Worthington Industries (WOR) 10-Q 9 Apr 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Feb. 28, 2015	Mar. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	28-Feb-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON INDUSTRIES INC
Entity Central Index Key	108516
Current Fiscal Year End Date	-26
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		65,364,681

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Feb. 28, 2015	31-May-14
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$42,468	$190,079
Receivables, less allowances of $2,838 and $3,043 at February 28, 2015 and May 31, 2014, respectively	495,861	493,127
Inventories:
Raw materials	230,507	213,173
Work in process	135,759	105,872
Finished products	111,831	90,957
Total inventories	478,097	410,002
Income taxes receivable	8,440	5,438
Assets held for sale	24,560	32,235
Deferred income taxes	24,832	24,272
Prepaid expenses and other current assets	51,672	43,769
Total current assets	1,125,930	1,198,922
Investments in unconsolidated affiliates	195,788	179,113
Goodwill	240,738	251,093
Other intangible assets, net of accumulated amortization of $42,906 and $35,506 at February 28, 2015 and May 31, 2014, respectively	126,558	145,993
Other assets	20,697	22,399
Property, plant & equipment:
Land	16,148	15,260
Buildings and improvements	214,541	213,848
Machinery and equipment	866,928	848,889
Construction in progress	43,157	32,135
Total property, plant & equipment	1,140,774	1,110,132
Less: accumulated depreciation	629,084	611,271
Property, plant and equipment, net	511,690	498,861
Total assets	2,221,401	2,296,381
Current liabilities:
Accounts payable	386,408	333,744
Short-term borrowings	123,054	10,362
Accrued compensation, contributions to employee benefit plans and related taxes	67,273	78,514
Dividends payable	12,850	11,044
Other accrued items	58,627	49,873
Income taxes payable	2,920	4,953
Current maturities of long-term debt	835	101,173
Total current liabilities	651,967	589,663
Other liabilities	55,744	76,426
Distributions in excess of investment in unconsolidated affiliate	63,933	59,287
Long-term debt	575,968	554,790
Deferred income taxes	22,116	71,333
Total liabilities	1,369,728	1,351,499
Shareholders' equity - controlling interest	760,740	850,812
Noncontrolling interest	90,933	94,070
Total equity	851,673	944,882
Total liabilities and equity	$2,221,401	$2,296,381

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Feb. 28, 2015	31-May-14
In Thousands, unless otherwise specified
Receivables, allowances	$2,838	$3,043
Other intangible assets, accumulated amortization	$42,906	$35,506

CONSOLIDATED_STATEMENTS_OF_EAR

CONSOLIDATED STATEMENTS OF EARNINGS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Net sales	$804,785	$773,230	$2,538,211	$2,235,421
Cost of goods sold	706,294	650,743	2,184,990	1,873,738
Gross margin	98,491	122,487	353,221	361,683
Selling, general and administrative expense	66,764	75,680	219,327	225,615
Impairment of goodwill and long-lived assets	81,600		97,785	35,375
Restructuring and other expense (income)	2,093	1,398	2,491	-3,781
Joint venture transactions	84	120	274	1,048
Operating income (loss)	-52,050	45,289	33,344	103,426
Other income (expense):
Miscellaneous income	213	488	1,756	13,897
Interest expense	-8,381	-6,196	-27,573	-18,694
Equity in net income of unconsolidated affiliates	18,800	21,186	69,043	69,223
Earnings (loss) before income taxes	-41,418	60,767	76,570	167,852
Income tax expense (benefit)	-18,173	16,556	19,540	38,948
Net earnings (loss)	-23,245	44,211	57,030	128,904
Net earnings attributable to noncontrolling interest	2,465	3,608	9,110	10,767
Net earnings (loss) attributable to controlling interest	($25,710)	$40,603	$47,920	$118,137
Basic
Average common shares outstanding	66,359	68,895	67,013	69,268
Earnings (loss) per share attributable to controlling interest	($0.39)	$0.59	$0.72	$1.71
Diluted
Average common shares outstanding	66,359	71,528	69,301	71,910
Earnings (loss) per share attributable to controlling interest	($0.39)	$0.57	$0.69	$1.64
Common shares outstanding at end of period	65,078	68,302	65,078	68,302
Cash dividends declared per share	$0.18	$0.15	$0.54	$0.45

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Net earnings (loss)	($23,245)	$44,211	$57,030	$128,904
Other comprehensive income (loss):
Foreign currency translation	-14,873	3,043	-31,735	5,594
Pension liability adjustment, net of tax	-701	450	-701	450
Cash flow hedges, net of tax	-9,538	-94	-10,458	3,610
Other comprehensive income (loss)	-25,112	3,399	-42,894	9,654
Comprehensive income (loss)	-48,357	47,610	14,136	138,558
Comprehensive income attributable to noncontrolling interest	1,626	4,057	6,657	10,515
Comprehensive income (loss) attributable to controlling interest	($49,983)	$43,553	$7,479	$128,043

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Operating activities
Net earnings (loss)	($23,245)	$44,211	$57,030	$128,904
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	21,762	20,208	63,329	59,763
Impairment of long-lived assets	81,600		97,785	35,375
Provision for deferred income taxes	-35,334	1,278	-41,361	-20,256
Bad debt income	-46	-134	-106	-430
Equity in net income of unconsolidated affiliates, net of distributions	-571	1,048	-8,374	-8,373
Net loss (gain) on sale of assets and insurance	3,047	990	3,481	-10,860
Stock-based compensation	4,058	4,705	12,911	13,207
Excess tax benefits - stock-based compensation	-663	-1,462	-6,416	-7,294
Gain on previously held interest in TWB				-11,000
Changes in assets and liabilities, net of impact of acquisitions:
Receivables	5,078	-30,228	10,914	-14,999
Inventories	-8,795	-38,260	-43,925	-59,583
Prepaid expenses and other current assets	-3,078	2,429	-11,182	4,136
Other assets	2,415	-762	5,631	-187
Accounts payable and accrued expenses	40,260	91,485	10,055	108,185
Other liabilities	-3,612	1,316	-10,108	4,019
Net cash provided by operating activities	82,876	96,824	139,664	220,607
Investing activities
Investment in property, plant and equipment	-26,119	-21,743	-73,265	-52,157
Investment in notes receivable			-7,300
Acquisitions, net of cash acquired	-54,389	-35,599	-105,482	17,634
Distributions from (investments in) unconsolidated affiliates	-4,559		-8,230	9,223
Proceeds from sale of assets and insurance	3,521	580	3,813	24,313
Net cash used by investing activities	-81,546	-56,762	-190,464	-987
Financing activities
Net proceeds from (repayments of) short-term borrowings	112,285	-8,347	112,644	-78,624
Proceeds from long-term debt	5,916		26,396
Principal payments on long-term debt	-101,832	-286	-102,645	-855
Proceeds from (payments for) issuance of common shares	2,081	-1,241	1,627	5,246
Excess tax benefits - stock-based compensation	663	1,462	6,416	7,294
Payments to noncontrolling interest	-9,200	-36,512	-12,067	-39,150
Repurchase of common shares	-52,795	-40,762	-94,415	-91,078
Dividends paid	-12,517	-10,545	-34,767	-20,952
Net cash used by financing activities	-55,399	-96,231	-96,811	-218,119
Increase (decrease) in cash and cash equivalents	-54,069	-56,169	-147,611	1,501
Cash and cash equivalents at beginning of period	96,537	109,055	190,079	51,385
Cash and cash equivalents at end of period	$42,468	$52,886	$42,468	$52,886

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Feb. 28, 2015
Basis of Presentation	NOTE A – Basis of Presentation
	The consolidated financial statements include the accounts of Worthington Industries, Inc. and consolidated subsidiaries (collectively, “we,” “our,” “Worthington,” or the “Company”). Investments in unconsolidated affiliates are accounted for using the equity method. Significant intercompany accounts and transactions are eliminated.
	dHybrid Systems, LLC (“dHybrid”), Spartan Steel Coating, LLC (“Spartan”), TWB Company, L.L.C. (“TWB”), Worthington Arıtaş Basınçlı Kaplar Sanayi (“Worthington Aritas”), Worthington Energy Innovations, LLC (“WEI”), and Worthington Nitin Cylinders Limited (“Worthington Nitin Cylinders”) in which we own controlling interests of 79.59%, 52%, 55%, 75%, 75%, and 60%, respectively, are consolidated with the equity owned by the other joint venture members shown as noncontrolling interest in our consolidated balance sheets, and the other joint venture members’ portions of net earnings and other comprehensive income (loss) shown as net earnings or comprehensive income attributable to noncontrolling interest in our consolidated statements of earnings and consolidated statements of comprehensive income (loss), respectively.
	These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal and recurring nature, except those which have been disclosed elsewhere in this Quarterly Report on Form 10-Q, necessary for a fair presentation of the results of operations of these interim periods, have been included. Operating results for the three and nine months ended February 28, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2015 (“fiscal 2015”). For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended May 31, 2014 (“fiscal 2014”) of Worthington Industries, Inc. (the “2014 Form 10-K”).
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
	Recently Issued Accounting Standards
	In March 2013, amended accounting guidance was issued regarding the accounting for cumulative translation adjustment. The amended guidance specifies that a cumulative translation adjustment should be recorded to earnings when an entity ceases to have a controlling financial interest in a subsidiary or a group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of the cumulative translation adjustment attributable to the investment would be recognized in earnings upon sale of the investment. The amended guidance is effective prospectively for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2013. Early adoption is permitted. The adoption of this amended accounting guidance on June 1, 2014 did not have a material impact on our consolidated financial position or results of operations.
	In May 2014, amended accounting guidance was issued that replaces most existing revenue recognition guidance under U.S. GAAP. The amended guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The amended guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position and results of operations. The amended guidance permits the use of either the retrospective or cumulative effect transition method. We have not selected a transition method nor have we determined the effect of the amended guidance on our ongoing financial reporting.

Inventory

Inventory	9 Months Ended
	Feb. 28, 2015
Inventory	NOTE B – Inventory
	Due to the recent severe decline in steel pricing, the replacement cost of our inventory was lower than what was reflected in our records at February 28, 2015. Accordingly, we recorded a lower of cost or market adjustment during the third quarter of fiscal 2015 totaling $5,115,000 to reflect this lower value. The entire amount related to our Steel Processing operating segment and was recorded in cost of goods sold.

Investments_in_Unconsolidated_

Investments in Unconsolidated Affiliates	9 Months Ended
	Feb. 28, 2015
Investments in Unconsolidated Affiliates	NOTE C – Investments in Unconsolidated Affiliates
	Our investments in affiliated companies that we do not control, either through majority ownership or otherwise, are accounted for using the equity method. These include ArtiFlex Manufacturing, LLC (“ArtiFlex”) (50%), Clarkwestern Dietrich Building Systems LLC (“ClarkDietrich”) (25%), Samuel Steel Pickling Company (31.25%), Serviacero Planos, S. de R. L. de C.V. (“Serviacero”) (50%), Worthington Armstrong Venture (“WAVE”) (50%), Worthington Specialty Processing (“WSP”) (51%), and Zhejiang Nisshin Worthington Precision Specialty Steel Co., Ltd. (10%). WSP is considered to be jointly controlled and not consolidated due to substantive participating rights of the minority partner.
	We received distributions from unconsolidated affiliates totaling $61,239,000 during the nine months ended February 28, 2015. We have received cumulative distributions from WAVE in excess of our investment balance totaling $63,933,000 at February 28, 2015. In accordance with the applicable accounting guidance, these excess distributions are reclassified to the liabilities section of our consolidated balance sheet. 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 sheet. If it becomes obvious that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will recognize any balance classified as a liability as income immediately.
	We use the “cumulative earnings” approach for determining cash flow presentation of distributions from our unconsolidated joint ventures. Distributions received are included in our consolidated statements of cash flows as operating activities, unless the cumulative distributions exceed our portion of the cumulative equity in the net earnings of the joint venture, in which case the excess distributions are deemed to be returns of the investment and are classified as investing activities in our consolidated statements of cash flows. During the nine months ended February 28, 2015, we received excess distributions from ClarkDietrich of $570,000.
	Combined financial information for our unconsolidated affiliates is summarized as follows:
	(in thousands)		February 28,		May 31,
			2015		2014
	Cash		$	48,422	$	52,997
	Receivable from member (1)			10,865		12,717
	Other current assets			462,631		454,417
	Noncurrent assets			286,170		294,001
	Total assets		$	808,088	$	814,132
	Current liabilities		$	131,216	$	128,595
	Short-term borrowings			38,324		40,992
	Current maturities of long-term debt			4,480		4,510
	Long-term debt			264,982		268,350
	Other noncurrent liabilities			20,407		20,217
	Equity			348,679		351,468
	Total liabilities and equity		$	808,088	$	814,132
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(in thousands)		2015		2014		2015		2014
	Net sales		$	356,604	$	340,645	$	1,137,866	$	1,121,362
	Gross margin			67,636		73,217		232,580		239,098
	Operating income			41,335		48,752		154,678		164,824
	Depreciation and amortization			8,827		8,622		26,932		28,063
	Interest expense			2,157		2,494		6,492		6,950
	Income tax expense			2,555		2,937		8,107		8,829
	Net earnings			37,859		44,018		141,789		149,801
	-1	Represents cash owed from a joint venture member as a result of centralized cash management.
	The financial results of TWB have been included in the amounts presented in the tables above through July 31, 2013. On July 31, 2013, we completed the acquisition of an additional 10% interest in TWB. As a result, TWB’s results have been consolidated within Steel Processing since that date with the minority member’s portion of earnings eliminated within earnings attributable to noncontrolling interest.

Impairment_of_Goodwill_and_Lon

Impairment of Goodwill and Long-Lived Assets	9 Months Ended
	Feb. 28, 2015
Impairment of Goodwill and Long-Lived Assets	NOTE D – Impairment of Goodwill and Long-Lived Assets
	During the third quarter of fiscal 2015, the Company concluded that an interim impairment test of the goodwill of its Engineered Cabs reporting unit was necessary. This conclusion was based on certain indicators of impairment, including the decision to close the Company’s Engineered Cabs’ facility in Florence, South Carolina, and significant downward revisions to forecasted cash flows as a result of continued weakness in the mining and agricultural end markets and higher than expected manufacturing costs. The Company expects to incur approximately $3,000,000 of severance expense associated with the facility closure. This amount will be recognized as restructuring expense ratably over the future service period.
	Prior to conducting the goodwill impairment test, the Company first evaluated the other long-lived assets of the Engineered Cabs reporting unit for recoverability. Recoverability was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sums of the undiscounted future cash flows for the customer relationship intangible asset and the property, plant and equipment of the Florence facility were less than their respective carrying values. As a result, these assets were written down to their respective fair values, resulting in impairment charges of $22,356,000 for the customer relationship intangible asset and $14,311,000 for the property, plant and equipment of the Florence asset group during the third quarter of fiscal 2015.
	As noted above, the Company determined that indicators of potential impairment existed to require an interim goodwill analysis of the Engineered Cabs reporting unit. A comparison of the fair value of the Engineered Cabs reporting unit, determined using discounted cash flows, to its carrying value indicated that a step 2 calculation to quantify the potential impairment was required. After a subsequent review of the fair value of the net assets of Engineered Cabs, it was determined that the implied fair value of goodwill was $0 and as a result the entire $44,933,000 goodwill balance was written-off during the third quarter of fiscal 2015. The key assumptions that drive the fair value calculations are projected cash flows and the discount rate.
	During the second quarter of fiscal 2015, management committed to a plan to sell the assets of the Advanced Component Technologies, Inc. business within Engineered Cabs. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell, resulting in an impairment charge of $2,389,000. During the third quarter of fiscal 2015, the Company completed the sale of this business and recognized a gain of $313,000.
	During the second quarter of fiscal 2015, we determined that indicators of impairment were present at the Company’s aluminum high-pressure cylinder business in New Albany, Mississippi, due to current and projected operating losses. Recoverability of the identified asset group was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value, resulting in an impairment charge of $3,221,000.
	During the second quarter of fiscal 2015, we determined that indicators of impairment were present at the Company’s military construction business. Recoverability of the identified asset group was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value, resulting in an impairment charge of $1,179,000, which represents the remaining book value of the asset group.
	During the fourth quarter of fiscal 2014, management committed to a plan to sell the Company’s 60%-owned consolidated joint venture in India, Worthington Nitin Cylinders. As all of the criteria for classification as assets held for sale were met, the net assets of the business were presented separately as assets held for sale in our consolidated balance sheet as of May 31, 2014. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell as of May 31, 2014. As a result of changes in facts and circumstances related to the planned sale of Worthington Nitin Cylinders during the second quarter of fiscal 2015, the Company reassessed the fair value of the business and determined that the remaining book value should be written off resulting in an impairment charge of $6,346,000.
	During the fourth quarter of fiscal 2014, management committed to a plan to sell certain non-core Steel Processing assets. As all of the criteria for classification as assets held for sale were met, the net assets of the business have been presented separately as assets held for sale in our consolidated balance sheets as of February 28, 2015 and May 31, 2014. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell as of May 31, 2014. As a result of changes in facts and circumstances related to the planned sale, the Company reassessed the fair value of the business resulting in additional impairment charges totaling $3,050,000 during fiscal 2015.

Restructuring_and_Other_Expens

Restructuring and Other Expense	9 Months Ended
	Feb. 28, 2015
Restructuring and Other Expense	NOTE E – Restructuring and Other Expense
	In fiscal 2008, we initiated a Transformation Plan (the “Transformation Plan”) with the overall goal to improve our sustainable earnings potential, asset utilization and operational performance. The Transformation Plan focuses on cost reduction, margin expansion and organizational capability improvements and, in the process, seeks to drive excellence in three core competencies: sales; operations; and supply chain management. Most of the work is now being done by our internal teams. These internal teams are now an integral part of our business. The Transformation teams will continue to monitor performance metrics and new processes instituted across our transformed operations and drive continuous improvements in all areas of our operations. The expenses related to these teams have been included in selling, general and administrative (“SG&A”) expense since the beginning of fiscal 2013.
	To date, we have completed the transformation phases in each of the core facilities within our Steel Processing operating segment, including the facilities of our Mexican joint venture, Serviacero. We also substantially completed the transformation phases at our metal framing facilities prior to their contribution to ClarkDietrich. Transformation efforts within our Pressure Cylinders and Engineered Cabs operating segments, which began during the first quarter of fiscal 2012 and the first quarter of fiscal 2013, respectively, are ongoing.
	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense financial statement caption in our consolidated statement of earnings for the nine months ended February 28, 2015 is summarized as follows:
	(in thousands)	Beginning		Expense			Payments			Adjustments		Ending
		Balance										Balance
	Early retirement and severance	$	6,495	$	2,169		$	(5,313	)	$	46	$	3,397
	Facility exit and other costs		534		909			(1,203	)		79		319
		$	7,029		3,078		$	(6,516	)	$	125	$	3,716
	Gain on asset disposal				(313	)
	Less: joint venture transactions				(274	)
	Restructuring and other expense			$	2,491
	Severance expense in the current year consisted primarily of $2,291,000 recognized in connection with the recently announced workforce reductions in our oil and gas equipment business within Pressure Cylinders.
	Approximately $3,552,000 of the total liability as of February 28, 2015 is expected to be paid in the next twelve months. The remaining liability will be paid through September 2016.

Contingent_Liabilities

Contingent Liabilities	9 Months Ended
	Feb. 28, 2015
Contingent Liabilities	NOTE F – Contingent Liabilities
	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 believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations.
	Insurance Recoveries
	On August 19, 2013, a fire occurred at our Pressure Cylinders facility in Kienberg, Austria, in the building that houses the massing process in the production of acetylene cylinders. The other portions of the Austrian facility were not damaged; however, the massing process building sustained extensive damage and was rendered inoperable. Additionally, we have incurred incremental business interruption costs. The Company has business interruption and property damage insurance and, as a result, the fire did not have a material adverse impact on the Company’s consolidated financial results.
	During fiscal 2015, the Company received proceeds of $1,248,000 representing advance payments for the replacement value of damaged equipment. These proceeds were in excess of the $243,000 remaining book value of the assets, resulting in a gain of $1,005,000 within miscellaneous income.
	Total proceeds received related to insurance claims since the date of loss have been as follows:
	(in thousands)
	Property and equipment	$	6,892
	Business interruption		5,521
	Other expenses		1,001
	Total insurance proceeds	$	13,414
	The proceeds for business interruption relate to the loss of profits since the date of the fire and have been recorded as a reduction of manufacturing expense, including $2,653,000 during the nine months ended February 28, 2015. The proceeds for other expenses represent reimbursement for incremental expenses related to the fire and were recorded as an offset to manufacturing expense, including $256,000 during the nine months ended February 28, 2015. This claim was settled during the third quarter of fiscal 2015.

Guarantees

Guarantees	9 Months Ended
	Feb. 28, 2015
Guarantees	NOTE G – Guarantees
	We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. However, as of February 28, 2015, we were party to an operating lease for an aircraft in which we have guaranteed a residual value at the termination of the lease. The maximum obligation under the terms of this guarantee was approximately $12,036,000 at February 28, 2015. We have also guaranteed the repayment of a $2,083,000 term loan entered into by one of our unconsolidated affiliates, ArtiFlex. Based on current facts and circumstances, we have estimated the likelihood of payment pursuant to these guarantees, and determined that the fair value of our obligation under each guarantee based on those likely outcomes is not material and, therefore, no amounts have been recognized in our consolidated financial statements.

Debt_and_Receivables_Securitiz

Debt and Receivables Securitization	9 Months Ended
	Feb. 28, 2015
Debt and Receivables Securitization	NOTE H – Debt and Receivables Securitization
	On September 26, 2014, our consolidated joint venture in Turkey, Worthington Aritas, executed a $28,605,000 five-year term loan credit facility denominated in Euros. As of February 28, 2015, we had borrowed $23,432,000 against the facility, leaving $5,173,000 available for future borrowings. The facility bears interest at a variable rate based on EURIBOR. The applicable variable rate was 1.569% at February 28, 2015. On October 15, 2014, we entered into an interest rate swap to fix the interest rate on $17,131,000 of borrowings under this facility at 2.015% starting on December 26, 2014 through September 26, 2019. Borrowings against the facility will be used for the construction of a new cryogenics manufacturing facility in Turkey.
	We have a $425,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders that matures in May 2017. Borrowings under the Credit Facility have maturities of less than one year. However, we can extend the term of amounts borrowed by renewing these borrowings for the term of the Credit Facility. We have the option to borrow at rates equal to an applicable margin over the LIBOR, Prime or Fed Funds rates. The applicable margin is determined by our credit rating. The applicable interest rate at February 28, 2015 was 1.23%. Borrowings outstanding under the Credit Facility totaled $33,840,000 at February 28, 2015, leaving $391,160,000 available for future use. We are currently in the process of amending the Credit Facility, which we expect to be completed during the fourth quarter of fiscal 2015.
	We also maintain a $100,000,000 revolving trade accounts receivable securitization facility (the “AR Facility”). The AR Facility has been available throughout fiscal 2015 to date, and was available throughout fiscal 2014. During the third quarter of fiscal 2015, we extended the maturity under the AR Facility to January 2018. Pursuant to the terms of the AR Facility, certain of our subsidiaries sell their accounts receivable without recourse, on a revolving basis, to Worthington Receivables Corporation (“WRC”), a wholly-owned, consolidated, bankruptcy-remote subsidiary. In turn, WRC may sell without recourse, on a revolving basis, up to $100,000,000 of undivided ownership interests in this pool of accounts receivable to a multi-seller, asset-backed commercial paper conduit (the “Conduit”). Purchases by the Conduit are financed with the sale of A1/P1 commercial paper. We retain an undivided interest in this pool and are subject to risk of loss based on the collectability of the receivables from this retained interest. Because the amount eligible to be sold excludes receivables more than 90 days past due, receivables offset by an allowance for doubtful accounts due to bankruptcy or other cause, concentrations over certain limits with specific customers and certain reserve amounts, we believe additional risk of loss is minimal. The book value of the retained portion of the pool of accounts receivable approximates fair value. As of February 28, 2015, the pool of eligible accounts receivable exceeded the $100,000,000 limit, and $80,000,000 of undivided interests in this pool of accounts receivable had been sold.
	Short-term borrowings at February 28, 2015 also included $3,305,000 outstanding under a credit facility maintained by our consolidated affiliate, Worthington Aritas, that matures in May 2015 and bears interest at a fixed rate of 5.55%, and $5,909,000 outstanding under a $9,500,000 credit facility maintained by our consolidated affiliate, Worthington Nitin Cylinders, that matured in November 2014 and bears interest at a variable rate. The applicable variable rate was 9.05% at February 28, 2015. The borrowings outstanding under the Nitin credit facility are currently in default; however, the lender has not called the note.

Comprehensive_Income_Loss

Comprehensive Income (Loss)	9 Months Ended
	Feb. 28, 2015
Comprehensive Income (Loss)	NOTE I – Comprehensive Income (Loss)
	The following table summarizes the tax effects on each component of other comprehensive income (loss) for the three months ended February 28, 2015 and 2014:
		2015								2014
		Before-Tax			Tax Benefit		Net-of-Tax			Before-Tax			Tax Expense			Net-of-Tax
		Amount					Amount			Amount						Amount
	(in thousands)
	Foreign currency translation		(14,873	)	$	-	$	(14,873	)	$	3,043			-		$	3,043
	Pension liability adjustment		(1,072	)		371		(701	)		691			(241	)		450
	Cash flow hedges		(15,253	)		5,715		(9,538	)		(62	)		(32	)		(94	)
	Other comprehensive income (loss )	$	(31,198	)	$	6,086	$	(25,112	)	$	3,672		$	(273	)	$	3,399
	The following table summarizes the tax effects on each component of other comprehensive income (loss) for the nine months ended February 28, 2015 and 2014:
		2015								2014
		Before-Tax			Tax Benefit		Net-of-Tax			Before-Tax			Tax Expense			Net-of-Tax
		Amount					Amount			Amount						Amount
	(in thousands)
	Foreign currency translation	$	(31,735	)	$	-	$	(31,735	)	$	5,594		$	-		$	5,594
	Pension liability adjustment		(1,072	)		371		(701	)		691			(241	)		450
	Cash flow hedges		(16,683	)		6,225		(10,458	)		5,419			(1,809	)		3,610
	Other comprehensive income (loss)	$	(49,490	)	$	6,596	$	(42,894	)	$	11,704		$	(2,050	)	$	9,654

Changes_in_Equity

Changes in Equity	9 Months Ended
	Feb. 28, 2015
Changes in Equity	NOTE J – Changes in Equity
	The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interest for the nine months ended February 28, 2015:
			Controlling Interest
	(in thousands)		Additional			Cumulative			Retained			Total			Non-			Total
			Paid-in			Other			Earnings						controlling
			Capital			Comprehensive									Interest
						Loss,
						Net of Tax
	Balance at May 31, 2014		$	262,610		$	(3,581	)	$	591,783		$	850,812		$	94,070		$	944,882
	Net earnings			-			-			47,920			47,920			9,110			57,030
	Other comprehensive loss			-			(40,441	)		-			(40,441	)		(2,453	)		(42,894	)
	Common shares issued, net of withholding tax			1,627			-			-			1,627			-			1,627
	Common shares in NQ plans			14,323			-			-			14,323			-			14,323
	Stock-based compensation			21,344			-			-			21,344			-			21,344
	Purchases and retirement of common shares			(13,007	)		-			(85,278	)		(98,285	)		-			(98,285	)
	Cash dividends declared			-			-			(36,560	)		(36,560	)		-			(36,560	)
	Acquisition of dHybrid Systems, LLC			-			-			-			-			4,082			4,082
	Payments to noncontrolling interest			-			-			-			-			(13,876	)		(13,876	)
	Balance at February 28, 2015		$	286,897		$	(44,022	)	$	517,865		$	760,740		$	90,933		$	851,673
	The components of the changes in other comprehensive loss for the nine months ended February 28, 2015, were as follows:
			Foreign			Pension			Cash			Accumulated
			Currency			Liability			Flow			Other
			Translation			Adjustment			Hedges			Comprehensive
												Loss
	(in thousands)
	Balance as of May 31, 2014		$	11,015		$	(11,265	)	$	(3,331	)	$	(3,581	)
	Other comprehensive loss before reclassifications			(29,281	)		(1,072	)		(19,742	)		(50,095	)
	Reclassification adjustments to income (a)			-			-			3,058			3,058
	Income taxes			-			371			6,225			6,596
	Balance as of February 28, 2015		$	(18,266	)	$	(11,966	)	$	(13,790	)	$	(44,022	)
	(a)	The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE P – Derivative Instruments and Hedging Activities.”

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Feb. 28, 2015
Stock-Based Compensation	NOTE K – Stock-Based Compensation
	Non-Qualified Stock Options
	During the nine months ended February 28, 2015, we granted non-qualified stock options covering a total of 96,200 common shares under our stock-based compensation plans. The option price of $43.04 per share was equal to the market price of the underlying common shares at the grant date. The fair value of these stock options, based on the Black-Scholes option-pricing model, calculated at the grant date, was $17.96 per share. The calculated pre-tax stock-based compensation expense for these stock options, after an estimate for forfeitures, is $1,538,000 and will be recognized on a straight-line basis over the three-year vesting period. The following assumptions were used to value these stock options:
	Dividend yield	1.88	%
	Expected volatility	50.92	%
	Risk-free interest rate	1.88	%
	Expected term (years)	6
	Expected volatility is based on the historical volatility of our common shares and the risk-free interest rate is based on the United States Treasury strip rate for the expected term of the stock options. The expected term was developed using historical exercise experience.
	Service-Based Restricted Common Shares
	During the nine months ended February 28, 2015, we granted an aggregate of 237,815 service-based restricted common shares under our stock-based compensation plans. The fair values of these restricted common shares were equal to the weighted average closing market prices of the underlying common shares on the respective dates of grant, or $40.18 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares, after an estimate for forfeitures, is $8,596,000 and will be recognized on a straight-line basis over the three-year service-based vesting period.
	Market-Based Restricted Common Shares
	During the nine months ended February 28, 2015, we granted an aggregate of 50,000 restricted common shares to two key employees under one of our stock-based compensation plans. Vesting of these restricted common share awards is contingent upon the price of our common shares reaching $60.00 per share and remaining at or above that price for 30 consecutive days during the five-year period following the date of grant and the completion of a five-year service vesting period. The grant-date fair value of these restricted common shares, as determined by a Monte Carlo simulation model, was $32.06 per share. The Monte Carlo simulation model is a statistical technique that incorporates multiple assumptions to determine the probability that the market condition will be achieved. The following assumptions were used to determine the grant-date fair value and the derived service period for these restricted common shares:
	Dividend yield	1.6	%
	Expected volatility	44	%
	Risk-free interest rate	1.7	%
	The calculated pre-tax stock-based compensation expense for these restricted common shares is $1,603,000 and will be recognized on a straight-line basis over the five-year service vesting period.
	Performance Share Awards
	We have awarded performance shares to certain key employees that are earned based on the level of achievement with respect to corporate targets for cumulative corporate economic value added, earnings per share growth and, in the case of business unit executives, business unit operating income targets for the three-year periods ending May 31, 2015, 2016 and 2017. These performance share awards will be paid, to the extent earned, in common shares of the Company 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 their respective grant dates and the pre-tax stock-based compensation expense is based on our periodic assessment of the probability of the targets being achieved and our estimate of the number of common shares that will ultimately be issued. During the nine months ended February 28, 2015, we granted performance share awards covering an aggregate of 61,500 common shares (at target levels). The calculated pre-tax stock-based compensation expense for these performance shares is $2,627,000 and will be recognized over the three-year performance period.

Income_Taxes

Income Taxes	9 Months Ended
	Feb. 28, 2015
Income Taxes	NOTE L – Income Taxes
	Income tax expense for the nine months ended February 28, 2015 and February 28, 2014 reflected estimated annual effective income tax rates of 30.9% and 27.3%, respectively. The annual effective income tax rates exclude any impact from the inclusion of net earnings attributable to noncontrolling interests in our consolidated statements of earnings. Net earnings attributable to noncontrolling interest is a result of our Spartan, TWB, Worthington Aritas, WEI, dHybrid, and Worthington Nitin Cylinders consolidated joint ventures. The earnings attributable to the noncontrolling interest in Spartan, WEI, dHybrid and TWB’s U.S. operations do not generate tax expense to Worthington since the investors in Spartan, WEI, dHybrid, and TWB’s U.S. operations are taxed directly based on the earnings attributable to them. All of the tax expense of Worthington Aritas and Worthington Nitin Cylinders, both foreign corporations, is reported in our consolidated tax expense. Since the consolidation of TWB on July 31, 2013, all of the tax expense of TWB’s wholly-owned foreign corporations has been reported in our consolidated tax expense. Management is required to estimate the annual effective income tax rate based upon its forecast of annual pre-tax income for domestic and foreign operations. Our actual effective income tax rate for fiscal 2015 could be materially different from the forecasted rate as of February 28, 2015.

Earnings_Loss_Per_Share

Earnings (Loss) Per Share	9 Months Ended
	Feb. 28, 2015
Earnings (Loss) Per Share	NOTE M – Earnings (Loss) Per Share
	The following table sets forth the computation of basic and diluted earnings (loss) per share attributable to controlling interest for the three and nine months ended February 28, 2015 and 2014:
		Three Months Ended					Nine Months Ended
		February 28,					February 28,
	(in thousands, except per share amounts)	2015			2014		2015		2014
	Numerator (basic & diluted):
	Net earnings (loss) attributable to controlling interest – income (loss) available to common shareholders	$	(25,710	)	$	40,603	$	47,920	$	118,137
	Denominator:
	Denominator for basic earnings (loss) per share attributable to controlling interest – weighted average common shares		66,359			68,895		67,013		69,268
	Effect of dilutive securities		-			2,633		2,288		2,642
	Denominator for diluted earnings (loss) per share attributable to controlling interest – adjusted weighted average common shares		66,359			71,528		69,301		71,910
	Basic earnings (loss) per share attributable to controlling interest	$	(0.39	)	$	0.59	$	0.72	$	1.71
	Diluted earnings (loss) per share attributable to controlling interest	$	(0.39	)	$	0.57	$	0.69	$	1.64
	Stock options and restricted common shares covering 1,924,019 and 9,922 common shares for the three months ended February 28, 2015 and 2014, respectively, and 122,721 and 8,048 common shares for the nine months ended February 28, 2015 and 2014, respectively, have been excluded from the computation of diluted earnings (loss) per share because the effect would have been anti-dilutive. All potentially dilutive shares have been excluded from the computation of diluted loss per share for the three months ended February 28, 2015, because the effect would have been anti-dilutive due to the overall net loss for the period.

Segment_Operations

Segment Operations	9 Months Ended
	Feb. 28, 2015
Segment Operations	NOTE N – Segment Operations
	Summarized financial information for our reportable segments is shown in the following table:
		Three Months Ended						Nine Months Ended
		February 28,						February 28,
	(in thousands)	2015			2014			2015			2014
	Net sales
	Steel Processing	$	500,703		$	477,983		$	1,605,790		$	1,372,558
	Pressure Cylinders		248,086			233,290			749,789			664,212
	Engineered Cabs		45,390			51,485			146,484			147,814
	Other		10,606			10,472			36,148			50,837
	Consolidated net sales	$	804,785		$	773,230		$	2,538,211		$	2,235,421
	Operating income (loss)
	Steel Processing	$	16,406		$	28,264		$	86,152		$	85,713
	Pressure Cylinders		18,611			21,278			47,797			49,007
	Engineered Cabs		(85,780	)		(1,088	)		(93,534	)		(22,284	)
	Other		(1,287	)		(3,165	)		(7,071	)		(9,010	)
	Consolidated operating income (loss)	$	(52,050	)	$	45,289		$	33,344		$	103,426
	Impairment of goodwill and long-lived assets
	Steel Processing	$	-		$	-		$	3,050		$	4,641
	Pressure Cylinders		-			-			9,567			11,634
	Engineered Cabs		81,600			-			83,989			19,100
	Other		-			-			1,179			-
	Consolidated impairment of goodwill and long-lived assets	$	81,600		$	-		$	97,785		$	35,375
	Restructuring and other expense (income)
	Steel Processing	$	(28	)	$	1,380		$	(58	)	$	(3,382	)
	Pressure Cylinders		2,498			412			2,926			(1,035	)
	Engineered Cabs		(313	)		-			(313	)		-
	Other		(64	)		(394	)		(64	)		636
	Consolidated restructuring and other expense (income)	$	2,093		$	1,398		$	2,491		$	(3,781	)
	Joint venture transactions
	Steel Processing	$	-		$	-		$	-		$	-
	Pressure Cylinders		-			-			-			-
	Engineered Cabs		-			-			-			-
	Other		84			120			274			1,048
	Consolidated joint venture transactions	$	84		$	120		$	274		$	1,048
	(in thousands)	February 28,			May 31,
		2015			2014
	Total assets
	Steel Processing	$	927,717		$	850,748
	Pressure Cylinders		851,279			818,720
	Engineered Cabs		93,597			181,251
	Other		348,808			445,662
	Consolidated total assets	$	2,221,401		$	2,296,381

Acquisitions

Acquisitions	9 Months Ended
	Feb. 28, 2015
Acquisitions	NOTE O – Acquisitions
	Rome Strip Steel Company, Inc.
	On January 16, 2015, the Company acquired the net assets of Rome Strip Steel Company, Inc. (“Rome Strip Steel”) for cash consideration of $54,495,000. This amount differs from the $55,312,000 paid at closing due to an estimated working capital deficit of $817,000. Located in Rome, New York, the Rome Strip Steel business manufactures cold rolled steel to extremely tight tolerances. The acquired net assets became part of our Steel Processing operating segment upon closing.
	The assets acquired and liabilities assumed were recognized at their 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 the net assets of Rome Strip Steel, we identified and valued the following identifiable intangible assets:
	(in thousands)				Useful Life
	Category	Amount			(Years)
	Customer relationships	$	4,300			10
	Non-compete agreements		1,200			5
	Total acquired identifiable intangible assets	$	5,500
	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 a going-concern element that represents our ability to earn a higher rate of return on this group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes.
	The following table summarizes the consideration transferred for the net assets of Rome Strip Steel and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Cash	$	10
	Accounts receivable		6,333
	Inventories		17,063
	Prepaid expenses		41
	Intangible assets		5,500
	Property, plant and equipment		22,775
	Total identifiable assets		51,722
	Accounts payable		(3,091	)
	Other accrued items		(410	)
	Other liabilities		(313	)
	Net assets		47,908
	Goodwill		6,587
	Purchase price	$	54,495
	Plus: estimated working capital deficit		817
	Cash paid at closing	$	55,312
	Operating results of the acquired business have been included in our consolidated statement of earnings for the three and nine months ended February 28, 2015 from the acquisition date, forward, and have not been material. Pro forma net sales and net earnings, including the acquired business since the beginning of fiscal 2014, would not be materially different than reported results.
	dHybrid Systems, LLC
	On October 20, 2014, we acquired a 79.59% ownership interest in dHybrid, a leader in compressed natural gas (“CNG”) systems for large trucks. The remaining 20.41% was retained by a founding member. The total purchase price was $15,918,000, which includes contingent consideration with an estimated fair value of $3,979,000. The acquired business became part of our Pressure Cylinders operating segment upon closing.
	The contingent consideration arrangement requires the Company to pay $3,979,000 of additional consideration when cumulative net sales beginning January 1, 2013 reach $20,000,000 plus 50% of gross margin above certain thresholds in each of the five twelve-month periods following the closing date. We determined the acquisition-date fair value of the contingent consideration obligation using a probability weighted cash flow approach based on management’s projections of future sales and gross margin. Refer to “Note Q – Fair Value Measurements” for additional information regarding the fair value measurement of the contingent consideration obligation.
	The assets acquired and liabilities assumed were recognized at their 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 the net assets of dHybrid, we identified and valued the following identifiable intangible assets:
	(in thousands)				Useful Life
	Category	Amount			(Years)
	Technological know-how	$	3,100			10
	Customer relationships		600			7
	Backlog		88			Less than 1
	Total acquired identifiable intangible assets	$	3,788
	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 a going-concern element that represents our ability to earn a higher rate of return on this group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes.
	The following table summarizes the consideration transferred for our 79.59% interest in dHybrid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Consideration Transferred:
	Cash consideration	$	11,939
	Fair value of contingent consideration		3,979
	Total consideration	$	15,918
	Estimated Fair Value of Assets Acquired and Liabilities Assumed:
	Cash and cash equivalents	$	795
	Accounts receivable		1,459
	Inventories		3,300
	Prepaid expenses and other current assets		38
	Intangible assets		3,788
	Property, plant and equipment		396
	Total identifiable assets		9,776
	Accounts payable		(1,163	)
	Accrued liabilities		(160	)
	Long-term debt		(5,000	)
	Net identifiable assets		3,453
	Goodwill		16,547
	Net assets		20,000
	Noncontrolling interest		(4,082	)
	Total consideration	$	15,918
	Operating results of the acquired business have been included in our consolidated statements of earnings for the three and nine months ended February 28, 2015 from the acquisition date, forward, and have not been material. Pro forma net sales and net earnings, including the acquired business since the beginning of fiscal 2014, would not be materially different than reported results.
	Midstream Equipment Fabrication, LLC
	On August 1, 2014, we acquired the net assets of Midstream Equipment Fabrication LLC (“MEF”) for cash consideration of $38,441,000 and the assumption of certain liabilities. The MEF business manufactures patented horizontal heated and high pressure separators used to separate oilfield fluids and gas for customers drilling in the Eagle Ford Shale and is well-situated to serve customers in the Permian Basin. The acquired net assets became part of our Pressure Cylinders operating segment upon closing.
The assets acquired and liabilities assumed were recognized at their 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 the net assets of MEF, we identified and valued the following identifiable intangible assets:
(in thousands)				Useful Life
Category	Amount			(Years)
Technological know-how	$	5,100			10
Customer relationships		4,300			7
Non-compete agreements		2,400			4
Backlog		1,800			Less than 1
Total acquired identifiable intangible assets	$	13,600
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 a going-concern element that represents our ability to earn a higher rate of return on this group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes.
The following table summarizes the consideration transferred for the net assets of MEF and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
(in thousands)
Accounts receivable	$	3,329
Inventories		3,550
Intangible assets		13,600
Property, plant and equipment		166
Total identifiable assets		20,645
Accounts payable		(555	)
Other accrued items		(92	)
Deferred revenue		(4,808	)
Net assets		15,190
Goodwill		23,251
Cash consideration		38,441
The Company incurred $273,000 of acquisition-related costs that were expensed within SG&A expense during the nine months ended February 28, 2015. Operating results of the acquired business have been included in our consolidated statements of earnings for the three and nine months ended February 28, 2015 from the acquisition date, forward, and have not been material. Pro forma net sales and net earnings, including the acquired business since the beginning of fiscal 2014, would not be materially different than reported results.
James Russell Engineering Works, Inc.
On July 31, 2014, we acquired the net assets of James Russell Engineering Works, Inc. (“JRE”) for cash consideration of $1,571,000. The JRE business manufactures aluminum and stainless steel cryogenic transport trailers used for hauling liquid oxygen, nitrogen, argon, hydrogen and liquefied natural gas (“LNG”) for producers and distributors of industrial gases and LNG. The acquired net assets became part of our Pressure Cylinders operating segment upon closing.
The assets acquired and liabilities assumed were recognized at their acquisition-date fair values. 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 a going-concern element that represents our ability to earn a higher rate of return on this group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes.
The following table summarizes the consideration transferred for the net assets of JRE and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
(in thousands)
Cash	$	253
Accounts receivable		509
Inventories		2,793
Prepaid expense and other current assets		40
Property, plant and equipment		250
Total identifiable assets		3,845
Accounts payable		(514	)
Other accrued items		(2,160	)
Net identifiable assets		1,171
Goodwill		400
Total cash consideration	$	1,571
Operating results of the acquired business have been included in our consolidated statements of earnings for the three and nine months ended February 28, 2015 from the acquisition date, forward, and have not been material. Pro forma net sales and net earnings, including the acquired business since the beginning of fiscal 2014, would not be materially different than reported results.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	9 Months Ended
	Feb. 28, 2015
Derivative Instruments and Hedging Activities	NOTE P – Derivative Instruments and Hedging Activities
	We utilize derivative financial instruments to manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative instruments include interest rate risk, currency exchange risk and commodity price risk. While certain of our derivative instruments are designated as hedging instruments, we also enter into derivative 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 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.
	Currency Exchange Risk Management – We conduct business in several major international currencies and are therefore subject to risks associated with changing foreign exchange rates. We enter into various contracts that change in value as foreign exchange rates change to manage this exposure. Such contracts limit exposure to both favorable and unfavorable currency fluctuations. The translation of foreign currencies into United States dollars also subjects us to exposure related to fluctuating exchange rates; however, derivative 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, zinc and other raw materials, and our utility requirements. Our objective is to reduce earnings and cash flow volatility associated with forecasted purchases and sales of these commodities to allow management to focus its attention on business operations. Accordingly, we enter into derivative instruments to manage the associated price risk.
	We are exposed to counterparty credit risk on all of our derivative instruments. Accordingly, we have established and maintain strict counterparty credit guidelines and enter into derivative instruments only with major financial institutions. 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. At February 28, 2015, we had posted total cash collateral of $6,300,000 to our margin accounts. 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 Q – Fair Value” for additional information regarding the accounting treatment for our derivative instruments, as well as how fair value is determined.
	The following table summarizes the fair value of our derivative instruments and the respective financial statement caption in which they were recorded in our consolidated balance sheet at February 28, 2015:
	(in thousands)	Location				Value				Location		Value
	Derivatives designated as hedging instruments:
	Interest rate contracts		Receivables			$	-			Accounts payable		$	246
	Foreign exchange contracts		Receivables				438			Accounts payable			-
	Commodity contracts		Receivables				-			Accounts payable			18,207
	Commodity contracts		Other assets				-			Other liabilities			413
	Totals					$	438					$	18,866
	Derivatives not designated as hedging instruments:
	Commodity contracts		Receivables			$	73			Accounts payable		$	5,422
	Commodity contracts		Other assets				-			Other liabilities			590
	Totals					$	73					$	6,012
	Total Derivative Instruments					$	511					$	24,878
	The amounts in the table above reflect the fair value of the Company’s derivative contracts on a net basis. Had these amounts been recognized on a gross basis, the impact would have been a $345,000 increase in receivables with a corresponding increase in accounts payable.
	The following table summarizes the fair value of our derivative instruments and the respective line in which they were recorded in the consolidated balance sheet at May 31, 2014:
		Asset Derivatives						Liability Derivatives
	(in thousands)	Balance		Fair				Balance		Fair
		Sheet		Value				Sheet		Value
		Location						Location
	Derivatives designated as hedging instruments:
	Interest rate contracts	Receivables		$	-			Accounts payable		$	4,180
	Commodity contracts	Receivables			456			Accounts payable			-
	Totals			$	456					$	4,180
	Derivatives not designated as hedging instruments:
	Commodity contracts	Receivables		$	796			Accounts payable		$	295
	Foreign exchange contracts	Receivables			32			Accounts payable			-
	Totals			$	828					$	295
	Total Derivative Instruments			$	1,284					$	4,475
	The amounts in the table above reflect the fair value of the Company’s derivative contracts on a net basis. Had these amounts been recognized on a gross basis, the impact would have been a $730,000 increase in receivables with a corresponding increase in accounts payable.
	Cash Flow Hedges
	We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rates, foreign exchange rates, and commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) (“OCI”) and reclassified into earnings in the same financial statement caption associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument is recognized in earnings immediately.
	The following table summarizes our cash flow hedges outstanding at February 28, 2015:
	(in thousands)	Notional				Maturity Date
		Amount
	Commodity contracts	$	95,228			March 2015 - June 2016
	Interest rate contracts		17,131			Sep-19
	Foreign currency contracts		3,810			March 2015 - June 2015
	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the three months ended February 28, 2015 and 2014:
	(in thousands)	Gain (Loss)				Location of		Gain (Loss)				Location of				Gain (Loss)
		Recognized				Gain (Loss)		Reclassified				Gain (Loss)				(Ineffective
		in OCI				Reclassified		from				(Ineffective				Portion)
		(Effective				from		Accumulated				Portion)				and Excluded
		Portion)				Accumulated		OCI				and Excluded				from
						OCI		(Effective				from				Effectiveness
						(Effective		Portion)				Effectiveness				Testing
						Portion)						Testing
	For the three months ended February 28, 2015:
	Interest rate contracts	$	-			Interest expense		$	(160	)			Interest expense			$	-
	Commodity contracts		(15,178	)		Cost of goods sold			539				Cost of goods sold				-
	Foreign currency contracts		314			Miscellaneous income			-				Miscellaneous income				-
	Totals	$	(14,864	)				$	379							$	-
	For the three months ended February 28, 2014:
	Interest rate contracts	$	4			Interest expense		$	(1,059	)			Interest expense			$	-
	Commodity contracts		(3,644	)		Cost of goods sold			(2,519	)			Cost of goods sold				-
	Totals	$	(3,640	)				$	(3,578	)						$	-
	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the nine months ended February 28, 2015 and 2014:
	(in thousands)	Gain (Loss)				Location of		Gain (Loss)				Location of		Gain (Loss)
Recognized		Gain  (Loss)	Reclassified			Gain (Loss)		(Ineffective
in OCI		Reclassified	from			(Ineffective		Portion)
(Effective		from	Accumulated			Portion)		and Excluded
Portion)		Accumulated	OCI			and Excluded		from
		OCI	(Effective			from		Effectiveness
		(Effective	Portion)			Effectiveness		Testing
		Portion)				Testing
For the nine months ended February 28, 2015:
Interest rate contracts	$	-			Interest expense		$	(2,445	)		Interest expense		$	-
Commodity contracts		(19,953	)		Cost of goods sold			(613	)		Cost of goods sold			-
Foreign currency contracts		211			Miscellaneous income			-			Miscellaneous income			-
Totals	$	(19,742	)				$	(3,058	)				$	-
For the nine months ended February 28, 2014:
Interest rate contracts	$	(380	)		Interest expense		$	(3,179	)		Interest expense		$	-
Commodity contracts		(1,027	)		Cost of goods sold			(3,647	)		Cost of goods sold			-
Totals	$	(1,407	)				$	(6,826	)				$	-
The estimated net amount of the losses recognized in accumulated OCI at February 28, 2015 expected to be reclassified into net earnings within the succeeding twelve months is $11,742,000 (net of tax of $6,982,000). This amount was computed using the fair value of the cash flow hedges at February 28, 2015, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2015 and 2016.
Economic (Non-designated) Hedges
We enter into foreign currency contracts to manage our foreign exchange 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 instruments are adjusted to current market value at the end of each period through earnings.
The following table summarizes our economic (non-designated) derivative instruments outstanding at February 28, 2015:
(in thousands)	Notional				Maturity Date(s)
	Amount
Commodity contracts	$	50,973			March 2015 - February 2016
The following table summarizes the loss recognized in earnings for economic (non-designated) derivative financial instruments during the three months ended February 28, 2015 and 2014:
	Location of Loss		Loss Recognized
			in Earnings for the
			Three Months Ended
			February  28,
(in thousands)	Recognized in Earnings		2015				2014
Commodity contracts	Cost of goods sold		$	(4,105	)		$	(1,241	)
Foreign currency contracts	Miscellaneous income (expense)			-				(205	)
Total			$	(4,105	)		$	(1,446	)
The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the nine months ended February 28, 2015 and 2014:
	Location of Gain (Loss)		Gain (Loss) Recognized
			in Earnings for the
			Nine Months  Ended
			February 28,
(in thousands)	Recognized in Earnings		2015				2014
Commodity contracts	Cost of goods sold		$	(6,522	)		$	(959	)
Foreign currency contracts	Miscellaneous income (expense)			43				(210	)
Total			$	(6,479	)		$	(1,169	)
The gain (loss) on the foreign currency derivatives significantly offsets the gain (loss) on the hedged item.

Fair_Value

Fair Value	9 Months Ended
	Feb. 28, 2015
Fair Value	NOTE Q – Fair Value
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows:
	Level 1		–		Observable prices in active markets for identical assets and liabilities.
	Level 2		–		Observable inputs other than quoted prices in active markets for identical assets and liabilities.
	Level 3		–		Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.
	Recurring Fair Value Measurements
	At February 28, 2015, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
	(in thousands)		Quoted Prices			Significant		Significant		Totals
			in Active			Other		Unobservable
			Markets			Observable		Inputs
			(Level 1)			Inputs		(Level 3)
						(Level 2)
	Assets
	Derivative contracts (1)		$	-		$	511	$	-	$	511
	Total assets		$	-		$	511	$	-	$	511
	Liabilities
	Derivative contracts (1)		$	-		$	24,878	$	-	$	24,878
	Contingent consideration obligation (2)			-			-		3,979		3,979
	Total liabilities		$	-		$	24,878	$	3,979	$	28,857
	At May 31, 2014, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
	(in thousands)		Quoted Prices			Significant		Significant		Totals
			in Active			Other		Unobservable
			Markets			Observable		Inputs
			(Level 1)			Inputs		(Level 3)
						(Level 2)
	Assets
	Derivative contracts (1)		$	-		$	1,284	$	-	$	1,284
	Total assets		$	-		$	1,284	$	-	$	1,284
	Liabilities
	Derivative contracts (1)		$	-		$	4,475	$	-	$	4,475
	Contingent consideration obligation (2)			-			-		404		404
	Total liabilities		$	-		$	4,475	$	404	$	4,879
	-1	The fair value of our derivative contracts 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 P – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative instruments.
	-2	The fair value of the Company’s contingent consideration obligations is determined using a probability weighted cash flow approach based on management’s projections of future cash flows of the acquired businesses. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
	Non-Recurring Fair Value Measurements
	At February 28, 2015, our financial assets and liabilities measured at fair value on a non-recurring basis were as follows:
	(in thousands)		Quoted Prices			Significant		Significant		Totals
			in Active			Other		Unobservable
			Markets			Observable		Inputs
			(Level 1)			Inputs		(Level 3)
						(Level 2)
	Assets
	Long-lived assets held and used (1)		$	-		$	-	$	11,803	$	11,803
	Total assets		$	-		$	-	$	11,803	$	11,803
	-1	During the third quarter of fiscal 2015, the Company concluded that an interim impairment test of the goodwill of its Engineered Cabs operating segment was necessary. Prior to conducting the goodwill impairment test, the Company first evaluated the other long-lived assets of the Engineered Cabs operating segment for recoverability. Recoverability was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of the undiscounted future cash flows for the customer relationship intangible asset and the property, plant and equipment of the Florence facility were less than their respective carrying values. As a result, these assets were written down to their respective fair values of $2,000,000 and $9,803,000, resulting in impairment charges of $22,356,000 for the customer relationship intangible asset and $14,311,000 for the property, plant and equipment of the Florence asset group during the third quarter of fiscal 2015. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
	At May 31, 2014, our assets measured at fair value on a non-recurring basis were categorized as follows:
	(in thousands)		Quoted Prices			Significant		Significant		Totals
			in Active			Other		Unobservable
			Markets			Observable		Inputs
			(Level 1)			Inputs		(Level 3)
						(Level 2)
	Assets
	Long-lived assets held for sale (1)		$	-		$	25,040	$	-	$	25,040
	Long-lived assets held and used (2)			-			7,034		-		7,034
	Total assets		$	-		$	32,074	$	-	$	32,074
	-1	During the fourth quarter of fiscal 2014, management committed to a plan to sell the Company’s 60%-owned consolidated joint venture in India, Worthington Nitin Cylinders. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $5,925,000, was lower than its net book value, an impairment charge of $18,959,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings. The portion of this impairment loss attributable to the noncontrolling interest, or $7,583,000, was recorded within net earnings attributable to noncontrolling interest in our fiscal 2014 consolidated statement of earnings.
	During the fourth quarter of fiscal 2014, management committed to plans to sell certain non-core Steel Processing assets. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $19,115,000, was lower than its net book value, an impairment charge of $7,141,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.
	-2	During the fourth quarter of fiscal 2014, we determined that indicators of impairment were present at the Company’s aluminum high-pressure cylinder business in New Albany, Mississippi, due to current and projected operating losses. Recoverability of the identified asset group was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value of $7,034,000, resulting in an impairment charge of $1,412,000 within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.
	The fair value of non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, notes receivable, income taxes receivable, other assets, accounts payable, short-term borrowings, 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 $624,142,000 and $674,488,000 at February 28, 2015 and May 31, 2014, respectively. The carrying amount of long-term debt, including current maturities, was $576,803,000 and $655,963,000 at February 28, 2015 and May 31, 2014, respectively.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Feb. 28, 2015
Recently Issued Accounting Standards	Recently Issued Accounting Standards
	In March 2013, amended accounting guidance was issued regarding the accounting for cumulative translation adjustment. The amended guidance specifies that a cumulative translation adjustment should be recorded to earnings when an entity ceases to have a controlling financial interest in a subsidiary or a group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of the cumulative translation adjustment attributable to the investment would be recognized in earnings upon sale of the investment. The amended guidance is effective prospectively for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2013. Early adoption is permitted. The adoption of this amended accounting guidance on June 1, 2014 did not have a material impact on our consolidated financial position or results of operations.
	In May 2014, amended accounting guidance was issued that replaces most existing revenue recognition guidance under U.S. GAAP. The amended guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The amended guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position and results of operations. The amended guidance permits the use of either the retrospective or cumulative effect transition method. We have not selected a transition method nor have we determined the effect of the amended guidance on our ongoing financial reporting.
Economic (Non-designated) Hedges	Economic (Non-designated) Hedges
	We enter into foreign currency contracts to manage our foreign exchange 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 instruments are adjusted to current market value at the end of each period through earnings.
Cash Flow Hedges
Cash Flow Hedges	Cash Flow Hedges
	We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rates, foreign exchange rates, and commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) (“OCI”) and reclassified into earnings in the same financial statement caption associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument is recognized in earnings immediately.

Investments_in_Unconsolidated_1

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Feb. 28, 2015
Balance Sheet
Financial Information	Combined financial information for our unconsolidated affiliates is summarized as follows:
	(in thousands)		February 28,		May 31,
			2015		2014
	Cash		$	48,422	$	52,997
	Receivable from member (1)			10,865		12,717
	Other current assets			462,631		454,417
	Noncurrent assets			286,170		294,001
	Total assets		$	808,088	$	814,132
	Current liabilities		$	131,216	$	128,595
	Short-term borrowings			38,324		40,992
	Current maturities of long-term debt			4,480		4,510
	Long-term debt			264,982		268,350
	Other noncurrent liabilities			20,407		20,217
	Equity			348,679		351,468
	Total liabilities and equity		$	808,088	$	814,132
	-1	Represents cash owed from a joint venture member as a result of centralized cash management.
Income Statement
Financial Information
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(in thousands)		2015		2014		2015		2014
	Net sales		$	356,604	$	340,645	$	1,137,866	$	1,121,362
	Gross margin			67,636		73,217		232,580		239,098
	Operating income			41,335		48,752		154,678		164,824
	Depreciation and amortization			8,827		8,622		26,932		28,063
	Interest expense			2,157		2,494		6,492		6,950
	Income tax expense			2,555		2,937		8,107		8,829
	Net earnings			37,859		44,018		141,789		149,801

Restructuring_and_Other_Expens1

Restructuring and Other Expense (Tables)	9 Months Ended
	Feb. 28, 2015
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense financial statement caption in our consolidated statement of earnings for the nine months ended February 28, 2015 is summarized as follows:
	(in thousands)	Beginning		Expense			Payments			Adjustments		Ending
		Balance										Balance
	Early retirement and severance	$	6,495	$	2,169		$	(5,313	)	$	46	$	3,397
	Facility exit and other costs		534		909			(1,203	)		79		319
		$	7,029		3,078		$	(6,516	)	$	125	$	3,716
	Gain on asset disposal				(313	)
	Less: joint venture transactions				(274	)
	Restructuring and other expense			$	2,491

Contingent_Liabilities_Tables

Contingent Liabilities (Tables)	9 Months Ended
	Feb. 28, 2015
Total Proceeds Received related to Insurance Claims since Date of Loss	Total proceeds received related to insurance claims since the date of loss have been as follows:
	(in thousands)
	Property and equipment	$	6,892
	Business interruption		5,521
	Other expenses		1,001
	Total insurance proceeds	$	13,414

Comprehensive_Income_Loss_Tabl

Comprehensive Income (Loss) (Tables)	9 Months Ended
	Feb. 28, 2015
Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss)	The following table summarizes the tax effects on each component of other comprehensive income (loss) for the three months ended February 28, 2015 and 2014:
		2015								2014
		Before-Tax			Tax Benefit		Net-of-Tax			Before-Tax			Tax Expense			Net-of-Tax
		Amount					Amount			Amount						Amount
	(in thousands)
	Foreign currency translation		(14,873	)	$	-	$	(14,873	)	$	3,043			-		$	3,043
	Pension liability adjustment		(1,072	)		371		(701	)		691			(241	)		450
	Cash flow hedges		(15,253	)		5,715		(9,538	)		(62	)		(32	)		(94	)
	Other comprehensive income (loss )	$	(31,198	)	$	6,086	$	(25,112	)	$	3,672		$	(273	)	$	3,399
	The following table summarizes the tax effects on each component of other comprehensive income (loss) for the nine months ended February 28, 2015 and 2014:
		2015								2014
		Before-Tax			Tax Benefit		Net-of-Tax			Before-Tax			Tax Expense			Net-of-Tax
		Amount					Amount			Amount						Amount
	(in thousands)
	Foreign currency translation	$	(31,735	)	$	-	$	(31,735	)	$	5,594		$	-		$	5,594
	Pension liability adjustment		(1,072	)		371		(701	)		691			(241	)		450
	Cash flow hedges		(16,683	)		6,225		(10,458	)		5,419			(1,809	)		3,610
	Other comprehensive income (loss)	$	(49,490	)	$	6,596	$	(42,894	)	$	11,704		$	(2,050	)	$	9,654

Changes_in_Equity_Tables

Changes in Equity (Tables)	9 Months Ended
	Feb. 28, 2015
Summary of Changes in Total Equity, Shareholders' Equity Attributable to Controlling Interest, and Equity Attributable to Noncontrolling Interest	The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interest for the nine months ended February 28, 2015:
			Controlling Interest
	(in thousands)		Additional			Cumulative			Retained			Total			Non-			Total
			Paid-in			Other			Earnings						controlling
			Capital			Comprehensive									Interest
						Loss,
						Net of Tax
	Balance at May 31, 2014		$	262,610		$	(3,581	)	$	591,783		$	850,812		$	94,070		$	944,882
	Net earnings			-			-			47,920			47,920			9,110			57,030
	Other comprehensive loss			-			(40,441	)		-			(40,441	)		(2,453	)		(42,894	)
	Common shares issued, net of withholding tax			1,627			-			-			1,627			-			1,627
	Common shares in NQ plans			14,323			-			-			14,323			-			14,323
	Stock-based compensation			21,344			-			-			21,344			-			21,344
	Purchases and retirement of common shares			(13,007	)		-			(85,278	)		(98,285	)		-			(98,285	)
	Cash dividends declared			-			-			(36,560	)		(36,560	)		-			(36,560	)
	Acquisition of dHybrid Systems, LLC			-			-			-			-			4,082			4,082
	Payments to noncontrolling interest			-			-			-			-			(13,876	)		(13,876	)
	Balance at February 28, 2015		$	286,897		$	(44,022	)	$	517,865		$	760,740		$	90,933		$	851,673
Components of Changes in Other Comprehensive Loss	The components of the changes in other comprehensive loss for the nine months ended February 28, 2015, were as follows:
			Foreign			Pension			Cash			Accumulated
			Currency			Liability			Flow			Other
			Translation			Adjustment			Hedges			Comprehensive
												Loss
	(in thousands)
	Balance as of May 31, 2014		$	11,015		$	(11,265	)	$	(3,331	)	$	(3,581	)
	Other comprehensive loss before reclassifications			(29,281	)		(1,072	)		(19,742	)		(50,095	)
	Reclassification adjustments to income (a)			-			-			3,058			3,058
	Income taxes			-			371			6,225			6,596
	Balance as of February 28, 2015		$	(18,266	)	$	(11,966	)	$	(13,790	)	$	(44,022	)
	(a)	The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE P – Derivative Instruments and Hedging Activities.”

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Feb. 28, 2015
Non-Qualified Stock Options
Assumptions to Value Stock Options	The following assumptions were used to value these stock options:
	Dividend yield	1.88	%
	Expected volatility	50.92	%
	Risk-free interest rate	1.88	%
	Expected term (years)	6
Market-Based Restricted Common Shares
Assumptions to Value Stock Options	The following assumptions were used to determine the grant-date fair value and the derived service period for these restricted common shares:
	Dividend yield	1.6	%
	Expected volatility	44	%
	Risk-free interest rate	1.7	%

Earnings_Loss_Per_Share_Tables

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Feb. 28, 2015
Computation of Basic and Diluted Earnings (Loss) per Share Attributable to Controlling Interest	The following table sets forth the computation of basic and diluted earnings (loss) per share attributable to controlling interest for the three and nine months ended February 28, 2015 and 2014:
		Three Months Ended					Nine Months Ended
		February 28,					February 28,
	(in thousands, except per share amounts)	2015			2014		2015		2014
	Numerator (basic & diluted):
	Net earnings (loss) attributable to controlling interest – income (loss) available to common shareholders	$	(25,710	)	$	40,603	$	47,920	$	118,137
	Denominator:
	Denominator for basic earnings (loss) per share attributable to controlling interest – weighted average common shares		66,359			68,895		67,013		69,268
	Effect of dilutive securities		-			2,633		2,288		2,642
	Denominator for diluted earnings (loss) per share attributable to controlling interest – adjusted weighted average common shares		66,359			71,528		69,301		71,910
	Basic earnings (loss) per share attributable to controlling interest	$	(0.39	)	$	0.59	$	0.72	$	1.71
	Diluted earnings (loss) per share attributable to controlling interest	$	(0.39	)	$	0.57	$	0.69	$	1.64

Segment_Operations_Tables

Segment Operations (Tables)	9 Months Ended
	Feb. 28, 2015
Financial Information for Reportable Segments	Summarized financial information for our reportable segments is shown in the following table:
		Three Months Ended						Nine Months Ended
		February 28,						February 28,
	(in thousands)	2015			2014			2015			2014
	Net sales
	Steel Processing	$	500,703		$	477,983		$	1,605,790		$	1,372,558
	Pressure Cylinders		248,086			233,290			749,789			664,212
	Engineered Cabs		45,390			51,485			146,484			147,814
	Other		10,606			10,472			36,148			50,837
	Consolidated net sales	$	804,785		$	773,230		$	2,538,211		$	2,235,421
	Operating income (loss)
	Steel Processing	$	16,406		$	28,264		$	86,152		$	85,713
	Pressure Cylinders		18,611			21,278			47,797			49,007
	Engineered Cabs		(85,780	)		(1,088	)		(93,534	)		(22,284	)
	Other		(1,287	)		(3,165	)		(7,071	)		(9,010	)
	Consolidated operating income (loss)	$	(52,050	)	$	45,289		$	33,344		$	103,426
	Impairment of goodwill and long-lived assets
	Steel Processing	$	-		$	-		$	3,050		$	4,641
	Pressure Cylinders		-			-			9,567			11,634
	Engineered Cabs		81,600			-			83,989			19,100
	Other		-			-			1,179			-
	Consolidated impairment of goodwill and long-lived assets	$	81,600		$	-		$	97,785		$	35,375
	Restructuring and other expense (income)
	Steel Processing	$	(28	)	$	1,380		$	(58	)	$	(3,382	)
	Pressure Cylinders		2,498			412			2,926			(1,035	)
	Engineered Cabs		(313	)		-			(313	)		-
	Other		(64	)		(394	)		(64	)		636
	Consolidated restructuring and other expense (income)	$	2,093		$	1,398		$	2,491		$	(3,781	)
	Joint venture transactions
	Steel Processing	$	-		$	-		$	-		$	-
	Pressure Cylinders		-			-			-			-
	Engineered Cabs		-			-			-			-
	Other		84			120			274			1,048
	Consolidated joint venture transactions	$	84		$	120		$	274		$	1,048
	(in thousands)	February 28,			May 31,
		2015			2014
	Total assets
	Steel Processing	$	927,717		$	850,748
	Pressure Cylinders		851,279			818,720
	Engineered Cabs		93,597			181,251
	Other		348,808			445,662
	Consolidated total assets	$	2,221,401		$	2,296,381

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Feb. 28, 2015
DHybrid Systems Llc
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of the net assets of dHybrid, we identified and valued the following identifiable intangible assets:
	(in thousands)				Useful Life
	Category	Amount			(Years)
	Technological know-how	$	3,100			10
	Customer relationships		600			7
	Backlog		88			Less than 1
	Total acquired identifiable intangible assets	$	3,788
Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed	The following table summarizes the consideration transferred for our 79.59% interest in dHybrid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Consideration Transferred:
	Cash consideration	$	11,939
	Fair value of contingent consideration		3,979
	Total consideration	$	15,918
	Estimated Fair Value of Assets Acquired and Liabilities Assumed:
	Cash and cash equivalents	$	795
	Accounts receivable		1,459
	Inventories		3,300
	Prepaid expenses and other current assets		38
	Intangible assets		3,788
	Property, plant and equipment		396
	Total identifiable assets		9,776
	Accounts payable		(1,163	)
	Accrued liabilities		(160	)
	Long-term debt		(5,000	)
	Net identifiable assets		3,453
	Goodwill		16,547
	Net assets		20,000
	Noncontrolling interest		(4,082	)
	Total consideration	$	15,918
JRE
Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed	The following table summarizes the consideration transferred for the net assets of JRE and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Cash	$	253
	Accounts receivable		509
	Inventories		2,793
	Prepaid expense and other current assets		40
	Property, plant and equipment		250
	Total identifiable assets		3,845
	Accounts payable		(514	)
	Other accrued items		(2,160	)
	Net identifiable assets		1,171
	Goodwill		400
	Total cash consideration	$	1,571
Rome Strip Steel
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of the net assets of Rome Strip Steel, we identified and valued the following identifiable intangible assets:
	(in thousands)				Useful Life
	Category	Amount			(Years)
	Customer relationships	$	4,300			10
	Non-compete agreements		1,200			5
	Total acquired identifiable intangible assets	$	5,500
Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed	The following table summarizes the consideration transferred for the net assets of Rome Strip Steel and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Cash	$	10
	Accounts receivable		6,333
	Inventories		17,063
	Prepaid expenses		41
	Intangible assets		5,500
	Property, plant and equipment		22,775
	Total identifiable assets		51,722
	Accounts payable		(3,091	)
	Other accrued items		(410	)
	Other liabilities		(313	)
	Net assets		47,908
	Goodwill		6,587
	Purchase price	$	54,495
	Plus: estimated working capital deficit		817
	Cash paid at closing	$	55,312
MEF
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of the net assets of MEF, we identified and valued the following identifiable intangible assets:
	(in thousands)				Useful Life
	Category	Amount			(Years)
	Technological know-how	$	5,100			10
	Customer relationships		4,300			7
	Non-compete agreements		2,400			4
	Backlog		1,800			Less than 1
	Total acquired identifiable intangible assets	$	13,600
Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed	The following table summarizes the consideration transferred for the net assets of MEF and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:
	(in thousands)
	Accounts receivable	$	3,329
	Inventories		3,550
	Intangible assets		13,600
	Property, plant and equipment		166
	Total identifiable assets		20,645
	Accounts payable		(555	)
	Other accrued items		(92	)
	Deferred revenue		(4,808	)
	Net assets		15,190
	Goodwill		23,251
	Cash consideration		38,441

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Feb. 28, 2015
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of our derivative instruments and the respective financial statement caption in which they were recorded in our consolidated balance sheet at February 28, 2015:
	(in thousands)	Location				Value				Location		Value
	Derivatives designated as hedging instruments:
	Interest rate contracts		Receivables			$	-			Accounts payable		$	246
	Foreign exchange contracts		Receivables				438			Accounts payable			-
	Commodity contracts		Receivables				-			Accounts payable			18,207
	Commodity contracts		Other assets				-			Other liabilities			413
	Totals					$	438					$	18,866
	Derivatives not designated as hedging instruments:
	Commodity contracts		Receivables			$	73			Accounts payable		$	5,422
	Commodity contracts		Other assets				-			Other liabilities			590
	Totals					$	73					$	6,012
	Total Derivative Instruments					$	511					$	24,878
	The following table summarizes the fair value of our derivative instruments and the respective line in which they were recorded in the consolidated balance sheet at May 31, 2014:
		Asset Derivatives						Liability Derivatives
	(in thousands)	Balance		Fair				Balance		Fair
		Sheet		Value				Sheet		Value
		Location						Location
	Derivatives designated as hedging instruments:
	Interest rate contracts	Receivables		$	-			Accounts payable		$	4,180
	Commodity contracts	Receivables			456			Accounts payable			-
	Totals			$	456					$	4,180
	Derivatives not designated as hedging instruments:
	Commodity contracts	Receivables		$	796			Accounts payable		$	295
	Foreign exchange contracts	Receivables			32			Accounts payable			-
	Totals			$	828					$	295
	Total Derivative Instruments			$	1,284					$	4,475
Schedule of Derivatives Designated as Cash Flow Hedging Instruments	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the three months ended February 28, 2015 and 2014:
	(in thousands)	Gain (Loss)				Location of		Gain (Loss)				Location of				Gain (Loss)
		Recognized				Gain (Loss)		Reclassified				Gain (Loss)				(Ineffective
		in OCI				Reclassified		from				(Ineffective				Portion)
		(Effective				from		Accumulated				Portion)				and Excluded
		Portion)				Accumulated		OCI				and Excluded				from
						OCI		(Effective				from				Effectiveness
						(Effective		Portion)				Effectiveness				Testing
						Portion)						Testing
	For the three months ended February 28, 2015:
	Interest rate contracts	$	-			Interest expense		$	(160	)			Interest expense			$	-
	Commodity contracts		(15,178	)		Cost of goods sold			539				Cost of goods sold				-
	Foreign currency contracts		314			Miscellaneous income			-				Miscellaneous income				-
	Totals	$	(14,864	)				$	379							$	-
	For the three months ended February 28, 2014:
	Interest rate contracts	$	4			Interest expense		$	(1,059	)			Interest expense			$	-
	Commodity contracts		(3,644	)		Cost of goods sold			(2,519	)			Cost of goods sold				-
	Totals	$	(3,640	)				$	(3,578	)						$	-
	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the nine months ended February 28, 2015 and 2014:
	(in thousands)	Gain (Loss)				Location of		Gain (Loss)				Location of		Gain (Loss)
		Recognized				Gain  (Loss)		Reclassified				Gain (Loss)		(Ineffective
		in OCI				Reclassified		from				(Ineffective		Portion)
		(Effective				from		Accumulated				Portion)		and Excluded
		Portion)				Accumulated		OCI				and Excluded		from
						OCI		(Effective				from		Effectiveness
						(Effective		Portion)				Effectiveness		Testing
						Portion)						Testing
	For the nine months ended February 28, 2015:
	Interest rate contracts	$	-			Interest expense		$	(2,445	)		Interest expense		$	-
	Commodity contracts		(19,953	)		Cost of goods sold			(613	)		Cost of goods sold			-
	Foreign currency contracts		211			Miscellaneous income			-			Miscellaneous income			-
	Totals	$	(19,742	)				$	(3,058	)				$	-
	For the nine months ended February 28, 2014:
	Interest rate contracts	$	(380	)		Interest expense		$	(3,179	)		Interest expense		$	-
	Commodity contracts		(1,027	)		Cost of goods sold			(3,647	)		Cost of goods sold			-
	Totals	$	(1,407	)				$	(6,826	)				$	-
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the loss recognized in earnings for economic (non-designated) derivative financial instruments during the three months ended February 28, 2015 and 2014:
		Location of Loss		Loss Recognized
				in Earnings for the
				Three Months Ended
				February  28,
	(in thousands)	Recognized in Earnings		2015				2014
	Commodity contracts	Cost of goods sold		$	(4,105	)		$	(1,241	)
	Foreign currency contracts	Miscellaneous income (expense)			-				(205	)
	Total			$	(4,105	)		$	(1,446	)
	The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the nine months ended February 28, 2015 and 2014:
		Location of Gain (Loss)		Gain (Loss) Recognized
				in Earnings for the
				Nine Months  Ended
				February 28,
	(in thousands)	Recognized in Earnings		2015				2014
	Commodity contracts	Cost of goods sold		$	(6,522	)		$	(959	)
	Foreign currency contracts	Miscellaneous income (expense)			43				(210	)
	Total			$	(6,479	)		$	(1,169	)
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at February 28, 2015:
	(in thousands)	Notional				Maturity Date
		Amount
	Commodity contracts	$	95,228			March 2015 - June 2016
	Interest rate contracts		17,131			Sep-19
	Foreign currency contracts		3,810			March 2015 - June 2015
Derivatives Not Designated As Hedging Instruments
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative instruments outstanding at February 28, 2015:
	(in thousands)	Notional				Maturity Date(s)
		Amount
	Commodity contracts	$	50,973			March 2015 - February 2016

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Feb. 28, 2015
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	At February 28, 2015, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
	(in thousands)		Quoted Prices		Significant		Significant		Totals
			in Active		Other		Unobservable
			Markets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
					(Level 2)
	Assets
	Derivative contracts (1)		$	-	$	511	$	-	$	511
	Total assets		$	-	$	511	$	-	$	511
	Liabilities
	Derivative contracts (1)		$	-	$	24,878	$	-	$	24,878
	Contingent consideration obligation (2)			-		-		3,979		3,979
	Total liabilities		$	-	$	24,878	$	3,979	$	28,857
	At May 31, 2014, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
	(in thousands)		Quoted Prices		Significant		Significant		Totals
			in Active		Other		Unobservable
			Markets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
					(Level 2)
	Assets
	Derivative contracts (1)		$	-	$	1,284	$	-	$	1,284
	Total assets		$	-	$	1,284	$	-	$	1,284
	Liabilities
	Derivative contracts (1)		$	-	$	4,475	$	-	$	4,475
	Contingent consideration obligation (2)			-		-		404		404
	Total liabilities		$	-	$	4,475	$	404	$	4,879
	-1	The fair value of our derivative contracts 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 P – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative instruments.
	-2	The fair value of the Company’s contingent consideration obligations is determined using a probability weighted cash flow approach based on management’s projections of future cash flows of the acquired businesses. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
Assets and Liabilities Measured at Fair Value on Non-recurring Basis	At February 28, 2015, our financial assets and liabilities measured at fair value on a non-recurring basis were as follows:
	(in thousands)		Quoted Prices		Significant		Significant		Totals
			in Active		Other		Unobservable
			Markets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
					(Level 2)
	Assets
	Long-lived assets held and used (1)		$	-	$	-	$	11,803	$	11,803
	Total assets		$	-	$	-	$	11,803	$	11,803
	-1	During the third quarter of fiscal 2015, the Company concluded that an interim impairment test of the goodwill of its Engineered Cabs operating segment was necessary. Prior to conducting the goodwill impairment test, the Company first evaluated the other long-lived assets of the Engineered Cabs operating segment for recoverability. Recoverability was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of the undiscounted future cash flows for the customer relationship intangible asset and the property, plant and equipment of the Florence facility were less than their respective carrying values. As a result, these assets were written down to their respective fair values of $2,000,000 and $9,803,000, resulting in impairment charges of $22,356,000 for the customer relationship intangible asset and $14,311,000 for the property, plant and equipment of the Florence asset group during the third quarter of fiscal 2015. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
	At May 31, 2014, our assets measured at fair value on a non-recurring basis were categorized as follows:
	(in thousands)		Quoted Prices		Significant		Significant		Totals
			in Active		Other		Unobservable
			Markets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
					(Level 2)
	Assets
	Long-lived assets held for sale (1)		$	-	$	25,040	$	-	$	25,040
	Long-lived assets held and used (2)			-		7,034		-		7,034
	Total assets		$	-	$	32,074	$	-	$	32,074
	-1	During the fourth quarter of fiscal 2014, management committed to a plan to sell the Company’s 60%-owned consolidated joint venture in India, Worthington Nitin Cylinders. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $5,925,000, was lower than its net book value, an impairment charge of $18,959,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings. The portion of this impairment loss attributable to the noncontrolling interest, or $7,583,000, was recorded within net earnings attributable to noncontrolling interest in our fiscal 2014 consolidated statement of earnings.
	During the fourth quarter of fiscal 2014, management committed to plans to sell certain non-core Steel Processing assets. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $19,115,000, was lower than its net book value, an impairment charge of $7,141,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.
	-2	During the fourth quarter of fiscal 2014, we determined that indicators of impairment were present at the Company’s aluminum high-pressure cylinder business in New Albany, Mississippi, due to current and projected operating losses. Recoverability of the identified asset group was tested using future cash flow projections based on management’s long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value of $7,034,000, resulting in an impairment charge of $1,412,000 within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.

Basis_of_Presentation_Addition

Basis of Presentation - Additional Information (Detail) (Joint Venture Transactions)	Feb. 28, 2015	31-May-14
DHybrid Systems Llc
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	79.59%
Spartan
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	52.00%
TWB
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	55.00%
Worthington Aritas
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	75.00%
WEI
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	75.00%
Worthington Nitin Cylinders
Basis of Presentation [Line Items]
Percent of controlling interest by the Company	60.00%	60.00%

Inventory_Additional_Informati

Inventory - Additional Information (Detail) (USD $)	3 Months Ended
	Feb. 28, 2015
Inventory [Line Items]
Lower of cost or market adjustment	$5,115,000

Investments_in_Unconsolidated_2

Investments in Unconsolidated Affiliates - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
	Feb. 28, 2015	Feb. 28, 2015	Feb. 28, 2014	Jul. 31, 2013
Investments in and Advances to Affiliates [Line Items]
Distributions from unconsolidated affiliates		$61,239,000
Distributions from (investments in) unconsolidated affiliates	-4,559,000	-8,230,000	9,223,000
ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Distributions from (investments in) unconsolidated affiliates		570,000
WAVE
Investments in and Advances to Affiliates [Line Items]
Cumulative distributions in excess of investment		$63,933,000
Joint Venture Transactions | TWB
Investments in and Advances to Affiliates [Line Items]
Percentage of additional interest acquired by the company				10.00%
Joint Venture Transactions | ArtiFlex
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%	50.00%
Joint Venture Transactions | ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	25.00%	25.00%
Joint Venture Transactions | Samuel Steel Pickling Company
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	31.25%	31.25%
Joint Venture Transactions | Seviacero
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%	50.00%
Joint Venture Transactions | WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%	50.00%
Joint Venture Transactions | Worthington Specialty Processing
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	51.00%	51.00%
Joint Venture Transactions | Zhejiang Nisshin Worthington Precision Specialty Steel Co
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	10.00%	10.00%

Schedule_of_Combined_Financial

Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015		Feb. 28, 2014	Feb. 28, 2015		Feb. 28, 2014	31-May-14
Investments in and Advances to Affiliates [Line Items]
Cash	$48,422			$48,422			$52,997
Receivable from member	10,865	[1]		10,865	[1]		12,717	[1]
Other current assets	462,631			462,631			454,417
Noncurrent assets	286,170			286,170			294,001
Total assets	808,088			808,088			814,132
Current liabilities	131,216			131,216			128,595
Short-term borrowings	38,324			38,324			40,992
Current maturities of long-term debt	4,480			4,480			4,510
Long-term debt	264,982			264,982			268,350
Other noncurrent liabilities	20,407			20,407			20,217
Equity	348,679			348,679			351,468
Total liabilities and equity	808,088			808,088			814,132
Net sales	356,604		340,645	1,137,866		1,121,362
Gross margin	67,636		73,217	232,580		239,098
Operating income	41,335		48,752	154,678		164,824
Depreciation and amortization	8,827		8,622	26,932		28,063
Interest expense	2,157		2,494	6,492		6,950
Income tax expense	2,555		2,937	8,107		8,829
Net earnings	$37,859		$44,018	$141,789		$149,801
[1]	Represents cash owed from a joint venture member as a result of centralized cash management.

Impairment_of_LongLived_Assets

Impairment of Long-Lived Assets - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended		3 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2015	Feb. 28, 2014	31-May-14	Nov. 30, 2014
Asset Impairment Charges [Line Items]
Expected future severance expense	$3,000
Impairment of long-lived assets	81,600	97,785	35,375
Goodwill	240,738	240,738		251,093
Gain on asset disposal		-313
Non Core Steel Processing Assets
Asset Impairment Charges [Line Items]
Impairment of long-lived assets		3,050
Worthington Nitin Cylinders
Asset Impairment Charges [Line Items]
Impairment of long-lived assets				18,959
Joint Venture Transactions | Worthington Nitin Cylinders
Asset Impairment Charges [Line Items]
Impairment of long-lived assets					6,346
Percent of controlling interest by the Company	60.00%	60.00%		60.00%
Aluminum High Pressure Cylinder Business
Asset Impairment Charges [Line Items]
Impairment of long-lived assets					3,221
Engineered Cabs
Asset Impairment Charges [Line Items]
Impairment of long-lived assets					2,389
Goodwill written-off	44,933
Goodwill	0	0
Gain on asset disposal	313
Engineered Cabs | Florence Facility
Asset Impairment Charges [Line Items]
Impairment of long-lived assets	14,311
Engineered Cabs | Customer relationships
Asset Impairment Charges [Line Items]
Impairment of long-lived assets	22,356
Military Construction Business
Asset Impairment Charges [Line Items]
Impairment of long-lived assets					$1,179

Schedule_of_Progression_of_Lia

Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Restructuring Cost and Reserve [Line Items]
Beginning Balance			$7,029
Expense			3,078
Payments			-6,516
Adjustments			125
Ending Balance	3,716		3,716
Gain on asset disposal			-313
Less: joint venture transactions	-84	-120	-274	-1,048
Restructuring and other expense	2,093	1,398	2,491	-3,781
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance			6,495
Expense			2,169
Payments			-5,313
Adjustments			46
Ending Balance	3,397		3,397
Facility Exit And Other Costs
Restructuring Cost and Reserve [Line Items]
Beginning Balance			534
Expense			909
Payments			-1,203
Adjustments			79
Ending Balance	$319		$319

Restructuring_and_Other_Expens2

Restructuring and Other Expense - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015
Restructuring Cost and Reserve [Line Items]
Severance expense	$2,291,000
Future payments for restructuring	$3,552,000

Contingent_Liabilities_Additio

Contingent Liabilities - Additional Information (Detail) (USD $)	9 Months Ended	19 Months Ended
	Feb. 28, 2015	Feb. 28, 2015
Commitment And Contingencies [Line Items]
Insurance proceeds for replacement value of damaged property and equipment	$1,248,000	$13,414,000
Book value of assets	243,000
Gain on damaged property and equipment	1,005,000
Business interruption
Commitment And Contingencies [Line Items]
Insurance proceeds for replacement value of damaged property and equipment		5,521,000
Other expenses
Commitment And Contingencies [Line Items]
Insurance proceeds for replacement value of damaged property and equipment		1,001,000
Manufacturing Expense | Business interruption
Commitment And Contingencies [Line Items]
Insurance proceeds for replacement value of damaged property and equipment	2,653,000
Manufacturing Expense | Other expenses
Commitment And Contingencies [Line Items]
Insurance proceeds for replacement value of damaged property and equipment	$256,000

Total_Proceeds_Received_relate

Total Proceeds Received related to Insurance Claims since Date of Loss (Detail) (USD $)	9 Months Ended	19 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2015
Unusual or Infrequent Item [Line Items]
Total insurance proceeds	$1,248	$13,414
Property and equipment
Unusual or Infrequent Item [Line Items]
Total insurance proceeds		6,892
Business interruption
Unusual or Infrequent Item [Line Items]
Total insurance proceeds		5,521
Other expenses
Unusual or Infrequent Item [Line Items]
Total insurance proceeds		$1,001

Guarantees_Additional_Informat

Guarantees - Additional Information (Detail) (USD $)	Feb. 28, 2015
Operating Lease of Aircraft
Loss Contingencies [Line Items]
Maximum potential obligation	$12,036,000
Term Loan
Loss Contingencies [Line Items]
Maximum potential obligation	$2,083,000

Debt_and_Receivables_Securitiz1

Debt and Receivables Securitization - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended	0 Months Ended
	Feb. 28, 2015	Feb. 28, 2015	Oct. 15, 2014	Sep. 26, 2014	31-May-14
Debt And Receivables Securitization [Line Items]
Short-term borrowings	$123,054,000	$123,054,000			$10,362,000
Securities Sold under Agreements to Repurchase
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	100,000,000	100,000,000
Borrowings outstanding	80,000,000	80,000,000
Maturity date	2018-01
Number of days past due trade accounts receivables are ineligible for securitization		90 days
Interest Rate Swap
Debt And Receivables Securitization [Line Items]
Borrowings outstanding			17,131,000
Interest rate swap, interest rate			2.02%
Interest rate swap, start date			26-Dec-14
Interest rate swap, maturity date			26-Sep-19
Unsecured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	425,000,000	425,000,000
Borrowings outstanding	33,840,000	33,840,000
Remaining borrowing capacity	391,160,000	391,160,000
Line of credit, variable rate	1.23%	1.23%
Maturity date		2017-05
Unsecured Revolving Credit Facility | Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period		1 year
Worthington Aritas
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity				28,605,000
Term loan credit facility, term				5 years
Borrowings outstanding	23,432,000	23,432,000
Remaining borrowing capacity	5,173,000	5,173,000
Line of credit, variable rate	1.57%	1.57%
Maturity date		2015-05
Short-term borrowings	3,305,000	3,305,000
Debt, Interest rate	5.55%	5.55%
Worthington Nitin Cylinders
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	9,500,000	9,500,000
Line of credit, variable rate	9.05%	9.05%
Maturity date		2014-11
Short-term borrowings	$5,909,000	$5,909,000

Summary_of_Tax_Effects_of_Each

Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss) (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Before-Tax
Foreign currency translation, before tax	($14,873)	$3,043	($31,735)	$5,594
Pension liability adjustment, before tax	-1,072	691	-1,072	691
Cash flow hedges, before tax	-15,253	-62	-16,683	5,419
Other comprehensive income (loss), before tax	-31,198	3,672	-49,490	11,704
Tax
Foreign currency translation, tax	0	0	0	0
Pension liability adjustment, tax	371	-241	371	-241
Cash flow hedges, tax	5,715	-32	6,225	-1,809
Other comprehensive income (loss), tax	6,086	-273	6,596	-2,050
Net-of-tax
Foreign currency translation, net-of-tax	-14,873	3,043	-31,735	5,594
Pension liability adjustment, net-of-tax	-701	450	-701	450
Cash flow hedges, net-of-tax	-9,538	-94	-10,458	3,610
Other comprehensive income (loss), net-of-tax	($25,112)	$3,399	($42,894)	$9,654

Summary_of_Changes_in_Total_Eq

Summary of Changes in Total Equity, Shareholders' Equity Attributable to Controlling Interest, and Equity Attributable to Noncontrolling Interest (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Beginning Balance			$944,882
Net earnings	-23,245	44,211	57,030	128,904
Other comprehensive loss	-25,112	3,399	-42,894	9,654
Common shares issued, net of withholding tax			1,627
Common shares in NQ plans			14,323
Stock-based compensation			21,344
Purchases and retirement of common shares			-98,285
Cash dividends declared			-36,560
Acquisition of dHybrid Systems, LLC			4,082
Payments to noncontrolling interest			-13,876
Ending Balance	851,673		851,673
Additional Paid-in Capital
Beginning Balance			262,610
Common shares issued, net of withholding tax			1,627
Common shares in NQ plans			14,323
Stock-based compensation			21,344
Purchases and retirement of common shares			-13,007
Ending Balance	286,897		286,897
Cumulative Other Comprehensive Income (Loss), Net of Tax
Beginning Balance			-3,581
Other comprehensive loss			-40,441
Ending Balance	-44,022		-44,022
Retained Earnings
Beginning Balance			591,783
Net earnings			47,920
Purchases and retirement of common shares			-85,278
Cash dividends declared			-36,560
Ending Balance	517,865		517,865
Parent
Beginning Balance			850,812
Net earnings			47,920
Other comprehensive loss			-40,441
Common shares issued, net of withholding tax			1,627
Common shares in NQ plans			14,323
Stock-based compensation			21,344
Purchases and retirement of common shares			-98,285
Cash dividends declared			-36,560
Ending Balance	760,740		760,740
Noncontrolling Interest
Beginning Balance			94,070
Net earnings			9,110
Other comprehensive loss			-2,453
Acquisition of dHybrid Systems, LLC			4,082
Payments to noncontrolling interest			-13,876
Ending Balance	$90,933		$90,933

Components_of_Changes_in_Other

Components of Changes in Other Comprehensive Loss (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015		Feb. 28, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, beginning balance			($3,581)
Other comprehensive loss before reclassifications			-50,095
Reclassification adjustments to income			3,058	[1]
Income taxes	6,086	-273	6,596		-2,050
Accumulated other comprehensive loss, ending balance	-44,022		-44,022
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, beginning balance			11,015
Other comprehensive loss before reclassifications			-29,281
Accumulated other comprehensive loss, ending balance	-18,266		-18,266
Pension Liability Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, beginning balance			-11,265
Other comprehensive loss before reclassifications			-1,072
Income taxes			371
Accumulated other comprehensive loss, ending balance	-11,966		-11,966
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, beginning balance			-3,331
Other comprehensive loss before reclassifications			-19,742
Reclassification adjustments to income			3,058	[1]
Income taxes			6,225
Accumulated other comprehensive loss, ending balance	($13,790)		($13,790)
[1]	The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in "NOTE P - Derivative Instruments and Hedging Activities."

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted	96,200
Non-qualified stock option, per share price	$43.04
Non-qualified stock option, fair value, per share price	$17.96
Pre-tax stock-based compensation	$1,538,000
Pre-tax stock-based compensation, period of recognition	3 years
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
Performance share awards granted	237,815
Restricted common shares, fair value per share	$40.18
Pre-tax stock-based compensation	8,596,000
Market-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share awards granted	50,000
Restricted common shares, fair value per share	$32.06
Pre-tax stock-based compensation	1,603,000
Number of employees who received restricted common shares	2
Common share awards vesting, minimum price per share	$60
Common share awards vesting, minimum consecutive days at stated price	30 days
Service-based vesting condition period, years	5 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	3 years
Performance share awards granted	61,500
Pre-tax stock-based compensation	$2,627,000

Assumptions_To_Value_Stock_Opt

Assumptions To Value Stock Options (Detail)	9 Months Ended
	Feb. 28, 2015
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.88%
Expected volatility	50.92%
Risk-free interest rate	1.88%
Expected term (years)	6 years
Market-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.60%
Expected volatility	44.00%
Risk-free interest rate	1.70%

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail)	9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income Taxes [Line Items]
Estimated annual effective income tax rate	30.90%	27.30%

Computation_of_Basic_and_Dilut

Computation of Basic and Diluted Earnings (Loss) per Share Attributable to Controlling Interest (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Numerator (basic & diluted):
Net earnings (loss) attributable to controlling interest - income (loss) available to common shareholders	($25,710)	$40,603	$47,920	$118,137
Denominator:
Denominator for basic earnings (loss) per share attributable to controlling interest - weighted average common shares	66,359	68,895	67,013	69,268
Effect of dilutive securities		2,633	2,288	2,642
Denominator for diluted earnings (loss) per share attributable to controlling interest - adjusted weighted average common shares	66,359	71,528	69,301	71,910
Basic earnings (loss) per share attributable to controlling interest	($0.39)	$0.59	$0.72	$1.71
Diluted earnings (loss) per share attributable to controlling interest	($0.39)	$0.57	$0.69	$1.64

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options and restricted common shares excluded from computation of diluted earnings (loss) per share	1,924,019	9,922	122,721	8,048

Financial_Information_for_Repo

Financial Information for Reportable Segments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014	31-May-14
Segment Reporting Information [Line Items]
Net sales	$804,785	$773,230	$2,538,211	$2,235,421
Operating income (loss)	-52,050	45,289	33,344	103,426
Impairment of goodwill and long-lived assets	81,600		97,785	35,375
Restructuring and other expense (income)	2,093	1,398	2,491	-3,781
Joint venture transactions	84	120	274	1,048
Total assets	2,221,401		2,221,401		2,296,381
Steel Processing
Segment Reporting Information [Line Items]
Net sales	500,703	477,983	1,605,790	1,372,558
Operating income (loss)	16,406	28,264	86,152	85,713
Impairment of goodwill and long-lived assets			3,050	4,641
Restructuring and other expense (income)	-28	1,380	-58	-3,382
Total assets	927,717		927,717		850,748
Pressure Cylinders
Segment Reporting Information [Line Items]
Net sales	248,086	233,290	749,789	664,212
Operating income (loss)	18,611	21,278	47,797	49,007
Impairment of goodwill and long-lived assets			9,567	11,634
Restructuring and other expense (income)	2,498	412	2,926	-1,035
Total assets	851,279		851,279		818,720
Engineered Cabs
Segment Reporting Information [Line Items]
Net sales	45,390	51,485	146,484	147,814
Operating income (loss)	-85,780	-1,088	-93,534	-22,284
Impairment of goodwill and long-lived assets	81,600		83,989	19,100
Restructuring and other expense (income)	-313		-313
Total assets	93,597		93,597		181,251
Other
Segment Reporting Information [Line Items]
Net sales	10,606	10,472	36,148	50,837
Operating income (loss)	-1,287	-3,165	-7,071	-9,010
Impairment of goodwill and long-lived assets			1,179
Restructuring and other expense (income)	-64	-394	-64	636
Joint venture transactions	84	120	274	1,048
Total assets	$348,808		$348,808		$445,662

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015
Rome Strip Steel
Business Acquisition [Line Items]
Total consideration for acquired entity	$54,495,000
Business acquisition, date of acquisition agreement	16-Jan-15
Cash consideration for acquired entity	55,312,000
Estimated working capital deficit	817,000
DHybrid Systems Llc
Business Acquisition [Line Items]
Total consideration for acquired entity	15,918,000
Business acquisition, date of acquisition agreement	20-Oct-14
Cash consideration for acquired entity	11,939,000
Percentage of additional interest acquired by the company	79.59%
Percentage of interest attributable to non-controlling interest	20.41%
Contingent consideration estimated fair value	3,979,000
Contingent consideration to be paid upon achievement of net sales and gross margin thresholds	3,979,000
Cumulative net sales threshold beginning January 1, 2013	20,000,000
Gross margin threshold	50.00%
MEF
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	1-Aug-14
Cash consideration for acquired entity	38,441,000
Acquisition related costs	273,000
JRE
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	31-Jul-14
Cash consideration for acquired entity	$1,571,000

Schedule_of_Acquisition_of_Int

Schedule of Acquisition of Intangible Assets (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015
Rome Strip Steel
Business Acquisition [Line Items]
Total acquired identifiable intangible assets	$5,500
Rome Strip Steel | Customer relationships
Business Acquisition [Line Items]
Acquired finite lived intangible assets	4,300
Useful Life (Years	10 years
Rome Strip Steel | Non-compete agreements
Business Acquisition [Line Items]
Acquired finite lived intangible assets	1,200
Useful Life (Years	5 years
DHybrid Systems Llc
Business Acquisition [Line Items]
Total acquired identifiable intangible assets	3,788
DHybrid Systems Llc | Technological know-how
Business Acquisition [Line Items]
Acquired finite lived intangible assets	3,100
Useful Life (Years	10 years
DHybrid Systems Llc | Customer relationships
Business Acquisition [Line Items]
Acquired finite lived intangible assets	600
Useful Life (Years	7 years
DHybrid Systems Llc | Backlog
Business Acquisition [Line Items]
Acquired finite lived intangible assets	88
DHybrid Systems Llc | Backlog | Maximum
Business Acquisition [Line Items]
Useful Life (Years	1 year
MEF
Business Acquisition [Line Items]
Total acquired identifiable intangible assets	13,600
MEF | Technological know-how
Business Acquisition [Line Items]
Acquired finite lived intangible assets	5,100
Useful Life (Years	10 years
MEF | Customer relationships
Business Acquisition [Line Items]
Acquired finite lived intangible assets	4,300
Useful Life (Years	7 years
MEF | Non-compete agreements
Business Acquisition [Line Items]
Acquired finite lived intangible assets	2,400
Useful Life (Years	4 years
MEF | Backlog
Business Acquisition [Line Items]
Acquired finite lived intangible assets	$1,800
MEF | Backlog | Maximum
Business Acquisition [Line Items]
Useful Life (Years	1 year

Schedule_of_Consideration_Tran

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	31-May-14
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Goodwill	$240,738	$251,093
Rome Strip Steel
Consideration Transferred:
Cash consideration	55,312
Total consideration	54,495
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash	10
Accounts receivable	6,333
Inventories	17,063
Prepaid expenses	41
Intangible assets	5,500
Property, plant and equipment	22,775
Total identifiable assets	51,722
Accounts payable	-3,091
Accrued liabilities	-410
Other liabilities	-313
Net assets	47,908
Goodwill	6,587
Purchase price	54,495
Plus: estimated working capital deficit	817
Cash paid at closing	55,312
DHybrid Systems Llc
Consideration Transferred:
Cash consideration	11,939
Fair value of contingent consideration	3,979
Total consideration	15,918
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash	795
Accounts receivable	1,459
Inventories	3,300
Prepaid expenses	38
Intangible assets	3,788
Property, plant and equipment	396
Total identifiable assets	9,776
Accounts payable	-1,163
Accrued liabilities	-160
Long-term debt	-5,000
Net assets	3,453
Goodwill	16,547
Cash consideration	20,000
Purchase price	15,918
Noncontrolling interest	-4,082
Total consideration, less noncontrolling interest	15,918
Cash paid at closing	11,939
MEF
Consideration Transferred:
Cash consideration	38,441
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Accounts receivable	3,329
Inventories	3,550
Intangible assets	13,600
Property, plant and equipment	166
Total identifiable assets	20,645
Accounts payable	-555
Accrued liabilities	-92
Deferred revenue	-4,808
Net assets	15,190
Goodwill	23,251
Cash consideration	38,441
Cash paid at closing	38,441
JRE
Consideration Transferred:
Cash consideration	1,571
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash	253
Accounts receivable	509
Inventories	2,793
Prepaid expenses	40
Property, plant and equipment	250
Total identifiable assets	3,845
Accounts payable	-514
Accrued liabilities	-2,160
Net assets	1,171
Goodwill	400
Cash consideration	1,571
Cash paid at closing	$1,571

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Feb. 28, 2015	31-May-14
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total cash collateral	$6,300,000
Impact to fair value of derivative assets and liabilities as a result of recognition on a net basis	345,000	730,000
Losses in accumulated other comprehensive income expected to be reclassified into net earnings	11,742,000
Losses in accumulated other comprehensive income expected to be reclassified into net earnings, tax	$6,982,000

Schedule_of_Fair_Value_of_Deri

Schedule of Fair Value of Derivative Instruments (Detail) (USD $)	Feb. 28, 2015	31-May-14
In Thousands, unless otherwise specified
Derivative [Line Items]
Asset Derivatives at Fair Value	$511	$1,284
Liability Derivatives at Fair Value	24,878	4,475
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	438	456
Liability Derivatives at Fair Value	18,866	4,180
Derivatives Designated As Hedging Instruments | Interest Rate Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	246	4,180
Derivatives Designated As Hedging Instruments | Foreign Exchange Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	438
Derivatives Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	18,207
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	413
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value		456
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	73	828
Liability Derivatives at Fair Value	6,012	295
Derivatives Not Designated As Hedging Instruments | Foreign Exchange Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value		32
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	5,422	295
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	590
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	$73	$796

Schedule_of_Summary_of_Derivat

Schedule of Summary of Derivative Hedges (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	95,228
Cash Flow Hedges | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date	2015-03
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date	2016-06
Cash Flow Hedges | Interest Rate Contracts
Derivative [Line Items]
Notional Amount	17,131
Maturity Date	2019-09
Cash Flow Hedges | Foreign Currency Contracts
Derivative [Line Items]
Notional Amount	3,810
Cash Flow Hedges | Foreign Currency Contracts | Minimum
Derivative [Line Items]
Maturity Date	2015-03
Cash Flow Hedges | Foreign Currency Contracts | Maximum
Derivative [Line Items]
Maturity Date	2015-06
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Notional Amount	50,973
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date	2015-03
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date	2016-02

Schedule_of_Derivatives_Design

Schedule of Derivatives Designated as Cash Flow Hedging Instruments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Derivative [Line Items]
Income (Loss) Recognized in OCI (Effective Portion)	($14,864)	($3,640)	($19,742)	($1,407)
Income (Loss) Reclassified from Accumulated OCI (Effective Portion)	379	-3,578	-3,058	-6,826
Income (Loss) (Ineffective Portion) Excluded from Effectiveness Testing			0	0
Interest Rate Contracts
Derivative [Line Items]
Income (Loss) Recognized in OCI (Effective Portion)		4		-380
Interest Rate Contracts | Interest Expense
Derivative [Line Items]
Income (Loss) Reclassified from Accumulated OCI (Effective Portion)	-160	-1,059	-2,445	-3,179
Income (Loss) (Ineffective Portion) Excluded from Effectiveness Testing			0	0
Commodity Contracts
Derivative [Line Items]
Income (Loss) Recognized in OCI (Effective Portion)	-15,178	-3,644	-19,953	-1,027
Commodity Contracts | Cost Of Goods Sold
Derivative [Line Items]
Income (Loss) Reclassified from Accumulated OCI (Effective Portion)	539	-2,519	-613	-3,647
Income (Loss) (Ineffective Portion) Excluded from Effectiveness Testing			0	0
Foreign Currency Contracts
Derivative [Line Items]
Income (Loss) Recognized in OCI (Effective Portion)	314		211
Foreign Currency Contracts | Miscellaneous Income (Expense)
Derivative [Line Items]
Income (Loss) (Ineffective Portion) Excluded from Effectiveness Testing			$0

Schedule_of_Gain_Loss_Recogniz

Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	($4,105)	($1,446)	($6,479)	($1,169)
Commodity Contracts | Cost Of Goods Sold
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	-4,105	-1,241	-6,522	-959
Foreign Currency Contracts | Miscellaneous Income (Expense)
Derivative [Line Items]
Gain (Loss) Recognized in Earnings		($205)	$43	($210)

Schedule_of_Financial_Assets_A

Schedule of Financial Assets And Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Feb. 28, 2015		31-May-14
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$511		$1,284
Liabilities	28,857		4,879
Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	511	[1]	1,284	[1]
Liabilities	24,878	[1]	4,475	[1]
Contingent consideration obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	3,979	[2]	404	[2]
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	511		1,284
Liabilities	24,878		4,475
Significant Other Observable Inputs (Level 2) | Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	511	[1]	1,284	[1]
Liabilities	24,878	[1]	4,475	[1]
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	3,979		404
Significant Unobservable Inputs (Level 3) | Contingent consideration obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$3,979	[2]	$404	[2]
[1]	The fair value of our derivative contracts 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 P - Derivative Instruments and Hedging Activities" for additional information regarding our use of derivative instruments.
[2]	The fair value of the Company's contingent consideration obligations is determined using a probability weighted cash flow approach based on management's projections of future cash flows of the acquired businesses. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.

Assets_Measured_at_Fair_Value_

Assets Measured at Fair Value on Non-recurring Basis (Detail) (USD $)	Feb. 28, 2015		31-May-14
In Thousands, unless otherwise specified
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	$11,803		$32,074
Long-lived Assets Held and Used
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	11,803	[1]	7,034	[2]
Long-lived Assets Held For Sale
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis			25,040	[3]
Significant Other Observable Inputs (Level 2)
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis			32,074
Significant Other Observable Inputs (Level 2) | Long-lived Assets Held and Used
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis			7,034	[2]
Significant Other Observable Inputs (Level 2) | Long-lived Assets Held For Sale
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis			25,040	[3]
Significant Unobservable Inputs (Level 3)
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	11,803
Significant Unobservable Inputs (Level 3) | Long-lived Assets Held and Used
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	$11,803	[1]
[1]	During the third quarter of fiscal 2015, the Company concluded that an interim impairment test of the goodwill of its Engineered Cabs operating segment was necessary. Prior to conducting the goodwill impairment test, the Company first evaluated the other long-lived assets of the Engineered Cabs operating segment for recoverability. Recoverability was tested using future cash flow projections based on management's long-range estimates of market conditions. The sum of the undiscounted future cash flows for the customer relationship intangible asset and the property, plant and equipment of the Florence facility were less than their respective carrying values. As a result, these assets were written down to their respective fair values of $2,000,000 and $9,803,000, resulting in impairment charges of $22,356,000 for the customer relationship intangible asset and $14,311,000 for the property, plant and equipment of the Florence asset group during the third quarter of fiscal 2015. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
[2]	During the fourth quarter of fiscal 2014, we determined that indicators of impairment were present at the Company's aluminum high-pressure cylinder business in New Albany, Mississippi, due to current and projected operating losses. Recoverability of the identified asset group was tested using future cash flow projections based on management's long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value of $7,034,000, resulting in an impairment charge of $1,412,000 within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.
[3]	During the fourth quarter of fiscal 2014, management committed to a plan to sell the Company's 60%-owned consolidated joint venture in India, Worthington Nitin Cylinders. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $5,925,000, was lower than its net book value, an impairment charge of $18,959,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings. The portion of this impairment loss attributable to the noncontrolling interest, or $7,583,000, was recorded within net earnings attributable to noncontrolling interest in our fiscal 2014 consolidated statement of earnings. During the fourth quarter of fiscal 2014, management committed to plans to sell certain non-core Steel Processing assets. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair value less costs to sell. As the fair value of the asset group, or $19,115,000, was lower than its net book value, an impairment charge of $7,141,000 was recognized within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.

Assets_Measured_at_Fair_Value_1

Assets Measured at Fair Value on Non-recurring Basis (Parenthetical) (Detail) (USD $)	3 Months Ended		9 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015		Feb. 28, 2015		Feb. 28, 2014	31-May-14		Nov. 30, 2014
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	$11,803		$11,803			$32,074
Impairment of long-lived assets	81,600		97,785		35,375
Worthington Nitin Cylinders
Fair Value [Line Items]
Impairment of long-lived assets						18,959
Worthington Nitin Cylinders | Joint Venture Transactions
Fair Value [Line Items]
Impairment of long-lived assets								6,346
Ownership interest in joint venture	60.00%		60.00%			60.00%
Engineered Cabs
Fair Value [Line Items]
Impairment of long-lived assets								2,389
Customer relationships | Engineered Cabs
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	2,000		2,000
Impairment of long-lived assets	22,356
Noncontrolling Interest | Worthington Nitin Cylinders
Fair Value [Line Items]
Impairment of long-lived assets						7,583
Zhejiang Nisshin Worthington Precision Specialty Steel Co
Fair Value [Line Items]
Impairment of long-lived assets						7,141
Global Group
Fair Value [Line Items]
Impairment of long-lived assets						1,412
Florence Facility | Engineered Cabs
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	9,803		9,803
Impairment of long-lived assets	14,311
Long-lived Assets Held and Used
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis	11,803	[1]	11,803	[1]		7,034	[2]
Long-lived Assets Held and Used | Worthington Nitin Cylinders
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis						5,925
Long-lived Assets Held and Used | Zhejiang Nisshin Worthington Precision Specialty Steel Co
Fair Value [Line Items]
Net asset						19,115
Long-lived Assets Held and Used | Global Group
Fair Value [Line Items]
Asset measured at fair value on nonrecurring basis						$7,034
[1]	During the third quarter of fiscal 2015, the Company concluded that an interim impairment test of the goodwill of its Engineered Cabs operating segment was necessary. Prior to conducting the goodwill impairment test, the Company first evaluated the other long-lived assets of the Engineered Cabs operating segment for recoverability. Recoverability was tested using future cash flow projections based on management's long-range estimates of market conditions. The sum of the undiscounted future cash flows for the customer relationship intangible asset and the property, plant and equipment of the Florence facility were less than their respective carrying values. As a result, these assets were written down to their respective fair values of $2,000,000 and $9,803,000, resulting in impairment charges of $22,356,000 for the customer relationship intangible asset and $14,311,000 for the property, plant and equipment of the Florence asset group during the third quarter of fiscal 2015. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements.
[2]	During the fourth quarter of fiscal 2014, we determined that indicators of impairment were present at the Company's aluminum high-pressure cylinder business in New Albany, Mississippi, due to current and projected operating losses. Recoverability of the identified asset group was tested using future cash flow projections based on management's long-range estimates of market conditions. The sum of these undiscounted future cash flows was less than the net book value of the asset group. In accordance with the applicable accounting guidance, the net assets were written down to their fair value of $7,034,000, resulting in an impairment charge of $1,412,000 within impairment of long-lived assets in our fiscal 2014 consolidated statement of earnings.

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Feb. 28, 2015	31-May-14
Fair Value Measurement [Line Items]
Long-term debt at fair value including current maturities	$624,142,000	$674,488,000
Long-term debt at carrying amount including current maturities	$576,803,000	$655,963,000