Worthington Industries (WOR) 10-Q 9 Jan 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Nov. 30, 2019	Dec. 31, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON INDUSTRIES INC
Entity Central Index Key	0000108516
Current Fiscal Year End Date	--05-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	OH
Entity Shell Company	false
Entity File Number	001-08399
Entity Tax Identification Number	31-1189815
Entity Address, Address Line One	200 Old Wilson Bridge Road
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43085
City Area Code	614
Local Phone Number	438-3210
Entity Common Stock, Shares Outstanding		56,067,068
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2019	May 31, 2019
Current assets:
Cash and cash equivalents	$ 72,260	$ 92,363
Receivables, less allowances of $1,407 and $1,150 at November 30, 2019 and May 31, 2019, respectively	477,228	501,944
Inventories:
Raw materials	190,310	268,607
Work in process	82,400	113,848
Finished products	107,077	101,825
Total inventories	379,787	484,280
Income taxes receivable	12,557	10,894
Assets held for sale	1,731	6,924
Prepaid expenses and other current assets	67,083	69,508
Total current assets	1,010,646	1,165,913
Investments in unconsolidated affiliates	225,791	214,930
Operating lease assets	37,864
Goodwill	341,850	334,607
Other intangible assets, net of accumulated amortization of $92,889 and $87,759 at November 30, 2019 and May 31, 2019, respectively	190,703	196,059
Other assets	33,612	20,623
Property, plant and equipment:
Land	23,028	23,996
Buildings and improvements	301,713	310,112
Machinery and equipment	1,043,314	1,049,068
Construction in progress	58,039	49,423
Total property, plant and equipment	1,426,094	1,432,599
Less: accumulated depreciation	857,599	853,935
Total property, plant and equipment, net	568,495	578,664
Total assets	2,408,961	2,510,796
Current liabilities:
Accounts payable	330,959	393,517
Accrued compensation, contributions to employee benefit plans and related taxes	62,932	78,155
Dividends payable	14,364	14,431
Other accrued items	54,102	59,810
Current operating lease liabilities	11,201
Income taxes payable	33	1,164
Current maturities of long-term debt	272	150,943
Total current liabilities	473,863	698,020
Other liabilities	72,639	69,976
Distributions in excess of investment in unconsolidated affiliate	97,243	121,948
Long-term debt	698,531	598,356
Noncurrent operating lease liabilities	30,065
Deferred income taxes, net	77,877	74,102
Total liabilities	1,450,218	1,562,402
Shareholders' equity - controlling interest	835,891	831,246
Noncontrolling interests	122,852	117,148
Total equity	958,743	948,394
Total liabilities and equity	$ 2,408,961	$ 2,510,796

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2019	May 31, 2019
Statement Of Financial Position [Abstract]
Receivables, allowances	$ 1,407	$ 1,150
Other intangible assets, accumulated amortization	$ 92,889	$ 87,759

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Income Statement [Abstract]
Net sales	$ 827,637	$ 958,226	$ 1,683,496	$ 1,946,333
Cost of goods sold	707,026	837,292	1,445,594	1,682,402
Gross margin	120,611	120,934	237,902	263,931
Selling, general and administrative expense	88,543	84,668	179,366	175,309
Impairment of long-lived assets	0	0	40,601	2,381
Restructuring and other expense (income), net	(50)	402	405	(534)
Operating income	32,118	35,864	17,530	86,775
Other income (expense):
Miscellaneous income, net	636	1,432	1,331	1,697
Interest expense	(7,315)	(9,472)	(16,795)	(19,200)
Loss on extinguishment of debt	0	0	(4,034)	0
Equity in net income of unconsolidated affiliates	47,346	21,087	72,113	51,095
Earnings before income taxes	72,785	48,911	70,145	120,367
Income tax expense	15,863	11,119	15,678	25,617
Net earnings	56,922	37,792	54,467	94,750
Net earnings attributable to noncontrolling interests	4,836	3,790	7,157	5,806
Net earnings attributable to controlling interest	$ 52,086	$ 34,002	$ 47,310	$ 88,944
Basic
Average common shares outstanding	55,059	57,716	55,150	58,226
Earnings per share attributable to controlling interest	$ 0.95	$ 0.59	$ 0.86	$ 1.53
Diluted
Average common shares outstanding	56,072	59,338	56,205	60,013
Earnings per share attributable to controlling interest	$ 0.93	$ 0.57	$ 0.84	$ 1.48
Common shares outstanding at end of period	55,094	56,957	55,094	56,957
Cash dividends declared per share	$ 0.24	$ 0.23	$ 0.48	$ 0.46

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 56,922	$ 37,792	$ 54,467	$ 94,750
Other comprehensive income (loss):
Foreign currency translation	6,662	(6,638)	11,444	(10,333)
Pension liability adjustment, net of tax	95		1,108	(97)
Cash flow hedges, net of tax	3,213	(4,662)	574	(6,632)
Other comprehensive income (loss)	9,970	(11,300)	13,126	(17,062)
Comprehensive income	66,892	26,492	67,593	77,688
Comprehensive income attributable to noncontrolling interests	4,836	3,735	7,157	5,734
Comprehensive income attributable to controlling interest	$ 62,056	$ 22,757	$ 60,436	$ 71,954

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Operating activities:
Net earnings	$ 56,922	$ 37,792	$ 54,467	$ 94,750
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	22,596	23,525	46,773	48,018
Impairment of long-lived assets	0	0	40,601	2,381
Provision for deferred income taxes	6,843	3,289	3,345	22,223
Bad debt expense	143	32	311	253
Equity in net income of unconsolidated affiliates, net of distributions	(19,879)	14,182	(14,797)	4,163
Net (gain) loss on sale of assets	(17)	(312)	601	2,403
Stock-based compensation	3,280	3,456	7,275	6,612
Loss on extinguishment of debt	0	0	4,034	0
Changes in assets and liabilities, net of impact of acquisitions:
Receivables	(5,456)	40,838	9,525	54,247
Inventories	43,601	5,866	87,883	(37,471)
Accounts payable	(20,743)	(72,974)	(57,977)	(70,160)
Accrued compensation and employee benefits	9,619	3,556	(13,596)	(27,378)
Other operating items, net	7,251	(14,546)	84	(24,892)
Net cash provided by operating activities	104,160	44,704	168,529	75,149
Investing activities:
Investment in property, plant and equipment	(28,381)	(21,741)	(50,555)	(41,175)
Acquisitions	(29,283)		(29,283)
Distributions from unconsolidated affiliate		55,201		55,201
Proceeds from sale of assets	23	170	9,199	20,447
Net cash provided (used) by investing activities	(57,641)	33,630	(70,639)	34,473
Financing activities:
Proceeds from long-term debt, net of issuance costs	(134)		101,464
Principal payments on long-term obligations and debt redemption costs	(490)	(371)	(154,467)	(801)
Payments for issuance of common shares, net of tax withholdings	(3,811)	(658)	(7,024)	(4,749)
Payments to noncontrolling interests	(1,453)	(4,007)	(1,453)	(6,327)
Repurchase of common shares		(63,581)	(29,599)	(100,433)
Dividends paid	(13,954)	(13,533)	(26,914)	(26,252)
Net cash used by financing activities	(19,842)	(82,150)	(117,993)	(138,562)
Increase (decrease) in cash and cash equivalents	26,677	(3,816)	(20,103)	(28,940)
Cash and cash equivalents at beginning of period	45,583	96,843	92,363	121,967
Cash and cash equivalents at end of period	$ 72,260	$ 93,027	$ 72,260	$ 93,027

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	NOTE A – Basis of Presentation The unaudited consolidated financial statements include the accounts of Worthington Industries, Inc. and consolidated subsidiaries (collectively, “we,” “our,” “Worthington,” or the “Company”). They have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. At November 30, 2019, the Company owned controlling interests in the following three joint ventures: Spartan Steel Coating, LLC (“Spartan”) (52%), TWB Company, L.L.C. (“TWB”) (55%), and Worthington Specialty Processing (“WSP”) (51%). These joint ventures are consolidated in the Company’s financial statement, and the equity owned by the other joint venture members shown as noncontrolling interests in our consolidated balance sheets, and their portions of net earnings and other comprehensive income (“OCI”) shown as net earnings or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. Investments in unconsolidated affiliates are accounted for using the equity method. See further discussion on unconsolidated affiliates in “NOTE C – Investments in Unconsolidated Affiliates”. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. 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 consolidated financial statements for these interim periods, have been included and significant intercompany accounts and transactions have been eliminated Operating results for the three and six months ended November 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2020 (“fiscal 2020”). 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, 2019 (“fiscal 2019”) of Worthington Industries, Inc. (the “2019 Form 10-K”). Deconsolidation of Engineered Cabs: On November 1, 2019, we reached an agreement with an affiliate of Angeles Equity Partners, LLC to contribute substantially all of the net assets of the Company’s Engineered Cabs business to a newly-formed joint venture, Taxi Workhorse Holdings, LLC (the “Cabs joint venture”), in which the Company retained a 20% noncontrolling interest. Immediately following the contribution, the Cabs joint venture acquired the net assets of Crenlo Cab Products, LLC (“Crenlo”), to better position the combined business to drive growth and generate value. The investment in the Cabs joint venture is accounted for under the equity method, due to lack of control as more fully described in “NOTE C – Investments in Unconsolidated Affiliates”. The Company’s contribution to the Cabs joint venture consisted of the net assets of its two primary manufacturing facilities located in Greeneville, Tennessee and Watertown, South Dakota. In anticipation of the transaction for substantially all the net assets of the Engineered Cabs business, an impairment charge of $35,194,000 was recognized when the disposal group met the criteria as assets held for sale as of August 31, 2019. Certain non-core assets of the Engineered Cabs business, including the fabricated products facility in Stow, Ohio, and the steel packaging facility in Greensburg, Indiana, were retained. The Company is in the process of evaluating strategic alternatives for the retained assets. Refer to “NOTE E – Impairment of Long-Lived Assets” for additional information. On November 1, 2019, the closing date, the contributed net assets were deconsolidated, resulting in a one-time net gain of $50,000 within restructuring and other expense (income), net in our consolidated statements of earnings for the three months ended November 30, 2019, as summarized below. (in thousands) Retained investment (at fair value) $ 13,623 Contributed net assets (at carrying value) 13,394 Gain on deconsolidation 229 Less: deal costs (179 ) Net gain on deconsolidation $ 50 In accordance with the applicable accounting guidance, our minority ownership interest in the Cabs joint venture was recorded at fair value as of the closing date. The Company’s estimate of fair value was based on a preliminary valuation of the net assets of the Cabs joint venture. For additional information regarding the fair value of our minority ownership interest in the Cabs joint venture , refer to “ NOTE R – Fair Value”. Recently Adopted Accounting Standards On June 1, 2019, the Company adopted Accounting Standards Update 2016-02, Leases On June 1, 2019, the Company adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“Topic 815”) , which amended the existing hedge accounting guidance . The ASU is intended to simplify and clarify the accounting and disclosure requirements for hedging activities by more closely aligning the results of cash flow and fair value hedge accounting with the underlying risk management activities. The adoption of the standard had no current or historical impact on Recently Issued Accounting Standards In June 2016, amended accounting guidance was issued related to the measurement of credit losses on financial instruments. The amended accounting guidance changes the impairment model for most financial assets to require measurement and recognition of expected credit losses for financial assets held. The amended accounting guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are in the process of evaluating the effect this amended accounting guidance will have on our consolidated Reclassification Certain prior period amounts have been reclassified within the operating section of the consolidated statements of cash flows for consistency with the current period presentation.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Nov. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	NOTE B – Revenue Recognition The following tables summarize net sales by product class for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2019 2018 2019 2018 Reportable segments by product class: Steel Processing Direct $ 481,058 $ 602,010 $ 974,704 $ 1,228,872 Toll 35,879 33,033 65,608 66,658 Total $ 516,937 $ 635,043 $ 1,040,312 $ 1,295,530 Pressure Cylinders Industrial products $ 130,334 $ 152,018 $ 282,952 $ 304,865 Consumer products 128,065 117,194 247,545 234,017 Oil & gas equipment 31,737 25,235 64,035 55,918 Total $ 290,136 $ 294,447 $ 594,532 $ 594,800 Other Engineered Cabs $ 20,550 $ 28,729 $ 48,616 $ 55,981 Other 14 7 36 22 Total $ 20,564 $ 28,736 $ 48,652 $ 56,003 Total $ 827,637 $ 958,226 $ 1,683,496 $ 1,946,333 We recognize revenue at a point in time, with the exception of the toll processing revenue stream and certain contracts within the oil & gas equipment revenue stream, which are recognized over time. The following table summarizes the over time revenue for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2019 2018 2019 2018 Steel Processing - toll $ 35,879 $ 33,033 $ 65,608 $ 66,658 Pressure Cylinders - certain oil & gas contracts 27,531 17,482 57,539 28,801 Total over time revenue $ 63,410 $ 50,515 $ 123,147 $ 95,459 The following table summarizes the unbilled receivables and contract assets for the periods indicated: (in thousands) Balance Sheet Classification November 30, 2019 May 31, 2019 Unbilled receivables Receivables $ 5,538 $ 5,366 Contract assets Prepaid and other current assets $ 8,460 $ 8,792

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Nov. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	NOTE C – Investments in Unconsolidated Affiliates Investments in affiliated companies that we do not control, either through majority ownership or otherwise, are accounted for using the equity method. At November 30, 2019, the Company held investments in the following affiliated companies: 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 Worthington”) (50%), Worthington Armstrong Venture (“WAVE”) (50%), Zhejiang Nisshin Worthington Precision Specialty Steel Co., Ltd. (“Nisshin”) (10%) and the Cabs joint venture (20%). During the first quarter of fiscal 2020, the Company began the process of exploring the potential exit of its interest in the Nisshin joint venture in China. As a result, the Company evaluated its investment for potential impairment. The Company concluded the remaining book value of the investment was fully impaired, resulting in an impairment charge of $4,236,000 within equity income during the three months ended August 31, 2019. On December 19, 2019, the Company finalized an agreement to transfer the risks and rewards related to its 10% interest to the other joint venture partners. As a result, the Company has no further rights or obligations as it relates to the Nisshin joint venture. During the second quarter of fiscal 2020, the Company’s exploration of strategic alternatives relating to its investment in ArtiFlex resulted in the need to evaluate this investment for potential impairment. Based on the analysis performed, the Company concluded its investment was not impaired, as current and projected cash flows were deemed sufficient to recover the remaining book value of $54,566,000. However, it is possible the Company’s estimate of future cash flows could decline to a level that no longer supports the current book value of the investment. Factors which could have an adverse impact on the current cash flow projections, include, but are not limited to deteriorating market conditions as well as potential outcomes that may result from management’s review of strategic alternatives. On November 1, 2019, we reached an agreement with an affiliate of Angeles Equity Partners, LLC to contribute substantially all of the net assets of our Engineered Cabs business to a newly-formed joint venture, in which we retained a 20 facilities located in Greeneville, Tennessee and Watertown, South Dakota. Our investment in the Cabs joint venture is accounted for under the equity method, due to lack of control. We received distributions from unconsolidated affiliates totaling $57,316,000 during the six months ended November 30, 2019. We have received cumulative distributions from WAVE in excess of our investment balance, which resulted in an amount recorded within other liabilities on our consolidated balance sheets of $97,243,000 at November 30, 2019. In accordance with the applicable accounting guidance, we reclassified the negative investment balance 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 the investment balance becomes positive, it will again be shown as an asset on our consolidated balance sheet. If it becomes probable that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will recognize any negative investment balance classified as a liability as income immediately. We use the “cumulative earnings” approach for determining cash flow presentation of distributions from our unconsolidated joint ventures. Distributions received are included in our consolidated statements of cash flows as operating activities, unless the cumulative distributions received, less distributions received in prior periods that were determined to be returns of investment, exceed our portion of the cumulative equity in the net earnings of the joint venture, in which case the excess distributions are deemed to be returns of the investment and are classified as investing activities in our consolidated statements of cash flows. The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented: November 30, May 31, (in thousands) 2019 2019 Cash $ 31,641 $ 37,471 Other current assets 633,772 594,959 Current assets for discontinued operations - 35,793 Noncurrent assets 390,433 360,925 Total assets $ 1,055,846 $ 1,029,148 Current liabilities $ 202,450 $ 236,781 Current liabilities for discontinued operations - 9,610 Short-term borrowings 1,965 15,162 Current maturities of long-term debt 2,582 33,003 Long-term debt 346,223 321,791 Other noncurrent liabilities 42,144 18,192 Equity 460,482 394,609 Total liabilities and equity $ 1,055,846 $ 1,029,148 Three Months Ended November 30, Six Months Ended November 30, (in thousands) 2019 2018 2019 2018 Net sales $ 458,859 $ 480,716 $ 946,134 $ 979,261 Gross margin 97,329 75,515 198,944 179,327 Operating income 63,452 44,592 132,857 116,968 Depreciation and amortization 7,538 6,581 14,627 13,058 Interest expense 3,139 3,382 6,506 6,307 Income tax expense 1,576 3,568 2,578 8,093 Net earnings from continuing operations 104,431 36,523 165,572 101,417 Net earnings (loss) from discontinued operations (3,990 ) 2,028 (1,178 ) 3,712 Net earnings 100,441 38,551 164,394 105,129 The amounts presented within the discontinued operations captions in the tables above reflect the international operations of our WAVE joint venture prior to their sale on September 30, 2019. Upon closing of the transaction, the related net assets were deconsolidated resulting in a pre-tax gain within net earnings from continuing operations of $46,238,000, subject to certain post-closing adjustments. as part of a broader transaction between the joint venture partner, Armstrong World Industries, Inc. (“AWI”), and Knauf Ceilings and Holding GmbH (“Knauf”), a family-owned manufacturer of building materials headquartered in Germany. Our portion of the net gain was $23,119,000 and has been recognized within equity in net income of unconsolidated affiliates .

Leases

Leases	6 Months Ended
	Nov. 30, 2019
Leases [Abstract]
Leases	NOTE D – Leases On June 1, 2019, the Company adopted the new lease accounting standard under U.S. GAAP, Topic 842, which among other things, requires right-of-use (“ROU”) assets and liabilities be recognized upon lease commencement for operating leases based on the present value of lease payments over the lease term. Topic 842 was adopted using the modified retrospective approach as of the effective date of the new standard. As such, comparative financial information for reporting periods beginning prior to June 1, 2019, has not been restated and continues to be reported under the previous accounting standard. As allowed, we elected to carry forward the historical lease classification and to apply the short-term lease measurement and recognition exemption whereby ROU assets and lease liabilities are not recognized for short-term leases. Adoption of the new standard resulted in the recognition of $42,200,000 of net operating lease ROU assets and $43,400,000 of corresponding operating lease liabilities. The net ROU asset includes the effect of reclassifying deferred rent as an offset in accordance with the transition guidance. The impact of the new standard was immaterial to the Company’s results of operations and cash flows. The Company determines if an arrangement is a lease at inception. Operating lease ROU assets include any initial direct costs and prepayments less lease incentives. Lease terms include options to renew or terminate the lease when it is reasonably certain the Company will exercise such options. As most of our leases do not include an implicit rate, we use our collateralized incremental borrowing rate based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of goods sold or selling, general and administrative expense depending on the underlying nature of the leased assets . We lease certain property and equipment from third parties under non-cancellable operating lease agreements. Certain lease agreements provide for payment of property taxes, maintenance and insurance by the Company. Under Topic 842, we elected the practical expedient to account for lease and non-lease components as a single component for all asset classes. Certain leases include variable lease payments based on usage or an index or rate. During the second quarter of fiscal 2020, we entered into a non-cancellable financing lease agreement for land and a building which was paid as part of the cash consideration in connection with the acquisition of certain operating assets of Heidtman Steel Products, Inc. (“Heidtman”). Refer to “NOTE P – Acquisitions” for additional information. In the consolidated balance sheets, the financing leases ROU assets are recorded in other assets and the current and long-term portion of the financing leases ROU liabilities are recorded in other accrued items and other liabilities, respectively. The components of lease expense were as follows: (in thousands) Three Months Ended November 30, 2019 Six Months Ended November 30, 2019 Operating lease expense $ 2,880 $ 6,222 Financing lease expense: Amortization of leased assets 65 110 Interest on lease liabilities 9 19 Total financing lease expense 74 129 Short-term lease expense 590 996 Variable lease expense 150 304 Total lease expense $ 3,694 $ 7,651 During the first quarter of fiscal 2020, ROU assets within the Engineered Cabs operating segment with a book value of $4,843,000 were deemed to be fully impaired and written off. Refer to “NOTE E – Impairment of Long-Lived Assets” for additional information. Other information related to the Company’s leases, as of and for the six-month period ended November 30, 2019, is provided below: (dollars in thousands) Operating Leases Financing Leases Cash paid for amounts included in the measurement of lease liabilities Operating cash flows $ 5,702 $ 19 Financing cash flows $ - $ 173 ROU assets obtained in exchange for lease liabilities $ 3,722 $ 8,028 Weighted-average remaining lease term (in years) 5.45 3.12 Weighted-average discount rate 3.44 % 3.23 % Future minimum lease payments for non-cancelable leases having an initial or remaining term in excess of one year at November 30, 2019, were as follows: (in thousands) Operating Leases Financing Leases Year 1 $ 12,436 $ 384 Year 2 10,312 376 Year 3 8,014 369 Year 4 5,256 53 Year 5 3,265 - Thereafter 6,554 - Total 45,837 1,182 Less: imputed interest (4,571 ) (56 ) Present value of lease liabilities $ 41,266 $ 1,126 As previously disclosed in our 2019 Form 10-K, under the prior accounting guidance, future minimum lease payments for non-cancelable operating leases having an initial or remaining term in excess of one year at May 31, 2019, were as follows: (in thousands) Year 1 $ 10,774 Year 2 8,398 Year 3 5,428 Year 4 4,054 Year 5 2,098 Thereafter 2,637 Total $ 33,389

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	6 Months Ended
	Nov. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of Long-Lived Assets	NOTE E – Impairment of Long-Lived Assets Fiscal 2020

Restructuring and Other Expense

Restructuring and Other Expense (Income), Net	6 Months Ended
	Nov. 30, 2019
Restructuring And Related Activities [Abstract]
Restructuring and Other Expense (Income), Net	NOTE F – Restructuring and Other Expense (Income), Net We consider restructuring activities to be programs whereby we fundamentally change our operations, such as closing and consolidating manufacturing facilities or moving manufacturing of a product to another location. Restructuring activities may also involve substantial realignment of the management structure of a business unit in response to changing market conditions. A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense (income), net financial statement caption, in our consolidated statement of earnings is summarized below for the period presented: Balance, as of Expense Balance, as of (in thousands) May 31, 2019 (income) Payments Adjustments November 30, 2019 Early retirement and severance $ 774 $ - $ (596 ) $ (89 ) $ 89 Facility exit and other costs 2 (26 ) (56 ) 81 1 $ 776 (26 ) $ (652 ) $ (8 ) $ 90 Net loss on sale of assets 431 Restructuring and other expense, net $ 405 During the six months ended November 30, 2019, the following actions were taken related to the Company’s restructuring activities: • In July 2019, the Company completed the sale of its cryogenics business in Turkey, the net assets of which had been previously classified as assets held for sale. In connection with the sale, the Company realized net cash proceeds of $8,295,000 and recognized a net loss of $481,000. • In November 2019, the Company contributed substantially all of the net assets of the Engineered Cabs business to a newly-formed Cabs joint venture. In connection with the transaction, the Company recognized a net gain of $50,000. • In connection with other non-significant restructuring activities, the Company recognized a reduction to facility exit costs of $26,000. The total liability associated with our restructuring activities as of November 30, 2019 is expected to be paid in the next twelve months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	6 Months Ended
	Nov. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	NOTE G – Contingent Liabilities and Commitments Legal Proceedings We are defendants in certain legal actions. In the opinion of management, the outcome of these actions, which is not clearly determinable at the present time, would not significantly affect our consolidated financial position or future results of operations. We also believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations. Voluntary Tank Replacement Program In February 2019, our Structural Composites Industries, LLC subsidiary (“SCI”) agreed to participate in a tank replacement program for specific design sizes of its composite hydrogen fuel tanks, which are integrated into a customer’s hydrogen fuel cells used to fuel material handling equipment, primarily rider pallet jacks in warehouses. A progression of the liabilities recorded in connection with this matter during fiscal 2020 is summarized in the following table: Beginning Ending (in thousands) Balance Expense Payments Balance Tank replacement costs $ 8,500 $ - $ (211 ) $ 8,289 We believe these liabilities are sufficient to absorb our remaining direct costs related to the replacement program, which are expected to be paid in the next nine months. The actual costs incurred by the Company related to this matter may vary from the initial estimate.

Guarantees

Guarantees	6 Months Ended
	Nov. 30, 2019
Guarantees And Product Warranties [Abstract]
Guarantees	NOTE H – Guarantees We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. However, as of November 30, 2019, 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 $6,914,000 at November 30, 2019. Based on current facts and circumstances, we have estimated the likelihood of payment pursuant to this guarantee is not probable and, therefore, no amount has been recognized in our consolidated financial statements. We also had in place $ 12,800,000 of outstanding stand-by letters of credit issued to third-party service providers at November 30, 2019 . No amounts were drawn against these stand-by letters of credit at November 30, 2019 .

Debt and Receivables Securitiza

Debt and Receivables Securitization	6 Months Ended
	Nov. 30, 2019
Debt Disclosure [Abstract]
Debt and Receivables Securitization	NOTE I – Debt and Receivables Securitization On August 23, 2019, two of our European subsidiaries issued a €36,700,000 principal amount unsecured 1.56% Series A Senior Note due August 23, 2031 (the “2031 Note”) and €55,000,000 aggregate principal amount of unsecured 1.90% Series B Senior Notes due August 23, 2034 (the “2034 Notes”), (collectively, the “Senior Notes”). The 2031 Note is to be repaid in the principal amount of €30,000,000, together with accrued interest, on August 23, 2029, with the remaining €6,700,000 principal amount payable on August 23, 2031, together with accrued interest. The 2034 Notes are to be repaid in the aggregate principal amount of €23,300,000, together with accrued interest, on August 23, 2031, with the remaining €31,700,000 aggregate principal amount payable on August 23, 2034, together with accrued interest. Debt issuance costs of $134,000 were incurred in connection with the issuance of the Senior Notes and have been recorded on the consolidated balance sheet within long-term debt as a contra-liability. They will continue to be amortized, through interest expense, in our consolidated statements of earnings over the term of the respective Senior Notes. The unamortized portion of the debt issuance costs was $131,000 at November 30, 2019 The Senior Notes were issued in a private placement and the proceeds thereof were used to redeem $150,000,000 aggregate principal amount of unsecured 6.50% senior notes that were set to mature on April 15, 2020 (the “2020 Notes”). The 2020 Notes were redeemed in full on August 30, 2019. In connection with the early redemption, the Company recognized a loss on extinguishment of debt of $4,034,000, which has been presented separately in our consolidated statements of earnings. We maintain a $500,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders which matures in February 2023. Borrowings under the Credit Facility have maturities of up to one year. We have the option to borrow at rates equal to an applicable margin over the LIBOR, Prime Rate or Overnight Bank Funding Rate. The applicable margin is determined by our credit rating. There were no borrowings outstanding under the Credit Facility at November 30, 2019. As discussed in “ we provided $12,800,000 in stand-by letters of credit for third-party beneficiaries as of November 30, 2019. While not drawn against at November 30, 2019, $450,000 of these letters of credit were issued against availability under the Credit Facility, leaving $499,550,000 available at November 30, 2019. We also maintain a $50,000,000 revolving trade accounts receivable securitization facility (the “AR Facility”) that matures in As of November 30, 2019, no undivided ownership interests in this pool of accounts receivable had been sold.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Nov. 30, 2019
Equity [Abstract]
Other Comprehensive Income (Loss)	NOTE J – Other Comprehensive Income (Loss) The following table summarizes the tax effects on each component of OCI for the periods presented: Three months ended November 30, 2019 2018 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 6,662 $ - $ 6,662 $ (6,638 ) $ - $ (6,638 ) Pension liability adjustment 117 (22 ) 95 - - - Cash flow hedges 4,016 (803 ) 3,213 (6,066 ) 1,404 (4,662 ) Other comprehensive income (loss) $ 10,795 $ (825 ) $ 9,970 $ (12,704 ) $ 1,404 $ (11,300 ) Six months ended November 30, 2019 2018 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 11,444 $ - $ 11,444 $ (10,333 ) $ - $ (10,333 ) Pension liability adjustment 1,421 (313 ) 1,108 - (97 ) (97 ) Cash flow hedges 691 (117 ) 574 (8,593 ) 1,961 (6,632 ) Other comprehensive income (loss) $ 13,556 $ (430 ) $ 13,126 $ (18,926 ) $ 1,864 $ (17,062 )

Changes in Equity

Changes in Equity	6 Months Ended
	Nov. 30, 2019
Equity [Abstract]
Changes in Equity	NOTE K – Changes in Equity The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2019 $ 283,177 $ (43,464 ) $ 591,533 $ 831,246 $ 117,148 $ 948,394 Net earnings (loss) - - (4,776 ) (4,776 ) 2,321 (2,455 ) Other comprehensive income - 3,156 - 3,156 - 3,156 Common shares issued, net of withholding tax (3,213 ) - - (3,213 ) - (3,213 ) Common shares in NQ plans 74 - - 74 - 74 Stock-based compensation 4,545 - - 4,545 - 4,545 Purchases and retirement of common shares (3,814 ) - (25,785 ) (29,599 ) - (29,599 ) Cash dividends declared - - (13,460 ) (13,460 ) - (13,460 ) Balance at August 31, 2019 $ 280,769 $ (40,308 ) $ 547,512 $ 787,973 $ 119,469 $ 907,442 Net earnings - - 52,086 52,086 4,836 56,922 Other comprehensive income - 9,970 - 9,970 - 9,970 Common shares issued, net of withholding tax (3,811 ) - - (3,811 ) - (3,811 ) Common shares in NQ plans 239 - - 239 - 239 Stock-based compensation 2,880 - - 2,880 - 2,880 Cash dividends declared - - (13,446 ) (13,446 ) - (13,446 ) Dividends to noncontrolling interest - - - - (1,453 ) (1,453 ) Balance at November 30, 2019 $ 280,077 $ (30,338 ) $ 586,152 $ 835,891 $ 122,852 $ 958,743 Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2018 $ 295,592 $ (14,580 ) $ 637,757 $ 918,769 $ 117,606 $ 1,036,375 Net earnings - - 54,942 54,942 2,016 56,958 Other comprehensive loss - (5,745 ) - (5,745 ) (17 ) (5,762 ) Common shares issued, net of withholding tax (4,091 ) - - (4,091 ) - (4,091 ) Common shares in NQ plans 152 - - 152 - 152 Stock-based compensation 4,838 - - 4,838 - 4,838 ASC 606 transition adjustment - - 1,174 1,174 570 1,744 Purchases and retirement of common shares (4,003 ) - (32,849 ) (36,852 ) - (36,852 ) Cash dividends declared - - (13,668 ) (13,668 ) - (13,668 ) Dividends to noncontrolling interest - - - - (2,320 ) (2,320 ) Balance at August 31, 2018 $ 292,488 $ (20,325 ) $ 647,356 $ 919,519 $ 117,855 $ 1,037,374 Net earnings - - 34,002 34,002 3,790 37,792 Other comprehensive loss - (11,245 ) - (11,245 ) (55 ) (11,300 ) Common shares issued, net of withholding tax (658 ) - - (658 ) - (658 ) Common shares in NQ plans 306 - - 306 - 306 Stock-based compensation 3,730 - - 3,730 - 3,730 Purchases and retirement of common shares (7,540 ) - (56,041 ) (63,581 ) - (63,581 ) Cash dividends declared - - (13,401 ) (13,401 ) - (13,401 ) Dividends to noncontrolling interest - - - - (4,007 ) (4,007 ) Balance at November 30, 2018 $ 288,326 $ (31,570 ) $ 611,916 $ 868,672 $ 117,583 $ 986,255 The following tables summarize the changes in accumulated other comprehensive loss for the periods presented: Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2019 $ (19,639 ) $ (17,856 ) $ (5,969 ) $ (43,464 ) Other comprehensive income (loss) before reclassifications 2,948 79 (5,975 ) (2,948 ) Reclassification adjustments to income (a) 8,496 1,342 6,666 16,504 Income tax effect - (313 ) (117 ) (430 ) Balance as of November 30, 2019 $ (8,195 ) $ (16,748 ) $ (5,395 ) $ (30,338 ) Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2018 $ (4,987 ) $ (16,071 ) $ 6,478 $ (14,580 ) Other comprehensive loss before reclassifications (10,261 ) - (4,530 ) (14,791 ) Reclassification adjustments to income (a) - - (4,063 ) (4,063 ) Income tax effect - (97 ) 1,961 1,864 Balance as of November 30, 2018 $ (15,248 ) $ (16,168 ) $ (154 ) $ (31,570 ) (a) The statement of earnings classifications of amounts reclassified to income include: (1) Foreign currency translation – result of $7,454,000 related to the sale of our cryogenics business in Turkey; and $1,042,000 related to the impairment of our Nisshin joint venture. (2) Pension liability adjustment – result of the settlement of certain participant balances within the pension plan maintained by WAVE. (3) Cash flow hedges – disclosed in “NOTE Q – Derivative Instruments and Hedging Activities”.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Nov. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	NOTE L – Stock-Based Compensation Non-Qualified Stock Options During the six months ended November 30, 2019, we granted non-qualified stock options covering a total of 100,700 common shares under our stock-based compensation plans. The weighted average option price of $38.91 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 $10.21 per share. The calculated pre-tax stock-based compensation expense for these stock options is $1,029,000 and will be recognized on a straight-line basis over the three-year Dividend yield 2.42 % Expected volatility 33.10 % Risk-free interest rate 1.86 % Expected term (years) 6.0 Expected volatility is based on the historical volatility of our common shares and the risk-free interest rate is based on the U.S. Treasury strip rate for the expected term of the stock options. The expected term was developed using historical exercise experience. Service-Based Restricted Common Shares During the six months ended November 30, 2019 three-years Market-Based Restricted Common Shares On September 25, 2019, we granted 50,000 restricted common shares to a key employee 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 $65.00 per share and remaining at or above that price for 90 consecutive days during the five-year Dividend yield 2.69 % Expected volatility 34.90 % Risk-free interest rate 1.60 % The calculated pre-tax stock-based compensation expense for these restricted common shares is $716,000 and will be recognized on a straight-line basis over the five-year Performance Share Awards We have awarded performance shares to certain key employees under our stock-based compensation plans. These performance shares are earned based on the level of achievement with respect to corporate targets for cumulative corporate economic value added, earnings per share growth and, in the case of business unit executives, business unit operating income targets for the three-year periods ending May 31, 2020, 2021 and 2022. These performance share awards will be paid, to the extent earned, in common shares of Worthington Industries, Inc. in the fiscal quarter following the end of the applicable three-year performance period. The fair values of our performance shares are determined by the closing market prices of the underlying common shares at the respective grant dates of the performance shares and the pre-tax stock-based compensation expense is based on our periodic assessment of the probability of the targets being achieved and our estimate of the number of common shares that will ultimately be issued. During the six months ended November 30, 2019 three-year

Income Taxes

Income Taxes	6 Months Ended
	Nov. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE M – Income Taxes Income tax expense for the six months ended November 30, 2019 and 2018 reflected estimated annual effective income tax rates of 24.8% and 23.4%, 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 interests are primarily a result of our WSP, Spartan, and TWB consolidated joint ventures. The earnings attributable to the noncontrolling interests in WSP, Spartan and TWB’s U.S. operations do not generate tax expense to Worthington since the investors in WSP, Spartan and TWB’s U.S. operations are taxed directly based on the earnings attributable to them. The tax expense of TWB’s wholly-owned foreign corporations is reported in our consolidated 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 2020 could be materially different from the forecasted rate as of November 30, 2019.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Nov. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	NOTE N – Earnings per Share The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented: Three Months Ended November 30, Six Months Ended November 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator (basic & diluted): Net earnings attributable to controlling interest - income available to common shareholders $ 52,086 $ 34,002 $ 47,310 $ 88,944 Denominator: Denominator for basic earnings per share attributable to controlling interest - weighted average common shares 55,059 57,716 55,150 58,226 Effect of dilutive securities 1,013 1,622 1,055 1,787 Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares 56,072 59,338 56,205 60,013 Basic earnings per share attributable to controlling interest $ 0.95 $ 0.59 $ 0.86 $ 1.53 Diluted earnings per share attributable to controlling interest $ 0.93 $ 0.57 $ 0.84 $ 1.48 Stock options covering 405,433 and 223,372 common shares for the three months ended November 30, 2019 and 2018, respectively, and 391,563 and 152,256 common shares for the six months ended November 30, 2019 and 2018, respectively, have been excluded from the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive for those periods.

Segment Operations

Segment Operations	6 Months Ended
	Nov. 30, 2019
Segment Reporting [Abstract]
Segment Operations	NOTE O – Segment Operations Effective November 1, 2019, the Company deconsolidated substantially all of the net assets of the Engineered Cabs business, which has historically been treated as a separate reporting segment. The deconsolidated net assets included its two primary manufacturing facilities located in Greeneville, Tennessee and Watertown, South Dakota. The remaining non-core assets of the Engineered Cabs business, including the fabricated products facility in Stow, Ohio, and the steel packaging facility in Greensburg, Indiana, were retained. The retained Engineered Cabs assets no longer qualify as a separate operating or reportable segment. Accordingly, the activity related to our former Engineered Cabs operating segment has been reported in the “Other” category. Segment information reported in previous periods has been restated to conform to this new presentation. The following table presents summarized financial information for our reportable segments as of the dates, and for the periods presented: Three Months Ended November 30, Six Months Ended November 30, (in thousands) 2019 2018 2019 2018 Net sales Steel Processing $ 516,937 $ 635,043 $ 1,040,312 $ 1,295,530 Pressure Cylinders 290,136 294,447 594,532 594,800 Other 20,564 28,736 48,652 56,003 Total net sales $ 827,637 $ 958,226 $ 1,683,496 $ 1,946,333 Operating income (loss) Steel Processing $ 17,172 $ 25,016 $ 23,340 $ 64,676 Pressure Cylinders 15,647 14,758 45,270 29,491 Other (701 ) (3,910 ) (51,080 ) (7,392 ) Total operating income $ 32,118 $ 35,864 $ 17,530 $ 86,775 Impairment of long-lived assets Steel Processing $ - $ - $ - $ - Pressure Cylinders - - - 2,381 Other - - 40,601 - Total impairment of long-lived assets $ - $ - $ 40,601 $ 2,381 Restructuring and other expense (income), net Steel Processing $ - $ - $ (26 ) $ (9 ) Pressure Cylinders - 402 - (525 ) Other (50 ) - 431 - Total restructuring and other expense (income), net $ (50 ) $ 402 $ 405 $ (534 ) November 30, May 31, (in thousands) 2019 2019 Total assets Steel Processing $ 868,597 $ 924,966 Pressure Cylinders 1,143,256 1,123,115 Other 397,108 462,715 Total assets $ 2,408,961 $ 2,510,796

Acquisitions

Acquisitions	6 Months Ended
	Nov. 30, 2019
Business Combinations [Abstract]
Acquisitions	NOTE P – Acquisitions Heidtman Steel Products, Inc. On October 7, 2019, we acquired the Cleveland, Ohio-based operating net assets, excluding working capital, of Heidtman for cash consideration of $29,593,000. The acquired net assets are being managed and reported as a component of our Steel Processing operating segment. The information included herein has been prepared based on the preliminary allocation of the purchase price using estimates of the fair value and useful lives of the assets acquired. The purchase price allocation is subject to further adjustment until all pertinent information regarding the assets acquired is fully evaluated by the Company, including but not limited to, the fair value accounting. 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. A customer list intangible asset was identified and valued and will be amortized over the estimated useful life of 10 years. The purchase price includes the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value. The purchase price also includes strategic and synergistic benefits (investment value) specific to us, which resulted in a purchase price in excess of the fair value of the identifiable net assets. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes. The following table summarizes the consideration paid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, including preliminary work performed by third-party valuation specialists, and are subject to change within the measurement period as valuations are finalized. The primary areas of preliminary purchase price allocation subject to change relate to the valuation of the acquired tangible assets (including finance lease assets), identification and valuation of intangible assets acquired and residual goodwill. (in thousands) Customer list $ 2,900 Property, plant and equipment 7,515 Finance lease assets 8,000 Other assets 725 Net identifiable assets 19,140 Goodwill 10,453 Purchase price $ 29,593

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Nov. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE Q – 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, foreign currency exchange rate 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 (loss) at the end of each period. Interest Rate Risk Management Foreign Currency Exchange Rate Risk Management Commodity Price Risk Management We are exposed to counterparty credit risk on all of our derivative instruments. Accordingly, we have established and maintain strict counterparty credit guidelines. We have credit support agreements in place with certain counterparties to limit our credit exposure. These agreements require either party to post cash collateral if its cumulative market position exceeds a predefined liability threshold. Amounts posted to the margin accounts accrue interest at market rates and are required to be refunded in the period in which the cumulative market position falls below the required threshold. We do not have significant exposure to any one counterparty, and management believes the risk of loss is remote and, in any event, would not be material. Refer to "NOTE R – 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 lines in which they were recorded in the consolidated balance sheet at November 30, 2019: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 9 Accounts payable $ 4,569 Other assets - Other liabilities 451 Totals $ 9 $ 5,020 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 953 Accounts payable $ 1,487 Other assets 7 Other liabilities 223 960 1,710 Foreign currency exchange contracts Receivables - Accounts payable 75 Totals $ 960 $ 1,785 Total derivative instruments $ 969 $ 6,805 The amounts in the table above reflect the fair value of the Company’s derivative instruments on a net basis at November 30, 2019. Had these amounts been recognized on a gross basis, the impact would have been a $581,000 increase in receivables with a corresponding increase in accounts payable. The following table summarizes the fair value of our derivative instruments and the respective lines in which they were recorded in the consolidated balance sheet at May 31, 2019: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 5 Accounts payable $ 8,383 Other assets - Other liabilities 201 Totals $ 5 $ 8,584 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 2,347 Accounts payable $ 3,568 Other assets 62 Other liabilities 66 2,409 3,634 Foreign currency exchange contracts Receivables - Accounts payable 20 Totals $ 2,409 $ 3,654 Total derivative instruments $ 2,414 $ 12,238 The amounts in the table above reflect the fair value of the Company’s derivative instruments on a net basis at May 31, 2019. Had these amounts been recognized on a gross basis, the impact would have been a $220,000 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 commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. The earnings effects of these derivative instruments are presented in the same statement of earnings line items as the earnings effects of the hedged items. For derivatives designated as cash flow hedges, the Company assesses hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative instrument. The following table summarizes our cash flow hedges outstanding at November 30, 2019: Notional (in thousands) Amount Maturity Date Commodity contracts $ 40,824 December 2019 - June 2021 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from AOCI into net earnings for derivative instruments designated as cash flow hedges for the periods presented: Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified (in thousands) Recognized in OCI Reclassified from AOCI into Net Earnings from AOCI into Net Earnings For the three months ended November 30, 2019: Commodity contracts $ 10 Cost of goods sold $ (4,228 ) Interest rate contracts (326 ) Interest expense (7 ) Foreign currency exchange contracts - Miscellaneous income, net (97 ) Totals $ (316 ) $ (4,332 ) For the three months ended November 30, 2018: Commodity contracts $ (4,499 ) Cost of goods sold $ 1,565 Interest rate contracts - Interest expense (34 ) Foreign currency exchange contracts - Miscellaneous income, net 36 Totals $ (4,499 ) $ 1,567 For the six months ended November 30, 2019: Commodity contracts $ (5,649 ) Cost of goods sold $ (6,520 ) Interest rate contracts (326 ) Interest expense (127 ) Foreign currency exchange contracts - Miscellaneous income, net (19 ) Totals $ (5,975 ) $ (6,666 ) For the six months ended November 30, 2018: Commodity contracts $ (4,530 ) Cost of goods sold $ 4,108 Interest rate contracts - Interest expense (81 ) Foreign currency exchange contracts - Miscellaneous income, net 36 Totals $ (4,530 ) $ 4,063 The estimated net amount of the losses recognized in AOCI at November 30, 2019 expected to be reclassified into net earnings within the succeeding twelve months is $5,916,000 (net of tax of $1,863,000). This amount was computed using the fair value of the cash flow hedges at November 30, 2019, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2020 Economic (Non-designated) Hedges We enter into foreign currency exchange contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through net earnings. The following table summarizes our economic (non-designated) derivative instruments outstanding at November 30, 2019: Notional (in thousands) Amount Maturity Date(s) Commodity contracts $ 45,247 December 2019 - September 2021 Foreign currency exchange contracts 3,901 December 2019 - March 2020 The following tables summarize the gain (loss) recognized in net earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized In Net Earnings for the Location of Gain (Loss) Three Months Ended November 30, (in thousands) Recognized in Net Earnings 2019 2018 Commodity contracts Cost of goods sold $ (1,673 ) $ (737 ) Foreign currency exchange contracts Miscellaneous income, net 15 (1,183 ) Total $ (1,658 ) $ (1,920 ) Loss Recognized in Net Earnings for the Location of Loss Six Months Ended November 30, (in thousands) Recognized in Net Earnings 2019 2018 Commodity contracts Cost of goods sold $ (3,916 ) $ (2,934 ) Foreign currency exchange contracts Miscellaneous income, net (89 ) (2,689 ) Total $ (4,005 ) $ (5,623 )

Fair Value

Fair Value	6 Months Ended
	Nov. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	NOTE R – Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1 – Observable prices in active markets for identical assets and liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the assets and liabilities, either directly or indirectly. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Recurring Fair Value Measurements At November 30, 2019, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative instruments (1) $ - $ 969 $ - $ 969 Total assets $ - $ 969 $ - $ 969 Liabilities Derivative instruments (1) $ - $ 6,805 $ - $ 6,805 Total liabilities $ - $ 6,805 $ - $ 6,805 At May 31, 2019, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative instruments (1) $ - $ 2,414 $ - $ 2,414 Total assets $ - $ 2,414 $ - $ 2,414 Liabilities Derivative instruments (1) $ - $ 12,238 $ - $ 12,238 Total liabilities $ - $ 12,238 $ - $ 12,238 (1) The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ NOTE Q – Derivative Instruments and Hedging Activities Non-Recurring Fair Value Measurements At November 30, 2019, our Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Investment in unconsolidated affiliate (1) $ - $ - $ 13,623 13,623 Long-lived assets held and used (2) - - - - Total assets $ - $ - $ 13,623 $ 13,623 At May 31, 2019, our assets measured at fair value on a non-recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Investment in unconsolidated affiliate (1) $ - $ 3,700 $ - $ 3,700 Long-lived assets held for sale (3) - 7,000 - 7,000 Long-lived assets held and used (4) - 1,238 - 1,238 Total assets $ - $ 11,938 $ - $ 11,938 1) On November 1, 2019, in connection with the contribution of substantially all of the net assets of the Engineered Cabs business to a newly-formed Cabs joint venture, we obtained a 20% minority ownership interest. In accordance with the applicable accounting guidance, our minority ownership interest in the Cabs joint venture was recorded at its acquisition date fair value of $13,623,000 . During the first quarter of fiscal 2020, we determined our 10% minority ownership interest in our steel joint venture in China, Nisshin, was fully impaired based on the estimated recoverability of the related assets. During the fourth quarter of fiscal 2019, we determined our 10% minority ownership interest in our Nisshin joint venture was other than temporarily impaired due to current and projected operating losses. As a result, the investment had been written down to its estimated fair value of $3,700,000, resulting in an impairment charge of $4,017,000 within equity income of unconsolidated affiliates. 2) During the first quarter of fiscal 2020, the Company identified an impairment indicator for the fabricated products business in Stow, Ohio within the former Engineered Cabs operating segment. As a result, fixed assets with a net book value of $1,469,000 and lease ROU assets with a net book value of $3,938,000 were deemed to be fully impaired and written off. 3) During the first quarter of fiscal 2019, changes in facts and circumstances related to the planned sale of our cryogenics business in Turkey, Worthington Aritas, resulted in our lowering the estimate of fair value less cost to sell to $7,000,000, generating an impairment charge of $2,381,000. 4 ) During the fourth quarter of fiscal 2019, in connection with the closure of the CNG fuel systems facility in Salt Lake City, Utah, long-lived assets consisting primarily of technology-related intangible assets and fixed assets were written down to their estimated fair value of $238,000, resulting in an impairment charge of $2,167,000. During the fourth quarter of fiscal 2019, certain long-lived assets at our consolidated joint venture, WSP, were written down to their estimated fair value of $1,000,000, resulting in an impairment charge of $3,269,000. 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, 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 $731,433,000 and $767,075,000 at November 30, 2019 and May 31, 2019, respectively. The carrying amount of long-term debt, including current maturities, was $698,803,000 and $749,299,000 at November 30, 2019 and May 31, 2019, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Nov. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE S – Subsequent Events On December 31, 2019, the Company contributed the recently acquired net assets of Heidtman to the Samuel joint venture in exchange for an incremental 31.75% ownership interest in the Samuel joint venture, bringing the Company’s total ownership interest to 63%. As a result of the transaction, the Company obtained a controlling interest in the Samuel joint venture, resulting in the consolidation of Samuel upon closing. The accounting for the transaction, including the revaluation of its previously held interest in Samuel, will be completed in the third quarter of fiscal 2020.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Nov. 30, 2019
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Standards On June 1, 2019, the Company adopted Accounting Standards Update 2016-02, Leases On June 1, 2019, the Company adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“Topic 815”) , which amended the existing hedge accounting guidance . The ASU is intended to simplify and clarify the accounting and disclosure requirements for hedging activities by more closely aligning the results of cash flow and fair value hedge accounting with the underlying risk management activities. The adoption of the standard had no current or historical impact on Recently Issued Accounting Standards In June 2016, amended accounting guidance was issued related to the measurement of credit losses on financial instruments. The amended accounting guidance changes the impairment model for most financial assets to require measurement and recognition of expected credit losses for financial assets held. The amended accounting guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are in the process of evaluating the effect this amended accounting guidance will have on our consolidated
Reclassification	Reclassification Certain prior period amounts have been reclassified within the operating section of the consolidated statements of cash flows for consistency with the current period presentation.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Nov. 30, 2019
Accounting Policies [Abstract]
Summary of Consideration Received, Consideration Transferred and Resulting Net Gain on Deconsolidation	(in thousands) Retained investment (at fair value) $ 13,623 Contributed net assets (at carrying value) 13,394 Gain on deconsolidation 229 Less: deal costs (179 ) Net gain on deconsolidation $ 50

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Nov. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue by Product Class and Over Time	The following tables summarize net sales by product class for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2019 2018 2019 2018 Reportable segments by product class: Steel Processing Direct $ 481,058 $ 602,010 $ 974,704 $ 1,228,872 Toll 35,879 33,033 65,608 66,658 Total $ 516,937 $ 635,043 $ 1,040,312 $ 1,295,530 Pressure Cylinders Industrial products $ 130,334 $ 152,018 $ 282,952 $ 304,865 Consumer products 128,065 117,194 247,545 234,017 Oil & gas equipment 31,737 25,235 64,035 55,918 Total $ 290,136 $ 294,447 $ 594,532 $ 594,800 Other Engineered Cabs $ 20,550 $ 28,729 $ 48,616 $ 55,981 Other 14 7 36 22 Total $ 20,564 $ 28,736 $ 48,652 $ 56,003 Total $ 827,637 $ 958,226 $ 1,683,496 $ 1,946,333
Summary of Unbilled Receivable and Contract Assets	The following table summarizes the unbilled receivables and contract assets for the periods indicated: (in thousands) Balance Sheet Classification November 30, 2019 May 31, 2019 Unbilled receivables Receivables $ 5,538 $ 5,366 Contract assets Prepaid and other current assets $ 8,460 $ 8,792
Over time revenue
Disaggregation Of Revenue [Line Items]
Revenue by Product Class and Over Time	The following table summarizes the over time revenue for the periods presented: Three Months Ended Six Months Ended November 30, November 30, (in thousands) 2019 2018 2019 2018 Steel Processing - toll $ 35,879 $ 33,033 $ 65,608 $ 66,658 Pressure Cylinders - certain oil & gas contracts 27,531 17,482 57,539 28,801 Total over time revenue $ 63,410 $ 50,515 $ 123,147 $ 95,459

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
	Nov. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]
Financial Information	The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented: November 30, May 31, (in thousands) 2019 2019 Cash $ 31,641 $ 37,471 Other current assets 633,772 594,959 Current assets for discontinued operations - 35,793 Noncurrent assets 390,433 360,925 Total assets $ 1,055,846 $ 1,029,148 Current liabilities $ 202,450 $ 236,781 Current liabilities for discontinued operations - 9,610 Short-term borrowings 1,965 15,162 Current maturities of long-term debt 2,582 33,003 Long-term debt 346,223 321,791 Other noncurrent liabilities 42,144 18,192 Equity 460,482 394,609 Total liabilities and equity $ 1,055,846 $ 1,029,148 Three Months Ended November 30, Six Months Ended November 30, (in thousands) 2019 2018 2019 2018 Net sales $ 458,859 $ 480,716 $ 946,134 $ 979,261 Gross margin 97,329 75,515 198,944 179,327 Operating income 63,452 44,592 132,857 116,968 Depreciation and amortization 7,538 6,581 14,627 13,058 Interest expense 3,139 3,382 6,506 6,307 Income tax expense 1,576 3,568 2,578 8,093 Net earnings from continuing operations 104,431 36,523 165,572 101,417 Net earnings (loss) from discontinued operations (3,990 ) 2,028 (1,178 ) 3,712 Net earnings 100,441 38,551 164,394 105,129

Leases (Tables)

Leases (Tables)	6 Months Ended
	Nov. 30, 2019
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: (in thousands) Three Months Ended November 30, 2019 Six Months Ended November 30, 2019 Operating lease expense $ 2,880 $ 6,222 Financing lease expense: Amortization of leased assets 65 110 Interest on lease liabilities 9 19 Total financing lease expense 74 129 Short-term lease expense 590 996 Variable lease expense 150 304 Total lease expense $ 3,694 $ 7,651
Other Information Related to Company' s Leases	Other information related to the Company’s leases, as of and for the six-month period ended November 30, 2019, is provided below: (dollars in thousands) Operating Leases Financing Leases Cash paid for amounts included in the measurement of lease liabilities Operating cash flows $ 5,702 $ 19 Financing cash flows $ - $ 173 ROU assets obtained in exchange for lease liabilities $ 3,722 $ 8,028 Weighted-average remaining lease term (in years) 5.45 3.12 Weighted-average discount rate 3.44 % 3.23 %
Schedule of Future Minimum Lease Payments for Non-Cancelable Leases	Future minimum lease payments for non-cancelable leases having an initial or remaining term in excess of one year at November 30, 2019, were as follows: (in thousands) Operating Leases Financing Leases Year 1 $ 12,436 $ 384 Year 2 10,312 376 Year 3 8,014 369 Year 4 5,256 53 Year 5 3,265 - Thereafter 6,554 - Total 45,837 1,182 Less: imputed interest (4,571 ) (56 ) Present value of lease liabilities $ 41,266 $ 1,126 As previously disclosed in our 2019 Form 10-K, under the prior accounting guidance, future minimum lease payments for non-cancelable operating leases having an initial or remaining term in excess of one year at May 31, 2019, were as follows: (in thousands) Year 1 $ 10,774 Year 2 8,398 Year 3 5,428 Year 4 4,054 Year 5 2,098 Thereafter 2,637 Total $ 33,389

Restructuring and Other Expen_2

Restructuring and Other Expense (Income), Net (Tables)	6 Months Ended
	Nov. 30, 2019
Restructuring And Related Activities [Abstract]
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense (Income), Net	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense (income), net financial statement caption, in our consolidated statement of earnings is summarized below for the period presented: Balance, as of Expense Balance, as of (in thousands) May 31, 2019 (income) Payments Adjustments November 30, 2019 Early retirement and severance $ 774 $ - $ (596 ) $ (89 ) $ 89 Facility exit and other costs 2 (26 ) (56 ) 81 1 $ 776 (26 ) $ (652 ) $ (8 ) $ 90 Net loss on sale of assets 431 Restructuring and other expense, net $ 405

Contingent Liabilities and Co_2

Contingent Liabilities and Commitments (Tables)	6 Months Ended
	Nov. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Summary of Progression of Liabilities	A progression of the liabilities recorded in connection with this matter during fiscal 2020 is summarized in the following table: Beginning Ending (in thousands) Balance Expense Payments Balance Tank replacement costs $ 8,500 $ - $ (211 ) $ 8,289

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Nov. 30, 2019
Equity [Abstract]
Summary of Tax Effects on Each Component of OCI	The following table summarizes the tax effects on each component of OCI for the periods presented: Three months ended November 30, 2019 2018 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 6,662 $ - $ 6,662 $ (6,638 ) $ - $ (6,638 ) Pension liability adjustment 117 (22 ) 95 - - - Cash flow hedges 4,016 (803 ) 3,213 (6,066 ) 1,404 (4,662 ) Other comprehensive income (loss) $ 10,795 $ (825 ) $ 9,970 $ (12,704 ) $ 1,404 $ (11,300 ) Six months ended November 30, 2019 2018 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ 11,444 $ - $ 11,444 $ (10,333 ) $ - $ (10,333 ) Pension liability adjustment 1,421 (313 ) 1,108 - (97 ) (97 ) Cash flow hedges 691 (117 ) 574 (8,593 ) 1,961 (6,632 ) Other comprehensive income (loss) $ 13,556 $ (430 ) $ 13,126 $ (18,926 ) $ 1,864 $ (17,062 )

Changes in Equity (Tables)

Changes in Equity (Tables)	6 Months Ended
	Nov. 30, 2019
Equity [Abstract]
Summary of Changes in Equity by Component and in Total	The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2019 $ 283,177 $ (43,464 ) $ 591,533 $ 831,246 $ 117,148 $ 948,394 Net earnings (loss) - - (4,776 ) (4,776 ) 2,321 (2,455 ) Other comprehensive income - 3,156 - 3,156 - 3,156 Common shares issued, net of withholding tax (3,213 ) - - (3,213 ) - (3,213 ) Common shares in NQ plans 74 - - 74 - 74 Stock-based compensation 4,545 - - 4,545 - 4,545 Purchases and retirement of common shares (3,814 ) - (25,785 ) (29,599 ) - (29,599 ) Cash dividends declared - - (13,460 ) (13,460 ) - (13,460 ) Balance at August 31, 2019 $ 280,769 $ (40,308 ) $ 547,512 $ 787,973 $ 119,469 $ 907,442 Net earnings - - 52,086 52,086 4,836 56,922 Other comprehensive income - 9,970 - 9,970 - 9,970 Common shares issued, net of withholding tax (3,811 ) - - (3,811 ) - (3,811 ) Common shares in NQ plans 239 - - 239 - 239 Stock-based compensation 2,880 - - 2,880 - 2,880 Cash dividends declared - - (13,446 ) (13,446 ) - (13,446 ) Dividends to noncontrolling interest - - - - (1,453 ) (1,453 ) Balance at November 30, 2019 $ 280,077 $ (30,338 ) $ 586,152 $ 835,891 $ 122,852 $ 958,743 Controlling Interest Accumulated Other Additional Comprehensive Non- Paid-in Loss, Retained controlling (in thousands) Capital Net of Tax Earnings Total Interests Total Balance at May 31, 2018 $ 295,592 $ (14,580 ) $ 637,757 $ 918,769 $ 117,606 $ 1,036,375 Net earnings - - 54,942 54,942 2,016 56,958 Other comprehensive loss - (5,745 ) - (5,745 ) (17 ) (5,762 ) Common shares issued, net of withholding tax (4,091 ) - - (4,091 ) - (4,091 ) Common shares in NQ plans 152 - - 152 - 152 Stock-based compensation 4,838 - - 4,838 - 4,838 ASC 606 transition adjustment - - 1,174 1,174 570 1,744 Purchases and retirement of common shares (4,003 ) - (32,849 ) (36,852 ) - (36,852 ) Cash dividends declared - - (13,668 ) (13,668 ) - (13,668 ) Dividends to noncontrolling interest - - - - (2,320 ) (2,320 ) Balance at August 31, 2018 $ 292,488 $ (20,325 ) $ 647,356 $ 919,519 $ 117,855 $ 1,037,374 Net earnings - - 34,002 34,002 3,790 37,792 Other comprehensive loss - (11,245 ) - (11,245 ) (55 ) (11,300 ) Common shares issued, net of withholding tax (658 ) - - (658 ) - (658 ) Common shares in NQ plans 306 - - 306 - 306 Stock-based compensation 3,730 - - 3,730 - 3,730 Purchases and retirement of common shares (7,540 ) - (56,041 ) (63,581 ) - (63,581 ) Cash dividends declared - - (13,401 ) (13,401 ) - (13,401 ) Dividends to noncontrolling interest - - - - (4,007 ) (4,007 ) Balance at November 30, 2018 $ 288,326 $ (31,570 ) $ 611,916 $ 868,672 $ 117,583 $ 986,255
Summary of Changes in Accumulated Other Comprehensive Loss	The following tables summarize the changes in accumulated other comprehensive loss for the periods presented: Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2019 $ (19,639 ) $ (17,856 ) $ (5,969 ) $ (43,464 ) Other comprehensive income (loss) before reclassifications 2,948 79 (5,975 ) (2,948 ) Reclassification adjustments to income (a) 8,496 1,342 6,666 16,504 Income tax effect - (313 ) (117 ) (430 ) Balance as of November 30, 2019 $ (8,195 ) $ (16,748 ) $ (5,395 ) $ (30,338 ) Accumulated Foreign Pension Other Currency Liability Cash Flow Comprehensive (in thousands) Translation Adjustment Hedges Loss Balance as of May 31, 2018 $ (4,987 ) $ (16,071 ) $ 6,478 $ (14,580 ) Other comprehensive loss before reclassifications (10,261 ) - (4,530 ) (14,791 ) Reclassification adjustments to income (a) - - (4,063 ) (4,063 ) Income tax effect - (97 ) 1,961 1,864 Balance as of November 30, 2018 $ (15,248 ) $ (16,168 ) $ (154 ) $ (31,570 ) (a) The statement of earnings classifications of amounts reclassified to income include: (1) Foreign currency translation – result of $7,454,000 related to the sale of our cryogenics business in Turkey; and $1,042,000 related to the impairment of our Nisshin joint venture. (2) Pension liability adjustment – result of the settlement of certain participant balances within the pension plan maintained by WAVE. (3) Cash flow hedges – disclosed in “NOTE Q – Derivative Instruments and Hedging Activities”.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Nov. 30, 2019
Schedule of Assumptions Used to Determine Grant Date Fair Value of Restricted Common Shares	The following assumptions were used to determine the grant-date fair value and the derived service period for these restricted common shares: Dividend yield 2.69 % Expected volatility 34.90 % Risk-free interest rate 1.60 %
Non-Qualified Stock Options
Schedule of Assumptions Used to Determine Fair Value of Stock Options	The following assumptions were used to value these stock options: Dividend yield 2.42 % Expected volatility 33.10 % Risk-free interest rate 1.86 % Expected term (years) 6.0

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Nov. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest	The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the periods presented: Three Months Ended November 30, Six Months Ended November 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator (basic & diluted): Net earnings attributable to controlling interest - income available to common shareholders $ 52,086 $ 34,002 $ 47,310 $ 88,944 Denominator: Denominator for basic earnings per share attributable to controlling interest - weighted average common shares 55,059 57,716 55,150 58,226 Effect of dilutive securities 1,013 1,622 1,055 1,787 Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares 56,072 59,338 56,205 60,013 Basic earnings per share attributable to controlling interest $ 0.95 $ 0.59 $ 0.86 $ 1.53 Diluted earnings per share attributable to controlling interest $ 0.93 $ 0.57 $ 0.84 $ 1.48

Segment Operations (Tables)

Segment Operations (Tables)	6 Months Ended
	Nov. 30, 2019
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following table presents summarized financial information for our reportable segments as of the dates, and for the periods presented: Three Months Ended November 30, Six Months Ended November 30, (in thousands) 2019 2018 2019 2018 Net sales Steel Processing $ 516,937 $ 635,043 $ 1,040,312 $ 1,295,530 Pressure Cylinders 290,136 294,447 594,532 594,800 Other 20,564 28,736 48,652 56,003 Total net sales $ 827,637 $ 958,226 $ 1,683,496 $ 1,946,333 Operating income (loss) Steel Processing $ 17,172 $ 25,016 $ 23,340 $ 64,676 Pressure Cylinders 15,647 14,758 45,270 29,491 Other (701 ) (3,910 ) (51,080 ) (7,392 ) Total operating income $ 32,118 $ 35,864 $ 17,530 $ 86,775 Impairment of long-lived assets Steel Processing $ - $ - $ - $ - Pressure Cylinders - - - 2,381 Other - - 40,601 - Total impairment of long-lived assets $ - $ - $ 40,601 $ 2,381 Restructuring and other expense (income), net Steel Processing $ - $ - $ (26 ) $ (9 ) Pressure Cylinders - 402 - (525 ) Other (50 ) - 431 - Total restructuring and other expense (income), net $ (50 ) $ 402 $ 405 $ (534 ) November 30, May 31, (in thousands) 2019 2019 Total assets Steel Processing $ 868,597 $ 924,966 Pressure Cylinders 1,143,256 1,123,115 Other 397,108 462,715 Total assets $ 2,408,961 $ 2,510,796

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Nov. 30, 2019
Business Combinations [Abstract]
Schedule of Consideration Paid and the Fair Value Assigned to the Assets Acquired And Liabilities Assumed	The following table summarizes the consideration paid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, including preliminary work performed by third-party valuation specialists, and are subject to change within the measurement period as valuations are finalized. The primary areas of preliminary purchase price allocation subject to change relate to the valuation of the acquired tangible assets (including finance lease assets), identification and valuation of intangible assets acquired and residual goodwill. (in thousands) Customer list $ 2,900 Property, plant and equipment 7,515 Finance lease assets 8,000 Other assets 725 Net identifiable assets 19,140 Goodwill 10,453 Purchase price $ 29,593

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Nov. 30, 2019
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of our derivative instruments and the respective lines in which they were recorded in the consolidated balance sheet at November 30, 2019: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 9 Accounts payable $ 4,569 Other assets - Other liabilities 451 Totals $ 9 $ 5,020 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 953 Accounts payable $ 1,487 Other assets 7 Other liabilities 223 960 1,710 Foreign currency exchange contracts Receivables - Accounts payable 75 Totals $ 960 $ 1,785 Total derivative instruments $ 969 $ 6,805 The following table summarizes the fair value of our derivative instruments and the respective lines in which they were recorded in the consolidated balance sheet at May 31, 2019: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (in thousands) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 5 Accounts payable $ 8,383 Other assets - Other liabilities 201 Totals $ 5 $ 8,584 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 2,347 Accounts payable $ 3,568 Other assets 62 Other liabilities 66 2,409 3,634 Foreign currency exchange contracts Receivables - Accounts payable 20 Totals $ 2,409 $ 3,654 Total derivative instruments $ 2,414 $ 12,238
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 AOCI into net earnings for derivative instruments designated as cash flow hedges for the periods presented: Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified (in thousands) Recognized in OCI Reclassified from AOCI into Net Earnings from AOCI into Net Earnings For the three months ended November 30, 2019: Commodity contracts $ 10 Cost of goods sold $ (4,228 ) Interest rate contracts (326 ) Interest expense (7 ) Foreign currency exchange contracts - Miscellaneous income, net (97 ) Totals $ (316 ) $ (4,332 ) For the three months ended November 30, 2018: Commodity contracts $ (4,499 ) Cost of goods sold $ 1,565 Interest rate contracts - Interest expense (34 ) Foreign currency exchange contracts - Miscellaneous income, net 36 Totals $ (4,499 ) $ 1,567 For the six months ended November 30, 2019: Commodity contracts $ (5,649 ) Cost of goods sold $ (6,520 ) Interest rate contracts (326 ) Interest expense (127 ) Foreign currency exchange contracts - Miscellaneous income, net (19 ) Totals $ (5,975 ) $ (6,666 ) For the six months ended November 30, 2018: Commodity contracts $ (4,530 ) Cost of goods sold $ 4,108 Interest rate contracts - Interest expense (81 ) Foreign currency exchange contracts - Miscellaneous income, net 36 Totals $ (4,530 ) $ 4,063
Schedule of Gain (Loss) Recognized in Net Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following tables summarize the gain (loss) recognized in net earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain (Loss) Recognized In Net Earnings for the Location of Gain (Loss) Three Months Ended November 30, (in thousands) Recognized in Net Earnings 2019 2018 Commodity contracts Cost of goods sold $ (1,673 ) $ (737 ) Foreign currency exchange contracts Miscellaneous income, net 15 (1,183 ) Total $ (1,658 ) $ (1,920 ) Loss Recognized in Net Earnings for the Location of Loss Six Months Ended November 30, (in thousands) Recognized in Net Earnings 2019 2018 Commodity contracts Cost of goods sold $ (3,916 ) $ (2,934 ) Foreign currency exchange contracts Miscellaneous income, net (89 ) (2,689 ) Total $ (4,005 ) $ (5,623 )
Derivatives Not Designated As Hedging Instruments
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative instruments outstanding at November 30, 2019: Notional (in thousands) Amount Maturity Date(s) Commodity contracts $ 45,247 December 2019 - September 2021 Foreign currency exchange contracts 3,901 December 2019 - March 2020
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at November 30, 2019: Notional (in thousands) Amount Maturity Date Commodity contracts $ 40,824 December 2019 - June 2021

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Nov. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At November 30, 2019, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative instruments (1) $ - $ 969 $ - $ 969 Total assets $ - $ 969 $ - $ 969 Liabilities Derivative instruments (1) $ - $ 6,805 $ - $ 6,805 Total liabilities $ - $ 6,805 $ - $ 6,805 At May 31, 2019, our assets and liabilities measured at fair value on a recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative instruments (1) $ - $ 2,414 $ - $ 2,414 Total assets $ - $ 2,414 $ - $ 2,414 Liabilities Derivative instruments (1) $ - $ 12,238 $ - $ 12,238 Total liabilities $ - $ 12,238 $ - $ 12,238 (1) The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ NOTE Q – Derivative Instruments and Hedging Activities
Assets Measured at Fair Value on Non-Recurring Basis	At November 30, 2019, our Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Investment in unconsolidated affiliate (1) $ - $ - $ 13,623 13,623 Long-lived assets held and used (2) - - - - Total assets $ - $ - $ 13,623 $ 13,623 At May 31, 2019, our assets measured at fair value on a non-recurring basis were as follows: Significant Quoted Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (in thousands) (Level 1) (Level 2) (Level 3) Totals Assets Investment in unconsolidated affiliate (1) $ - $ 3,700 $ - $ 3,700 Long-lived assets held for sale (3) - 7,000 - 7,000 Long-lived assets held and used (4) - 1,238 - 1,238 Total assets $ - $ 11,938 $ - $ 11,938 1) On November 1, 2019, in connection with the contribution of substantially all of the net assets of the Engineered Cabs business to a newly-formed Cabs joint venture, we obtained a 20% minority ownership interest. In accordance with the applicable accounting guidance, our minority ownership interest in the Cabs joint venture was recorded at its acquisition date fair value of $13,623,000 . During the first quarter of fiscal 2020, we determined our 10% minority ownership interest in our steel joint venture in China, Nisshin, was fully impaired based on the estimated recoverability of the related assets. During the fourth quarter of fiscal 2019, we determined our 10% minority ownership interest in our Nisshin joint venture was other than temporarily impaired due to current and projected operating losses. As a result, the investment had been written down to its estimated fair value of $3,700,000, resulting in an impairment charge of $4,017,000 within equity income of unconsolidated affiliates. 2) During the first quarter of fiscal 2020, the Company identified an impairment indicator for the fabricated products business in Stow, Ohio within the former Engineered Cabs operating segment. As a result, fixed assets with a net book value of $1,469,000 and lease ROU assets with a net book value of $3,938,000 were deemed to be fully impaired and written off. 3) During the first quarter of fiscal 2019, changes in facts and circumstances related to the planned sale of our cryogenics business in Turkey, Worthington Aritas, resulted in our lowering the estimate of fair value less cost to sell to $7,000,000, generating an impairment charge of $2,381,000. 4 ) During the fourth quarter of fiscal 2019, in connection with the closure of the CNG fuel systems facility in Salt Lake City, Utah, long-lived assets consisting primarily of technology-related intangible assets and fixed assets were written down to their estimated fair value of $238,000, resulting in an impairment charge of $2,167,000. During the fourth quarter of fiscal 2019, certain long-lived assets at our consolidated joint venture, WSP, were written down to their estimated fair value of $1,000,000, resulting in an impairment charge of $3,269,000.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Thousands	Nov. 01, 2019USD ($)	Nov. 30, 2019USD ($)Entity	Aug. 31, 2019USD ($)	Nov. 30, 2018USD ($)	Nov. 30, 2019USD ($)Entity	Nov. 30, 2018USD ($)
Significant Accounting Policies [Line Items]
Impairment of long-lived assets		$ 0		$ 0	$ 40,601	$ 2,381
Engineered Cabs
Significant Accounting Policies [Line Items]
Impairment of long-lived assets			$ 35,194
Cabs Joint Venture
Significant Accounting Policies [Line Items]
Percent of ownership interest held in unconsolidated affiliates	20.00%	20.00%			20.00%
Net gain on deconsolidation	$ 50
Joint Venture Transactions
Significant Accounting Policies [Line Items]
Number of joint ventures | Entity		3			3
Spartan | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		52.00%			52.00%
TWB | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		55.00%			55.00%
Worthington Specialty Processing | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		51.00%			51.00%

Basis of Presentation - Summary

Basis of Presentation - Summary of Consideration Received, Consideration Transferred and Resulting Net Gain on Deconsolidation (Detail) - Cabs Joint Venture $ in Thousands	Nov. 01, 2019USD ($)
Schedule Of Equity Method Investments [Line Items]
Retained investment (at fair value)	$ 13,623
Contributed net assets (at carrying value)	13,394
Gain on deconsolidation	229
Less: deal costs	(179)
Net gain on deconsolidation	$ 50

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product Class and Over Time (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Disaggregation Of Revenue [Line Items]
Net sales	$ 827,637	$ 958,226	$ 1,683,496	$ 1,946,333
Over time revenue
Disaggregation Of Revenue [Line Items]
Net sales	63,410	50,515	123,147	95,459
Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	516,937	635,043	1,040,312	1,295,530
Pressure Cylinders
Disaggregation Of Revenue [Line Items]
Net sales	290,136	294,447	594,532	594,800
Other
Disaggregation Of Revenue [Line Items]
Net sales	20,564	28,736	48,652	56,003
Direct | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	481,058	602,010	974,704	1,228,872
Toll | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	35,879	33,033	65,608	66,658
Toll | Steel Processing | Over time revenue
Disaggregation Of Revenue [Line Items]
Net sales	35,879	33,033	65,608	66,658
Industrial products | Pressure Cylinders
Disaggregation Of Revenue [Line Items]
Net sales	130,334	152,018	282,952	304,865
Consumer products | Pressure Cylinders
Disaggregation Of Revenue [Line Items]
Net sales	128,065	117,194	247,545	234,017
Oil & gas equipment | Pressure Cylinders
Disaggregation Of Revenue [Line Items]
Net sales	31,737	25,235	64,035	55,918
Engineered Cabs | Other
Disaggregation Of Revenue [Line Items]
Net sales	20,550	28,729	48,616	55,981
Other | Other
Disaggregation Of Revenue [Line Items]
Net sales	14	7	36	22
Certain oil & gas contracts | Pressure Cylinders | Over time revenue
Disaggregation Of Revenue [Line Items]
Net sales	$ 27,531	$ 17,482	$ 57,539	$ 28,801

Revenue Recognition - Summary o

Revenue Recognition - Summary of Unbilled Receivables and Contract Assets (Detail) - USD ($) $ in Thousands	Nov. 30, 2019	May 31, 2019
Receivables
Unbilled Receivables And Contract Assets [Line Items]
Unbilled receivables	$ 5,538	$ 5,366
Prepaid Expenses and Other Current Assets
Unbilled Receivables And Contract Assets [Line Items]
Contract assets	$ 8,460	$ 8,792

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 19, 2019	Nov. 01, 2019	Sep. 30, 2019	Aug. 31, 2019	Nov. 30, 2019	May 31, 2019
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates					$ 225,791	$ 214,930
Distributions from unconsolidated affiliates					57,316
Distributions in excess of investment in unconsolidated affiliate					$ 97,243	121,948
ArtiFlex
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					50.00%
Investments in unconsolidated affiliates					$ 54,566
ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					25.00%
Samuel Steel Pickling Company
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					31.25%
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					50.00%
WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					50.00%
Distributions in excess of investment in unconsolidated affiliate					$ 97,243
Pre-tax gain realized from the transaction			$ 23,119
Pre-tax gain realized on deconsolidation of net-assets			$ 46,238
Nisshin
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates					10.00%
Impairment charge				$ 4,236		$ 4,017
Nisshin | Subsequent Event
Investments in and Advances to Affiliates [Line Items]
Ownership interest in unconsolidated affiliates agreed to be transferred	10.00%
Cabs Joint Venture
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates		20.00%			20.00%
Pre-tax gain realized on deconsolidation of net-assets		$ 229

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	May 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Cash	$ 31,641		$ 31,641		$ 37,471
Other current assets	633,772		633,772		594,959
Current assets for discontinued operations					35,793
Noncurrent assets	390,433		390,433		360,925
Total assets	1,055,846		1,055,846		1,029,148
Current liabilities	202,450		202,450		236,781
Current liabilities for discontinued operations					9,610
Short-term borrowings	1,965		1,965		15,162
Current maturities of long-term debt	2,582		2,582		33,003
Long-term debt	346,223		346,223		321,791
Other noncurrent liabilities	42,144		42,144		18,192
Equity	460,482		460,482		394,609
Total liabilities and equity	1,055,846		1,055,846		$ 1,029,148
Net sales	458,859	$ 480,716	946,134	$ 979,261
Gross margin	97,329	75,515	198,944	179,327
Operating income	63,452	44,592	132,857	116,968
Depreciation and amortization	7,538	6,581	14,627	13,058
Interest expense	3,139	3,382	6,506	6,307
Income tax expense	1,576	3,568	2,578	8,093
Net earnings from continuing operations	104,431	36,523	165,572	101,417
Net earnings (loss) from discontinued operations	(3,990)	2,028	(1,178)	3,712
Net earnings	$ 100,441	$ 38,551	$ 164,394	$ 105,129

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2019	Nov. 30, 2019	Jun. 01, 2019
Leases [Abstract]
Operating lease ROU asset		$ 37,864	$ 42,200
Operating lease, liability		$ 41,266	$ 43,400
Impairment of ROU assets	$ 4,843

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 30, 2019	Nov. 30, 2019
Leases [Abstract]
Operating lease expense	$ 2,880	$ 6,222
Amortization of leased assets	65	110
Interest on lease liabilities	9	19
Total financing lease expense	74	129
Short-term lease expense	590	996
Variable lease expense	150	304
Total lease expense	$ 3,694	$ 7,651

Leases - Other Information Rela

Leases - Other Information Related to Operating Leases (Detail) $ in Thousands	6 Months Ended
	Nov. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows	$ 5,702
ROU assets obtained in exchange for lease liabilities	$ 3,722
Weighted-average remaining lease term (in years)	5 years 5 months 12 days
Weighted-average discount rate	3.44%
Operating cash flows	$ 19
Financing cash flows	173
ROU assets obtained in exchange for lease liabilities	$ 8,028
Weighted-average remaining lease term (in years)	3 years 1 month 13 days
Weighted-average discount rate	3.23%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Non-Cancelable Operating Leases (Detail) - USD ($) $ in Thousands	Nov. 30, 2019	Jun. 01, 2019	May 31, 2019
Leases [Abstract]
Year 1	$ 12,436		$ 10,774
Year 2	10,312		8,398
Year 3	8,014		5,428
Year 4	5,256		4,054
Year 5	3,265		2,098
Thereafter	6,554		2,637
Total	45,837		$ 33,389
Less: imputed interest	(4,571)
Present value of lease liabilities	41,266	$ 43,400
Year 1	384
Year 2	376
Year 3	369
Year 4	53
Total	1,182
Less: imputed interest	(56)
Present value of lease liabilities	$ 1,126

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Nov. 30, 2019	Aug. 31, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	Jun. 01, 2019	May 31, 2019
Long Lived Assets Held For Sale [Line Items]
Impairment of long-lived assets		$ 0		$ 0	$ 40,601	$ 2,381
Impairment of ROU assets			$ 4,843
Operating lease assets		37,864			37,864		$ 42,200
Engineered Cabs
Long Lived Assets Held For Sale [Line Items]
Impairment of long-lived assets			35,194
Impairment of ROU assets			905
Fixed asset net book value			1,469
Operating lease assets			3,938
Fair Value, Nonrecurring
Long Lived Assets Held For Sale [Line Items]
Fair market value of assets		$ 13,623			$ 13,623			$ 11,938
Fair Value, Nonrecurring | Long Lived Assets Held And Used
Long Lived Assets Held For Sale [Line Items]
Fair market value of assets	[1]							$ 1,238
Fair Value, Nonrecurring | Engineered Cabs
Long Lived Assets Held For Sale [Line Items]
Impairment of long-lived assets			35,194
Fair Value, Nonrecurring | Engineered Cabs | Long Lived Assets Held And Used
Long Lived Assets Held For Sale [Line Items]
Fair market value of assets			$ 12,860
[1]	During the fourth quarter of fiscal 2019, in connection with the closure of the CNG fuel systems facility in Salt Lake City, Utah, long-lived assets consisting primarily of technology-related intangible assets and fixed assets were written down to their estimated fair value of $238,000, resulting in an impairment charge of $2,167,000. During the fourth quarter of fiscal 2019, certain long-lived assets at our consolidated joint venture, WSP, were written down to their estimated fair value of $1,000,000, resulting in an impairment charge of $3,269,000.

Restructuring and Other Expen_3

Restructuring and Other Expense (Income), Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense (Income), Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Restructuring Cost and Reserve [Line Items]
Beginning Balance			$ 776
Expense (income)			(26)
Payments			(652)
Adjustments			(8)
Ending Balance	$ 90		90
Net loss on sale of assets			431
Restructuring and other expense (income), net	(50)	$ 402	405	$ (534)
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance			774
Expense (income)			0
Payments			(596)
Adjustments			(89)
Ending Balance	89		89
Facility Exit And Other Costs
Restructuring Cost and Reserve [Line Items]
Beginning Balance			2
Expense (income)			(26)
Payments			(56)
Adjustments			81
Ending Balance	$ 1		$ 1

Restructuring and Other Expen_4

Restructuring and Other Expense (Income), Net - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 01, 2019	Nov. 30, 2019
Restructuring Cost and Reserve [Line Items]
Net loss on sale of assets		$ 431
Other Non-significant Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Facility exit costs reduction		(26)
Cabs Joint Venture
Restructuring Cost and Reserve [Line Items]
Net gain on deconsolidation	$ 50
Cryogenics
Restructuring Cost and Reserve [Line Items]
Net proceeds from sale of business		8,295
Net loss on sale of assets		$ 481

Contingent Liabilities and Co_3

Contingent Liabilities and Commitments - Summary of Progression of Liabilities (Detail) - Tank Replacement Costs $ in Thousands	6 Months Ended
	Nov. 30, 2019USD ($)
Loss Contingencies [Line Items]
Beginning balance	$ 8,500
Expense	0
Payments	(211)
Ending balance	$ 8,289

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2019USD ($)
Stand-by Letters of Credit
Guarantor Obligations [Line Items]
Letter of credit amount outstanding	$ 12,800,000
Drawn amount of letter of credit outstanding	0
Operating Lease of Aircraft
Guarantor Obligations [Line Items]
Maximum potential obligation	$ 6,914,000

Debt and Receivables Securiti_2

Debt and Receivables Securitization - Additional Information (Detail) € in Thousands	Aug. 30, 2019USD ($)	Aug. 23, 2019EUR (€)	Jan. 15, 2019	Feb. 16, 2018	Nov. 30, 2019USD ($)	Nov. 30, 2018USD ($)	Nov. 30, 2019USD ($)	Nov. 30, 2018USD ($)	Aug. 23, 2019USD ($)subsidarie	Aug. 23, 2019EUR (€)subsidarie
Debt And Receivables Securitization [Line Items]
Remaining borrowing capacity					$ 499,550,000		$ 499,550,000
Unamortized portion of debt issuance costs					131,000		131,000
Debt Issuance Costs, Net									$ 134,000
Number of European subsidiaries | subsidarie									2	2
Loss on extinguishment of debt	$ 4,034,000				0	$ 0	4,034,000	$ 0
Securities Sold under Agreements to Repurchase
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity					50,000,000		50,000,000
Borrowings outstanding					0		$ 0
Number of days past due trade accounts receivables are ineligible for securitization							90 days
Maximum undivided ownership interests WRC may sell without recourse on revolving basis							$ 50,000,000
Senior Notes Series A 1.56%
Debt And Receivables Securitization [Line Items]
Principal amount | €										€ 36,700
Debt, interest rate									1.56%	1.56%
Debt instrument, maturity date		Aug. 23, 2031
Debt to be repaid | €		€ 30,000
Debt instrument payments date		Aug. 23, 2029
Remaining debt to repaid | €		€ 6,700
Senior Notes Series B
Debt And Receivables Securitization [Line Items]
Principal amount | €										€ 55,000
Debt, interest rate									1.90%	1.90%
Debt instrument, maturity date		Aug. 23, 2034
Debt to be repaid | €		€ 23,300
Debt instrument payments date		Aug. 23, 2031
Remaining debt to repaid | €		€ 31,700
Senior Notes Six Point Five Zero Percent Due April Fifteen Twenty Twenty
Debt And Receivables Securitization [Line Items]
Debt, interest rate	6.50%
Debt instrument, maturity date	Apr. 15, 2020
Principal amount of debt redeemed	$ 150,000,000
Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period							1 year
Unsecured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity					500,000,000		$ 500,000,000
Maturity date				2023-02
Borrowings outstanding					0		0
Stand-by Letters of Credit
Debt And Receivables Securitization [Line Items]
Letter of credit amount outstanding					12,800,000		12,800,000
Drawn amount of letter of credit outstanding							0
Letter of Credit
Debt And Receivables Securitization [Line Items]
Letter of credit amount outstanding					$ 450,000		$ 450,000
AR Facility | Securities Sold under Agreements to Repurchase
Debt And Receivables Securitization [Line Items]
Maturity date			2020-01

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Summary of Tax Effects on Each Component of OCI (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2019	Aug. 31, 2019	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2019	Nov. 30, 2018
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ 6,662		$ (6,638)		$ 11,444	$ (10,333)
Foreign currency translation, net of tax	6,662		(6,638)		11,444	(10,333)
Pension liability adjustment, before tax	117				1,421
Pension liability adjustment, tax	(22)				(313)	(97)
Pension liability adjustment, net of tax	95				1,108	(97)
Cash flow hedges, before tax	4,016		(6,066)		691	(8,593)
Cash flow hedges, tax	(803)		1,404		(117)	1,961
Cash flow hedges, net of tax	3,213		(4,662)		574	(6,632)
Other comprehensive loss, before tax	10,795		(12,704)		13,556	(18,926)
Other comprehensive loss, tax	(825)		1,404		(430)	1,864
Other comprehensive income (loss)	$ 9,970	$ 3,156	$ (11,300)	$ (5,762)	$ 13,126	$ (17,062)

Changes in Equity - Summary of

Changes in Equity - Summary of Changes in Equity by Component and in Total (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2019	Aug. 31, 2019	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2019	Nov. 30, 2018
Balance	$ 907,442	$ 948,394	$ 1,037,374	$ 1,036,375	$ 948,394	$ 1,036,375
Net earnings (loss)	56,922	(2,455)	37,792	56,958
Other comprehensive income (loss)	9,970	3,156	(11,300)	(5,762)	13,126	(17,062)
Common shares issued, net of withholding tax	(3,811)	(3,213)	(658)	(4,091)
Common shares in NQ plans	239	74	306	152
Stock-based compensation	2,880	4,545	3,730	4,838
Purchases and retirement of common shares		(29,599)	(63,581)	(36,852)
Cash dividends declared	(13,446)	(13,460)	(13,401)	(13,668)
Dividends to noncontrolling interest	(1,453)		(4,007)	(2,320)
Balance	958,743	907,442	986,255	1,037,374	958,743	986,255
Accounting Standards Update 2014-09
ASC 606 transition adjustment				1,744
Additional Paid-in Capital
Balance	280,769	283,177	292,488	295,592	283,177	295,592
Net earnings (loss)	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Common shares issued, net of withholding tax	(3,811)	(3,213)	(658)	(4,091)
Common shares in NQ plans	239	74	306	152
Stock-based compensation	2,880	4,545	3,730	4,838
Purchases and retirement of common shares		(3,814)	(7,540)	(4,003)
Cash dividends declared	0	0	0	0
Dividends to noncontrolling interest	0		0	0
Balance	280,077	280,769	288,326	292,488	280,077	288,326
Additional Paid-in Capital | Accounting Standards Update 2014-09
ASC 606 transition adjustment				0
AOCI Attributable to Parent
Balance	(40,308)	(43,464)	(20,325)	(14,580)	(43,464)	(14,580)
Net earnings (loss)	0	0	0	0
Other comprehensive income (loss)	9,970	3,156	(11,245)	(5,745)
Common shares issued, net of withholding tax	0	0	0	0
Common shares in NQ plans	0	0	0	0
Stock-based compensation	0	0	0	0
Purchases and retirement of common shares		0	0	0
Cash dividends declared	0	0	0	0
Dividends to noncontrolling interest	0		0	0
Balance	(30,338)	(40,308)	(31,570)	(20,325)	(30,338)	(31,570)
AOCI Attributable to Parent | Accounting Standards Update 2014-09
ASC 606 transition adjustment				0
Retained Earnings
Balance	547,512	591,533	647,356	637,757	591,533	637,757
Net earnings (loss)	52,086	(4,776)	34,002	54,942
Other comprehensive income (loss)	0	0	0	0
Common shares issued, net of withholding tax	0	0	0	0
Common shares in NQ plans	0	0	0	0
Stock-based compensation	0	0	0	0
Purchases and retirement of common shares		(25,785)	(56,041)	(32,849)
Cash dividends declared	(13,446)	(13,460)	(13,401)	(13,668)
Dividends to noncontrolling interest	0		0	0
Balance	586,152	547,512	611,916	647,356	586,152	611,916
Retained Earnings | Accounting Standards Update 2014-09
ASC 606 transition adjustment				1,174
Parent
Balance	787,973	831,246	919,519	918,769	831,246	918,769
Net earnings (loss)	52,086	(4,776)	34,002	54,942
Other comprehensive income (loss)	9,970	3,156	(11,245)	(5,745)
Common shares issued, net of withholding tax	(3,811)	(3,213)	(658)	(4,091)
Common shares in NQ plans	239	74	306	152
Stock-based compensation	2,880	4,545	3,730	4,838
Purchases and retirement of common shares		(29,599)	(63,581)	(36,852)
Cash dividends declared	(13,446)	(13,460)	(13,401)	(13,668)
Dividends to noncontrolling interest	0		0	0
Balance	835,891	787,973	868,672	919,519	835,891	868,672
Parent | Accounting Standards Update 2014-09
ASC 606 transition adjustment				1,174
Noncontrolling Interest
Balance	119,469	117,148	117,855	117,606	117,148	117,606
Net earnings (loss)	4,836	2,321	3,790	2,016
Other comprehensive income (loss)	0	0	(55)	(17)
Common shares issued, net of withholding tax	0	0	0	0
Common shares in NQ plans	0	0	0	0
Stock-based compensation	0	0	0	0
Purchases and retirement of common shares		0	0	0
Cash dividends declared	0	0	0	0
Dividends to noncontrolling interest	(1,453)		(4,007)	(2,320)
Balance	$ 122,852	$ 119,469	$ 117,583	117,855	$ 122,852	$ 117,583
Noncontrolling Interest | Accounting Standards Update 2014-09
ASC 606 transition adjustment				$ 570

Changes in Equity - Summary o_2

Changes in Equity - Summary of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 907,442	$ 1,037,374	$ 948,394	$ 1,036,375
Income tax effect		825	(1,404)	430	(1,864)
Balance		958,743	986,255	958,743	986,255
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(19,639)	(4,987)
Other comprehensive income (loss) before reclassifications				2,948	(10,261)
Reclassification adjustments to income	[1]			8,496	0
Income tax effect				0	0
Balance		(8,195)	(15,248)	(8,195)	(15,248)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(17,856)	(16,071)
Other comprehensive income (loss) before reclassifications				79	0
Reclassification adjustments to income	[1]			1,342	0
Income tax effect				(313)	(97)
Balance		(16,748)	(16,168)	(16,748)	(16,168)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
Accumulated Other Comprehensive Income Loss [Line Items]
Balance				(5,969)	6,478
Other comprehensive income (loss) before reclassifications				(5,975)	(4,530)
Reclassification adjustments to income	[1]			6,666	(4,063)
Income tax effect				(117)	1,961
Balance		(5,395)	(154)	(5,395)	(154)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(40,308)	(20,325)	(43,464)	(14,580)
Other comprehensive income (loss) before reclassifications				(2,948)	(14,791)
Reclassification adjustments to income	[1]			16,504	(4,063)
Income tax effect				(430)	1,864
Balance		$ (30,338)	$ (31,570)	$ (30,338)	$ (31,570)
[1]	(a) The statement of earnings classifications of amounts reclassified to income include: (1) Foreign currency translation – result of $7,454,000 related to the sale of our cryogenics business in Turkey; and $1,042,000 related to the impairment of our Nisshin joint venture. (2) Pension liability adjustment – result of the settlement of certain participant balances within the pension plan maintained by WAVE. (3) Cash flow hedges – disclosed in “NOTE Q – Derivative Instruments and Hedging Activities”.

Changes in Equity - Summary o_3

Changes in Equity - Summary of Changes in Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - Accumulated Foreign Currency Adjustment Attributable to Parent - USD ($)		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018
Reclassification adjustments to income	[1]	$ 8,496,000	$ 0
Nisshin
Reclassification adjustments to income		1,042,000
Cryogenics
Reclassification adjustments to income		$ 7,454,000
[1]	(a) The statement of earnings classifications of amounts reclassified to income include: (1) Foreign currency translation – result of $7,454,000 related to the sale of our cryogenics business in Turkey; and $1,042,000 related to the impairment of our Nisshin joint venture. (2) Pension liability adjustment – result of the settlement of certain participant balances within the pension plan maintained by WAVE. (3) Cash flow hedges – disclosed in “NOTE Q – Derivative Instruments and Hedging Activities”.

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 25, 2019	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense		$ 3,280	$ 3,456	$ 7,275	$ 6,612
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted				100,700
Non-qualified stock option, per share weighted average price				$ 38.91
Non-qualified stock option, fair value, per share price				$ 10.21
Pre-tax stock-based compensation, period of recognition				3 years
Pre-tax stock-based compensation expense				$ 1,029
Service-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition				3 years
Pre-tax stock-based compensation expense				$ 8,665
Restricted common shares, granted				230,600
Restricted common shares, fair value per share				$ 37.57
Market-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	5 years
Pre-tax stock-based compensation expense	$ 716
Restricted common shares, granted	50,000
Restricted common shares, fair value per share	$ 14.31
Common share awards vesting, minimum price per share	$ 65
Common share awards vesting, minimum consecutive days at stated price	90 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense				$ 2,160
Restricted common shares, granted				55,500
Pre-tax stock-based compensation, period of recognition				3 years

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions To Value Stock Options (Detail) - Non-Qualified Stock Options	6 Months Ended
	Nov. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.42%
Expected volatility	33.10%
Risk-free interest rate	1.86%
Expected term (years)	6 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions Used to Determine Grant Date Fair Value of Restricted Common Shares (Detail) - Market-Based Restricted Common Shares	Sep. 25, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.69%
Expected volatility	34.90%
Risk-free interest rate	1.60%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate	24.80%	23.40%

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Numerator (basic & diluted):
Net earnings attributable to controlling interest - income available to common shareholders	$ 52,086	$ 34,002	$ 47,310	$ 88,944
Denominator:
Denominator for basic earnings per share attributable to controlling interest - weighted average common shares	55,059	57,716	55,150	58,226
Effect of dilutive securities	1,013	1,622	1,055	1,787
Denominator for diluted earnings per share attributable to controlling interest - adjusted weighted average common shares	56,072	59,338	56,205	60,013
Basic earnings per share attributable to controlling interest	$ 0.95	$ 0.59	$ 0.86	$ 1.53
Diluted earnings per share attributable to controlling interest	$ 0.93	$ 0.57	$ 0.84	$ 1.48

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Earnings Per Share [Abstract]
Shares excluded from computation of diluted earnings per share	405,433	223,372	391,563	152,256

Segment Operations - Financial

Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	May 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 827,637	$ 958,226	$ 1,683,496	$ 1,946,333
Operating income (loss)	32,118	35,864	17,530	86,775
Impairment of long-lived assets	0	0	40,601	2,381
Restructuring and other expense (income), net	(50)	402	405	(534)
Total assets	2,408,961		2,408,961		$ 2,510,796
Steel Processing
Segment Reporting Information [Line Items]
Net sales	516,937	635,043	1,040,312	1,295,530
Operating income (loss)	17,172	25,016	23,340	64,676
Restructuring and other expense (income), net			(26)	(9)
Total assets	868,597		868,597		924,966
Pressure Cylinders
Segment Reporting Information [Line Items]
Net sales	290,136	294,447	594,532	594,800
Operating income (loss)	15,647	14,758	45,270	29,491
Impairment of long-lived assets				2,381
Restructuring and other expense (income), net		402		(525)
Total assets	1,143,256		1,143,256		1,123,115
Other
Segment Reporting Information [Line Items]
Net sales	20,564	28,736	48,652	56,003
Operating income (loss)	(701)	$ (3,910)	(51,080)	$ (7,392)
Impairment of long-lived assets			40,601
Restructuring and other expense (income), net	(50)		431
Total assets	$ 397,108		$ 397,108		$ 462,715

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - Heidtman Steel Products, Inc. - USD ($) $ in Thousands	Oct. 07, 2019	Nov. 30, 2019
Business Acquisition [Line Items]
Cash consideration for acquired entity	$ 29,593
Estimated useful life of intangible asset acquired		10 years

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration Paid and the Fair Value Assigned to the Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 07, 2019	Nov. 30, 2019	May 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 341,850	$ 334,607
Heidtman Steel Products, Inc.
Business Acquisition [Line Items]
Property, plant and equipment	$ 7,515
Finance lease assets	8,000
Other assets	725
Net identifiable assets	19,140
Goodwill	10,453
Purchase price	29,593
Heidtman Steel Products, Inc. | Customer Lists [Member]
Business Acquisition [Line Items]
Intangible assets	$ 2,900

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Nov. 30, 2019	May 31, 2019
Derivative [Line Items]
Asset Derivatives at Fair Value	$ 969	$ 2,414
Liability Derivatives at Fair Value	6,805	12,238
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	9	5
Liability Derivatives at Fair Value	5,020	8,584
Derivatives Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	4,569	8,383
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	9	5
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	451	201
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	960	2,409
Liability Derivatives at Fair Value	1,785	3,654
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	960	2,409
Liability Derivatives at Fair Value	1,710	3,634
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	1,487	3,568
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	953	2,347
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value	7	62
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	223	66
Derivatives Not Designated As Hedging Instruments | Foreign Currency Exchange Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	$ 75	$ 20

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Nov. 30, 2019	May 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Impact to fair value of derivative assets and liabilities as a result of recognition on a net basis	$ 581	$ 220
Losses in accumulated other comprehensive income expected to be reclassified into net earnings	5,916
Losses in accumulated other comprehensive income expected to be reclassified into net earnings, tax	$ 1,863

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) $ in Thousands	6 Months Ended
	Nov. 30, 2019USD ($)
Commodity Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 45,247
Commodity Contracts | Minimum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	2019-12
Commodity Contracts | Maximum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	2021-09
Foreign Currency Exchange Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 3,901
Foreign Currency Exchange Contracts | Minimum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	2019-12
Foreign Currency Exchange Contracts | Maximum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	2020-03
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 40,824
Cash Flow Hedges | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date	2019-12
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date	2021-06

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Schedule of Derivatives Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (316)	$ (4,499)	$ (5,975)	$ (4,530)
Gain (Loss) Reclassified from AOCI into Income	(4,332)	1,567	(6,666)	4,063
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	10	(4,499)	(5,649)	(4,530)
Commodity Contracts | Cost of Sales
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income	(4,228)	1,565	(6,520)	4,108
Interest Rate Contract
Derivative [Line Items]
Gain (Loss) Recognized in OCI	(326)		(326)
Interest Rate Contract | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income	(7)	(34)	(127)	(81)
Foreign Currency Exchange Contracts | Miscellaneous Income Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income	$ (97)	$ 36	$ (19)	$ 36

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Derivative [Line Items]
Gain (Loss) Recognized in Net Earnings (Loss)	$ (1,658)	$ (1,920)	$ (4,005)	$ (5,623)
Commodity Contracts | Cost of Sales
Derivative [Line Items]
Gain (Loss) Recognized in Net Earnings (Loss)	(1,673)	(737)	(3,916)	(2,934)
Foreign Currency Exchange Contracts | Miscellaneous Income Expense
Derivative [Line Items]
Gain (Loss) Recognized in Net Earnings (Loss)	$ 15	$ (1,183)	$ (89)	$ (2,689)

Fair Value - Schedule of Assets

Fair Value - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Nov. 30, 2019	May 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		$ 969	$ 2,414
Liabilities		6,805	12,238
Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	969	2,414
Liabilities	[1]	6,805	12,238
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		969	2,414
Liabilities		6,805	12,238
Significant Other Observable Inputs (Level 2) | Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	969	2,414
Liabilities	[1]	$ 6,805	$ 12,238
[1]	The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ NOTE Q – Derivative Instruments and Hedging Activities

Fair Value - Assets Measured at

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Nonrecurring - USD ($) $ in Thousands		Nov. 30, 2019	May 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis		$ 13,623	$ 11,938
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis			11,938
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis		13,623
Investment In Unconsolidated Affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[1]	13,623	3,700
Investment In Unconsolidated Affiliate | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[1]		3,700
Investment In Unconsolidated Affiliate | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[1]	$ 13,623
Long Lived Assets Held And Used
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[2]		1,238
Long Lived Assets Held And Used | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[2]		1,238
Long Lived Assets Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[3]		7,000
Long Lived Assets Held For Sale | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset measured at fair value on non-recurring basis	[3]		$ 7,000
[1]	1) On November 1, 2019, in connection with the contribution of substantially all of the net assets of the Engineered Cabs business to a newly-formed Cabs joint venture, we obtained a 20% minority ownership interest. In accordance with the applicable accounting guidance, our minority ownership interest in the Cabs joint venture was recorded at its acquisition date fair value of $13,623,000 . During the first quarter of fiscal 2020, we determined our 10% minority ownership interest in our steel joint venture in China, Nisshin, was fully impaired based on the estimated recoverability of the related assets. During the fourth quarter of fiscal 2019, we determined our 10% minority ownership interest in our Nisshin joint venture was other than temporarily impaired due to current and projected operating losses. As a result, the investment had been written down to its estimated fair value of $3,700,000, resulting in an impairment charge of $4,017,000 within equity income of unconsolidated affiliates.
[2]	During the fourth quarter of fiscal 2019, in connection with the closure of the CNG fuel systems facility in Salt Lake City, Utah, long-lived assets consisting primarily of technology-related intangible assets and fixed assets were written down to their estimated fair value of $238,000, resulting in an impairment charge of $2,167,000. During the fourth quarter of fiscal 2019, certain long-lived assets at our consolidated joint venture, WSP, were written down to their estimated fair value of $1,000,000, resulting in an impairment charge of $3,269,000.
[3]	During the first quarter of fiscal 2019, changes in facts and circumstances related to the planned sale of our cryogenics business in Turkey, Worthington Aritas, resulted in our lowering the estimate of fair value less cost to sell to $7,000,000, generating an impairment charge of $2,381,000

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	Nov. 01, 2019	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018	May 31, 2019	Nov. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of ROU assets		$ 4,843
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets estimated fair value			$ 11,938		$ 11,938	$ 13,623
Fair Value, Nonrecurring | CNG fuel system facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets estimated fair value			238		238
Impairment charge			2,167
Nisshin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of ownership interest held in unconsolidated affiliates						10.00%
Impairment charge		$ 4,236			4,017
Nisshin | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets estimated fair value			3,700		3,700
Worthington Aritas | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets estimated fair value				$ 7,000
Impairment charge				$ 2,381
Worthington Specialty Processing | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets estimated fair value			1,000		$ 1,000
Impairment charge			$ 3,269
Noncontrolling Interest | Nisshin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of ownership interest held in unconsolidated affiliates		10.00%	10.00%		10.00%
Engineered Cabs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of ROU assets		$ 905
Engineered Cabs | Noncontrolling Interest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of ownership interest held in unconsolidated affiliates	20.00%
Fair value of acquisition date	$ 13,623
Engineered Cabs Paint Line
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge		1,469
Impairment of ROU assets		$ 3,938

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($) $ in Thousands	Nov. 30, 2019	May 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 731,433	$ 767,075
Long-term debt at carrying amount including current maturities	$ 698,803	$ 749,299

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event	Jan. 01, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Additional ownership interest acquired in joint venture		31.75%
Samuel Joint Venture
Subsequent Event [Line Items]
Percent of ownership interest held in unconsolidated affiliates	63.00%