Commercial Metals (CMC) 10-K 30 Oct 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2015	Oct. 28, 2015	Feb. 28, 2015
Document And Entity Information [Abstract]
Trading Symbol	cmc
Entity Registrant Name	COMMERCIAL METALS CO
Entity Central Index Key	22,444
Document Type	10-K
Document Period End Date	Aug. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--08-31
I.R.S. Employer Identification No.	750,725,338
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		116,361,758
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Minimum Percentage of Share Ownership Deemed Affiliates			10.00%
Entity Public Float			$ 1,731,054,070

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Net sales	$ 5,988,605	$ 6,790,438	$ 6,601,070
Costs and expenses:
Cost of goods sold	5,213,203	6,109,338	5,951,870
Selling, general and administrative expenses	443,275	448,943	439,571
Impairment of assets	9,839	3,305	4,576
Interest expense	77,760	77,037	68,439
Gain on sale of cost method investment	0	0	(26,088)
Total costs and expenses	5,744,077	6,638,623	6,438,368
Earnings from continuing operations before income taxes	244,528	151,815	162,702
Income taxes	83,206	42,724	57,979
Earnings from continuing operations	161,322	109,091	104,723
Earnings (loss) from discontinued operations before income taxes	(20,124)	15,005	(26,094)
Income taxes (benefit)	(436)	8,544	1,310
Earnings (loss) from discontinued operations	(19,688)	6,461	(27,404)
Net earnings	141,634	115,552	77,319
Less net earnings attributable to noncontrolling interests	0	1	4
Net earnings attributable to CMC	$ 141,634	$ 115,551	$ 77,315
Basic earnings (loss) per share attributable to CMC:
Earnings from continuing operations	$ 1.39	$ 0.93	$ 0.90
Earnings (loss) from discontinued operations	(0.17)	0.05	(0.24)
Net earnings	1.22	0.98	0.66
Diluted earnings (loss) per share attributable to CMC:
Earnings from continuing operations	1.37	0.92	0.89
Earnings (loss) from discontinued operations	(0.17)	0.05	(0.23)
Net earnings	$ 1.20	$ 0.97	$ 0.66

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Net earnings	$ 141,634	$ 115,552	$ 77,319
Foreign currency translation adjustment and other:
Foreign currency translation adjustment and other during the year	(83,063)	7,586	(10,108)
Reclassification for translation gain realized upon sale of investment in foreign entity	(10,127)	0	0
Foreign currency translation adjustment and other	(93,190)	7,586	(10,108)
Net unrealized gain (loss) on derivatives:
Unrealized holding gain (loss), net of income taxes of $(1,235), $(526) and $2	(2,467)	(1,848)	221
Reclassification for loss (gain) included in net earnings, net of income taxes of $949, $237 and $(128)	1,758	1,268	(337)
Net unrealized loss on derivatives, net of income taxes of $(286), $(289) and $(126)	(709)	(580)	(116)
Defined benefit obligation:
Net loss, net of income taxes of $(101), $14 and $(51)	(169)	(489)	(168)
Amortization of net loss, net of income taxes of $35, $212 and $45	99	1,392	207
Amortization of prior service credit, net of income taxes of $(14), $(47) and $(38)	(57)	(242)	(170)
Adjustment from plan changes, net of income taxes of $0, $0 and $309	0	0	1,315
Defined benefit obligation, net of income taxes of $(80), $179 and $265	(127)	661	1,184
Other comprehensive income (loss)	(94,026)	7,667	(9,040)
Comprehensive income	$ 47,608	$ 123,219	$ 68,279

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Taxes, unrealized holding gain (loss) on derivatives	$ (1,235)	$ (526)	$ 2
Taxes, reclassification for loss (gain) on derivatives included in net earnings	949	237	(128)
Taxes, net unrealized loss on derivatives	(286)	(289)	(126)
Taxes, net loss of defined benefit obligation	(101)	14	(51)
Taxes, amortization of net loss of defined benefit obligation	35	212	45
Taxes, amortization of prior service credit of defined benefit obligation	(14)	(47)	(38)
Taxes, adjustment from plan changes of defined benefit obligation	0	0	309
Taxes, defined benefit obligation	$ (80)	$ 179	$ 265

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Current assets:
Cash and cash equivalents	$ 485,323	$ 434,925
Accounts receivable (less allowance for doubtful accounts of $9,033 and $5,908)	900,619	1,028,425
Inventories, net	781,371	935,411
Current deferred tax assets	29,137	49,455
Other current assets	93,643	105,575
Assets of businesses held for sale	17,008	0
Total current assets	2,307,101	2,553,791
Property, plant and equipment:
Land	75,086	79,295
Buildings and improvements	489,500	494,842
Equipment	1,670,755	1,728,425
Construction in process	59,241	30,591
Property, plant and equipment, Gross	2,294,582	2,333,153
Less accumulated depreciation and amortization	(1,410,932)	(1,408,055)
Property, plant and equipment, Net	883,650	925,098
Goodwill	66,383	74,319
Other assets	115,168	135,312
Total assets	3,372,302	3,688,520
Current liabilities:
Accounts payable-trade	260,984	423,807
Accounts payable-documentary letters of credit	41,473	125,053
Accrued expenses and other payables	279,415	322,000
Notes payable	20,090	12,288
Current maturities of long-term debt	10,110	8,005
Liabilities of businesses held for sale	5,276	0
Total current liabilities	617,348	891,153
Deferred income taxes	55,803	55,600
Other long-term liabilities	101,919	112,134
Long-term debt	1,277,882	1,281,042
Total liabilities	$ 2,052,952	$ 2,339,929
Commitments and contingencies (Note 18)
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 115,635,338 and 117,829,262 shares	$ 1,290	$ 1,290
Additional paid-in capital	365,863	359,338
Accumulated other comprehensive loss	(113,535)	(19,509)
Retained earnings	1,311,544	1,225,855
Less treasury stock, 13,425,326 and 11,231,402 shares at cost	(245,961)	(218,494)
Stockholders' equity attributable to CMC	1,319,201	1,348,480
Stockholders' equity attributable to noncontrolling interests	149	111
Total equity	1,319,350	1,348,591
Total liabilities and stockholders' equity	$ 3,372,302	$ 3,688,520

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 9,033	$ 5,908
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	129,060,664	129,060,664
Common stock, shares outstanding	115,635,338	117,829,262
Treasury stock, shares	13,425,326	11,231,402

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Cash flows from (used by) operating activities:
Net earnings	$ 141,634	$ 115,552	$ 77,319
Adjustments to reconcile net earnings to cash flows from (used by) operating activities:
Depreciation and amortization	132,779	136,004	136,548
Provision for losses on receivables, net	3,481	(1,760)	4,430
Share-based compensation	23,484	18,051	18,693
Amortization of interest rate swaps termination gain	(7,597)	(7,597)	(12,470)
Loss on debt extinguishment	0	0	4,758
Deferred income taxes	23,291	32,348	54,655
Tax expense from stock-based plans	1,213	4,426	1,444
Net gain on sale of a subsidiary, cost method investment and other	(8,489)	(31,356)	(25,371)
Write-down of inventory	15,935	4,000	3,003
Asset impairments	14,610	3,498	17,270
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	206,633	(143,397)	11,065
Advance payments on sale of accounts receivable programs, net	(117,753)	120,957	(80,580)
Inventories	50,747	(177,331)	26,459
Other assets	23,674	(20,516)	2,894
Accounts payable, accrued expenses and other payables	(180,517)	90,604	(87,375)
Other long-term liabilities	(9,664)	(6,543)	(5,010)
Net cash flows from operating activities	313,461	136,940	147,732
Cash flows from (used by) investing activities:
Capital expenditures	(119,580)	(101,749)	(89,035)
Proceeds from the sale of property, plant and equipment and other	14,925	17,572	13,904
Proceeds from the sale of subsidiaries	27,831	52,609	0
Acquisitions, net of cash acquired	0	(15,693)	0
Proceeds from the sale of cost method investment	0	0	28,995
Net cash flows used by investing activities	(76,824)	(47,261)	(46,136)
Cash flows from (used by) financing activities:
Increase (decrease) in documentary letters of credit, net	(80,482)	11,753	(6,221)
Short-term borrowings, net change	7,802	6,315	(19,524)
Repayments on long-term debt	(11,335)	(7,677)	(204,856)
Proceeds from issuance of long-term debt	0	0	330,000
Payments for debt issuance costs	0	(431)	(4,684)
Debt extinguishment costs	0	0	(4,557)
Decrease (increase) in restricted cash	3,742	18,000	(18,620)
Stock issued under incentive and purchase plans, net of forfeitures	(1,492)	(1,488)	951
Treasury stock acquired	(41,806)	0	0
Cash dividends	(55,945)	(56,428)	(56,028)
Tax expense from stock-based plans	(1,213)	(4,426)	(1,444)
Contribution from (purchase of) noncontrolling interests	38	(15)	13
Net cash flows from (used by) financing activities	(180,691)	(34,397)	15,030
Effect of exchange rate changes on cash	(5,548)	873	(278)
Increase in cash and cash equivalents	50,398	56,155	116,348
Cash and cash equivalents at beginning of year	434,925	378,770	262,422
Cash and cash equivalents at end of year	485,323	434,925	378,770
Noncash activities:
Capital lease additions and changes in accounts payable related to purchases of property, plant and equipment	$ 19,921	$ 21,207	$ 9,781

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Noncontrolling Interests
Beginning balance at Aug. 31, 2012	$ 1,246,507	$ 1,290	$ 365,778	$ (18,136)	$ 1,145,445	$ (248,009)	$ 139
Beginning balance, shares at Aug. 31, 2012		129,060,664
Beginning balance, treasury stock, shares at Aug. 31, 2012						(12,709,240)
Net earnings	77,319				77,315		4
Other comprehensive income (loss)	(9,040)			(9,040)
Cash dividends	(56,028)				(56,028)
Issuance of stock under incentive and purchase plans, net of forfeitures	951		(12,439)			$ 13,390
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						659,566
Stock-based compensation	11,877		11,877
Tax benefits (expense) from stock-based plans	(1,444)		$ (1,444)
Contribution from (purchase of) noncontrolling interests	13						13
Ending balance at Aug. 31, 2013	1,270,155	$ 1,290	$ 363,772	(27,176)	1,166,732	$ (234,619)	156
Ending balance, shares at Aug. 31, 2013		129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2013						(12,049,674)
Beginning balance, treasury stock, shares at Aug. 31, 2013						(12,049,674)
Net earnings	115,552				115,551		1
Other comprehensive income (loss)	7,667			7,667
Cash dividends	(56,428)				(56,428)
Issuance of stock under incentive and purchase plans, net of forfeitures	(1,488)		(17,613)			$ 16,125
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						818,272
Stock-based compensation	17,574		17,574
Tax benefits (expense) from stock-based plans	(4,426)		(4,426)
Contribution from (purchase of) noncontrolling interests	(15)		31				(46)
Ending balance at Aug. 31, 2014	$ 1,348,591	$ 1,290	359,338	(19,509)	1,225,855	$ (218,494)	111
Ending balance, shares at Aug. 31, 2014	129,060,664	129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2014	(11,231,402)					(11,231,402)
Beginning balance, treasury stock, shares at Aug. 31, 2014	(11,231,402)					(11,231,402)
Net earnings	$ 141,634				141,634		0
Other comprehensive income (loss)	(94,026)			(94,026)
Cash dividends	(55,945)				(55,945)
Treasury stock acquired, shares						(2,902,218)
Treasury stock acquired	(41,806)					$ (41,806)
Issuance of stock under incentive and purchase plans, net of forfeitures	(1,492)		(15,831)			$ 14,339
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						708,294
Stock-based compensation	19,621		19,621
Tax benefits (expense) from stock-based plans	(1,213)		$ (1,213)
Contribution from (purchase of) noncontrolling interests	38						38
Reclassification of share-based liability awards	3,948		$ 3,948
Ending balance at Aug. 31, 2015	$ 1,319,350	$ 1,290	$ 365,863	$ (113,535)	$ 1,311,544	$ (245,961)	$ 149
Ending balance, shares at Aug. 31, 2015	129,060,664	129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2015	(13,425,326)					(13,425,326)

CONSOLIDATED STATEMENTS OF STO9

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.48	$ 0.48	$ 0.48

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Aug. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1. NATURE OF OPERATIONS Nature of Operations Through its global operations and marketing offices, Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") recycles ferrous and nonferrous scrap metal, operates steel mills, commonly referred to as "minimills," and steel fabrication facilities and trades and distributes steel and nonferrous metal products and other industrial products worldwide. The Company has five business segments across two geographic divisions. The CMC Americas Division includes three segments: Americas Recycling, Americas Mills and Americas Fabrication. The CMC International Division includes two segments: International Mill and International Marketing and Distribution. Americas Recycling The Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. This segment sells scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers and other consumers. Americas Mills The Americas Mills segment manufactures finished long steel products including reinforcing bar ("rebar"), merchant bar, light structural, some special bar quality ("SBQ") and other special sections as well as semi-finished billets for re-rolling and forging applications. This segment's products are sold to the construction, service center, transportation, steel warehousing, fabrication, energy, petrochemical and original equipment manufacturing industries. The Americas Mills segment also includes ten scrap processing facilities that directly support the steel minimills. Americas Fabrication The Americas Fabrication segment consists of rebar and structural fabrication operations, fence post manufacturing facilities, construction-related product facilities and facilities that heat-treat steel to strengthen and provide flexibility. Fabricated steel products are used primarily in the construction of commercial and non-commercial buildings, hospitals, convention centers, industrial plants, power plants, highways, bridges, arenas, stadiums and dams. International Mill The International Mill segment is comprised of all mill, recycling and fabrication operations located in Poland. This segment manufactures rebar, merchant bar and wire rod. In addition, this segment's fabrication operations sell fabricated rebar, fabricated mesh, assembled rebar cages and other rebar by-products. The International Mill's products are sold primarily to fabricators, manufacturers, distributors and construction companies. International Marketing and Distribution The International Marketing and Distribution segment includes international operations for the sale, distribution and processing of steel products, ferrous and nonferrous metals and other industrial products. Additionally, this segment includes two of the Company's marketing and distribution divisions headquartered in the United States and also operates a recycling facility in Singapore. The International Marketing and Distribution segment buys and sells primary and secondary metals, fabricated metals, semi-finished, long and flat steel products and other industrial products. This segment sells its products to customers, primarily manufacturers, in the steel, nonferrous metals, metal fabrication, chemical, refractory, construction and transportation industries.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned and majority owned subsidiaries and a variable interest entity for which the Company is the primary beneficiary. Intercompany account balances and transactions have been eliminated. Upon inception of an arrangement with a potential variable interest entity, the Company performs an assessment of the contractual agreements that define the ownership structure, risks, responsibilities, indebtedness, voting rights and board representation of the respective parties when determining whether it is the primary beneficiary of the entity. The Company concludes that it is the primary beneficiary and consolidates the variable interest entity if it has both (a) the power to direct the activities that most significantly impact the economic performance of the variable interest entity and (b) the obligation to absorb losses of, or the right to receive benefits from, the variable interest entity that potentially could be significant to the variable interest entity. The Company's assessment of whether it is the primary beneficiary of the variable interest entity is continuously performed. The equity method of accounting is used for investments in affiliates in which the Company has the ability to exert significant influence, but does not have effective control. As of August 31, 2015 , the Company has no investments accounted for under the equity method of accounting. Investments in affiliates which are 20% or less owned are accounted for using the cost method of accounting. Use of Estimates The preparation of the Company's consolidated financial statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of net sales and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of assets received in acquisitions; the carrying value of long-lived assets, including goodwill; valuation allowances for receivables, inventories and deferred income taxes; percentage of completion accounting method for revenue recognition; share-based compensation; potential litigation claims and settlements; and environmental liabilities. Actual results could significantly differ from these estimates and assumptions. Cash and Cash Equivalents Cash and cash equivalents include cash on deposit and short-term, highly-liquid investments with maturities of three months or less at the date of purchase. Restricted cash held by the Company as of August 31, 2015 was not material. As of August 31, 2014 , the Company had restricted cash of $4.1 million held for operational purposes. Restricted cash balances are included in other current assets on the Company's consolidated balance sheets. Revenue Recognition The Company recognizes sales when title passes to the customer either when goods are shipped or when they are delivered based upon the terms of the sale, there is persuasive evidence of an arrangement, the price is fixed or determinable and collectability is reasonably assured. When the Company estimates that a firm purchase commitment from a customer will result in a loss, the Company accrues the entire loss as soon as it is probable and estimable. The Company accounts for certain fabrication projects based on the percentage of completion accounting method, based primarily on contract cost incurred to date compared to total estimated contract cost. Changes to total estimated contract cost, or loss, if any, are recognized in the period in which they are determined. Sales recognized in excess of amounts billed of $25.0 million and $24.2 million are classified as current assets and are reflected in accounts receivable on the Company's consolidated balances sheets as of August 31, 2015 and 2014 , respectively. Shipping and other transportation costs billed to customers are included in net sales and the related costs incurred are reflected in cost of goods sold in the Company's consolidated statements of earnings. Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts to reflect its estimate of the uncollectability of accounts receivable. These reserves are based on historical trends, current market conditions and customers' financial condition. The Company maintains both corporate and divisional credit departments. Credit limits are set for each customer. Some of the Company's divisions use credit insurance or letters of credit to ensure prompt payment in accordance with the terms of sale. Generally, collateral is not required. Approximately 35% and 49% of total receivables at August 31, 2015 and 2014 , respectively, were secured by credit insurance or letters of credit. Inventories, net Inventories are stated at the lower of cost or market. Inventory cost for most U.S. inventories is determined by the last-in, first-out ("LIFO") method. We determine inventory cost for our International Mill segment by the weighted average cost method. The cost for our remaining international and U.S. inventories is determined by the FIFO method. During the first quarter of fiscal 2016 , the Company is considering changing the inventory costing method for all of its LIFO inventories to other inventory costing methods currently used by the Company. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, amortization, utilities, consumable production supplies, maintenance, production, wages and transportation costs. Additionally, the costs of departments that support production, including materials management and quality control, are allocated to inventory. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance is expensed as incurred. Leasehold improvements are amortized over the shorter of their estimated useful lives or the lease term. Depreciation and amortization is recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years The Company evaluates impairment of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment charges are recorded on property, plant and equipment when the carrying value of the operations related to the asset, or group of assets, exceeds the undiscounted cash flows estimated to be generated by those operations. Goodwill and Other Intangible Assets Goodwill is tested for impairment at the reporting unit level annually in the fourth quarter and whenever events or circumstances indicate that the carrying value may not be recoverable. The Company's reporting units represent an operating segment or one level below an operating segment. The Company utilizes the two-step quantitative approach to evaluate goodwill for impairment. The Company performs the first step of the test by comparing the estimated fair value of each reporting unit to its carrying value, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the Company performs the second step of the test to measure the amount of impairment, if any. In the second step of the test, the Company allocates the fair value of the reporting unit to the assets and liabilities of the reporting unit to determine the implied fair value of the goodwill. If the carrying amount of the reporting unit's goodwill exceeds the implied value of goodwill, an impairment loss is recognized. The fair value of each reporting unit is estimated using an income approach based on the present value of expected future cash flows and a market approach based on valuation metrics of comparable peer companies and a reconciliation of the Company's estimate of the aggregate fair value of the reporting units to the Company's market capitalization, including a control premium. The determination of fair value involves a number of significant assumptions and estimates including discount rates, volumes, prices, capital expenditures and the impact of current market conditions. These estimates could be materially impacted by adverse changes in these assumptions. As a result of the annual goodwill impairment analysis in fiscal 2015 , the Company recorded a goodwill impairment charge of $7.3 million related to its Americas Recycling segment. In fiscal 2013, the Company recorded goodwill impairment charges of $6.4 million , including foreign currency translation gains of $0.6 million , related to its Australian subsidiaries. See Note 7, Goodwill and Other Intangible Assets, for additional details of these impairment charges. For fiscal 2015 and 2013, the annual goodwill impairment analysis did not result in any impairment charges at any of the Company's other reporting units. During fiscal 2014 , the annual goodwill impairment analysis did not result in any impairment charges at any of the Company's reporting units. As of August 31, 2015 and 2014 one of the Company's reporting units within the Americas Fabrication reporting segment comprised $51.3 million of the Company's total goodwill. Goodwill at the Company's other reporting units was not material at August 31, 2015 and 2014 . Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment charges are recorded on finite-lived intangible assets when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts. During fiscal 2015 , impairment charges related to the Company's intangible assets with finite lives were not material. As of August 31, 2014 , none of the Company's intangible assets with finite lives were impaired. Contingencies The Company accrues for claims and litigation, including environmental investigation and remediation costs, when they are both probable and the amount can be reasonably estimated. Environmental costs are based upon estimates regarding the sites for which the Company will be responsible, the scope and cost of work to be performed at each site, the portion of costs that will be shared with other parties and the timing of remediation. Where timing and amounts cannot be reasonably determined, a range is estimated and the lower end of the range is typically recorded. Stock-Based Compensation The Company recognizes stock-based equity awards and liability awards at fair value in the financial statements. The fair value of each stock-based equity award is estimated at the date of grant using the Black-Scholes or Monte Carlo pricing model. Total compensation cost of the stock-based equity award is amortized over the requisite service period using the accelerated method of amortization for grants with graded vesting or using the straight-line method for grants with cliff vesting. Stock-based liability awards are measured at fair value at the end of each reporting period and will fluctuate based on the price of CMC common stock and performance relative to the targets. Accounts Payable — Documentary Letters of Credit In order to facilitate certain trade transactions, the Company utilizes documentary letters of credit to provide assurance of payment to its suppliers. These letters of credit are typically for payment at a future date conditional upon the bank determining the documentation presented to be in strict compliance with all terms and conditions of the letter of credit. Banks issue these letters of credit under uncommitted lines of credit, which are in addition to and separate from the Company's contractually committed revolving credit agreement. In some cases, if the Company's suppliers choose to discount the future dated obligation, the Company may pay the fee associated with the discount. Income Taxes CMC and its U.S. subsidiaries file a consolidated federal income tax return. Deferred income taxes are provided for temporary differences between financial statement and income tax bases of assets and liabilities. The principal differences are described in Note 14, Income Tax. Benefits from income tax credits are reflected currently in earnings. The Company intends to indefinitely reinvest all undistributed earnings of non-U.S. subsidiaries. The Company records income tax positions based on a more likely than not threshold that the tax positions will be sustained on examination by the taxing authorities having full knowledge of all relevant information. Foreign Currencies The functional currencies of the Company's Australian, German, Polish, United Kingdom and certain Chinese, Singaporean and Thai operations are their local currencies. The Company's remaining international subsidiaries' functional currency is the U.S. dollar. Translation adjustments are reported as a component of accumulated other comprehensive income (loss). Transaction gains (losses) from transactions denominated in currencies other than the functional currencies were $(45.4) million , $9.0 million and $(5.8) million for the years ended August 31, 2015 , 2014 and 2013 , respectively, and are included in selling, general and administrative expenses in the Company's consolidated statements of earnings. Derivative Financial Instruments The Company records derivative instruments on the balance sheet as assets or liabilities, measured at fair value. Gains or losses from the changes in the values of the derivative instruments and hedged items are recorded in the statements of earnings, or are deferred if they are designated for hedge accounting and are highly effective in achieving offsetting changes in fair values or cash flows of the hedged items during the term of the hedge. Fair Value The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Level 1 represents unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 represents quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable, either directly or indirectly. Level 3 represents valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Recent Accounting Pronouncements In the fourth quarter of fiscal 2015, the Company adopted guidance issued by the Financial Accounting Standards Board ("FASB") specifying that the SEC would not object to an entity deferring and presenting debt issuance costs related to line-of-credit arrangements as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. The Company previously accounted for such debt issuance costs in a manner consistent with the new guidance and the adoption of this guidance did not have a material impact on its consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to net an unrecognized tax benefit with a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The adoption of this guidance did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to release any related cumulative translation adjustment into net income when it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, the guidance resolves the diversity in practice for the treatment of business combinations achieved in stages involving a foreign entity. The Company previously accounted for such transactions in a manner consistent with the new guidance and the adoption of this guidance did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The guidance also requires entities to disclose the nature and amount of the obligation as well as other information about the obligation. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements. In July 2015, the FASB issued guidance requiring entities to measure inventory, other than that measured using LIFO or the retail inventory method, at the lower of cost and net realizable value. This guidance is effective for fiscal years beginning after December 15, 2016 and interim periods therein. The Company plans to early adopt this guidance on a prospective basis in the first quarter of fiscal 2016. In April 2015, the FASB issued guidance clarifying the circumstances under which an entity would account for fees paid in a cloud computing arrangement as a license of internal-use software. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In April 2015, the FASB issued guidance requiring an entity to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In February 2015, the FASB issued guidance modifying the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities. This guidance also eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. Entities may elect to apply this guidance either on a retrospective or a modified retrospective basis. The Company does not expect this guidance to have a material impact on its consolidated financial statements In January 2015, the FASB issued guidance eliminating the concept of extraordinary items. Under this guidance an entity will no longer be allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual in nature and occurs infrequently. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. The Company plans to adopt this guidance prospectively. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued guidance requiring management to evaluate whether there are conditions and events that raise substantial doubt about the entity's ability to continue as a going concern and to provide disclosures in certain circumstances. The new guidance was issued to reduce diversity in the timing and content of footnote disclosures. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2016. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued guidance providing a measurement alternative to the existing fair value measurement guidance for reporting entities that consolidate a collateralized financing entity in which (1) the financial assets and financial liabilities are measured at fair value except for those incidental financial assets and financial liabilities with their carrying values that approximate fair values and (2) the changes in the fair values of those financial assets and financial liabilities are reflected in earnings. When the measurement alternative is elected, the financial assets and liabilities of a collateralized financing entity will be measured using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. This guidance is effective for public business entities for annual periods, and for interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted as of the beginning of an annual period. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In June 2014, the FASB issued guidance requiring entities to account for a performance target as a performance condition if the target affects vesting and could be achieved after the requisite service period. The new guidance did not introduce additional disclosure requirements and was issued to resolve diversity in practice. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015. The Company currently accounts for such performance targets in a manner consistent with the new guidance and does not expect this guidance to have a material impact on its consolidated financial statements. In May 2014, the FASB issued guidance requiring entities to recognize revenue from contracts with customers by applying a five-step model in accordance with the core principle to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this guidance specifies the accounting for some costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. In August 2015, the FASB issued guidance deferring the effective date of this guidance to annual periods beginning after December 15, 2017, including interim reporting periods therein. Entities have the option to adopt this guidance either retrospectively or through a modified retrospective transition method. This new standard will supersede existing revenue guidance and affect the Company's revenue recognition process and the presentations or disclosures of the Company's consolidated financial statements and footnotes. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In April 2014, the FASB issued guidance changing the requirements for reporting discontinued operations if the disposal of a component of an entity, or a group of components of an entity, represents a strategic shift that has, or will have, a major effect on an entity's operations and financial results. The guidance requires expanded disclosures for discontinued operations and also requires entities to disclose the pre-tax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The new guidance is effective prospectively for fiscal years, and interim periods within those years, beginning on or after December 15, 2014. The guidance will affect the Company's current practice of assessing discontinued operations and the presentation and disclosure in the Company's consolidated financial statements.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Aug. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss), net of income taxes, was comprised of the following: (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total Accumulated Other Comprehensive Income (Loss) Balance at September 1, 2012 $ (17,369 ) $ 3,710 $ (4,477 ) $ (18,136 ) Other comprehensive income (loss) before reclassifications (10,108 ) 221 1,147 (8,740 ) Amounts reclassified from AOCI — (337 ) 37 (300 ) Net other comprehensive income (loss) (10,108 ) (116 ) 1,184 (9,040 ) Balance at August 31, 2013 (27,477 ) 3,594 (3,293 ) (27,176 ) Other comprehensive income (loss) before reclassifications 7,586 (1,848 ) (489 ) 5,249 Amounts reclassified from AOCI — 1,268 1,150 2,418 Net other comprehensive income (loss) 7,586 (580 ) 661 7,667 Balance at August 31, 2014 (19,891 ) 3,014 (2,632 ) (19,509 ) Other comprehensive loss before reclassifications (83,063 ) (2,467 ) (169 ) (85,699 ) Amounts reclassified from AOCI (10,127 ) 1,758 42 (8,327 ) Net other comprehensive loss (93,190 ) (709 ) (127 ) (94,026 ) Balance at August 31, 2015 $ (113,081 ) $ 2,305 $ (2,759 ) $ (113,535 ) The significant items reclassified out of accumulated other comprehensive income (loss) and the corresponding line items in the consolidated statements of earnings to which the items were reclassified were as follows: Year Ended August 31, Components of AOCI (in thousands) Location 2015 2014 2013 Foreign currency translation adjustments and other: Translation gain realized upon sale of investment in foreign entity Loss from discontinued operations before income taxes $ 10,127 $ — $ — Unrealized gain (loss) on derivatives: Commodity Cost of goods sold $ (665 ) $ (160 ) $ (260 ) Foreign exchange Net sales 124 (232 ) 60 Foreign exchange Cost of goods sold (2,774 ) (1,698 ) — Foreign exchange SG&A expenses 76 53 48 Interest rate Interest expense 532 532 617 (2,707 ) (1,505 ) 465 Income tax effect Income taxes (expense) benefit 949 237 (128 ) Net of income taxes $ (1,758 ) $ (1,268 ) $ 337 Defined benefit obligation: Amortization of net loss SG&A expenses $ (134 ) $ (1,604 ) $ (252 ) Amortization of prior service credit SG&A expenses 71 289 208 (63 ) (1,315 ) (44 ) Income tax effect Income taxes (expense) benefit 21 165 7 Net of income taxes $ (42 ) $ (1,150 ) $ (37 ) Amounts in parentheses reduce earnings.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Aug. 31, 2015
Business Combinations [Abstract]
Acquisitions	NOTE 4. ACQUISITIONS For the years ended August 31, 2015 and 2013 , the Company did not have any business acquisitions. On June 13, 2014, the Company completed the purchase of substantially all of the assets of Newell Recycling of San Antonio, LP ("Newell Recycling"), a recycling facility in San Antonio, Texas. This acquisition continued the vertical integration model of the Company by providing raw materials for its CMC Steel Texas location, established a larger recycling presence in San Antonio, Texas, and provided an opportunity for continued growth of the Company's recycling operations in the central Texas area. The operating results of this facility are included in the Americas Mills reporting segment. The acquisition of Newell Recycling was not material, individually or in the aggregate, to the Company's financial position or results of operations. Pro forma operating results for the acquisition are not presented, since the results would not be significantly different than reported results.

SALES OF ACCOUNTS RECEIVABLE

SALES OF ACCOUNTS RECEIVABLE	12 Months Ended
	Aug. 31, 2015
Transfers and Servicing [Abstract]
SALES OF ACCOUNTS RECEIVABLE	NOTE 5. SALES OF ACCOUNTS RECEIVABLE During the fourth quarter of fiscal 2014, the Company entered into a third amended $200.0 million U.S. sale of accounts receivable program which expires on August 15, 2017. Under the program, Commercial Metals Company contributes, and several of its subsidiaries sell without recourse, certain eligible trade accounts receivable to CMC Receivables, Inc. ("CMCRV"), a wholly owned subsidiary of CMC. CMCRV is structured to be a bankruptcy-remote entity and was formed for the sole purpose of buying and selling trade accounts receivable generated by the Company. CMCRV sells the trade accounts receivable in their entirety to three financial institutions. Under the amended U.S. sale of accounts receivable program, with the consent of both CMCRV and the program's administrative agent, the amount advanced by the financial institutions can be increased to a maximum of $300.0 million for all trade accounts receivable sold. The remaining portion of the purchase price of the trade accounts receivable takes the form of subordinated notes from the respective financial institutions. These notes will be satisfied from the ultimate collection of the trade accounts receivable after payment of certain fees and other costs. The Company accounts for sales of the trade accounts receivable as true sales, and the trade accounts receivable balances that are sold are removed from the consolidated balance sheets. The cash advances received are reflected as cash provided by operating activities on the Company's consolidated statements of cash flows. Additionally, the U.S. sale of accounts receivable program contains certain cross-default provisions whereby a termination event could occur if the Company defaulted under certain of its credit arrangements. The covenants contained in the receivables purchase agreement are consistent with the credit facility described in Note 11, Credit Arrangements. At August 31, 2015 and 2014 , under its U.S. sale of accounts receivable program, the Company had sold $274.3 million and $389.6 million of trade accounts receivable, respectively, to the financial institutions. At August 31, 2015 , the Company had no advance payments outstanding on the sale of its trade accounts receivable. At August 31, 2014 the Company had $55.0 million in advance payments outstanding on the sale of its trade accounts receivable. In addition to the U.S. sale of accounts receivable program described above, the Company's international subsidiaries in Europe and Australia sell trade accounts receivable to financial institutions without recourse. These arrangements constitute true sales, and once the trade accounts receivable are sold, they are no longer available to the Company's creditors in the event of bankruptcy. In the third quarter of fiscal 2015 , the Company phased out its existing European program and entered into a new, two year renewable, trade accounts receivable sales program with a different financial institution. The new agreement increased the facility limit from PLN 200.0 million to PLN 220.0 million . The European program allows the Company's European subsidiaries to obtain an advance of up to 90% of eligible trade accounts receivable sold under the terms of the arrangement. During the first quarter of fiscal 2014, the Company phased out its existing Australian program and entered into a new, one year renewable, trade accounts receivable sales program with a different financial institution. In October 2014, the Company entered into a first amendment to its Australian program, which extended the maturity date to October 2016. Under the new Australian program, trade accounts receivable balances are sold to a special purpose vehicle, which in turn sells 100% of the eligible trade accounts receivable of Commercial Metals Pty. Ltd., CMC Steel Distribution Pty. Ltd. and G.A.M. Steel Pty. Ltd. to the financial institution. In August 2015, the Company entered into a second amendment to its Australian program, which reduced the facility limit from A$75.0 million to A$40.0 million . The financial institution will fund up to the facility limit for all trade accounts receivable sold, and the remaining portion of the purchase price of the trade accounts receivable is in the form of a subordinated note from the financial institution. This note will be satisfied from the ultimate collection of the trade accounts receivable after payment of certain fees and other costs. The Company accounts for sales of the trade accounts receivable as true sales, and the trade accounts receivable balances that are sold are removed from the consolidated balance sheets. The cash advances received are reflected as cash provided by operating activities on the Company's consolidated statements of cash flows. At August 31, 2015 and 2014 , under its European and Australian programs, the Company had sold $97.9 million and $147.3 million of trade accounts receivable, respectively, to third-party financial institutions and received advance payments of $27.7 million and $90.5 million , respectively. For the years ended August 31, 2015 , 2014 and 2013 , cash proceeds from the U.S. and international sale of accounts receivable programs were $596.4 million , $688.2 million and $1.0 billion , respectively, and cash payments to the owners of accounts receivable were $714.2 million , $567.2 million and $1.1 billion , respectively. For a nominal servicing fee, the Company is responsible for servicing the accounts receivable for the U.S. and Australian programs. Discounts on U.S. and international sales of trade accounts receivable were $2.4 million , $3.9 million and $3.9 million for the years ended August 31, 2015 , 2014 and 2013 , respectively, and are included in selling, general and administrative expenses in the Company's consolidated statements of earnings. The deferred purchase price on the Company's U.S. and international sale of trade accounts receivable programs are included in accounts receivable on the Company's consolidated balance sheets. The following tables summarize the activity of the deferred purchase price receivables for the U.S. and international sale of accounts receivable programs: (in thousands) Total U.S. Australia* Europe Balance at September 1, 2012 $ 515,481 $ 396,919 $ 70,073 $ 48,489 Transfers of accounts receivable 4,423,952 3,570,922 408,530 444,500 Collections (4,486,181 ) (3,609,019 ) (413,607 ) (463,555 ) Balance at August 31, 2013 $ 453,252 $ 358,822 $ 64,996 $ 29,434 Transfers of accounts receivable 4,243,471 3,347,103 487,583 408,785 Collections (4,239,242 ) (3,376,128 ) (446,196 ) (416,918 ) Program termination (72,312 ) — (72,312 ) — Balance at August 31, 2014 $ 385,169 $ 329,797 $ 34,071 $ 21,301 Transfers of accounts receivable 3,574,283 2,944,627 298,179 331,477 Collections (3,619,905 ) (3,004,646 ) (314,212 ) (301,047 ) Balance at August 31, 2015 $ 339,547 $ 269,778 $ 18,038 $ 51,731 _________________________ * Includes the sale of accounts receivable activities related to businesses sold or held for sale (transfer of accounts receivable of $180.0 million and collections of $209.2 million ) for the year ended August 31, 2015 .

INVENTORIES, NET

INVENTORIES, NET	12 Months Ended
	Aug. 31, 2015
Inventory Disclosure [Abstract]
INVENTORIES, NET	NOTE 6. INVENTORIES, NET Inventories are stated at the lower of cost or market. Inventory cost for most U.S. inventories is determined by the LIFO method. At August 31, 2015 and 2014 , 51% and 44% , respectively, of the Company's total net inventories were valued at LIFO. LIFO inventory reserves were $119.5 million and $198.8 million at August 31, 2015 and 2014 , respectively. We determine inventory cost for our International Mill segment by the weighted average cost method. The cost for our remaining international and U.S. inventories is determined by the FIFO method. We record all inventories at the lower of their cost or market value. The majority of the Company's inventories are in the form of finished goods with minimal work in process. At August 31, 2015 and 2014 , before LIFO reserves, $61.5 million and $84.3 million , respectively, of the Company's inventories were in the form of raw materials. During fiscal years 2015 , 2014 and 2013 , inventory in certain LIFO pools was reduced. This reduction resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of current purchases. The effects on net earnings were $3.9 million and $3.5 million for fiscal years 2015 and 2013 , respectively, and immaterial for fiscal year 2014 .

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Aug. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS The following table details the changes in the carrying amount of goodwill by reportable segment: Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Consolidated Balance at September 1, 2013 Goodwill $ 9,751 $ 295 $ 57,637 $ 2,942 $ 8,449 $ 79,074 Accumulated impairment losses (2,484 ) — (493 ) (187 ) (6,331 ) (9,495 ) 7,267 295 57,144 2,755 2,118 69,579 Acquisition — 4,675 — — — 4,675 Translation — — — 21 44 65 Balance at August 31, 2014 Goodwill 9,751 4,970 57,637 2,964 8,805 84,127 Accumulated impairment losses (2,484 ) — (493 ) (188 ) (6,643 ) (9,808 ) 7,267 4,970 57,144 2,776 2,162 74,319 Impairment (7,267 ) — — — — (7,267 ) Goodwill reclassified to assets held for sale (1) — — — (6,643 ) (6,643 ) Accumulated impairment losses reclassified to assets held for sale (1) — — — 6,643 6,643 Translation — — — (419 ) (250 ) (669 ) Balance at August 31, 2015 Goodwill 9,751 4,970 57,637 2,517 1,912 76,787 Accumulated impairment losses (9,751 ) — (493 ) (160 ) — (10,404 ) $ — $ 4,970 $ 57,144 $ 2,357 $ 1,912 $ 66,383 (1) Includes $1.6 million of goodwill and $1.6 million of accumulated goodwill impairment losses related to assets that were sold during the fourth quarter of fiscal 2015. As a result of the Company's annual goodwill impairment analysis in the fourth quarter of fiscal 2015 , the Company determined that the carrying amount of its Americas Recycling reporting unit exceeded its estimated fair value. The resulting impairment charge of $7.3 million was recorded within the Americas Recycling reporting segment in the fiscal year ended August 31, 2015 . The weakened demand for ferrous scrap exports coupled with a lower near term forecast of future operating results were the contributing factors that led to the impairment charges recorded in fiscal 2015 . As of August 31, 2015 and 2014 , one of the Company's reporting units within the Americas Fabrication reporting segment comprised $51.3 million of the Company's total goodwill and the fair value exceeded the carrying value by 18% at August 31, 2015. For all other reporting units with significant goodwill amounts as of August 31, 2015, the excess of the fair value over carrying value of each reporting unit was substantial. The Company estimates the fair value of its reporting units using a weighting of fair values derived from the income and market approaches. Under the income approach, the Company determines the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into account industry and market conditions. The discount rate is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the Company. The market approach, on the other hand, estimates fair value based on market multiples of revenue and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit. As noted above, at August 31, 2015, the excess of one of the Company's reporting segments within the Americas Fabrication segment exceeded the carrying value by 18%. The future occurrence of a potential indicator of impairment could include matters such as: a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or the general business climate, an adverse action or assessment by a regulator, a significant downturn in non-residential construction markets in the United States, and continued levels of imported steel into the United States. In the event of significant adverse changes of the nature described above, it may be necessary for the Company to recognize a non-cash impairment of goodwill, which could have a material adverse effect on the Company's consolidated financial condition and results of operations. The annual goodwill impairment analysis did not result in any impairment charges in fiscal 2014 . As a result of the Company's annual goodwill impairment analysis in the fourth quarter of fiscal 2013 , the Company determined that the carrying amount of its Australian reporting unit exceeded its estimated fair value. The resulting impairment charge of $6.4 million , including a foreign currency translation gain of $0.6 million , was recorded within the International Marketing and Distribution reporting segment in the fiscal year ended August 31, 2013 . The weakened Australian economy and in particular the demand for construction steel, coupled with continued operating performance below planned levels during fiscal 2013 and a weak forecast of future operating results were the contributing factors that lead to the impairment charges recorded in fiscal 2013 . The following intangible assets subject to amortization are included in other noncurrent assets on the Company's consolidated balance sheets: August 31, 2015 August 31, 2014 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer base $ 35,369 $ 28,814 $ 6,555 $ 38,078 $ 25,989 $ 12,089 Favorable land leases 10,091 2,101 7,990 11,661 2,075 9,586 Non-competition agreements 1,629 217 1,412 779 40 739 Brand name 648 306 342 3,216 1,452 1,764 Other 101 52 49 101 45 56 Total $ 47,838 $ 31,490 $ 16,348 $ 53,835 $ 29,601 $ 24,234 Excluding goodwill, there are no other significant intangible assets with indefinite lives. Amortization expense for intangible assets for the years ended August 31, 2015 , 2014 and 2013 was $6.9 million , $5.1 million , and $4.9 million , respectively. At August 31, 2015 , the weighted average remaining useful life of these intangible assets, excluding the favorable land leases was eight years . The weighted average life of the favorable land leases was 50 years . Estimated amounts of amortization expense for the next five years are as follows: Year Ended August 31, (in thousands) 2016 $ 4,136 2017 550 2018 1,043 2019 1,072 2020 862

LONG-LIVED ASSET IMPAIRMENT AND

LONG-LIVED ASSET IMPAIRMENT AND FACILITY CLOSURE COSTS	12 Months Ended
	Aug. 31, 2015
Restructuring and Related Activities [Abstract]
LONG-LIVED ASSET IMPAIRMENT AND FACILITY CLOSURE COSTS	NOTE 8. LONG-LIVED ASSET IMPAIRMENT AND FACILITY CLOSURE COSTS In the fourth quarter of fiscal 2015, the Company decided to exit its steel distribution business in Cardiff, Wales, United Kingdom. The operation is included in the Company's International Marketing and Distribution reporting segment. The expenses associated with exiting this business were not material for fiscal 2015 and were included in selling, general and administrative expenses in the Company's consolidated statements of earnings. Despite focused efforts and substantial progress to stabilize and improve the results of the Australian distribution business, the Company determined that achieving acceptable financial returns would take additional time and investment. During the first quarter of fiscal 2015 , the Company decided to exit and sell its steel distribution business in Australia and determined that the decision to exit this business met the definition of a discontinued operation. As a result, this business has been presented as a discontinued operation for all periods presented. The exit costs associated with the decision to exit and sell this business were not material for fiscal 2015 . The Australian steel distribution business was previously an operating segment included in the International Marketing and Distribution reporting segment. In the fourth quarter of fiscal 2014 , the Company made the decision to exit its steel trading business headquartered in Zug, Switzerland. In connection with this decision, severance and other exit costs incurred by the Company were not material and were included in selling, general and administrative expenses in the Company's consolidated statements of earnings. The operation is included in the Company's International Marketing and Distribution reporting segment. Facility closure costs were not material in fiscal 2013. During the fourth quarter of fiscal 2013, the Company prepared an impairment analysis on its Australian operating units and determined the carrying values of certain fixed assets exceeded their fair values as determined utilizing market and cost approaches. Determining the fair value is judgmental in nature and requires the use of significant estimates and assumptions, considered to be level 3 fair value inputs. The resulting non-recurring impairment charges of $6.3 million, primarily related to the write-down of long-lived assets, were recorded within the International Marketing and Distribution reporting segment at August 31, 2013 Long-lived asset impairment charges from continuing operations were not material in fiscal 2015 and 2014 and were $4.6 million in fiscal 2013.

SEVERANCE

SEVERANCE	12 Months Ended
	Aug. 31, 2015
Restructuring and Related Activities [Abstract]
SEVERANCE	NOTE 9. SEVERANCE The Company recorded consolidated severance cost of $5.8 million , $3.7 million and $6.1 million for the years ended August 31, 2015 , 2014 and 2013 , respectively. The severance cost recorded during fiscal 2015 , 2014 and 2013 was not individually material to any of the Company's segments. As of August 31, 2015 and 2014 , the remaining liability to be paid in the future related to termination benefits was $1.2 million and $0.9 million , respectively.

BUSINESSES HELD FOR SALE, DISCO

BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS	12 Months Ended
	Aug. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS	NOTE 10. BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS Businesses Held for Sale The Company did not have any businesses classified as held for sale at August 31, 2014. The components of assets and liabilities of businesses held for sale on the Company's consolidated balance sheet were as follows: (in thousands) August 31, 2015 Assets: Accounts receivable $ 3,244 Inventories, net 12,514 Other current assets 41 Property, plant and equipment, net of accumulated depreciation and amortization 1,209 Assets of businesses held for sale $ 17,008 Liabilities: Accounts payable-trade $ 3,011 Accrued expenses and other payables 2,265 Liabilities of businesses held for sale $ 5,276 Discontinued Operations Despite focused efforts and substantial progress to stabilize and improve the results of the Australian distribution business, the Company determined that achieving acceptable financial returns would take additional time and investment. During the first quarter of fiscal 2015, the Company decided to exit and sell its steel distribution business in Australia and determined that the decision to exit this business met the definition of a discontinued operation. As a result, this business has been presented as a discontinued operation for all periods presented. The Australian steel distribution business was previously an operating segment included in the International Marketing and Distribution reporting segment. During the fourth quarter of fiscal 2013, the Company decided to sell all of the capital stock of its wholly owned copper tube manufacturing operation, Howell Metal Company ("Howell"). The Company determined that the decision to sell this business met the definition of a discontinued operation. As a result, the Company included Howell in discontinued operations for all periods presented. Howell was previously an operating segment included in the Americas Mills reporting segment. Financial information for discontinued operations was as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Net sales $ 173,065 $ 266,819 $ 446,285 Earnings (loss) before income taxes (20,124 ) 15,005 (26,094 ) Dispositions On July 31, 2015, the Company completed the sale of six locations that were a part of the Australian steel distribution business for proceeds of $26.4 million , subject to customary purchase price adjustments. The Company recognized an $8.1 million pre-tax gain on the sale, which included a currency translation gain of $10.1 million . In addition, during the second and third quarters of fiscal 2015 , the Company recognized a combined $3.0 million in impairment losses on the asset group held for sale. During the fourth quarter of fiscal 2015 , all operations ceased at three other locations that were part of the Australian steel distribution business. As of August 31, 2015 , one location of the Australian steel distribution business remained for sale and continued to be classified as held for sale. For the year ended August 31, 2015 , the results of the sale and the activity related to the Australian steel distribution business were included in discontinued operations in the consolidated statement of earnings. During the first quarter of fiscal 2014, the Company completed the sale all of the outstanding capital stock of Howell for $58.5 million , of which $3.2 million was held in escrow as of both August 31, 2015 and 2014. During the second quarter of fiscal 2014, the Company made a $3.0 million working capital adjustment, which is included in the Company's estimated pre-tax gain of $23.8 million . The result of this sale was included in discontinued operations in the consolidated statement of earnings for the year ended August 31, 2014 . The Company disposed of the remaining assets held for sale of $1.1 million during the fourth quarter of fiscal 2014 with an immaterial impact to the consolidated statement of earnings. During the first quarter of fiscal 2013 , the Company completed the sale of its 11% ownership interest in Trinecke Zelezarny, a.s. ("Trinecke"), a Czech Republic joint-stock company, for $29.0 million resulting in a pre-tax gain of $26.1 million . The result of this sale was included in continuing operations in the consolidated statement of earnings for the year ended August 31, 2013. The Trinecke investment was included in the International Marketing and Distribution reporting segment.

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	12 Months Ended
	Aug. 31, 2015
Debt Disclosure [Abstract]
CREDIT ARRANGEMENTS	NOTE 11. CREDIT ARRANGEMENTS On June 26, 2014 , the Company entered into a fourth amended and restated credit agreement (the "Credit Agreement") with a revolving credit facility of $350.0 million and a maturity date of June 26, 2019 , replacing the third amended and restated $300.0 million revolving credit facility with a maturity date of December 27, 2016 . The maximum availability under the Credit Agreement can be increased to $500.0 million with bank approval. The Company's obligation under its Credit Agreement is secured by its inventory. Consistent with the Company's previous revolving credit facility, the Credit Agreement's capacity includes $50.0 million for the issuance of stand-by letters of credit and was reduced by outstanding stand-by letters of credit which totaled $23.4 million and $28.1 million at August 31, 2015 and 2014 , respectively. Under the Credit Agreement, the Company is required to comply with certain financial and non-financial covenants, including covenants to maintain: (i) an interest coverage ratio (consolidated EBITDA to consolidated interest expense, as each is defined in the Credit Agreement) of not less than 2.50 to 1.00 and (ii) a debt to capitalization ratio (consolidated funded debt to total capitalization, as each is defined in the Credit Agreement) that does not exceed 0.60 to 1.00 . In addition, beginning on the date three months prior to each maturity date of the Company's 2017 Notes and 2018 Notes and each day thereafter that the 2017 Notes and the 2018 Notes are outstanding, the Company will be required to maintain liquidity of at least $150 million in excess of each of the outstanding aggregate principal amounts of the 2017 Notes and 2018 Notes. Loans under the Credit Agreement bear interest based on the Eurocurrency rate, a base rate, or the LIBOR rate. At August 31, 2015 , the Company's interest coverage ratio was 5.76 to 1.00 and the Company's debt to capitalization ratio was 0.49 to 1.00 . The Company had no amounts drawn under its revolving credit facilities at August 31, 2015 and 2014 . In May 2013 , the Company issued $330.0 million of 4.875% Senior Notes due in May 2023 (the "2023 Notes") and received proceeds of $325.0 million , net of underwriting discounts and debt issuance costs. The Company used $205.3 million of the proceeds from the 2023 Notes to purchase all of its outstanding $200.0 million of 5.625% Notes due 2013 (the "2013 Notes"). Interest on these notes is payable semi-annually. The Company is generally not limited under the indenture governing the 2023 Notes in its ability to incur additional indebtedness provided the Company is in compliance with certain restrictive covenants, including restrictions on liens, sale and leaseback transactions, mergers, consolidations and transfers of substantially all of the Company's assets. As a result of redeeming the 2013 Notes, the Company recognized expenses of $4.8 million related to loss on early extinguishment of debt and write-off of unamortized debt issuance costs, discounts and premiums, all of which were included in selling, general and administrative expenses in the consolidated statements of earnings for the year ended August 31, 2013 . In August 2008 , the Company issued $500.0 million of 7.35% senior unsecured notes due in August 2018 (the "2018 Notes"). In anticipation of the offering, the Company entered into hedge transactions which reduced the Company's effective interest rate on these notes to 6.40% per annum. Interest on these notes is payable semiannually. In July 2007 , the Company issued $400.0 million of 6.50% senior unsecured notes due in July 2017 (the "2017 Notes"). In anticipation of the offering, the Company entered into hedge transactions which reduced the Company's effective interest rate on these notes to 5.74% per annum. Interest on these notes is payable semiannually. During fiscal 2012, the Company terminated its existing interest rate swap transactions and received cash proceeds of approximately $52.7 million , net of customary finance charges. The resulting gain was deferred and is being amortized as a reduction to interest expense over the remaining term of the respective debt tranches. At August 31, 2015 and 2014 , the unamortized portion was $19.2 million and $26.8 million , respectively. Amortization of the deferred gain was $7.6 million for each of the years ended August 31, 2015 and 2014 . Amortization of the deferred gain was $12.5 million for the year ended August 31, 2013 . The Company has uncommitted credit facilities available from U.S. and international banks. In general, these credit facilities are used to support trade letters of credit (including accounts payable settled under bankers' acceptances as described in Note 2, Summary of Significant Accounting Policies), foreign exchange transactions and short-term advances which are priced at market rates. Long-term debt, including the deferred gain from the termination of the interest rate swaps, was as follows: Weighted Average August 31, (in thousands) 2015 2014 $400 million notes at 6.50% due July 2017 5.74% $ 405,573 $ 408,546 $500 million notes at 7.35% due August 2018 6.40% 513,680 518,305 $330 million notes at 4.875% due May 2023 4.875% 330,000 330,000 Other, including equipment notes 38,739 32,196 1,287,992 1,289,047 Less current maturities 10,110 8,005 $ 1,277,882 $ 1,281,042 Interest on these notes is payable semiannually. CMC Poland Sp.z.o.o. ("CMCP") has uncommitted credit facilities of $56.9 million with several banks with expiration dates ranging from November 2015 to March 2016 . During fiscal 2015 , CMCP had total borrowings of $49.6 million and total repayments of $49.6 million under these credit facilities. During fiscal 2014 , CMCP had total borrowings of $111.7 million and total repayments of $111.7 million under these credit facilities. At August 31, 2015 and 2014 , there were no material amounts outstanding under these credit facilities. The scheduled maturities of the Company's long-term debt are as follows: Year Ending August 31, (in thousands) 2016 $ 10,110 2017 409,870 2018 509,269 2019 6,966 2020 2,443 Thereafter 330,080 Total excluding deferred gain of interest rate swaps 1,268,738 Deferred gain of interest rate swaps 19,254 Total long-term debt including current maturities $ 1,287,992 Interest capitalized in the cost of property, plant and equipment constructed in fiscal 2015 and 2014 was not material. Interest of $1.0 million was capitalized in the cost of property, plant and equipment constructed in fiscal 2013 . Cash paid for interest for the years ended August 31, 2015 , 2014 and 2013 was $86.7 million , $85.6 million and $82.5 million , respectively.

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT	12 Months Ended
	Aug. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND RISK MANAGEMENT	NOTE 12. DERIVATIVES AND RISK MANAGEMENT The Company's global operations and product lines expose it to risks from fluctuations in metal commodity prices, foreign currency exchange rates, natural gas prices and interest rates. One objective of the Company's risk management program is to mitigate these risks using derivative instruments. The Company enters into (i) metal commodity futures and forward contracts to mitigate the risk of unanticipated changes in gross margin due to the volatility of the commodities' prices, (ii) foreign currency forward contracts that match the expected settlements for purchases and sales denominated in foreign currencies and (iii) natural gas forward contracts to mitigate the risk of unanticipated changes in operating cost due to the volatility of natural gas prices. When sales commitments to customers include a fixed price freight component, the Company occasionally enters into freight forward contracts to reduce the effects of the volatility of ocean freight rates. At August 31, 2015 , the notional values of the Company's foreign currency contract commitments and its commodity contract commitments were $390.8 million and $37.7 million , respectively. At August 31, 2014 , the notional values of the Company's foreign currency contract commitments and its commodity contract commitments were $406.6 million and $59.6 million , respectively. The Company designates only those contracts which closely match the terms of the underlying transaction as hedges for accounting purposes. These hedges resulted in substantially no ineffectiveness in the Company's consolidated statements of earnings, and there were no components excluded from the assessment of hedge effectiveness for the years ended August 31, 2015 and 2014 . Certain foreign currency and commodity contracts were not designated as hedges for accounting purposes, although management believes they are essential economic hedges. The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the consolidated statements of earnings: Year Ended August 31, Derivatives Not Designated as Hedging Instruments (in thousands) Location 2015 2014 2013 Commodity Cost of goods sold $ 7,746 $ 2,504 $ 2,456 Foreign exchange Net sales 3,016 473 — Foreign exchange Cost of goods sold 4,996 (1,078 ) — Foreign exchange SG&A expenses 23,105 (4,135 ) 5,089 Other Cost of goods sold — — 9 Gain (loss) before income taxes $ 38,863 $ (2,236 ) $ 7,554 The Company's fair value hedges are designated for accounting purposes with the gains or losses on the hedged items offsetting the gains or losses on the related derivative transactions. Hedged items relate to firm commitments on commercial sales and purchases and capital expenditures. Derivatives Designated as Fair Value Year Ended August 31, Location 2015 2014 2013 Foreign exchange Net sales $ (105 ) $ 93 $ (151 ) Foreign exchange Cost of goods sold 881 (1,465 ) 2,241 Gain (loss) before income taxes $ 776 $ (1,372 ) $ 2,090 Hedged Items Designated as Fair Value Year Ended August 31, Location 2015 2014 2013 Foreign exchange Net sales $ 105 $ (91 ) $ 153 Foreign exchange Cost of goods sold (881 ) 1,469 (2,241 ) Gain (loss) before income taxes $ (776 ) $ 1,378 $ (2,088 ) Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) (in thousands) August 31, 2015 2014 2013 Commodity $ (635 ) $ (54 ) $ (218 ) Foreign exchange (1,832 ) (1,794 ) 439 Gain (loss), net of income taxes $ (2,467 ) $ (1,848 ) $ 221 Effective Portion of Derivatives Designated as Cash Flow Year Ended August 31 , Location 2015 2014 2013 Commodity Cost of goods sold $ (665 ) $ (160 ) $ (260 ) Foreign exchange Net sales 124 (213 ) 73 Foreign exchange Cost of goods sold (2,774 ) (1,717 ) 18 Foreign exchange SG&A expenses 76 53 17 Interest rate Interest expense 532 532 617 Gain (loss) before income taxes (2,707 ) (1,505 ) 465 Income tax (expense) benefit Income taxes 949 237 (128 ) Gain (loss), net of income taxes $ (1,758 ) $ (1,268 ) $ 337 The Company enters into derivative agreements that include provisions to allow the set-off of certain amounts. Derivative instruments are presented on a gross basis on the Company's consolidated balance sheets. The asset and liability balances in the tables below reflect the gross amounts of derivative instruments at August 31, 2015 and 2014 . The fair value of the Company's derivative instruments on the consolidated balance sheets was as follows: Derivative Assets (in thousands) August 31, 2015 2014 Commodity — designated for hedge accounting $ 19 $ 42 Commodity — not designated for hedge accounting 846 869 Foreign exchange — designated for hedge accounting 1,500 136 Foreign exchange — not designated for hedge accounting 3,088 1,853 Derivative assets (other current assets)* $ 5,453 $ 2,900 Derivative Liabilities (in thousands) August 31, 2015 2014 Commodity — designated for hedge accounting $ 129 $ 6 Commodity — not designated for hedge accounting 537 162 Foreign exchange — designated for hedge accounting 874 325 Foreign exchange — not designated for hedge accounting 1,263 1,010 Derivative liabilities (accrued expenses and other payables)* $ 2,803 $ 1,503 _________________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges. As of August 31, 2015 and 2014 , all of the Company's derivative instruments designated to hedge exposure to the variability in future cash flows of the forecasted transactions will mature within twelve months. All of the instruments are highly liquid and were not entered into for trading purposes.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Aug. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE	NOTE 13. FAIR VALUE The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Levels within the hierarchy are defined as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets and liabilities; Level 2 - Quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable, either directly or indirectly; and Level 3 - Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following tables summarize information regarding the Company's financial assets and financial liabilities that were measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2015 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 271,840 $ 271,840 $ — $ — Commodity derivative assets (2) 865 846 19 — Foreign exchange derivative assets (2) 4,588 — 4,588 — Liabilities: Commodity derivative liabilities (2) 666 537 129 — Foreign exchange derivative liabilities (2) 2,137 — 2,137 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2014 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 200,487 $ 200,487 $ — $ — Commodity derivative assets (2) 911 911 — — Foreign exchange derivative assets (2) 1,989 — 1,989 — Liabilities: Commodity derivative liabilities (2) 168 162 6 — Foreign exchange derivative liabilities (2) 1,335 — 1,335 — _________________ (1) Money market investments are short-term in nature, and the value is determined by broker quoted prices in active markets. The investment portfolio mix can change each period based on the Company's assessment of investment options. (2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or the New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Further discussion regarding the Company's use of derivative instruments and the classification of the assets and liabilities is included in Note 12, Derivatives and Risk Management. There were no material non-recurring fair value remeasurements during fiscal years ended August 31, 2015 and 2014 . The carrying values of the Company's short-term items, including the deferred purchase price of accounts receivable, documentary letters of credit and notes payable, approximate fair value due to their short term nature. The carrying values and estimated fair values of the Company's financial assets and liabilities that are not required to be measured at fair value on the consolidated balance sheets are as follows: August 31, 2015 August 31, 2014 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value $400 million notes at 6.50% due July 2017 (1) Level 2 $ 405,573 $ 419,400 $ 408,546 $ 438,200 $500 million notes at 7.35% due August 2018 (1) Level 2 513,680 530,000 518,305 567,560 $330 million notes at 4.875% due May 2023 (1) Level 2 330,000 300,630 330,000 325,050 _________________ (1) The fair value of the notes is determined based on indicated market values.

INCOME TAX

INCOME TAX	12 Months Ended
	Aug. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 14. INCOME TAX The components of earnings from continuing operations before income taxes are as follows: Year Ended August 31, (in thousands) 2015 2014 2013 United States $ 217,008 $ 108,882 $ 147,204 Foreign 27,520 42,933 15,498 Total $ 244,528 $ 151,815 $ 162,702 The income taxes (benefit) included in the consolidated statements of earnings are as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Current: United States $ 53,258 $ 11,798 $ 849 Foreign 3,329 2,965 1,970 State and local 2,830 4,157 1,815 Current taxes $ 59,417 $ 18,920 $ 4,634 Deferred: United States $ 19,269 $ 30,427 $ 45,908 Foreign 722 4,457 4,980 State and local 3,362 (2,536 ) 3,767 Deferred taxes $ 23,353 $ 32,348 $ 54,655 Total income taxes on income $ 82,770 $ 51,268 $ 59,289 Income taxes (benefit) on discontinued operations (436 ) 8,544 1,310 Income taxes on continuing operations $ 83,206 $ 42,724 $ 57,979 A reconciliation of the federal statutory rate to the Company's effective income tax rate from continuing operations is as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Income tax expense at statutory rate of 35% $ 85,585 $ 53,135 $ 56,946 State and local taxes 4,020 88 3,460 Section 199 manufacturing deduction (4,017 ) (1,199 ) — Foreign rate differential (2,404 ) (6,290 ) (4,783 ) Change in valuation allowance 12,305 19,978 5,334 Deferred compensation 772 (4,164 ) (2,890 ) Nontaxable foreign interest (16,712 ) (16,506 ) (5,445 ) Disposition of foreign subsidiaries — — 6,292 Australian reorganization — — (7,245 ) Other 3,657 (2,318 ) 6,310 Income tax expense on continuing operations $ 83,206 $ 42,724 $ 57,979 Effective income tax rates from continuing operations 34.0 % 28.1 % 35.6 % The Company's effective income tax rates from discontinued operations for the years ended August 31, 2015 , 2014 and 2013 were (2.2)% , 56.9% and (5.0)% , respectively. The Company's effective income tax rate from continuing operations was 34.0% for the year ended August 31, 2015 , compared to the statutory rate of 35% . Several factors influence the effective tax rate. Items that benefited the effective tax rate include: 1) income from operations in jurisdictions with lower statutory tax rates than the United States, including Poland, and 2) benefit for domestic production activity income pursuant to Section 199 of the Internal Revenue Code. Items that had a negative impact on the effective tax rate include: 1) United States state and local taxes imposed on income from domestic operations, 2) losses from operations in certain jurisdictions where the Company maintains a valuation allowance, thus providing no benefit for such losses, and 3) a non-deductible loss on assets segregated to fund the nonqualified benefit restoration plan (“BRP”). For the year ended August 31, 2014 , the effective income tax rate from continuing operations was 28.1% . It was lower than the statutory income tax rate of 35% because the Company earned a higher portion of its global income from operations in countries which have lower income tax rates than the United States, notably Poland, which has a statutory income tax rate of 19% . Additionally, the Company realized a benefit under Section 199 for domestic production activity, and had a non-taxable net holding gain on BRP assets. For the year ended August 31, 2013 , the effective income tax rate from continuing operations was 35.6% ; which was higher than the U.S. statutory income tax rate of 35% . The income tax rate was primarily driven by an increase in the Company's valuation allowances on deferred tax assets in jurisdictions that more likely than not will not be realized. The increase in the valuation allowances was primarily related to unfavorable results reported by the Company's Australian operations during fiscal 2013 that led these operations to a three year cumulative loss position. As a result, the Company determined that is was more likely than not that the deferred tax assets associated with the Australian operations would not be realized. The Company made net payments of $61.0 million and $11.8 million for income taxes for the years ended August 31, 2015 and 2014 , respectively. The Company received net refunds of $7.6 million for income taxes for the year ended August 31, 2013 . The income tax effects of significant temporary differences giving rise to deferred tax assets and liabilities are as follows: August 31, (in thousands) 2015 2014 Deferred tax assets: Deferred compensation and employee benefits $ 48,309 $ 51,956 Net operating losses and credits 78,838 68,736 Reserves and other accrued expenses 21,380 45,246 Allowance for doubtful accounts 3,334 3,760 Intangibles 8,086 6,707 Other 9,562 8,766 Total deferred tax assets 169,509 185,171 Valuation allowance for deferred tax assets (79,965 ) (69,762 ) Deferred tax assets, net $ 89,544 $ 115,409 Deferred tax liabilities: Fixed assets $ 102,144 $ 99,016 Inventory 3,774 8,320 Other 3,981 4,066 Total deferred tax liabilities $ 109,899 $ 111,402 Deferred tax assets, net of deferred tax liabilities $ (20,355 ) $ 4,007 Net operating losses giving rise to deferred tax assets consist of $304.5 million of state net operating losses that expire during the tax years ending from 2016 to 2035 and foreign net operating losses of $219.5 million that expire during the tax years beginning in 2016. These assets will be reduced as income tax expense is recognized in future periods. The Company maintains a valuation allowance to reduce certain deferred tax assets to amounts that are more likely than not to be realized. During the year ended August 31, 2015 , the Company recorded a valuation allowance of $10.2 million related to net operating loss carryforwards in certain state and foreign jurisdictions due to the uncertainty of their realization. During the year ended August 31, 2014 , the Company recorded a valuation allowance in the amount of $20.9 million related to net operating loss carryforwards in certain state and foreign jurisdictions due to the uncertainty of their realization. In general, it is the practice and intention of the Company to reinvest the earnings of its non-U.S. subsidiaries in those operations. As of August 31, 2015 , the Company has not made a provision for U.S. or additional foreign withholding taxes on approximately $463.2 million of undistributed earnings and profits associated with the excess of the amount for financial reporting over the income tax basis of investments in foreign subsidiaries that is indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred tax liability related to investments in these foreign subsidiaries. The unrecognized income tax benefits as of both August 31, 2015 and 2014 were $27.3 million , of which $12.0 million , if recognized, would have impacted the Company's effective income tax rate at the end of both fiscal 2015 and 2014 . The unrecognized income tax benefits as of August 31, 2013 were $28.6 million , of which $13.3 million , if recognized, would have impacted the Company's effective income tax rate at the end of fiscal 2013 . A reconciliation of the beginning and ending amounts of unrecognized income tax benefits is as follows: August 31, (in thousands) 2015 2014 2013 Balance at September 1 $ 27,349 $ 28,551 $ 27,384 Change in tax positions of current year — — 1,255 Change for tax positions of prior years — (1,202 ) — Reductions due to settlements with taxing authorities — — (88 ) Balance at August 31 $ 27,349 $ 27,349 $ 28,551 The Company's policy classifies interest recognized on an underpayment of income taxes and any statutory penalties recognized on a tax position as income tax expense, and the balances at the end of a reporting period are recorded as part of the current or noncurrent liability for uncertain income tax positions. At August 31, 2015 and 2014 , the Company had accrued interest and penalties related to uncertain tax positions of $4.2 million and $3.4 million , respectively. During the twelve months ending August 31, 2016 , it is reasonably possible that the statute of limitations pertaining to positions of the Company in prior year income tax returns may lapse or that income tax audits in various taxing jurisdictions could be finalized. As a result, the total amount of unrecognized income tax benefits may decrease by approximately $17.8 million , which would reduce the provision for income taxes on earnings by $2.5 million . The Company files income tax returns in the United States and multiple foreign jurisdictions with varying statutes of limitations. In the normal course of business, the Company and its subsidiaries are subject to examination by various taxing authorities. The following is a summary of tax years subject to examination: U.S. Federal — 2009 and forward U.S. States — 2009 and forward Foreign — 2008 and forward The Company is under examination by the Internal Revenue Service and state revenue authorities from 2009 to 2011. Management believes the Company's recorded income tax liabilities as of August 31, 2015 sufficiently reflect the anticipated outcome of these examinations.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Aug. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION PLANS	NOTE 15. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans provide for the issuance of incentive and non-qualified stock options, restricted stock and units, stock appreciation rights and performance-based awards. The Compensation Committee of CMC's Board of Directors (the "Compensation Committee") approves all awards that are granted under the Company's stock-based compensation plans. Stock-based compensation expense for the years ended August 31, 2015 , 2014 and 2013 of $23.5 million , $18.1 million and $18.7 million , respectively, is mainly included in selling, general and administrative expenses on the Company's consolidated statements of earnings. As of August 31, 2015 , total unrecognized compensation cost related to unvested stock-based compensation arrangements was $21.9 million , which is expected to be recognized over a weighted-average period of three years, except for certain restricted stock units granted during fiscal 2014, which will vest over a weighted-average period of four years. The following table summarizes the total awards granted: Stock Restricted Stock Performance 2015 Grants — 987,574 462,496 2014 Grants — 1,191,544 450,233 2013 Grants 244,403 1,149,696 640,002 As of August 31, 2015 , CMC had 12,744,798 shares available for future grants. Restricted Stock Units Restricted stock units issued under the Company's stock-based compensation plans provide that shares awarded may not be sold, transferred, pledged or assigned until service-based restrictions have lapsed. The restricted stock units granted to U.S. employees generally vest and are converted to CMC common stock in three equal installments on each of the first three anniversaries of the date of grant. The restricted stock units granted to non-U.S. employees generally vest and are settled in cash in three equal installments on each of the first three anniversaries of the date of grant. Generally, upon termination of employment, restricted stock awards that have not vested are forfeited. Upon death, disability or qualifying retirement, a pro-rata portion of the unvested restricted stock awarded will vest and become payable. Certain restricted stock units granted during fiscal 2014 will vest and either convert to CMC common stock or settle in cash after a specified service period; 25% vest two years from the date of grant; 25% vest three years from the date of grant; and the remaining 50% vest four years from the date of grant. The estimated fair value of the stock-settled restricted stock units is based on the closing price of CMC common stock on the date of grant, discounted for the expected dividend yield through the vesting period. Compensation cost related to the stock-settled restricted stock units is recognized ratably over the service period and is included in equity on the Company's consolidated balance sheets. The fair value of the cash-settled restricted stock units is remeasured each reporting period and is recognized ratably over the service period. The liability related to the cash-settled restricted stock units is included in accrued expenses and other payables on the Company's consolidated balance sheets. Performance Stock Units Performance stock units issued under the Company's stock-based compensation plans provide that shares awarded may not be sold, transferred, pledged or assigned until service-based restrictions have lapsed and any performance objectives have been attained as established by the Compensation Committee. Recipients of these awards generally must be actively employed by and providing services to the Company on the last day of the performance period in order to receive an award payout. Upon death, disability or qualifying retirement, a pro-rata portion of the performance stock units will vest and become payable at the end of the performance period. Compensation cost for performance stock units is accrued based on the probable outcome of specified performance conditions, net of estimated forfeitures. The Company accrues compensation cost if it is probable that the performance conditions will be met. The Company reassesses the probability of meeting the specified performance conditions at the end of each reporting period and adjusts compensation cost, as necessary, based on the probability of achieving the performance conditions. If the performance conditions are not met at the end of the performance period, the Company reverses the related compensation cost. Performance targets established by the Compensation Committee for performance stock units awarded in fiscal years 2015 , 2014 and 2013 are weighted 75% based on the Company's cumulative EBITDA targets and positive return on invested capital ("ROIC") for the fiscal year in which the awards were granted and the succeeding two fiscal years, as approved by CMC's Board of Directors in the respective year's business plan, and 25% based on a three year relative total stockholder return metric. Performance stock units awarded to U.S. participants will be settled in CMC common stock. Award payouts range from a threshold of 50% to a maximum of 200% for each portion of the target awards. The performance stock units awarded in fiscal years 2015 and 2014 associated with the cumulative EBITDA targets have been classified as liability awards since the final EBITDA target will not be set until the third year of the performance period. Consequently, these awards are included in accrued expenses and other payables on the Company's consolidated balance sheets. The fair value of these performance stock units is remeasured each reporting period and is recognized ratably over the service period. The performance stock units awarded in fiscal 2013 , as well as the performance stock units associated with the total stockholder return metric were valued at fair value on the date of grant using the Monte Carlo pricing model and are included in equity on the Company's consolidated balance sheets. Performance stock units awarded to non-U.S. participants in fiscal 2015 , 2014 and 2013 will be settled in cash. The fair value of the performance stock units is remeasured each reporting period and is recognized ratably over the service period. The liability related to these awards is included in accrued expenses and other payables on the Company's consolidated balance sheets. In fiscal 2014, the Company reassessed the probability of achieving the specified performance conditions related to performance stock units awarded in fiscal 2012 and determined the Company did not meet the EBITDA and return on net assets ("RONA") targets at the end of the service period. As a result, the compensation cost previously recognized for these performance stock units was reversed in fiscal 2014. In fiscal 2013, the Company reassessed the probability of achieving the specified performance conditions related to performance stock units awarded in fiscal 2011 and determined the Company did not meet the EBITDA and RONA targets at the end of the service period. In addition, the Compensation Committee determined that the Company did not meet the total stockholder return vesting criteria at the end of the performance period for performance stock units awarded in fiscal 2010. As a result, the compensation cost previously recognized for these performance stock units was reversed in fiscal 2013. Information for restricted stock units and performance stock units, excluding the cash component, is as follows: Number Weighted Average Outstanding as of September 1, 2012 1,683,572 $ 13.16 Granted 1,159,451 13.60 Vested (537,303 ) 13.35 Forfeited (398,302 ) 12.22 Outstanding as of August 31, 2013 1,907,418 13.57 Granted 1,275,355 16.89 Vested (737,870 ) 13.55 Forfeited (364,323 ) 14.94 Outstanding as of August 31, 2014 2,080,580 15.37 Granted 1,468,696 15.79 Vested (712,279 ) 14.33 Forfeited (103,663 ) 15.51 Outstanding as of August 31, 2015 2,733,334 $ 15.86 The total fair value of shares vested during fiscal years 2015 , 2014 and 2013 was $10.2 million , $10.0 million and $7.2 million , respectively. The Company granted 392,517 and 390,562 equivalent shares of restricted stock units and performance stock units accounted for as liability awards during the years ended August 31, 2015 and 2014 , respectively. As of August 31, 2015 , the Company had 898,259 equivalent shares of awards outstanding and expects 853,345 equivalent shares to vest. Stock Appreciation Rights and Stock Options Stock appreciation rights and stock options are awarded to certain employees with an exercise price equal to the market value of CMC common stock on the date of grant. No stock appreciation rights or stock options were granted during the years ended August 31, 2015 and 2014 . Stock appreciation rights and stock options issued during the year ended August 31, 2013 are exercisable ratably over the three year vesting period and have a contractual term of seven years. The estimated fair value of stock appreciation rights and stock options granted under the Company's plans during the year ended August 31, 2013 of $0.6 million was estimated on the date of grant using the Black-Scholes Option Pricing Model with the following assumptions: 2013 Risk-free interest rate 0.41 % Expected life, years 3.0 Expected volatility 43 % Expected dividend yield 3.40 % Weighted average grant-date fair value per share $ 3.38 Combined activity for the Company's stock appreciation rights and stock options, excluding the cash component, is as follows: Number Weighted Weighted Aggregate Intrinsic Value Outstanding as of September 1, 2012 2,930,492 $ 24.81 Granted 185,004 14.25 Exercised (4,105 ) 11.60 Forfeited/Expired (457,961 ) 24.91 Outstanding as of August 31, 2013 2,653,430 $ 24.07 2.8 $ 2,867,175 Exercised (223,473 ) 11.84 Forfeited/Expired (992,926 ) 32.93 Outstanding as of August 31, 2014 1,437,031 $ 19.85 2.7 $ 4,384,668 Exercised (142,604 ) 11.80 Forfeited/Expired (452,210 ) 35.10 Outstanding as of August 31, 2015 842,217 $ 13.04 2.7 $ 2,243,765 Exercisable at August 31, 2015 789,498 $ 12.95 2.6 $ 2,168,298 Remaining unvested stock appreciation rights and stock options expected to vest 50,083 $ 14.27 The total intrinsic value of stock appreciation rights and stock options exercised during fiscal 2014 was $1.7 million . The aggregate intrinsic value of stock appreciation rights and stock options exercised during fiscal 2015 and 2013 was not material. Information related to stock appreciation rights and stock options as of August 31, 2015 is summarized below: Stock Appreciation Rights and Stock Options Outstanding Stock Appreciation Rights and Stock Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (In Years) Weighted Number Exercisable Weighted Average Remaining Contractual Life (In Years) Weighted $11.00 - 14.68 720,511 2.7 $ 12.40 671,027 2.6 $ 12.27 $16.54 - 16.83 121,706 2.5 $ 16.81 118,471 2.5 $ 16.81 842,217 2.7 $ 13.04 789,498 2.6 $ 12.95 No cash-settled stock appreciation rights were granted during the years ended August 31, 2015 and 2014 . As of August 31, 2015 , the Company had 72,439 equivalent shares of cash-settled stock appreciation rights outstanding and expects 68,817 equivalent shares of cash-settled stock appreciation rights to vest. During the year ended August 31, 2013, the Company awarded 59,399 equivalent shares of stock appreciation rights to non-U.S. employees, which are settled in cash. The fair value of these stock appreciation rights is remeasured each reporting period and is recognized ratably over the service period. The liability related to these awards is included in accrued expenses and other payables on the Company's consolidated balance sheets. Stock Purchase Plan Almost all U.S. resident employees with one year of service at the beginning of each calendar year may participate in the Company's employee stock purchase plan. Each eligible employee may purchase up to 400 shares annually. The Board of Directors established the purchase discount of 15% based on market prices on specified dates for the years ended August 31, 2015 , 2014 and 2013 . Yearly activity of the stock purchase plan is as follows: 2015 2014 2013 Shares subscribed 198,710 228,780 281,460 Price per share $ 13.73 $ 16.97 $ 12.61 Shares purchased 172,170 221,570 211,580 Price per share $ 16.96 $ 12.61 $ 11.85 Shares available for future issuance 3,810,924

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Aug. 31, 2015
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	NOTE 16. CAPITAL STOCK Treasury Stock On October 27, 2014, CMC's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $100.0 million of CMC's outstanding shares of common stock. This new program replaced the existing program, which has been terminated by the Company's Board of Directors in connection with the approval of the new program. The new share repurchase program does not require the Company to acquire any dollar amount or number of shares of CMC's common stock and may be modified, suspended, extended or terminated by the Company at any time without prior notice. CMC did not purchase any shares under the previous share repurchase program during the year ended August 31, 2015 . Under the new share repurchase program, CMC purchased 2,902,218 shares during the year ended August 31, 2015 and had remaining authorization to purchase $ 58.2 million of its common stock at August 31, 2015 . CMC did not purchase any shares during the year ended August 31, 2014 . Preferred Stock Preferred stock has a par value of $1.00 per share, with 2,000,000 shares authorized. It may be issued in series, and the shares of each series have such rights and preferences as may be fixed by CMC's Board of Directors when authorizing the issuance of that particular series. There are no shares of preferred stock outstanding.

EMPLOYEES' RETIREMENT PLANS

EMPLOYEES' RETIREMENT PLANS	12 Months Ended
	Aug. 31, 2015
Compensation and Retirement Disclosure [Abstract]
EMPLOYEES' RETIREMENT PLANS	NOTE 17. EMPLOYEES' RETIREMENT PLANS Substantially all employees in the U.S. are covered by a defined contribution retirement plan. This tax qualified plan is maintained and contributions are made in accordance with the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Company also provides certain eligible executives benefits pursuant to its BRP Plan equal to amounts that would have been available under the tax qualified ERISA plan, but were subject to the limitations of ERISA, tax laws and regulations. Company expenses, a portion of which are discretionary, for these plans were $9.7 million , $19.3 million and $15.9 million for the years ended August 31, 2015 , 2014 and 2013 , respectively, and are included in selling, general and administrative expenses in the Company's consolidated statements of earnings. The deferred compensation liability under the BRP Plan was $72.3 million and $78.0 million at August 31, 2015 and 2014 , respectively, and is included in other long-term liabilities on the Company's consolidated balance sheets. Though under no obligation to fund the plan, the Company has segregated assets in a trust with a current value of $66.6 million and $69.5 million at August 31, 2015 and 2014 , respectively, and such assets are included in other long-term assets on the Company's consolidated balance sheets. The net holding gain (loss) on these segregated assets was not material for the year ended August 31, 2015 and was $13.3 million and $9.9 million for the years ended August 31, 2014 and 2013 , respectively, and is included in net sales in the Company's consolidated statements of earnings. A certain number of employees, primarily outside of the U.S., participate in defined benefit plans that are maintained in accordance with local regulations. The Company's expenses for these plans were $0.7 million , $2.0 million and $3.6 million for the years ended August 31, 2015 , 2014 and 2013 , respectively, and are included in selling, general and administrative expenses in the Company's consolidated statements of earnings. The Company recognizes the unfunded status of the defined benefit plans as a liability with a corresponding reduction to accumulated other comprehensive income, net of income taxes. At August 31, 2015 and 2014 , the Company's liability related to the unfunded status of the defined benefit plans was $1.5 million and $2.4 million , respectively, and is included in other long-term liabilities on the Company's consolidated balance sheets. Because the defined benefit pension plans are not material to the Company's consolidated financial statements, disclosures that would have otherwise been required by U.S. GAAP have been omitted.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Aug. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 18. COMMITMENTS AND CONTINGENCIES Minimum lease commitments payable by the Company for noncancelable operating leases are as follows: Year Ending August 31, (in thousands) 2016 $ 30,390 2017 25,648 2018 18,949 2019 14,785 2020 9,119 Thereafter 19,236 Total $ 118,127 Total rental expense was $52.8 million , $46.8 million and $46.6 million in fiscal years 2015 , 2014 and 2013 , respectively. Legal and Environmental Matters In the ordinary course of conducting its business, the Company becomes involved in litigation, administrative proceedings and governmental investigations, including environmental matters. In the third quarter of fiscal 2015, the Company recorded a $45.5 million benefit as a result of a termination of a contract with a customer and is included in net sales on the Company's consolidated statements of earnings for fiscal 2015. On September 18, 2008, we were served with a purported class action antitrust lawsuit alleging violations of Section 1 of the Sherman Act, brought by Standard Iron Works of Scranton, Pennsylvania, against nine steel manufacturing companies, including CMC. On March 14, 2014, the Company entered into a final settlement agreement with the plaintiffs. As part of that final settlement, in April 2014, the Company paid approximately $4 million to the plaintiffs in consideration for the full and final release of all claims of the plaintiffs. The Company maintains that the claims lacked merit and that it has full and complete defenses to all of the claims asserted against it. However, the Company agreed to enter into the settlement agreement to avoid further expense, inconvenience, and distraction of burdensome and protracted litigation. On October 17, 2014, the court granted final approval of the settlement. The Company has received notices from the U.S. Environmental Protection Agency ("EPA") or state agencies with similar responsibility that it is considered a potentially responsible party ("PRP") at several sites, none owned by the Company, and may be obligated under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 ("CERCLA") or similar state statute to conduct remedial investigations, feasibility studies, remediation and/or removal of alleged releases of hazardous substances or to reimburse the EPA for such activities. The Company is involved in litigation or administrative proceedings with regard to several of these sites in which the Company is contesting, or at the appropriate time may contest, its liability at the sites. In addition, the Company has received information requests with regard to other sites which may be under consideration by the EPA as potential CERCLA sites. Some of these environmental matters or other proceedings may result in fines, penalties or judgments being assessed against the Company. At August 31, 2015 and 2014 , the Company had $1.0 million and $0.7 million , respectively, accrued for cleanup and remediation costs in connection with CERCLA sites. The estimation process is based on currently available information, which is in many cases preliminary and incomplete. Total environmental liabilities, including CERCLA sites, were $4.3 million and $6.2 million as of August 31, 2015 and 2014 , of which $2.4 million and $2.3 million were classified as other long-term liabilities as of August 31, 2015 and 2014 . Due to evolving remediation technology, changing regulations, possible third-party contributions, the inherent shortcomings of the estimation process and other factors, amounts accrued could vary significantly from amounts paid. Historically, the amounts the Company has ultimately paid for such remediation activities have not been material. Management believes that adequate provisions have been made in the Company's consolidated financial statements for the potential impact of these contingencies, and that the outcomes of the suits and proceedings described above, and other miscellaneous litigation and proceedings now pending, will not have a material adverse effect on the business, results of operations or financial condition of the Company.

EARNINGS PER SHARE ATTRIBUTABLE

EARNINGS PER SHARE ATTRIBUTABLE TO CMC	12 Months Ended
	Aug. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE ATTRIBUTABLE TO CMC	NOTE 19. EARNINGS PER SHARE ATTRIBUTABLE TO CMC The calculations of basic and diluted earnings per share from continuing operations were as follows: August 31, 2015 2014 2013 Earnings from continuing operations $ 161,322 $ 109,091 $ 104,723 Basic earnings per share: Shares outstanding for basic earnings per share 116,527,265 117,496,270 116,677,836 Basic earnings per share from continuing operations attributable to CMC $ 1.39 $ 0.93 $ 0.90 Diluted earnings per share: Shares outstanding for basic earnings per share 116,527,265 117,496,270 116,677,836 Effect of dilutive securities: Stock-based incentive/purchase plans 1,422,633 1,110,836 875,116 Shares outstanding for diluted earnings per share 117,949,898 118,607,106 117,552,952 Diluted earnings per share from continuing operations attributable to CMC $ 1.37 $ 0.92 $ 0.89 Anti-dilutive shares not included above 371,273 679,916 1,492,206 _______________________ All stock options and stock appreciation rights expire during fiscal 2020. The Company's restricted stock is included in the number of shares of common stock issued and outstanding, but omitted from the basic earnings per share calculation until the shares vest.

ACCRUED EXPENSES AND OTHER PAYA

ACCRUED EXPENSES AND OTHER PAYABLES	12 Months Ended
	Aug. 31, 2015
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER PAYABLES	NOTE 20. ACCRUED EXPENSES AND OTHER PAYABLES Significant accrued expenses and other payables were as follows: August 31, (in thousands) 2015 2014 Salaries and incentive compensation $ 97,968 $ 115,840 Taxes other than income taxes 41,433 39,998 Advance billings on contracts 30,412 41,645 Insurance 23,123 25,239 Inventory 7,113 17,181

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Aug. 31, 2015
Segment Reporting [Abstract]
BUSINESS SEGMENTS	NOTE 21. BUSINESS SEGMENTS The Company's operating segments engage in business activities from which they may earn revenues and incur expenses and for which discrete financial information is available. Operating results for the operating segments are regularly reviewed by the Company's chief operating decision maker to make decisions about resources to be allocated to the segments and to assess performance. The Company's chief operating decision maker is identified as the Chief Executive Officer. Operating segments are aggregated for reporting purposes when the operating segments are identified as similar in accordance with the basic principles and aggregation criteria in the accounting standards. The Company's reporting segments are based primarily on product lines and secondarily on geographic area. The reporting segments have different lines of management responsibility as each business requires different marketing strategies and management expertise. The Company structures its business into the following five reporting segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill and International Marketing and Distribution. See Note 1, Nature of Operations, for more information about the reporting segments, including the types of products and services from which each reporting segment derives its net sales. Corporate contains expenses of the Company's corporate headquarters and interest expense related to its long-term debt. The financial information presented for the Americas Mills segment excludes Howell. Additionally, the financial information presented for the International Marketing and Distribution segment excludes the operations of the Australian steel distribution business. These operations have been classified as discontinued operations in the consolidated statements of earnings. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions for more information. The Company uses adjusted operating profit, a non-GAAP financial measure, to compare and to evaluate the financial performance of its segments. Adjusted operating profit is the sum of the Company's earnings from continuing operations before income taxes, interest expense and discounts on sales of accounts receivable. Intersegment sales are generally priced at prevailing market prices. Certain corporate administrative expenses are allocated to the segments based upon the nature of the expense. The accounting policies of the segments are the same as those described in Note 2, Summary of Significant Accounting Policies. The following is a summary of certain financial information from continuing operations by reportable segment: Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations 2015 Net sales-unaffiliated customers $ 887,068 $ 1,048,063 $ 1,612,084 $ 626,219 $ 1,814,319 $ 852 $ — $ 5,988,605 Intersegment sales 135,553 793,749 12,154 32 83,298 — (1,024,786 ) — Net sales 1,022,621 1,841,812 1,624,238 626,251 1,897,617 852 (1,024,786 ) 5,988,605 Adjusted operating profit (loss) (18,637 ) 304,272 39,183 17,555 57,885 (77,832 ) 1,409 323,835 Interest expense* 2,628 4,207 8,864 2,620 9,096 50,345 — 77,760 Capital expenditures** 12,811 67,203 14,883 15,413 296 5,194 — 115,800 Depreciation and amortization*** 24,954 46,780 19,094 28,211 2,551 20,752 — 142,342 Total assets**** 251,793 672,322 687,884 403,706 802,007 1,075,642 (552,577 ) 3,340,777 2014 Net sales-unaffiliated customers $ 1,176,907 $ 1,198,249 $ 1,523,573 $ 822,224 $ 2,055,202 $ 14,283 $ — $ 6,790,438 Intersegment sales 190,163 793,085 13,912 969 65,335 — (1,063,464 ) — Net sales 1,367,070 1,991,334 1,537,485 823,193 2,120,537 14,283 (1,063,464 ) 6,790,438 Adjusted operating profit (loss) (3,222 ) 247,703 6,196 30,632 24,027 (72,347 ) (302 ) 232,687 Interest expense* 2,700 7,059 10,222 4,608 6,924 45,524 — 77,037 Capital expenditures** 16,771 31,781 13,798 30,770 1,122 6,907 — 101,149 Depreciation and amortization*** 16,424 45,392 19,192 32,776 2,500 21,243 — 137,527 Total assets**** 296,564 647,437 691,765 466,449 803,263 1,100,995 (469,093 ) 3,537,380 2013 Net sales-unaffiliated customers $ 1,225,604 $ 1,060,337 $ 1,427,785 $ 819,889 $ 2,055,623 $ 11,832 $ — $ 6,601,070 Intersegment sales 166,145 759,183 14,906 6,155 38,554 — (984,943 ) — Net sales 1,391,749 1,819,520 1,442,691 826,044 2,094,177 11,832 (984,943 ) 6,601,070 Adjusted operating profit (loss) 3,170 204,333 28,033 890 63,327 (66,453 ) 848 234,148 Interest expense* 9 (101 ) 83 992 3,200 64,256 — 68,439 Capital expenditures** 21,261 37,216 5,605 15,155 864 7,552 — 87,653 Depreciation and amortization*** 13,453 42,925 22,302 33,238 2,387 21,096 — 135,401 Total assets**** 309,599 598,478 631,510 487,613 724,963 1,075,594 (496,058 ) 3,331,699 ________________________ * Includes intercompany interest expense (income) in the segments and is all eliminated within Corporate. ** Excludes capital expenditures from discontinued operations that were immaterial for the year ended August 31, 2015 , 2014 and 2013 . *** Includes asset impairment charges. **** Excludes total assets from discontinued operations of $31.5 million at August 31, 2015 , $151.1 million at August 31, 2014 and $163.1 million at August 31, 2013 . Reconciliations of earnings from continuing operations to adjusted operating profit are provided below: Year Ended August 31, (in thousands) 2015 2014 2013 Earnings from continuing operations $ 161,322 $ 109,091 $ 104,723 Income taxes 83,206 42,724 57,979 Interest expense 77,760 77,037 68,439 Discounts on sales of accounts receivable 1,547 3,835 3,007 Adjusted operating profit from continuing operations $ 323,835 $ 232,687 $ 234,148 The following represents the Company's external net sales from continuing operations by major product and geographic area: Year Ended August 31, (in thousands) 2015 2014 2013 Major product information: Steel products $ 4,084,092 $ 4,500,093 $ 4,033,286 Industrial materials 566,323 659,251 928,472 Nonferrous scrap 536,856 639,961 682,611 Ferrous scrap 428,192 659,578 646,263 Construction materials 220,232 199,154 189,046 Nonferrous products 10,443 8,761 5,674 Other 142,467 123,640 115,718 Net sales $ 5,988,605 $ 6,790,438 $ 6,601,070 Year Ended August 31, (in thousands) 2015 2014 2013 Geographic area: United States $ 4,199,789 $ 4,510,080 $ 4,107,231 Europe 1,006,204 1,215,150 1,108,196 Asia 578,755 786,512 1,094,458 Australia/New Zealand 121,403 175,756 199,603 Other 82,454 102,940 91,582 Net sales $ 5,988,605 $ 6,790,438 $ 6,601,070 The following table represents long-lived assets by geographic area: August 31, (in thousands) 2015 2014 2013 United States $ 866,421 $ 871,326 $ 868,643 Europe 189,796 243,280 239,899 Asia 7,692 8,814 7,618 Australia/New Zealand 1,292 11,309 12,446 Total long-lived assets $ 1,065,201 $ 1,134,729 $ 1,128,606

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Aug. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	NOTE 22. QUARTERLY FINANCIAL DATA (UNAUDITED) Summarized quarterly financial data for fiscal 2015 and 2014 was as follows: Three Months Ended Fiscal 2015 (in thousands except per share data) Nov. 30 Feb. 28 May 31 Aug. 31 Net sales* $ 1,679,990 $ 1,391,117 $ 1,506,002 $ 1,411,496 Gross profit* 186,221 221,414 235,958 131,809 Net earnings (loss) attributable to CMC 36,253 54,451 56,681 (5,751 ) Basic EPS attributable to CMC 0.31 0.47 0.49 (0.05 ) Diluted EPS attributable to CMC 0.30 0.46 0.49 (0.05 ) Three Months Ended Fiscal 2014 (in thousands except per share data) Nov. 30 Feb. 28 May 31 Aug. 31 Net sales* $ 1,617,075 $ 1,597,461 $ 1,738,593 $ 1,837,309 Gross profit* 176,873 142,356 178,419 183,452 Net earnings attributable to CMC 45,919 11,143 23,563 34,926 Basic EPS attributable to CMC 0.39 0.09 0.20 0.29 Diluted EPS attributable to CMC 0.39 0.09 0.20 0.29 _________________________ * Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions. Effective September 1, 2014, the Company changed its method of determining its interim LIFO inventory reserve from the complete quarterly LIFO valuation method to the expected annual LIFO valuation method. Under the expected annual LIFO valuation method, interim LIFO expense or income is based on management's current estimates of inventory costs and quantities at fiscal year end, and that annual estimate is recorded ratably over the remainder of the fiscal year. The Company updated its estimate at each fiscal quarter end, resulting in pre-tax LIFO income of $6.2 million , $72.5 million and $37.1 million for the three months ended November 30, 2014, February 28, 2015 and May 31, 2015, respectively. The actual full fiscal year LIFO result differed from management's estimates of inventory costs and quantities during the interim periods. Accordingly, the Company recorded pre-tax LIFO expense of $36.5 million for the three months ended August 31, 2015 , resulting in pre-tax LIFO income of $79.3 million for fiscal 2015 .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 23. RELATED PARTY TRANSACTIONS The Company had no significant related party transactions for the years ended August 31, 2015 , 2014 and 2013 .

SCHEDULE II _ VALUATION AND QUA

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	12 Months Ended
	Aug. 31, 2015
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES Additions Deductions Description (in thousands) Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Charged to Costs and Expenses Charged to Other Accounts Balance at End of Period Year Ended August 31, 2015 Allowance for doubtful accounts $ 5,908 4,142 306 (1) (661 ) (662 ) (2) $ 9,033 Deferred tax valuation allowance 69,762 17,746 (7,543 ) 79,965 Year Ended August 31, 2014 Allowance for doubtful accounts $ 10,042 647 842 (1) (1,544 ) (4,079 ) (2) $ 5,908 Deferred tax valuation allowance 48,837 24,964 (4,039 ) 69,762 Year ended August 31, 2013 Allowance for doubtful accounts $ 9,480 4,980 193 (1) (550 ) (4,061 ) (2) $ 10,042 Deferred tax valuation allowance $ 25,779 25,119 (2,061 ) $ 48,837 (1) Recoveries and translation adjustments. (2) Uncollectable accounts charged to the allowance. For the years ended August 31, 2015 , 2014 and 2013 , $(1,695) , $(1,010) and $(1,163) were reclassified to the fair value of the deferred purchase price under our sale of receivables program, respectively.

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned and majority owned subsidiaries and a variable interest entity for which the Company is the primary beneficiary. Intercompany account balances and transactions have been eliminated. Upon inception of an arrangement with a potential variable interest entity, the Company performs an assessment of the contractual agreements that define the ownership structure, risks, responsibilities, indebtedness, voting rights and board representation of the respective parties when determining whether it is the primary beneficiary of the entity. The Company concludes that it is the primary beneficiary and consolidates the variable interest entity if it has both (a) the power to direct the activities that most significantly impact the economic performance of the variable interest entity and (b) the obligation to absorb losses of, or the right to receive benefits from, the variable interest entity that potentially could be significant to the variable interest entity. The Company's assessment of whether it is the primary beneficiary of the variable interest entity is continuously performed. The equity method of accounting is used for investments in affiliates in which the Company has the ability to exert significant influence, but does not have effective control. As of August 31, 2015 , the Company has no investments accounted for under the equity method of accounting. Investments in affiliates which are 20% or less owned are accounted for using the cost method of accounting.
Use of Estimates	Use of Estimates The preparation of the Company's consolidated financial statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of net sales and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of assets received in acquisitions; the carrying value of long-lived assets, including goodwill; valuation allowances for receivables, inventories and deferred income taxes; percentage of completion accounting method for revenue recognition; share-based compensation; potential litigation claims and settlements; and environmental liabilities. Actual results could significantly differ from these estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on deposit and short-term, highly-liquid investments with maturities of three months or less at the date of purchase. Restricted cash held by the Company as of August 31, 2015 was not material. As of August 31, 2014 , the Company had restricted cash of $4.1 million held for operational purposes. Restricted cash balances are included in other current assets on the Company's consolidated balance sheets.
Revenue Recognition	Revenue Recognition The Company recognizes sales when title passes to the customer either when goods are shipped or when they are delivered based upon the terms of the sale, there is persuasive evidence of an arrangement, the price is fixed or determinable and collectability is reasonably assured. When the Company estimates that a firm purchase commitment from a customer will result in a loss, the Company accrues the entire loss as soon as it is probable and estimable. The Company accounts for certain fabrication projects based on the percentage of completion accounting method, based primarily on contract cost incurred to date compared to total estimated contract cost. Changes to total estimated contract cost, or loss, if any, are recognized in the period in which they are determined. Sales recognized in excess of amounts billed of $25.0 million and $24.2 million are classified as current assets and are reflected in accounts receivable on the Company's consolidated balances sheets as of August 31, 2015 and 2014 , respectively. Shipping and other transportation costs billed to customers are included in net sales and the related costs incurred are reflected in cost of goods sold in the Company's consolidated statements of earnings.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts to reflect its estimate of the uncollectability of accounts receivable. These reserves are based on historical trends, current market conditions and customers' financial condition. The Company maintains both corporate and divisional credit departments. Credit limits are set for each customer. Some of the Company's divisions use credit insurance or letters of credit to ensure prompt payment in accordance with the terms of sale. Generally, collateral is not required. Approximately 35% and 49% of total receivables at August 31, 2015 and 2014 , respectively, were secured by credit insurance or letters of credit.
Inventories, net	Inventories, net Inventories are stated at the lower of cost or market. Inventory cost for most U.S. inventories is determined by the last-in, first-out ("LIFO") method. We determine inventory cost for our International Mill segment by the weighted average cost method. The cost for our remaining international and U.S. inventories is determined by the FIFO method. During the first quarter of fiscal 2016 , the Company is considering changing the inventory costing method for all of its LIFO inventories to other inventory costing methods currently used by the Company. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, amortization, utilities, consumable production supplies, maintenance, production, wages and transportation costs. Additionally, the costs of departments that support production, including materials management and quality control, are allocated to inventory.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance is expensed as incurred. Leasehold improvements are amortized over the shorter of their estimated useful lives or the lease term. Depreciation and amortization is recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years The Company evaluates impairment of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment charges are recorded on property, plant and equipment when the carrying value of the operations related to the asset, or group of assets, exceeds the undiscounted cash flows estimated to be generated by those operations.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill is tested for impairment at the reporting unit level annually in the fourth quarter and whenever events or circumstances indicate that the carrying value may not be recoverable. The Company's reporting units represent an operating segment or one level below an operating segment. The Company utilizes the two-step quantitative approach to evaluate goodwill for impairment. The Company performs the first step of the test by comparing the estimated fair value of each reporting unit to its carrying value, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the Company performs the second step of the test to measure the amount of impairment, if any. In the second step of the test, the Company allocates the fair value of the reporting unit to the assets and liabilities of the reporting unit to determine the implied fair value of the goodwill. If the carrying amount of the reporting unit's goodwill exceeds the implied value of goodwill, an impairment loss is recognized. The fair value of each reporting unit is estimated using an income approach based on the present value of expected future cash flows and a market approach based on valuation metrics of comparable peer companies and a reconciliation of the Company's estimate of the aggregate fair value of the reporting units to the Company's market capitalization, including a control premium. The determination of fair value involves a number of significant assumptions and estimates including discount rates, volumes, prices, capital expenditures and the impact of current market conditions. These estimates could be materially impacted by adverse changes in these assumptions. As a result of the annual goodwill impairment analysis in fiscal 2015 , the Company recorded a goodwill impairment charge of $7.3 million related to its Americas Recycling segment. In fiscal 2013, the Company recorded goodwill impairment charges of $6.4 million , including foreign currency translation gains of $0.6 million , related to its Australian subsidiaries. See Note 7, Goodwill and Other Intangible Assets, for additional details of these impairment charges. For fiscal 2015 and 2013, the annual goodwill impairment analysis did not result in any impairment charges at any of the Company's other reporting units. During fiscal 2014 , the annual goodwill impairment analysis did not result in any impairment charges at any of the Company's reporting units. As of August 31, 2015 and 2014 one of the Company's reporting units within the Americas Fabrication reporting segment comprised $51.3 million of the Company's total goodwill. Goodwill at the Company's other reporting units was not material at August 31, 2015 and 2014 . Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment charges are recorded on finite-lived intangible assets when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts. During fiscal 2015 , impairment charges related to the Company's intangible assets with finite lives were not material. As of August 31, 2014 , none of the Company's intangible assets with finite lives were impaired.
Contingencies	Contingencies The Company accrues for claims and litigation, including environmental investigation and remediation costs, when they are both probable and the amount can be reasonably estimated. Environmental costs are based upon estimates regarding the sites for which the Company will be responsible, the scope and cost of work to be performed at each site, the portion of costs that will be shared with other parties and the timing of remediation. Where timing and amounts cannot be reasonably determined, a range is estimated and the lower end of the range is typically recorded.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based equity awards and liability awards at fair value in the financial statements. The fair value of each stock-based equity award is estimated at the date of grant using the Black-Scholes or Monte Carlo pricing model. Total compensation cost of the stock-based equity award is amortized over the requisite service period using the accelerated method of amortization for grants with graded vesting or using the straight-line method for grants with cliff vesting. Stock-based liability awards are measured at fair value at the end of each reporting period and will fluctuate based on the price of CMC common stock and performance relative to the targets.
Accounts Payable - Documentary Letters of Credit	Accounts Payable — Documentary Letters of Credit In order to facilitate certain trade transactions, the Company utilizes documentary letters of credit to provide assurance of payment to its suppliers. These letters of credit are typically for payment at a future date conditional upon the bank determining the documentation presented to be in strict compliance with all terms and conditions of the letter of credit. Banks issue these letters of credit under uncommitted lines of credit, which are in addition to and separate from the Company's contractually committed revolving credit agreement. In some cases, if the Company's suppliers choose to discount the future dated obligation, the Company may pay the fee associated with the discount.
Income Taxes	Income Taxes CMC and its U.S. subsidiaries file a consolidated federal income tax return. Deferred income taxes are provided for temporary differences between financial statement and income tax bases of assets and liabilities. The principal differences are described in Note 14, Income Tax. Benefits from income tax credits are reflected currently in earnings. The Company intends to indefinitely reinvest all undistributed earnings of non-U.S. subsidiaries. The Company records income tax positions based on a more likely than not threshold that the tax positions will be sustained on examination by the taxing authorities having full knowledge of all relevant information.
Foreign Currencies	Foreign Currencies The functional currencies of the Company's Australian, German, Polish, United Kingdom and certain Chinese, Singaporean and Thai operations are their local currencies. The Company's remaining international subsidiaries' functional currency is the U.S. dollar. Translation adjustments are reported as a component of accumulated other comprehensive income (loss). Transaction gains (losses) from transactions denominated in currencies other than the functional currencies were $(45.4) million , $9.0 million and $(5.8) million for the years ended August 31, 2015 , 2014 and 2013 , respectively, and are included in selling, general and administrative expenses in the Company's consolidated statements of earnings.
Derivative Financial Instruments	Derivative Financial Instruments The Company records derivative instruments on the balance sheet as assets or liabilities, measured at fair value. Gains or losses from the changes in the values of the derivative instruments and hedged items are recorded in the statements of earnings, or are deferred if they are designated for hedge accounting and are highly effective in achieving offsetting changes in fair values or cash flows of the hedged items during the term of the hedge.
Fair Value	Fair Value The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Level 1 represents unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 represents quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable, either directly or indirectly. Level 3 represents valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In the fourth quarter of fiscal 2015, the Company adopted guidance issued by the Financial Accounting Standards Board ("FASB") specifying that the SEC would not object to an entity deferring and presenting debt issuance costs related to line-of-credit arrangements as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. The Company previously accounted for such debt issuance costs in a manner consistent with the new guidance and the adoption of this guidance did not have a material impact on its consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to net an unrecognized tax benefit with a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The adoption of this guidance did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to release any related cumulative translation adjustment into net income when it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, the guidance resolves the diversity in practice for the treatment of business combinations achieved in stages involving a foreign entity. The Company previously accounted for such transactions in a manner consistent with the new guidance and the adoption of this guidance did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2015, the Company adopted guidance issued by the FASB requiring an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The guidance also requires entities to disclose the nature and amount of the obligation as well as other information about the obligation. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements. In July 2015, the FASB issued guidance requiring entities to measure inventory, other than that measured using LIFO or the retail inventory method, at the lower of cost and net realizable value. This guidance is effective for fiscal years beginning after December 15, 2016 and interim periods therein. The Company plans to early adopt this guidance on a prospective basis in the first quarter of fiscal 2016. In April 2015, the FASB issued guidance clarifying the circumstances under which an entity would account for fees paid in a cloud computing arrangement as a license of internal-use software. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In April 2015, the FASB issued guidance requiring an entity to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In February 2015, the FASB issued guidance modifying the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities. This guidance also eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. Entities may elect to apply this guidance either on a retrospective or a modified retrospective basis. The Company does not expect this guidance to have a material impact on its consolidated financial statements In January 2015, the FASB issued guidance eliminating the concept of extraordinary items. Under this guidance an entity will no longer be allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual in nature and occurs infrequently. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015 with early adoption permitted. The Company plans to adopt this guidance prospectively. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued guidance requiring management to evaluate whether there are conditions and events that raise substantial doubt about the entity's ability to continue as a going concern and to provide disclosures in certain circumstances. The new guidance was issued to reduce diversity in the timing and content of footnote disclosures. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2016. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued guidance providing a measurement alternative to the existing fair value measurement guidance for reporting entities that consolidate a collateralized financing entity in which (1) the financial assets and financial liabilities are measured at fair value except for those incidental financial assets and financial liabilities with their carrying values that approximate fair values and (2) the changes in the fair values of those financial assets and financial liabilities are reflected in earnings. When the measurement alternative is elected, the financial assets and liabilities of a collateralized financing entity will be measured using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. This guidance is effective for public business entities for annual periods, and for interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted as of the beginning of an annual period. The Company does not expect this guidance to have a material impact on its consolidated financial statements. In June 2014, the FASB issued guidance requiring entities to account for a performance target as a performance condition if the target affects vesting and could be achieved after the requisite service period. The new guidance did not introduce additional disclosure requirements and was issued to resolve diversity in practice. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2015. The Company currently accounts for such performance targets in a manner consistent with the new guidance and does not expect this guidance to have a material impact on its consolidated financial statements. In May 2014, the FASB issued guidance requiring entities to recognize revenue from contracts with customers by applying a five-step model in accordance with the core principle to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this guidance specifies the accounting for some costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. In August 2015, the FASB issued guidance deferring the effective date of this guidance to annual periods beginning after December 15, 2017, including interim reporting periods therein. Entities have the option to adopt this guidance either retrospectively or through a modified retrospective transition method. This new standard will supersede existing revenue guidance and affect the Company's revenue recognition process and the presentations or disclosures of the Company's consolidated financial statements and footnotes. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In April 2014, the FASB issued guidance changing the requirements for reporting discontinued operations if the disposal of a component of an entity, or a group of components of an entity, represents a strategic shift that has, or will have, a major effect on an entity's operations and financial results. The guidance requires expanded disclosures for discontinued operations and also requires entities to disclose the pre-tax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. The new guidance is effective prospectively for fiscal years, and interim periods within those years, beginning on or after December 15, 2014. The guidance will affect the Company's current practice of assessing discontinued operations and the presentation and disclosure in the Company's consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
Estimated useful lives for depreciation and amortization	Depreciation and amortization is recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years

ACCUMULATED OTHER COMPREHENSI36

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Aug. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss), net of income taxes, was comprised of the following: (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total Accumulated Other Comprehensive Income (Loss) Balance at September 1, 2012 $ (17,369 ) $ 3,710 $ (4,477 ) $ (18,136 ) Other comprehensive income (loss) before reclassifications (10,108 ) 221 1,147 (8,740 ) Amounts reclassified from AOCI — (337 ) 37 (300 ) Net other comprehensive income (loss) (10,108 ) (116 ) 1,184 (9,040 ) Balance at August 31, 2013 (27,477 ) 3,594 (3,293 ) (27,176 ) Other comprehensive income (loss) before reclassifications 7,586 (1,848 ) (489 ) 5,249 Amounts reclassified from AOCI — 1,268 1,150 2,418 Net other comprehensive income (loss) 7,586 (580 ) 661 7,667 Balance at August 31, 2014 (19,891 ) 3,014 (2,632 ) (19,509 ) Other comprehensive loss before reclassifications (83,063 ) (2,467 ) (169 ) (85,699 ) Amounts reclassified from AOCI (10,127 ) 1,758 42 (8,327 ) Net other comprehensive loss (93,190 ) (709 ) (127 ) (94,026 ) Balance at August 31, 2015 $ (113,081 ) $ 2,305 $ (2,759 ) $ (113,535 )
Schedule of reclassification out of accumulated other comprehensive income (loss)	The significant items reclassified out of accumulated other comprehensive income (loss) and the corresponding line items in the consolidated statements of earnings to which the items were reclassified were as follows: Year Ended August 31, Components of AOCI (in thousands) Location 2015 2014 2013 Foreign currency translation adjustments and other: Translation gain realized upon sale of investment in foreign entity Loss from discontinued operations before income taxes $ 10,127 $ — $ — Unrealized gain (loss) on derivatives: Commodity Cost of goods sold $ (665 ) $ (160 ) $ (260 ) Foreign exchange Net sales 124 (232 ) 60 Foreign exchange Cost of goods sold (2,774 ) (1,698 ) — Foreign exchange SG&A expenses 76 53 48 Interest rate Interest expense 532 532 617 (2,707 ) (1,505 ) 465 Income tax effect Income taxes (expense) benefit 949 237 (128 ) Net of income taxes $ (1,758 ) $ (1,268 ) $ 337 Defined benefit obligation: Amortization of net loss SG&A expenses $ (134 ) $ (1,604 ) $ (252 ) Amortization of prior service credit SG&A expenses 71 289 208 (63 ) (1,315 ) (44 ) Income tax effect Income taxes (expense) benefit 21 165 7 Net of income taxes $ (42 ) $ (1,150 ) $ (37 ) Amounts in parentheses reduce earnings.

SALES OF ACCOUNTS RECEIVABLE (A

SALES OF ACCOUNTS RECEIVABLE (Activity of the Deferred Purchase Price Receivables) (Tables)	12 Months Ended
	Aug. 31, 2015
Transfers and Servicing [Abstract]
Activity of the deferred purchase price receivables	The following tables summarize the activity of the deferred purchase price receivables for the U.S. and international sale of accounts receivable programs: (in thousands) Total U.S. Australia* Europe Balance at September 1, 2012 $ 515,481 $ 396,919 $ 70,073 $ 48,489 Transfers of accounts receivable 4,423,952 3,570,922 408,530 444,500 Collections (4,486,181 ) (3,609,019 ) (413,607 ) (463,555 ) Balance at August 31, 2013 $ 453,252 $ 358,822 $ 64,996 $ 29,434 Transfers of accounts receivable 4,243,471 3,347,103 487,583 408,785 Collections (4,239,242 ) (3,376,128 ) (446,196 ) (416,918 ) Program termination (72,312 ) — (72,312 ) — Balance at August 31, 2014 $ 385,169 $ 329,797 $ 34,071 $ 21,301 Transfers of accounts receivable 3,574,283 2,944,627 298,179 331,477 Collections (3,619,905 ) (3,004,646 ) (314,212 ) (301,047 ) Balance at August 31, 2015 $ 339,547 $ 269,778 $ 18,038 $ 51,731 _________________________ * Includes the sale of accounts receivable activities related to businesses sold or held for sale (transfer of accounts receivable of $180.0 million and collections of $209.2 million ) for the year ended August 31, 2015 .

GOODWILL AND OTHER INTANGIBLE38

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Aug. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	The following table details the changes in the carrying amount of goodwill by reportable segment: Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Consolidated Balance at September 1, 2013 Goodwill $ 9,751 $ 295 $ 57,637 $ 2,942 $ 8,449 $ 79,074 Accumulated impairment losses (2,484 ) — (493 ) (187 ) (6,331 ) (9,495 ) 7,267 295 57,144 2,755 2,118 69,579 Acquisition — 4,675 — — — 4,675 Translation — — — 21 44 65 Balance at August 31, 2014 Goodwill 9,751 4,970 57,637 2,964 8,805 84,127 Accumulated impairment losses (2,484 ) — (493 ) (188 ) (6,643 ) (9,808 ) 7,267 4,970 57,144 2,776 2,162 74,319 Impairment (7,267 ) — — — — (7,267 ) Goodwill reclassified to assets held for sale (1) — — — (6,643 ) (6,643 ) Accumulated impairment losses reclassified to assets held for sale (1) — — — 6,643 6,643 Translation — — — (419 ) (250 ) (669 ) Balance at August 31, 2015 Goodwill 9,751 4,970 57,637 2,517 1,912 76,787 Accumulated impairment losses (9,751 ) — (493 ) (160 ) — (10,404 ) $ — $ 4,970 $ 57,144 $ 2,357 $ 1,912 $ 66,383 (1) Includes $1.6 million of goodwill and $1.6 million of accumulated goodwill impairment losses related to assets that were sold during the fourth quarter of fiscal 2015
Intangible assets subject to amortization	The following intangible assets subject to amortization are included in other noncurrent assets on the Company's consolidated balance sheets: August 31, 2015 August 31, 2014 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer base $ 35,369 $ 28,814 $ 6,555 $ 38,078 $ 25,989 $ 12,089 Favorable land leases 10,091 2,101 7,990 11,661 2,075 9,586 Non-competition agreements 1,629 217 1,412 779 40 739 Brand name 648 306 342 3,216 1,452 1,764 Other 101 52 49 101 45 56 Total $ 47,838 $ 31,490 $ 16,348 $ 53,835 $ 29,601 $ 24,234
Estimated future amortization expense of intangible assets	Estimated amounts of amortization expense for the next five years are as follows: Year Ended August 31, (in thousands) 2016 $ 4,136 2017 550 2018 1,043 2019 1,072 2020 862

BUSINESSES HELD FOR SALE, DIS39

BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS (Tables)	12 Months Ended
	Aug. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Components of assets and liabilities of businesses held for sale	The components of assets and liabilities of businesses held for sale on the Company's consolidated balance sheet were as follows: (in thousands) August 31, 2015 Assets: Accounts receivable $ 3,244 Inventories, net 12,514 Other current assets 41 Property, plant and equipment, net of accumulated depreciation and amortization 1,209 Assets of businesses held for sale $ 17,008 Liabilities: Accounts payable-trade $ 3,011 Accrued expenses and other payables 2,265 Liabilities of businesses held for sale $ 5,276
Financial information for discontinued operations	Financial information for discontinued operations was as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Net sales $ 173,065 $ 266,819 $ 446,285 Earnings (loss) before income taxes (20,124 ) 15,005 (26,094 )

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	12 Months Ended
	Aug. 31, 2015
Debt Disclosure [Abstract]
Long-term debt, including the deferred gain from the termination of the interest rate swaps	Long-term debt, including the deferred gain from the termination of the interest rate swaps, was as follows: Weighted Average August 31, (in thousands) 2015 2014 $400 million notes at 6.50% due July 2017 5.74% $ 405,573 $ 408,546 $500 million notes at 7.35% due August 2018 6.40% 513,680 518,305 $330 million notes at 4.875% due May 2023 4.875% 330,000 330,000 Other, including equipment notes 38,739 32,196 1,287,992 1,289,047 Less current maturities 10,110 8,005 $ 1,277,882 $ 1,281,042 Interest on these notes is payable semiannually.
Scheduled maturities of the Company's long-term debt	The scheduled maturities of the Company's long-term debt are as follows: Year Ending August 31, (in thousands) 2016 $ 10,110 2017 409,870 2018 509,269 2019 6,966 2020 2,443 Thereafter 330,080 Total excluding deferred gain of interest rate swaps 1,268,738 Deferred gain of interest rate swaps 19,254 Total long-term debt including current maturities $ 1,287,992

DERIVATIVES AND RISK MANAGEME41

DERIVATIVES AND RISK MANAGEMENT (Tables)	12 Months Ended
	Aug. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Not Designated as Hedging Instruments	The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the consolidated statements of earnings: Year Ended August 31, Derivatives Not Designated as Hedging Instruments (in thousands) Location 2015 2014 2013 Commodity Cost of goods sold $ 7,746 $ 2,504 $ 2,456 Foreign exchange Net sales 3,016 473 — Foreign exchange Cost of goods sold 4,996 (1,078 ) — Foreign exchange SG&A expenses 23,105 (4,135 ) 5,089 Other Cost of goods sold — — 9 Gain (loss) before income taxes $ 38,863 $ (2,236 ) $ 7,554
Derivatives Designated as Fair Value Hedging Instruments	Derivatives Designated as Fair Value Year Ended August 31, Location 2015 2014 2013 Foreign exchange Net sales $ (105 ) $ 93 $ (151 ) Foreign exchange Cost of goods sold 881 (1,465 ) 2,241 Gain (loss) before income taxes $ 776 $ (1,372 ) $ 2,090
Hedged Items Designated as Fair Value Hedging Instruments	Hedged Items Designated as Fair Value Year Ended August 31, Location 2015 2014 2013 Foreign exchange Net sales $ 105 $ (91 ) $ 153 Foreign exchange Cost of goods sold (881 ) 1,469 (2,241 ) Gain (loss) before income taxes $ (776 ) $ 1,378 $ (2,088 )
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss)	Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) (in thousands) August 31, 2015 2014 2013 Commodity $ (635 ) $ (54 ) $ (218 ) Foreign exchange (1,832 ) (1,794 ) 439 Gain (loss), net of income taxes $ (2,467 ) $ (1,848 ) $ 221
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss)	Effective Portion of Derivatives Designated as Cash Flow Year Ended August 31 , Location 2015 2014 2013 Commodity Cost of goods sold $ (665 ) $ (160 ) $ (260 ) Foreign exchange Net sales 124 (213 ) 73 Foreign exchange Cost of goods sold (2,774 ) (1,717 ) 18 Foreign exchange SG&A expenses 76 53 17 Interest rate Interest expense 532 532 617 Gain (loss) before income taxes (2,707 ) (1,505 ) 465 Income tax (expense) benefit Income taxes 949 237 (128 ) Gain (loss), net of income taxes $ (1,758 ) $ (1,268 ) $ 337
Derivative Assets	The fair value of the Company's derivative instruments on the consolidated balance sheets was as follows: Derivative Assets (in thousands) August 31, 2015 2014 Commodity — designated for hedge accounting $ 19 $ 42 Commodity — not designated for hedge accounting 846 869 Foreign exchange — designated for hedge accounting 1,500 136 Foreign exchange — not designated for hedge accounting 3,088 1,853 Derivative assets (other current assets)* $ 5,453 $ 2,900
Derivative Liabilities	Derivative Liabilities (in thousands) August 31, 2015 2014 Commodity — designated for hedge accounting $ 129 $ 6 Commodity — not designated for hedge accounting 537 162 Foreign exchange — designated for hedge accounting 874 325 Foreign exchange — not designated for hedge accounting 1,263 1,010 Derivative liabilities (accrued expenses and other payables)* $ 2,803 $ 1,503 _________________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Aug. 31, 2015
Fair Value Disclosures [Abstract]
Financial assets and financial liabilities measured at fair value on a recurring basis	The following tables summarize information regarding the Company's financial assets and financial liabilities that were measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2015 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 271,840 $ 271,840 $ — $ — Commodity derivative assets (2) 865 846 19 — Foreign exchange derivative assets (2) 4,588 — 4,588 — Liabilities: Commodity derivative liabilities (2) 666 537 129 — Foreign exchange derivative liabilities (2) 2,137 — 2,137 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2014 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 200,487 $ 200,487 $ — $ — Commodity derivative assets (2) 911 911 — — Foreign exchange derivative assets (2) 1,989 — 1,989 — Liabilities: Commodity derivative liabilities (2) 168 162 6 — Foreign exchange derivative liabilities (2) 1,335 — 1,335 — _________________ (1) Money market investments are short-term in nature, and the value is determined by broker quoted prices in active markets. The investment portfolio mix can change each period based on the Company's assessment of investment options. (2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or the New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Further discussion regarding the Company's use of derivative instruments and the classification of the assets and liabilities is included in Note 12, Derivatives and Risk Management.
Financial assets and liabilities that are not required to be measured at fair value	The carrying values and estimated fair values of the Company's financial assets and liabilities that are not required to be measured at fair value on the consolidated balance sheets are as follows: August 31, 2015 August 31, 2014 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value $400 million notes at 6.50% due July 2017 (1) Level 2 $ 405,573 $ 419,400 $ 408,546 $ 438,200 $500 million notes at 7.35% due August 2018 (1) Level 2 513,680 530,000 518,305 567,560 $330 million notes at 4.875% due May 2023 (1) Level 2 330,000 300,630 330,000 325,050 _________________ (1) The fair value of the notes is determined based on indicated market values.

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Aug. 31, 2015
Income Tax Disclosure [Abstract]
Components of earnings from continuing operations before income taxes (benefit)	The components of earnings from continuing operations before income taxes are as follows: Year Ended August 31, (in thousands) 2015 2014 2013 United States $ 217,008 $ 108,882 $ 147,204 Foreign 27,520 42,933 15,498 Total $ 244,528 $ 151,815 $ 162,702
Income taxes (benefit) included in the consolidated statements of operations	The income taxes (benefit) included in the consolidated statements of earnings are as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Current: United States $ 53,258 $ 11,798 $ 849 Foreign 3,329 2,965 1,970 State and local 2,830 4,157 1,815 Current taxes $ 59,417 $ 18,920 $ 4,634 Deferred: United States $ 19,269 $ 30,427 $ 45,908 Foreign 722 4,457 4,980 State and local 3,362 (2,536 ) 3,767 Deferred taxes $ 23,353 $ 32,348 $ 54,655 Total income taxes on income $ 82,770 $ 51,268 $ 59,289 Income taxes (benefit) on discontinued operations (436 ) 8,544 1,310 Income taxes on continuing operations $ 83,206 $ 42,724 $ 57,979
Reconciliation of the federal statutory rate to effective tax rate from continuing operations	A reconciliation of the federal statutory rate to the Company's effective income tax rate from continuing operations is as follows: Year Ended August 31, (in thousands) 2015 2014 2013 Income tax expense at statutory rate of 35% $ 85,585 $ 53,135 $ 56,946 State and local taxes 4,020 88 3,460 Section 199 manufacturing deduction (4,017 ) (1,199 ) — Foreign rate differential (2,404 ) (6,290 ) (4,783 ) Change in valuation allowance 12,305 19,978 5,334 Deferred compensation 772 (4,164 ) (2,890 ) Nontaxable foreign interest (16,712 ) (16,506 ) (5,445 ) Disposition of foreign subsidiaries — — 6,292 Australian reorganization — — (7,245 ) Other 3,657 (2,318 ) 6,310 Income tax expense on continuing operations $ 83,206 $ 42,724 $ 57,979 Effective income tax rates from continuing operations 34.0 % 28.1 % 35.6 %
Tax effects of significant temporary differences giving rise to deferred tax assets and liabilities	The income tax effects of significant temporary differences giving rise to deferred tax assets and liabilities are as follows: August 31, (in thousands) 2015 2014 Deferred tax assets: Deferred compensation and employee benefits $ 48,309 $ 51,956 Net operating losses and credits 78,838 68,736 Reserves and other accrued expenses 21,380 45,246 Allowance for doubtful accounts 3,334 3,760 Intangibles 8,086 6,707 Other 9,562 8,766 Total deferred tax assets 169,509 185,171 Valuation allowance for deferred tax assets (79,965 ) (69,762 ) Deferred tax assets, net $ 89,544 $ 115,409 Deferred tax liabilities: Fixed assets $ 102,144 $ 99,016 Inventory 3,774 8,320 Other 3,981 4,066 Total deferred tax liabilities $ 109,899 $ 111,402 Deferred tax assets, net of deferred tax liabilities $ (20,355 ) $ 4,007
Reconciliation of the beginning and ending amounts of unrecognized tax benefits	A reconciliation of the beginning and ending amounts of unrecognized income tax benefits is as follows: August 31, (in thousands) 2015 2014 2013 Balance at September 1 $ 27,349 $ 28,551 $ 27,384 Change in tax positions of current year — — 1,255 Change for tax positions of prior years — (1,202 ) — Reductions due to settlements with taxing authorities — — (88 ) Balance at August 31 $ 27,349 $ 27,349 $ 28,551

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Aug. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total awards granted	The following table summarizes the total awards granted: Stock Restricted Stock Performance 2015 Grants — 987,574 462,496 2014 Grants — 1,191,544 450,233 2013 Grants 244,403 1,149,696 640,002
Restricted stock units and performance stock units, excluding the cash component	Information for restricted stock units and performance stock units, excluding the cash component, is as follows: Number Weighted Average Outstanding as of September 1, 2012 1,683,572 $ 13.16 Granted 1,159,451 13.60 Vested (537,303 ) 13.35 Forfeited (398,302 ) 12.22 Outstanding as of August 31, 2013 1,907,418 13.57 Granted 1,275,355 16.89 Vested (737,870 ) 13.55 Forfeited (364,323 ) 14.94 Outstanding as of August 31, 2014 2,080,580 15.37 Granted 1,468,696 15.79 Vested (712,279 ) 14.33 Forfeited (103,663 ) 15.51 Outstanding as of August 31, 2015 2,733,334 $ 15.86
Valuation assumptions for stock appreciation rights and stock options	The estimated fair value of stock appreciation rights and stock options granted under the Company's plans during the year ended August 31, 2013 of $0.6 million was estimated on the date of grant using the Black-Scholes Option Pricing Model with the following assumptions: 2013 Risk-free interest rate 0.41 % Expected life, years 3.0 Expected volatility 43 % Expected dividend yield 3.40 % Weighted average grant-date fair value per share $ 3.38
Combined activity for stock appreciation rights and stock options, excluding the cash component	Combined activity for the Company's stock appreciation rights and stock options, excluding the cash component, is as follows: Number Weighted Weighted Aggregate Intrinsic Value Outstanding as of September 1, 2012 2,930,492 $ 24.81 Granted 185,004 14.25 Exercised (4,105 ) 11.60 Forfeited/Expired (457,961 ) 24.91 Outstanding as of August 31, 2013 2,653,430 $ 24.07 2.8 $ 2,867,175 Exercised (223,473 ) 11.84 Forfeited/Expired (992,926 ) 32.93 Outstanding as of August 31, 2014 1,437,031 $ 19.85 2.7 $ 4,384,668 Exercised (142,604 ) 11.80 Forfeited/Expired (452,210 ) 35.10 Outstanding as of August 31, 2015 842,217 $ 13.04 2.7 $ 2,243,765 Exercisable at August 31, 2015 789,498 $ 12.95 2.6 $ 2,168,298 Remaining unvested stock appreciation rights and stock options expected to vest 50,083 $ 14.27
Stock appreciation rights and stock options	Information related to stock appreciation rights and stock options as of August 31, 2015 is summarized below: Stock Appreciation Rights and Stock Options Outstanding Stock Appreciation Rights and Stock Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (In Years) Weighted Number Exercisable Weighted Average Remaining Contractual Life (In Years) Weighted $11.00 - 14.68 720,511 2.7 $ 12.40 671,027 2.6 $ 12.27 $16.54 - 16.83 121,706 2.5 $ 16.81 118,471 2.5 $ 16.81 842,217 2.7 $ 13.04 789,498 2.6 $ 12.95
Yearly activity of the stock purchase plan	Yearly activity of the stock purchase plan is as follows: 2015 2014 2013 Shares subscribed 198,710 228,780 281,460 Price per share $ 13.73 $ 16.97 $ 12.61 Shares purchased 172,170 221,570 211,580 Price per share $ 16.96 $ 12.61 $ 11.85 Shares available for future issuance 3,810,924

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Aug. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Minimum lease commitments payable for noncancelable operating leases	Minimum lease commitments payable by the Company for noncancelable operating leases are as follows: Year Ending August 31, (in thousands) 2016 $ 30,390 2017 25,648 2018 18,949 2019 14,785 2020 9,119 Thereafter 19,236 Total $ 118,127

EARNINGS PER SHARE ATTRIBUTAB46

EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Tables)	12 Months Ended
	Aug. 31, 2015
Earnings Per Share [Abstract]
Calculations of basic and diluted earnings per share from continuing operations	The calculations of basic and diluted earnings per share from continuing operations were as follows: August 31, 2015 2014 2013 Earnings from continuing operations $ 161,322 $ 109,091 $ 104,723 Basic earnings per share: Shares outstanding for basic earnings per share 116,527,265 117,496,270 116,677,836 Basic earnings per share from continuing operations attributable to CMC $ 1.39 $ 0.93 $ 0.90 Diluted earnings per share: Shares outstanding for basic earnings per share 116,527,265 117,496,270 116,677,836 Effect of dilutive securities: Stock-based incentive/purchase plans 1,422,633 1,110,836 875,116 Shares outstanding for diluted earnings per share 117,949,898 118,607,106 117,552,952 Diluted earnings per share from continuing operations attributable to CMC $ 1.37 $ 0.92 $ 0.89 Anti-dilutive shares not included above 371,273 679,916 1,492,206 _______________________ All stock options and stock appreciation rights expire during fiscal 2020.

ACCRUED EXPENSES AND OTHER PA47

ACCRUED EXPENSES AND OTHER PAYABLES (Tables)	12 Months Ended
	Aug. 31, 2015
Payables and Accruals [Abstract]
Significant accrued expenses and other payables	Significant accrued expenses and other payables were as follows: August 31, (in thousands) 2015 2014 Salaries and incentive compensation $ 97,968 $ 115,840 Taxes other than income taxes 41,433 39,998 Advance billings on contracts 30,412 41,645 Insurance 23,123 25,239 Inventory 7,113 17,181

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Aug. 31, 2015
Segment Reporting [Abstract]
Summary of certain financial information from continuing operations by reportable segment	The following is a summary of certain financial information from continuing operations by reportable segment: Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations 2015 Net sales-unaffiliated customers $ 887,068 $ 1,048,063 $ 1,612,084 $ 626,219 $ 1,814,319 $ 852 $ — $ 5,988,605 Intersegment sales 135,553 793,749 12,154 32 83,298 — (1,024,786 ) — Net sales 1,022,621 1,841,812 1,624,238 626,251 1,897,617 852 (1,024,786 ) 5,988,605 Adjusted operating profit (loss) (18,637 ) 304,272 39,183 17,555 57,885 (77,832 ) 1,409 323,835 Interest expense* 2,628 4,207 8,864 2,620 9,096 50,345 — 77,760 Capital expenditures** 12,811 67,203 14,883 15,413 296 5,194 — 115,800 Depreciation and amortization*** 24,954 46,780 19,094 28,211 2,551 20,752 — 142,342 Total assets**** 251,793 672,322 687,884 403,706 802,007 1,075,642 (552,577 ) 3,340,777 2014 Net sales-unaffiliated customers $ 1,176,907 $ 1,198,249 $ 1,523,573 $ 822,224 $ 2,055,202 $ 14,283 $ — $ 6,790,438 Intersegment sales 190,163 793,085 13,912 969 65,335 — (1,063,464 ) — Net sales 1,367,070 1,991,334 1,537,485 823,193 2,120,537 14,283 (1,063,464 ) 6,790,438 Adjusted operating profit (loss) (3,222 ) 247,703 6,196 30,632 24,027 (72,347 ) (302 ) 232,687 Interest expense* 2,700 7,059 10,222 4,608 6,924 45,524 — 77,037 Capital expenditures** 16,771 31,781 13,798 30,770 1,122 6,907 — 101,149 Depreciation and amortization*** 16,424 45,392 19,192 32,776 2,500 21,243 — 137,527 Total assets**** 296,564 647,437 691,765 466,449 803,263 1,100,995 (469,093 ) 3,537,380 2013 Net sales-unaffiliated customers $ 1,225,604 $ 1,060,337 $ 1,427,785 $ 819,889 $ 2,055,623 $ 11,832 $ — $ 6,601,070 Intersegment sales 166,145 759,183 14,906 6,155 38,554 — (984,943 ) — Net sales 1,391,749 1,819,520 1,442,691 826,044 2,094,177 11,832 (984,943 ) 6,601,070 Adjusted operating profit (loss) 3,170 204,333 28,033 890 63,327 (66,453 ) 848 234,148 Interest expense* 9 (101 ) 83 992 3,200 64,256 — 68,439 Capital expenditures** 21,261 37,216 5,605 15,155 864 7,552 — 87,653 Depreciation and amortization*** 13,453 42,925 22,302 33,238 2,387 21,096 — 135,401 Total assets**** 309,599 598,478 631,510 487,613 724,963 1,075,594 (496,058 ) 3,331,699 ________________________ * Includes intercompany interest expense (income) in the segments and is all eliminated within Corporate. ** Excludes capital expenditures from discontinued operations that were immaterial for the year ended August 31, 2015 , 2014 and 2013 . *** Includes asset impairment charges. **** Excludes total assets from discontinued operations of $31.5 million at August 31, 2015 , $151.1 million at August 31, 2014 and $163.1 million at August 31, 2013 .
Reconciliations of earnings from continuing operations to adjusted operating profit	Reconciliations of earnings from continuing operations to adjusted operating profit are provided below: Year Ended August 31, (in thousands) 2015 2014 2013 Earnings from continuing operations $ 161,322 $ 109,091 $ 104,723 Income taxes 83,206 42,724 57,979 Interest expense 77,760 77,037 68,439 Discounts on sales of accounts receivable 1,547 3,835 3,007 Adjusted operating profit from continuing operations $ 323,835 $ 232,687 $ 234,148
External net sales from continuing operations by major product	Year Ended August 31, (in thousands) 2015 2014 2013 Major product information: Steel products $ 4,084,092 $ 4,500,093 $ 4,033,286 Industrial materials 566,323 659,251 928,472 Nonferrous scrap 536,856 639,961 682,611 Ferrous scrap 428,192 659,578 646,263 Construction materials 220,232 199,154 189,046 Nonferrous products 10,443 8,761 5,674 Other 142,467 123,640 115,718 Net sales $ 5,988,605 $ 6,790,438 $ 6,601,070
External net sales from continuing operations by geographic area	Year Ended August 31, (in thousands) 2015 2014 2013 Geographic area: United States $ 4,199,789 $ 4,510,080 $ 4,107,231 Europe 1,006,204 1,215,150 1,108,196 Asia 578,755 786,512 1,094,458 Australia/New Zealand 121,403 175,756 199,603 Other 82,454 102,940 91,582 Net sales $ 5,988,605 $ 6,790,438 $ 6,601,070
Long-lived assets by geographic area	The following table represents long-lived assets by geographic area: August 31, (in thousands) 2015 2014 2013 United States $ 866,421 $ 871,326 $ 868,643 Europe 189,796 243,280 239,899 Asia 7,692 8,814 7,618 Australia/New Zealand 1,292 11,309 12,446 Total long-lived assets $ 1,065,201 $ 1,134,729 $ 1,128,606

QUARTERLY FINANCIAL DATA (UNA49

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Aug. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized quarterly financial data	Summarized quarterly financial data for fiscal 2015 and 2014 was as follows: Three Months Ended Fiscal 2015 (in thousands except per share data) Nov. 30 Feb. 28 May 31 Aug. 31 Net sales* $ 1,679,990 $ 1,391,117 $ 1,506,002 $ 1,411,496 Gross profit* 186,221 221,414 235,958 131,809 Net earnings (loss) attributable to CMC 36,253 54,451 56,681 (5,751 ) Basic EPS attributable to CMC 0.31 0.47 0.49 (0.05 ) Diluted EPS attributable to CMC 0.30 0.46 0.49 (0.05 ) Three Months Ended Fiscal 2014 (in thousands except per share data) Nov. 30 Feb. 28 May 31 Aug. 31 Net sales* $ 1,617,075 $ 1,597,461 $ 1,738,593 $ 1,837,309 Gross profit* 176,873 142,356 178,419 183,452 Net earnings attributable to CMC 45,919 11,143 23,563 34,926 Basic EPS attributable to CMC 0.39 0.09 0.20 0.29 Diluted EPS attributable to CMC 0.39 0.09 0.20 0.29 _________________________ * Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions.

NATURE OF OPERATIONS (Narrative

NATURE OF OPERATIONS (Narrative) (Details)	12 Months Ended
	Aug. 31, 2015scrap_processing_facilityComponentssegments
Number of business segments	5
Number of geographic divisions | Components	2
CMC Americas Division
Number of business segments	3
CMC International Division
Number of business segments	2
Americas Mills
Number of scrap processing facilities | scrap_processing_facility	10
United States
Number of divisions | Components	2
Singapore
Number of recycling facilities | Components	1

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	12 Months Ended
	Aug. 31, 2015USD ($)levels	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)
Equity method investment	$ 0
Restricted cash		$ 4,100,000
Goodwill impairment charges	7,267,000	0	$ 6,400,000
Goodwill	66,383,000	74,319,000	69,579,000
Transaction gains (losses)	$ (45,400,000)	9,000,000	(5,800,000)
Number of fair value hierarchy | levels	3
One reporting unit within Americas Fabrication
Goodwill	$ 51,300,000	$ 51,300,000	51,300,000
Receivables secured by credit insurance or letters of credit
Percentage of accounts receivable secured by credit insurance or letters of credit	35.00%	49.00%
Certain fabrication projects
Sales recognized in excess of amounts billed	$ 25,000,000	$ 24,200,000
Maximum
Cost method investment ownership percentage	20.00%
Americas Recycling
Goodwill impairment charges	$ 7,267,000		6,400,000
Foreign currency translation gain related to goodwill impairment			600,000
Goodwill	$ 0	$ 7,267,000	$ 7,267,000

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Estimated Useful Lives of Property, Plant and Equipment) (Details)	12 Months Ended
	Aug. 31, 2015
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years

ACCUMULATED OTHER COMPREHENSI53

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	$ (19,509)	$ (27,176)	$ (18,136)
Other comprehensive loss before reclassifications	(85,699)	5,249	(8,740)
Amounts reclassified from AOCI	(8,327)	2,418	(300)
Other comprehensive income (loss)	(94,026)	7,667	(9,040)
Balance	(113,535)	(19,509)	(27,176)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(19,891)	(27,477)	(17,369)
Other comprehensive loss before reclassifications	(83,063)	7,586	(10,108)
Amounts reclassified from AOCI	(10,127)	0	0
Other comprehensive income (loss)	(93,190)	7,586	(10,108)
Balance	(113,081)	(19,891)	(27,477)
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	3,014	3,594	3,710
Other comprehensive loss before reclassifications	(2,467)	(1,848)	221
Amounts reclassified from AOCI	1,758	1,268	(337)
Other comprehensive income (loss)	(709)	(580)	(116)
Balance	2,305	3,014	3,594
Defined Benefit Obligation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(2,632)	(3,293)	(4,477)
Other comprehensive loss before reclassifications	(169)	(489)	1,147
Amounts reclassified from AOCI	42	1,150	37
Other comprehensive income (loss)	(127)	661	1,184
Balance	$ (2,759)	$ (2,632)	$ (3,293)

ACCUMULATED OTHER COMPREHENSI54

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassification out of accumulated other comprehensive income (loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Unrealized gain (loss) on derivatives:
Income taxes (expense) benefit	$ 949	$ 237	$ (128)
Net of income taxes	(1,758)	(1,268)	337
Foreign currency translation adjustments and other | SG&A expenses
Foreign currency translation adjustments and other:
Translation gain realized upon sale of investment in foreign entity	10,127	0	0
Unrealized gain (loss) on derivatives
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	(2,707)	(1,505)	465
Income taxes (expense) benefit	949	237	(128)
Net of income taxes	(1,758)	(1,268)	337
Unrealized gain (loss) on derivatives | Commodity | Cost of goods sold
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	(665)	(160)	(260)
Unrealized gain (loss) on derivatives | Foreign exchange | Cost of goods sold
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	(2,774)	(1,698)	0
Unrealized gain (loss) on derivatives | Foreign exchange | Net sales
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	124	(232)	60
Unrealized gain (loss) on derivatives | Foreign exchange | SG&A expenses
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	76	53	48
Unrealized gain (loss) on derivatives | Interest rate | Interest expense
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before Tax	532	532	617
Defined benefit obligation
Defined benefit obligation:
Reclassification adjustments from AOCI, pension and other postretirement benefit plans, before tax	(63)	(1,315)	(44)
Income taxes (expense) benefit	21	165	7
Net of income taxes	(42)	(1,150)	(37)
Defined benefit obligation | SG&A expenses
Defined benefit obligation:
Amortization of net loss	(134)	(1,604)	(252)
Amortization of prior service credit	$ 71	$ 289	$ 208

ACQUISITIONS (Narrative) (Detai

ACQUISITIONS (Narrative) (Details) - entities	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2013
Business Combinations [Abstract]
Number of business acquisitions	0	0

SALES OF ACCOUNTS RECEIVABLE (N

SALES OF ACCOUNTS RECEIVABLE (Narrative) (Details) AUD in Millions	Aug. 31, 2015AUD	May. 31, 2015PLN	Aug. 31, 2014USD ($)	Feb. 28, 2015PLN	Jul. 31, 2015AUD	Aug. 31, 2015USD ($)entities	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Proceed from sales of receivables						$ 596,400,000	$ 688,200,000	$ 1,000,000,000
Cash payment to owners of receivables						714,200,000	567,200,000	1,100,000,000
Discount on domestic and international sales of trade accounts receivables						$ 2,400,000	3,900,000	$ 3,900,000
U.S.
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Current advance limit for accounts receivable sold			$ 200,000,000
Number of financial institutions | entities						3
Maximum advance limit for accounts receivable sold						$ 300,000,000
Trade accounts receivable sold			389,600,000			274,300,000	389,600,000
Advance payment received on sale of account receivable			55,000,000			$ 0	55,000,000
European program
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Current advance limit for accounts receivable sold | PLN		PLN 220,000,000		PLN 200,000,000
Advances, maximum percentage of eligible receivables						90.00%
Australian program
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Maximum advance limit for accounts receivable sold | AUD	AUD 40				AUD 75
Percentage of eligible receivables sold						100.00%
European and Australian programs
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Trade accounts receivable sold			147,300,000			$ 97,900,000	147,300,000
Advance payment received on sale of account receivable			$ 90,500,000			$ 27,700,000	$ 90,500,000

SALES OF ACCOUNTS RECEIVABLE 57

SALES OF ACCOUNTS RECEIVABLE (Activity of the Deferred Purchase Price Receivables) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	$ 1,028,425
Ending balance	900,619	$ 1,028,425
Australia | Businesses Sold or Held for Sale
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Transfers of accounts receivable	180,000
Collections	(209,200)
Deferred purchase price receivables
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	385,169	453,252	$ 515,481
Transfers of accounts receivable	3,574,283	4,243,471	4,423,952
Collections	(3,619,905)	(4,239,242)	(4,486,181)
Program termInation		(72,312)
Ending balance	339,547	385,169	453,252
Deferred purchase price receivables | U.S.
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	329,797	358,822	396,919
Transfers of accounts receivable	2,944,627	3,347,103	3,570,922
Collections	(3,004,646)	(3,376,128)	(3,609,019)
Program termInation		0
Ending balance	269,778	329,797	358,822
Deferred purchase price receivables | Australia
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	34,071	64,996	70,073
Transfers of accounts receivable	298,179	487,583	408,530
Collections	(314,212)	(446,196)	(413,607)
Program termInation		(72,312)
Ending balance	18,038	34,071	64,996
Deferred purchase price receivables | Europe
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	21,301	29,434	48,489
Transfers of accounts receivable	331,477	408,785	444,500
Collections	(301,047)	(416,918)	(463,555)
Program termInation		0
Ending balance	$ 51,731	$ 21,301	$ 29,434

INVENTORIES, NET (Narrative) (D

INVENTORIES, NET (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2013	Aug. 31, 2014
Inventory Disclosure [Abstract]
Percentage of total net inventories were valued at LIFO	51.00%		44.00%
LIFO inventory reserves	$ 119.5		$ 198.8
Raw materials	61.5		$ 84.3
Effect of LIFO inventory liquidation on income	$ 3.9	$ 3.5

GOODWILL AND OTHER INTANGIBLE59

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Goodwill impairment charges	$ 7,267,000	$ 0	$ 6,400,000
Accumulated goodwill impairment charges	10,404,000	9,808,000	9,495,000
Goodwill	66,383,000	74,319,000	69,579,000
Amortization expense for intangible assets	$ 6,900,000	5,100,000	4,900,000
Favorable land leases
Weighted average remaining useful lives	50 years
Intangible assets excluding favorable land leases
Weighted average remaining useful lives	8 years
Australia
Foreign currency translation gain related to goodwill impairment		600,000
One reporting unit within Americas Fabrication
Goodwill	$ 51,300,000	$ 51,300,000	$ 51,300,000

GOODWILL AND OTHER INTANGIBLE60

GOODWILL AND OTHER INTANGIBLE ASSETS (Changes in the Carrying Amount of Goodwill) (Details) - USD ($)		3 Months Ended	12 Months Ended
		Aug. 31, 2015	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Goodwill [Line Items]
Goodwill		$ 76,787,000	$ 84,127,000	$ 79,074,000	$ 79,074,000	$ 76,787,000	$ 84,127,000	$ 79,074,000
Accumulated impairment losses		(10,404,000)	(9,808,000)	(9,495,000)	(9,495,000)	(10,404,000)	(9,808,000)	(9,495,000)
Goodwill, net						66,383,000	74,319,000	69,579,000
Goodwill [Abstract]
Goodwill, beginning			84,127,000	79,074,000
Acquisition				4,675,000
Translation			(669,000)	65,000
Goodwill reclassified to assets held for sale (1)	[1]		(6,643,000)
Goodwill, ending		76,787,000	76,787,000	84,127,000	79,074,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			(9,808,000)	(9,495,000)
Impairment			(7,267,000)	0	(6,400,000)
Accumulated impairment losses reclassified to assets held for sale (1)	[1]		6,643,000
Accumulated impairment losses, ending		(10,404,000)	(10,404,000)	(9,808,000)	(9,495,000)
Americas Recycling
Goodwill [Line Items]
Goodwill		9,751,000	9,751,000	9,751,000	9,751,000	9,751,000	9,751,000	9,751,000
Accumulated impairment losses		(9,751,000)	(2,484,000)	(2,484,000)	(2,484,000)	(9,751,000)	(2,484,000)	(2,484,000)
Goodwill, net						0	7,267,000	7,267,000
Goodwill [Abstract]
Goodwill, beginning			9,751,000	9,751,000
Acquisition				0
Translation			0	0
Goodwill reclassified to assets held for sale (1)			0
Goodwill, ending		9,751,000	9,751,000	9,751,000	9,751,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			(2,484,000)	(2,484,000)
Impairment			(7,267,000)		(6,400,000)
Accumulated impairment losses reclassified to assets held for sale (1)			0
Accumulated impairment losses, ending		(9,751,000)	(9,751,000)	(2,484,000)	(2,484,000)
Americas Mills
Goodwill [Line Items]
Goodwill		4,970,000	4,970,000	295,000	295,000	4,970,000	4,970,000	295,000
Accumulated impairment losses		0	0	0	0	0	0	0
Goodwill, net						4,970,000	4,970,000	295,000
Goodwill [Abstract]
Goodwill, beginning			4,970,000	295,000
Acquisition				4,675,000
Translation			0	0
Goodwill reclassified to assets held for sale (1)			0
Goodwill, ending		4,970,000	4,970,000	4,970,000	295,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			0	0
Impairment			0
Accumulated impairment losses reclassified to assets held for sale (1)			0
Accumulated impairment losses, ending		0	0	0	0
Americas Fabrication
Goodwill [Line Items]
Goodwill		57,637,000	57,637,000	57,637,000	57,637,000	57,637,000	57,637,000	57,637,000
Accumulated impairment losses		(493,000)	(493,000)	(493,000)	(493,000)	(493,000)	(493,000)	(493,000)
Goodwill, net						57,144,000	57,144,000	57,144,000
Goodwill [Abstract]
Goodwill, beginning			57,637,000	57,637,000
Acquisition				0
Translation			0	0
Goodwill reclassified to assets held for sale (1)			0
Goodwill, ending		57,637,000	57,637,000	57,637,000	57,637,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			(493,000)	(493,000)
Impairment			0
Accumulated impairment losses reclassified to assets held for sale (1)			0
Accumulated impairment losses, ending		(493,000)	(493,000)	(493,000)	(493,000)
International Mill
Goodwill [Line Items]
Goodwill		2,517,000	2,964,000	2,942,000	2,942,000	2,517,000	2,964,000	2,942,000
Accumulated impairment losses		(160,000)	(188,000)	(187,000)	(187,000)	(160,000)	(188,000)	(187,000)
Goodwill, net						2,357,000	2,776,000	2,755,000
Goodwill [Abstract]
Goodwill, beginning			2,964,000	2,942,000
Acquisition				0
Translation			$ (419,000)	21,000
Goodwill reclassified to assets held for sale (1)
Goodwill, ending		2,517,000	$ 2,517,000	2,964,000	2,942,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			(188,000)	(187,000)
Impairment			$ 0
Accumulated impairment losses reclassified to assets held for sale (1)
Accumulated impairment losses, ending		(160,000)	$ (160,000)	(188,000)	(187,000)
International Marketing and Distribution
Goodwill [Line Items]
Goodwill		1,912,000	8,805,000	8,449,000	8,449,000	1,912,000	8,805,000	8,449,000
Accumulated impairment losses		0	(6,643,000)	(6,331,000)	(6,331,000)	0	(6,643,000)	(6,331,000)
Goodwill, net						$ 1,912,000	$ 2,162,000	$ 2,118,000
Goodwill [Abstract]
Goodwill, beginning			8,805,000	8,449,000
Acquisition				0
Translation			(250,000)	44,000
Goodwill reclassified to assets held for sale (1)	[1]		(6,643,000)
Goodwill, ending		1,912,000	1,912,000	8,805,000	8,449,000
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses, beginning			(6,643,000)	(6,331,000)
Impairment			0
Accumulated impairment losses reclassified to assets held for sale (1)	[1]		6,643,000
Accumulated impairment losses, ending		0	0	$ (6,643,000)	$ (6,331,000)
Assets Held-for-sale | International Marketing and Distribution
Goodwill [Abstract]
Goodwill reclassified to assets held for sale (1)			$ (1,600,000)
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment losses reclassified to assets held for sale (1)		$ 1,600,000
[1]	Includes $1.6 million of goodwill and $1.6 million of accumulated goodwill impairment losses related to assets that were sold during the fourth quarter of fiscal 2015

GOODWILL AND OTHER INTANGIBLE61

GOODWILL AND OTHER INTANGIBLE ASSETS (Intangible Assets) (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 47,838	$ 53,835
Accumulated Amortization	31,490	29,601
Net	16,348	24,234
Customer base
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	35,369	38,078
Accumulated Amortization	28,814	25,989
Net	6,555	12,089
Favorable land leases
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,091	11,661
Accumulated Amortization	2,101	2,075
Net	7,990	9,586
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,629	779
Accumulated Amortization	217	40
Net	1,412	739
Brand name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	648	3,216
Accumulated Amortization	306	1,452
Net	342	1,764
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	101	101
Accumulated Amortization	52	45
Net	$ 49	$ 56

GOODWILL AND OTHER INTANGIBLE62

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Future Amortization Expense) (Details) $ in Thousands	Aug. 31, 2015USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	$ 4,136
2,017	550
2,018	1,043
2,019	1,072
2,020	$ 862

LONG-LIVED ASSET IMPAIRMENT A63

LONG-LIVED ASSET IMPAIRMENT AND FACILITY CLOSURE COSTS Long-lived Asset Impairment and Facility Closure Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Restructuring Cost and Reserve [Line Items]
Asset impairment charges from continuing operations	$ 14,610	$ 3,498	$ 17,270
Other operating units
Restructuring Cost and Reserve [Line Items]
Asset impairment charges from continuing operations			$ 4,600

SEVERANCE (Narrative) (Details)

SEVERANCE (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Restructuring and Related Activities [Abstract]
Severance costs	$ 5.8	$ 3.7	$ 6.1
Liability related to termination benefits	$ 1.2	$ 0.9

BUSINESSES HELD FOR SALE, DIS65

BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS (Narrative) (Details) $ in Millions	Aug. 31, 2015USD ($)location	Jul. 31, 2015USD ($)location	Aug. 31, 2015USD ($)location	Aug. 31, 2014USD ($)	Feb. 28, 2014USD ($)	Nov. 30, 2013USD ($)	Nov. 30, 2012USD ($)
Australian Steel Distribution Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of locations sold | location		6
Proceeds from sale of business		$ 26.4
Pre-tax gain		8.1
Currency translation gain		10.1
Impairment charges		$ 3
Number of locations where operations ceased | location			3
Number of locations held for sale | location	1
Howell
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain					$ 23.8
Business divestiture disposal price				$ 1.1		$ 58.5
Escrow receivable	$ 3.2		$ 3.2	$ 3.2
Working capital adjustment					$ 3
Trinecke Zelezarny
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture disposal price							$ 29
Percentage of ownership before transaction							11.00%
Pretax gain on disposal, continuing operations							$ 26.1

BUSINESSES HELD FOR SALE, DIS66

BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS (Components of Assets and Liabilities for Businesses Held for Sale) (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Assets:
Accounts receivable	$ 3,244
Inventories, net	12,514
Other current assets	41
Property, plant and equipment, net of accumulated depreciation and amortization	1,209
Assets of businesses held for sale	17,008	$ 0
Liabilities:
Accounts payable-trade	3,011
Accrued expenses and other payables	2,265
Liabilities of businesses held for sale	$ 5,276

BUSINESSES HELD FOR SALE, DIS67

BUSINESSES HELD FOR SALE, DISCONTINUED OPERATIONS AND DISPOSITIONS (Financial Information for Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnings (loss) before income taxes	$ (20,124)	$ 15,005	$ (26,094)
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 173,065	$ 266,819	$ 446,285

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details)	Jun. 26, 2014USD ($)	May. 31, 2013USD ($)	Aug. 31, 2008USD ($)	Jul. 31, 2007USD ($)	Aug. 31, 2015USD ($)	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)	Aug. 31, 2012USD ($)	Jun. 25, 2014USD ($)
Debt Instrument [Line Items]
Loss on debt extinguishment					$ 0	$ 0	$ 4,758,000
Net proceeds from termination of interest rate swaps								$ 52,700,000
Deferred gain of interest rate swaps					19,200,000	26,800,000
Amortization of interest rate swaps termination gain					7,597,000	7,597,000	12,470,000
Interest costs capitalized							1,000,000
Interest paid					86,700,000	85,600,000	$ 82,500,000
CMCP
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity					56,900,000
Annual total borrowing					49,600,000	111,700,000
Annual total payments					49,600,000	111,700,000
Revolving credit agreement
Debt Instrument [Line Items]
Debt instrument, issuance date	Jun. 26, 2014
Revolving credit facility current borrowing capacity	$ 350,000,000
Revolving credit facility, maturity date	Jun. 26, 2019
Revolving credit facility expired borrowing capacity									$ 300,000,000
Revolving credit facility, maximum borrowing capacity					$ 500,000,000
Minimum interest coverage ratio					2.5
Maximum debt to capitalization ratio					0.60
Minimum liquidity required					$ 150,000,000
Actual interest coverage ratio					5.76
Actual debt to capitalization ratio					0.49
Stand-by letters of credit
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity					$ 50,000,000
Stand by letters of credit outstanding amount					23,400,000	28,100,000
$330 million notes at 4.875% due May 2023
Debt Instrument [Line Items]
Debt instrument, issuance date		May 20, 2013
Debt instrument, face amount		$ 330,000,000			$ 330,000,000
Debt instrument, interest rate, stated percentage		4.875%			4.875%
Proceeds from debt, net of underwriting discounts and issuance costs		$ 325,000,000
$200 million notes at 5.625% due November 2013
Debt Instrument [Line Items]
Debt instrument, face amount		$ 200,000,000
Debt instrument, interest rate, stated percentage		5.625%
Proceeds of 2023 Notes used to repay debt		$ 205,300,000
$500 million notes at 7.35% due August 2018
Debt Instrument [Line Items]
Debt instrument, issuance date			Aug. 4, 2008
Debt instrument, face amount			$ 500,000,000		$ 500,000,000	$ 500,000,000
Debt instrument, interest rate, stated percentage			7.35%		7.35%	7.35%
Debt instrument, maturity date			Aug. 15, 2018
Effective interest rate			6.40%
$400 million notes at 6.50% due July 2017
Debt Instrument [Line Items]
Debt instrument, issuance date				Jul. 17, 2007
Debt instrument, face amount				$ 400,000,000	$ 400,000,000	$ 400,000,000
Debt instrument, interest rate, stated percentage				6.50%	6.50%	6.50%
Debt instrument, maturity date				Jul. 15, 2017
Effective interest rate				5.74%

CREDIT ARRANGEMENTS (Long-term

CREDIT ARRANGEMENTS (Long-term Debt) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	May. 31, 2013	Aug. 31, 2008	Jul. 31, 2007
Debt Instrument [Line Items]
Total long-term debt including current maturities	$ 1,287,992,000	$ 1,289,047,000
Current maturities of long-term debt	10,110,000	8,005,000
Long-term debt	1,277,882,000	1,281,042,000
$400 million notes at 6.50% due July 2017
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000	$ 400,000,000			$ 400,000,000
Debt instrument, interest rate, stated percentage	6.50%	6.50%			6.50%
Debt instrument, maturity date	July 2,017	July 2,017
Weighted average interest rate	5.74%
Total long-term debt including current maturities	$ 405,573,000	$ 408,546,000
$500 million notes at 7.35% due August 2018
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000	$ 500,000,000		$ 500,000,000
Debt instrument, interest rate, stated percentage	7.35%	7.35%		7.35%
Debt instrument, maturity date	August 2,018	August 2,018
Weighted average interest rate	6.40%
Total long-term debt including current maturities	$ 513,680,000	$ 518,305,000
$330 million notes at 4.875% due May 2023
Debt Instrument [Line Items]
Debt instrument, face amount	$ 330,000,000		$ 330,000,000
Debt instrument, interest rate, stated percentage	4.875%		4.875%
Debt instrument, maturity date	May 15, 2023
Weighted average interest rate	4.875%
Total long-term debt including current maturities	$ 330,000,000	330,000,000
Other, including equipment notes
Debt Instrument [Line Items]
Total long-term debt including current maturities	$ 38,739,000	$ 32,196,000

CREDIT ARRANGEMENTS (Scheduled

CREDIT ARRANGEMENTS (Scheduled Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Long-term Debt, Fiscal Year Maturity [Abstract]
2,016	$ 10,110	$ 8,005
2,017	409,870
2,018	509,269
2,019	6,966
2,020	2,443
Thereafter	330,080
Total excluding deferred gain of interest rate swaps	1,268,738
Deferred gain of interest rate swaps	19,254
Total long-term debt including current maturities	$ 1,287,992	$ 1,289,047

DERIVATIVES AND RISK MANAGEME71

DERIVATIVES AND RISK MANAGEMENT (Narrative) (Details) - USD ($) $ in Millions	Aug. 31, 2015	Aug. 31, 2014
Foreign exchange
Derivative [Line Items]
Notional value of contract commitments	$ 390.8	$ 406.6
Commodity
Derivative [Line Items]
Notional value of contract commitments	$ 37.7	$ 59.6

DERIVATIVES AND RISK MANAGEME72

DERIVATIVES AND RISK MANAGEMENT (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	$ 38,863	$ (2,236)	$ 7,554
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	7,746	2,504	2,456
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	4,996	(1,078)	0
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	3,016	473	0
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	23,105	(4,135)	5,089
Other | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	$ 0	$ 0	$ 9

DERIVATIVES AND RISK MANAGEME73

DERIVATIVES AND RISK MANAGEMENT (Derivatives Designated as Fair Value Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives designated as fair value hedging instruments	$ 776	$ (1,372)	$ 2,090
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives designated as fair value hedging instruments	(105)	93	(151)
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives designated as fair value hedging instruments	$ 881	$ (1,465)	$ 2,241

DERIVATIVES AND RISK MANAGEME74

DERIVATIVES AND RISK MANAGEMENT (Hedged Items Designated as Fair Value Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for hedged items designated as fair value hedging instruments	$ (776)	$ 1,378	$ (2,088)
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for hedged items designated as fair value hedging instruments	105	(91)	153
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for hedged items designated as fair value hedging instruments	$ (881)	$ 1,469	$ (2,241)

DERIVATIVES AND RISK MANAGEME75

DERIVATIVES AND RISK MANAGEMENT (Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain, (loss), net of taxes for effective portion of derivatives designated as cash flow hedging instruments recognized in AOCI	$ (2,467)	$ (1,848)	$ 221
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Gain, (loss), net of taxes for effective portion of derivatives designated as cash flow hedging instruments recognized in AOCI	(635)	(54)	(218)
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gain, (loss), net of taxes for effective portion of derivatives designated as cash flow hedging instruments recognized in AOCI	$ (1,832)	$ (1,794)	$ 439

DERIVATIVES AND RISK MANAGEME76

DERIVATIVES AND RISK MANAGEMENT (Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	$ (2,707)	$ (1,505)	$ 465
Income tax (expense) benefit	949	237	(128)
Gain (loss), net of income taxes	(1,758)	(1,268)	337
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	(665)	(160)	(260)
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	(2,774)	(1,717)	18
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	124	(213)	73
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	76	53	17
Interest rate | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes	$ 532	$ 532	$ 617

DERIVATIVES AND RISK MANAGEME77

DERIVATIVES AND RISK MANAGEMENT (Derivative Assets) (Details) - USD ($) $ in Thousands		Aug. 31, 2015	Aug. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	[1]	$ 5,453	$ 2,900
Commodity | Designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		19	42
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		846	869
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		1,500	136
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		$ 3,088	$ 1,853
[1]	* Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

DERIVATIVES AND RISK MANAGEME78

DERIVATIVES AND RISK MANAGEMENT (Derivative Liabilities) (Details) - USD ($) $ in Thousands		Aug. 31, 2015	Aug. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	[1]	$ 2,803	$ 1,503
Commodity | Designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		129	6
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		537	162
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		874	325
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		$ 1,263	$ 1,010
[1]	* Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details)	12 Months Ended
	Aug. 31, 2015levels
Fair Value Disclosures [Abstract]
Number of fair value hierarchy	3

FAIR VALUE (Financial Assets an

FAIR VALUE (Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands		Aug. 31, 2015	Aug. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[1]	$ 5,453	$ 2,900
Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[2]	271,840	200,487
Fair value, measurements, recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[2]	271,840	200,487
Fair value, measurements, recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[2]	0	0
Fair value, measurements, recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[2]	0	0
Fair value, measurements, recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	865	911
Derivative liabilities	[3]	666	168
Fair value, measurements, recurring | Commodity | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	846	911
Derivative liabilities	[3]	537	162
Fair value, measurements, recurring | Commodity | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	19	0
Derivative liabilities	[3]	129	6
Fair value, measurements, recurring | Commodity | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	0	0
Derivative liabilities	[3]	0	0
Fair value, measurements, recurring | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	4,588	1,989
Derivative liabilities	[3]	2,137	1,335
Fair value, measurements, recurring | Foreign exchange | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	0	0
Derivative liabilities	[3]	0	0
Fair value, measurements, recurring | Foreign exchange | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	4,588	1,989
Derivative liabilities	[3]	2,137	1,335
Fair value, measurements, recurring | Foreign exchange | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[3]	0	0
Derivative liabilities	[3]	$ 0	$ 0
[1]	* Derivative assets and liabilities do not include the hedged items designated as fair value hedges.
[2]	(1) Money market investments are short-term in nature, and the value is determined by broker quoted prices in active markets. The investment portfolio mix can change each period based on the Company's assessment of investment options.
[3]	(2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or the New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Further discussion regarding the Company's use of derivative instruments and the classification of the assets and liabilities is included in Note 12, Derivatives and Risk Management.

FAIR VALUE FAIR VALUE (Financia

FAIR VALUE FAIR VALUE (Financial Assets and Liabilities Not Required to Be Measured at Fair Value) (Details) - USD ($) $ in Thousands		Aug. 31, 2015	Aug. 31, 2014
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		$ 1,287,992	$ 1,289,047
$400 million notes at 6.50% due July 2017
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		405,573	408,546
$400 million notes at 6.50% due July 2017 | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]		408,546
$400 million notes at 6.50% due July 2017 | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	419,400	438,200
$500 million notes at 7.35% due August 2018
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		513,680	518,305
$500 million notes at 7.35% due August 2018 | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]		518,305
$500 million notes at 7.35% due August 2018 | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	530,000	567,560
$330 million notes at 4.875% due May 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		330,000	330,000
$330 million notes at 4.875% due May 2023 | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]		330,000
$330 million notes at 4.875% due May 2023 | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	$ 300,630	$ 325,050
[1]	(1) The fair value of the notes is determined based on indicated market values.

INCOME TAX (Narrative) (Details

INCOME TAX (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Effective tax rate from discontinued operations	(2.20%)	56.90%	(5.00%)
Effective income tax rates from continuing operations	34.00%	28.10%	35.60%
Statutory tax rate	35.00%	35.00%	35.00%
Change in valuation allowance	$ 12,305	$ 19,978	$ 5,334
Tax benefit related to investment in subsidiary	0	0	(6,292)
Net Income tax payments (refunds)	61,000	11,800	(7,600)
Indefinitely reinvested foreign earnings	463,200
Unrecognized tax benefits	27,349	27,349	28,551	$ 27,384
Unrecognized tax benefits that would impact effective tax rate	12,000		$ 13,300
Accrued interest and penalties on unrecognized tax benefits	4,200	3,400
Possible decrease in unrecognized tax benefits	17,800
Possible decrease to the provision for income taxes	2,500
State
Net operating losses carry forward	304,500
Foreign
Net operating losses carry forward	219,500
Valuation allowance, net operating loss carryforwards
Valuation allowance against deferred tax assets	$ 10,200	$ 20,900
POLAND
Foreign income tax rate		19.00%

INCOME TAX (Components of Earni

INCOME TAX (Components of Earnings from Continuing Operations before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Income Tax Disclosure [Abstract]
United States	$ 217,008	$ 108,882	$ 147,204
Foreign	27,520	42,933	15,498
Earnings from continuing operations before income taxes	$ 244,528	$ 151,815	$ 162,702

INCOME TAX (Income Taxes Includ

INCOME TAX (Income Taxes Included in the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Current:
United States	$ 53,258	$ 11,798	$ 849
Foreign	3,329	2,965	1,970
State and local	2,830	4,157	1,815
Current taxes	59,417	18,920	4,634
Deferred:
United States	19,269	30,427	45,908
Foreign	722	4,457	4,980
State and local	3,362	(2,536)	3,767
Deferred taxes	23,353	32,348	54,655
Total income taxes on income	82,770	51,268	59,289
Income taxes (benefit) on discontinued operations	(436)	8,544	1,310
Income taxes on continuing operations	$ 83,206	$ 42,724	$ 57,979

INCOME TAX (Reconciliation of F

INCOME TAX (Reconciliation of Federal Statutory Rate to Effective Tax Rate from Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Reconciliation Of Statutory Federal Tax Rate [Line Items]
Income tax expense at statutory rate of 35%	$ 85,585	$ 53,135	$ 56,946
State and local taxes	4,020	88	3,460
Section 199 manufacturing deduction	(4,017)	(1,199)	0
Foreign rate differential	(2,404)	(6,290)	(4,783)
Change in valuation allowance	12,305	19,978	5,334
Deferred compensation	772	(4,164)	(2,890)
Nontaxable foreign interest	(16,712)	(16,506)	(5,445)
Disposition of foreign subsidiaries	0	0	6,292
Australian reorganization	0	0	(7,245)
Other	3,657	(2,318)	6,310
Income tax expense on continuing operations	$ 83,206	$ 42,724	$ 57,979
Effective income tax rates from continuing operations	34.00%	28.10%	35.60%

INCOME TAX (Deferred Tax Assets

INCOME TAX (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Deferred tax assets:
Deferred compensation and employee benefits	$ 48,309	$ 51,956
Net operating losses and credits	78,838	68,736
Reserves and other accrued expenses	21,380	45,246
Allowance for doubtful accounts	3,334	3,760
Intangibles	8,086	6,707
Other	9,562	8,766
Total deferred tax assets	169,509	185,171
Valuation allowance for deferred tax assets	(79,965)	(69,762)
Deferred tax assets, net	89,544	115,409
Deferred tax liabilities:
Fixed assets	102,144	99,016
Inventory	3,774	8,320
Other	3,981	4,066
Total deferred tax liabilities	109,899	111,402
Deferred tax assets, net of deferred tax liabilities	$ (20,355)	$ 4,007

INCOME TAX (Unrecognized Tax Be

INCOME TAX (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Beginning Balance	$ 27,349	$ 28,551	$ 27,384
Change in tax positions of current year	0	0	1,255
Change for tax positions of prior years	0	(1,202)	0
Reductions due to settlements with taxing authorities	0	0	(88)
Unrecognized Tax Benefits, Ending Balance	$ 27,349	$ 27,349	$ 28,551

STOCK-BASED COMPENSATION PLAN88

STOCK-BASED COMPENSATION PLANS (Stock-Based Awards Granted) (Details) - shares	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
StockOptions/SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number	0	0	244,403
Restricted Stock Awards/Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number	987,574	1,191,544	1,149,696
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number	462,496	450,233	640,002

STOCK-BASED COMPENSATION PLAN89

STOCK-BASED COMPENSATION PLANS (Narrative) (Details) $ in Millions	12 Months Ended
	Aug. 31, 2015USD ($)Intervalshares	Aug. 31, 2014USD ($)shares	Aug. 31, 2013USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 23.5	$ 18.1	$ 18.7
Total unrecognized compensation cost | $	$ 21.9
Period of unrecognized compensation to be recognized	3 years
Shares available for future grants	12,744,798
Fair value of shares vested | $	$ 10.2	$ 10	$ 7.2
Certain RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of unrecognized compensation to be recognized	4 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards and performance stock units, granted, shares	987,574	1,191,544	1,149,696
Restricted stock units | United States
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting frequency | Interval	3
Vesting period	3 years
Restricted stock units | Non-U.S.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting frequency | Interval	3
Vesting period	3 years
Performance stock units awarded in fiscal 2013 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	50.00%
Performance stock units awarded in fiscal 2013 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	200.00%
Performance stock units awarded in fiscal 2013 | EBITDA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that performance targets are weighted	75.00%	75.00%	75.00%
Performance stock units awarded in fiscal 2013 | Relative total stockholder return
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that performance targets are weighted	25.00%	25.00%	25.00%
Liability awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards and performance stock units, granted, shares	392,517	390,562
Equivalent number of awards outstanding	898,259
Equivalent number of shares expected to vest	853,345
Stock appreciation rights and stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Stock appreciation rights and stock options, granted, number	0	0	244,403
Equivalent shares of SARs outstanding	842,217
Stock appreciation rights and stock options, contractual term			7 years
Fair value of stock appreciation rights and stock options granted | $			$ 0.6
Cash-settled stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights and stock options, granted, number	0	0	59,399
Equivalent shares of SARs outstanding	72,439
Equivalent number of shares expected to vest	68,817
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares per employee	400
Purchase discount from market price	15.00%	15.00%	15.00%
Vesting in two years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%
Vesting period	4 years
Vesting in three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Vesting period	3 years
Vesting in four years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Vesting period	2 years

STOCK-BASED COMPENSATION PLAN90

STOCK-BASED COMPENSATION PLANS (Restricted Stock Awards and Performance Stock Units Excluding the Cash Component) (Details) - Restricted stock units and performance stock units excluding the cash component - $ / shares	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding number, beginning balance	2,080,580	1,907,418	1,683,572
Granted, number	1,468,696	1,275,355	1,159,451
Vested, number	(712,279)	(737,870)	(537,303)
Forfeited, number	(103,663)	(364,323)	(398,302)
Outstanding number, ending balance	2,733,334	2,080,580	1,907,418
Outstanding, weighted average grant-date fair value, beginning balance	$ 15.37	$ 13.57	$ 13.16
Granted, weighted average grant-date fair value	15.79	16.89	13.60
Vested, weighted average grant-date fair value	14.33	13.55	13.35
Forfeited, weighted average grant-date fair value	15.51	14.94	12.22
Outstanding, weighted average grant-date fair value, ending balance	$ 15.86	$ 15.37	$ 13.57

STOCK-BASED COMPENSATION PLAN91

STOCK-BASED COMPENSATION PLANS (Assumptions Used in Estimating Fair Value of Stock Options and SARs) (Details) - Stock appreciation rights and stock options	12 Months Ended
	Aug. 31, 2013$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.41%
Expected life, years	3 years
Expected volatility	43.00%
Expected dividend yield	3.40%
Weighted average grant-date fair value per share	$ 3.38

STOCK-BASED COMPENSATION PLAN92

STOCK-BASED COMPENSATION PLANS (Combined Activity for Stock Appreciation Rights and Stock Options Excluding the Cash Component) (Details) - Stock appreciation rights and stock options excluding the cash component - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, number, beginning balance	1,437,031	2,653,430	2,930,492
Granted, number			185,004
Exercised, number	(142,604)	(223,473)	(4,105)
Forfeited / expired, number	(452,210)	(992,926)	(457,961)
Outstanding, number, ending balance	842,217	1,437,031	2,653,430
Exercisable, number	789,498
Outstanding, weighted average exercise price, beginning balance	$ 19.85	$ 24.07	$ 24.81
Granted, weighted average exercise price			14.25
Exercised, weighted average exercise price	11.80	11.84	11.60
Forfeited / expired, weighted average exercise price	35.10	32.93	24.91
Outstanding, weighted average exercise price, ending balance	13.04	$ 19.85	$ 24.07
Exercisable, weighted average exercise price	$ 12.95
Outstanding, weighted average remaining contractual life (years)	2 years 8 months 12 days	2 years 8 months 23 days	2 years 9 months 18 days
Exercisable, weighted average remaining contractual life (years)	2 years 7 months 6 days
Outstanding, aggregated intrinsic value	$ 2,243,765	$ 4,384,668	$ 2,867,175
Exercisable, aggregated intrinsic value	$ 2,168,298
Remaining unvested stock appreciation rights and stock options expected to vest, number	50,083
Remaining unvested options and SARs expected to vest, weighted average exercise price	$ 14.27
Intrinsic value of SARs and options exercised		$ 1,700

STOCK-BASED COMPENSATION PLAN93

STOCK-BASED COMPENSATION PLANS (Information Related To Stock Appreciation Rights And Stock Options) (Details) - Stock appreciation rights and stock options	12 Months Ended
	Aug. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, number | shares	842,217
Outstanding, weighted average remaining contractual life (in years)	2 years 8 months 12 days
Outstanding, weighted average exercise price	$ 13.04
Exercisable, number | shares	789,498
Exercisable, weighted average remaining contractual life (in years)	2 years 7 months 6 days
Exercisable, weighted average exercise price	$ 12.95
$11.00-14.68
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices, lower range limit	11
Range of exercise prices, upper range limit	$ 14.68
Outstanding, number | shares	720,511
Outstanding, weighted average remaining contractual life (in years)	2 years 8 months 12 days
Outstanding, weighted average exercise price	$ 12.40
Exercisable, number | shares	671,027
Exercisable, weighted average remaining contractual life (in years)	2 years 7 months 6 days
Exercisable, weighted average exercise price	$ 12.27
$16.54-16.83
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices, lower range limit	16.54
Range of exercise prices, upper range limit	$ 16.83
Outstanding, number | shares	121,706
Outstanding, weighted average remaining contractual life (in years)	2 years 6 months
Outstanding, weighted average exercise price	$ 16.81
Exercisable, number | shares	118,471
Exercisable, weighted average remaining contractual life (in years)	2 years 6 months
Exercisable, weighted average exercise price	$ 16.81

STOCK-BASED COMPENSATION PLAN94

STOCK-BASED COMPENSATION PLANS (Yearly Activity of Stock Purchase Plan) (Details) - $ / shares	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	12,744,798
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subscribed	198,710	228,780	281,460
Price per share	$ 13.73	$ 16.97	$ 12.61
Shares purchased	172,170	221,570	211,580
Price per share	$ 16.96	$ 12.61	$ 11.85
Shares available for future issuance	3,810,924

CAPITAL STOCK (Narrative) (Deta

CAPITAL STOCK (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Oct. 27, 2014
Stockholders' Equity Note [Abstract]
Share repurchase program, authorized amount			$ 100,000,000
Treasury stock, shares, purchased	2,902,218	0
Share repurchase program, remaining authorized repurchase amount	$ 58,200,000
Preferred stock, par value per share	$ 1
Preferred stock, shares authorized	2,000,000
Preferred stock, shares outstanding	0

EMPLOYEES' RETIREMENT PLANS (Na

EMPLOYEES' RETIREMENT PLANS (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
BRP plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation liability	$ 72.3	$ 78
Current value of segregated assets	66.6	69.5
Net holding gain on segregated assets		13.3	$ 9.9
Defined benefit plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Company expenses for defined benefit plans	0.7	2	3.6
Liability related to unfunded status of defined benefit plans	1.5	2.4
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Compensation expense under defined contribution profit sharing and savings plan and BRP Plan	$ 9.7	$ 19.3	$ 15.9

COMMITMENTS AND CONTINGENCIES97

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2014USD ($)	May. 31, 2015USD ($)	Aug. 31, 2015USD ($)	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)	Sep. 24, 2008entities
Loss Contingencies [Line Items]
Total rental expense			$ 52.8	$ 46.8	$ 46.6
Gain on contract termination		$ 45.5
Total environmental liabilities			4.3	6.2
Long-term environmental liabilities			2.4	2.3
Federal court
Loss Contingencies [Line Items]
Number of steel manufacturing companies | entities						9
Litigation settlement amount	$ 4
CERCLA sites
Loss Contingencies [Line Items]
Total environmental liabilities			$ 1	$ 0.7

COMMITMENTS AND CONTINGENCIES98

COMMITMENTS AND CONTINGENCIES (Minimum Lease Commitments Payable for Noncancelable Operating Leases) (Details) $ in Thousands	Aug. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 30,390
2,017	25,648
2,018	18,949
2,019	14,785
2,020	9,119
Thereafter	19,236
Total	$ 118,127

EARNINGS PER SHARE ATTRIBUTAB99

EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Calculations of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Earnings Per Share [Abstract]
Earnings from continuing operations	$ 161,322	$ 109,091	$ 104,723
Basic earnings per share:
Shares outstanding for basic earnings per share	116,527,265	117,496,270	116,677,836
Basic earnings per share from continuing operations attributable to CMC (USD per share)	$ 1.39	$ 0.93	$ 0.90
Diluted earnings per share:
Shares outstanding for basic earnings per share	116,527,265	117,496,270	116,677,836
Effect of dilutive securities:
Stock-based incentive/purchase plans	1,422,633	1,110,836	875,116
Shares outstanding for diluted earnings per share	117,949,898	118,607,106	117,552,952
Diluted earnings per share from continuing operations attributable to CMC (USD per share)	$ 1.37	$ 0.92	$ 0.89
Anti-dilutive shares not included above	371,273	679,916	1,492,206

ACCRUED EXPENSES AND OTHER P100

ACCRUED EXPENSES AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Payables and Accruals [Abstract]
Salaries and incentive compensation	$ 97,968	$ 115,840
Taxes other than income taxes	41,433	39,998
Advance billings on contracts	30,412	41,645
Insurance	23,123	25,239
Inventory	$ 7,113	$ 17,181

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details) $ in Thousands	12 Months Ended
	Aug. 31, 2015USD ($)segments	Aug. 31, 2014USD ($)	Aug. 31, 2013USD ($)
Number of reporting segments | segments	5
Total assets	$ 3,372,302	$ 3,688,520
Discontinued operations
Total assets	$ 31,500	$ 151,100	$ 163,100

BUSINESS SEGMENTS (Summary of C

BUSINESS SEGMENTS (Summary of Certain Financial Information from Continuing Operations by Reportable Segment) (Details) - USD ($) $ in Thousands		3 Months Ended																12 Months Ended
		Aug. 31, 2015		May. 31, 2015	[1]	Feb. 28, 2015	[1]	Nov. 30, 2014	[1]	Aug. 31, 2014		May. 31, 2014	[1]	Feb. 28, 2014	[1]	Nov. 30, 2013	[1]	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Segment Reporting Information [Line Items]
Net sales		$ 1,411,496	[1]	$ 1,506,002		$ 1,391,117		$ 1,679,990		$ 1,837,309	[1]	$ 1,738,593		$ 1,597,461		$ 1,617,075		$ 5,988,605	$ 6,790,438	$ 6,601,070
Interest expense																		77,760	77,037	68,439
Capital expenditures																		119,580	101,749	89,035
Total assets		3,372,302								3,688,520								3,372,302	3,688,520
Continuing Operations
Segment Reporting Information [Line Items]
Net sales																		5,988,605	6,790,438	6,601,070
Americas Recycling
Segment Reporting Information [Line Items]
Net sales																		887,068	1,176,907	1,225,604
Americas Mills
Segment Reporting Information [Line Items]
Net sales																		1,048,063	1,198,249	1,060,337
Americas Fabrication
Segment Reporting Information [Line Items]
Net sales																		1,612,084	1,523,573	1,427,785
International Mill
Segment Reporting Information [Line Items]
Net sales																		626,219	822,224	819,889
International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales																		1,814,319	2,055,202	2,055,623
Corporate
Segment Reporting Information [Line Items]
Net sales																		852	14,283	11,832
Eliminations
Segment Reporting Information [Line Items]
Net sales																		0	0	0
Segments | Continuing Operations
Segment Reporting Information [Line Items]
Net sales																		5,988,605	6,790,438	6,601,070
Adjusted operating profit (loss)																		323,835	232,687	234,148
Interest expense	[2]																	77,760	77,037	68,439
Capital expenditures	[3]																	115,800	101,149	87,653
Depreciation and amortization	[4]																	142,342	137,527	135,401
Total assets	[5]	3,340,777								3,537,380								3,340,777	3,537,380	3,331,699
Segments | Americas Recycling
Segment Reporting Information [Line Items]
Net sales																		1,022,621	1,367,070	1,391,749
Adjusted operating profit (loss)																		(18,637)	(3,222)	3,170
Interest expense	[2]																	2,628	2,700	9
Capital expenditures	[3]																	12,811	16,771	21,261
Depreciation and amortization	[4]																	24,954	16,424	13,453
Total assets	[5]	251,793								296,564								251,793	296,564	309,599
Segments | Americas Mills
Segment Reporting Information [Line Items]
Net sales																		1,841,812	1,991,334	1,819,520
Adjusted operating profit (loss)																		304,272	247,703	204,333
Interest expense	[2]																	4,207	7,059	(101)
Capital expenditures	[3]																	67,203	31,781	37,216
Depreciation and amortization	[4]																	46,780	45,392	42,925
Total assets	[5]	672,322								647,437								672,322	647,437	598,478
Segments | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales																		1,624,238	1,537,485	1,442,691
Adjusted operating profit (loss)																		39,183	6,196	28,033
Interest expense	[2]																	8,864	10,222	83
Capital expenditures	[3]																	14,883	13,798	5,605
Depreciation and amortization	[4]																	19,094	19,192	22,302
Total assets	[5]	687,884								691,765								687,884	691,765	631,510
Segments | International Mill
Segment Reporting Information [Line Items]
Net sales																		626,251	823,193	826,044
Adjusted operating profit (loss)																		17,555	30,632	890
Interest expense	[2]																	2,620	4,608	992
Capital expenditures	[3]																	15,413	30,770	15,155
Depreciation and amortization	[4]																	28,211	32,776	33,238
Total assets	[5]	403,706								466,449								403,706	466,449	487,613
Segments | International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales																		1,897,617	2,120,537	2,094,177
Adjusted operating profit (loss)																		57,885	24,027	63,327
Interest expense	[2]																	9,096	6,924	3,200
Capital expenditures	[3]																	296	1,122	864
Depreciation and amortization	[4]																	2,551	2,500	2,387
Total assets	[5]	802,007								803,263								802,007	803,263	724,963
Segments | Corporate
Segment Reporting Information [Line Items]
Net sales																		852	14,283	11,832
Adjusted operating profit (loss)																		(77,832)	(72,347)	(66,453)
Interest expense	[2]																	50,345	45,524	64,256
Capital expenditures	[3]																	5,194	6,907	7,552
Depreciation and amortization	[4]																	20,752	21,243	21,096
Total assets	[5]	1,075,642								1,100,995								1,075,642	1,100,995	1,075,594
Segments | Eliminations
Segment Reporting Information [Line Items]
Net sales																		(1,024,786)	(1,063,464)	(984,943)
Adjusted operating profit (loss)																		1,409	(302)	848
Interest expense	[2]																	0	0	0
Capital expenditures	[3]																	0	0	0
Depreciation and amortization	[4]																	0	0	0
Total assets	[5]	$ (552,577)								$ (469,093)								(552,577)	(469,093)	(496,058)
Intersegment | Continuing Operations
Segment Reporting Information [Line Items]
Net sales																		0	0	0
Intersegment | Americas Recycling
Segment Reporting Information [Line Items]
Net sales																		135,553	190,163	166,145
Intersegment | Americas Mills
Segment Reporting Information [Line Items]
Net sales																		793,749	793,085	759,183
Intersegment | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales																		12,154	13,912	14,906
Intersegment | International Mill
Segment Reporting Information [Line Items]
Net sales																		32	969	6,155
Intersegment | International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales																		83,298	65,335	38,554
Intersegment | Corporate
Segment Reporting Information [Line Items]
Net sales																		0	0	0
Intersegment | Eliminations
Segment Reporting Information [Line Items]
Net sales																		$ (1,024,786)	$ (1,063,464)	$ (984,943)
[1]	Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions.
[2]	Includes intercompany interest expense (income) in the segments and is all eliminated within Corporate.
[3]	Excludes capital expenditures from discontinued operations that were immaterial for the year ended August 31, 2015, 2014 and 2013.
[4]	Includes asset impairment charges.
[5]	Excludes total assets from discontinued operations of $31.5 million at August 31, 2015, $151.1 million at August 31, 2014 and $163.1 million at August 31, 2013.

BUSINESS SEGMENTS (Reconciliati

BUSINESS SEGMENTS (Reconciliations of Earnings from Continuing Operations to Adjusted Operating Profit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Earnings from continuing operations	$ 161,322	$ 109,091	$ 104,723
Income taxes	83,206	42,724	57,979
Interest expense	77,760	77,037	68,439
Discounts on sales of accounts receivable	2,400	3,900	3,900
Continuing operations
Discounts on sales of accounts receivable	1,547	3,835	3,007
Adjusted operating profit (loss) from continuing operations	$ 323,835	$ 232,687	$ 234,148

BUSINESS SEGMENTS (External Net

BUSINESS SEGMENTS (External Net Sales from Continuing Operations by Major Product) (Details) - USD ($) $ in Thousands	3 Months Ended																12 Months Ended
	Aug. 31, 2015	[1]	May. 31, 2015	[1]	Feb. 28, 2015	[1]	Nov. 30, 2014	[1]	Aug. 31, 2014	[1]	May. 31, 2014	[1]	Feb. 28, 2014	[1]	Nov. 30, 2013	[1]	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	$ 1,411,496		$ 1,506,002		$ 1,391,117		$ 1,679,990		$ 1,837,309		$ 1,738,593		$ 1,597,461		$ 1,617,075		$ 5,988,605	$ 6,790,438	$ 6,601,070
Steel products
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	4,084,092	4,500,093	4,033,286
Industrial materials
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	566,323	659,251	928,472
Nonferrous scrap
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	536,856	639,961	682,611
Ferrous scrap
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	428,192	659,578	646,263
Construction materials
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	220,232	199,154	189,046
Nonferrous products
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	10,443	8,761	5,674
Other
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales																	$ 142,467	$ 123,640	$ 115,718
[1]	Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions.

BUSINESS SEGMENTS (External 105

BUSINESS SEGMENTS (External Net Sales from Continuing Operations by Geographic Area) (Details) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Aug. 31, 2015

[1]

May. 31, 2015

[1]

Feb. 28, 2015

[1]

Nov. 30, 2014

[1]

Aug. 31, 2014

[1]

May. 31, 2014

[1]

Feb. 28, 2014

[1]

Nov. 30, 2013

[1]

Aug. 31, 2015

Aug. 31, 2014

Aug. 31, 2013

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

$ 1,411,496

$ 1,506,002

$ 1,391,117

$ 1,679,990

$ 1,837,309

$ 1,738,593

$ 1,597,461

$ 1,617,075

$ 5,988,605

$ 6,790,438

$ 6,601,070

United States

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

4,199,789

4,510,080

4,107,231

Europe

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

1,006,204

1,215,150

1,108,196

Asia

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

578,755

786,512

1,094,458

Australia/New Zealand

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

121,403

175,756

199,603

Other

Revenues from External Customers and Long-Lived Assets [Line Items]

Net sales

$ 82,454

$ 102,940

$ 91,582

[1]

Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions.

BUSINESS SEGMENTS (Long-Lived A

BUSINESS SEGMENTS (Long-Lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 1,065,201	$ 1,134,729	$ 1,128,606
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	866,421	871,326	868,643
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	189,796	243,280	239,899
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	7,692	8,814	7,618
Australia/New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 1,292	$ 11,309	$ 12,446

QUARTERLY FINANCIAL DATA (UN107

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended																12 Months Ended
		Aug. 31, 2015		May. 31, 2015		Feb. 28, 2015		Nov. 30, 2014		Aug. 31, 2014		May. 31, 2014		Feb. 28, 2014		Nov. 30, 2013		Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Net sales		$ 1,411,496	[1]	$ 1,506,002	[1]	$ 1,391,117	[1]	$ 1,679,990	[1]	$ 1,837,309	[1]	$ 1,738,593	[1]	$ 1,597,461	[1]	$ 1,617,075	[1]	$ 5,988,605	$ 6,790,438	$ 6,601,070
Gross profit	[1]	131,809		235,958		221,414		186,221		183,452		178,419		142,356		176,873
Net earnings attributable to CMC		$ (5,751)		$ 56,681		$ 54,451		$ 36,253		$ 34,926		$ 23,563		$ 11,143		$ 45,919		$ 141,634	$ 115,551	$ 77,315
Basic EPS attributable to CMC		$ (0.05)		$ 0.49		$ 0.47		$ 0.31		$ 0.29		$ 0.20		$ 0.09		$ 0.39		$ 1.22	$ 0.98	$ 0.66
Diluted EPS attributable to CMC		$ (0.05)		$ 0.49		$ 0.46		$ 0.30		$ 0.29		$ 0.20		$ 0.09		$ 0.39		$ 1.20	$ 0.97	$ 0.66
Pre-tax LIFO income (expense)		$ (36,500)		$ 37,100		$ 72,500		$ 6,200										$ 79,300
[1]	Excludes divisions classified as discontinued operations. See Note 10, Businesses Held for Sale, Discontinued Operations and Dispositions.

SCHEDULE II _ VALUATION AND 108

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Thousands		12 Months Ended
		Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		$ 5,908	$ 10,042	$ 9,480
Additions, Charged to Cost and Expense		4,142	647	4,980
Additions, Charged to Other Accounts	[1]	306	842	193
Deductions, Charged to Cost and Expense		(661)	(1,544)	(550)
Deductions, Charged to Other Accounts	[2]	(662)	(4,079)	(4,061)
Balance at End of Period		9,033	5,908	10,042
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		69,762	48,837	25,779
Additions, Charged to Cost and Expense		$ 17,746	$ 24,964	$ 25,119
Additions, Charged to Other Accounts
Deductions, Charged to Cost and Expense		$ (7,543)	$ (4,039)	$ (2,061)
Deductions, Charged to Other Accounts
Balance at End of Period		$ 79,965	$ 69,762	$ 48,837
[1]	Recoveries and translation adjustments.
[2]	Uncollectable accounts charged to the allowance. For the years ended August 31, 2015, 2014 and 2013, $(1,695), $(1,010) and $(1,163) were reclassified to the fair value of the deferred purchase price under our sale of receivables program, respectively.

SCHEDULE II _ VALUATION AND 109

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2013
Allowance for doubtful accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Amounts reclassified to the fair value of the deferred purchase price	$ (1,695)	$ (1,010)	$ (1,163)