information below. Three Months Ended November 30, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 116,748 $ 157,298 $ 274,046 $ - $ 274,046 Capital expenditures 5,789 4,348 10,137 5,024 15,161 Depreciation and amortization 4,296 6,496 10,792 1,135 11,927 Restructuring and other expense, net - 514 514 2,106 2,620 Equity income - 34,294 34,294 262 34,556 Adjusted EBITDA from continuing operations 15,484 47,185 62,669 ( 6,456 ) 56,213 Three Months Ended November 30, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 119,389 $ 151,303 $ 270,692 $ 27,537 $ 298,229 Capital expenditures 4,194 6,987 11,181 21,695 32,876 Depreciation and amortization 4,112 5,927 10,039 2,176 12,215 Restructuring and other expense, net - 6 6 - 6 Separation costs - - - 7,056 7,056 Equity income - 35,176 35,176 3,492 38,668 Adjusted EBITDA from continuing operations 12,674 45,809 58,483 ( 3,439 ) 55,044 Six Months Ended November 30, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 234,343 $ 297,011 $ 531,354 $ - $ 531,354 Capital expenditures 10,733 8,057 18,790 6,000 24,790 Depreciation and amortization 8,595 12,867 21,462 2,295 23,757 Restructuring and other expense, net - 803 803 2,975 3,778 Equity income - 70,940 70,940 ( 892 ) 70,048 Adjusted EBITDA from continuing operations 33,259 86,914 120,173 ( 15,524 ) 104,649 Six Months Ended November 30, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 236,742 $ 317,231 $ 553,973 $ 56,174 $ 610,147 Capital expenditures 5,727 12,257 17,984 44,190 62,174 Depreciation and amortization 8,104 11,925 20,029 4,261 24,290 Restructuring and other expense, net - 6 6 - 6 Separation costs - - - 9,466 9,466 Equity income - 80,219 80,219 3,873 84,092 Adjusted EBITDA from continuing operations 26,889 105,442 132,331 ( 11,373 ) 120,958 Three Months Ended Six Months Ended November 30, November 30, 2024 2023 2024 2023 Earnings before income taxes $ 37,109 $ 24,543 $ 67,899 $ 60,333 Plus: Net loss attributable to noncontrolling interest 251 - 496 - Net earnings before income taxes attributable to controlling interest 37,360 24,543 68,395 60,333 Interest expense, net 1,033 472 1,522 1,546 EBIT (1) 38,393 25,015 69,917 61,879 Corporate costs eliminated at Separation - 9,671 - 19,343 Restructuring and other expense, net 2,620 6 3,778 6 Separation costs - 7,056 - 9,466 Loss on extinguishment of debt - - - 1,534 Gain on sale of assets in equity income - ( 2,780 ) - ( 2,780 ) Adjusted EBIT (1) 41,013 38,968 73,695 89,448 Depreciation and amortization 11,927 12,215 23,757 24,290 Stock-based compensation (2) 3,273 3,861 7,197 7,220 Adjusted EBITDA from continuing operations $ 56,213 $ 55,044 $ 104,649 $ 120,958 (1) EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance. (2) Excludes $ 2,665 of stock-based compensation reported in restructuring and other expense, net in our consolidated statement of earnings for the three months ended November 30, 2024 related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO effective, November 1, 2024. Total assets for each of our reportable segments at the dates indicated were as follows: November 30, May 31, 2024 2024 Consumer Products $ 574,568 $ 557,826 Building Products 764,911 672,723 Total reportable segments 1,339,479 1,230,549 Unallocated Corporate and Other 317,538 408,088 Total assets of continuing operations $ 1,657,017 $ 1,638,637

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Nov. 30, 2024
Business Combinations [Abstract]
Acquisitions	Note N – Acquisitions On June 3, 2024, we acquired Ragasco, a leading global manufacturer of composite propane cylinders based in Norway. The total purchase price, after adjustment for final working capital, consisted of cash consideration of $ 101,424 , of which $ 11,343 was on deposit at May 31, 2024, and contingent consideration in the form of an earnout agreement with an estimated acquisition date fair value of $ 7,139 . The earnout agreement provides for additional cash consideration of up to $ 14,000 should certain earnings targets be met through calendar year 2024. Ragasco operates as part of the Building Products operating segment and its results have been included in our consolidated statements 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 from 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. 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 is not expected to be deductible 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 Ragasco, we identified and valued the following intangible assets: Useful Life Category Amount (Years) Trade name $ 4,379 10 Technological know-how 14,659 10 Customer relationships 12,660 15 Total acquired identifiable intangible assets $ 31,698 The following table summarizes the consideration paid and the final fair value assigned to the assets and liabilities assumed at the acquisition date. Measurement Preliminary Period Final Valuation Adjustments Valuation Cash and cash equivalents $ 1,925 $ - $ 1,925 Accounts receivable 8,554 - 8,554 Inventory 16,403 - 16,403 Other current assets 990 - 990 Property, plant and equipment 27,325 - 27,325 Operating lease assets 8,834 - 8,834 Deferred income taxes 365 - 365 Intangible assets 32,840 ( 1,142 ) 31,698 Total identifiable assets 97,236 ( 1,142 ) 96,094 Accounts payable ( 4,885 ) - ( 4,885 ) Current operating lease liability ( 980 ) - ( 980 ) Accrued expenses ( 6,344 ) - ( 6,344 ) Noncurrent operating lease liability ( 7,886 ) - ( 7,886 ) Deferred income taxes ( 9,226 ) 251 ( 8,975 ) Other liabilities ( 100 ) - ( 100 ) Net identifiable assets 67,815 ( 891 ) 66,924 Goodwill 40,748 891 41,639 Total purchase price 108,563 - 108,563 Less: Fair value of earnout 7,139 - 7,139 Cash purchase price $ 101,424 $ - $ 101,424

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
Derivative Financial Instruments and Hedging Activities	Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note O – Derivative Financial Instruments and Hedging Activities We primarily utilize derivative financial instruments to 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 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 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 foreign currency exchange rate fluctuations. The translation of foreign currencies into U.S. dollars also subjects us to exposure related to fluctuating foreign 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 risk of loss is remote and, in any event, would not be material. Refer to “Note P – Fair Value Measurements ” for additional information regarding the accounting treatment for our derivative financial instruments, as well as how fair value is determined. The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at November 30, 2024 and May 31, 2024: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet November 30, May 31, Sheet November 30, May 31, Location 2024 2024 Location 2024 2024 Derivatives designated as hedging instruments: Commodity contracts Receivables $ 762 $ 601 Accounts payable $ 44 $ 83 Commodity contracts Other assets 41 - Other liabilities - 21 Subtotal 803 601 44 104 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 74 $ 319 Accounts payable $ 45 $ 69 Foreign currency exchange contracts Receivables - - Accounts payable 689 1,248 Subtotal 74 319 734 1,317 Total derivative financial instruments $ 877 $ 920 $ 778 $ 1,421 The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis where allowed 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 $ 616 an d $ 391 at November 30, 2024 and May 31, 2024, respectively. Cash Flow Hedges We enter into derivative financial instruments to hedge our exposure to changes in cash flows attributable to interest rate and commodity price fluctuations associated with certain forecasted transactions. These derivative financial instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on each of these derivative financial instruments is reported as a component of OCI and reclassified into earnings in the same line associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The following table summarizes our cash flow hedges outstanding at November 30, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 11,597 December 2024 - December 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: Location of Gain (Loss) Gain (Loss) Gain (Loss) Reclassified Recognized Reclassified from AOCI from AOCI in OCI into Net Earnings into Net Earnings For the three months ended November 30, 2024: Commodity contracts $ ( 360 ) Cost of goods sold $ ( 357 ) Interest rate contracts - Interest expense, net 51 Total $ ( 360 ) $ ( 306 ) For the three months ended November 30, 2023: Commodity contracts $ 2,019 Cost of goods sold $ ( 1,583 ) Interest rate contracts - Interest expense 52 Foreign currency exchange contracts ( 34 ) Miscellaneous income, net ( 97 ) Total $ 1,985 $ ( 1,628 ) For the six months ended November 30, 2024: Commodity contracts $ ( 758 ) Cost of goods sold $ ( 742 ) Interest rate contracts - Interest expense 103 Total $ ( 758 ) $ ( 639 ) For the six months ended November 30, 2023: Commodity contracts $ 1,608 Cost of goods sold $ ( 2,252 ) Interest rate contracts - Loss on extinguishment of debt ( 641 ) Interest rate contracts - Interest expense 83 Foreign currency exchange contracts ( 11 ) Miscellaneous income, net ( 44 ) Total $ 1,597 $ ( 2,854 ) The estimated amount of net gains recognized in AOCI at November 30, 2024, expected to be reclassified into net earnings within the succeeding 12 months is $ 380 (net of tax of $ 157 ) . This amount was computed using the fair value of the cash flow hedges at November 30, 2024, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2025 and May 31, 2026. Net Investment Hedges We have designated our Euro-denominated debt held in the U.S. with an initial notional amount of € 91,700 ($ 99,479 ) as a non-derivative net investment hedge of our foreign operations in Portugal. Accordingly, the foreign currency effects resulting from the remeasurement of this debt have been deferred in AOCI as an offset to the translation of our net investment in Portugal. A remeasurement gain of $ 4,329 and $ 2,494 was deferred in AOCI during the three months and six months ended November 30, 2024 . There was no foreign currency gain (loss) recognized in AOCI for the non-derivative instruments designated as net investment hedges in the prior year. Economic (Non-designated) Hedges We enter into foreign currency exchange contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative financial instruments are adjusted to current market value at the end of each period through gain (loss) recognized in earnings. The following table summarizes our economic (non-designated) derivative financial instruments outstanding at November 30, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 982 December 2024 - October 2025 Foreign currency exchange contracts $ 64,712 December 2024 - January 2025 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized in Earnings Three Months Ended Location of Gain (Loss) November 30, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 398 $ 571 Foreign currency exchange contracts Miscellaneous income, net ( 489 ) - Total $ ( 91 ) $ 571 Gain Recognized in Earnings Six Months Ended Location of Gain November 30, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 371 $ 1,414 Foreign currency exchange contracts Miscellaneous income, net 558 - Total $ 929 $ 1,414

Fair Value

Fair Value	6 Months Ended
Fair Value	Nov. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value	Note P – Fair Value Measurements 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 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability and that are significant to the fair value of the assets and liabilities (i.e., allowing for situations in which there is little or no market activity for the asset or liability at the measurement date). Recurring Fair Value Measurements At November 30, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 877 $ - $ 877 Total assets $ - $ 877 $ - $ 877 Liabilities (1) Derivative financial instruments $ - $ 778 $ - $ 778 Total liabilities $ - $ 778 $ - $ 778 At May 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 920 $ - $ 920 Total assets $ - $ 920 $ - $ 920 Liabilities (1) Derivative financial instruments $ - $ 1,421 $ - $ 1,421 Total liabilities $ - $ 1,421 $ - $ 1,421 —————————————————— (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 O – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments. Non-Recurring Fair Value Measurements At November 30, 2024, there were no assets measured at fair value on a non-recurring basis on our consolidated balance sheet. At May 31, 2024, our assets measured at fair value on a non-recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets Investment in note receivable (1) $ - $ 5,000 $ - $ 5,000 Investment in unconsolidated affiliate (2) - - 31,367 31,367 Total assets $ - $ 5,000 $ 31,367 $ 36,367 —————————————————— (1) Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. (2) On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 . The fair value of non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, income taxes receivable, other assets, accounts payable, accrued compensation, contributions to employee benefit plans and related taxes, other accrued items, income taxes payable and other liabilities approximate carrying value due to their short-term nature. The fair value of long-term debt, including current maturities, based upon models utilizing market observable (Level 2) inputs and credit risk, was $ 265,577 an d $ 257,866 at November 30, 2024 and May 31, 2024, respectively. The carrying amount of long-term debt, including current maturities, was $ 295,721 and $ 298,133 at November 30, 2024 and May 31, 2024 , respectively.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
Discontinued Operations (Tables)	Nov. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Results from Discontinued Operations	The following table summarizes the financial results from the discontinued operations of Worthington Steel for the periods presented. Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Net sales $ 788,689 $ 1,670,027 Cost of goods sold 728,252 1,481,731 Gross profit 60,437 188,296 Selling, general and administrative expense 37,106 74,909 Impairment of long-lived assets - 1,401 Separation costs 14,895 18,521 Operating income 8,436 93,465 Other income (expense): Miscellaneous income, net 305 1,017 Interest expense, net ( 1,697 ) ( 3,706 ) Equity in net income of unconsolidated affiliate 3,778 12,735 Earnings before income taxes 10,822 103,511 Income tax expense 589 20,405 Net earnings 10,233 83,106 Net earnings attributable to noncontrolling interest 3,865 7,461 Net earnings attributable to controlling interest $ 6,368 $ 75,645 The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statement of cash flows for the periods presented. Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Significant non-cash operating items: Depreciation and amortization $ 15,793 $ 32,043 Impairment of long-lived assets - 1,401 Equity in income of unconsolidated affiliate, net of distributions ( 3,777 ) ( 12,734 ) Stock-based compensation 2,315 3,472 Significant investing activities: Investment in property, plant and equipment ( 13,682 ) ( 33,457 ) Acquisitions, net of cash acquired ( 21,013 ) ( 21,013 ) Significant financing activities: Net proceeds from short-term borrowings 175,000 172,187

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
Investments in Unconsolidated Affiliates (Tables)	Nov. 30, 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: November 30, May 31, 2024 2024 Cash and cash equivalents $ 51,240 $ 36,163 Other current assets 547,436 605,043 Noncurrent assets 372,466 360,261 Total assets $ 971,142 $ 1,001,467 Current liabilities 212,806 264,963 Current maturities of long-term debt 3,208 13,450 Long-term debt 356,539 349,431 Other noncurrent liabilities 143,774 146,984 Equity 254,815 226,639 Total liabilities and equity $ 971,142 $ 1,001,467 Three Months Ended Six Months Ended November 30, November 30, 2024 2023 2024 2023 Net sales $ 492,990 $ 513,470 $ 1,008,663 $ 1,082,053 Gross profit 136,693 148,298 271,028 321,315 Operating income 90,847 118,958 185,193 250,405 Depreciation and amortization 7,725 7,224 15,731 14,800 Interest expense 4,529 4,538 9,287 10,277 Income tax expense 309 442 954 1,351 Net earnings 89,186 115,114 179,868 240,766

Restructuring and Other Expen_2

Restructuring and Other Expense, Net (Tables)	6 Months Ended
Restructuring and Other Expense, Net (Tables)	Nov. 30, 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 expense, net financial statement caption in our consolidated statement of earnings for the six months ended November 30, 2024 is summarized below: Balance at Balance at May 31, 2024 Expense Payments November 30, 2024 Early retirement and severance $ 188 $ 1,017 $ ( 1,068 ) $ 137 Net loss on sale of assets 96 Stock-based compensation (1) 2,665 Restructuring and other expense, net $ 3,778 (1) Represents non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO, effective November 1, 2024.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Other Comprehensive Income (Loss) (Tables)	Nov. 30, 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 November 30, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 2,902 ) $ ( 374 ) $ ( 3,276 ) $ 843 $ 54 $ 897 Pension liability adjustment 16 ( 3 ) 13 - - - Cash flow hedges ( 54 ) ( 3 ) ( 57 ) 17,390 ( 3,841 ) 13,549 Other comprehensive income (loss) $ ( 2,940 ) $ ( 380 ) $ ( 3,320 ) $ 18,233 $ ( 3,787 ) $ 14,446 Six Months Ended November 30, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 2,914 ) $ 179 $ ( 2,735 ) $ 2,170 $ 172 $ 2,342 Pension liability adjustment 9 ( 3 ) 6 - ( 3 ) ( 3 ) Cash flow hedges ( 119 ) 12 ( 107 ) 8,578 ( 1,879 ) 6,699 Other comprehensive income (loss) $ ( 3,024 ) $ 188 $ ( 2,836 ) $ 10,748 $ ( 1,710 ) $ 9,038

Changes in Equity (Tables)

Changes in Equity (Tables)	6 Months Ended
Changes in Equity (Tables)	Nov. 30, 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 Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2024 $ 299,033 $ 454 $ 589,392 $ 888,879 $ 2,133 $ 891,012 Net earnings (loss) - - 24,253 24,253 ( 245 ) 24,008 Other comprehensive income - 484 - 484 - 484 Common shares issued, net of withholding tax ( 3,158 ) - - ( 3,158 ) - ( 3,158 ) Common shares in non-qualified plans 32 - - 32 - 32 Stock-based compensation 6,216 - - 6,216 - 6,216 Purchases and retirement of common shares ( 884 ) - ( 5,919 ) ( 6,803 ) - ( 6,803 ) Cash dividends declared - - ( 8,550 ) ( 8,550 ) - ( 8,550 ) Balance at August 31, 2024 $ 301,239 $ 938 $ 599,176 $ 901,353 $ 1,888 $ 903,241 Net earnings (loss) - - 28,260 28,260 ( 251 ) 28,009 Other comprehensive loss - ( 3,320 ) - ( 3,320 ) - ( 3,320 ) Common shares issued, net of withholding tax ( 3,893 ) - - ( 3,893 ) - ( 3,893 ) Common shares in non-qualified plans 56 - - 56 - 56 Stock-based compensation 5,539 - - 5,539 - 5,539 Purchases and retirement of common shares ( 1,212 ) - ( 6,867 ) ( 8,079 ) - ( 8,079 ) Cash dividends declared - - ( 8,595 ) ( 8,595 ) - ( 8,595 ) Balance at November 30, 2024 $ 301,729 $ ( 2,382 ) $ 611,974 $ 911,321 $ 1,637 $ 912,958 Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling 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 ) Balance at November 30, 2023 $ 290,293 $ ( 14,141 ) $ 1,516,657 $ 1,792,809 $ 131,158 $ 1,923,967
Summary of Changes in AOCI	The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2024 $ ( 669 ) $ ( 441 ) $ 1,564 $ 454 OCI before reclassifications ( 2,914 ) 9 ( 758 ) ( 3,663 ) Reclassification adjustments to net earnings (1) - - 639 639 Income tax effect 179 ( 3 ) 12 188 Balance at November 30, 2024 $ ( 3,404 ) $ ( 435 ) $ 1,457 $ ( 2,382 ) Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) OCI before reclassifications 2,170 - 12,947 15,117 Reclassification adjustments to net earnings (1) - - ( 4,369 ) ( 4,369 ) Income tax effect 172 ( 3 ) ( 1,879 ) ( 1,710 ) Balance at November 30, 2023 $ ( 19,781 ) $ ( 1,733 ) $ 7,373 $ ( 14,141 ) —————————————————— (1) The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .”

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Nov. 30, 2024
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 six months ended November 30, 2024 was based on the following assumptions: Dividend yield 1.34 % Expected volatility 36.90 % Risk-free interest rate 3.97 % Expected term (years) 6.0 Due to the impact of the Separation on the comparability to the historical prices of the common shares, we are unable to use the historical volatility of the common shares to determine the expected volatility. Accordingly, we use a comparable peer group to determine the expected volatility of the common shares. 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.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Nov. 30, 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 Six Months Ended November 30, November 30, 2024 2023 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations attributable to controlling interest $ 28,260 $ 17,934 $ 52,513 $ 44,764 Denominator (shares in thousands): Basic EPS from continuing operations - weighted average common shares 49,464 49,186 49,475 49,013 Effect of dilutive securities 674 856 789 1,089 Diluted EPS from continuing operations - weighted average common shares 50,138 50,042 50,264 50,102 Basic EPS from continuing operations $ 0.57 $ 0.36 $ 1.06 $ 0.91 Diluted EPS from continuing operations $ 0.56 $ 0.36 $ 1.04 $ 0.89

Segment Operations (Tables)

Segment Operations (Tables)	6 Months Ended
Segment Operations (Tables)	Nov. 30, 2024
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following tables present summarized financial information for our reportable segments and Unallocated Corporate and Other for the periods indicated. A reconciliation from the GAAP financial measure of earnings before income taxes to the non-GAAP financial measure of adjusted EBITDA from continuing operations is provided directly following the summarized information below. Three Months Ended November 30, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 116,748 $ 157,298 $ 274,046 $ - $ 274,046 Capital expenditures 5,789 4,348 10,137 5,024 15,161 Depreciation and amortization 4,296 6,496 10,792 1,135 11,927 Restructuring and other expense, net - 514 514 2,106 2,620 Equity income - 34,294 34,294 262 34,556 Adjusted EBITDA from continuing operations 15,484 47,185 62,669 ( 6,456 ) 56,213 Three Months Ended November 30, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 119,389 $ 151,303 $ 270,692 $ 27,537 $ 298,229 Capital expenditures 4,194 6,987 11,181 21,695 32,876 Depreciation and amortization 4,112 5,927 10,039 2,176 12,215 Restructuring and other expense, net - 6 6 - 6 Separation costs - - - 7,056 7,056 Equity income - 35,176 35,176 3,492 38,668 Adjusted EBITDA from continuing operations 12,674 45,809 58,483 ( 3,439 ) 55,044 Six Months Ended November 30, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 234,343 $ 297,011 $ 531,354 $ - $ 531,354 Capital expenditures 10,733 8,057 18,790 6,000 24,790 Depreciation and amortization 8,595 12,867 21,462 2,295 23,757 Restructuring and other expense, net - 803 803 2,975 3,778 Equity income - 70,940 70,940 ( 892 ) 70,048 Adjusted EBITDA from continuing operations 33,259 86,914 120,173 ( 15,524 ) 104,649 Six Months Ended November 30, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 236,742 $ 317,231 $ 553,973 $ 56,174 $ 610,147 Capital expenditures 5,727 12,257 17,984 44,190 62,174 Depreciation and amortization 8,104 11,925 20,029 4,261 24,290 Restructuring and other expense, net - 6 6 - 6 Separation costs - - - 9,466 9,466 Equity income - 80,219 80,219 3,873 84,092 Adjusted EBITDA from continuing operations 26,889 105,442 132,331 ( 11,373 ) 120,958 Total assets for each of our reportable segments at the dates indicated were as follows: November 30, May 31, 2024 2024 Consumer Products $ 574,568 $ 557,826 Building Products 764,911 672,723 Total reportable segments 1,339,479 1,230,549 Unallocated Corporate and Other 317,538 408,088 Total assets of continuing operations $ 1,657,017 $ 1,638,637
Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations	Three Months Ended Six Months Ended November 30, November 30, 2024 2023 2024 2023 Earnings before income taxes $ 37,109 $ 24,543 $ 67,899 $ 60,333 Plus: Net loss attributable to noncontrolling interest 251 - 496 - Net earnings before income taxes attributable to controlling interest 37,360 24,543 68,395 60,333 Interest expense, net 1,033 472 1,522 1,546 EBIT (1) 38,393 25,015 69,917 61,879 Corporate costs eliminated at Separation - 9,671 - 19,343 Restructuring and other expense, net 2,620 6 3,778 6 Separation costs - 7,056 - 9,466 Loss on extinguishment of debt - - - 1,534 Gain on sale of assets in equity income - ( 2,780 ) - ( 2,780 ) Adjusted EBIT (1) 41,013 38,968 73,695 89,448 Depreciation and amortization 11,927 12,215 23,757 24,290 Stock-based compensation (2) 3,273 3,861 7,197 7,220 Adjusted EBITDA from continuing operations $ 56,213 $ 55,044 $ 104,649 $ 120,958 (1) EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance. (2) Excludes $ 2,665 of stock-based compensation reported in restructuring and other expense, net in our consolidated statement of earnings for the three months ended November 30, 2024 related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO effective, November 1, 2024.

Acquisitions (Tables)

Acquisitions (Tables) - Ragasco	6 Months Ended
Acquisitions (Tables) - Ragasco	Nov. 30, 2024
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of Ragasco, we identified and valued the following intangible assets: Useful Life Category Amount (Years) Trade name $ 4,379 10 Technological know-how 14,659 10 Customer relationships 12,660 15 Total acquired identifiable intangible assets $ 31,698
Schedule of Consideration Transferred for the Assets and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed	Measurement Preliminary Period Final Valuation Adjustments Valuation Cash and cash equivalents $ 1,925 $ - $ 1,925 Accounts receivable 8,554 - 8,554 Inventory 16,403 - 16,403 Other current assets 990 - 990 Property, plant and equipment 27,325 - 27,325 Operating lease assets 8,834 - 8,834 Deferred income taxes 365 - 365 Intangible assets 32,840 ( 1,142 ) 31,698 Total identifiable assets 97,236 ( 1,142 ) 96,094 Accounts payable ( 4,885 ) - ( 4,885 ) Current operating lease liability ( 980 ) - ( 980 ) Accrued expenses ( 6,344 ) - ( 6,344 ) Noncurrent operating lease liability ( 7,886 ) - ( 7,886 ) Deferred income taxes ( 9,226 ) 251 ( 8,975 ) Other liabilities ( 100 ) - ( 100 ) Net identifiable assets 67,815 ( 891 ) 66,924 Goodwill 40,748 891 41,639 Total purchase price 108,563 - 108,563 Less: Fair value of earnout 7,139 - 7,139 Cash purchase price $ 101,424 $ - $ 101,424

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Nov. 30, 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 November 30, 2024 and May 31, 2024: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet November 30, May 31, Sheet November 30, May 31, Location 2024 2024 Location 2024 2024 Derivatives designated as hedging instruments: Commodity contracts Receivables $ 762 $ 601 Accounts payable $ 44 $ 83 Commodity contracts Other assets 41 - Other liabilities - 21 Subtotal 803 601 44 104 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 74 $ 319 Accounts payable $ 45 $ 69 Foreign currency exchange contracts Receivables - - Accounts payable 689 1,248 Subtotal 74 319 734 1,317 Total derivative financial instruments $ 877 $ 920 $ 778 $ 1,421
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative financial instruments outstanding at November 30, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 982 December 2024 - October 2025 Foreign currency exchange contracts $ 64,712 December 2024 - January 2025
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized in Earnings Three Months Ended Location of Gain (Loss) November 30, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 398 $ 571 Foreign currency exchange contracts Miscellaneous income, net ( 489 ) - Total $ ( 91 ) $ 571 Gain Recognized in Earnings Six Months Ended Location of Gain November 30, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 371 $ 1,414 Foreign currency exchange contracts Miscellaneous income, net 558 - Total $ 929 $ 1,414
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at November 30, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 11,597 December 2024 - December 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: Location of Gain (Loss) Gain (Loss) Gain (Loss) Reclassified Recognized Reclassified from AOCI from AOCI in OCI into Net Earnings into Net Earnings For the three months ended November 30, 2024: Commodity contracts $ ( 360 ) Cost of goods sold $ ( 357 ) Interest rate contracts - Interest expense, net 51 Total $ ( 360 ) $ ( 306 ) For the three months ended November 30, 2023: Commodity contracts $ 2,019 Cost of goods sold $ ( 1,583 ) Interest rate contracts - Interest expense 52 Foreign currency exchange contracts ( 34 ) Miscellaneous income, net ( 97 ) Total $ 1,985 $ ( 1,628 ) For the six months ended November 30, 2024: Commodity contracts $ ( 758 ) Cost of goods sold $ ( 742 ) Interest rate contracts - Interest expense 103 Total $ ( 758 ) $ ( 639 ) For the six months ended November 30, 2023: Commodity contracts $ 1,608 Cost of goods sold $ ( 2,252 ) Interest rate contracts - Loss on extinguishment of debt ( 641 ) Interest rate contracts - Interest expense 83 Foreign currency exchange contracts ( 11 ) Miscellaneous income, net ( 44 ) Total $ 1,597 $ ( 2,854 )

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
Fair Value (Tables)	Nov. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At November 30, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 877 $ - $ 877 Total assets $ - $ 877 $ - $ 877 Liabilities (1) Derivative financial instruments $ - $ 778 $ - $ 778 Total liabilities $ - $ 778 $ - $ 778 At May 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 920 $ - $ 920 Total assets $ - $ 920 $ - $ 920 Liabilities (1) Derivative financial instruments $ - $ 1,421 $ - $ 1,421 Total liabilities $ - $ 1,421 $ - $ 1,421 —————————————————— (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 O – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments.
Assets Measured at Fair Value on Non-Recurring Basis	At May 31, 2024, our assets measured at fair value on a non-recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets Investment in note receivable (1) $ - $ 5,000 $ - $ 5,000 Investment in unconsolidated affiliate (2) - - 31,367 31,367 Total assets $ - $ 5,000 $ 31,367 $ 36,367 —————————————————— (1) Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. (2) On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 .

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 30, 2024	Nov. 30, 2024	May 31, 2024	Feb. 01, 2024
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 2,553	$ 2,553	$ 343
Halo
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company				80%
Worthington Steel \| Long-term Steel Supply Agreement
Significant Accounting Policies [Line Items]
Purchases	23,024	51,455
Payable	$ 5,977	$ 5,977

Discontinued Operations - Summa

Discontinued Operations - Summary of Financial Results from Discontinued Operations of Worthington Steel (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 30, 2023	Nov. 30, 2023
Other income (expense):
Net earnings attributable to noncontrolling interest	$ 10,233	$ 83,106
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	788,689	1,670,027
Cost of goods sold	728,252	1,481,731
Gross profit	60,437	188,296
Selling, general and administrative expense	37,106	74,909
Impairment of long-lived assets		1,401
Separation costs	14,895	18,521
Operating income	8,436	93,465
Other income (expense):
Miscellaneous income, net	305	1,017
Interest expense, net	(1,697)	(3,706)
Equity in net income of unconsolidated affiliate	3,778	12,735
Earnings before income taxes	10,822	103,511
Income tax expense	589	20,405
Net earnings	10,233	83,106
Net earnings attributable to noncontrolling interest	3,865	7,461
Net earnings attributable to controlling interest	$ 6,368	$ 75,645

Discontinued Operations - Sum_2

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		6 Months Ended
		Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Significant non-cash operating items:
Equity in income of unconsolidated affiliate, net of distributions		$ (4,268)	$ 4,129	$ (7,721)	$ (6,096)
Stock-based compensation		5,937	6,175	9,862	10,691
Significant investing activities:
Investment in property, plant and equipment		(15,161)	(32,876)	(24,790)	(62,174)
Acquisitions, net of cash acquired		$ 731	(21,013)	$ (88,156)	(21,013)
Significant financing activities:
Net proceeds from short-term borrowings	[1]		175,000		172,187
Discontinued Operations
Significant non-cash operating items:
Depreciation and amortization			15,793		32,043
Impairment of long-lived assets					1,401
Equity in income of unconsolidated affiliate, net of distributions			(3,777)		(12,734)
Stock-based compensation			2,315		3,472
Significant investing activities:
Investment in property, plant and equipment			(13,682)		(33,457)
Acquisitions, net of cash acquired			(21,013)		(21,013)
Significant financing activities:
Net proceeds from short-term borrowings			$ 175,000		$ 172,187

[1] Net proceeds in fiscal 2024 consisted of borrowings under Worthington Steel’s short-term credit facilities assumed by Worthington Steel in conjunction with the Separation.

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023	May 31, 2024
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates	$ 135,218,000		$ 135,218,000		$ 144,863,000
Excess dividends received from investing activity	$ 0	$ 1,085,000		$ 1,085,000
ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	25%		25%
Sustainable Energy Solutions
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	49%		49%
WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	50%		50%
Investments in unconsolidated affiliates	$ 110,763,000		$ 110,763,000		111,905,000
Excess dividends received from investing activity					$ 1,085,000
Workhorse
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	20%		20%
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Distributions from unconsolidated affiliates			$ 77,769,000

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2024	Nov. 30, 2023	May 31, 2024
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	$ 193,805				$ 193,805		$ 244,225
Total assets	1,657,017				1,657,017		1,638,637
Current liabilities	169,464				169,464		178,376
Long-term debt	295,721				295,721		298,133
Other non-current liabilities	60,305				60,305		62,243
Equity	911,321				911,321		888,879
Total liabilities and equity	1,657,017				1,657,017		1,638,637
Net sales	274,046		$ 298,229		531,354	$ 610,147
Gross profit	74,059		63,278		136,554	132,908
Net earnings	28,009	$ 24,008	28,167	$ 99,703	52,017	127,870
Equity Method Investment, Nonconsolidated Investee, Other
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	51,240				51,240		36,163
Other current assets	547,436				547,436		605,043
Noncurrent assets	372,466				372,466		360,261
Total assets	971,142				971,142		1,001,467
Current liabilities	212,806				212,806		264,963
Current maturities of long-term debt	3,208				3,208		13,450
Long-term debt	356,539				356,539		349,431
Other non-current liabilities	143,774				143,774		146,984
Equity	254,815				254,815		226,639
Total liabilities and equity	971,142				971,142		$ 1,001,467
Net sales	492,990		513,470		1,008,663	1,082,053
Gross profit	136,693		148,298		271,028	321,315
Operating income	90,847		118,958		185,193	250,405
Depreciation and amortization	7,725		7,224		15,731	14,800
Interest expense	4,529		4,538		9,287	10,277
Income tax expense	309		442		954	1,351
Net earnings	$ 89,186		$ 115,114		$ 179,868	$ 240,766

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Adjusted EBITDA from continuing operations	$ 37,109	$ 24,543	$ 67,899	$ 60,333

Restructuring and Other Expen_3

Restructuring and Other Expense, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023	Nov. 30, 2024		Nov. 30, 2023
Restructuring Cost and Reserve [Line Items]
Loss on sale of assets				$ 96
Stock-based compensation	$ 5,937		$ 6,175	9,862		$ 10,691
Restructuring and other expense, net	2,620	$ 3,778	$ 6	3,778		$ 6
Former CEO
Restructuring Cost and Reserve [Line Items]
Stock-based compensation	2,665			2,665	[1]
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance		$ 188		188
Expense				1,017
Payments				(1,068)
Ending Balance	$ 137			$ 137

[1] Represents non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO, effective November 1, 2024.

Restructuring and Other Expen_4

Restructuring and Other Expense, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Parenthetical) (Detail) $ in Thousands	6 Months Ended
	Nov. 30, 2024 USD ($)
Restructuring and Related Activities [Abstract]
Loss on deconsolidation of our former Sustainable Energy Solutions	$ 96

Guarantees - Additional Informa

Guarantees - Additional Information (Detail) - Stand-by Letters of Credit	6 Months Ended
	Nov. 30, 2024 USD ($)
Guarantor Obligations [Line Items]
Letter of credit amount outstanding	$ 9,500,000
Drawn amount of letter of credit outstanding	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	6 Months Ended
Debt - Additional Information (Detail) - USD ($)	Nov. 30, 2024	May 31, 2024
Debt And Receivables Securitization [Line Items]
Line of credit facility, description	Our multi-year revolving Credit Facility is scheduled to mature on September 27, 2028. 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 overnight bank funding rate, the prime rate of PNC Bank, National Association or the adjusted daily simple SOFR.
Borrowings outstanding	$ 0	$ 0
Multi-year Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maturity date	Sep. 27, 2028
Remaining borrowing capacity	$ 500,000,000
Multi-year Revolving Credit Facility \| Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period	1 year

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Summary of Tax Effects on Each Component of OCI (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2024	Nov. 30, 2023
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ (2,902)		$ 843		$ (2,914)	$ 2,170
Foreign currency translation, tax	(374)		54		179	172
Foreign currency translation, net of tax	(3,276)		897		(2,735)	2,342
Pension liability adjustment, before tax	16				9
Pension liability adjustment, tax	(3)				(3)	(3)
Pension liability adjustment, net of tax	13				6	(3)
Cash flow hedges, before tax	(54)		17,390		(119)	8,578
Cash flow hedges, tax	(3)		(3,841)		12	(1,879)
Cash flow hedges, net of tax	(57)		13,549		(107)	6,699
Other comprehensive income (loss), before tax	(2,940)		18,233		(3,024)	10,748
Other comprehensive income (loss), tax	(380)		(3,787)		188	(1,710)
Other comprehensive income (loss), net of tax	$ (3,320)	$ 484	$ 14,446	$ (5,408)	$ (2,836)	$ 9,038

Changes in Equity - Summary of

Changes in Equity - Summary of Changes in Equity by Component and in Total (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2024	Nov. 30, 2023
Balance	$ 903,241	$ 891,012	$ 1,901,916	$ 1,821,628	$ 891,012	$ 1,821,628
Net earnings (loss)	28,009	24,008	28,167	99,703	52,017	127,870
Other comprehensive income (loss), net of tax	(3,320)	484	14,446	(5,408)	(2,836)	9,038
Common shares issued, net of withholding tax	(3,893)	(3,158)	(9,207)	(5,130)
Common shares in non-qualified plans	56	32	195	130
Stock-based compensation	5,539	6,216	4,511	8,995
Purchases and retirement of common shares	(8,079)	(6,803)
Cash dividends declared	(8,595)	(8,550)	(16,061)	(16,081)
Dividends to noncontrolling interests				(1,921)
Balance	912,958	903,241	1,923,967	1,901,916	912,958	1,923,967
Additional Paid-in Capital
Balance	301,239	299,033	294,794	290,799	299,033	290,799
Common shares issued, net of withholding tax	(3,893)	(3,158)	(9,207)	(5,130)
Common shares in non-qualified plans	56	32	195	130
Stock-based compensation	5,539	6,216	4,511	8,995
Purchases and retirement of common shares	(1,212)	(884)
Balance	301,729	301,239	290,293	294,794	301,729	290,293
AOCI, Net of Tax
Balance	938	454	(28,587)	(23,179)	454	(23,179)
Other comprehensive income (loss), net of tax	(3,320)	484	14,446	(5,408)
Balance	(2,382)	938	(14,141)	(28,587)	(2,382)	(14,141)
Retained Earnings
Balance	599,176	589,392	1,508,416	1,428,391	589,392	1,428,391
Net earnings (loss)	28,260	24,253	24,302	96,106
Purchases and retirement of common shares	(6,867)	(5,919)
Cash dividends declared	(8,595)	(8,550)	(16,061)	(16,081)
Balance	611,974	599,176	1,516,657	1,508,416	611,974	1,516,657
Parent
Balance	901,353	888,879	1,774,623	1,696,011	888,879	1,696,011
Net earnings (loss)	28,260	24,253	24,302	96,106
Other comprehensive income (loss), net of tax	(3,320)	484	14,446	(5,408)
Common shares issued, net of withholding tax	(3,893)	(3,158)	(9,207)	(5,130)
Common shares in non-qualified plans	56	32	195	130
Stock-based compensation	5,539	6,216	4,511	8,995
Purchases and retirement of common shares	(8,079)	(6,803)
Cash dividends declared	(8,595)	(8,550)	(16,061)	(16,081)
Balance	911,321	901,353	1,792,809	1,774,623	911,321	1,792,809
Noncontrolling Interest
Balance	1,888	2,133	127,293	125,617	2,133	125,617
Net earnings (loss)	(251)	(245)	3,865	3,597
Dividends to noncontrolling interests				(1,921)
Balance	$ 1,637	$ 1,888	$ 131,158	$ 127,293	$ 1,637	$ 131,158

Changes in Equity - Summary o_2

Changes in Equity - Summary of Changes in AOCI (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 903,241	$ 1,901,916	$ 891,012	$ 1,821,628
Income tax effect		(380)	(3,787)	188	(1,710)
Balance		912,958	1,923,967	912,958	1,923,967
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(669)	(22,123)
OCI before reclassifications				(2,914)	2,170
Income tax effect				179	172
Balance		(3,404)	(19,781)	(3,404)	(19,781)
Pension Liability Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(441)	(1,730)
OCI before reclassifications				9
Income tax effect				(3)	(3)
Balance		(435)	(1,733)	(435)	(1,733)
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				1,564	674
OCI before reclassifications				(758)	12,947
Reclassification adjustments to net earnings	[1]			639	(4,369)
Income tax effect				12	(1,879)
Balance		1,457	7,373	1,457	7,373
AOCI
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		938	(28,587)	454	(23,179)
OCI before reclassifications				(3,663)	15,117
Reclassification adjustments to net earnings	[1]			639	(4,369)
Income tax effect				188	(1,710)
Balance		$ (2,382)	$ (14,141)	$ (2,382)	$ (14,141)

[1] The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .”

Equity (Additional Information)

Equity (Additional Information) (Details) - shares	6 Months Ended
Equity (Additional Information) (Details) - shares	Nov. 30, 2024	Mar. 24, 2021	Mar. 20, 2019
Equity [Abstract]
Share Repurchase Program, Authorized, Number of Shares		5,618,464	6,600,000
Share Repurchase Program, Remaining Authorized, Number of Shares	5,715,000	10,000,000
Shares repurchase program (in shares)	350,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail)	6 Months Ended
	Nov. 30, 2024 $ / shares
Weighted Average Exercise Price
Granted	$ 44.38

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock option, per share weighted average price			$ 44.38
Non-qualified stock option, weighted average fair value, per share price			$ 16.38
Pre-tax stock-based compensation expense	$ 5,937	$ 6,175	$ 9,862	$ 10,691
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted			54,200
Pre-tax stock-based compensation, period of recognition			3 years
Pre-tax stock-based compensation expense			$ 888
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	3 years
Pre-tax stock-based compensation expense			$ 13,011
Restricted common shares, granted			289,820
Restricted common shares, fair value per share			$ 44.89
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense			$ 1,868
Restricted common shares, granted			42,100
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	3 Months Ended
	Aug. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.34%
Expected volatility	36.90%
Risk-free interest rate	3.97%
Expected term (years)	6 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
Income Taxes - Additional Information (Detail)	Nov. 30, 2024	Nov. 30, 2023
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate	24.10%	25.70%

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Numerator (basic & diluted):
Net earnings from continuing operations attributable to controlling interest	$ 28,260	$ 17,934	$ 52,513	$ 44,764
Denominator (shares in thousands):
Basic EPS from continuing operations - weighted average common shares	49,464	49,186	49,475	49,013
Effect of dilutive securities	674	856	789	1,089
Diluted EPS from continuing operations - weighted average common shares	50,138	50,042	50,264	50,102
Basic EPS from continuing operations	$ 0.57	$ 0.36	$ 1.06	$ 0.91
Diluted EPS from continuing operations	$ 0.56	$ 0.36	$ 1.04	$ 0.89

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Earnings Per Share [Abstract]
Shares excluded from computation of diluted earnings per share	110,950	38,932	90,391	32,892

Segment Operations - Additional

Segment Operations - Additional Information (Detail)	6 Months Ended
Segment Operations - Additional Information (Detail)	Nov. 30, 2024 Segment
Segment Reporting Information [Line Items]
Number of operating segments	2
Sustainable Energy Solutions [Member]
Segment Reporting Information [Line Items]
Percent of ownership interest held in unconsolidated affiliates	49%

Segment Operations - Financial

Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023	May 31, 2024
Segment Reporting Information [Line Items]
Net sales	$ 274,046	$ 298,229	$ 531,354	$ 610,147
Capital expenditures	15,161	32,876	24,790	62,174
Depreciation and amortization	11,927	12,215	23,757	24,290
Restructuring and other expense, net	2,620	6	3,778	6
Separation costs		7,056		9,466
Miscellaneous income (expense), net	65	714	551	1,013
Loss on extinguishment of debt				1,534
Equity income	34,556	38,668	70,048	84,092
Adjusted EBITDA from continuing operations	37,109	24,543	67,899	60,333
Total assets of continuing operations	1,657,017		1,657,017		$ 1,638,637
Total assets of continuing operations	1,657,017		1,657,017		1,638,637
Unallocated Corporate and Other
Segment Reporting Information [Line Items]
Net sales		27,537		56,174
Capital expenditures	5,024	21,695	6,000	44,190
Depreciation and amortization	1,135	2,176	2,295	4,261
Restructuring and other expense, net	2,106		2,975
Separation costs		7,056		9,466
Equity income	262	3,492	(892)	3,873
Adjusted EBITDA from continuing operations	(6,456)	(3,439)	(15,524)	(11,373)
Total
Segment Reporting Information [Line Items]
Adjusted EBITDA from continuing operations	56,213	55,044	104,649	120,958
Total Reportable Segments
Segment Reporting Information [Line Items]
Net sales	274,046	270,692	531,354	553,973
Capital expenditures	10,137	11,181	18,790	17,984
Depreciation and amortization	10,792	10,039	21,462	20,029
Restructuring and other expense, net	514	6	803	6
Equity income	34,294	35,176	70,940	80,219
Adjusted EBITDA from continuing operations	62,669	58,483	120,173	132,331
Total assets of continuing operations	1,339,479		1,339,479		1,230,549
Total Reportable Segments \| Consumer products
Segment Reporting Information [Line Items]
Net sales	116,748	119,389	234,343	236,742
Capital expenditures	5,789	4,194	10,733	5,727
Depreciation and amortization	4,296	4,112	8,595	8,104
Adjusted EBITDA from continuing operations	15,484	12,674	33,259	26,889
Total assets of continuing operations	574,568		574,568		557,826
Total Reportable Segments \| Building Products
Segment Reporting Information [Line Items]
Net sales	157,298	151,303	297,011	317,231
Capital expenditures	4,348	6,987	8,057	12,257
Depreciation and amortization	6,496	5,927	12,867	11,925
Restructuring and other expense, net	514	6	803	6
Equity income	34,294	35,176	70,940	80,219
Adjusted EBITDA from continuing operations	47,185	$ 45,809	86,914	$ 105,442
Total assets of continuing operations	764,911		764,911		672,723
Unallocated Corporate and Other
Segment Reporting Information [Line Items]
Total assets of continuing operations	$ 317,538		$ 317,538		$ 408,088

Segment Operations - Reconcilia

Segment Operations - Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Segment Reporting [Abstract]
Earnings before income taxes		$ 37,109	$ 24,543	$ 67,899	$ 60,333
Plus: Net loss attributable to noncontrolling interest		251		496
Net earnings before income taxes attributable to controlling interest		37,360	24,543	68,395	60,333
Interest expense, net		1,033	472	1,522	1,546
EBIT	[1]	38,393	25,015	69,917	61,879
Corporate costs eliminated at Separation			9,671		19,343
Restructuring and other expense, net		2,620	6	3,778	6
Separation costs			7,056		9,466
Loss on extinguishment of debt					1,534
Gain on sale of assets in equity income			(2,780)		(2,780)
Adjusted EBIT	[1]	41,013	38,968	73,695	89,448
Depreciation and amortization		11,927	12,215	23,757	24,290
Stock-based compensation	[2]	3,273	3,861	7,197	7,220
Adjusted EBITDA from continuing operations		$ 56,213	$ 55,044	$ 104,649	$ 120,958

[1] EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance. Excludes $ 2,665 of stock-based compensation reported in restructuring and other expense, net in our consolidated statement of earnings for the three months ended November 30, 2024 related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO effective, November 1, 2024.

Segment Operations - Reconcil_2

Segment Operations - Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024		Nov. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Stock-based compensation	$ 5,937	$ 6,175	$ 9,862		$ 10,691
Former CEO
Segment Reporting, Revenue Reconciling Item [Line Items]
Stock-based compensation	$ 2,665		$ 2,665	[1]

[1] Represents non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO, effective November 1, 2024.

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Jun. 03, 2024	May 31, 2024
Business Acquisition [Line Items]
Earnout payment	$ 7,139
Ragasco
Business Acquisition [Line Items]
Total purchase price	108,563
Cash consideration for acquired entity	101,424
Earnout payment	7,139
Increase in purchase consideration	14,000
Potential earn out payment		$ 11,343
Ragasco \| Preliminary Valuation
Business Acquisition [Line Items]
Total purchase price	108,563
Cash consideration for acquired entity	101,424
Earnout payment	$ 7,139

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition of Identifiable Intangible Assets (Detail) - Ragasco $ in Thousands	Jun. 03, 2024 USD ($)
Business Acquisition [Line Items]
Total acquired identifiable intangible assets	$ 31,698
Acquired indefinite lived intangible assets	$ 31,698
Trade Name
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Acquired indefinite lived intangible assets	$ 4,379
Technological Know-How
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Acquired indefinite lived intangible assets	$ 14,659
Customer Relationships
Business Acquisition [Line Items]
Useful Life (Years)	15 years
Acquired indefinite lived intangible assets	$ 12,660

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	Jun. 03, 2024	Nov. 30, 2024	May 31, 2024
Business Acquisition [Line Items]
Goodwill		$ 369,799	$ 331,595
Less: Fair value of earnout	$ 7,139
Ragasco
Business Acquisition [Line Items]
Cash and cash equivalents	1,925
Accounts receivable	8,554
Inventory	16,403
Other current assets	990
Property, plant and equipment	27,325
Operating lease assets	8,834
Deferred income taxes	365
Intangible assets	31,698
Total identifiable assets	96,094
Accounts payable	(4,885)
Current operating lease liability	(980)
Accrued expenses	(6,344)
Noncurrent operating lease liability	(7,886)
Deferred income taxes	(8,975)
Other liabilities	(100)
Net identifiable assets	66,924
Goodwill	41,639
Total purchase price	108,563
Less: Fair value of earnout	7,139
Cash purchase price	101,424
Ragasco \| Preliminary Valuation
Business Acquisition [Line Items]
Cash and cash equivalents	1,925
Accounts receivable	8,554
Inventory	16,403
Other current assets	990
Property, plant and equipment	27,325
Operating lease assets	8,834
Deferred income taxes	365
Intangible assets	32,840
Total identifiable assets	97,236
Accounts payable	(4,885)
Current operating lease liability	(980)
Accrued expenses	(6,344)
Noncurrent operating lease liability	(7,886)
Deferred income taxes	(9,226)
Other liabilities	(100)
Net identifiable assets	67,815
Goodwill	40,748
Total purchase price	108,563
Less: Fair value of earnout	7,139
Cash purchase price	101,424
Ragasco \| Measurement Period Adjustments
Business Acquisition [Line Items]
Intangible assets	(1,142)
Total identifiable assets	(1,142)
Deferred income taxes	251
Net identifiable assets	(891)
Goodwill	$ 891

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Nov. 30, 2024	May 31, 2024
Derivative [Line Items]
Fair Value of Assets	$ 877	$ 920
Fair Value of Liabilities	778	1,421
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	803	601
Fair Value of Liabilities	44	104
Derivatives Designated As Hedging Instruments \| Commodity Contracts \| Receivables
Derivative [Line Items]
Fair Value of Assets	762	601
Derivatives Designated As Hedging Instruments \| Commodity Contracts \| Other Assets
Derivative [Line Items]
Fair Value of Assets	41
Derivatives Designated As Hedging Instruments \| Commodity Contracts \| Other Liabilities
Derivative [Line Items]
Fair Value of Liabilities		21
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	74	319
Fair Value of Liabilities	734	1,317
Derivatives Not Designated As Hedging Instruments \| Commodity Contracts \| Receivables
Derivative [Line Items]
Fair Value of Assets	74	319
Accounts Payable \| Derivatives Designated As Hedging Instruments \| Commodity Contracts
Derivative [Line Items]
Fair Value of Liabilities	44	83
Accounts Payable \| Derivatives Not Designated As Hedging Instruments \| Commodity Contracts
Derivative [Line Items]
Fair Value of Liabilities	45	69
Accounts Payable \| Derivatives Not Designated As Hedging Instruments \| Foreign Currency Exchange Contracts
Derivative [Line Items]
Fair Value of Liabilities	$ 689	$ 1,248

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Additional Information (Detail) € in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2024 USD ($)	Nov. 30, 2024 USD ($)	May 31, 2024 USD ($)	Nov. 30, 2024 EUR (€)
Derivative [Line Items]
Impact to fair value of derivative assets and liabilities as a result of recognition on a gross basis		$ 616,000	$ 391,000
Gains in accumulated other comprehensive income expected to be reclassified into net earnings		380,000
Gain in accumulated other comprehensive income expected to be reclassified into net earnings, tax		157,000
Non-derivative Designated As Hedging Instrument \| Foreign Currency Net Investment Hedge
Derivative [Line Items]
Outstanding principal amount	$ 99,479,000	99,479,000		€ 91,700
Foreign currency gain (loss) recognized	0	0
Derivative instrument remeasurement gain deferred In Aoci	$ 4,329,000	$ 2,494,000

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) $ in Thousands	6 Months Ended
	Nov. 30, 2024 USD ($)
Commodity Contracts \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 982
Commodity Contracts \| Minimum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Dec. 31, 2024
Commodity Contracts \| Maximum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Oct. 31, 2025
Foreign Currency Exchange Contracts \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 64,712
Foreign Currency Exchange Contracts \| Minimum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Dec. 31, 2024
Foreign Currency Exchange Contracts \| Maximum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Jan. 31, 2025
Cash Flow Hedges \| Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 11,597
Cash Flow Hedges \| Commodity Contracts \| Minimum
Derivative [Line Items]
Maturity Date(s)	Dec. 31, 2024
Cash Flow Hedges \| Commodity Contracts \| Maximum
Derivative [Line Items]
Maturity Date(s)	Dec. 31, 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		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (360)	$ 1,985	$ (758)	$ 1,597
Gain (Loss) Reclassified from AOCI into Net Earnings	$ (306)	$ (1,628)	$ (639)	$ (2,854)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (360)
Gain (Loss) Reclassified from AOCI into Net Earnings	(357)		$ (742)
Commodity Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		$ 2,019	(758)	$ 1,608
Gain (Loss) Reclassified from AOCI into Net Earnings		(1,583)		(2,252)
Interest Rate Contract
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 51		$ 103
Interest Rate Contract \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings		52		(641)
Interest Rate Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings				83
Foreign Currency Exchange Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		(34)		(11)
Gain (Loss) Reclassified from AOCI into Net Earnings		$ (97)		$ (44)

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024	Nov. 30, 2023
Derivative [Line Items]
Gain Recognized in Earnings	$ (91)	$ 571	$ 929	$ 1,414
Commodity Contracts \| Cost of Goods Sold \| Continuing Operations
Derivative [Line Items]
Gain Recognized in Earnings	398	$ 571	371	$ 1,414
Foreign Currency Exchange Contracts \| Miscellaneous Income, Net \| Continuing Operations
Derivative [Line Items]
Gain Recognized in Earnings	$ (489)		$ 558

Fair Value - Schedule of Assets

Fair Value - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Nov. 30, 2024	May 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	$ 877	$ 920
Liabilities	[1]	778	1,421
Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	877	1,421
Liabilities	[1]	778	920
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	877	920
Liabilities	[1]	778	1,421
Fair Value, Inputs, Level 2 \| Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	877	1,421
Liabilities	[1]	$ 778	$ 920

[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 O – 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, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 36,367
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	31,367
Investment In Note Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000	[1]
Investment In Note Receivable \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000	[1]
Investments In Unconsolidated Affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	31,367	[2]
Investments In Unconsolidated Affiliate \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 31,367	[2]

[1] Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 .

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail) - Sustainable Energy Solutions Joint Venture $ in Thousands	May 29, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of ownership interest held in unconsolidated affiliates	49%
Fair market value of assets	$ 31,367

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($) $ in Thousands	Nov. 30, 2024	May 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 265,577	$ 257,866
Long-term debt at carrying amount including current maturities	$ 295,721	$ 298,133