Worthington Steel (WS) 10-K 2 Aug 24 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	May 31, 2024	Jul. 30, 2024	Dec. 01, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Trading Symbol	WS
Entity Registrant Name	WORTHINGTON STEEL, INC.
Entity Central Index Key	0001968487
Current Fiscal Year End Date	--05-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		50,391,154
Entity Public Float			$ 707,659,987
Entity File Number	001-41830
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	92-2632000
Entity Address, Address Line One	100 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	840-3462
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE: Selected portions of the Registrant’s definitive Proxy Statement for its Annual Meeting of Shareholders to be held on September 25, 2 024 (the “2024 Proxy Statement”), are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent provided herein.
Auditor Name	KPMG LLP
Auditor Location	Columbus, Ohio
Auditor Firm ID	185

Consolidated and Combined Balan

Consolidated and Combined Balance Sheets - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Current assets:
Cash and cash equivalents	$ 40.2	$ 32.7
Receivables, less allowances of $3.2 and $2.6 at May 31, 2024 and May 31, 2023, respectively	472.6	468
Inventories:
Raw materials	150.2	173.9
Work in process	176.8	164.1
Finished products	78.3	76.8
Total inventories	405.3	414.8
Income taxes receivable	4.2	4.3
Assets held for sale	2.9	3.4
Prepaid expenses and other current assets	76.6	57.7
Total current assets	1,001.8	980.9
Investment in unconsolidated affiliate	135	114.6
Operating lease - ROU assets	72.9	75.3
Goodwill	79.6	78.6
Other intangible assets, net of accumulated amortization of $45.3 and $38.9 at May 31, 2024 and May 31, 2023, respectively	77	83.4
Deferred income taxes	8.5	6.3
Other assets	16.8	10.9
Property, plant and equipment:
Land	37.9	37.6
Buildings and improvements	177.1	168.6
Machinery and equipment	893.8	847.5
Construction in progress	83.6	20.3
Total property, plant and equipment	1,192.4	1,074
Less: accumulated depreciation	717.6	659.6
Total property, plant and equipment, net	474.8	414.4
Total assets	1,866.4	1,764.4
Current liabilities:
Accounts payable	380.4	402.2
Short-term borrowings	148	2.8
Accrued compensation, contributions to employee benefit plans and related taxes	52.8	31.9
Dividends payable	8.7	0
Other accrued items	15.7	15.6
Current operating lease liabilities	7.6	5.9
Income taxes payable	5.2	0
Current maturities of long-term debt due to the Former Parent	0	20
Total current liabilities	618.4	478.4
Other liabilities	34.3	33.6
Noncurrent operating lease liabilities	68.3	71.7
Deferred income taxes, net	27.9	26.1
Total liabilities	748.9	609.8
Preferred shares, without par value; authorized - 1,000,000 shares; issued and outstanding - none
Common shares, without par value; authorized - 150,000,000 shares; issued and outstanding, 2024 - 49,331,514 shares, 2023 - 100 shares
Additional paid-in capital	905.3	0
Retained earnings	86.1	0
Net Investment by Former Parent	0	1,031.1
Accumulated other comprehensive loss, net of taxes of $(1.7) and $(2.6) at May 31, 2024 and May 31, 2023, respectively	(6.1)	(2.1)
Total shareholders' equity - controlling interest	985.3	1,029
Noncontrolling interests	132.2	125.6
Total equity	1,117.5	1,154.6
Total liabilities and equity	$ 1,866.4	$ 1,764.4

Consolidated and Combined Bal_2

Consolidated and Combined Balance Sheets (Parenthetical) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowances	$ 3.2	$ 2.6
Other intangible assets, accumulated amortization	$ 45.3	$ 38.9
Preferred shares, without par value
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Common stock, without par value
Common shares, authorized	150,000,000	150,000,000
Common shares, shares issued	49,331,514	100
Common shares, shares outstanding	49,331,514	100
Accumulated other comprehensive loss, taxes	$ (1.7)	$ (2.6)

Consolidated and Combined State

Consolidated and Combined Statements of Earnings - USD ($) shares in Millions		12 Months Ended
		May 31, 2024	May 31, 2023	May 31, 2022
Income Statement [Abstract]
Net sales		$ 3,430,600,000	$ 3,607,700,000	$ 4,068,900,000
Cost of goods sold		2,990,800,000	3,271,200,000	3,673,400,000
Gross margin		439,800,000	336,500,000	395,500,000
Selling, general and administrative expense		224,400,000	200,800,000	180,300,000
Impairment of long-lived assets		1,400,000	2,100,000	3,100,000
Restructuring and other income, net		0	(4,200,000)	(14,500,000)
Separation costs		19,500,000	17,500,000	0
Operating income		194,500,000	120,300,000	226,600,000
Other income (expense):
Miscellaneous income, net		5,300,000	3,700,000	900,000
Interest expense, net		(6,000,000)	(3,000,000)	(3,000,000)
Equity in net income of unconsolidated affiliate		22,400,000	7,700,000	29,800,000
Earnings before income taxes		216,200,000	128,700,000	254,300,000
Income tax expense		46,100,000	29,000,000	54,000,000
Net earnings		170,100,000	99,700,000	200,300,000
Net earnings attributable to noncontrolling interests	[1]	15,400,000	12,600,000	19,900,000
Net earnings attributable to controlling interest		$ 154,700,000	$ 87,100,000	$ 180,400,000
Basic
Weighted average common shares outstanding		49.3	49.3	49.3
Earnings per common share attributable to controlling interest		$ 3.14	$ 1.77	$ 3.66
Diluted
Weighted average common shares outstanding		49.8	49.3	49.3
Earnings per common share attributable to controlling interest		$ 3.11	$ 1.77	$ 3.66
[1] Net earnings attributable to noncontrolling interests are not taxable to the Company.

Consolidated and Combined Sta_2

Consolidated and Combined Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 170.1	$ 99.7	$ 200.3
Other comprehensive income (loss):
Foreign currency translation, net of tax	(1.3)	(6.8)	(3.3)
Pension liability adjustment, net of tax	2.4	(0.7)	6.6
Cash flow hedges, net of tax	(5.1)	3.5	(39.8)
Other comprehensive loss	(4)	(4)	(36.5)
Comprehensive income	166.1	95.7	163.8
Comprehensive income attributable to noncontrolling interests	15.4	12.6	19.9
Comprehensive income attributable to controlling interest	$ 150.7	$ 83.1	$ 143.9

Consolidated and Combined Sta_3

Consolidated and Combined Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Worthington Taylor, LLC	Common Shares	Additional Paid-in Capital	Net Investment by the Former Parent	Accumulated Other Comprehensive Income (Loss), Net of Tax	Retained Earnings	Total	Noncontrolling Interests	Noncontrolling Interests Worthington Taylor, LLC
Balance at May. 31, 2021	$ 814.8		$ 0	$ 0	$ 622.9	$ 38.4	$ 0	$ 661.3	$ 153.5
Balance (in shares) at May. 31, 2021			0
Net earnings	200.3				180.4			180.4	19.9
Other comprehensive loss	(36.5)					(36.5)		(36.5)
Transfers from the Former Parent, net	328				328			328
Dividends to noncontrolling interests	(35.2)								(35.2)
Purchase of noncontrolling interest in Worthington Taylor, LLC		$ (5)								$ (5)
Balance at May. 31, 2022	1,266.4		$ 0	0	1,131.3	1.9	0	1,133.2	133.2
Balance (in shares) at May. 31, 2022			0
Net earnings	99.7				87.1			87.1	12.6
Other comprehensive loss	(4)					(4)		(4)
Transfers from (to) the Former Parent, net	(187.3)				(187.3)			(187.3)
Dividends to noncontrolling interests	(20.2)								(20.2)
Balance at May. 31, 2023	1,154.6		$ 0	0	1,031.1	(2.1)	0	1,029	125.6
Balance (in shares) at May. 31, 2023			0
Net earnings	170.1				52.5		102.2	154.7	15.4
Other comprehensive loss	(4)					(4)		(4)
Distribution to the Former Parent in connection with the Separation	(150)			(150)				(150)
Transfers from (to) the Former Parent, net	(32.7)			11.4	(44.1)			(32.7)
Dividends to noncontrolling interests	(8.8)								(8.8)
Transfers of Net Investment by the Former Parent to Additional Paid-in Capital	0			1,039.5	(1,039.5)
Transfers of Net Investment by the Former Parent to Additional Paid-in Capital (in shares)			49,286,517
Common shares issued, net of withholding tax	0.2			0.2				0.2
Common shares issued, net of withholding tax (in shares)			44,997
Stock-based compensation	4.2			4.2				4.2
Cash dividends declared ($0.32) per common share	(16.1)						(16.1)	(16.1)
Balance at May. 31, 2024	$ 1,117.5		$ 0	$ 905.3	$ 0	$ (6.1)	$ 86.1	$ 985.3	$ 132.2
Balance (in shares) at May. 31, 2024			49,331,514

Consolidated and Combined Sta_4

Consolidated and Combined Statements of Shareholders' Equity (Parenthetical)	12 Months Ended
	May 31, 2024 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividend declared, per share	$ 0.32

Consolidated and Combined Sta_5

Consolidated and Combined Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Operating activities:
Net earnings	$ 170.1	$ 99.7	$ 200.3
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	65.3	69.6	59.5
Impairment of long-lived assets	1.4	2.1	3.1
Provision for (benefit from) deferred income taxes	1.1	(9.7)	13.6
Bad debt expense	1.1	1.6	0.7
Equity in net income of unconsolidated affiliate, net of distributions	(20.4)	4.8	(27.3)
Net (gain) loss on sale of assets	1	(3.3)	(15.1)
Stock-based compensation	10.3	10.4	8.7
Changes in assets and liabilities, net of impact of acquisitions:
Receivables	(1.4)	113	(109.7)
Inventories	16.4	154.5	(50.7)
Accounts payable	(26.7)	(124.3)	(14.9)
Accrued compensation and employee benefits	7.9	(5.8)	(12.3)
Other operating items, net	(26.6)	2.4	(16.4)
Net cash provided by operating activities	199.5	315	39.5
Investing activities:
Investment in property, plant and equipment	(103.4)	(45.5)	(36.4)
Acquisitions, net of cash acquired	(21)	0	(376.7)
Proceeds from sale of assets, net of selling costs	1.2	23.3	24.6
Purchase of noncontrolling interest in Worthington Taylor, LLC	0	0	(6.8)
Net cash used in investing activities	(123.2)	(22.2)	(395.3)
Financing activities:
Distribution to the Former Parent in connection with the Separation	(150)	0	0
Transfers from (to) the Former Parent, net	(47.6)	(199.8)	316.9
Proceeds from (repayments of) short-term borrowings, net	127.2	(45.2)	41.7
Proceeds from revolving credit facility borrowings - swing loans	266.1	0	0
Repayment of revolving credit facility borrowings - swing loans	(248.1)	0	0
Proceeds from issuance of common shares, net of tax withholdings	0.3	0	0
Proceeds from long-term debt from the Former Parent	0	0	50
Principal payments on long-term debt to the Former Parent	0	(15)	(15)
Payments to noncontrolling interests	(8.8)	(20.2)	(35.2)
Dividends paid	(7.9)	0	0
Net cash provided by (used in) financing activities	(68.8)	(280.2)	358.4
Increase in cash and cash equivalents	7.5	12.6	2.6
Cash and cash equivalents at beginning of year	32.7	20.1	17.5
Cash and cash equivalents at end of year	$ 40.2	$ 32.7	$ 20.1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 154.7	$ 87.1	$ 180.4

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	May 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	May 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Description of Business, The Se

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation	12 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation	Note A – Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation Description of the Business The Company is one of North America’s premier value-added steel processors with the ability to provide a diversified range of products and services that span a variety of end markets. The Company maintains market leading positions in the North American carbon flat-rolled steel and tailor welded blank industries and is one of the largest global producers of electrical steel laminations. For nearly 70 years , the Company has been delivering high quality steel processing capabilities across a variety of end-markets including automotive, heavy truck, agriculture, construction, and energy. The Company serves its customers primarily by processing flat-rolled steel coils, which are sourced primarily from various North American steel mills, into the precise type, thickness, length, width, shape, and surface quality required by customer specifications. The Company sells steel on a direct basis, whereby it is exposed to the risk and rewards of ownership of the material while in its possession. Additionally, the Company toll processes steel under a fee for service arrangement whereby it processes customer-owned material. The Company’s manufacturing facilities further benefit from the flexibility to scale between direct and tolling services based on demand dynamics throughout the year. Fiscal Periods The Company’s fiscal year and fourth quarter ends on May 31, with fiscal 2024 ending on May 31, 2024, fiscal 2023 ending on May 31, 2023, and fiscal 2022 ending on May 31, 2022. The Company’s other quarterly periods end on the final day of August (first quarter), November (second quarter) and February (third quarter). The Separation On the Separation Date at 12:01 a.m. Eastern Time, Worthington Enterprises completed the Separation and Worthington Steel became a stand-alone publicly traded company. The Separation was achieved through the Distribution. Each holder of record of Worthington Enterprises common shares received one common share of Worthington Steel for every one Worthington Enterprises common share held at the close of business on the Record Date. In connection with the Separation, Worthington Steel made a cash distribution to Worthington Enterprises of $ 150.0 million from the issuances of certain debt (see Note H – Debt). Additionally, as part of the Separation, Worthington Enterprises made a contribution of certain assets and liabilities, including $ 3.8 million of cash and cash equivalents, to Worthington Steel. Worthington Enterprises retained no ownership interest in Worthington Steel following the Separation. Also on the Separation Date, Worthington Steel’s common shares began trading on the NYSE under the ticker symbol “WS.” Agreements with the Former Parent and Separation Costs On November 30, 2023, in connection with the Separation, the Company entered into several agreements with the Former Parent that govern the relationship between the Former Parent and the Company following the Distribution, including the Separation and Distribution Agreement, Tax Matters Agreement, Employee Matters Agreement, Steel Supply Agreement, and Transition Services Agreement. Direct and incremental costs incurred in connection with the Separation, including (a) fees paid to third parties for audit, advisory, and legal services to effect the Separation, (b) non-recurring employee-related costs, such as retention bonuses, and (c) non-recurring functional costs associated with shared corporate functions (collectively, the “Separation Costs”) are presented separately in the Company’s consolidated and combined statements of earnings. Separation Costs totaled $ 19.5 million and $ 17.5 million for fiscal 2024 and fiscal 2023 , respectively. No Separation Costs were incurred during fiscal 2022. Basis of Presentation – Subsequent to Separation The Company’s financial statements for the periods until the Separation on December 1, 2023, are combined financial statements prepared on a carve-out basis as discussed below. The Company’s financial statements for the periods beginning on and after December 1, 2023, are consolidated financial statements based on the reported results of the Company as a stand-alone company. Accordingly, the third quarter of fiscal 2024 and onward included consolidated and combined financial statements, whereas all prior periods included combined financial statements. The accompanying consolidated and combined financial statements have been prepared in conformity with GAAP. The consolidated and combined financial statements may not be indicative of the Company’s future performance and do not necessarily reflect what the financial position, results of operations, and cash flows would have been had it operated as an independent company during all of the periods presented. Basis of Presentation – Prior to Separation Prior to the Separation on December 1, 2023, the Company operated as a business of the Former Parent. Accordingly, the combined historical financial statements for the periods presented prior to and as of November 30, 2023, are prepared on a “carve-out” basis. The Company’s combined financial statements are prepared on a carve-out basis using the consolidated financial statements and accounting records of the Former Parent in accordance with GAAP. The Company’s combined financial statements include the historical operations that comprise its business and reflect significant assumptions and allocations as well as certain assets and liabilities that have historically been held at the Former Parent’s corporate level but are specifically identifiable or otherwise attributable to the Company. The carve-out combined financial statements may not include all expenses that would have been incurred had it existed as a separate, stand-alone entity during the periods presented. The income tax provision in the carve-out combined statements of earnings has been calculated as if the Company was operating on a stand-alone basis and filed separate tax returns in the jurisdictions in which it operates. Therefore, cash tax payments and items of current and deferred taxes may not be reflective of the Company’s actual tax balances prior to or subsequent to the carve-out. Transactions and accounts which have occurred within the Company have been eliminated, based on historical intracompany activity. The Former Parent’s net investment in these operations, including intercompany transactions between the Former Parent and the Company, are reflected as Net Investment by the Former Parent on the accompanying consolidated and combined financial statements. The Company’s consolidated and combined financial statements include certain costs of doing business incurred by the Former Parent at the corporate level. These costs are for (1) corporate support functions provided on a centralized basis, including information technology, human resources, finance, and corporate operations, amongst others, (2) profit sharing and bonuses, and (3) respective surpluses and shortfalls of various planned insurance expenses. These costs are included in the consolidated and combined statements of earnings, primarily within SG&A. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remaining allocated using related drivers associated with the nature of the business, such as, headcount or profitability, considering the characteristics of each respective cost. Management believes the assumptions regarding the allocation of the Former Parent’s general corporate expenses are reasonable. All other third party-debt and related interest expense not directly attributable to the Company have been excluded from the consolidated and combined financial statements because it is not the legal obligor of the debt and the borrowings are not specifically identifiable to the Company. Additionally, as described in “Note S – Related Party Transactions,” debt and related interest expense between the Former Parent and TWB has been attributed to the Company, as the Company is both the legal obligor and directly benefited from the borrowings. Additionally, the Former Parent incurred Separation Costs that have been directly attributed to the Company to the extent incurred to its direct benefit and are presented separately in the Company’s consolidated and combined statements of earnings. The Company’s consolidated and combined financial statements may not include all of the actual expenses that would have been incurred and may not reflect its consolidated and combined results of earnings, balance sheet, and cash flows had it operated as a stand-alone company during the periods presented. Management considers these cost allocations to be reasonably reflective of the Company’s utilization of the Former Parent’s corporate support services. Actual costs that would have been incurred if the Company had been a stand-alone company may have been different than these estimates during the periods presented. The Former Parent utilized a centralized cash management program to manage cash for the majority of its entities. For entities that were enrolled in the program, all cash was swept into a cash pool. Accordingly, the cash and cash equivalents held by the Former Parent at the corporate level were not attributed to the Company for any of the periods presented. The Company’s foreign operations did not participate in the centralized cash management program. These cash amounts are specifically attributable to the Company and therefore are reflected in the accompanying consolidated and combined balance sheets. Transfers of cash, both to and from the Former Parent’s centralized cash management program, are reflected as a component of Net Investment by the Former Parent on the accompanying consolidated and combined balance sheets and as a financing activity on the accompanying consolidated and combined statements of cash flows. Net Investment by the Former Parent Net Investment by the Former Parent in the consolidated and combined balance sheets and consolidated and combined statements of equity represents the Former Parent’s historical investment in the Company, the net effect of transactions with and allocations from the Former Parent, and the Company’s retained earnings. All transactions reflected in Net Investment by the Former Parent in the accompanying consolidated and combined balance sheets have been considered as financing activities for purposes of the consolidated and combined statements of cash flows. For additional information, see “Basis of Presentation – Prior to Separation” above and “Note S – Related Party Transactions.” Consolidation, Consolidated Subsidiaries and Investment in Unconsolidated Affiliate Consolidation: The Company’s consolidated and combined financial statements include the accounts of Worthington Steel and its consolidated subsidiaries. The Company’s investment in unconsolidated affiliate, Serviacero Worthington, is accounted for using the equity method. Material intercompany accounts and transactions are eliminated. The Company owns controlling interests in the following three operating joint ventures: Spartan ( 52 %); TWB ( 55 %); and WSCP ( 63 %). The Company also owns a controlling interest ( 51 %) in WSP, which became a non-operating joint venture on October 31, 2022, when its remaining net assets were sold. These joint ventures are consolidated with the equity owned by the other joint venture members shown as noncontrolling interests in the Company’s consolidated and combined balance sheets, and their portions of net earnings and OCI shown as net earnings or comprehensive income attributable to noncontrolling interests in the Company’s consolidated and combined statements of earnings and comprehensive income, respectively. The Company owns a noncontrolling interest ( 50 %) in an unconsolidated joint venture, Serviacero Worthington. The investment in the Company’s unconsolidated affiliate is accounted for using the equity method with the Company’s proportionate share of income or loss recognized within equity in net income of unconsolidated affiliate (“equity income”) in its consolidated statements of earnings. See further discussion of the Company’s unconsolidated affiliate in “ Note C – Investment in Unconsolidated Affiliate.” Organizational Structure and Operating Segment The Company’s operations are managed principally on a products and services basis under a single group organizational structure. Following the Separation, the financial information reviewed by the Company’s CODM for the purpose of assessing performance and allocating resources has been presented as a single component, or operating segment, and comprises all of the Company’s operations. The Company’s CODM is Worthington Steel’s CEO. Concentration of Net Sales The Company sells its products and services to a diverse customer base and a broad range of end markets. The automotive industry is the largest end market for the Company with sales representing 52 % , 50 % , and 48 % for fiscal 2024, fiscal 2023, and fiscal 2022, respectively. Sales to one automotive customer represented 14.6 % , 16.2 % , and 17.0 % for fiscal 2024, fiscal 2023, and fiscal 2022, respectively. Summary of Significant Accounting Policies Use of Estimates: The preparation of consolidated and combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated and combined financial statements and accompanying notes and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the consolidated and combined financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents: The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. At May 31, 2024 , cash and cash equivalents included cash held in banks, and short-term, highly liquid investments. Short-term investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy. Cash held in banks is measured in the fair value hierarchy using Level 1 inputs. Inventories: Inventories are valued at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method for all inventories. The assessment of net realizable value requires the use of estimates to determine cost to complete, normal profit margin and the ultimate selling price of inventory. The Company believes its inventories were valued appropriately as of May 31, 2024 and May 31, 2023 . Derivative Financial Instruments: The Company utilizes derivative financial instruments to manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative financial instruments includes commodity price risk. All derivative financial instruments are accounted for using mark-to-market accounting. The accounting for changes in the fair value of a derivative financial instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, if so, the reason for holding it. Gains and losses on fair value hedges are recognized in current period earnings within the same line as the underlying hedged item. Gains and losses on cash flow hedges are deferred as a component of accumulated other comprehensive income or loss (“AOCI”) and recognized in earnings at the time the hedged item affects earnings, within the same financial statement caption as the underlying hedged item. Classification in our consolidated and combined statements of earnings of gains and losses related to derivative financial instruments that do not qualify for hedge accounting is determined based on the underlying intent of the instruments. Cash flows related to derivative financial instruments are generally classified as operating activities in the consolidated and combined statements of cash flows. In order for hedging relationships to qualify for hedge accounting under current accounting guidance, the Company formally documents each hedging relationship and its risk management objective. Derivative financial instruments are executed only with highly-rated counterparties. No credit loss is anticipated on existing instruments, and no material credit losses have been experienced to date. The Company monitors its positions, as well as the credit ratings of counterparties to those positions. The Company discontinues hedge accounting when it is determined that a derivative financial instrument is no longer highly effective in offsetting the hedged risk, expires or is sold, is terminated or is no longer designated as a hedging instrument because it is unlikely that a forecasted transaction will occur or the Company determines that designation as a hedging instrument is no longer appropriate. In all situations in which hedge accounting is discontinued and the derivative financial instrument is retained, the Company continues to carry the derivative financial instrument at its fair value on the consolidated and combined balance sheet and recognizes any subsequent changes in its fair value in net earnings immediately. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and immediately recognizes the gains and losses that were accumulated in AOCI. Refer to “Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding our consolidated and combined balance sheet location and the risk classification of the Company’s derivative financial instruments. Risks and Uncertainties : As of May 31, 2024, excluding our joint ventures, we operated 15 manufacturing facilities worldwide. We also held equity positions in four operating joint ventures, which operated 17 manufacturing facilities worldwide as of May 31, 2024. See “Concentration of Net Sales” section above for more information on the risk related to concentration of the markets in which the Company operates. A significant loss of, or decrease in, business from any of these customers could have an adverse effect on our consolidated net sales and financial results if we were not able to obtain replacement business. Also, the Company’s sales may be increasingly sensitive to deterioration in the financial condition of, or other adverse developments with respect to, one or more of our largest customers. As of May 31, 2024, approximately 21 % of the Company’s consolidated labor force was represented by collective bargaining units, all of which are located in jurisdictions outside of the U.S. where collective bargaining arrangements are customary. The concentration of credit risks from financial instruments related to the markets the Company serves is not expected to have a material adverse effect on the Company’s consolidated and combined financial position, cash flows or future results of operations. The Company’s principal raw material is flat-rolled steel, which is purchased from multiple primary steel producers. The steel industry as a whole has been cyclical, and at times availability and pricing can be volatile due to a number of factors beyond our control. This volatility can significantly affect the Company’s steel costs. In an environment of increasing prices for steel and other raw materials, in general, competitive conditions or contractual obligations may impact how much of the price increases the Company can pass on to customers. To the extent the Company is unable to pass on future price increases in raw materials to customers, financial results could be adversely affected. Also, if steel prices decrease, in general, competitive conditions or contractual obligations may impact how quickly the Company must reduce prices to customers, and the Company could be forced to use higher-priced raw materials to complete orders for which the selling prices have decreased, resulting in inventory holding losses. Declining steel prices could also require the Company to write down the value of inventories to reflect current net realizable value. Further, the number of suppliers has decreased in recent years due to industry consolidation and the financial difficulties of certain suppliers, and consolidation may continue. Accordingly, if delivery from a major steel supplier is disrupted, it may be more difficult to obtain an alternative supply than in the past. Receivables: The Company reviews its receivables on an ongoing basis to ensure that they are properly valued and collectible. Expected lifetime credit losses on receivables are recognized at the time of origination. The Company estimates the allowance for credit losses based on the expected future credit losses using the internal historical loss information and observable and forecasted macroeconomic data. The allowance for doubtful accounts is used to record the estimated risk of loss related to customers’ inability to pay. This allowance is maintained at a level that the Company considers appropriate based on factors that affect collectability, such as the financial health of customers, historical trends of charge-offs and recoveries and current economic and market conditions. As the Company monitors its receivables, it identifies customers that may have payment problems and adjusts the allowance accordingly, with the offset to SG&A. Account balances are charged off against the allowance when recovery is considered remote. The allowance for doubtful accounts increased $ 0.6 million during fiscal 2024 to $ 3.2 million . While the Company believes its allowance for doubtful accounts is adequate, changes in economic conditions, the financial health of customers and bankruptcy settlements could impact its future earnings. If the economic environment and market conditions deteriorate, particularly in the automotive and construction end markets where the Company’s exposure is greatest, additional reserves may be required. Property and Depreciation: Property, plant and equipment are carried at cost and depreciated using the straight-line method. Buildings and improvements are depreciated over 10 to 40 years and machinery and equipment are depreciated over 3 to 20 years . Depreciation expense was $ 58.5 million , $ 62.7 million and $ 54.2 million during fiscal 2024, fiscal 2023, and fiscal 2022, respectively. Accelerated depreciation methods are used for income tax purposes. The following table presents property, plant and equipment, net, by geographic region as of the end of the past two fiscal years: (In millions) 2024 2023 United States $ 328.4 $ 328.9 Canada 42.3 14.8 Mexico 58.7 36.1 Other 45.4 34.6 Total $ 474.8 $ 414.4 Goodwill and Other Long-Lived Assets: The Company uses the purchase method of accounting for all business combinations and recognize amortizable and indefinite-lived intangible assets separately from goodwill. The acquired assets and assumed liabilities in an acquisition are measured and recognized based on their estimated fair values at the date of acquisition, with goodwill representing the excess of the purchase price over the fair value of the identifiable net assets. A bargain purchase may occur, wherein the fair value of identifiable net assets exceeds the purchase price, and a gain is then recognized in the amount of that excess. Goodwill and intangible assets with indefinite lives are not amortized, but instead are tested for impairment annually, during the fourth quarter of each fiscal year, or more frequently if events or changes in circumstances indicate that impairment may be present. Application of goodwill impairment testing involves judgment, including but not limited to, the identification of reporting units and estimation of the fair value of each reporting unit. A reporting unit is defined as an operating segment or one level below an operating segment. The Company’s operations are organized as a single component, or operating segment. The Company’s reporting units, which are one level below the single operating segment, consist of: (1) Flat Rolled Steel Processing; (2) Electrical Steel; and (3) Laser Welding. Refer to “Note D – Goodwill and Other Long-Lived Assets” for additional information on the goodwill impairment. For goodwill and indefinite-lived intangible assets, the Company tests for impairment by first evaluating qualitative factors including macroeconomic conditions, industry and market considerations, cost factors, and overall financial performance. If there are no potential impairments raised from this evaluation, no further testing is performed. If, however, our qualitative analysis indicates it is more likely than not that the fair value is less than the carrying amount, a quantitative analysis is performed. The quantitative analysis compares the fair value of each reporting unit or indefinite-lived intangible asset to the related carrying amount, and an impairment loss is recognized in our consolidated statements of earnings equivalent to the excess of the carrying amount over the fair value. Fair value is determined based on discounted cash flows or appraised values, as appropriate. The Company’s policy is to perform a quantitative analysis of each reporting unit at least every three to five years. The Company performed its annual impairment evaluation of goodwill and other indefinite-lived intangible assets during the fourth quarter of fiscal 2024 and concluded that no impairment indicators were present. The Company reviews the carrying value of its long-lived assets, including intangible assets with finite useful lives, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable. Impairment testing involves a comparison of the sum of the undiscounted future cash flows of the asset or asset group to its respective carrying amount. If the sum of the undiscounted future cash flows exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the sum of the undiscounted future cash flows, then a second step is performed to determine the amount of impairment, if any, to be recognized. The impairment loss recognized is equal to the amount that the carrying value of the asset or asset group exceeds its fair value. Long-lived assets held for sale are reported at the lower of cost or fair value less costs to sell and are recorded in a single line in our consolidated balance sheets. The Company classifies assets as held for sale if it commits to a plan to sell the assets within one year and actively markets the assets in their current condition for a price that is reasonable in comparison to their estimated fair value. The Company’s impairment testing for both goodwill and other long-lived assets, including intangible assets with finite useful lives, is largely based on cash flow models that require significant judgment and require assumptions about future volume trends, revenue and expense growth rates; and, in addition, external factors such as changes in economic trends and cost of capital. Significant changes in any of these assumptions could impact the outcomes of the tests performed. See “Note D – Goodwill and Other Long-Lived Assets” for additional details regarding these assets and related impairment testing. Equity method investments: Investments in affiliated companies that the Company does not control, either through majority ownership or otherwise, are accounted for using the equity method. The Company reviews its equity method investment in Serviacero Worthington for impairment whenever events or changes in circumstances indicate that the carrying value of the investment might not be recoverable. Events and circumstances can include, but are not limited to: evidence the Company does not have the ability to recover the carrying value; the inability of the investee to sustain earnings; the current fair value of the investment is less than the carrying value; and other investors cease to provide support or reduce their financial commitment to the investee. If the fair value of the investment is less than the carrying value, and the fair value of the investment will not recover in the near term, then other-than-temporary impairment may exist. When the loss in value of an investment is determined to be other-than-temporary, the Company recognizes an impairment in the period the conclusion is made. Leases: The Company accounts for leases in accordance with GAAP, ASU Leases (Topic 842) (“Topic 842”). Under Topic 842, leases are categorized as operating or financing leases at inception. Lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease right of use (“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 that we will exercise such options. As most of our leases do not include an implicit rate, the Company uses its 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 SG&A depending on the underlying nature of the leased assets. For operating leases with variable payments dependent upon an index or rate that commenced subsequent to adoption of Topic 842, the Company applies the active index or rate as of the lease commencement date. Variable lease payments not based on an index or rate are not included in the operating lease liability as they cannot be reasonably estimated and are recognized in the period in which the obligation for those payments is incurred. Leases with a term of twelve months or less upon the commencement date are considered short-term leases, are not included on our consolidated and combined balance sheets and are expensed on a straight-line basis over the lease term. Refer to “Note R – Leases” for additional information on the adoption and impact of Topic 842. Stock-Based Compensation: As of May 31, 2024, the Company had stock-based compensation plans for its employees as well as its non-employee directors as described more fully in “Note K – Stock-Based Compensation.” All share-based awards, including grants of stock options and restricted common shares, are recorded as expense in the consolidated and combined statements of earnings over the vesting period based on their grant date fair values. Forfeitures are recognized as they occur. Revenue Recognition : Revenue is recognized in accordance with GAAP, ASU 2014-09, Revenue from Contracts with Customers (Topic 606) (“Topic 606”). Under this accounting guidance, the Company recognizes revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration the Company expects to receive for those goods or services, including any variable consideration. Returns and allowances are used to record estimates of returns or other allowances resulting from quality, delivery, discounts or other issues and are estimated based on historical trends and current market conditions, with the offset to net sales. Shipping and handling costs charged to customers are treated as fulfillment activities and are recorded in both net sales and cost of goods sold at the time control is transferred to the customer. Due to the short-term nature of the Company’s contracts with customers, we have elected to apply the practical expedients under Topic 606 to: (1) expense as incurred, incremental costs of obtaining a contract; and (2) not adjust the consideration for the effects of a significant financing component for contracts with an original expected duration of one year or less. When the Company satisfies (or partially satisfy) a performance obligation, prior to being able to invoice the customer, the Company recognizes an unbilled receivable when the right to consideration is unconditional and a contract asset when the right to consideration is conditional. Unbilled receivables and contract assets are included in receivables and prepaid expenses and other current assets, respectively, on the consolidated and combine

Revenue Recognition

Revenue Recognition	12 Months Ended
	May 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note B – Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration it expects to receive for those goods or services, including any variable consideration. The Company generates revenue by processing steel to the precise type, thickness, length, width, shape, and surface quality required by customer specification. The Company can also toll process steel for steel mills, large end-users and service centers. Toll processing revenue is recognized over time. All other revenue is recognized at a point in time, generally upon shipment. The following table summarizes net sales by product class for fiscal 2024, fiscal 2023 and fiscal 2022: (In millions) 2024 2023 2022 Product class Direct $ 3,269.4 $ 3,464.9 $ 3,923.1 Toll 161.2 142.8 145.8 Total $ 3,430.6 $ 3,607.7 $ 4,068.9 The following table summarizes the unbilled receivables at the end of fiscal 2024 and fiscal 2023: (In millions) Balance Sheet Classification 2024 2023 Unbilled receivables Receivables $ 5.6 $ 3.7 (1) There were no contract assets at either of the dates indicated above.

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliate	12 Months Ended
	May 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Affiliate	Note C – Investment in Unconsolidated Affiliate Investments in affiliated companies that we do not control, either through majority ownership or otherwise, are accounted for using the equity method. As of May 31, 2024 , the Company owns a noncontrolling interest ( 50 %) in one unconsolidated joint venture, Serviacero Worthington. The Company accounts for its investment in Serviacero Worthington using the equity method of accounting. Serviacero Worthington provides steel processing services, such as pickling, blanking, slitting, multi-blanking and cutting-to-length, to customers in a variety of industries including automotive, appliance and heavy equipment. We received distributions from Serviacero Worthington totaling $ 2.0 million in fiscal 2024, $ 12.5 million in fiscal 2023, and $ 2.5 million in fiscal 2022. The following table presents the financial position of Serviacero Worthington accounted for using the equity method as of May 31: (In millions) 2024 2023 Cash and cash equivalents $ 5.7 $ 12.2 Other current assets 274.7 238.2 Noncurrent assets 58.3 58.9 Total assets $ 338.7 $ 309.3 Current liabilities $ 64.7 $ 70.8 Other noncurrent liabilities 5.2 5.4 Equity 268.8 233.1 Total liabilities and equity $ 338.7 $ 309.3 The following table presents summarized financial information for Serviacero Worthington as of, and for the fiscal years ended May 31: (In millions) 2024 2023 2022 Net sales $ 604.1 $ 564.6 $ 620.3 Gross margin 70.4 21.5 96.9 Operating income 56.4 10.4 87.3 Depreciation and amortization 4.4 4.0 4.3 Interest expense - 0.3 0.2 Income tax expense (benefit) 8.4 ( 3.0 ) 25.1 Net earnings 44.8 15.5 59.6 The following table presents the net earnings of Serviacero Worthington attributable to the Company for the fiscal years ended May 31: (In millions) 2024 2023 2022 Equity in net income of unconsolidated affiliate $ 22.4 $ 7.7 $ 29.8 At May 31, 2024 and 2023, $ 56.4 million and $ 39.6 million , resp ectively, of our consolidated retained earnings represented undistributed earnings of Serviacero Worthington, net of tax.

Goodwill and Other Long-Lived A

Goodwill and Other Long-Lived Assets	12 Months Ended
	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Long-Lived Assets	Note D – Goodwill and Other Long-Lived Assets Goodwill The following table summarizes the changes in the carrying amount of goodwill during fiscal 2024 and fiscal 2023: (In millions) Total Balance at May 31, 2022 $ 80.0 Acquisitions and purchase accounting adjustments (1) ( 0.8 ) Translation adjustments ( 0.6 ) Balance at May 31, 2023 78.6 Acquisitions and purchase accounting adjustments (1) 1.1 Translation adjustments ( 0.1 ) Balance at May 31, 2024 $ 79.6 (1) For additional information regarding our acquisitions, refer to “ Note O – Acquisitions.” Other Intangible Assets Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives, which range from 3 to 20 y ears. The following table summarizes other intangible assets by class as of the end of the prior two fiscal years: 2024 2023 Accumulated Accumulated (In millions) Cost Amortization Cost Amortization Indefinite-lived intangible assets: Trademarks $ 5.2 $ - $ 5.2 $ - In-process research & development 1.3 - 1.3 - Total indefinite-lived intangible assets 6.5 - 6.5 - Definite-lived intangible assets: Customer relationships $ 102.8 $ 39.8 $ 102.8 $ 35.0 Non-compete agreements 2.0 2.0 2.0 1.9 Technology/know-how 11.0 3.5 11.0 2.0 Total definite-lived intangible assets 115.8 45.3 115.8 38.9 Total intangible assets $ 122.3 $ 45.3 $ 122.3 $ 38.9 Amortization expense totaled $ 6.3 million , $ 6.3 million , and $ 4.8 million in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Amortization expense for each of the next five fiscal years is estimated to be: (In millions) 2025 $ 6.1 2026 $ 5.8 2027 $ 5.8 2028 $ 5.8 2029 $ 5.5 Impairment of Long-Lived Assets Fiscal 2024 During fiscal 2024 , we lowered the estimate of fair value less costs to sell to reflect the expected scrap value of the WSCP toll processing equipment to $ 0.2 million, resulting in a pre-tax impairment charge of $ 1.4 million. Fiscal 2023 During fiscal 2023 , we committed to two separate plans to liquidate certain fixed assets: (1) idled equipment at the manufacturing facility in Taylor, Michigan; and (2) the net assets of WSCP’s toll processing facility in Cleveland, Ohio. As both asset groups have met the criteria for classification as assets held for sale, net assets in the amount of $ 2.6 million have been presented separately as assets held for sale on our combined balance sheet at May 31, 2023 . In accordance with the applicable accounting guidance, the net assets were measured at fair market value less costs to sell, resulting in an overall impairment charge of $ 2.1 million during fiscal 2023. Fiscal 2022 During the third quarter of fiscal 2022, management committed to plans to sell certain production equipment at the WSCP facility in Twinsburg, Ohio. As all of the criteria for classification of assets held for sale were met, the net assets were presented separately as assets held for sale on our combined balance sheet at May 31, 2022 . In accordance with the applicable accounting guidance, the net assets were written down to the fair value less costs to sell, resulting in an impairment charge of $ 3.1 million in fiscal 2022. These assets were subsequently sold in fiscal 2023 .

Restructuring and Other Income,

Restructuring and Other Income, Net	12 Months Ended
	May 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Income, Net	Note E – Restructuring and Other Income, Net The Company considers restructuring activities to be programs whereby it fundamentally changes its operations, such as divestitures, closing or consolidating facilities, employee severance (including rationalizing headcount or other significant changes in personnel), and realignment of existing operations (including changes to management structure in response to underlying performance and/or changing market conditions). During fiscal 2024 , no material restructuring and other income, net charges were recorded. There were no liabilities associated with restructuring activities as of May 31, 2024. A progression of the liabilities associated with the restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption in our consolidated statement of earnings for fiscal 2023, is summarized below: Beginning Expense Ending (In millions) Balance (Income) Payments Adjustments Balance Early retirement and severance $ 0.5 $ 0.1 $ ( 0.6 ) $ - $ - $ 0.5 $ 0.1 $ ( 0.6 ) $ - $ - Net gain on sale of assets ( 4.3 ) Restructuring and other income, net $ ( 4.2 ) During fiscal 2023, the following actions were taken related to the Company’s restructuring activities: • On October 31, 2022, the consolidated joint venture, WSP, ceased operations and sold its remaining manufacturing facility, located in Jackson, Michigan. Net cash proceeds of $ 20.8 million were realized in connection with the transaction, of which $ 2.0 million is being held in escrow for contingent indemnification obligations associated with general representations and warranties. The transaction resulted in a gain of $ 3.9 million. During fiscal 2022 , the following actions were taken related to the Company’s restructuring activities, which resulted in the recognition of $ 14.5 million within restructuring and other income, net: • On June 9, 2021, the historical consolidated joint venture, WSP, sold the remaining assets of its Canton, Michigan, facility with a net book value of $ 7.6 million for net cash proceeds of $ 19.8 million, resulting in a gain of $ 12.2 million. • In April of fiscal 2022, the Company completed its exit of the Decatur, Alabama steel processing facility and sold the remaining fixed assets with a net book value of $ 1.4 million for net cash proceeds of $ 4.0 million, resulting in a gain of $ 2.6 million. • Additional incremental early retirement and severance costs of $ 0.3 million offset the above gains.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	12 Months Ended
	May 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Note F – Contingent Liabilities and Commitments Legal Proceedings The Company is a defendant in certain legal proceedings that are incidental to its business. In the opinion of management, the outcome of these legal proceedings, which is not clearly determinable at the present time, individually and in the aggregate, would not have a material adverse effect on the Company, its consolidated financial position, future results of operation or cash flows. The Company has recorded a liability to provide for the anticipated costs, including legal defense costs, associated with the resolution of these legal proceedings. However, the possibility exists that the costs to resolve these legal proceedings could differ from the recorded estimates and, therefore, have a material effect on the Company for the periods in which they are resolved.

Guarantees

Guarantees	12 Months Ended
	May 31, 2024
Guarantees and Product Warranties [Abstract]
Guarantees	Note G – Guarantees The Company does 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.

Debt

Debt	12 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
Debt	Note H – Debt The following table summarizes our long-term debt and short-term borrowings outstanding at May 31, 2024 and 2023: (In millions) 2024 2023 Short-term borrowings and current maturities Revolving credit facility $ 148.0 $ - Current maturities of Term Loan Facility with the Former Parent - 20.0 Other - 2.8 Total short-term borrowings and current maturities 148.0 22.8 Total long-term debt - - Total $ 148.0 $ 22.8 The following table provides the maturities of long-term debt and short-term borrowings in the next five fiscal years and the remaining years thereafter: (In millions) Fiscal 2025 $ 148.0 Fiscal 2026 - Fiscal 2027 - Fiscal 2028 - Fiscal 2029 - Thereafter - Total $ 148.0 Revolving Credit Facility On November 30, 2023, the Company entered into the Credit Facility scheduled to mature on November 30, 2028 , with a group of lenders. The Credit Facility allows for borrowings of up to $ 550.0 million, to the extent secured by eligible accounts receivable and inventory balances at period end, which consist primarily of U.S. Dollar denominated account balances. There were $ 148.0 million outstanding borrowings drawn against the Credit Facility at May 31, 2024, leaving a borrowing capacity of $ 402.0 million , subject to the eligible borrowing base, available for use. Individual amounts drawn under the Credit Facility accrue interest at rates equal to an applicable margin over the one-, three-, or six-month term SOFR Rate, plus a SOFR adjustment. The Company incurred approximately $ 2.7 million of issuance costs, of which $ 2.5 million will be amortized to interest expense over the expected five-year Credit Facility term and are reflected in other assets. The Credit Facility permits borrowings under two types of borrowing mechanisms: (i) Term SOFR Rate Loans and (ii) a swing loan. The Term SOFR Rate Loans permit the Company to draw a specific principal amount for a defined maturity of up to six months with the interest rate determined at the time of the draw, which equals an applicable margin over the applicable term SOFR Rate, plus a SOFR adjustment. Each Term SOFR Rate Loan has an individual, unique identifier and is distinguishable from the other Term SOFR Rate Loan drawn by the Company. At the end of each relevant interest period, the Company has the option to continue the same interest period for such Term SOFR Rate Loan or the Company can request a conversion to a new interest period for such Term SOFR Rate Loan. If no notice is given by the Company, the Term SOFR Rate Loan is deemed to be continued with the same interest period. The swing loan permits the Company to draw on the Credit Facility at any time up to a maximum of the greater of (i) $ 55 million and (ii) 10 % of the then-maximum amount of the Credit Facility. The swing loan interest rate is variable based upon the interest rate market. As of May 31, 2024, the swing loan rate was equal to 9.0 % . Any amounts drawn on the swing loan mature on the same date as the maturity of the Credit Facility; however, it has been the practice of the Company to repay the outstanding draws on the swing loan within a short-term period. The Credit Facility is secured by a first priority lien (subject to permitted liens and certain other exceptions) on certain working capital assets of the Company and the guarantors, including accounts and inventory, but excluding intellectual property, real property and equity interests, and subject to customary exceptions. The Company currently has no material contractual or regulatory restrictions on the payment of dividends provided that no event of default exists under the Credit Facility and it meets the minimum availability threshold thereunder. As of May 31, 2024, the weighted average interest rate on the outstanding interest-bearing debt under the Credit Facility was 6.92 % . Term Loan Facility with the Former Parent On June 8, 2021, TWB entered into a $ 50.0 million term loan agreement (the “TWB Term Loan”) with a subsidiary of the Former Parent that matured in annual installments through May 31, 2024 . The proceeds were used by TWB to finance the Shiloh U.S BlankLight purchase price. This note accrued interest at a rate of 5.0 % per annum. The borrowings are the legal obligation of TWB and require settlement, in cash, in accordance with the TWB Term Loan. As such, the debt and related interest have been attributed to the Company in the consolidated and combined financial statements. The term loan had balance of $ 20.0 million at May 31, 2023 , which is classified separately within current liabilities in the consolidated and combined balance sheet. The Former Parent’s note receivable associated with the TWB Term Loan was contributed to the Company in connection with the Separation on December 1, 2023. As a result, the TWB Term Loan balance was eliminated in consolidation following the Separation, which resulted in a zero balance as of May 31, 2024 in the consolidated and combined balance sheet. Other – Tempel China Tempel controls a subsidiary in China (“Tempel China”), and Tempel China utilized three short-term loan facilities, which were used to finance steel purchases, and were collateralized by Tempel China property and equipment. Borrowings outstanding under the facility totaled $ 2.8 million at May 31, 2023 . These loans were paid off in June 2023, which resulted in a zero balance at May 31, 2024. One facility with capacity of CN¥ 10.0 million (approximately USD $ 1.4 million ) matured on March 13, 2024 . This facility was not subsequently renewed. The remaining two facilities, one with capacity of CN¥ 40.0 million (approximately USD $ 5.5 million ) and one with capacity of CN¥ 50.0 million (approximately USD $ 6.9 million ), mature on December 31, 2024 . Other – Tempel India Tempel controls a subsidiary in India (“Tempel India”), and Tempel India has two individual credit arrangements with separate financial institutions, each of which contain a secured line of credit and standby letters of credit/letters of guarantee. One credit facility matures on November 19, 2024 , and the other credit facility matures on January 9, 2025 . The lines of credit have an aggregate facility size of RS₹ 600 million (approximately USD $ 7.2 million), subject to adjustment pursuant to a borrowing base. As of May 31, 2024 and 2023 , no amounts under the line of credit facilities were due to the financial institutions. Interest is payable monthly and will accrue on the outstanding balance according to the lenders’ base lending rate plus an applicable margin as determined by the lender. The standby letters of credit have an aggregate facility size of RS₹ 1,000 million (approximately USD $ 12.0 million). As of May 31, 2024 and 2023 , no amounts under the facilities were due to the financial institutions. The purchases, made in the normal course of business that are supported by the letters of credit, were recorded in accounts payable. Accounts Receivable Securitization On June 29, 2023, the Company terminated the revolving trade accounts receivable securitization facility (the “AR Facility”) because it was no longer needed. No early termination or other similar fees or penalties were paid in connection with the termination of the AR Facility.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	12 Months Ended
	May 31, 2024
Equity [Abstract]
Comprehensive Income (Loss)	Note I – Comprehensive Income (Loss) Other Comprehensive Income (Loss): The following table summarizes the tax effects of each component of other comprehensive income (loss) for the prior three fiscal years: 2024 2023 2022 (In millions) Before- Tax Net-of- Before- Tax Net-of- Before- Tax Net-of- Foreign currency translation $ ( 1.3 ) $ - $ ( 1.3 ) $ ( 6.8 ) $ - $ ( 6.8 ) $ ( 3.3 ) $ - $ ( 3.3 ) Pension liability adjustment 3.1 ( 0.7 ) 2.4 ( 0.8 ) 0.1 ( 0.7 ) 8.6 ( 2.0 ) 6.6 Cash flow hedges ( 6.7 ) 1.6 ( 5.1 ) 4.5 ( 1.0 ) 3.5 ( 52.1 ) 12.3 ( 39.8 ) Other comprehensive loss $ ( 4.9 ) $ 0.9 $ ( 4.0 ) $ ( 3.1 ) $ ( 0.9 ) $ ( 4.0 ) $ ( 46.8 ) $ 10.3 $ ( 36.5 ) Accumulated Other Comprehensive Income (Loss): The components of the changes in AOCI at the end of the prior three fiscal years were as follows: Accumulated Foreign Pension Cash Other Currency Liability Flow Comprehensive (In millions) Translation Adjustment Hedges Income (Loss) Balance at May 31, 2022 $ ( 3.8 ) $ 6.7 $ ( 1.0 ) $ 1.9 Other comprehensive loss before reclassifications ( 6.8 ) ( 1.0 ) ( 10.1 ) ( 17.9 ) Reclassification adjustments to income (a) - 0.2 14.6 14.8 Income tax effect - 0.1 ( 1.0 ) ( 0.9 ) Balance at May 31, 2023 $ ( 10.6 ) $ 6.0 $ 2.5 $ ( 2.1 ) Other comprehensive income (loss) before reclassifications ( 1.3 ) 3.5 1.6 3.8 Reclassification adjustments to income (a) - ( 0.4 ) ( 8.3 ) ( 8.7 ) Income tax effect - ( 0.7 ) 1.6 0.9 Balance at May 31, 2024 $ ( 11.9 ) $ 8.4 $ ( 2.6 ) $ ( 6.1 ) (a) The statement of earnings classification of amounts reclassified to net income include: (1) Pension liability adjustment – As disclosed in “Note L – Employee Retirement Plans”; and (2) Cash flow hedges – disclosed in “Note P – Derivative Financial Instruments and Hedging Activities.”

Equity

Equity	12 Months Ended
	May 31, 2024
Equity [Abstract]
Equity	Note J – Equity Common Shares : Worthington Steel, Inc. was formed as an Ohio corporation on February 28, 2023 with 100 shares authorized of which 100 common shares were issued and outstanding. As a result of the Separation, o n November 22, 2023, Worthington Steel, Inc. filed a certificate of amendment to the Articles of Incorporation of the Worthington Steel, Inc. (the “Amendment”) with the Secretary of State of the State of Ohio, which became effective as of such date. The Amendment (i) effected a stock split of the 100 then-outstanding common shares of the Worthington Steel, Inc. to provide a sufficient capitalization of the Worthington Steel, Inc. to enable the Former Parent to complete the pro rata distribution of 100 % of the Company’s outstanding common shares to Former Parent’s shareholders, with each Former Parent shareholder as of the previously announced record date of November 21, 2023 (the “Record Date”) receiving one common share of the Worthington Steel, Inc. for every one common share of Worthington Industries held as of the Record Date, and (ii) eliminated the Company’s stated capital. As of the Separation, there were 49.3 million shares issued and outstanding. T he Former Parent retained no ownership interest in Worthington Steel following the Separation. The Worthington Steel Amended Articles of Incorporation authorize one class of common shares and their relative voting rights. During fiscal 2024, fiscal 2023, and fiscal 2022 , we did no t repurchase any common shares. Preferred Shares: The Worthington Steel Amended Articles of Incorporation authorize one class of preferred shares and their relative voting rights. The Board is empowered to determine the issue prices, dividend rates, amounts payable upon liquidation and other terms of the preferred shares when issued. At May 31, 2024 , 1,000,000 shares are authorized, and no preferred shares are issued or outstanding. Theoretical Common Shares : Our non-qualified deferred compensation plans for employees require that any portion of a participant’s current account credited to the theoretical common share option, which reflects the fair value of the common shares with dividends reinvested, and any new contributions credited to the theoretical common share option remain credited to the theoretical common share option until distributed. For amounts credited to the theoretical common share option, payouts are required to be made in the form of whole common shares and cash in lieu of fractional common shares. As a result, we account for the deferred compensation obligation credited to the theoretical common share option within equity. The amounts recorded in equity totaled less than $ 0.1 million at May 31, 2024 . There were no amounts recorded in equity at May 31, 2023 and May 31, 2022 as the eligible Worthington Steel employees participated in the Former Parent’s plan prior to the Separation.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	May 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note K – Stock-Based Compensation Prior to the Separation, certain Company employee and non-employee directors participated in the stock-based compensation plans of the Former Parent (“Former Parent’s Plans”). In connection with the Separation, the Company’s Board of Directors approved the Worthington Steel, Inc. 2023 Long Term Incentive Plan and Worthington Steel, Inc. 2023 Equity Incentive Plan for Non-Employee Directors (the “Plans”). Under the Plans, we may grant incentive or non-qualified stock options, restricted common shares and performance shares to employees and non-qualified stock options and restricted common shares to non-employee directors. We classify share-based compensation expense within SG&A to correspond with the same financial statement caption as the majority of the cash compensation paid to employees who have been awarded common shares. A total of 8.4 million common shares were authorized and available for issuance in connection with the Plans in place at May 31, 2024. Under the terms of the Employee Matters Agreement between the Company and the Former Parent, in connection with the Separation, restricted stock and stock option equity awards granted to Company employees under the Former Parent's Plans were converted to awards representing appro ximately 1.3 million share s of the Company's common stock under the Plans. Adjustments to the underlying shares and terms of outstanding restricted stock and stock options were made to preserve the intrinsic value of the awards immediately before the Separation. The adjustment of the underlying shares and exercise prices, as applicable, was determined using a conversion ratio of 3.228 based on the relative values of the Former Parent's pre-Separation stock price and the Company's post-Separation stock price. The outstanding awards continue to vest over their original vesting periods. The Company did no t recognize any incremental compensation cost related to the adjustment of outstanding awards. The Company recognized pre-tax stock-based compensation expense of $ 10.3 million ($ 8.0 million after-tax), $ 10.4 million ($ 7.8 million after-tax) and $ 8.7 million ($ 6.7 million after-tax) under the Plans and Former Parent’s Plans during fiscal 2024, fiscal 2023 and fiscal 2022, respectively. At May 31, 2024, the total unrecognized compensation cost related to non-vested stock-based compensation awards was $ 17.8 million, which will be expensed over the next three to five fiscal years. Non-Qualified Stock Options Stock options may be granted to purchase common shares at not less than 100 % of the fair market value of the underlying common shares on the grant date. All outstanding stock options are non-qualified stock options. The exercise price of all stock options granted has been set at 100 % of the fair market value of the underlying common shares on the grant date. Generally, stock options granted to employees vest and become exercisable at the rate of 33 % per year beginning one year from the grant date, and expire ten years after the grant date. Non-qualified stock options granted to non-employee directors vest and become exercisable on the earlier of (a) the first anniversary of the grant date or (b) the date on which the next annual meeting of shareholders of Worthington Steel is held following the grant date for any stock option granted as of the date of an annual meeting of shareholders of Worthington Steel. Stock options can be exercised through net-settlement, at the election of the option holder. The source of the shares issues when exercised and held is out of new shares. GAAP requires that all share-based awards be recorded as expense in the statement of earnings based on their grant date fair value. The Company calculates the fair value of its non-qualified stock options using the Black-Scholes option pricing model and certain assumptions. The Stock-based compensation expense recognized for the stock option awards during fiscal 2024, fiscal 2023 and fiscal 2022 was $ 0.4 million, $ 0.2 million and $ 0.1 million, respectively. As of May 31, 2024, there was $ 0.4 million of total unrecognized compensation cost related to unvested stock options. This cost is expected to be recognized over a weighted-average period of 1.5 years. As of May 31, 2024, there were 0.2 million outstanding unvested stock options, with a total intrinsic value of $ 2.9 million. Service-Based Restricted Common Shares Restricted common shares that contain service-based vesting conditions may be awarded to certain employees and non-employee directors. Service-based restricted common shares granted to employees cliff vest three years from the date of grant. Service-based restricted common shares granted to non-employee directors vest under the same parameters as discussed above with respect to non-qualified stock option grants. All service-based restricted common shares are valued at the closing market price of the common shares on the date of the grant. The table below sets forth the service-based restricted common shares activity under the Plans from the Separation date to the year ended May 31, 2024. The calculated pre-tax stock-based compensation expense for these restricted common shares will be recognized on a straight-line basis over their respective three-year service periods. (In thousands, except per common share amounts) Restricted Weighted Outstanding, beginning of year - Awards converted from the Former Parent Plan 957 $ 22.20 Granted 170 29.18 Vested ( 19 ) 19.98 Forfeited ( 39 ) 19.06 Outstanding, end of year 1,069 $ 19.03 Weighted average remaining contractual life of outstanding restricted common shares (in years) 1.37 Aggregate intrinsic value of outstanding restricted common shares $ 35,286 Aggregate intrinsic value of restricted common shares vested during the year $ 573 Pre-tax stock-based compensation for granted awards $ 4,955 Market-Based Restricted Common Shares On April 1, 2024, the Company granted 149 thousand market-based restricted common shares to six key employees under one of the Plans. Vesting of these restricted common shares is contingent upon the completion of a three-year service vesting period and the Company’s annualized absolute total shareholder return (“ATSR”) reaching a certain threshold during the three-year performance period ending on March 31, 2027. If the annualized ATSR is between 5 % and 20 %, as measured using the 40 consecutive trading days ending on March 28, 2024 as the starting price and the 40 consecutive trading days ending on March 31, 2027 as the ending price, participants will receive 50-150% of their targeted performance shares. The grant date fair value of these restricted common shares, as determined by a Monte Carlo simulation model, was $ 34.83 per common share. The pre-tax stock-based compensation expense for these market-based restricted common shares of $ 5.4 million will be recognized on a graded basis over the five-year service period, net of any forfeitures. The following assumptions were used to determine the grant date fair value and the derived service period for these restricted common shares: Expected volatility 41.00 % Risk-free interest rate 4.51 % Actual TSR 14.00 % On June 25, 2020, the Company granted an aggregate of 35 thousand market-based restricted common shares to two key employees under one of the Former Parent Plans. Vesting of these restricted common share awards is contingent upon the average closing price of the common shares reaching $ 65.00 during any 90 consecutive day period during the five-year period following the date of grant and completion of a three-year service vesting period. The grant date fair value of these restricted common shares, as determined by a Monte Carlo simulation model, was $ 20.87 per common share. The calculated pre-tax stock-based compensation expense for these restricted common shares was $ 0.7 million; these awards fully vested on June 25, 2023. The following assumptions were used to determine the grant date fair value and the derived service period for these restricted common shares: Dividend yield 2.71 % Expected volatility 41.50 % Risk-free interest rate 0.32 % Performance Shares Performance shares may be awarded to certain key employees and are contingent (i.e., vest) based upon the level of achievement with respect to corporate targets for cumulative corporate economic value added, and earnings per share growth for the three-fiscal-year periods ended or ending May 31, 2024, 2025 and 2026. These performance share awards will be paid, to the extent earned, in common shares in the fiscal quarter following the end of the applicable three-fiscal-year performance period. The fair value of performance share awards is determined by the closing market price of the underlying common shares at the respective grant dates of the awards and the pre-tax stock-based compensation expense is based on the periodic assessment of the probability of the targets being achieved and the estimate of the number of common shares that will ultimately vest and be issued. The table below summarizes the Company’s performance share award activity under the Plans from the Separation date to the year ended May 31, 2024: (In thousands, except per common share amounts) Performance Shares Weighted Outstanding, beginning of year - Awards converted from the Former Parent Plan 133 $ 22.20 Granted 30 30.55 Vested ( 21 ) 17.36 Forfeited ( 12 ) 17.97 Outstanding, end of year 130 $ 20.72 Weighted average remaining contractual life of outstanding performance shares (in years) 1.30 Aggregate intrinsic value of outstanding performance shares $ 4,291 Aggregate intrinsic value of performance shares vested during the year $ 696 Pre-tax stock-based compensation for granted awards $ 923

Employee Retirement Plans

Employee Retirement Plans	12 Months Ended
	May 31, 2024
Retirement Benefits [Abstract]
Employee Retirement Plans	Note L – Employee Retirement Plans Defined Contribution Retirement Plan The Company provides retirement benefits to eligible employees primarily through a defined contribution retirement plan. Prior to the Separation, eligible employees of Worthington Steel had historically received benefits through the Former Parent’s defined contribution retirement plans. As a result of the Separation, the Worthington Steel, Inc. 401(k) Retirement Savings Plan (the “401(k) Plan”) was established, and new accounts within the 401(k) Plan were created for each of the qualifying plan participants of the Former Parent’s defined contribution retirement plan. As of the Separation date, all future qualifying plan participants’ contributions were attributed to the 401(k) Plan. The 401(k) Plan is a defined contribution plan covering all non-union U.S. employees of Worthington Steel (and its subsidiaries who are participating employers under the 401(k) Plan) on U.S. payroll who meet the tenure, hour and age requirements specified in the 401(k) Plan. The 401(k) Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”). The trustee for the 401(k) Plan is Fidelity Management Trust Company. Worthington Steel is the sponsor of the 401(k) Plan. Eligible participants make contributions based on elected percentages of eligible compensation, subject to annual addition and other limitations imposed by the Internal Revenue Code and the various plans’ provisions. Company contributions consist of employer matching contributions, annual or monthly employer contributions and discretionary contributions, based on individual plan provisions. The Company matches 50 cents per dollar of contributions of the first 4 % of the 401(k) Plan participants’ compensation. The Company also makes an employer contribution of 3 % of compensation on behalf of eligible participants irrespective of the amounts deferred by such participants. As a safe harbor plan, the Company guarantees a minimum contribution of at least 3 % of participants’ eligible compensation. The following table summarizes the defined contribution plan expense for the prior three fiscal years: (In millions) 2024 2023 2022 Defined contribution plan expense $ 12.3 $ 9.8 $ 8.8 Defined Benefit Pension Plans As a result of the Company’s acquisition of Tempel on December 1, 2021, it assumed approximately $ 40.2 million of net pension and other postretirement benefit obligations under Tempel’s defined benefit domestic funded pension plan, an unfunded supplemental executive retirement (SERP) plan, and a domestic unfunded postretirement plan. Effective December 31, 2010, Tempel froze its defined benefit domestic funded pension plan. Upon retirement, participants in this plan will receive the benefit they had accrued as of July 16, 2018. No further pension benefit will be earned by the participants of this plan after December 31, 2010. As a result of the Company’s acquisition of Voestalpine Nagold on November 16, 2023, it assumed approximately $ 0.9 million of net pension benefit obligations under a pre-existing pension obligation of the former company that resulted from a previous contractual arrangement with a prior owner before our acquisition. No further pension benefit will be earned by the participant of this plan, and the participant will begin to receive benefits upon reaching age 65 . See “ Note O – Acquisitions” for additional information related to the acquisition of Voestalpine Nagold. Defined benefit pension and OPEB plan obligations are remeasured at least annually as of May 31 based on the present value of projected future benefit payments for all participants for services rendered to date. The measurement of projected future benefits is dependent on the provisions of each specific plan, demographics of the group covered by the plan, and other key measurement assumptions. Net periodic benefit costs, including service cost, interest cost, and expected return on assets, are determined using assumptions regarding the benefit obligation and the fair value of plan assets as of the beginning of each fiscal year. The funded status of the benefit plans, which represents the difference between the benefit obligation and the fair value of plan assets, is calculated on a plan-by-plan basis. The benefit obligation and related funded status are determined using assumptions as of the end of each fiscal year. Net periodic benefit cost is included in other income (expense) in our consolidated and combined statements of earnings, except for the service cost component, which is recorded in SG&A. Net Periodic Pension Costs (Income) The following table summarizes the components of net periodic pension income for the Company’s defined benefit pension plans for the prior three fiscal years: (In millions) 2024 2023 2022 Defined benefit plans: Interest cost $ 3.6 $ 3.4 $ 1.4 Return on plan assets ( 4.0 ) ( 3.9 ) ( 2.1 ) Net amortization and deferral costs ( 0.3 ) ( 0.1 ) - Net periodic benefit income $ ( 0.7 ) $ ( 0.6 ) $ ( 0.7 ) During fiscal 2024 and fiscal 2023, the Company also incurred less than $ 0.1 million and $ 0.1 million, respectively, in net periodic benefit cost related to the Tempel Steel Company Postretirement Benefit Plan. Weighted Average Rates The following weighted-average assumptions were used to determine the unfunded benefit obligation and net periodic benefit cost: 2024 2023 2022 Benefit obligation: Discount rate 5.52 % 4.80 % 4.32 % Net periodic pension cost: Discount rate 4.76 % 4.32 % 2.66 % Expected long-term rate of return 6.50 % 6.50 % 6.50 % The discount rates used to measure plan liabilities as of the measurement date are determined individually for each plan using actuarial developed yield curves. The discount rates are determined by matching the projected cash flows used to determine the plan liabilities to a projected yield curve of high-quality corporate bonds available at the measurement date. The expected return on plan assets assumption is determined by reviewing the investment returns, as well as longer-term historical returns of an asset mix approximating our asset allocation targets, and periodically comparing these returns to the expectations of investment advisors and actuaries to determine whether long-term future returns are expected to differ significantly from the past. Funded Status The following tables provide a reconciliation of the changes in the projected benefit obligation and the fair value of plan assets and the funded status for the Company’s defined benefit plans: Pension Benefits Other Benefits (In millions) 2024 2023 2024 2023 Change in benefit obligation Benefit obligation, beginning of year $ 76.9 $ 82.3 $ 3.4 $ 4.1 Service cost - - - - Interest cost 3.6 3.4 0.2 0.2 Plan amendments - - - ( 0.4 ) Actuarial gain ( 5.0 ) ( 3.1 ) ( 0.2 ) ( 0.3 ) Benefits paid ( 5.4 ) ( 5.7 ) ( 0.3 ) ( 0.2 ) Benefit obligations acquired 1.0 - - - Benefits obligation, end of year $ 71.1 $ 76.9 $ 3.1 $ 3.4 Change in plan assets Fair value, beginning of year $ 54.9 $ 56.2 $ - $ - Return on plan assets 2.3 ( 0.5 ) - - Company contributions 1.6 5.0 0.3 0.2 Benefits paid ( 5.4 ) ( 5.8 ) ( 0.3 ) ( 0.2 ) Plan assets acquired 0.1 - - - Fair value, end of year 53.5 54.9 - - Funded status $ ( 17.6 ) $ ( 22.0 ) $ ( 3.1 ) $ ( 3.4 ) Amounts recognized in our consolidated and combined Accrued compensation, contributions to employee benefit plans and related taxes $ - $ - $ ( 0.3 ) $ ( 0.3 ) Other liabilities $ ( 17.6 ) $ ( 22.0 ) $ ( 2.8 ) $ ( 3.1 ) AOCI ( 9.3 ) ( 6.3 ) ( 1.6 ) ( 1.5 ) Amounts recognized in AOCI consist of: Net income $ ( 9.3 ) $ ( 6.3 ) $ ( 1.2 ) $ ( 1.1 ) Net prior service credit - - ( 0.4 ) ( 0.4 ) Total $ ( 9.3 ) $ ( 6.3 ) $ ( 1.6 ) $ ( 1.5 ) The following table shows other changes in plan assets and benefit obligations recognized in OCI during the prior two fiscal years: Pension Benefits Other Benefits (In millions) 2024 2023 2024 2023 Net (gain) loss $ ( 3.4 ) $ 1.3 $ ( 0.2 ) $ ( 0.3 ) Amortization of net (gain) loss 0.3 0.2 0.1 ( 0.4 ) Total recognized in other comprehensive income $ ( 3.1 ) $ 1.5 $ ( 0.1 ) $ ( 0.7 ) Total recognized in net periodic benefit cost (income) and OCI $ ( 3.8 ) $ 0.8 $ - $ ( 0.5 ) Pension plan assets are required to be disclosed at fair value in our consolidated and combined financial statements. Fair value is defined in “Note Q – Fair Value Measurements.” The pension plan assets’ fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Fair Value Hierarchy Categories There are three measurement input levels for determining fair value: Level 1, Level 2, and Level 3. Valuations of Level 1 assets for all classes are based on quoted (unadjusted) closing market prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Cash is valued at cost, which approximates fair value. There were no valuations of Level 2 or Level 3 assets at May 31, 2024 or May 31, 2023, as shown in the tables below. See “Note Q – Fair Value Measurements.” Fair Value of Plan Assets The following table sets forth, by level within the fair value hierarchy, a summary of the defined benefit plans’ assets measured at fair value on a recurring basis at May 31, 2024: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In millions) Fair Value (Level 1) (Level 2) (Level 3) Investment: Cash and cash equivalents $ 4.3 $ 4.3 $ - $ - Fixed-income funds 24.7 24.7 - - Equity funds 16.2 16.2 - - Commingled fund investments measured at net asset value (1) : Hedge funds 8.3 - - - Total $ 53.5 $ 45.2 $ - $ - (1) Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The following table sets forth, by level within the fair value hierarchy, a summary of the defined benefit plans’ assets measured at fair value on a recurring basis at May 31, 2023: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In millions) Fair Value (Level 1) (Level 2) (Level 3) Investment: Cash and cash equivalents $ 3.9 $ 3.9 $ - $ - Fixed-income funds 22.1 22.1 - - Equity funds 20.1 20.1 - - Commingled fund investments measured at net asset value (1) : Hedge funds 8.8 - - - Total $ 54.9 $ 46.1 $ - $ - (1) Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. Plan assets for the defined benefit plans consisted principally of the following as of the respective measurement dates: May 31, May 31, 2024 2023 Asset category: Equity securities 30 % 37 % Fixed-income funds 46 % 40 % Hedge funds 16 % 16 % Other 8 % 7 % Total 100 % 100 % Equity securities include no employer stock. The investment policy and strategy for the defined benefit plans is: (i) long-term in nature with liquidity requirements that are anticipated to be minimal due to the projected normal retirement date of the average employee and the current average age of participants; (ii) to earn nominal returns, net of investment fees, equal to or in excess of the defined benefit plans’ respective liability growth rate; and (iii) to include a diversified asset allocation of domestic and international equities and fixed income investments. We are expected to contribute approximately $ 1.8 million to the defined benefit and OPEB plans during fiscal 2025. However, we reserve the right to make additional contributions. Estimated Future Benefits Payments The following estimated future benefits, which reflect expected future service, as appropriate, are expected to be paid under the defined benefit and other postretirement plans during future fiscal years as follows: (In millions) Pension Benefits Other Benefits 2025 $ 6.4 $ 0.3 2026 $ 5.9 $ 0.3 2027 $ 6.1 $ 0.3 2028 $ 6.0 $ 0.3 2029 $ 5.6 $ 0.3 2030-2034 $ 26.8 $ 1.2

Income Taxes

Income Taxes	12 Months Ended
	May 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note M – Income Taxes Earnings before income taxes for the prior three fiscal years included the following components: (In millions) 2024 2023 2022 U.S. based operations $ 166.3 $ 102.7 $ 208.0 Non – U.S. based operations 49.9 26.0 46.3 Earnings before income taxes 216.2 128.7 254.3 Less: Net earnings attributable to noncontrolling interests (1) 15.4 12.6 19.9 Earnings before income taxes attributable to controlling interest $ 200.8 $ 116.1 $ 234.4 (1) Net earnings attributable to noncontrolling interests are not taxable to the Company. Significant components of income tax expense (benefit) for the prior three fiscal years were as follows: (In millions) 2024 2023 2022 Current Federal $ 25.3 $ 26.9 $ 30.2 State and local 6.3 4.2 5.1 Foreign 13.4 7.6 5.1 Subtotal 45.0 38.7 40.4 Deferred Federal 4.7 ( 8.6 ) 12.2 State and local ( 0.8 ) ( 0.6 ) 1.1 Foreign ( 2.8 ) ( 0.5 ) 0.3 Subtotal 1.1 ( 9.7 ) 13.6 Total $ 46.1 $ 29.0 $ 54.0 A reconciliation of the federal statutory corporate income tax rate to total tax provision for the prior three fiscal years follows: 2024 2023 2022 Federal statutory corporate income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax benefit 2.2 2.2 2.1 Non-U.S. income taxes at other than federal statutory rate 0.6 1.7 ( 1.6 ) Nondeductible executive compensation 0.6 1.7 1.1 Other ( 1.4 ) ( 1.6 ) 0.5 Effective tax rate attributable to controlling interest 23.0 % 25.0 % 23.1 % The above effective tax rate attributable to controlling interest excludes any impact from the inclusion of net earnings attributable to noncontrolling interests in the Company’s consolidated and combined statements of earnings. The effective tax rates upon inclusion of net earnings attributable to noncontrolling interests were 21.3 % , 22.5 % and 21.2 % for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Net earnings attributable to noncontrolling interests are a result of the Company’s consolidated joint ventures. The net earnings attributable to the noncontrolling interests in the U.S. operations of the Company’s consolidated joint ventures do not generate tax expense to the Company since the investors are taxed directly based on the earnings attributable to the investors. The tax expense of TWB’s wholly-owned foreign subsidiaries is reported in the consolidated and combined income tax expense. Under applicable accounting guidance, a tax benefit may be recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Any tax benefits recognized in the Company’s financial statements from such a position were measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. A tabular reconciliation of unrecognized tax benefits follows: (In millions) 2024 2023 2022 Balance at beginning of the year $ 1.2 $ 1.2 $ 0.1 Decreases - tax positions taken in prior years ( 1.0 ) - - Increases - current tax positions - - 1.2 Settlements - - - Lapse of statutes of limitations - - ( 0.1 ) Balance at the end of the year $ 0.2 $ 1.2 $ 1.2 During the fiscal year ended May 31, 2024 , $ 1.0 million was reclassified as a tax payable due to the final ruling in a pre-acquisition tax matter at Tempel. The amount of unrecognized tax benefits for the years ended May 31, 2023 and 2022, that, if recognized would affect the effective tax rate, was not material. During the fiscal year ended May 31, 2024, 2023, and 2022, the Company recognized an immaterial amount of tax-related interest on unrecognized tax benefits. Management estimates the reasonably possible changes to unrecognized tax benefits during the next twelve months to be immaterial and is currently unaware of any issues under review that would result in significant additional payments, accruals, or other material deviations to this estimate. The following is a summary of the tax years open to examination by major tax jurisdiction: • U.S. Federal – 2021 and forward • U.S. State and Local – 2020 and forward • Austria – 2024 and forward • Canada – 2019 and forward • China – 2021 and forward • India – 2020 and forward • Mexico – 2019 and forward The components of the Company’s deferred tax assets and liabilities as of May 31 were as follows: (In millions) 2024 2023 Deferred tax assets Accounts receivable $ 1.8 $ 1.3 Inventories 2.8 3.4 Accrued expenses 9.2 14.1 Net operating loss carry forwards 2.8 3.2 Stock-based compensation 1.9 3.4 Operating lease - liability 4.4 2.3 Derivative contracts 0.2 1.5 Other 1.5 0.1 Deferred tax assets before valuation allowance 24.6 29.3 Less: Valuation allowance - - Total deferred tax assets 24.6 29.3 Deferred tax liabilities Property, plant and equipment ( 28.7 ) ( 33.0 ) Investment in affiliated companies, principally due to undistributed earnings ( 10.5 ) ( 12.1 ) Operating lease - ROU assets ( 4.2 ) ( 2.1 ) Other ( 0.6 ) ( 1.9 ) Total deferred tax liability ( 44.0 ) ( 49.1 ) Net deferred tax asset (liability) $ ( 19.4 ) $ ( 19.8 ) At May 31, 2024 , the Company had tax benefits for non-U.S. net operating loss carryforwards of $ 2.8 million that begin expiring in fiscal 2029. Based on the Company’s history of profitability, the scheduled reversal of deferred tax liabilities, and taxable income projections, the Company has determined that it is more likely than not that the remaining deferred tax assets are otherwise realizable.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	May 31, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	Note N – Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the prior three fiscal years: (In millions, except per common share amounts) 2024 2023 2022 Numerator (basic & diluted): Net earnings attributable to controlling interest – income available to common shareholders $ 154.7 $ 87.1 $ 180.4 Denominator: Denominator for basic earnings per common share attributable to controlling interest – weighted average common shares 49.3 49.3 49.3 Effect of dilutive securities: 0.5 - - Denominator for diluted earnings per common share attributable to controlling interest – adjusted weighted average common shares 49.8 49.3 49.3 Basic earnings per common share attributable to controlling interest $ 3.14 $ 1.77 $ 3.66 Diluted earnings per common share attributable to controlling interest $ 3.11 $ 1.77 $ 3.66 Anti-dilutive non-qualified stock options and restricted common share awards (1) - - - (1) These non-qualified stock options and restricted common share awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. There were no anti-dilutive non-qualified stock options and restricted common share awards prior to the Separation. The number of anti-dilutive non-qualified stock options and restricted common share awards for 2024 was less than 0.1 million. Earnings per common share was calculated based on the weighted-average number of common shares outstanding. Earnings per diluted common share included the weighted-average effect of dilutive restricted common shares and non-qualified stock options on the weighted-average shares outstanding. Prior to the third quarter of fiscal 2024, earnings per common share was based on the 49.3 million Worthington Steel common shares distributed to the Former Parent's shareholders on December 1, 2023 . The same number of common shares is being utilized for the calculation of basic and diluted earnings per common share for all periods presented prior to the Separation. After the Separation, actual outstanding common shares are used to calculate both basic and diluted weighted-average number of common shares outstanding.

Acquisitions

Acquisitions	12 Months Ended
	May 31, 2024
Business Combinations [Abstract]
Acquisitions	Note O – Acquisitions Fiscal 2024 Voestalpine Automotive Components Nagold GmbH & Co. KG (Voestalpine Nagold) On November 16, 2023 , the Company acquired Voestalpine Nagold , including its lamination stamping facility in Nagold, Germany and related assets, for net cash consideration of $ 21.0 million and the assumption of a $ 0.9 million pension liability. Voestalpine produces automotive and electrical steel lamination stampings in Europe. The total purchase consideration was preliminarily allocated primarily to tangible assets, consisting of $ 12.3 million of property, plant and equipment and $ 9.0 million of net working capital, with $ 0.6 million recognized as goodwill. The information included in the preliminary allocation of the purchase price was derived using estimates of the fair value and useful lives of the assets acquired. As a result of final purchase accounting adjustments, the total purchase consideration was updated. The purchase consideration consisted of $ 12.6 million of property, plant and equipment and $ 8.2 million of net working capital, with $ 1.1 million recognized as goodwill. Thus, the final purchase accounting adjustments consisted of $ 0.3 million of property, plant and equipment and $( 0.8 ) million of net working capital, with $ 0.5 million to goodwill. There was no change in the valuation of the pension liability. 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 benefits specific to the Company, which resulted in a purchase price in excess of the fair value of the identifiable net assets. The goodwill resulting from the acquisition will be deductible for income tax purposes. The results of operations of Voestalpine Nagold have been included in the consolidated and combined statements of earnings since the date of acquisition. Proforma results, including the acquired business since the beginning of fiscal 2023, would not be materially different from the reported results. Fiscal 2023 The Company did no t make any acquisitions during fiscal 2023. Fiscal 2022 Shiloh Industries’ U.S. BlankLight ® On June 8, 2021, the Company, along with our 55 % consolidated joint venture TWB, acquired certain assets of Shiloh’s U.S. BlankLight® business. The purchase price for the acquisition was cash consideration of approximately $ 104.5 million , after closing adjustments. The Shiloh business is being primarily operated by TWB and the operating results of the Shiloh business have been included in our consolidated and combined statements of earnings since the date of acquisition. Proforma results of the Shiloh business, including the acquired business since the beginning of fiscal 2021, would not be materially different than the reported results. Net sales and net earnings since the beginning of fiscal 2021, would not be materially different than the reported results. Tempel Steel Company On December 1, 2021, the Company completed its acquisition of Tempel, a leading global manufacturer of precision motor and transformer laminations for the electrical steel market that includes transformers, industrial motors and electric vehicle (EV) motors for cash consideration of $ 272.2 million , net of cash acquired, plus the assumption of certain long-term liabilities. Total acquisition-related expenses of $ 1.9 million were incurred in fiscal 2022. Operating results of Tempel have been included in the consolidated and combined statement of earnings since December 1, 2021, the date of acquisition. During fiscal 2022 , Tempel contributed net sales of $ 278.2 million and operating income of $ 8.6 million, which included acquisition-related costs of approximately $ 1.9 million and incremental cost of goods sold of $ 3.8 million due to the write-up of inventory to its estimated acquisition-date fair value. The following unaudited pro forma information presents consolidated and combined financial information for fiscal 2022 as if Tempel had been acquired at the beginning of fiscal 2021. Depreciation and amortization expense included in the pro forma results reflect the acquisition-date fair values assigned to the definite-lived intangible assets and fixed assets of Tempel assuming a June 1, 2020 acquisition date. Adjustments have been made to remove acquisition-related costs and the acquisition date fair value adjustment to acquired inventories. The pro forma adjustments noted above have been adjusted for the applicable income tax impact. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on June 1, 2020. Fiscal Year Ended May 31, (In millions) 2022 Net sales $ 4,307.8 Net earnings attributable to controlling interest $ 199.4

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	12 Months Ended
	May 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note P – Derivative Financial Instruments and Hedging Activities The Company utilizes derivative financial instruments to primarily manage exposure to certain risks related to our ongoing operations. The primary risk managed through the use of derivative financial instruments is commodity price risk. While certain of the Company’s derivative financial instruments are designated as hedging instruments, the Company also enters into derivative financial instruments that are designed to hedge a risk, but are not designated as hedging instruments and, therefore, do not qualify for hedge accounting. These derivative financial instruments are adjusted to current fair value through earnings at the end of each period. Commodity Price Risk Management – The Company is exposed to changes in the price of certain commodities, including steel, zinc and other raw materials, and the Company’s utility requirements. The objective is to reduce earnings and cash flow volatility associated with forecasted purchases and sales of these commodities to allow management to focus its attention on business operations. Accordingly, the Company enters into derivative financial instruments to manage the associated price risk. The Company is exposed to counterparty credit risk on all of its derivative financial instruments. Accordingly, the Company has established and maintained strict counterparty credit guidelines. The Company has credit support agreements in place with certain counterparties to limit the Company’s 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. The Company does not have significant exposure to any one counterparty, and management believes the overall risk of loss is remote and, in any event, would not be material. Refer to “Note Q – Fair Value Measurements” for additional information regarding the accounting treatment for the Company’s derivative financial instruments, as well as how fair value is determined. The following table summarizes the fair value of the derivative financial instruments and the respective lines in which they were recorded in our consolidated balance sheet at May 31, 2024: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (In millions) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 0.2 Accounts payable $ 1.9 Other assets - Other liabilities - Total $ 0.2 $ 1.9 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 3.4 Accounts payable $ 2.5 Other assets - Other liabilities - Total $ 3.4 $ 2.5 Total derivative financial instruments $ 3.6 $ 4.4 GAAP permits an entity to present derivative financial instruments assets and liabilities on a net basis on the balance sheet, provided a right of offset exists and/or when they are subject to a master netting arrangement. The Company’s policy is to record derivative financial instruments on a net basis where the Company has an executed master netting arrangement with counterparties as well as where the right of offset exists. The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis, where allowable under master netting arrangements and/or where the right of offset exists. Had these amounts been recognized on a gross basis, the impact would have been a $ 2.6 million i ncrease in receivables with a corresponding increase in accounts payable. The following table summarizes the fair value of the derivative financial instruments and the respective lines in which they were recorded in our consolidated balance sheet at May 31, 2023: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (In millions) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ - Accounts payable $ 2.7 Other assets 0.1 Other liabilities 0.1 Total $ 0.1 $ 2.8 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 2.2 Accounts payable $ 7.0 Other assets - Other liabilities - Total $ 2.2 $ 7.0 Total derivative financial instruments $ 2.3 $ 9.8 The amounts in the table above reflect the fair value of the derivative financial instruments on a net basis, where allowable under master netting arrangements and/or where the right of offset exists. Had these amounts been recognized on a gross basis, the impact would have been a $ 7.3 million increase in receivables with a corresponding increase in accounts payable. Cash Flow Hedges We enter into derivative financial instruments to hedge exposure to changes in cash flows attributable to interest rate and commodity price fluctuations associated with certain forecasted transactions. These derivative financial instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on each of these derivative financial instruments is reported as a component of OCI and reclassified into earnings in the same line associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative financial instrument is recognized in earnings immediately. The following table summarizes our cash flow hedges outstanding at May 31, 2024: Notional (In millions) Amount Maturity Date Commodity contracts $ 24.5 June 2024 – September 2025 The following table summarizes our cash flow hedges outstanding at May 31, 2023: Notional (In millions) Amount Maturity Date Commodity contracts $ 53.0 June 2023 – September 2024 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from AOCI into earnings for derivative financial instruments designated as cash flow hedges during fiscal 2024 and fiscal 2023: Location of Gain (Loss) Gain (Loss) Reclassified Gain (Loss) Reclassified from AOCI from AOCI into (In millions) Recognized in OCI into Net Earnings Net Earnings For the fiscal year ended May 31, 2024: Commodity contracts 1.6 Cost of goods sold 8.3 Totals $ 1.6 $ 8.3 For the fiscal year ended May 31, 2023: Commodity contracts ( 10.1 ) Cost of goods sold ( 14.6 ) Totals $ ( 10.1 ) $ ( 14.6 ) The estimated net amount of the losses recognized in AOCI at May 31, 2024 , expected to be reclassified into net earnings within the succeeding twelve months is $ 2.6 million (net of tax of $ 0.8 million). This amount was computed using the fair value of the cash flow hedges at May 31, 2024, and will change before actual reclassification from other comprehensive income to net earnings during fiscal 2025. Economic (Non-designated) Hedges We enter into foreign currency exchange contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative financial instruments are adjusted to current market value at the end of each period through earnings. The following table summarizes our economic (non-designated) derivative financial instruments outstanding at May 31, 2024: Notional (In millions) Amount Maturity Date Commodity contracts $ 22.4 June 2024 – March 2025 The following table summarizes our economic (non-designated) derivative financial instruments outstanding at May 31, 2023: Notional (In millions) Amount Maturity Date Commodity contracts $ 2.4 June 2023 – December 2024 The following table summarizes the loss recognized in earnings for economic (non-designated) derivative financial instruments during fiscal 2024 and fiscal 2023: Loss Recognized in Earnings Fiscal Year Ended Location of Loss May 31, (In millions) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ ( 0.4 ) $ ( 11.7 ) Total $ ( 0.4 ) $ ( 11.7 )

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	May 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note Q – Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities that the reporting entity can assess at the measurement date. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly. Level 3 – Unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability and that are significant to the fair value of the assets and liabilities (i.e., allowing for situations in which there is little or no market activity for the asset or liability at the measurement date). Recurring Fair Value Measurements At May 31, 2024, the Company’s assets and liabilities measured at fair value on a recurring basis were as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 3.6 $ - $ 3.6 Total assets $ - $ 3.6 $ - $ 3.6 Liabilities Derivative financial instruments (1) $ - $ 4.4 $ - $ 4.4 Total liabilities $ - $ 4.4 $ - $ 4.4 (1) The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments. At May 31, 2023, the Company’s assets and liabilities measured at fair value on a recurring basis were as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 2.3 $ - $ 2.3 Total assets $ - $ 2.3 $ - $ 2.3 Liabilities Derivative financial instruments (1) $ - $ 9.8 $ - $ 9.8 Total liabilities $ - $ 9.8 $ - $ 9.8 (1) The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments. Non-Recurring Fair Value Measurements At May 31, 2024 , there were no assets measured at fair value on a non-recurring basis on the consolidated and combined balance sheet, except as noted below. At May 31, 2023, the Company’s assets measured at fair value on a non-recurring basis were categorized as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Long-lived assets held for sale (1) $ - $ 2.6 $ - $ 2.6 Total assets $ - $ 2.6 $ - $ 2.6 (1) Comprised of the following: (1) idled equipment at the manufacturing facility in Taylor, Michigan; and (2) the net assets the Company’s former WSCP toll processing facility in Cleveland, Ohio. Refer to “ Note D – Goodwill and Other Long-Lived Assets” for additional information. The non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, income taxes receivable, other assets, accounts payable, short-term borrowings, accrued compensation, contributions to employee benefit plans and related taxes, other accrued items, income taxes payable and other liabilities approximate fair value due to their short-term nature. Market pricing of the long-term debt with the Former Parent was not available; however, based on the stated interest rate and tenor as well as the market movements since issuance, the Company does not believe the fair value would be materially different from the carrying value of the TWB Term Loan (including current maturities), which was $ 20.0 million at May 31, 2023. The Former Parent’s note receivable associated with the TWB Term Loan was contributed to us in connection with the Separation on December 1, 2023. As a result, the TWB Term Loan balance was eliminated in consolidation following the Separation; therefore, no amounts were reflected in the Company’s consolidated and combined financial statements as of May 31, 2024. The remaining carrying value of debt was $ 148.0 million at May 31, 2024 , and relates to the Credit Facility, which due to its short-term nature, approximates fair value. The Credit Facility was entered into as of November 30, 2023, therefore, there were no borrowings under the Credit Facility at May 31, 2023 .

Leases

Leases	12 Months Ended
	May 31, 2024
Leases [Abstract]
Leases	Note R – Leases The Company leases office space, warehouses, vehicles, and equipment. Leases have remaining lease terms of 1 year to 17 years, some of which have renewal and termination options. Termination options are exercisable at our option. The lease terms used to recognize ROU assets and lease liabilities include periods covered by options to extend the lease where we are reasonably certain to exercise that option and periods covered by an option to terminate the lease if we are reasonably certain not to exercise that option. Finance leases are immaterial to the consolidated and combined financial statements. The Company determines if an arrangement meets the definition of 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 we will exercise such options. As most of our leases do not include an implicit rate, the Company uses its 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 SG&A depending on the underlying nature of the leased assets. The Company leases 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 us. Under Topic 842, the Company 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, an index, or a rate. The components of lease expense for fiscal 2024 and fiscal 2023 were as follows: (In millions) 2024 2023 Operating lease expense $ 10.1 $ 9.5 Short-term lease expense 2.6 1.8 Variable lease expense - 0.3 Total lease expense $ 12.7 $ 11.6 Other information related to our leases, as of and for the fiscal years ended May 31, 2024 and May 31, 2023, is provided below: Operating Leases (Dollars in millions) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows $ 9.3 $ 5.7 Financing cash flows $ - $ - ROU assets obtained in exchange for lease liabilities $ 6.7 $ 12.1 Weighted-average remaining lease term (in years) 13.53 14.63 Weighted-average discount rate 3.48 % 3.35 % Future minimum lease payments for non-cancelable operating leases having an initial or remaining term in excess of one year at May 31, 2024, were as follows: (In millions) Operating Leases 2025 $ 9.9 2026 8.8 2027 7.3 2028 6.9 2029 6.2 Thereafter 55.5 Total 94.6 Less: imputed interest ( 18.7 ) Present value of lease liabilities $ 75.9

Related Party Transactions

Related Party Transactions	12 Months Ended
	May 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note S – Related Party Transactions Prior to the Separation, the Company was managed and operated in the normal course of business by the Former Parent. Transactions through November 30, 2023 between the Former Parent and the Company have been accounted for as related party transactions in the accompanying consolidated and combined financial statements, as described below. Subsequent to the Separation, transactions between the Former Parent and the Company were accounted for under the applicable GAAP, including those subject to agreements entered into with the Former Parent. See “Note A – Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation” for additional information. The material related party transactions have been disclosed below. Allocation of General Corporate Costs The Company had historically operated as part of the Former Parent and not as a stand-alone company. Prior to the Separation, certain support functions were provided to the Company on a centralized basis from the Former Parent, including information technology, human resources, finance, and corporate operations, amongst others, profit sharing and bonuses, and respective surpluses and shortfalls of various planned insurance expenses. For purposes of these consolidated and combined financial statements, these corporate and other shared costs have been attributed to the Company on the basis of direct usage when identifiable, with the remainder allocated considering the characteristics of each respective cost (e.g., on the basis of headcount or profitability). Management believes the assumptions regarding the allocation of the Former Parent’s general corporate expenses are reasonable. Nevertheless, the consolidated and combined financial statements may not include all of the actual expenses that would have been incurred and may not reflect consolidated and combined results of operations, financial position and cash flows had it been a stand-alone public company during the periods presented. Substantially all of the allocated corporate costs are included in SG&A in the consolidated and combined statements of earnings. The Company’s allocated expenses from the Former Parent, which are substantially recorded in SG&A in the consolidated and combined statements of earnings, were $ 38.5 million for fiscal 2024 , all of which were incurred prior to the Separation. The allocated expenses from the Former Parent were $ 70.7 million and $ 70.1 million for fiscal 2023 and fiscal 2022, respectively. Following the Separation, the Company independently incurs expenses as a stand-alone company and corporate expenses from the Former Parent are no longer allocated to the Company; therefore, no related amounts were reflected on the Company’s consolidated and combined financial statements following the Separation. Attribution of Separation Costs The Former Parent incurred Separation Costs that were directly attributed to the Company to the extent incurred to its direct benefit and are presented separately in the consolidated and combined statements of earnings. Following the Separation, the Company incurred incremental costs related to the Separation, which are reflected on the Company’s consolidated and combined statements of earnings. See “Note A – Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation” for additional information. Net Sales to the Former Parent and Transactions with Affiliated Companies Prior to the Separation, the Company’s net sales to the Former Parent were considered sales on a carve-out basis, and were included within net sales in the combined statements of earnings. Following the Separation, the Company’s net sales to the Former Parent are subject to the long-term Steel Supply Agreement and are included within net sales in the consolidated statement of earnings. Net sales to the Former Parent for fiscal 2024, fiscal 2023 and fiscal 2022 totaled $ 82.1 million , $ 109.8 million , and $ 135.6 million , respectively. The Company purchases from, and sells to, affiliated companies, which would include the unconsolidated joint ventures of the Former Parent prior to the Separation, certain raw materials and services at prevailing market prices. Net sales to affiliated companies, excluding transactions with the Former Parent, during fiscal 2024, fiscal 2023, and fiscal 2022 totaled $ 14.7 million , $ 35.8 million and $ 82.4 million , respectively. Purchases from affiliated companies totaled $ 17.4 million in fiscal 2024 , were no t significant in fiscal 2023 and totaled $ 9.7 million in fiscal 2022 , respectively. Account Receivable and Account Payable from affiliated companies were no t significant at either May 31, 2024 or May 31, 2023. Due to/from the Former Parent Given that cash was managed centrally by the Former Parent prior to the Separation, long-term intercompany financing arrangements were used to fund expansion or certain working capital needs. Excluding the TWB Term Loan discussed in “Note H – Debt”, debt resulting from these long-term intercompany financing arrangements has been reflected in Net Investment by the Former Parent within equity. Amounts due to the Former Parent under the TWB Term Loan totaled $ 20.0 million at May 31, 2023, all of which is presented in current maturities of long-term debt due to the Former Parent in the corresponding consolidated and combined balance sheet. The Former Parent’s note receivable associated with the TWB Term Loan was contributed to the Company in connection with the Separation on December 1, 2023. As a result, the TWB Term Loan balance was eliminated in consolidation following the Separation. The corresponding interest expense, which accrued at a rate of 5.0 % per annum, was $ 0.5 million for fiscal 2024 and $ 1.4 million for fiscal 2023. The interest expense for fiscal 2024 reflects only amount prior to the contribution of the loan on December 1, 2023. Refer to “Note H – Debt” for additional information. As of May 31, 2024 , the outstanding accounts receivable balance with the Former Parent equaled $ 9.7 million as a result of the net sales to the Former Parent described above. Net Investment by the Former Parent Prior to the Separation, related party transactions between the Former Parent and the Company have been included within Net Investment by the Former Parent in the consolidated and combined balance sheets in the periods presented as these related party transactions were part of the centralized cash management program and were not settled in cash. Net Investment by the Former Parent in the consolidated and combined balance sheet and consolidated and combined statements of equity represents the Former Parent’s historical investment in the Company, the net effect of transactions with and allocations from the Former Parent, and its retained earnings. Net transfers from/(to) the Former Parent, excluding the $ 150.0 million distribution, are included within Net Investment by the Former Parent. The reconciliation of total net transfers to and from the Former Parent to the corresponding amount presented in the consolidated and combined statement of cash flows are as follows: Fiscal Year Ended May 31, (In millions) 2024 2023 2022 Total net transfers from/(to) the Former Parent per consolidated and combined changes in equity $ ( 32.7 ) $ ( 187.3 ) $ 328.0 Less: non-cash net asset contribution from the Former Parent 7.6 - - Less: depreciation expense allocated from the Former Parent 1.2 2.5 3.1 Less: stock-based compensation 6.1 10.0 8.0 Total net transfers from/(to) the Former Parent per consolidated and combined statement of cash flows $ ( 47.6 ) $ ( 199.8 ) $ 316.9

Subsequent Events

Subsequent Events	12 Months Ended
	May 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note T – Subsequent Events On June 26, 2024, Worthington Steel’s Board of Directors (the “Board”) declared a quarterly cash dividend of $ 0.16 per common share payable on September 27, 2024, to the shareholders of record at the close of business on September 13, 2024.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	May 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	WORTHINGTON STEEL, INC. AND SUBSIDIARIES SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS Description Balance at Charged Adjustments to Allowance Balance at Fiscal 2024: Deducted from asset accounts: Allowance for $ 2.6 $ 1.1 $ ( 0.5 ) $ 3.2 Fiscal 2023: Deducted from asset accounts: Allowance for $ 0.8 $ 1.6 $ 0.2 $ 2.6 Fiscal 2022: Deducted from asset accounts: Allowance for $ 0.1 $ 0.7 $ - $ 0.8

Description of Business, The _2

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation (Policies)	12 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates: The preparation of consolidated and combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated and combined financial statements and accompanying notes and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the consolidated and combined financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents: The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. At May 31, 2024 , cash and cash equivalents included cash held in banks, and short-term, highly liquid investments. Short-term investments are measured at fair value using the net asset value per share practical expedient, and therefore, are not classified in the fair value hierarchy. Cash held in banks is measured in the fair value hierarchy using Level 1 inputs.
Inventories	Inventories: Inventories are valued at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method for all inventories. The assessment of net realizable value requires the use of estimates to determine cost to complete, normal profit margin and the ultimate selling price of inventory. The Company believes its inventories were valued appropriately as of May 31, 2024 and May 31, 2023 .
Derivative Financial Instruments	Derivative Financial Instruments: The Company utilizes derivative financial instruments to manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative financial instruments includes commodity price risk. All derivative financial instruments are accounted for using mark-to-market accounting. The accounting for changes in the fair value of a derivative financial instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, if so, the reason for holding it. Gains and losses on fair value hedges are recognized in current period earnings within the same line as the underlying hedged item. Gains and losses on cash flow hedges are deferred as a component of accumulated other comprehensive income or loss (“AOCI”) and recognized in earnings at the time the hedged item affects earnings, within the same financial statement caption as the underlying hedged item. Classification in our consolidated and combined statements of earnings of gains and losses related to derivative financial instruments that do not qualify for hedge accounting is determined based on the underlying intent of the instruments. Cash flows related to derivative financial instruments are generally classified as operating activities in the consolidated and combined statements of cash flows. In order for hedging relationships to qualify for hedge accounting under current accounting guidance, the Company formally documents each hedging relationship and its risk management objective. Derivative financial instruments are executed only with highly-rated counterparties. No credit loss is anticipated on existing instruments, and no material credit losses have been experienced to date. The Company monitors its positions, as well as the credit ratings of counterparties to those positions. The Company discontinues hedge accounting when it is determined that a derivative financial instrument is no longer highly effective in offsetting the hedged risk, expires or is sold, is terminated or is no longer designated as a hedging instrument because it is unlikely that a forecasted transaction will occur or the Company determines that designation as a hedging instrument is no longer appropriate. In all situations in which hedge accounting is discontinued and the derivative financial instrument is retained, the Company continues to carry the derivative financial instrument at its fair value on the consolidated and combined balance sheet and recognizes any subsequent changes in its fair value in net earnings immediately. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and immediately recognizes the gains and losses that were accumulated in AOCI. Refer to “Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding our consolidated and combined balance sheet location and the risk classification of the Company’s derivative financial instruments.
Risks and Uncertainties	Risks and Uncertainties : As of May 31, 2024, excluding our joint ventures, we operated 15 manufacturing facilities worldwide. We also held equity positions in four operating joint ventures, which operated 17 manufacturing facilities worldwide as of May 31, 2024. See “Concentration of Net Sales” section above for more information on the risk related to concentration of the markets in which the Company operates. A significant loss of, or decrease in, business from any of these customers could have an adverse effect on our consolidated net sales and financial results if we were not able to obtain replacement business. Also, the Company’s sales may be increasingly sensitive to deterioration in the financial condition of, or other adverse developments with respect to, one or more of our largest customers. As of May 31, 2024, approximately 21 % of the Company’s consolidated labor force was represented by collective bargaining units, all of which are located in jurisdictions outside of the U.S. where collective bargaining arrangements are customary. The concentration of credit risks from financial instruments related to the markets the Company serves is not expected to have a material adverse effect on the Company’s consolidated and combined financial position, cash flows or future results of operations. The Company’s principal raw material is flat-rolled steel, which is purchased from multiple primary steel producers. The steel industry as a whole has been cyclical, and at times availability and pricing can be volatile due to a number of factors beyond our control. This volatility can significantly affect the Company’s steel costs. In an environment of increasing prices for steel and other raw materials, in general, competitive conditions or contractual obligations may impact how much of the price increases the Company can pass on to customers. To the extent the Company is unable to pass on future price increases in raw materials to customers, financial results could be adversely affected. Also, if steel prices decrease, in general, competitive conditions or contractual obligations may impact how quickly the Company must reduce prices to customers, and the Company could be forced to use higher-priced raw materials to complete orders for which the selling prices have decreased, resulting in inventory holding losses. Declining steel prices could also require the Company to write down the value of inventories to reflect current net realizable value. Further, the number of suppliers has decreased in recent years due to industry consolidation and the financial difficulties of certain suppliers, and consolidation may continue. Accordingly, if delivery from a major steel supplier is disrupted, it may be more difficult to obtain an alternative supply than in the past.
Receivables	Receivables: The Company reviews its receivables on an ongoing basis to ensure that they are properly valued and collectible. Expected lifetime credit losses on receivables are recognized at the time of origination. The Company estimates the allowance for credit losses based on the expected future credit losses using the internal historical loss information and observable and forecasted macroeconomic data. The allowance for doubtful accounts is used to record the estimated risk of loss related to customers’ inability to pay. This allowance is maintained at a level that the Company considers appropriate based on factors that affect collectability, such as the financial health of customers, historical trends of charge-offs and recoveries and current economic and market conditions. As the Company monitors its receivables, it identifies customers that may have payment problems and adjusts the allowance accordingly, with the offset to SG&A. Account balances are charged off against the allowance when recovery is considered remote. The allowance for doubtful accounts increased $ 0.6 million during fiscal 2024 to $ 3.2 million . While the Company believes its allowance for doubtful accounts is adequate, changes in economic conditions, the financial health of customers and bankruptcy settlements could impact its future earnings. If the economic environment and market conditions deteriorate, particularly in the automotive and construction end markets where the Company’s exposure is greatest, additional reserves may be required.
Property and Depreciation	Property and Depreciation: Property, plant and equipment are carried at cost and depreciated using the straight-line method. Buildings and improvements are depreciated over 10 to 40 years and machinery and equipment are depreciated over 3 to 20 years . Depreciation expense was $ 58.5 million , $ 62.7 million and $ 54.2 million during fiscal 2024, fiscal 2023, and fiscal 2022, respectively. Accelerated depreciation methods are used for income tax purposes. The following table presents property, plant and equipment, net, by geographic region as of the end of the past two fiscal years: (In millions) 2024 2023 United States $ 328.4 $ 328.9 Canada 42.3 14.8 Mexico 58.7 36.1 Other 45.4 34.6 Total $ 474.8 $ 414.4
Goodwill and Other Long-Lived Assets	Goodwill and Other Long-Lived Assets: The Company uses the purchase method of accounting for all business combinations and recognize amortizable and indefinite-lived intangible assets separately from goodwill. The acquired assets and assumed liabilities in an acquisition are measured and recognized based on their estimated fair values at the date of acquisition, with goodwill representing the excess of the purchase price over the fair value of the identifiable net assets. A bargain purchase may occur, wherein the fair value of identifiable net assets exceeds the purchase price, and a gain is then recognized in the amount of that excess. Goodwill and intangible assets with indefinite lives are not amortized, but instead are tested for impairment annually, during the fourth quarter of each fiscal year, or more frequently if events or changes in circumstances indicate that impairment may be present. Application of goodwill impairment testing involves judgment, including but not limited to, the identification of reporting units and estimation of the fair value of each reporting unit. A reporting unit is defined as an operating segment or one level below an operating segment. The Company’s operations are organized as a single component, or operating segment. The Company’s reporting units, which are one level below the single operating segment, consist of: (1) Flat Rolled Steel Processing; (2) Electrical Steel; and (3) Laser Welding. Refer to “Note D – Goodwill and Other Long-Lived Assets” for additional information on the goodwill impairment. For goodwill and indefinite-lived intangible assets, the Company tests for impairment by first evaluating qualitative factors including macroeconomic conditions, industry and market considerations, cost factors, and overall financial performance. If there are no potential impairments raised from this evaluation, no further testing is performed. If, however, our qualitative analysis indicates it is more likely than not that the fair value is less than the carrying amount, a quantitative analysis is performed. The quantitative analysis compares the fair value of each reporting unit or indefinite-lived intangible asset to the related carrying amount, and an impairment loss is recognized in our consolidated statements of earnings equivalent to the excess of the carrying amount over the fair value. Fair value is determined based on discounted cash flows or appraised values, as appropriate. The Company’s policy is to perform a quantitative analysis of each reporting unit at least every three to five years. The Company performed its annual impairment evaluation of goodwill and other indefinite-lived intangible assets during the fourth quarter of fiscal 2024 and concluded that no impairment indicators were present. The Company reviews the carrying value of its long-lived assets, including intangible assets with finite useful lives, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable. Impairment testing involves a comparison of the sum of the undiscounted future cash flows of the asset or asset group to its respective carrying amount. If the sum of the undiscounted future cash flows exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the sum of the undiscounted future cash flows, then a second step is performed to determine the amount of impairment, if any, to be recognized. The impairment loss recognized is equal to the amount that the carrying value of the asset or asset group exceeds its fair value. Long-lived assets held for sale are reported at the lower of cost or fair value less costs to sell and are recorded in a single line in our consolidated balance sheets. The Company classifies assets as held for sale if it commits to a plan to sell the assets within one year and actively markets the assets in their current condition for a price that is reasonable in comparison to their estimated fair value. The Company’s impairment testing for both goodwill and other long-lived assets, including intangible assets with finite useful lives, is largely based on cash flow models that require significant judgment and require assumptions about future volume trends, revenue and expense growth rates; and, in addition, external factors such as changes in economic trends and cost of capital. Significant changes in any of these assumptions could impact the outcomes of the tests performed. See “Note D – Goodwill and Other Long-Lived Assets” for additional details regarding these assets and related impairment testing.
Equity Method Investments	Equity method investments: Investments in affiliated companies that the Company does not control, either through majority ownership or otherwise, are accounted for using the equity method. The Company reviews its equity method investment in Serviacero Worthington for impairment whenever events or changes in circumstances indicate that the carrying value of the investment might not be recoverable. Events and circumstances can include, but are not limited to: evidence the Company does not have the ability to recover the carrying value; the inability of the investee to sustain earnings; the current fair value of the investment is less than the carrying value; and other investors cease to provide support or reduce their financial commitment to the investee. If the fair value of the investment is less than the carrying value, and the fair value of the investment will not recover in the near term, then other-than-temporary impairment may exist. When the loss in value of an investment is determined to be other-than-temporary, the Company recognizes an impairment in the period the conclusion is made.
Leases	Leases: The Company accounts for leases in accordance with GAAP, ASU Leases (Topic 842) (“Topic 842”). Under Topic 842, leases are categorized as operating or financing leases at inception. Lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease right of use (“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 that we will exercise such options. As most of our leases do not include an implicit rate, the Company uses its 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 SG&A depending on the underlying nature of the leased assets. For operating leases with variable payments dependent upon an index or rate that commenced subsequent to adoption of Topic 842, the Company applies the active index or rate as of the lease commencement date. Variable lease payments not based on an index or rate are not included in the operating lease liability as they cannot be reasonably estimated and are recognized in the period in which the obligation for those payments is incurred. Leases with a term of twelve months or less upon the commencement date are considered short-term leases, are not included on our consolidated and combined balance sheets and are expensed on a straight-line basis over the lease term. Refer to “Note R – Leases” for additional information on the adoption and impact of Topic 842.
Stock-Based Compensation	Stock-Based Compensation: As of May 31, 2024, the Company had stock-based compensation plans for its employees as well as its non-employee directors as described more fully in “Note K – Stock-Based Compensation.” All share-based awards, including grants of stock options and restricted common shares, are recorded as expense in the consolidated and combined statements of earnings over the vesting period based on their grant date fair values. Forfeitures are recognized as they occur.
Revenue Recognition	Revenue Recognition : Revenue is recognized in accordance with GAAP, ASU 2014-09, Revenue from Contracts with Customers (Topic 606) (“Topic 606”). Under this accounting guidance, the Company recognizes revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration the Company expects to receive for those goods or services, including any variable consideration. Returns and allowances are used to record estimates of returns or other allowances resulting from quality, delivery, discounts or other issues and are estimated based on historical trends and current market conditions, with the offset to net sales. Shipping and handling costs charged to customers are treated as fulfillment activities and are recorded in both net sales and cost of goods sold at the time control is transferred to the customer. Due to the short-term nature of the Company’s contracts with customers, we have elected to apply the practical expedients under Topic 606 to: (1) expense as incurred, incremental costs of obtaining a contract; and (2) not adjust the consideration for the effects of a significant financing component for contracts with an original expected duration of one year or less. When the Company satisfies (or partially satisfy) a performance obligation, prior to being able to invoice the customer, the Company recognizes an unbilled receivable when the right to consideration is unconditional and a contract asset when the right to consideration is conditional. Unbilled receivables and contract assets are included in receivables and prepaid expenses and other current assets, respectively, on the consolidated and combined balance sheets. Additionally, the Company does not maintain contract liability balances, as performance obligations are satisfied prior to customer payment for products. Payments from customers are generally due within 30 to 60 days of invoicing, which generally occurs upon shipment or delivery of the goods. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that we collect from a customer, are excluded from revenue. Certain contracts with customers include warranties associated with the delivered goods or services. These warranties are not considered to be separate performance obligations, and accordingly, the Company records an estimated liability for potential warranty costs as the goods or services are transferred. With the exception of toll processing revenue, the Company recognizes revenue at the point in time the performance obligation is satisfied and control of the product is transferred to the customer upon shipment or delivery. Generally, the Company receives and acknowledges purchase orders from customers, which define the quantity, pricing, payment and other applicable terms and conditions (as defined in a master sales agreement, where applicable). In some cases, we receive a blanket purchase order from customers, which includes pricing, payment and other terms and conditions, with quantities defined at the time each customer subsequently issues periodic releases against the blanket purchase order. Toll processing revenues are recognized over time and are primarily measured using the cost-to-cost method, which we believe best depicts the transfer of control to the customer. Under the cost-to-cost method, the extent of progress towards completion is measured based on the ratio of actual costs incurred to the total estimated costs expected upon satisfying the identified performance obligation. Revenues are recorded proportionally as costs are incurred. The Company has elected to not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Certain contracts contain variable consideration, which is not constrained, and primarily include estimated sales returns, customer rebates, and sales discounts which are recorded on an expected value basis. These estimates are based on historical returns, analysis of credit memo data and other known factors. The Company accounts for rebates by recording reductions to revenue for rebates in the same period the related revenue is recorded. The amount of these reductions is based upon the terms agreed to with the customer. The Company does not exercise significant judgments in determining the timing of satisfaction of performance obligations or the transaction price. Refer to “Note B – Revenue Recognition” for additional information. The following table presents net sales by geographic region for the past three fiscal years: (In millions) 2024 2023 2022 United States $ 2,752.0 $ 2,892.2 $ 3,440.0 Canada 392.6 406.1 387.9 Mexico 181.3 213.7 179.1 Other 104.7 95.7 61.9 Total $ 3,430.6 $ 3,607.7 $ 4,068.9 Cost of Goods Sold: Cost of goods sold is primarily comprised of direct materials and supplies consumed in the manufacturing of product, as well as manufacturing labor, depreciation expense, repair and maintenance expense and direct overhead expenses associated with manufacturing products for sale. Cost of goods sold also includes the cost to distribute products to customers and inbound freight costs. Selling, General and Administrative Expense: SG&A is primarily comprised of payroll and benefit expenses, administrative and other indirect overhead costs and other miscellaneous operating items not specifically categorized elsewhere in the Consolidated and Combined Statements of Earnings.
Cost of Goods Sold	Cost of Goods Sold: Cost of goods sold is primarily comprised of direct materials and supplies consumed in the manufacturing of product, as well as manufacturing labor, depreciation expense, repair and maintenance expense and direct overhead expenses associated with manufacturing products for sale. Cost of goods sold also includes the cost to distribute products to customers and inbound freight costs.
Selling, General and Administrative Expense	Selling, General and Administrative Expense: SG&A is primarily comprised of payroll and benefit expenses, administrative and other indirect overhead costs and other miscellaneous operating items not specifically categorized elsewhere in the Consolidated and Combined Statements of Earnings.
Advertising Expense	Advertising Expense: Advertising costs are expensed to SG&A as incurred. Advertising expense was $ 0.8 million , $ 1.2 million , and $ 0.6 million for fiscal 2024, fiscal 2023 and fiscal 2022 , respectively.
Statements of Cash Flows	Statements of Cash Flows: S upplemental cash flow information was as follows for the prior three fiscal years: (In millions) 2024 2023 2022 Interest paid, net of amount capitalized (1) $ 4.5 n/a n/a Income taxes paid, net of refunds (1) $ 37.6 n/a n/a (1) The amount of interest paid, net of amount capitalized and cash paid for income taxes paid, net of refunds, for the periods prior to the Separation was not distinguishable for the Company. These amounts were combined with the Former Parent. Due to the legal organizational structure, capital structure, as well as income tax compliance requirements, the amounts for the Company are indivisible from those that were included with the Former Parent. The amounts disclosed for income taxes paid, net of refunds represent all distinguishable amounts, which includes domestic taxes paid after the Separation and foreign taxes paid for the entire fiscal year.
Income Taxes	Income Taxes: The Company accounts for income taxes using the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between the tax basis and the financial reporting basis of the Company’s assets and liabilities. The Company evaluates the deferred tax assets to determine whether it is more likely than not that all, or a portion, of the deferred tax assets will not be realized and provides a valuation allowance as appropriate. Tax benefits from uncertain tax positions that are recognized in the consolidated and combined financial statements are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The Company has reserves for income taxes and associated interest and penalties that may become payable in future years as a result of audits by taxing authorities. It is the Company’s policy to record these in income tax expense. While the Company believes the positions taken on previously filed tax returns are appropriate, the Company has established the tax and interest/penalties reserves in recognition that various taxing authorities may challenge our positions. These reserves are analyzed periodically, and adjustments are made as events occur to warrant adjustment to the reserves, such as lapsing of applicable statutes of limitations, conclusion of tax audits, additional exposure based on current calculations, identification of new issues and release of administrative guidance or court decisions affecting a particular tax issue.
Employee Pension Plans	Employee Pension Plans : Defined benefit pension and OPEB plan obligations are remeasured at least annually as of May 31 based on the present value of projected future benefit payments for all participants for services rendered to date. The measurement of projected future benefits is dependent on the provisions of each specific plan, demographics of the group covered by the plan, and other key measurement assumptions. Net periodic benefit costs, including service cost, interest cost, and expected return on assets, are determined using assumptions regarding the benefit obligation and the fair value of plan assets as of the beginning of each year. The funded status of the benefit plans, which represents the difference between the benefit obligation and the fair value of plan assets, is calculated on a plan-by-plan basis. The benefit obligation and related funded status are determined using assumptions as of the end of each year. Net periodic benefit cost is included in other income (expense) in the consolidated and combined statements of earnings, except for the service cost component, which is recorded in SG&A. Refer to “Note L – Employee Retirement Plans” for additional information.
Business Combinations	Business Combinations: The Company accounts for business combinations using the acquisition method of accounting, which requires that once control is obtained, all the assets acquired and liabilities assumed are recorded at their respective fair values at the date of acquisition. The determination of fair values of identifiable assets and liabilities requires significant judgments and estimates and the use of valuation techniques when market value is not readily available. For the valuation of intangible assets acquired in a business combination, the Company typically uses an income approach. The purchase price allocated to the intangible assets is based on unobservable assumptions, inputs and estimates, including but not limited to, forecasted revenue growth rates, projected expenses, discount rates, customer attrition rates, royalty rates, and useful lives. The excess of the purchase price over the fair values of identifiable assets acquired and liabilities assumed is recorded as goodwill. During the measurement period, which is up to one year from the acquisition date, the Company may record adjustments to the fair value of assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.
Self-Insurance Reserves	Self-Insurance Reserves: The Company self-insures most of its risks for product, cyber, environmental, workers’ compensation, general and automobile, property liabilities, and for employee medical claims. However, in order to reduce risk and better manage overall loss exposure for these liabilities, the Company purchases stop-loss insurance that covers individual claims in excess of the deductible amounts. The Company establishes and reassesses reserves for the estimated cost to resolve open claims that have been made against us, as well as an estimate of the cost of claims that have been incurred but not reported (“IBNR”). Loss exposure related to known events are established based on our assessment of the likelihood of an unfavorable outcome and the estimated range of potential loss. IBNR reserves are established based on actuarial valuations that take into consideration the historical average claim volume, the average cost for settled claims, current trends in claim costs, changes in our business and workforce, general economic factors and other assumptions believed to be reasonable under the circumstances. The estimated reserves for these liabilities could be affected if future occurrences and claims differ from the assumptions used and historical trends. Exposures for employee medical costs and workers’ compensation have had and will continue to have a material impact on our operations. All other loss exposures were immaterial for the periods presented.
Reclassifications	Reclassifications: The Company has reclassified the presentation of certain prior-year information to conform to the current presentation.
Recently Issued Accounting Standards/Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Standards : The Company assesses the adoption impacts of recently issued accounting pronouncements on the Company’s consolidated and combined financial statements as well as material updates to previous assessments. There were no new material accounting standards adopted in the year ended May 31, 2024 that impacted the Company. New Accounting Pronouncements Not Yet Adopted: In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires the disclosure of incremental information about significant segment expenses. The guidance also requires disclosure of the CODM’s position for each segment and detail of how the CODM uses financial reporting to assess their segment’s performance. The new guidance is effective for fiscal years beginning after December 15, 2023 and for interim periods beginning after December 15, 2024. The Company is currently evaluating the effect the adoption of the ASU may have on its disclosures. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures , which expands disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The ASU is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the effect the adoption of the ASU may have on its disclosures. The significant accounting policies discussed herein are not intended to represent a comprehensive list of all of the Company’s accounting policies. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP, with a lesser need for the Company’s judgment in its application. There are also areas in which the Company’s judgment in selecting an available alternative would not produce a materially different result.

Description of Business, The _3

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation (Tables)	12 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Property, Plant and Equipment, Net by Geographic Region	The following table presents property, plant and equipment, net, by geographic region as of the end of the past two fiscal years: (In millions) 2024 2023 United States $ 328.4 $ 328.9 Canada 42.3 14.8 Mexico 58.7 36.1 Other 45.4 34.6 Total $ 474.8 $ 414.4
Net Sales by Geographic Region	The following table presents net sales by geographic region for the past three fiscal years: (In millions) 2024 2023 2022 United States $ 2,752.0 $ 2,892.2 $ 3,440.0 Canada 392.6 406.1 387.9 Mexico 181.3 213.7 179.1 Other 104.7 95.7 61.9 Total $ 3,430.6 $ 3,607.7 $ 4,068.9
Supplemental Cash Flow Information	S upplemental cash flow information was as follows for the prior three fiscal years: (In millions) 2024 2023 2022 Interest paid, net of amount capitalized (1) $ 4.5 n/a n/a Income taxes paid, net of refunds (1) $ 37.6 n/a n/a (1) The amount of interest paid, net of amount capitalized and cash paid for income taxes paid, net of refunds, for the periods prior to the Separation was not distinguishable for the Company. These amounts were combined with the Former Parent. Due to the legal organizational structure, capital structure, as well as income tax compliance requirements, the amounts for the Company are indivisible from those that were included with the Former Parent. The amounts disclosed for income taxes paid, net of refunds represent all distinguishable amounts, which includes domestic taxes paid after the Separation and foreign taxes paid for the entire fiscal year.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	May 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue by Product Class and Over Time	The following table summarizes net sales by product class for fiscal 2024, fiscal 2023 and fiscal 2022: (In millions) 2024 2023 2022 Product class Direct $ 3,269.4 $ 3,464.9 $ 3,923.1 Toll 161.2 142.8 145.8 Total $ 3,430.6 $ 3,607.7 $ 4,068.9
Summary of Unbilled Receivable and Contract Assets	The following table summarizes the unbilled receivables at the end of fiscal 2024 and fiscal 2023: (In millions) Balance Sheet Classification 2024 2023 Unbilled receivables Receivables $ 5.6 $ 3.7 (1) There were no contract assets at either of the dates indicated above.

Investment in Unconsolidated _2

Investment in Unconsolidated Affiliate (Tables)	12 Months Ended
	May 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Financial Position, Information and Net Earnings	The following table presents the financial position of Serviacero Worthington accounted for using the equity method as of May 31: (In millions) 2024 2023 Cash and cash equivalents $ 5.7 $ 12.2 Other current assets 274.7 238.2 Noncurrent assets 58.3 58.9 Total assets $ 338.7 $ 309.3 Current liabilities $ 64.7 $ 70.8 Other noncurrent liabilities 5.2 5.4 Equity 268.8 233.1 Total liabilities and equity $ 338.7 $ 309.3 The following table presents summarized financial information for Serviacero Worthington as of, and for the fiscal years ended May 31: (In millions) 2024 2023 2022 Net sales $ 604.1 $ 564.6 $ 620.3 Gross margin 70.4 21.5 96.9 Operating income 56.4 10.4 87.3 Depreciation and amortization 4.4 4.0 4.3 Interest expense - 0.3 0.2 Income tax expense (benefit) 8.4 ( 3.0 ) 25.1 Net earnings 44.8 15.5 59.6 The following table presents the net earnings of Serviacero Worthington attributable to the Company for the fiscal years ended May 31: (In millions) 2024 2023 2022 Equity in net income of unconsolidated affiliate $ 22.4 $ 7.7 $ 29.8

Goodwill and Other Long-Lived_2

Goodwill and Other Long-Lived Assets (Tables)	12 Months Ended
	May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The following table summarizes the changes in the carrying amount of goodwill during fiscal 2024 and fiscal 2023: (In millions) Total Balance at May 31, 2022 $ 80.0 Acquisitions and purchase accounting adjustments (1) ( 0.8 ) Translation adjustments ( 0.6 ) Balance at May 31, 2023 78.6 Acquisitions and purchase accounting adjustments (1) 1.1 Translation adjustments ( 0.1 ) Balance at May 31, 2024 $ 79.6 (1) For additional information regarding our acquisitions, refer to “ Note O – Acquisitions.”
Summary of Other Intangible Assets by Class	The following table summarizes other intangible assets by class as of the end of the prior two fiscal years: 2024 2023 Accumulated Accumulated (In millions) Cost Amortization Cost Amortization Indefinite-lived intangible assets: Trademarks $ 5.2 $ - $ 5.2 $ - In-process research & development 1.3 - 1.3 - Total indefinite-lived intangible assets 6.5 - 6.5 - Definite-lived intangible assets: Customer relationships $ 102.8 $ 39.8 $ 102.8 $ 35.0 Non-compete agreements 2.0 2.0 2.0 1.9 Technology/know-how 11.0 3.5 11.0 2.0 Total definite-lived intangible assets 115.8 45.3 115.8 38.9 Total intangible assets $ 122.3 $ 45.3 $ 122.3 $ 38.9
Estimated Amortization Expense	Amortization expense for each of the next five fiscal years is estimated to be: (In millions) 2025 $ 6.1 2026 $ 5.8 2027 $ 5.8 2028 $ 5.8 2029 $ 5.5

Restructuring and Other Incom_2

Restructuring and Other Income, Net (Tables)	12 Months Ended
	May 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net	A progression of the liabilities associated with the restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption in our consolidated statement of earnings for fiscal 2023, is summarized below: Beginning Expense Ending (In millions) Balance (Income) Payments Adjustments Balance Early retirement and severance $ 0.5 $ 0.1 $ ( 0.6 ) $ - $ - $ 0.5 $ 0.1 $ ( 0.6 ) $ - $ - Net gain on sale of assets ( 4.3 ) Restructuring and other income, net $ ( 4.2 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt and Short-term Borrowings Outstanding	The following table summarizes our long-term debt and short-term borrowings outstanding at May 31, 2024 and 2023: (In millions) 2024 2023 Short-term borrowings and current maturities Revolving credit facility $ 148.0 $ - Current maturities of Term Loan Facility with the Former Parent - 20.0 Other - 2.8 Total short-term borrowings and current maturities 148.0 22.8 Total long-term debt - - Total $ 148.0 $ 22.8
Maturities of Long-term Debt and Short-term Borrowings	The following table provides the maturities of long-term debt and short-term borrowings in the next five fiscal years and the remaining years thereafter: (In millions) Fiscal 2025 $ 148.0 Fiscal 2026 - Fiscal 2027 - Fiscal 2028 - Fiscal 2029 - Thereafter - Total $ 148.0

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	12 Months Ended
	May 31, 2024
Equity [Abstract]
Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss)	The following table summarizes the tax effects of each component of other comprehensive income (loss) for the prior three fiscal years: 2024 2023 2022 (In millions) Before- Tax Net-of- Before- Tax Net-of- Before- Tax Net-of- Foreign currency translation $ ( 1.3 ) $ - $ ( 1.3 ) $ ( 6.8 ) $ - $ ( 6.8 ) $ ( 3.3 ) $ - $ ( 3.3 ) Pension liability adjustment 3.1 ( 0.7 ) 2.4 ( 0.8 ) 0.1 ( 0.7 ) 8.6 ( 2.0 ) 6.6 Cash flow hedges ( 6.7 ) 1.6 ( 5.1 ) 4.5 ( 1.0 ) 3.5 ( 52.1 ) 12.3 ( 39.8 ) Other comprehensive loss $ ( 4.9 ) $ 0.9 $ ( 4.0 ) $ ( 3.1 ) $ ( 0.9 ) $ ( 4.0 ) $ ( 46.8 ) $ 10.3 $ ( 36.5 )
Components of Changes in AOCI	The components of the changes in AOCI at the end of the prior three fiscal years were as follows: Accumulated Foreign Pension Cash Other Currency Liability Flow Comprehensive (In millions) Translation Adjustment Hedges Income (Loss) Balance at May 31, 2022 $ ( 3.8 ) $ 6.7 $ ( 1.0 ) $ 1.9 Other comprehensive loss before reclassifications ( 6.8 ) ( 1.0 ) ( 10.1 ) ( 17.9 ) Reclassification adjustments to income (a) - 0.2 14.6 14.8 Income tax effect - 0.1 ( 1.0 ) ( 0.9 ) Balance at May 31, 2023 $ ( 10.6 ) $ 6.0 $ 2.5 $ ( 2.1 ) Other comprehensive income (loss) before reclassifications ( 1.3 ) 3.5 1.6 3.8 Reclassification adjustments to income (a) - ( 0.4 ) ( 8.3 ) ( 8.7 ) Income tax effect - ( 0.7 ) 1.6 0.9 Balance at May 31, 2024 $ ( 11.9 ) $ 8.4 $ ( 2.6 ) $ ( 6.1 ) (a) The statement of earnings classification of amounts reclassified to net income include: (1) Pension liability adjustment – As disclosed in “Note L – Employee Retirement Plans”; and (2) Cash flow hedges – disclosed in “Note P – Derivative Financial Instruments and Hedging Activities.”

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	May 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Activity for Service-Based Restricted Common Shares	The table below sets forth the service-based restricted common shares activity under the Plans from the Separation date to the year ended May 31, 2024. The calculated pre-tax stock-based compensation expense for these restricted common shares will be recognized on a straight-line basis over their respective three-year service periods. (In thousands, except per common share amounts) Restricted Weighted Outstanding, beginning of year - Awards converted from the Former Parent Plan 957 $ 22.20 Granted 170 29.18 Vested ( 19 ) 19.98 Forfeited ( 39 ) 19.06 Outstanding, end of year 1,069 $ 19.03 Weighted average remaining contractual life of outstanding restricted common shares (in years) 1.37 Aggregate intrinsic value of outstanding restricted common shares $ 35,286 Aggregate intrinsic value of restricted common shares vested during the year $ 573 Pre-tax stock-based compensation for granted awards $ 4,955
Schedule of Assumptions Used to Determine Grant Date Fair Value of Market Based Restricted Common Shares	The following assumptions were used to determine the grant date fair value and the derived service period for these restricted common shares: Expected volatility 41.00 % Risk-free interest rate 4.51 % Actual TSR 14.00 % The following assumptions were used to determine the grant date fair value and the derived service period for these restricted common shares: Dividend yield 2.71 % Expected volatility 41.50 % Risk-free interest rate 0.32 %
Summary of Company's Performance Share Award Activity	The table below summarizes the Company’s performance share award activity under the Plans from the Separation date to the year ended May 31, 2024: (In thousands, except per common share amounts) Performance Shares Weighted Outstanding, beginning of year - Awards converted from the Former Parent Plan 133 $ 22.20 Granted 30 30.55 Vested ( 21 ) 17.36 Forfeited ( 12 ) 17.97 Outstanding, end of year 130 $ 20.72 Weighted average remaining contractual life of outstanding performance shares (in years) 1.30 Aggregate intrinsic value of outstanding performance shares $ 4,291 Aggregate intrinsic value of performance shares vested during the year $ 696 Pre-tax stock-based compensation for granted awards $ 923

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	12 Months Ended
	May 31, 2024
Schedule of Defined Contribution Plan Expense	The following table summarizes the defined contribution plan expense for the prior three fiscal years: (In millions) 2024 2023 2022 Defined contribution plan expense $ 12.3 $ 9.8 $ 8.8
Components of Net Periodic Pension Income for Defined Benefit Pension Plans	The following table summarizes the components of net periodic pension income for the Company’s defined benefit pension plans for the prior three fiscal years: (In millions) 2024 2023 2022 Defined benefit plans: Interest cost $ 3.6 $ 3.4 $ 1.4 Return on plan assets ( 4.0 ) ( 3.9 ) ( 2.1 ) Net amortization and deferral costs ( 0.3 ) ( 0.1 ) - Net periodic benefit income $ ( 0.7 ) $ ( 0.6 ) $ ( 0.7 )
Weighted-Average Assumptions Used used to Determine Unfunded Benefit Obligation and Net Periodic Benefit Cost	The following weighted-average assumptions were used to determine the unfunded benefit obligation and net periodic benefit cost: 2024 2023 2022 Benefit obligation: Discount rate 5.52 % 4.80 % 4.32 % Net periodic pension cost: Discount rate 4.76 % 4.32 % 2.66 % Expected long-term rate of return 6.50 % 6.50 % 6.50 %
Reconciliation of the Changes in the Projected Benefit Obligation and Fair Value of Plan Assets and the Funded Status for Defined-benefit Plans	The following tables provide a reconciliation of the changes in the projected benefit obligation and the fair value of plan assets and the funded status for the Company’s defined benefit plans: Pension Benefits Other Benefits (In millions) 2024 2023 2024 2023 Change in benefit obligation Benefit obligation, beginning of year $ 76.9 $ 82.3 $ 3.4 $ 4.1 Service cost - - - - Interest cost 3.6 3.4 0.2 0.2 Plan amendments - - - ( 0.4 ) Actuarial gain ( 5.0 ) ( 3.1 ) ( 0.2 ) ( 0.3 ) Benefits paid ( 5.4 ) ( 5.7 ) ( 0.3 ) ( 0.2 ) Benefit obligations acquired 1.0 - - - Benefits obligation, end of year $ 71.1 $ 76.9 $ 3.1 $ 3.4 Change in plan assets Fair value, beginning of year $ 54.9 $ 56.2 $ - $ - Return on plan assets 2.3 ( 0.5 ) - - Company contributions 1.6 5.0 0.3 0.2 Benefits paid ( 5.4 ) ( 5.8 ) ( 0.3 ) ( 0.2 ) Plan assets acquired 0.1 - - - Fair value, end of year 53.5 54.9 - - Funded status $ ( 17.6 ) $ ( 22.0 ) $ ( 3.1 ) $ ( 3.4 ) Amounts recognized in our consolidated and combined Accrued compensation, contributions to employee benefit plans and related taxes $ - $ - $ ( 0.3 ) $ ( 0.3 ) Other liabilities $ ( 17.6 ) $ ( 22.0 ) $ ( 2.8 ) $ ( 3.1 ) AOCI ( 9.3 ) ( 6.3 ) ( 1.6 ) ( 1.5 ) Amounts recognized in AOCI consist of: Net income $ ( 9.3 ) $ ( 6.3 ) $ ( 1.2 ) $ ( 1.1 ) Net prior service credit - - ( 0.4 ) ( 0.4 ) Total $ ( 9.3 ) $ ( 6.3 ) $ ( 1.6 ) $ ( 1.5 )
Other Changes in Plan Assets And Benefit Obligations Recognized in OCI	The following table shows other changes in plan assets and benefit obligations recognized in OCI during the prior two fiscal years: Pension Benefits Other Benefits (In millions) 2024 2023 2024 2023 Net (gain) loss $ ( 3.4 ) $ 1.3 $ ( 0.2 ) $ ( 0.3 ) Amortization of net (gain) loss 0.3 0.2 0.1 ( 0.4 ) Total recognized in other comprehensive income $ ( 3.1 ) $ 1.5 $ ( 0.1 ) $ ( 0.7 ) Total recognized in net periodic benefit cost (income) and OCI $ ( 3.8 ) $ 0.8 $ - $ ( 0.5 )
Plan Assets for Defined Benefit Plan	Plan assets for the defined benefit plans consisted principally of the following as of the respective measurement dates: May 31, May 31, 2024 2023 Asset category: Equity securities 30 % 37 % Fixed-income funds 46 % 40 % Hedge funds 16 % 16 % Other 8 % 7 % Total 100 % 100 %
Estimated Future Benefits Expected to be Paid	The following estimated future benefits, which reflect expected future service, as appropriate, are expected to be paid under the defined benefit and other postretirement plans during future fiscal years as follows: (In millions) Pension Benefits Other Benefits 2025 $ 6.4 $ 0.3 2026 $ 5.9 $ 0.3 2027 $ 6.1 $ 0.3 2028 $ 6.0 $ 0.3 2029 $ 5.6 $ 0.3 2030-2034 $ 26.8 $ 1.2
Fair Value, Measurements, Recurring
Plan Assets for Defined Benefit Plan	The following table sets forth, by level within the fair value hierarchy, a summary of the defined benefit plans’ assets measured at fair value on a recurring basis at May 31, 2024: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In millions) Fair Value (Level 1) (Level 2) (Level 3) Investment: Cash and cash equivalents $ 4.3 $ 4.3 $ - $ - Fixed-income funds 24.7 24.7 - - Equity funds 16.2 16.2 - - Commingled fund investments measured at net asset value (1) : Hedge funds 8.3 - - - Total $ 53.5 $ 45.2 $ - $ - (1) Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The following table sets forth, by level within the fair value hierarchy, a summary of the defined benefit plans’ assets measured at fair value on a recurring basis at May 31, 2023: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In millions) Fair Value (Level 1) (Level 2) (Level 3) Investment: Cash and cash equivalents $ 3.9 $ 3.9 $ - $ - Fixed-income funds 22.1 22.1 - - Equity funds 20.1 20.1 - - Commingled fund investments measured at net asset value (1) : Hedge funds 8.8 - - - Total $ 54.9 $ 46.1 $ - $ - (1) Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	May 31, 2024
Income Tax Disclosure [Abstract]
Earnings before Income Taxes	Earnings before income taxes for the prior three fiscal years included the following components: (In millions) 2024 2023 2022 U.S. based operations $ 166.3 $ 102.7 $ 208.0 Non – U.S. based operations 49.9 26.0 46.3 Earnings before income taxes 216.2 128.7 254.3 Less: Net earnings attributable to noncontrolling interests (1) 15.4 12.6 19.9 Earnings before income taxes attributable to controlling interest $ 200.8 $ 116.1 $ 234.4 (1) Net earnings attributable to noncontrolling interests are not taxable to the Company.
Components of Income Tax Expense (Benefit)	Significant components of income tax expense (benefit) for the prior three fiscal years were as follows: (In millions) 2024 2023 2022 Current Federal $ 25.3 $ 26.9 $ 30.2 State and local 6.3 4.2 5.1 Foreign 13.4 7.6 5.1 Subtotal 45.0 38.7 40.4 Deferred Federal 4.7 ( 8.6 ) 12.2 State and local ( 0.8 ) ( 0.6 ) 1.1 Foreign ( 2.8 ) ( 0.5 ) 0.3 Subtotal 1.1 ( 9.7 ) 13.6 Total $ 46.1 $ 29.0 $ 54.0
Reconciliation of Federal Statutory Corporate Income Tax Rate to Total Tax Provision	A reconciliation of the federal statutory corporate income tax rate to total tax provision for the prior three fiscal years follows: 2024 2023 2022 Federal statutory corporate income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax benefit 2.2 2.2 2.1 Non-U.S. income taxes at other than federal statutory rate 0.6 1.7 ( 1.6 ) Nondeductible executive compensation 0.6 1.7 1.1 Other ( 1.4 ) ( 1.6 ) 0.5 Effective tax rate attributable to controlling interest 23.0 % 25.0 % 23.1 %
Reconciliation of Unrecognized Tax Benefits	A tabular reconciliation of unrecognized tax benefits follows: (In millions) 2024 2023 2022 Balance at beginning of the year $ 1.2 $ 1.2 $ 0.1 Decreases - tax positions taken in prior years ( 1.0 ) - - Increases - current tax positions - - 1.2 Settlements - - - Lapse of statutes of limitations - - ( 0.1 ) Balance at the end of the year $ 0.2 $ 1.2 $ 1.2
Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities as of May 31 were as follows: (In millions) 2024 2023 Deferred tax assets Accounts receivable $ 1.8 $ 1.3 Inventories 2.8 3.4 Accrued expenses 9.2 14.1 Net operating loss carry forwards 2.8 3.2 Stock-based compensation 1.9 3.4 Operating lease - liability 4.4 2.3 Derivative contracts 0.2 1.5 Other 1.5 0.1 Deferred tax assets before valuation allowance 24.6 29.3 Less: Valuation allowance - - Total deferred tax assets 24.6 29.3 Deferred tax liabilities Property, plant and equipment ( 28.7 ) ( 33.0 ) Investment in affiliated companies, principally due to undistributed earnings ( 10.5 ) ( 12.1 ) Operating lease - ROU assets ( 4.2 ) ( 2.1 ) Other ( 0.6 ) ( 1.9 ) Total deferred tax liability ( 44.0 ) ( 49.1 ) Net deferred tax asset (liability) $ ( 19.4 ) $ ( 19.8 )

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	May 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Common Share	The following table sets forth the computation of basic and diluted earnings per common share for the prior three fiscal years: (In millions, except per common share amounts) 2024 2023 2022 Numerator (basic & diluted): Net earnings attributable to controlling interest – income available to common shareholders $ 154.7 $ 87.1 $ 180.4 Denominator: Denominator for basic earnings per common share attributable to controlling interest – weighted average common shares 49.3 49.3 49.3 Effect of dilutive securities: 0.5 - - Denominator for diluted earnings per common share attributable to controlling interest – adjusted weighted average common shares 49.8 49.3 49.3 Basic earnings per common share attributable to controlling interest $ 3.14 $ 1.77 $ 3.66 Diluted earnings per common share attributable to controlling interest $ 3.11 $ 1.77 $ 3.66 Anti-dilutive non-qualified stock options and restricted common share awards (1) - - - (1) These non-qualified stock options and restricted common share awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. There were no anti-dilutive non-qualified stock options and restricted common share awards prior to the Separation. The number of anti-dilutive non-qualified stock options and restricted common share awards for 2024 was less than 0.1 million.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	May 31, 2024
Tempel Steel Company
Schedule of Unaudited Pro Forma Information	The following unaudited pro forma information presents consolidated and combined financial information for fiscal 2022 as if Tempel had been acquired at the beginning of fiscal 2021. Depreciation and amortization expense included in the pro forma results reflect the acquisition-date fair values assigned to the definite-lived intangible assets and fixed assets of Tempel assuming a June 1, 2020 acquisition date. Adjustments have been made to remove acquisition-related costs and the acquisition date fair value adjustment to acquired inventories. The pro forma adjustments noted above have been adjusted for the applicable income tax impact. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on June 1, 2020. Fiscal Year Ended May 31, (In millions) 2022 Net sales $ 4,307.8 Net earnings attributable to controlling interest $ 199.4

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	12 Months Ended
	May 31, 2024
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of the derivative financial instruments and the respective lines in which they were recorded in our consolidated balance sheet at May 31, 2024: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (In millions) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ 0.2 Accounts payable $ 1.9 Other assets - Other liabilities - Total $ 0.2 $ 1.9 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 3.4 Accounts payable $ 2.5 Other assets - Other liabilities - Total $ 3.4 $ 2.5 Total derivative financial instruments $ 3.6 $ 4.4 GAAP permits an entity to present derivative financial instruments assets and liabilities on a net basis on the balance sheet, provided a right of offset exists and/or when they are subject to a master netting arrangement. The Company’s policy is to record derivative financial instruments on a net basis where the Company has an executed master netting arrangement with counterparties as well as where the right of offset exists. The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis, where allowable under master netting arrangements and/or where the right of offset exists. Had these amounts been recognized on a gross basis, the impact would have been a $ 2.6 million i ncrease in receivables with a corresponding increase in accounts payable. The following table summarizes the fair value of the derivative financial instruments and the respective lines in which they were recorded in our consolidated balance sheet at May 31, 2023: Asset Derivatives Liability Derivatives Balance Balance Sheet Fair Sheet Fair (In millions) Location Value Location Value Derivatives designated as hedging instruments: Commodity contracts Receivables $ - Accounts payable $ 2.7 Other assets 0.1 Other liabilities 0.1 Total $ 0.1 $ 2.8 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 2.2 Accounts payable $ 7.0 Other assets - Other liabilities - Total $ 2.2 $ 7.0 Total derivative financial instruments $ 2.3 $ 9.8
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative financial instruments outstanding at May 31, 2024: Notional (In millions) Amount Maturity Date Commodity contracts $ 22.4 June 2024 – March 2025 The following table summarizes our economic (non-designated) derivative financial instruments outstanding at May 31, 2023: Notional (In millions) Amount Maturity Date Commodity contracts $ 2.4 June 2023 – December 2024
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 earnings for derivative financial instruments designated as cash flow hedges during fiscal 2024 and fiscal 2023: Location of Gain (Loss) Gain (Loss) Reclassified Gain (Loss) Reclassified from AOCI from AOCI into (In millions) Recognized in OCI into Net Earnings Net Earnings For the fiscal year ended May 31, 2024: Commodity contracts 1.6 Cost of goods sold 8.3 Totals $ 1.6 $ 8.3 For the fiscal year ended May 31, 2023: Commodity contracts ( 10.1 ) Cost of goods sold ( 14.6 ) Totals $ ( 10.1 ) $ ( 14.6 )
Schedule of Loss Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the loss recognized in earnings for economic (non-designated) derivative financial instruments during fiscal 2024 and fiscal 2023: Loss Recognized in Earnings Fiscal Year Ended Location of Loss May 31, (In millions) Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ ( 0.4 ) $ ( 11.7 ) Total $ ( 0.4 ) $ ( 11.7 )
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at May 31, 2024: Notional (In millions) Amount Maturity Date Commodity contracts $ 24.5 June 2024 – September 2025 The following table summarizes our cash flow hedges outstanding at May 31, 2023: Notional (In millions) Amount Maturity Date Commodity contracts $ 53.0 June 2023 – September 2024

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	May 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At May 31, 2024, the Company’s assets and liabilities measured at fair value on a recurring basis were as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 3.6 $ - $ 3.6 Total assets $ - $ 3.6 $ - $ 3.6 Liabilities Derivative financial instruments (1) $ - $ 4.4 $ - $ 4.4 Total liabilities $ - $ 4.4 $ - $ 4.4 (1) The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments. At May 31, 2023, the Company’s assets and liabilities measured at fair value on a recurring basis were as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Derivative financial instruments (1) $ - $ 2.3 $ - $ 2.3 Total assets $ - $ 2.3 $ - $ 2.3 Liabilities Derivative financial instruments (1) $ - $ 9.8 $ - $ 9.8 Total liabilities $ - $ 9.8 $ - $ 9.8 (1) The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments.
Assets Measured at Fair Value on Non-Recurring Basis	At May 31, 2023, the Company’s assets measured at fair value on a non-recurring basis were categorized as follows: Quoted Significant Prices Other Significant in Active Observable Unobservable Markets Inputs Inputs (In thousands) (Level 1) (Level 2) (Level 3) Totals Assets Long-lived assets held for sale (1) $ - $ 2.6 $ - $ 2.6 Total assets $ - $ 2.6 $ - $ 2.6 (1) Comprised of the following: (1) idled equipment at the manufacturing facility in Taylor, Michigan; and (2) the net assets the Company’s former WSCP toll processing facility in Cleveland, Ohio. Refer to “ Note D – Goodwill and Other Long-Lived Assets” for additional information.

Leases (Tables)

Leases (Tables)	12 Months Ended
	May 31, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense for fiscal 2024 and fiscal 2023 were as follows: (In millions) 2024 2023 Operating lease expense $ 10.1 $ 9.5 Short-term lease expense 2.6 1.8 Variable lease expense - 0.3 Total lease expense $ 12.7 $ 11.6
Other Information Related to Company' s Leases	Other information related to our leases, as of and for the fiscal years ended May 31, 2024 and May 31, 2023, is provided below: Operating Leases (Dollars in millions) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows $ 9.3 $ 5.7 Financing cash flows $ - $ - ROU assets obtained in exchange for lease liabilities $ 6.7 $ 12.1 Weighted-average remaining lease term (in years) 13.53 14.63 Weighted-average discount rate 3.48 % 3.35 %
Schedule of Future Minimum Lease Payments for Non-Cancelable Operating Leases	Future minimum lease payments for non-cancelable operating leases having an initial or remaining term in excess of one year at May 31, 2024, were as follows: (In millions) Operating Leases 2025 $ 9.9 2026 8.8 2027 7.3 2028 6.9 2029 6.2 Thereafter 55.5 Total 94.6 Less: imputed interest ( 18.7 ) Present value of lease liabilities $ 75.9

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	May 31, 2024
Related Party Transactions [Abstract]
Schedule of reconciliation of total net transfers to and from the parent to the corresponding amount presented in the consolidated and combined statement of cash flows	Net transfers from/(to) the Former Parent, excluding the $ 150.0 million distribution, are included within Net Investment by the Former Parent. The reconciliation of total net transfers to and from the Former Parent to the corresponding amount presented in the consolidated and combined statement of cash flows are as follows: Fiscal Year Ended May 31, (In millions) 2024 2023 2022 Total net transfers from/(to) the Former Parent per consolidated and combined changes in equity $ ( 32.7 ) $ ( 187.3 ) $ 328.0 Less: non-cash net asset contribution from the Former Parent 7.6 - - Less: depreciation expense allocated from the Former Parent 1.2 2.5 3.1 Less: stock-based compensation 6.1 10.0 8.0 Total net transfers from/(to) the Former Parent per consolidated and combined statement of cash flows $ ( 47.6 ) $ ( 199.8 ) $ 316.9

Description of Business, The _4

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation - Additional Information (Detail)	12 Months Ended
	May 31, 2024 USD ($) Facility Jointventure	May 31, 2023 USD ($)	May 31, 2022 USD ($) Jointventure	Dec. 01, 2023 USD ($)	Jun. 08, 2021
Significant Accounting Policies [Line Items]
Number of years of service	70 years
Percentage of pro rata distribution common shares	100%
Cash distribution made as part of spinoff				$ 150,000,000
Cash and cash equivalents received as contribution of assets and liabilities				$ 3,800,000
Separation costs	$ 19,500,000	$ 17,500,000	$ 0
Number of operating joint ventures | Jointventure			4
Derivative financial instruments, credit losses	$ 0
Number of facilities operated | Facility	15
Allowance for doubtful accounts increase (decrease)	$ 600,000
Receivables, allowances	3,200,000	2,600,000
Depreciation Expenses	58,500,000	62,700,000	$ 54,200,000
Advertising Expenses	$ 800,000	$ 1,200,000	$ 600,000
Workforce Subject to Collective Bargaining Arrangements | Labor Force Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	21%
Automotive Industries | Sales Revenue, Net | Product Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	52%	50%	48%
One Automotive Customer | Sales Revenue, Net | Product Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk percentage	14.60%	16.20%	17%
Joint Venture Transactions
Significant Accounting Policies [Line Items]
Number of operating joint ventures | Jointventure	3
Number of facilities operated | Facility	17
Serviacero Worthington
Significant Accounting Policies [Line Items]
Percent of ownership own a noncontrolling interest held in unconsolidated joint venture	50%
Spartan | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	52%
TWB | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	55%				55%
WSCP | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	63%
WSP | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company	51%
Minimum
Significant Accounting Policies [Line Items]
Period allowed for payment of dues to customers	30 days
Maximum
Significant Accounting Policies [Line Items]
Period allowed for payment of dues to customers	60 days
Building and Building Improvements | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	10 years
Building and Building Improvements | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	40 years
Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	3 years
Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life	20 years

Description of Business, The _5

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation - Summary of Property, Plant and Equipment, Net, by Geographic Region (Details) - USD ($) $ in Millions	May 31, 2024	May 31, 2023	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	$ 474.8	$ 414.4	$ 1.4
United States
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	328.4	328.9
Canada
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	42.3	14.8
Mexico
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	58.7	36.1
Other
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	$ 45.4	$ 34.6

Description of Business, The _6

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation - Net Sales by Geographic Region (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 3,430.6	$ 3,607.7	$ 4,068.9
United States
Disaggregation of Revenue [Line Items]
Net sales	2,752	2,892.2	3,440
Canada
Disaggregation of Revenue [Line Items]
Net sales	392.6	406.1	387.9
Mexico
Disaggregation of Revenue [Line Items]
Net sales	181.3	213.7	179.1
Other
Disaggregation of Revenue [Line Items]
Net sales	$ 104.7	$ 95.7	$ 61.9

Description of Business, The _7

Description of Business, The Separation, Agreements with the Former Parent and Separation Costs, and Basis of Presentation - Supplemental Cash Flow Information (Detail) $ in Millions	12 Months Ended
	May 31, 2024 USD ($)	[1]
Accounting Policies [Abstract]
Interest paid, net of amount capitalized	$ 4.5
Income taxes paid, net of refunds	$ 37.6
[1] The amount of interest paid, net of amount capitalized and cash paid for income taxes paid, net of refunds, for the periods prior to the Separation was not distinguishable for the Company. These amounts were combined with the Former Parent. Due to the legal organizational structure, capital structure, as well as income tax compliance requirements, the amounts for the Company are indivisible from those that were included with the Former Parent. The amounts disclosed for income taxes paid, net of refunds represent all distinguishable amounts, which includes domestic taxes paid after the Separation and foreign taxes paid for the entire fiscal year.

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product Class and Timing (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 3,430.6	$ 3,607.7	$ 4,068.9
Direct | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	3,269.4	3,464.9	3,923.1
Toll | Steel Processing
Disaggregation Of Revenue [Line Items]
Net sales	$ 161.2	$ 142.8	$ 145.8

Revenue Recognition - Summary o

Revenue Recognition - Summary of Unbilled Receivables (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Receivables
Unbilled Receivables And Contract Assets [Line Items]
Unbilled receivables	$ 5.6	$ 3.7

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Unbilled Receivables (Parenthetical) (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0

Investment in Unconsolidated _3

Investment in Unconsolidated Affiliate - Additional Information (Detail) - Serviacero Worthington $ in Millions	12 Months Ended
	May 31, 2024 USD ($) Jointventure	May 31, 2023 USD ($)	May 31, 2022 USD ($)
Investments in and Advances to Affiliates [Line Items]
Percent of ownership own a noncontrolling interest held in unconsolidated joint venture	50%
Number of unconsolidated joint ventures | Jointventure	1
Distributions from unconsolidated affiliates	$ 2	$ 12.5	$ 2.5
Consolidated retained earnings undistributed earnings net of tax	$ 56.4	$ 39.6

Investment in Unconsolidated _4

Investment in Unconsolidated Affiliate - Schedule of Financial Position of Unconsolidated Affiliate (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	$ 40.2	$ 32.7
Total assets	1,866.4	1,764.4
Current liabilities	618.4	478.4
Other noncurrent liabilities	34.3	33.6
Equity	985.3	1,029
Total liabilities and equity	1,866.4	1,764.4
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	5.7	12.2
Other current assets	274.7	238.2
Noncurrent assets	58.3	58.9
Total assets	338.7	309.3
Current liabilities	64.7	70.8
Other noncurrent liabilities	5.2	5.4
Equity	268.8	233.1
Total liabilities and equity	$ 338.7	$ 309.3

Investment in Unconsolidated _5

Investment in Unconsolidated Affiliate - Schedule of Financial Information of Unconsolidated Affiliate (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Investments In And Advances To Affiliates [Line Items]
Net sales	$ 3,430.6	$ 3,607.7	$ 4,068.9
Gross margin	439.8	336.5	395.5
Net earnings	170.1	99.7	200.3
Serviacero Worthington
Investments In And Advances To Affiliates [Line Items]
Net sales	604.1	564.6	620.3
Gross margin	70.4	21.5	96.9
Operating income	56.4	10.4	87.3
Depreciation and amortization	4.4	4	4.3
Interest expense	0	0.3	0.2
Income tax expense (benefit)	8.4	(3)	25.1
Net earnings	$ 44.8	$ 15.5	$ 59.6

Investment in Unconsolidated _6

Investment in Unconsolidated Affiliate - Schedule of Net Earnings of Unconsolidated Affiliate (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Investments in and Advances to Affiliates [Line Items]
Equity in net income of unconsolidated affiliate	$ 22.4	$ 7.7	$ 29.8
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Equity in net income of unconsolidated affiliate	$ 22.4	$ 7.7	$ 29.8

Goodwill and Other Long-Lived_3

Goodwill and Other Long-Lived Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions		12 Months Ended
		May 31, 2024	May 31, 2023
Goodwill [Line Items]
Goodwill, Beginning Balance		$ 78.6	$ 80
Acquisitions and purchase accounting adjustments	[1]	1.1	(0.8)
Translation adjustments		(0.1)	(0.6)
Goodwill, Ending Balance		$ 79.6	$ 78.6
[1] For additional information regarding our acquisitions, refer to “ Note O – Acquisitions.”

Goodwill and Other Long-Lived_4

Goodwill and Other Long-Lived Assets - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2021	May 31, 2024	May 31, 2023	May 31, 2022
Goodwill And Other Intangible Assets [Line Items]
Goodwill		$ 79,600,000	$ 78,600,000	$ 80,000,000
Amortization expense		6,300,000	$ 6,300,000	$ 4,800,000
Number of plans			two
Assets held for sale		2,900,000	$ 3,400,000
Impairment charge of long-lived assets		1,400,000
Operating lease assets		72,900,000	75,300,000
Estimate of fair value less costs to sell		200,000
Fixed Assets
Goodwill And Other Intangible Assets [Line Items]
Assets held for sale			2,600,000
Impairment charge of long-lived assets			2,100,000
Production Equipment Member | Twinsburg | WSCP Joint Ventures Facility
Goodwill And Other Intangible Assets [Line Items]
Impairment charge of long-lived assets	$ 3,100,000
Fair Value, Nonrecurring
Goodwill And Other Intangible Assets [Line Items]
Fair market value of assets		$ 0	2,600
Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Goodwill And Other Intangible Assets [Line Items]
Fair market value of assets			$ 2,600
Minimum
Goodwill And Other Intangible Assets [Line Items]
Definite-lived intangible assets, estimated useful lives		3 years
Maximum
Goodwill And Other Intangible Assets [Line Items]
Definite-lived intangible assets, estimated useful lives		20 years

Goodwill and Other Long-Lived_5

Goodwill and Other Long-Lived Assets - Summary of Other Intangible Assets by Class (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Other Intangible Assets [Line Items]
Indefinite-lived intangibles assets, Cost	$ 6.5	$ 6.5
Definite-lived intangibles assets, Cost	115.8	115.8
Total intangible assets, Cost	122.3	122.3
Total intangible assets, Accumulated Amortization	45.3	38.9
Definite-lived intangible assets, Accumulated Amortization	45.3	38.9
Trademarks
Other Intangible Assets [Line Items]
Indefinite-lived intangibles assets, Cost	5.2	5.2
Customer relationships
Other Intangible Assets [Line Items]
Definite-lived intangibles assets, Cost	102.8	102.8
Total intangible assets, Accumulated Amortization	39.8	35
Non-compete agreements
Other Intangible Assets [Line Items]
Definite-lived intangibles assets, Cost	2	2
Total intangible assets, Accumulated Amortization	2	1.9
Technology / know-how
Other Intangible Assets [Line Items]
Definite-lived intangibles assets, Cost	11	11
Total intangible assets, Accumulated Amortization	3.5	2
In-process research & development
Other Intangible Assets [Line Items]
Indefinite-lived intangibles assets, Cost	$ 1.3	$ 1.3

Goodwill and Other Long-Lived_6

Goodwill and Other Long-Lived Assets - Estimated Amortization Expense (Detail) $ in Millions	May 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 6.1
2026	5.8
2027	5.8
2028	5.8
2029	$ 5.5

Restructuring and Other Incom_3

Restructuring and Other Income, Net - Additional Information (Detail) - USD ($)		1 Months Ended	12 Months Ended
	Jun. 09, 2021	Apr. 30, 2022	May 31, 2024	May 31, 2023	May 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and other expense, net			$ 0	$ (4,200,000)	$ (14,500,000)
Restructuring liabilities			0	0	500,000
Net book value		$ 1,400,000	$ 474,800,000	$ 414,400,000
Net cash proceeds		4,000,000
Gain on sale of joint venture facility		$ 2,600,000
Additional incremental early retirement and severance costs					$ 300,000
WSP Joint Venture
Restructuring Cost and Reserve [Line Items]
Net book value	$ 7,600,000
Net cash proceeds	19,800,000
Gain on sale of joint venture facility	$ 12,200,000

Restructuring and Other Incom_4

Restructuring and Other Income, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Detail) - USD ($)	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 0	$ 500,000
Expense (income)		100,000
Payments		(600,000)
Adjustments		0
Ending Balance	0	0	$ 500,000
Net gain on sale of assets		(4,300,000)
Restructuring and other income, net	0	(4,200,000)	(14,500,000)
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 0	500,000
Expense (income)		100,000
Payments		(600,000)
Adjustments		0
Ending Balance		$ 0	$ 500,000

Restructuring and Other Incom_5

Restructuring and Other Income, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Parenthetical) (Detail) - USD ($) $ in Millions		1 Months Ended
	Oct. 31, 2022	Apr. 30, 2022
Restructuring Cost and Reserve [Line Items]
Net cash proceeds		$ 4
Gain on sale of joint venture facility		$ 2.6
WSP Joint Venture
Restructuring Cost and Reserve [Line Items]
Net cash proceeds	$ 20.8
Gain on sale of joint venture facility	3.9
Amount held in escrow	$ 2

Debt - Summary of Long-term Deb

Debt - Summary of Long-term Debt and Short-term Borrowings Outstanding (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Debt Instrument [Line Items]
Total short-term borrowings and current maturities	$ 148	$ 22.8
Total long-term debt	0	0
Total	148	22.8
Revolving Credit Facility
Debt Instrument [Line Items]
Total short-term borrowings and current maturities	148	0
Current maturities of Term Loan Facility with the Former Parent
Debt Instrument [Line Items]
Total short-term borrowings and current maturities	0	20
Other
Debt Instrument [Line Items]
Total short-term borrowings and current maturities	$ 0	$ 2.8

Debt - Maturities on Long-term

Debt - Maturities on Long-term Debt and Short-term Borrowings (Detail) $ in Millions	May 31, 2024 USD ($)
Debt Disclosure [Abstract]
Fiscal 2025	$ 148
Fiscal 2026	0
Fiscal 2027	0
Fiscal 2028	0
Fiscal 2029	0
Thereafter	0
Total	$ 148

Debt - Additional Information (

Debt - Additional Information (Detail) ¥ in Millions			12 Months Ended
	Nov. 30, 2023 USD ($)	Jun. 08, 2021 USD ($)	May 31, 2024 USD ($) CreditArrangements Loan	May 31, 2024 CNY (¥) CreditArrangements Loan	May 31, 2024 INR (₨) CreditArrangements Loan	Jun. 29, 2023 USD ($)	May 31, 2023 USD ($)
Debt And Receivables Securitization [Line Items]
Term loan facility, balance			$ 148,000,000				$ 22,800,000
Short-term loan facilities			148,000,000				2,800,000
TWB Term Loan
Debt And Receivables Securitization [Line Items]
Principal amount		$ 50,000,000
Debt, interest rate		5%
Debt, maturity date		May 31, 2024
Term loan facility, balance			0				20,000,000
AR Facility
Debt And Receivables Securitization [Line Items]
Early termination, other similar fees and penalties paid						$ 0
Line of Credit
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity			7,200,000		₨ 600,000,000
Aggregate capacity			0				0
Stand-by Letters of Credit
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity			12,000,000		₨ 1,000,000,000
Aggregate capacity			$ 0				0
Tempel China
Debt And Receivables Securitization [Line Items]
Number of short-term loan facilities | Loan			3	3	3
Short-term loan facilities			$ 0				$ 2,800,000
Tempel China | Facility One
Debt And Receivables Securitization [Line Items]
Maturity date			Mar. 13, 2024
Aggregate capacity			$ 1,400,000	¥ 10
Tempel China | Facility Two
Debt And Receivables Securitization [Line Items]
Maturity date			Dec. 31, 2024
Aggregate capacity			$ 5,500,000	40
Tempel China | Facility Three
Debt And Receivables Securitization [Line Items]
Maturity date			Dec. 31, 2024
Aggregate capacity			$ 6,900,000	¥ 50
Tempel India
Debt And Receivables Securitization [Line Items]
Number of individual credit arrangements | CreditArrangements			2	2	2
Tempel India | Facility One
Debt And Receivables Securitization [Line Items]
Maturity date			Nov. 19, 2024
Tempel India | Facility Two
Debt And Receivables Securitization [Line Items]
Maturity date			Jan. 09, 2025
Senior Secured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	$ 550,000,000
Outstanding borrowings drawn against credit facility			$ 148,000,000
Maturity date	Nov. 30, 2028
Total Debt issuance costs	$ 2,700,000
Capitalized debt issuance costs	$ 2,500,000
Weighted average interest rate on Credit Facility			6.92%	6.92%	6.92%
Remaining borrowing capacity			$ 402,000,000
Senior Secured Revolving Credit Facility | SOFR Rate Loans
Debt And Receivables Securitization [Line Items]
Debt maturity period			6 months
Senior Secured Revolving Credit Facility | Swing Loan
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity			$ 55,000,000
Swing loan rate			9%	9%	9%
Percentage of maximum amount of credit facility			10%	10%	10%
Effective interest rate			9%	9%	9%

Comprehensive Income (Loss) - S

Comprehensive Income (Loss) - Summary of Tax Effects on Each Component of Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ (1.3)	$ (6.8)	$ (3.3)
Foreign currency translation, tax	0	0	0
Foreign currency translation, net of tax	(1.3)	(6.8)	(3.3)
Pension liability adjustment, before tax	3.1	(0.8)	8.6
Pension liability adjustment, tax	(0.7)	0.1	(2)
Pension liability adjustment, net of tax	2.4	(0.7)	6.6
Cash flow hedges, before tax	(6.7)	4.5	(52.1)
Cash flow hedges, tax	1.6	(1)	12.3
Cash flow hedges, net of tax	(5.1)	3.5	(39.8)
Other comprehensive loss, before tax	(4.9)	(3.1)	(46.8)
Other comprehensive loss, tax	0.9	(0.9)	10.3
Other comprehensive loss	$ (4)	$ (4)	$ (36.5)

Comprehensive Income (Loss) - C

Comprehensive Income (Loss) - Components of Changes in AOCI (Detail) - USD ($) $ in Millions		12 Months Ended
		May 31, 2024	May 31, 2023	May 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 1,154.6	$ 1,266.4	$ 814.8
Income tax effect		0.9	(0.9)	10.3
Balance		1,117.5	1,154.6	1,266.4
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(10.6)	(3.8)
Other comprehensive income (loss) before reclassifications		(1.3)	(6.8)
Reclassification adjustments to income	[1]	0	0
Income tax effect		0	0
Balance		(11.9)	(10.6)	(3.8)
Pension Liability Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		6	6.7
Other comprehensive income (loss) before reclassifications		3.5	(1)
Reclassification adjustments to income	[1]	(0.4)	0.2
Income tax effect		(0.7)	0.1
Balance		8.4	6	6.7
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		2.5	(1)
Other comprehensive income (loss) before reclassifications		1.6	(10.1)
Reclassification adjustments to income	[1]	(8.3)	14.6
Income tax effect		1.6	(1)
Balance		(2.6)	2.5	(1)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(2.1)	1.9	38.4
Other comprehensive income (loss) before reclassifications		3.8	(17.9)
Reclassification adjustments to income	[1]	(8.7)	14.8
Income tax effect		0.9	(0.9)
Balance		$ (6.1)	$ (2.1)	$ 1.9
[1] The statement of earnings classification of amounts reclassified to net income include: (1) Pension liability adjustment – As disclosed in “Note L – Employee Retirement Plans”; and (2) Cash flow hedges – disclosed in “Note P – Derivative Financial Instruments and Hedging Activities.”

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022	Feb. 28, 2023
Class of Stock [Line Items]
Repurchases and retirement of common shares (in shares)	0	0	0
Deferred compensation obligation credited to common share option		$ 0	$ 0
Equity method investment ownership percentage retained	0%
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Common shares, authorized	150,000,000	150,000,000		100
Common shares, shares issued	49,331,514	100		100
Common shares, shares outstanding	49,331,514	100		100
Stock split description	The Amendment (i) effected a stock split of the 100 then-outstanding common shares of the Worthington Steel, Inc. to provide a sufficient capitalization of the Worthington Steel, Inc. to enable the Former Parent to complete the pro rata distribution of 100% of the Company’s outstanding common shares to Former Parent’s shareholders, with each Former Parent shareholder as of the previously announced record date of November 21, 2023 (the “Record Date”) receiving one common share of the Worthington Steel, Inc. for every one common share of Worthington Industries held as of the Record Date, and (ii) eliminated the Company’s stated capital. As of the Separation, there were 49.3 million shares issued and outstanding.
Percentage of pro rata distribution common shares	100%
Issuance of shares due to stock split	49,300,000
Shares outstanding due to stock split	49,300,000
Maximum
Class of Stock [Line Items]
Deferred compensation obligation credited to common share option	$ 100,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, shares in Thousands						12 Months Ended
	Apr. 01, 2024 USD ($) shares	Jun. 25, 2023 $ / shares	Jun. 24, 2022 $ / shares	Jan. 29, 2022	Jun. 25, 2020 USD ($) shares	May 31, 2024 USD ($) Conversion ratio $ / shares shares	May 31, 2023 USD ($) shares	May 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance | shares						8,400
Pre-tax stock-based compensation expense						$ 10,300,000	$ 10,400,000	$ 8,700,000
Conversion ratio | Conversion ratio						3.228
Unrecognized compensation cost						$ 17,800,000
Incremental compensation costs						$ 0
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested awards, expense period						5 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested awards, expense period						3 years
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price percentage of fair market value on the grant date for stock options						100%
Stock options expiration period						10 years
Pre-tax stock-based compensation expense						$ 400,000	$ 200,000	100,000
Unrecognized compensation cost						$ 400,000
Unrecognized compensation cost related to non-vested awards, expense period				1 year 6 months
Outstanding unvested stock options | shares						200
Total intrinsic value						$ 2,900,000
Non-Qualified Stock Options | First Anniversary | Issued On or After June 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting percentage						33%
Non-Qualified Stock Options | Second Anniversary | Issued On or After June 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting percentage						33%
Non-Qualified Stock Options | Third Anniversary | Issued On or After June 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting percentage						33%
Non-Qualified Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price percentage of fair market value on the grant date for stock options						100%
Service-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common shares, granted | shares						170
Weighted average grant date fair value, per common share | $ / shares						$ 29.18
Restricted common shares, outstanding | shares						1,069	0
Restricted common shares, vested | shares						19
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
Restricted common shares, granted | shares	149				35
Common share awards vesting, minimum price per share | $ / shares		$ 65
Common share awards vesting, minimum consecutive days at stated price	40 days	90 days
Weighted average grant date fair value, per common share | $ / shares		$ 20.87	$ 34.83
Pre-tax stock-based compensation	$ 5,400,000				$ 700,000
Market-Based Restricted Common Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annualized ATSR percentage	20%
Market-Based Restricted Common Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annualized ATSR percentage	5%
Former Parent's Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of stock to awards | shares						1,300
Plans and Former Parent's Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense						$ 10,300,000	$ 10,400,000	8,700,000
Stock based compensation expense, after tax						$ 8,000,000	$ 7,800,000	$ 6,700,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Activity for Service-Based Restricted Common Shares (Detail) - Service-Based Restricted Common Shares $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	May 31, 2024 USD ($) $ / shares shares
Restricted Common Shares
Outstanding, beginning of year	0
Awards converted from the Former Parent Plan	957
Granted	170
Vested	(19)
Forfeited	(39)
Outstanding, end of year	1,069
Weighted Average Grant Date Fair Value
Awards converted from the Former Parent Plan | $ / shares	$ 22.2
Granted | $ / shares	29.18
Vested | $ / shares	19.98
Forfeited | $ / shares	19.06
Outstanding, end of year | $ / shares	$ 19.03
Weighted Average Remaining Contractual Life (in years)
Weighted average remaining contractual life of outstanding restricted common shares (in years)	1 year 4 months 13 days
Aggregate intrinsic value
Aggregate intrinsic value of outstanding restricted common shares | $	$ 35,286
Aggregate intrinsic value of restricted common shares vested during the year | $	573
Pre-tax stock-based compensation for granted awards | $	$ 4,955

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions Used to Determine Grant Date Fair Value of Market Based Restricted Common Shares (Detail) - Market-Based Restricted Common Shares	Apr. 01, 2024	Jun. 25, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield		2.71%
Expected volatility	41%	41.50%
Risk-free interest rate	4.51%	0.32%
Actual TSR	14%

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Company's Performance Share Award Activity (Detail) - Performance Award Activity $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	May 31, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of year	0
Awards converted from the Former Parent Plan	133
Granted	30
Vested	(21)
Forfeited	(12)
Outstanding, end of year	130
Weighted Average Grant Date Fair Value
Awards converted from the Former Parent Plan | $ / shares	$ 22.2
Granted | $ / shares	30.55
Vested | $ / shares	17.36
Forfeited | $ / shares	17.97
Outstanding, end of year | $ / shares	$ 20.72
Weighted Average Remaining Contractual Life (in years)
Weighted average remaining contractual life of outstanding restricted common shares (in years)	1 year 3 months 18 days
Aggregate intrinsic value
Aggregate intrinsic value of outstanding restricted common shares | $	$ 4,291
Aggregate intrinsic value of restricted common shares vested during the year | $	696
Pre-tax stock-based compensation for granted awards | $	$ 923

Employee Retirement Plans - Add

Employee Retirement Plans - Additional Information (Detail)	12 Months Ended
	May 31, 2024 USD ($) Age	May 31, 2023 USD ($)	May 31, 2022 USD ($)	Nov. 16, 2023 USD ($)	Dec. 01, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Percentage of matching contribution per dollar	50%
Percentage of plan participants compensation	4%
Employer contribution	3%
Minimum contribution guarantees percentage	3%
Benefit receivable reaching age | Age	65
Description of investment policy and strategy for the defined benefit plan	The investment policy and strategy for the defined benefit plans is: (i) long-term in nature with liquidity requirements that are anticipated to be minimal due to the projected normal retirement date of the average employee and the current average age of participants; (ii) to earn nominal returns, net of investment fees, equal to or in excess of the defined benefit plans’ respective liability growth rate; and (iii) to include a diversified asset allocation of domestic and international equities and fixed income investments.
Expected employer contribution to defined benefit plan during fiscal 2025	$ 1,800,000
Net periodic benefit cost	$ (700,000)	$ (600,000)	$ (700,000)
Discount rate	4.76%	4.32%	2.66%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 100,000	$ 100,000
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value	0	0
Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value	$ 0	$ 0
Tempel Steel Company
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit obligations, net					$ 40,200,000
Voestalpine Automotive Components Nagold GmbH & Co. KG
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit obligations, net				$ 900,000

Employee Retirement Plans - Sum

Employee Retirement Plans - Summary of Defined Contribution Plan Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Defined Contribution Plan [Abstract]
Defined contribution plan expense	$ 12.3	$ 9.8	$ 8.8

Employee Retirement Plans - Com

Employee Retirement Plans - Components of Net Periodic Pension Income for Defined Benefit Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Retirement Benefits [Abstract]
Interest cost	$ 3.6	$ 3.4	$ 1.4
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Return on plan assets	$ (4)	$ (3.9)	$ (2.1)
Net amortization and deferral costs	$ (0.3)	$ (0.1)	$ 0
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Net periodic benefit income	$ (0.7)	$ (0.6)	$ (0.7)

Employee Retirement Plans - Wei

Employee Retirement Plans - Weighted-Average Assumptions Used used to Determine Unfunded Benefit Obligation and Net Periodic Benefit Cost (Detail)	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Benefit obligation:
Discount rate	5.52%	4.80%	4.32%
Net periodic pension cost:
Discount rate	4.76%	4.32%	2.66%
Expected long-term rate of return	6.50%	6.50%	6.50%

Employee Retirement Plans - Rec

Employee Retirement Plans - Reconciliation of Changes in Projected Benefit Obligation and Fair Value of Plan Assets and Funded Status of Defined-benefit Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Change in benefit obligation
Interest cost	$ 3.6	$ 3.4	$ 1.4
Change in plan assets
Return on plan assets	4	3.9	2.1
Pension Benefit
Change in benefit obligation
Benefit obligation, beginning of year	76.9	82.3
Service cost	0	0
Interest cost	3.6	3.4
Plan amendments	0	0
Actuarial gain	(5)	(3.1)
Benefits paid	(5.4)	(5.7)
Benefit obligations acquired	1	0
Benefits obligation, end of year	71.1	76.9	82.3
Change in plan assets
Fair value, beginning of year	54.9	56.2
Return on plan assets	2.3	(0.5)
Company contributions	1.6	5
Benefits paid	(5.4)	(5.8)
Plan assets acquired	0.1	0
Fair value, end of year	53.5	54.9	56.2
Funded status	(17.6)	(22)
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(9.3)	(6.3)
Amounts recognized in AOCI consist of:
Net income	(9.3)	(6.3)
Net prior service credit	0	0
Total	(9.3)	(6.3)
Other Benefits
Change in benefit obligation
Benefit obligation, beginning of year	3.4	4.1
Service cost	0	0
Interest cost	0.2	0.2
Plan amendments	0	(0.4)
Actuarial gain	(0.2)	(0.3)
Benefits paid	(0.3)	(0.2)
Benefit obligations acquired	0	0
Benefits obligation, end of year	3.1	3.4	4.1
Change in plan assets
Fair value, beginning of year	0	0
Return on plan assets	0	0
Company contributions	0.3	0.2
Benefits paid	(0.3)	(0.2)
Plan assets acquired	0	0
Fair value, end of year	0	0	$ 0
Funded status	(3.1)	(3.4)
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(1.6)	(1.5)
Amounts recognized in AOCI consist of:
Net income	(1.2)	(1.1)
Net prior service credit	(0.4)	(0.4)
Total	(1.6)	(1.5)
Accrued Compensation, Contributions to Employee Benefit Plans and Related Taxes | Pension Benefit
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	0	0
Amounts recognized in AOCI consist of:
Total	0	0
Accrued Compensation, Contributions to Employee Benefit Plans and Related Taxes | Other Benefits
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(0.3)	(0.3)
Amounts recognized in AOCI consist of:
Total	(0.3)	(0.3)
Other Liabilities | Pension Benefit
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(17.6)	(22)
Amounts recognized in AOCI consist of:
Total	(17.6)	(22)
Other Liabilities | Other Benefits
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(2.8)	(3.1)
Amounts recognized in AOCI consist of:
Total	(2.8)	(3.1)
AOCI | Pension Benefit
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(9.3)	(6.3)
Amounts recognized in AOCI consist of:
Total	(9.3)	(6.3)
AOCI | Other Benefits
Amounts recognized in our consolidated and combined balance sheets consist of:
Amounts recognized in our consolidated balance sheets	(1.6)	(1.5)
Amounts recognized in AOCI consist of:
Total	$ (1.6)	$ (1.5)

Employee Retirement Plans - Oth

Employee Retirement Plans - Other Changes in Plan Assets And Benefit Obligations Recognized in OCI (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Pension Benefit
Defined Benefit Plan Disclosure [Line Items]
Net (gain) loss	$ (3.4)	$ 1.3
Amortization of net (gain) loss	0.3	0.2
Total recognized in other comprehensive income	(3.1)	1.5
Total recognized in net periodic benefit cost (income) and OCI	(3.8)	0.8
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Net (gain) loss	(0.2)	(0.3)
Amortization of net (gain) loss	0.1	(0.4)
Total recognized in other comprehensive income	(0.1)	(0.7)
Total recognized in net periodic benefit cost (income) and OCI	$ 0	$ (0.5)

Employee Retirement Plans - S_2

Employee Retirement Plans - Summary of Defined Benefit Plan's Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions		May 31, 2024	May 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		$ 53.5	$ 54.9
Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		45.2	46.1
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		4.3	3.9
Cash and Cash Equivalents | Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		4.3	3.9
Fixed-Income Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		24.7	22.1
Fixed-Income Funds | Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		24.7	22.1
Equity Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		16.2	20.1
Equity Funds | Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value		16.2	20.1
Hedge Funds | Commingled Fund Investments Measured at Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit plan assets fair value	[1]	$ 8.3	$ 8.8
[1] Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy.

Employee Retirement Plans - Pla

Employee Retirement Plans - Plan Assets for Defined Benefit Plans (Detail)	May 31, 2024	May 31, 2023
Asset category
Weighted-average asset allocation	100%	100%
Equity Securities
Asset category
Weighted-average asset allocation	30%	37%
Fixed-Income Funds
Asset category
Weighted-average asset allocation	46%	40%
Hedge Funds
Asset category
Weighted-average asset allocation	16%	16%
Other securities
Asset category
Weighted-average asset allocation	8%	7%

Employee Retirement Plans - Est

Employee Retirement Plans - Estimated Future Benefits Expected to be Paid (Detail) $ in Millions	May 31, 2024 USD ($)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2025	$ 6.4
2026	5.9
2027	6.1
2028	6
2029	5.6
2030-2034	26.8
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2025	0.3
2026	0.3
2027	0.3
2028	0.3
2029	0.3
2030-2034	$ 1.2

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Income Taxes [Line Items]
Effective tax rates upon inclusion of net earnings attributable to noncontrolling interests	21.30%	22.50%	21.20%
Tax payable	$ 1
Non - United States
Income Taxes [Line Items]
Net operating loss carry forwards	$ 2.8

Income Taxes - Earnings before

Income Taxes - Earnings before Income Taxes (Detail) - USD ($) $ in Millions		12 Months Ended
		May 31, 2024	May 31, 2023	May 31, 2022
Income Tax Disclosure [Abstract]
U.S. based operations		$ 166.3	$ 102.7	$ 208
Non – U.S. based operations		49.9	26	46.3
Earnings before income taxes		216.2	128.7	254.3
Net earnings attributable to noncontrolling interests	[1]	15.4	12.6	19.9
Earnings before income taxes attributable to controlling interest		$ 200.8	$ 116.1	$ 234.4
[1] Net earnings attributable to noncontrolling interests are not taxable to the Company.

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Current
Federal	$ 25.3	$ 26.9	$ 30.2
State and local	6.3	4.2	5.1
Foreign	13.4	7.6	5.1
Subtotal	45	38.7	40.4
Deferred
Federal	4.7	(8.6)	12.2
State and local	(0.8)	(0.6)	1.1
Foreign	(2.8)	(0.5)	0.3
Subtotal	1.1	(9.7)	13.6
Total	$ 46.1	$ 29	$ 54

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Federal Statutory Corporate Income Tax Rate to Total Tax Provision (Detail)	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory corporate income tax rate	21%	21%	21%
State and local income taxes, net of federal tax benefit	2.20%	2.20%	2.10%
Non-U.S. income taxes at other than federal statutory rate	0.60%	1.70%	(1.60%)
Nondeductible executive compensation	0.60%	1.70%	1.10%
Other	(1.40%)	(1.60%)	0.50%
Effective tax rate attributable to controlling interest	23%	25%	23.10%

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Income Tax Disclosure [Abstract]
Beginning Balance	$ 1.2	$ 1.2	$ 0.1
Decreases - tax positions taken in prior years	(1)	0	0
Increases - current tax positions	0	0	1.2
Lapse of statutes of limitations	0	0	(0.1)
Ending Balance	$ 0.2	$ 1.2	$ 1.2

Income Taxes - Summary of Tax Y

Income Taxes - Summary of Tax Years Open to Examination by Major Tax Jurisdiction (Detail)	12 Months Ended
	May 31, 2024
State and Local Jurisdiction
Income Tax Examination [Line Items]
Open tax years	2020
U.S. | Federal Jurisdiction
Income Tax Examination [Line Items]
Open tax years	2021
Federal Ministry of Finance, Austria | Non - United States
Income Tax Examination [Line Items]
Open tax years	2024
Canada Revenue Agency | Non - United States
Income Tax Examination [Line Items]
Open tax years	2019
China Tax Authority | Non - United States
Income Tax Examination [Line Items]
Open tax years	2021
India Tax Authority | Non - United States
Income Tax Examination [Line Items]
Open tax years	2020
Mexican Tax Authority | Non - United States
Income Tax Examination [Line Items]
Open tax years	2019

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Deferred tax assets
Accounts receivable	$ 1.8	$ 1.3
Inventories	2.8	3.4
Accrued expenses	9.2	14.1
Net operating loss carry forwards	2.8	3.2
Stock-based compensation	1.9	3.4
Operating lease - liability	4.4	2.3
Derivative contracts	0.2	1.5
Other	1.5	0.1
Deferred tax assets before valuation allowance	24.6	29.3
Less: Valuation allowance	0	0
Total deferred tax assets	24.6	29.3
Deferred tax liabilities
Property, plant and equipment	(28.7)	(33)
Investment in affiliated companies, principally due to undistributed earnings	(10.5)	(12.1)
Operating lease - ROU assets	(4.2)	(2.1)
Other	(0.6)	(1.9)
Total deferred tax liability	(44)	(49.1)
Net deferred tax asset (liability)	$ (19.4)	$ (19.8)

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 30, 2023	May 31, 2024		May 31, 2023		May 31, 2022
Numerator (basic & diluted):
Net earnings attributable to controlling interest - income available to common shareholders		$ 154.7		$ 87.1		$ 180.4
Denominator:
Denominator for basic earnings per common share attributable to controlling interest - weighted average common shares		49,300,000		49,300,000		49,300,000
Effect of dilutive securities		500,000		0		0
Denominator for diluted earnings per common share attributable to controlling interest - adjusted weighted average common shares		49,800,000		49,300,000		49,300,000
Basic earnings per common share attributable to controlling interest		$ 3.14		$ 1.77		$ 3.66
Diluted earnings per common share attributable to controlling interest		$ 3.11		$ 1.77		$ 3.66
Anti-dilutive non-qualified stock options and restricted common share awards	0	0	[1]	0	[1]	0	[1]
[1] These non-qualified stock options and restricted common share awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. There were no anti-dilutive non-qualified stock options and restricted common share awards prior to the Separation. The number of anti-dilutive non-qualified stock options and restricted common share awards for 2024 was less than 0.1 million.

Earnings Per Common Share - C_2

Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) - shares		12 Months Ended
	Nov. 30, 2023	May 31, 2024		May 31, 2023	[1]	May 31, 2022	[1]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive non-qualified stock options and restricted common share awards	0	0	[1]	0		0
Maximum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive non-qualified stock options and restricted common share awards		100,000
[1] These non-qualified stock options and restricted common share awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. There were no anti-dilutive non-qualified stock options and restricted common share awards prior to the Separation. The number of anti-dilutive non-qualified stock options and restricted common share awards for 2024 was less than 0.1 million.

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Detail) shares in Millions	6 Months Ended
	Nov. 30, 2023 shares
Earnings Per Share [Abstract]
Number of shares used to calculate earnings (loss) per common share	49.3

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Millions				3 Months Ended	12 Months Ended
	Nov. 16, 2023 USD ($)	Dec. 01, 2021 USD ($)	Jun. 08, 2021 USD ($)	Feb. 28, 2022 USD ($)	May 31, 2024 USD ($)	May 31, 2023 USD ($) Acquisition	May 31, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill					$ 79.6	$ 78.6	$ 80
Pension liability adjustment					(2.4)	$ 0.7	(6.6)
Number of acquisitions | Acquisition						0
Cash consideration for acquired entity, net of cash acquired					21	$ 0	376.7
Net sales					3,430.6	3,607.7	4,068.9
Operating income (loss)					194.5	120.3	226.6
Incremental cost of goods sold					$ 2,990.8	$ 3,271.2	$ 3,673.4
TWB | Joint Venture Transactions
Business Acquisition [Line Items]
Percent of ownership interest held in unconsolidated affiliates			55%		55%
Voestalpine Automotive Components Nagold GmbH & Co. KG
Business Acquisition [Line Items]
Date of acquisition	Nov. 16, 2023
Business acquisition, name of acquired entity	Voestalpine Nagold
Net cash consideration	$ 21
Pension liability	0.9
Property, plant and equipment	12.3
Net working capital	9
Goodwill	0.6
Purchase accounting adjustments, property, plant and equipment	0.3
Purchase accounting adjustments, net working capital	(0.8)
Purchase accounting adjustments, goodwill	0.5
Pension liability adjustment	0
Voestalpine Automotive Components Nagold GmbH & Co. KG | Property, Plant and Equipment
Business Acquisition [Line Items]
Purchase consideration, net	12.6
Voestalpine Automotive Components Nagold GmbH & Co. KG | Net Working Capital
Business Acquisition [Line Items]
Purchase consideration, net	8.2
Voestalpine Automotive Components Nagold GmbH & Co. KG | Goodwill
Business Acquisition [Line Items]
Purchase consideration, net	$ 1.1
Shiloh Industries' U.S. BlankLight
Business Acquisition [Line Items]
Net cash consideration			$ 104.5
Tempel Steel Company
Business Acquisition [Line Items]
Cash consideration for acquired entity, net of cash acquired		$ 272.2
Acquisition related costs		$ 1.9		$ 1.9
Net sales				278.2
Operating income (loss)				8.6
Incremental cost of goods sold				$ 3.8

Acquisitions - Schedule of Unau

Acquisitions - Schedule of Unaudited Pro Forma Information (Details) - Tempel Steel Company $ in Millions	12 Months Ended
	May 31, 2022 USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales	$ 4,307.8
Net earnings attributable to controlling interest	$ 199.4

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	May 31, 2024	May 31, 2023
Derivative [Line Items]
Asset Derivatives at Fair Value	$ 3.6	$ 2.3
Liability Derivatives at Fair Value	4.4	9.8
Derivatives Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	0.2	0.1
Liability Derivatives at Fair Value	1.9	2.8
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value		0.1
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	0.2
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value		0.1
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	3.4	2.2
Liability Derivatives at Fair Value	2.5	7
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	3.4	2.2
Accounts Payable | Derivatives Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Liability Derivatives at Fair Value	1.9	2.7
Accounts Payable | Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Liability Derivatives at Fair Value	$ 2.5	$ 7

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Impact to fair value of derivative assets and liabilities as a result of recognition on a gross basis	$ 2.6	$ 7.3
Losses in accumulated other comprehensive income expected to be reclassified into net earnings	2.6
Losses in accumulated other comprehensive income expected to be reclassified into net income, tax	$ 0.8

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Derivative [Line Items]
Notional Amount	$ (0.4)	$ (11.7)
Commodity Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 22.4	$ 2.4
Commodity Contracts | Minimum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	Jun. 30, 2024	Jun. 30, 2023
Commodity Contracts | Maximum | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date	Mar. 31, 2025	Dec. 31, 2024
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 24.5	$ 53
Cash Flow Hedges | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date	Jun. 30, 2024	Jun. 30, 2023
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date	Sep. 30, 2025	Sep. 30, 2024

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Schedule of Derivatives Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ 1.6	$ (10.1)
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 8.3	$ (14.6)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ 1.6	$ (10.1)
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 8.3	$ (14.6)

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Schedule of Loss Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Derivative [Line Items]
Loss Recognized in Earnings	$ (0.4)	$ (11.7)
Commodity Contracts | Cost of Sales
Derivative [Line Items]
Loss Recognized in Earnings	(0.4)	(11.7)
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Loss Recognized in Earnings	$ 22.4	$ 2.4

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($)	May 31, 2024		May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 3,600		$ 2,300
Liabilities	4,400		9,800
Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	3,600	[1]	2,300	[2]
Liabilities	4,400	[1]	9,800	[2]
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	3,600		2,300
Liabilities	4,400		9,800
Fair Value, Inputs, Level 2 | Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	3,600	[1]	2,300	[2]
Liabilities	$ 4,400	[1]	$ 9,800	[2]
[1] The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments. The fair value of the Company’s derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note P – Derivative Financial Instruments and Hedging Activities” for additional information regarding the use of derivative financial instruments.

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Nonrecurring - USD ($)		May 31, 2024	May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure		$ 0	$ 2,600
Long Lived Assets Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	[1]		2,600
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure			2,600
Fair Value, Inputs, Level 2 | Long Lived Assets Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	[1]		$ 2,600
[1] Comprised of the following: (1) idled equipment at the manufacturing facility in Taylor, Michigan; and (2) the net assets the Company’s former WSCP toll processing facility in Cleveland, Ohio. Refer to “ Note D – Goodwill and Other Long-Lived Assets” for additional information.

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	May 31, 2024	May 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current maturities of long-term debt due to Worthington Enterprises, Inc.	$ 0	$ 20,000,000
Short-term loan facilities	148,000,000	2,800,000
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair market value of assets	0	2,600
Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term loan facilities	$ 148,000,000	$ 0

Leases - Additional Information

Leases - Additional Information (Detail)	May 31, 2024
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	17 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Leases [Abstract]
Operating lease expense	$ 10.1	$ 9.5
Financing lease expense:
Short-term lease expense	2.6	1.8
Variable lease expense	0	0.3
Total lease expense	$ 12.7	$ 11.6

Leases - Other Information Rela

Leases - Other Information Related to Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating Leases, Operating cash flows	$ 9.3	$ 5.7
Operating Leases, ROU assets obtained in exchange for lease liabilities	$ 6.7	$ 12.1
Operating Leases, Weighted-average remaining lease term (in years)	13 years 6 months 10 days	14 years 7 months 17 days
Operating Leases, Weighted-average discount rate	3.48%	3.35%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Non-Cancelable Operating Leases (Detail) $ in Millions	May 31, 2024 USD ($)
Leases [Abstract]
2025	$ 9.9
2026	8.8
2027	7.3
2028	6.9
2029	6.2
Thereafter	55.5
Total	94.6
Less: imputed interest	(18.7)
Present value of lease liabilities	$ 75.9
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022	Jun. 08, 2021
Related Party Transaction [Line Items]
Selling, general and administrative expense	$ 224,400,000	$ 200,800,000	$ 180,300,000
Net sales	3,430,600,000	3,607,700,000	4,068,900,000
Net transfers from (to) the former parent excluding distribution	150,000,000
Current maturities of long-term debt due to Worthington Enterprises, Inc.	0	20,000,000
Interest expense	6,000,000	3,000,000	3,000,000
Former Parent
Related Party Transaction [Line Items]
Selling, general and administrative expense	38,500,000	70,700,000	70,100,000
Net sales	82,100,000	109,800,000	135,600,000
Accounts receivable	9,700,000
Affiliate Companies
Related Party Transaction [Line Items]
Net sales	14,700,000	35,800,000	82,400,000
Accounts receivable	0	0
Purchases from affiliates	17,400,000	0	$ 9,700,000
Accounts payable	$ 0	0
TWB Term Loan
Related Party Transaction [Line Items]
Debt, interest rate				5%
TWB Term Loan | Former Parent
Related Party Transaction [Line Items]
Current maturities of long-term debt due to Worthington Enterprises, Inc.		20,000,000
Debt, interest rate	5%
Interest expense	$ 500,000	$ 1,400,000

Related Party Transactions - Sc

Related Party Transactions - Schedule of reconciliation of total net transfers to and from the parent to the corresponding amount presented in the consolidated and combined statement of cash flows (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Related Party Transaction [Line Items]
Less: depreciation expense allocated from the Former Parent	$ 65.3	$ 69.6	$ 59.5
Stock-based compensation	10.3	10.4	8.7
Total net transfers from/(to) the Former Parent per consolidated and combined statement of cash flows	(47.6)	(199.8)	316.9
Former Parent
Related Party Transaction [Line Items]
Total net transfers from/(to) the Former Parent per consolidated and combined changes in equity	(32.7)	(187.3)	328
Less: non-cash net asset contribution from the Former Parent	7.6	0	0
Less: depreciation expense allocated from the Former Parent	1.2	2.5	3.1
Stock-based compensation	6.1	10	8
Total net transfers from/(to) the Former Parent per consolidated and combined statement of cash flows	$ (47.6)	$ (199.8)	$ 316.9

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Jun. 26, 2024 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividend payable per common share	$ 0.16

SCHEDULE II - Valuation and Q_2

SCHEDULE II - Valuation and Qualifying Accounts (Detail) - Allowance for Doubtful Accounts - USD ($) $ in Millions	12 Months Ended
	May 31, 2024	May 31, 2023	May 31, 2022
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 2.6	$ 0.8	$ 0.1
Charged to Costs and Expenses	1.1	1.6	0.7
Adjustments to Allowance	(0.5)	0.2	0
Balance at End of Period	$ 3.2	$ 2.6	$ 0.8