Commercial Metals (CMC) 10-Q 28 Mar 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Feb. 28, 2017	Mar. 23, 2017
Document And Entity Information [Abstract]
Trading Symbol	CMC
Entity Registrant Name	COMMERCIAL METALS CO
Entity Central Index Key	22,444
Document Type	10-Q
Document Period End Date	Feb. 28, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--08-31
Entity Tax Identification Number	750,725,338
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		115,778,772

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Income Statement [Abstract]
Net sales	$ 1,149,621	$ 1,019,697
Costs and expenses:
Cost of goods sold	990,431	884,876	$ 1,933,502	$ 1,882,118
Selling, general and administrative expenses	107,119	93,918	215,986	195,826
Interest expense	12,442	16,625	25,740	34,929
Loss on debt extinguishment	0	11,365	0	11,365
Total costs and expenses	1,109,992	1,006,784	2,175,228	2,124,238
Earnings from continuing operations before income taxes	39,629	12,913	49,456	50,318
Income taxes	9,990	2,064	12,643	13,836
Earnings from continuing operations	29,639	10,849	36,813	36,482
Earnings (loss) from discontinued operations before income taxes (benefit)	726	(446)	(191)	(1,018)
Income taxes (benefit)	33	(99)	15	(101)
Earnings (loss) from discontinued operations	693	(347)	(206)	(917)
Net earnings	30,332	10,502	36,607	35,565
Less net earnings attributable to noncontrolling interests	0	0	0	0
Net earnings attributable to CMC	$ 30,332	$ 10,502	$ 36,607	$ 35,565
Basic earnings (loss) per share attributable to CMC:
Earnings from continuing operations (in USD per share)	$ 0.25	$ 0.09	$ 0.32	$ 0.32
Earnings (loss) from discontinued operations (in USD per share)	0.01	0	0	(0.01)
Net earnings (in USD per share)	0.26	0.09	0.32	0.31
Diluted earnings (loss) per share attributable to CMC:
Earnings from continuing operations (in USD per share)	0.25	0.09	0.31	0.31
Earnings (loss) from discontinued operations (in USD per share)	0.01	0	0	(0.01)
Net earnings (in USD per share)	0.26	0.09	0.31	0.30
Cash dividends per share (in USD per share)	$ 0.12	$ 0.12	$ 0.24	$ 0.24
Average basic shares outstanding	115,736,369	115,429,550	115,415,662	115,725,896
Average diluted shares outstanding	117,120,208	116,507,591	117,007,958	117,002,822

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 30,332	$ 10,502	$ 36,607	$ 35,565
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustment	9,551	4,211	(11,980)	(17,784)
Net unrealized gain (loss) on derivatives:
Unrealized holding gain, net of income taxes of $106, $221, $116 and $74	310	494	442	485
Reclassification for gain included in net earnings, net of income taxes of $(64), $(28), $(111) and $(77)	(330)	(56)	(520)	(174)
Net unrealized gain (loss) on derivatives, net of income taxes of $42, $193, $5 and $(3)	(20)	438	(78)	311
Defined benefit obligation:
Amortization of prior services, net of income taxes of $(2), $0, $(4) and $(1)	(9)	(2)	(18)	(3)
Defined benefit obligation, net of income taxes of $(2), $0, $(4) and $(1)	(9)	(2)	(18)	(3)
Other comprehensive income (loss)	9,522	4,647	(12,076)	(17,476)
Comprehensive income	$ 39,854	$ 15,149	$ 24,531	$ 18,089

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Statement of Comprehensive Income [Abstract]
Income taxes, unrealized holding gain (loss) on derivatives	$ 106	$ 221	$ 116	$ 74
Income taxes, reclassification for loss (gain) on derivatives included in net earnings	(64)	(28)	(111)	(77)
Income taxes, net unrealized loss on derivatives	42	193	5	(3)
Income taxes, net gain of defined benefit obligation	0	0	0	0
Income taxes, amortization of prior services of defined benefit obligation	(2)	0	(4)	(1)
Income taxes, defined benefit obligation	$ (2)	$ 0	$ (4)	$ (1)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Feb. 28, 2017	Aug. 31, 2016
Current assets:
Cash and cash equivalents	$ 395,546	$ 517,544
Accounts receivable (less allowance for doubtful accounts of $5,283 and $6,427)	774,286	765,784
Inventories, net	720,786	652,754
Other current assets	96,422	112,043
Total current assets	1,987,040	2,048,125
Property, plant and equipment:
Land	76,556	70,291
Buildings and improvements	489,384	487,305
Equipment	1,654,942	1,655,909
Construction in process	186,759	111,156
Property, plant and equipment, Gross	2,407,641	2,324,661
Less accumulated depreciation and amortization	(1,467,297)	(1,429,612)
Property, plant and equipment, Net	940,344	895,049
Goodwill	66,530	66,373
Other noncurrent assets	137,919	121,322
Total assets	3,131,833	3,130,869
Current liabilities:
Accounts payable-trade	307,488	243,532
Accounts payable-documentary letters of credit	0	5
Accrued expenses and other payables	220,433	264,112
Current maturities of long-term debt	312,200	313,469
Total current liabilities	840,121	821,118
Deferred income taxes	55,625	63,021
Other long-term liabilities	121,930	121,351
Long-term debt	752,137	757,948
Total liabilities	1,769,813	1,763,438
Commitments and contingencies (Note 14)
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 115,778,772 and 114,635,596 shares, respectively	1,290	1,290
Additional paid-in capital	336,018	358,745
Accumulated other comprehensive loss	(124,990)	(112,914)
Retained earnings	1,381,869	1,372,988
Less treasury stock, 13,281,892 and 14,425,068 shares at cost	(232,339)	(252,837)
Stockholders' equity attributable to CMC	1,361,848	1,367,272
Stockholders' equity attributable to noncontrolling interests	172	159
Total stockholders' equity	1,362,020	1,367,431
Total liabilities and stockholders' equity	$ 3,131,833	$ 3,130,869

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2017	Aug. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,283	$ 6,427
Common stock, par value (in USD per share)	$ 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	115,778,772	114,635,596
Treasury stock, shares	13,281,892	14,425,068

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Cash flows from (used by) operating activities:
Net earnings	$ 36,607	$ 35,565
Adjustments to reconcile net earnings to cash flows from (used by) operating activities:
Depreciation and amortization	60,789	63,541
Stock-based compensation	16,156	13,106
Deferred income taxes	(9,380)	(4,614)
Amortization of interest rate swaps termination gain	(3,798)	(3,798)
Provision for losses on receivables, net	1,381	2,740
Write-down of inventories	1,205	7,949
Asset impairment	553	0
Net gain on sales of assets and other	(195)	(2,767)
Loss on debt extinguishment	0	11,365
Tax benefit from stock plans	0	(55)
Changes in operating assets and liabilities:
Accounts receivable	2,162	190,622
Proceeds (payments) on sales of accounts receivable programs, net	(5,102)	11,504
Inventories	(68,456)	111,544
Accounts payable, accrued expenses and other payables	9,374	(115,002)
Changes in other operating assets and liabilities	(29,313)	11,110
Net cash flows from operating activities	11,983	332,810
Cash flows from (used by) investing activities:
Capital expenditures	(90,808)	(62,437)
Acquisitions, net of cash acquired	(25,366)	0
Decrease in restricted cash	21,033	(49,145)
Proceeds from the sale of property, plant and equipment and other	700	3,060
Proceeds from the sale of subsidiaries	524	0
Net cash flows used by investing activities	(93,917)	(108,522)
Cash flows from (used by) financing activities:
Cash dividends	(27,726)	(27,839)
Repayments on long-term debt	(6,148)	(205,816)
Stock issued under incentive and purchase plans, net of forfeitures	(5,408)	(5,671)
Increase (decrease) in documentary letters of credit, net	(5)	(25,815)
Contribution from noncontrolling interests	13	29
Short-term borrowings, net change	0	(20,090)
Treasury stock acquired	0	(30,595)
Debt extinguishment costs	0	(11,013)
Decrease in restricted cash	0	1
Tax benefit from stock plans	0	55
Net cash flows used by financing activities	(39,274)	(326,754)
Effect of exchange rate changes on cash	(790)	(1,179)
Increase (decrease) in cash and cash equivalents	(121,998)	(103,645)
Cash and cash equivalents at beginning of year	517,544	485,323
Cash and cash equivalents at end of period	395,546	381,678
Noncash activities:
Liabilities related to additions of property, plant and equipment	$ 35,184	$ 2,706

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - 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, 2015	$ 1,381,374	$ 1,290	$ 365,863	$ (113,535)	$ 1,373,568	$ (245,961)	$ 149
Beginning balance, shares at Aug. 31, 2015		129,060,664
Beginning balance, treasury stock, shares at Aug. 31, 2015						(13,425,326)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	35,565				35,565
Other comprehensive income (loss)	(17,476)			(17,476)
Cash dividends ($0.24 per share)	(27,839)				(27,839)
Treasury stock acquired	(30,595)					$ (30,595)
Treasury stock acquired, shares						(2,255,069)
Issuance of stock under incentive and purchase plans, net of forfeitures	(5,671)		(27,640)			$ 21,969
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,155,466
Stock-based compensation	10,321		10,321
Tax benefit from stock plans	55		55
Contribution of noncontrolling interest	29		19				10
Reclassification of share-based liability awards	3,035		3,035
Ending balance at Feb. 29, 2016	1,348,798	$ 1,290	351,653	(131,011)	1,381,294	$ (254,587)	159
Ending balance, shares at Feb. 29, 2016		129,060,664
Ending balance, treasury stock, shares at Feb. 29, 2016						(14,524,929)
Beginning balance at Aug. 31, 2016	$ 1,367,431	$ 1,290	358,745	(112,914)	1,372,988	$ (252,837)	159
Beginning balance, shares at Aug. 31, 2016	129,060,664	129,060,664
Beginning balance, treasury stock, shares at Aug. 31, 2016	(14,425,068)					(14,425,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 36,607				36,607
Other comprehensive income (loss)	(12,076)			(12,076)
Cash dividends ($0.24 per share)	(27,726)				(27,726)
Issuance of stock under incentive and purchase plans, net of forfeitures	(5,757)		(26,255)			$ 20,498
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,143,176
Stock-based compensation	7,187		7,187
Contribution of noncontrolling interest	13						13
Reclassification of share-based liability awards	1,780		1,780
Reclassification of share-based equity awards	(5,439)		(5,439)
Ending balance at Feb. 28, 2017	$ 1,362,020	$ 1,290	$ 336,018	$ (124,990)	$ 1,381,869	$ (232,339)	$ 172
Ending balance, shares at Feb. 28, 2017	129,060,664	129,060,664
Ending balance, treasury stock, shares at Feb. 28, 2017	(13,281,892)					(13,281,892)

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in USD per share)	$ 0.12	$ 0.12	$ 0.24	$ 0.24

ACCOUNTING POLICIES

ACCOUNTING POLICIES	6 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Accounting policies	NOTE 1. ACCOUNTING POLICIES Accounting Principles The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") on a basis consistent with that used in the Annual Report on Form 10-K for the fiscal year ended August 31, 2016 filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the Securities and Exchange Commission ("SEC") and include all normal recurring adjustments necessary to present fairly the unaudited condensed consolidated balance sheets and the unaudited condensed consolidated statements of earnings, comprehensive income, cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended August 31, 2016 . The results of operations for the three and six month periods are not necessarily indicative of the results to be expected for the full year. Recently Adopted Accounting Pronouncements In the second quarter of fiscal 2017, the Company adopted Accounting Standards Update ("ASU") 2016-09, Compensation - Stock Compensation (Topic 718), issued by the Financial Accounting Standards Board (the "FASB") requiring that the Company recognize all excess tax benefits and tax deficiencies as an income tax expense or benefit when stock awards vest or are settled. Additionally, the guidance allows for an increase in the threshold for net share settlement up to the maximum statutory rate in employees’ applicable jurisdictions without triggering liability classification. The adoption of this guidance had an immaterial impact on income taxes on the Company’s unaudited condensed consolidated statements of earnings for the three and six months ended February 28, 2017 . Additionally, the Company has elected to continue to estimate forfeitures. As such, this adoption has no cumulative effect on retained earnings. The Company elected to apply the presentation requirements for cash flows related to excess tax benefits prospectively, which had an immaterial impact on both net cash from operating activities and net cash used in financing activities for the six months ended February 28, 2017 . The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact on any of the periods presented on the Company’s consolidated statements of cash flows since such cash flows have historically been presented as a financing activity. In the first quarter of fiscal 2017, the Company adopted ASU 2015-16, Business Combinations (Topic 805), issued by the FASB requiring the acquirer in a business combination to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), issued by the FASB requiring an entity to account for fees paid in a cloud computing arrangement as a license of internal-use software. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-02, Consolidation (Topic 810), issued by the FASB modifying the evaluation of whether limited partnerships and similar legal entities are voting interest entities ("VIEs"). The guidance was adopted on a retrospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), issued by the FASB eliminating the concept of extraordinary items. Under this guidance, an entity is no longer allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2014-13, Consolidation (Topic 810), issued by the FASB providing a measurement alternative to the existing fair value measurement guidance. When the measurement alternative is elected, the financial assets and liabilities are measured using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The guidance was adopted on a retrospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2014-12, Compensation - Stock Compensation (Topic 718), issued by the FASB 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 guidance was followed by the Company prior to its adoption and therefore had no impact on the Company's consolidated financial statements upon adoption. Recently Issued Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 805). The standard simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. This guidance is effective for annual periods or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The standard must be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company plans to early adopt the standard during fiscal 2017. The adoption of this guidance is not expected to have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business. The standard clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public companies, this standard is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The standard must be applied prospectively on or after the effective date. Early application of the amendments is allowed with certain restrictions. The Company is currently evaluating the effect that this standard will have on its consolidated financial statements as well as determining the Company's planned adoption date. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2017 with early adoption permitted. The provisions of this guidance are to be applied using a retrospective approach, which requires application of the guidance for all periods presented. The Company is currently evaluating the impact of this guidance on its consolidated financial statements as well as determining the Company's planned adoption date. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), requiring a lessee to recognize a right-of-use asset and a lease liability on its balance sheet for all leases with terms of twelve months or longer. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2018 and will be effective for the Company beginning September 1, 2019, at which point the Company plans to adopt the standard. The provisions of this guidance are to be applied using a modified retrospective approach, with elective reliefs, which requires application of the guidance for all periods presented. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), and has modified the standard thereafter. Under the standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2017 and will be effective for the Company beginning September 1, 2018, at which point the Company plans to adopt the standard. The standard permits the use of either the retrospective or cumulative effect transition method. The Company currently expects to adopt the standard using the cumulative effect transition method. Upon initial assessment, the Company does not believe the standard will have a material impact on its results of operations or cash flows; however, the Company is in the process of examining contract specific terms within each segment. In addition, the standard includes expanded disclosure requirements, which the Company continues to analyze. As part of the overall evaluation of the standard, the Company is also assessing potential changes to its accounting policies, practices and internal controls over financial reporting to support the standard.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Feb. 28, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income (loss)	NOTE 2. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"), net of income taxes: Three Months Ended February 28, 2017 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2016 $ (133,786 ) $ 2,128 $ (2,854 ) $ (134,512 ) Other comprehensive income before reclassifications 9,551 310 — 9,861 Amounts reclassified from AOCI — (330 ) (9 ) (339 ) Net other comprehensive income (loss) 9,551 (20 ) (9 ) 9,522 Balance, February 28, 2017 $ (124,235 ) $ 2,108 $ (2,863 ) $ (124,990 ) Six Months Ended February 28, 2017 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2016 $ (112,255 ) $ 2,186 $ (2,845 ) $ (112,914 ) Other comprehensive income (loss) before reclassifications (11,980 ) 442 — (11,538 ) Amounts reclassified from AOCI — (520 ) (18 ) (538 ) Net other comprehensive loss (11,980 ) (78 ) (18 ) (12,076 ) Balance, February 28, 2017 $ (124,235 ) $ 2,108 $ (2,863 ) $ (124,990 ) Three Months Ended February 29, 2016 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2015 $ (135,076 ) $ 2,178 $ (2,760 ) $ (135,658 ) Other comprehensive income before reclassifications 4,211 494 — 4,705 Amounts reclassified from AOCI — (56 ) (2 ) (58 ) Net other comprehensive income (loss) 4,211 438 (2 ) 4,647 Balance, February 29, 2016 $ (130,865 ) $ 2,616 $ (2,762 ) $ (131,011 ) Six Months Ended February 29, 2016 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2015 $ (113,081 ) $ 2,305 $ (2,759 ) $ (113,535 ) Other comprehensive income (loss) before reclassifications (17,784 ) 485 — (17,299 ) Amounts reclassified from AOCI — (174 ) (3 ) (177 ) Net other comprehensive income (loss) (17,784 ) 311 (3 ) (17,476 ) Balance, February 29, 2016 $ (130,865 ) $ 2,616 $ (2,762 ) $ (131,011 ) The significant items reclassified out of AOCI and the corresponding line items in the unaudited condensed consolidated statements of earnings to which the items were reclassified were as follows: Three Months Ended Six Months Ended Components of AOCI (in thousands) Location February 28, February 29, February 28, February 29, Unrealized gain (loss) on derivatives: Commodity Cost of goods sold $ (33 ) $ (59 ) $ (125 ) $ (110 ) Foreign exchange Net sales 329 (450 ) 244 (393 ) Foreign exchange Cost of goods sold (172 ) 426 (44 ) 418 Foreign exchange SG&A expenses 138 35 290 70 Interest rate Interest expense 132 132 266 266 394 84 631 251 Income tax effect Income taxes (64 ) (28 ) (111 ) (77 ) Net of income taxes $ 330 $ 56 $ 520 $ 174 Defined benefit obligation: Amortization of prior services SG&A expenses $ 11 $ 2 $ 22 $ 4 Income tax effect Income taxes (2 ) — (4 ) (1 ) Net of income taxes $ 9 $ 2 $ 18 $ 3 Amounts in parentheses reduce earnings.

SALES OF ACCOUNTS RECEIVABLE

SALES OF ACCOUNTS RECEIVABLE	6 Months Ended
	Feb. 28, 2017
Transfers and Servicing [Abstract]
Sales of accounts receivable	NOTE 3. SALES OF ACCOUNTS RECEIVABLE During the fourth quarter of fiscal 2016, CMC entered into a fifth amended $200.0 million U.S. sale of trade accounts receivable program which expires on August 15, 2019. Under the program, CMC 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 formed for the sole purpose of buying and selling trade accounts receivable generated by CMC. CMCRV sells the trade accounts receivable in their entirety to two financial institutions. Under the amended U.S. sale of trade 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 trade accounts receivable program contains certain cross-default provisions whereby a termination event could occur if the Company defaults under certain of its credit arrangements. The covenants contained in the receivables purchase agreement are consistent with the Credit Agreement described in Note 7, Credit Arrangements. At February 28, 2017 and August 31, 2016 , under its U.S. sale of trade accounts receivable program, the Company had sold $262.3 million and $215.9 million of trade accounts receivable, respectively, to the financial institutions. At February 28, 2017 and August 31, 2016 , the Company had no advance payments outstanding on the sale of its trade accounts receivable. In addition to the U.S. sale of trade accounts receivable program described above, the Company's international subsidiaries in Poland and Australia have sold 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 and are removed from the consolidated balance sheets. The Polish program has a facility limit of 220.0 million Polish zloty ( $54.0 million as of February 28, 2017 ) and allows the Company's Polish subsidiaries to obtain an advance of up to 90% of eligible trade accounts receivable sold under the terms of the arrangement. Under the Polish and Australian programs, the cash advances received were reflected as cash provided by operating activities on the Company's unaudited condensed consolidated statements of cash flows. In October 2016, the Company's existing Australian program expired and the Company did not enter into a new program. At February 28, 2017 , under its Polish program, the Company had sold $56.9 million of trade accounts receivable to the third-party financial institution. At August 31, 2016 , under its Polish and Australian programs, the Company had sold $85.7 million of trade accounts receivable to third-party financial institutions. At February 28, 2017 and August 31, 2016 , $3.2 million and $8.3 million in advance payments had been received, respectively. During the six months ended February 28, 2017 and February 29, 2016 , cash proceeds from the U.S. and international sale of trade accounts receivable programs were $178.8 million and $202.1 million , respectively, and cash payments to the owners of trade accounts receivable were $183.9 million and $190.6 million , respectively. For a nominal servicing fee, the Company is responsible for servicing the trade accounts receivable for the U.S. and Australian programs. Discounts on U.S. and international sales of trade accounts receivable were $0.2 million and $0.4 million for the three and six months ended February 28, 2017 , respectively, and $0.5 million and $0.9 million for the three and six months ended February 29, 2016 , respectively, and are included in selling, general and administrative expenses in the Company's unaudited condensed consolidated statements of earnings. As of February 28, 2017 and August 31, 2016 , the deferred purchase price on the Company's U.S. and international sale of trade accounts receivable programs is included in accounts receivable on the Company's unaudited condensed consolidated balance sheets. The following tables summarize the activity of the deferred purchase price receivables for the U.S. and international sale of trade accounts receivable programs. Three Months Ended February 28, 2017 (in thousands) Total U.S. Poland Beginning balance $ 261,521 $ 215,717 $ 45,804 Transfers of accounts receivable 643,478 561,010 82,468 Collections (592,553 ) (518,008 ) (74,545 ) Ending balance $ 312,446 $ 258,719 $ 53,727 Six Months Ended February 28, 2017 (in thousands) Total U.S. Australia* Poland Beginning balance $ 289,748 $ 212,762 $ 26,662 $ 50,324 Transfers of accounts receivable 1,200,442 1,031,155 16,914 152,373 Collections (1,143,827 ) (985,198 ) (9,659 ) (148,970 ) Program termination (33,917 ) — (33,917 ) — Ending balance $ 312,446 $ 258,719 $ — $ 53,727 _________________ * Includes the sales of trade accounts receivable activities related to discontinued operations and businesses sold. For the six months ended February 28, 2017 , there were no transfers of trade accounts receivable, collections of $3.7 million and program termination of $1.6 million . Three Months Ended February 29, 2016 (in thousands) Total U.S. Australia** Poland Beginning balance $ 228,862 $ 196,130 $ 15,286 $ 17,446 Transfers of accounts receivable 537,774 432,900 37,256 67,618 Collections (534,762 ) (435,995 ) (39,159 ) (59,608 ) Ending balance $ 231,874 $ 193,035 $ 13,383 $ 25,456 _________________ ** Includes the sales of accounts receivable activities related to businesses held for sale (transfers of accounts receivable of $11.1 million and collections of $11.9 million for the three months ended February 29, 2016 ). Six Months Ended February 29, 2016 (in thousands) Total U.S. Australia*** Poland Beginning balance $ 339,547 $ 269,778 $ 18,038 $ 51,731 Transfers of accounts receivable 1,126,193 919,423 83,330 123,440 Collections (1,233,866 ) (996,166 ) (87,985 ) (149,715 ) Ending balance $ 231,874 $ 193,035 $ 13,383 $ 25,456 _________________ *** Includes the sales of trade accounts receivable activities related to discontinued operations and businesses held for sale. For the six months ended February 29, 2016 , transfers of trade accounts receivable were $23.4 million and collections were $36.8 million .

INVENTORIES, NET

INVENTORIES, NET	6 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Inventories, net	NOTE 4. INVENTORIES, NET As of February 28, 2017 and August 31, 2016 , inventories were stated at the lower of cost or net realizable value. The Company determines inventory cost for its Americas Recycling, Americas Mills, Americas Fabrication and International Mill segments using the weighted average cost method. The Company determines inventory cost for its International Marketing and Distribution segment using the specific identification method. At February 28, 2017 , 65% of the Company's total net inventories were valued using the weighted average cost method and 35% of the Company's total net inventories were valued using the specification identification method. The majority of the Company's inventories are in the form of semi-finished and finished goods. The Company’s business model, with the exception of the International Marketing and Distribution segment, is such that products are sold to external customers in various stages, from semi-finished billets through fabricated steel, leading these categories to be combined. Inventories in the International Marketing and Distribution segment are sold as finished goods. As such, work in process inventories were not material at February 28, 2017 and August 31, 2016 . At February 28, 2017 and August 31, 2016 , $113.0 million and $77.9 million , respectively, of the Company's inventories were in the form of raw materials. Inventory write-downs were $0.7 million and $1.2 million during the three and six months ended February 28, 2017 , respectively, and were $5.3 million and $7.9 million during the three and six months ended February 29, 2016 , respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Feb. 28, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	NOTE 5. 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 Goodwill, gross Balance at August 31, 2016 $ 9,751 $ 4,970 $ 57,637 $ 2,432 $ 1,982 $ 76,772 Acquisitions — — 306 — — 306 Foreign currency translation — — — (98 ) (58 ) (156 ) Balance at February 28, 2017 $ 9,751 $ 4,970 $ 57,943 $ 2,334 $ 1,924 $ 76,922 Accumulated impairment losses Balance at August 31, 2016 $ (9,751 ) $ — $ (493 ) $ (155 ) $ — $ (10,399 ) Foreign currency translation — — — 7 — 7 Balance at February 28, 2017 $ (9,751 ) $ — $ (493 ) $ (148 ) $ — $ (10,392 ) Goodwill, net Balance at August 31, 2016 $ — $ 4,970 $ 57,144 $ 2,277 $ 1,982 $ 66,373 Acquisitions — — 306 — — 306 Foreign currency translation — — — (91 ) (58 ) (149 ) Balance at February 28, 2017 $ — $ 4,970 $ 57,450 $ 2,186 $ 1,924 $ 66,530 The total gross carrying amounts of the Company's intangible assets that are subject to amortization were $19.8 million and $18.6 million at February 28, 2017 and August 31, 2016 , respectively, and are included in other noncurrent assets on the Company's unaudited condensed consolidated balance sheets. Intangible amortization expense from continuing operations was $0.7 million and $1.0 million for the three and six months ended February 28, 2017 , respectively, and $1.0 million and $2.1 million for the three and six months ended February 29, 2016 , respectively. Excluding goodwill, there are no significant intangible assets with indefinite lives.

CHANGES IN BUSINESS

CHANGES IN BUSINESS	6 Months Ended
	Feb. 28, 2017
Business Combinations [Abstract]
Changes in Business	NOTE 6. CHANGES IN BUSINESS Acquisitions On December 12, 2016, the Company completed the purchase of substantially all of the assets of Continental Concrete Structures, Inc. ("CCS"), a fabricator of post-tensioning cable and related products for commercial and public construction projects with a facility in Alpharetta, Georgia. In addition, CCS provides professional design and value engineering services to the construction industry throughout North America. This acquisition complements the Company’s current rebar fabrication business and continues its strategy of creating value for customers. The operating results of this facility are included in the Americas Fabrication reporting segment. On January 9, 2017, the Company completed the purchase of substantially all of the assets of Associated Steel Workers, Limited ("ASW"), a steel fabrication facility in Kapolei, Hawaii. This acquisition continues the vertical integration model of the Company by extending our geographic reach, establishing a fabrication operation in Hawaii and expanding our presence in the Hawaiian market. The operating results of this facility are included in the Americas Fabrication reporting segment. On March 6, 2017, the Company completed the purchase of certain assets from OmniSource Corporation, a wholly owned subsidiary of Steel Dynamics, Inc., consisting of seven recycling facilities located in the southeast United States (the "Recycling Assets"), which are in close proximity to CMC’s minimill in Cayce, South Carolina. These facilities are expected to provide synergies with our other operations in the region. The operating results of these facilities will be included in the Americas Recycling reporting segment. The acquisitions of CCS, ASW and the Recycling Assets are not material, individually or in the aggregate, to the Company's financial position or results of operations; therefore, pro forma operating results for the acquisitions are not presented since the results would not be significantly different than reported results. Discontinued Operations 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 included in the International Marketing and Distribution reporting segment. Financial information for discontinued operations was as follows: Three Months Ended Six Months Ended (in thousands) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Net sales $ 1 $ 9,953 $ (22 ) $ 21,507 Earnings (loss) from discontinued operations before income taxes (benefit) 726 (446 ) (191 ) (1,018 )

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	6 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Credit arrangements	NOTE 7. CREDIT ARRANGEMENTS The Company has a fourth amended and restated credit agreement (the "Credit Agreement") for a revolving credit facility of $350.0 million with a maturity date of June 26, 2019 . 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 collateralized by its U.S. inventory. 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 $3.0 million at both February 28, 2017 and August 31, 2016 . The Company had no amounts drawn under the Credit Agreement at February 28, 2017 and August 31, 2016 . 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, as defined below, 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 $150.0 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 London Interbank Offered Rate ("LIBOR"). At February 28, 2017 , the Company's interest coverage ratio was 5.65 to 1.00, and the Company's debt to capitalization ratio was 0.44 to 1.00. In May 2013, the Company issued $330.0 million of 4.875% Senior Notes due May 2023 (the "2023 Notes"). Interest on the 2023 Notes is payable semiannually. In August 2008, the Company issued $500.0 million of 7.35% senior unsecured notes due in August 2018 (the "2018 Notes"). During the third quarter of fiscal 2010, the Company entered into hedging 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 February 2016, the Company accepted for purchase approximately $100.2 million of the outstanding principal amount of its 2018 Notes through a cash tender offer. The Company recognized expenses of approximately $6.0 million related to the early extinguishment of this debt, which are included in loss on debt extinguishment in the unaudited condensed consolidated statements of earnings for the three and six months ended February 29, 2016 . In July 2007, the Company issued $400.0 million of 6.50% senior unsecured notes due in July 2017 (the "2017 Notes"). During the third quarter of fiscal 2011, the Company entered into hedging transactions which reduced the Company's effective interest rate on these notes to 5.74% per annum. Interest on these notes is payable semiannually. In February 2016, the Company accepted for purchase $100.0 million of the outstanding principal amount of its 2017 Notes though a cash tender offer. The Company recognized expenses of approximately $5.4 million related to the early extinguishment of this debt, which are included in loss on debt extinguishment in the unaudited condensed consolidated statements of earnings for the three and six months ended February 29, 2016 . 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 February 28, 2017 and August 31, 2016 , the unamortized amounts were $7.8 million and $11.6 million , respectively. Amortization of the deferred gain for each of the three and six months ended February 28, 2017 and February 29, 2016 was $1.9 million and $3.8 million , respectively. At February 28, 2017 , the Company was in compliance with all covenants contained in its debt agreements. Long-term debt, including the deferred gain from the termination of the interest rate swaps, was as follows: (in thousands) Weighted Average February 28, 2017 August 31, 2016 2023 Notes 4.875% $ 330,000 $ 330,000 2018 Notes 6.40% 406,562 408,874 2017 Notes 5.74% 301,115 302,601 Other, including equipment notes 30,356 34,166 Total debt 1,068,033 1,075,641 Less debt issuance costs 3,696 4,224 Total amounts outstanding 1,064,337 1,071,417 Less current maturities 312,200 313,469 Long-term debt $ 752,137 $ 757,948 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), foreign exchange transactions and short-term advances which are priced at market rates. At both February 28, 2017 and August 31, 2016 , CMC Poland Sp. z.o.o. ("CMCP") had uncommitted credit facilities with several banks of PLN 175 million ( $43.0 million ) and PLN 175 million ( $44.8 million ), respectively. The uncommitted credit facilities as of February 28, 2017 have expiration dates ranging from March 2017 to November 2017, which CMCP intends to renew upon expiration. At February 28, 2017 and August 31, 2016 , no amounts were outstanding under these facilities. During the six months ended February 28, 2017 and February 29, 2016 , CMCP had no borrowings and no repayments under its uncommitted credit facilities. The Company capitalized $2.1 million and $3.7 million of interest in the cost of property, plant and equipment during the three and six months ended February 28, 2017 , respectively, and $0.5 million and $1.0 million for the three and six months ended February 29, 2016 , respectively. Cash paid for interest during the three and six months ended February 28, 2017 was $24.7 million and $33.1 million , respectively, and $31.9 million and $40.9 million during the three and six months ended February 29, 2016 , respectively.

NEW MARKETS TAX CREDIT TRANSACT

NEW MARKETS TAX CREDIT TRANSACTIONS	6 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
New Markets Tax Credit Transactions	NOTE 8. NEW MARKETS TAX CREDIT TRANSACTIONS In the second quarter of fiscal 2016, the Company entered into a financing transaction with U.S. Bancorp Community Development Corporation, a Minnesota corporation ("USBCDC"), related to the development, construction and equipping of a steel micro-mill in Durant, Oklahoma. To effect the transaction, USBCDC made a capital contribution to USBCDC Investment Fund 156, LLC, a Missouri limited liability company (the "Investment Fund"). Additionally, Commonwealth Acquisitions Holdings, Inc., a wholly owned subsidiary of CMC ("Commonwealth"), made a loan to the Investment Fund. The transaction qualified under the New Markets Tax Credit Program (the "NMTC Program") provided for in the Community Renewal Tax Relief Act of 2000 (the "Act"). The NMTC Program is intended to induce capital investment in qualified low-income communities. The Act permits taxpayers to claim credits against federal income taxes for up to 39% of qualified investments in certain community development entities (“CDEs”). CDEs are privately managed entities that are certified to make qualified low-income community investments to qualified projects. Commonwealth loaned $35.3 million to the Investment Fund at an interest rate of approximately 1.08% per year and with a maturity date of December 24, 2045 (the "Commonwealth Loan"). The Investment Fund also received capital contributions from USBCDC in the aggregate amount of $17.7 million (the "USBCDC Equity"). The Investment Fund used $51.5 million of the proceeds received from the Commonwealth Loan and the USBCDC Equity to make qualified equity investments ("QEIs") into certain CDEs, which, in turn, used $50.7 million of the QEIs to make loans to CMC Steel Oklahoma, LLC, a wholly owned subsidiary of CMC, with terms similar to the Commonwealth Loan and as partial financing for the construction, development and equipping of a new steel micro-mill in Durant, Oklahoma. The proceeds of the loans from the CDEs were recorded as restricted cash and included in other current assets in the accompanying unaudited condensed consolidated balance sheet. During the three and six months ended February 28, 2017 , the Company spent $4.5 million and $21.0 million , respectively, for qualified construction, development, and equipping activities for the micro-mill. The balance remaining in restricted cash was $0.7 million and $21.7 million at February 28, 2017 and August 31, 2016 , respectively. By virtue of its capital contribution to the Investment Fund, USBCDC is entitled to substantially all of the benefits derived from the new markets tax credits ("NMTCs"). This transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase USBCDC's interest in the Investment Fund. The Company believes USBCDC will exercise the put option in December 2022 at the end of the recapture period. The value attributed to the put/call is de minimis. The NMTC is subject to 100% recapture for a period of seven years as provided in the Internal Revenue Code. The Company is required to be in compliance with various regulations and contractual provisions that apply to the NMTC Program. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, could require the Company to indemnify USBCDC for any loss or recapture of NMTCs related to the financing until such time as the Company's obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with this arrangement. The Company has determined that the Investment Fund is a VIE, of which the Company is the primary beneficiary and has consolidated it in accordance with the accounting standard for consolidation. USBCDC's contribution is included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheet. Direct costs incurred in structuring the financing arrangement are deferred and will be recognized as expense over the seven year recapture period. Incremental costs to maintain the structure during the compliance period are recognized as incurred.

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT	6 Months Ended
	Feb. 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and risk management	NOTE 9. 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. At February 28, 2017 , the notional values of the Company's foreign currency contract commitments and its commodity contract commitments were $256.4 million and $36.3 million , respectively. At February 29, 2016 , the notional values of the Company's foreign currency contract commitments and its commodity contract commitments were $296.5 million and $30.1 million , respectively. The following table provides information regarding the Company's commodity contract commitments as of February 28, 2017 : Commodity Long/Short Total Aluminum Long 2,630 MT Aluminum Short 325 MT Copper Long 419 MT Copper Short 4,808 MT Zinc Long 15 MT _________________ MT = Metric Ton 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 unaudited condensed consolidated statements of earnings, and there were no components excluded from the assessment of hedge effectiveness for the three and six months ended February 28, 2017 and February 29, 2016 . 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 unaudited condensed consolidated statements of earnings: Three Months Ended Six Months Ended Derivatives Not Designated as Hedging Instruments (in thousands) Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity Cost of goods sold $ (146 ) $ (224 ) $ (4,775 ) $ 1,948 Foreign exchange Net sales — (4 ) — (4 ) Foreign exchange Cost of goods sold (25 ) 31 (33 ) 81 Foreign exchange SG&A expenses (678 ) 10,495 3,371 15,714 Gain (loss) before income taxes $ (849 ) $ 10,298 $ (1,437 ) $ 17,739 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 Hedging Instruments (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Foreign exchange Net sales $ 66 $ (61 ) $ 44 $ 83 Foreign exchange Cost of goods sold (1,693 ) 183 (607 ) (811 ) Gain (loss) before income taxes $ (1,627 ) $ 122 $ (563 ) $ (728 ) Hedged Items Designated as Fair Value Hedging Instruments (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Foreign exchange Net sales $ (66 ) $ 62 $ (44 ) $ (83 ) Foreign exchange Cost of goods sold 1,693 (183 ) 607 811 Gain (loss) before income taxes $ 1,627 $ (121 ) $ 563 $ 728 Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) (in thousands) Three Months Ended Six Months Ended February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity $ 118 $ 253 $ 217 $ (224 ) Foreign exchange 192 241 225 709 Gain, net of income taxes $ 310 $ 494 $ 442 $ 485 Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss) (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity Cost of goods sold $ (33 ) $ (59 ) $ (125 ) $ (110 ) Foreign exchange Net sales 329 (450 ) 244 (393 ) Foreign exchange Cost of goods sold (172 ) 426 (44 ) 418 Foreign exchange SG&A expenses 138 35 290 70 Interest rate Interest expense 132 132 266 266 Gain before income taxes 394 84 631 251 Income taxes Income taxes (64 ) (28 ) (111 ) (77 ) Gain, net of income taxes $ 330 $ 56 $ 520 $ 174 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 unaudited condensed consolidated balance sheets. The asset and liability balances in the tables below reflect the gross amounts of derivative instruments at February 28, 2017 and August 31, 2016 . The fair value of the Company's derivative instruments on the unaudited condensed consolidated balance sheets was as follows: Derivative Assets (in thousands) February 28, 2017 August 31, 2016 Commodity — designated for hedge accounting $ 170 $ 4 Commodity — not designated for hedge accounting 277 584 Foreign exchange — designated for hedge accounting 631 1,398 Foreign exchange — not designated for hedge accounting 1,169 750 Derivative assets (other current assets)* $ 2,247 $ 2,736 Derivative Liabilities (in thousands) February 28, 2017 August 31, 2016 Commodity — designated for hedge accounting $ — $ 5 Commodity — not designated for hedge accounting 595 117 Foreign exchange — designated for hedge accounting 718 902 Foreign exchange — not designated for hedge accounting 777 1,161 Derivative liabilities (accrued expenses and other payables)* $ 2,090 $ 2,185 _________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges. As of February 28, 2017 , substantially 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	6 Months Ended
	Feb. 28, 2017
Fair Value Disclosures [Abstract]
Fair value	NOTE 10. 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) February 28, 2017 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 290,329 $ 290,329 $ — $ — Commodity derivative assets (2) 447 277 170 — Foreign exchange derivative assets (2) 1,800 — 1,800 — Liabilities: Commodity derivative liabilities (2) 595 595 — — Foreign exchange derivative liabilities (2) 1,495 — 1,495 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2016 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 278,759 $ 278,759 $ — $ — Commodity derivative assets (2) 588 584 4 — Foreign exchange derivative assets (2) 2,148 — 2,148 — Liabilities: Commodity derivative liabilities (2) 122 117 5 — Foreign exchange derivative liabilities (2) 2,063 — 2,063 — _________________ (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 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 9, Derivatives and Risk Management. There were no material non-recurring fair value remeasurements during the three and six months ended February 28, 2017 and February 29, 2016 , respectively. 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 unaudited condensed consolidated balance sheets were as follows: February 28, 2017 August 31, 2016 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2023 Notes (1) Level 2 $ 330,000 $ 335,775 $ 330,000 $ 332,010 2018 Notes (1) Level 2 406,562 430,304 408,874 432,303 2017 Notes (1) Level 2 301,115 305,250 302,601 311,250 _________________ (1) The fair value of the notes is determined based on indicated market values.

INCOME TAX

INCOME TAX	6 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Income tax	NOTE 11. INCOME TAX The Company's effective income tax rate from continuing operations for the three and six months ended February 28, 2017 was 25.2% and 25.6% , respectively, compared with 16.0% and 27.5% for the three and six months ended February 29, 2016 , respectively. The effective tax rate is determined by computing the estimated annual effective tax rate, adjusted for discrete items, if any, which are taken into account in the appropriate period. Several factors determine the Company's effective tax rate, including the mix and amount of global earnings, the impact of loss companies for which no tax benefit is available due to valuation allowances, audit related adjustments, and the impact of permanent tax adjustments. For the three and six months ended February 28, 2017 and February 29, 2016 , the tax rate was lower than the statutory income tax rate of 35%. Items that impacted the effective tax rate included: i. the proportion of the Company's global income from operations in jurisdictions with lower statutory tax rates than the U.S., including Poland, which has a statutory income tax rate of 19% , ii. a permanent tax benefit under Section 199 of the Internal Revenue Code related to domestic production activity, iii. a non-taxable gain on assets related to the Company's non-qualified Benefits Restoration Plan, and iv. losses from operations in certain jurisdictions in which the Company maintains a valuation allowance, thus providing no benefit for such losses. In addition, the Company recorded a benefit as a result of a favorable adjustment related to its IRS exam in the second quarter of fiscal 2016, further impacting the rate in fiscal 2016. The Company’s tax expense related to discontinued operations is not material with respect to the three and six months ended February 28, 2017 and February 29, 2016 . The Company made net payments of $11.8 million and $23.5 million for income taxes during the six months ended February 28, 2017 and February 29, 2016 , respectively. As of February 28, 2017 and August 31, 2016 , the reserve for unrecognized income tax benefits related to the accounting for uncertainty in income taxes was $9.5 million , exclusive of interest and penalties. 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. For the three and six months ended February 28, 2017 , the Company recorded immaterial amounts of accrued interest and penalties on unrecognized income tax benefits. During the twelve months ending February 28 , 2018, it is reasonably possible that the statute of limitations pertaining to positions taken by 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 $9.5 million , which would reduce the provision for income taxes by $9.5 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, CMC 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 — 2012 and forward, with the exception of the R&D credit matter discussed below U.S. States — 2009 and forward Foreign — 2009 and forward During the fiscal year ended August 31, 2016, the Company completed an IRS exam for the years 2009 through 2011 and received confirmation from the United States Congress Joint Committee on Taxation that all matters were settled with the exception of R&D credits, which are still under review. In addition, the Company is under examination by certain state revenue authorities for the years 2009 through 2015. Management believes the Company's recorded income tax liabilities as of February 28, 2017 sufficiently reflect the anticipated outcome of these examinations.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	6 Months Ended
	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation plans	NOTE 12. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans are described, and informational disclosures provided, in Note 16, Stock-Based Compensation Plans, to the audited consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2016 . During the six months ended February 28, 2017 and February 29, 2016 , restricted stock units and performance stock units accounted for under the equity method totaling 0.9 million and 1.6 million , respectively, were granted at a weighted-average fair value of $16.04 and $15.83 , respectively. Additionally, during the six months ended February 28, 2017 and February 29, 2016 , the Company granted 0.9 million and 0.5 million equivalent shares, respectively, of performance stock units and restricted stock units accounted for under the liability method. During the first quarter of fiscal 2017 , certain restricted stock units and performance stock units that were previously accounted for under the equity method were modified to allow optionality related to the net share settlement feature, which resulted in accounting for these awards under the liability method. The fair value of liability awards is remeasured each reporting period and is recognized ratably over the service period. The Company incurred expenses of $0.8 million and $4.7 million as a result of the modification and the impact of the increased stock value on liability-treated awards during the three and six months ended February 28, 2017 , respectively, compared to immaterial mark-to-market adjustments for the three and six months ended February 29, 2016 . As of February 28, 2017 , the Company had 2.2 million equivalent shares accounted for under the liability method outstanding. The Company expects 2.1 million equivalent shares to vest. In general, the restricted stock units granted during fiscal 2017 vest ratably over a period of three years. However, certain restricted stock units granted during fiscal 2017 cliff vest after a period of three years. Subject to the achievement of performance targets established by the Compensation Committee of CMC's Board of Directors, the performance stock units granted during fiscal 2017 will vest after a period of three years. Total stock-based compensation expense, including fair value remeasurements, for the three and six months ended February 28, 2017 of $8.0 million and $16.2 million , respectively, and $6.8 million and $13.1 million for the three and six months ended February 29, 2016 , respectively, was included in selling, general and administrative expenses on the Company's unaudited condensed consolidated statements of earnings.

STOCKHOLDERS_ EQUITY AND EARNIN

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC	6 Months Ended
	Feb. 28, 2017
Earnings Per Share [Abstract]
Stockholder's equity and earnings per share attributable to CMC	NOTE 13. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 28, 2017 and February 29, 2016 were as follows: Three Months Ended Six Months Ended (in thousands, except share data) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Earnings from continuing operations attributable to CMC $ 29,639 $ 10,849 $ 36,813 $ 36,482 Basic earnings per share: Shares outstanding for basic earnings per share 115,736,369 115,429,550 115,415,662 115,725,896 Basic earnings per share attributable to CMC $ 0.25 $ 0.09 $ 0.32 $ 0.32 Diluted earnings per share: Shares outstanding for basic earnings per share 115,736,369 115,429,550 115,415,662 115,725,896 Effect of dilutive securities: Stock-based incentive/purchase plans 1,383,839 1,078,041 1,592,296 1,276,926 Shares outstanding for diluted earnings per share 117,120,208 116,507,591 117,007,958 117,002,822 Diluted earnings per share attributable to CMC $ 0.25 $ 0.09 $ 0.31 $ 0.31 Anti-dilutive shares not included above — 714,342 — 714,342 CMC's restricted stock is included in the number of shares of common stock issued and outstanding, but is omitted from the basic earnings per share calculation until the shares vest. During the first quarter of fiscal 2015, CMC's Board of Directors authorized a share repurchase program under which CMC may repurchase up to $100.0 million of shares of CMC common stock. CMC did not purchase any shares of CMC common stock during the three and six months ended February 28, 2017 . During the three and six months ended February 29, 2016 , CMC purchased 1.9 million and 2.3 million shares of CMC common stock, respectively, at an average purchase price of $13.43 and $13.57 per share, respectively. CMC had remaining authorization to purchase $27.6 million of common stock at February 28, 2017 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	NOTE 14. COMMITMENTS AND CONTINGENCIES Purchase Obligations The Company regularly enters into future purchase commitments for materials, supplies, services and fixed assets related to ongoing operations. Approximately 75% of these purchase obligations are for inventory items to be sold in the ordinary course of business. Purchase obligations include all enforceable, legally binding agreements to purchase goods or services that specify all significant terms, regardless of the duration of the agreement. Agreements with variable terms are excluded because we are unable to estimate the minimum amounts. Another significant obligation relates to capital expenditures. We do not expect potential payments under these provisions to materially affect results of operations or financial condition based upon reasonably likely outcomes derived by reference to experience and current business plans. Twelve Months Ending February 28, (in thousands) 2018 $ 749,005 2019 105,952 2020 55,720 2021 39,586 2022 3,935 Thereafter 6,989 Total $ 961,187 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. See Note 19, Commitments and Contingencies, to the audited consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2016 . 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 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 both February 28, 2017 and August 31, 2016 , the Company had accrued $0.7 million 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 with respect to CERCLA sites, were $3.2 million and $3.3 million as of February 28, 2017 and August 31, 2016 , respectively, of which $2.1 million was classified as other long-term liabilities as of both February 28, 2017 and August 31, 2016 . These amounts have not been discounted to their present values. 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 unaudited condensed 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.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Business segments	NOTE 15. 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, of the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2016 , 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 net earnings on benefit restoration plan assets and short-term investments as well as expenses of the Company's corporate headquarters and interest expense related to its long-term debt. The financial information presented for the International Marketing and Distribution segment excludes the operations of the Australian steel distribution business. This operation has been classified as discontinued operations in the consolidated statements of earnings. See Note 6, Changes in Business, to the unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q, for more information. The Company uses adjusted operating profit (loss) from continuing operations to compare and evaluate the financial performance of its segments. Adjusted operating profit (loss) 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, of the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2016 . The following is a summary of certain financial information from continuing operations by reportable segment: Three Months Ended February 28, 2017 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 188,502 $ 220,607 $ 301,382 $ 134,125 $ 301,163 $ 3,842 $ — $ 1,149,621 Intersegment sales 34,826 155,986 2,444 180 1,132 — (194,568 ) — Net sales 223,328 376,593 303,826 134,305 302,295 3,842 (194,568 ) 1,149,621 Adjusted operating profit (loss) from continuing operations 7,766 51,319 506 9,430 6,143 (22,317 ) (576 ) 52,271 Six Months Ended February 28, 2017 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 342,864 $ 423,938 $ 636,659 $ 268,315 $ 547,316 $ 5,592 $ — $ 2,224,684 Intersegment sales 57,172 299,820 5,567 391 3,139 — (366,089 ) — Net sales 400,036 723,758 642,226 268,706 550,455 5,592 (366,089 ) 2,224,684 Adjusted operating profit (loss) from continuing operations 2,668 88,268 7,217 19,403 5,177 (46,330 ) (780 ) 75,623 Total assets as of February 28, 2017* 214,630 865,428 657,917 389,184 591,769 935,452 (523,506 ) 3,130,874 Three Months Ended February 29, 2016 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 119,641 $ 189,549 $ 333,961 $ 107,458 $ 271,955 $ (2,867 ) $ — $ 1,019,697 Intersegment sales 28,705 146,880 2,183 — 4,921 — (182,689 ) — Net sales 148,346 336,429 336,144 107,458 276,876 (2,867 ) (182,689 ) 1,019,697 Adjusted operating profit (loss) from continuing operations (7,645 ) 50,699 14,825 1,951 (2,293 ) (28,801 ) 1,232 29,968 Six Months Ended February 29, 2016 Americas International Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 274,477 $ 407,190 $ 713,442 $ 227,906 $ 552,017 $ (476 ) $ — $ 2,174,556 Intersegment sales 53,076 313,771 5,016 — 7,896 — (379,759 ) — Net sales 327,553 720,961 718,458 227,906 559,913 (476 ) (379,759 ) 2,174,556 Adjusted operating profit (loss) from continuing operations (14,193 ) 109,763 36,170 4,722 (4,462 ) (46,873 ) 902 86,029 Total assets as of August 31, 2016* 188,873 798,481 659,165 372,492 564,068 1,034,053 (493,050 ) 3,124,082 _________________ * Excludes total assets from discontinued operations of $1.0 million at February 28, 2017 and $6.8 million at August 31, 2016 . Reconciliations of earnings from continuing operations to adjusted operating profit from continuing operations are provided below: Three Months Ended Six Months Ended (in thousands) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Earnings from continuing operations $ 29,639 $ 10,849 $ 36,813 $ 36,482 Income taxes 9,990 2,064 12,643 13,836 Interest expense 12,442 16,625 25,740 34,929 Discounts on sales of accounts receivable 200 430 427 782 Adjusted operating profit from continuing operations $ 52,271 $ 29,968 $ 75,623 $ 86,029

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Accounting principles	Accounting Principles The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") on a basis consistent with that used in the Annual Report on Form 10-K for the fiscal year ended August 31, 2016 filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the Securities and Exchange Commission ("SEC") and include all normal recurring adjustments necessary to present fairly the unaudited condensed consolidated balance sheets and the unaudited condensed consolidated statements of earnings, comprehensive income, cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended August 31, 2016 . The results of operations for the three and six month periods are not necessarily indicative of the results to be expected for the full year.
Recent accounting pronouncements	Recently Adopted Accounting Pronouncements In the second quarter of fiscal 2017, the Company adopted Accounting Standards Update ("ASU") 2016-09, Compensation - Stock Compensation (Topic 718), issued by the Financial Accounting Standards Board (the "FASB") requiring that the Company recognize all excess tax benefits and tax deficiencies as an income tax expense or benefit when stock awards vest or are settled. Additionally, the guidance allows for an increase in the threshold for net share settlement up to the maximum statutory rate in employees’ applicable jurisdictions without triggering liability classification. The adoption of this guidance had an immaterial impact on income taxes on the Company’s unaudited condensed consolidated statements of earnings for the three and six months ended February 28, 2017 . Additionally, the Company has elected to continue to estimate forfeitures. As such, this adoption has no cumulative effect on retained earnings. The Company elected to apply the presentation requirements for cash flows related to excess tax benefits prospectively, which had an immaterial impact on both net cash from operating activities and net cash used in financing activities for the six months ended February 28, 2017 . The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact on any of the periods presented on the Company’s consolidated statements of cash flows since such cash flows have historically been presented as a financing activity. In the first quarter of fiscal 2017, the Company adopted ASU 2015-16, Business Combinations (Topic 805), issued by the FASB requiring the acquirer in a business combination to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), issued by the FASB requiring an entity to account for fees paid in a cloud computing arrangement as a license of internal-use software. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-02, Consolidation (Topic 810), issued by the FASB modifying the evaluation of whether limited partnerships and similar legal entities are voting interest entities ("VIEs"). The guidance was adopted on a retrospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), issued by the FASB eliminating the concept of extraordinary items. Under this guidance, an entity is no longer allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations. The guidance was adopted on a prospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2014-13, Consolidation (Topic 810), issued by the FASB providing a measurement alternative to the existing fair value measurement guidance. When the measurement alternative is elected, the financial assets and liabilities are measured using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The guidance was adopted on a retrospective basis and did not have an impact on the Company's consolidated financial statements. In the first quarter of fiscal 2017, the Company adopted ASU 2014-12, Compensation - Stock Compensation (Topic 718), issued by the FASB 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 guidance was followed by the Company prior to its adoption and therefore had no impact on the Company's consolidated financial statements upon adoption. Recently Issued Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 805). The standard simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. This guidance is effective for annual periods or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The standard must be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company plans to early adopt the standard during fiscal 2017. The adoption of this guidance is not expected to have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business. The standard clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public companies, this standard is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The standard must be applied prospectively on or after the effective date. Early application of the amendments is allowed with certain restrictions. The Company is currently evaluating the effect that this standard will have on its consolidated financial statements as well as determining the Company's planned adoption date. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2017 with early adoption permitted. The provisions of this guidance are to be applied using a retrospective approach, which requires application of the guidance for all periods presented. The Company is currently evaluating the impact of this guidance on its consolidated financial statements as well as determining the Company's planned adoption date. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), requiring a lessee to recognize a right-of-use asset and a lease liability on its balance sheet for all leases with terms of twelve months or longer. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2018 and will be effective for the Company beginning September 1, 2019, at which point the Company plans to adopt the standard. The provisions of this guidance are to be applied using a modified retrospective approach, with elective reliefs, which requires application of the guidance for all periods presented. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), and has modified the standard thereafter. Under the standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2017 and will be effective for the Company beginning September 1, 2018, at which point the Company plans to adopt the standard. The standard permits the use of either the retrospective or cumulative effect transition method. The Company currently expects to adopt the standard using the cumulative effect transition method. Upon initial assessment, the Company does not believe the standard will have a material impact on its results of operations or cash flows; however, the Company is in the process of examining contract specific terms within each segment. In addition, the standard includes expanded disclosure requirements, which the Company continues to analyze. As part of the overall evaluation of the standard, the Company is also assessing potential changes to its accounting policies, practices and internal controls over financial reporting to support the standard.
Fair value measurement	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.
Uncertain income tax positions	he 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.

ACCUMULATED OTHER COMPREHENSI26

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Feb. 28, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"), net of income taxes: Three Months Ended February 28, 2017 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2016 $ (133,786 ) $ 2,128 $ (2,854 ) $ (134,512 ) Other comprehensive income before reclassifications 9,551 310 — 9,861 Amounts reclassified from AOCI — (330 ) (9 ) (339 ) Net other comprehensive income (loss) 9,551 (20 ) (9 ) 9,522 Balance, February 28, 2017 $ (124,235 ) $ 2,108 $ (2,863 ) $ (124,990 ) Six Months Ended February 28, 2017 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2016 $ (112,255 ) $ 2,186 $ (2,845 ) $ (112,914 ) Other comprehensive income (loss) before reclassifications (11,980 ) 442 — (11,538 ) Amounts reclassified from AOCI — (520 ) (18 ) (538 ) Net other comprehensive loss (11,980 ) (78 ) (18 ) (12,076 ) Balance, February 28, 2017 $ (124,235 ) $ 2,108 $ (2,863 ) $ (124,990 ) Three Months Ended February 29, 2016 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2015 $ (135,076 ) $ 2,178 $ (2,760 ) $ (135,658 ) Other comprehensive income before reclassifications 4,211 494 — 4,705 Amounts reclassified from AOCI — (56 ) (2 ) (58 ) Net other comprehensive income (loss) 4,211 438 (2 ) 4,647 Balance, February 29, 2016 $ (130,865 ) $ 2,616 $ (2,762 ) $ (131,011 ) Six Months Ended February 29, 2016 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2015 $ (113,081 ) $ 2,305 $ (2,759 ) $ (113,535 ) Other comprehensive income (loss) before reclassifications (17,784 ) 485 — (17,299 ) Amounts reclassified from AOCI — (174 ) (3 ) (177 ) Net other comprehensive income (loss) (17,784 ) 311 (3 ) (17,476 ) Balance, February 29, 2016 $ (130,865 ) $ 2,616 $ (2,762 ) $ (131,011 )
Schedule of reclassification out of accumulated other comprehensive income (loss)	The significant items reclassified out of AOCI and the corresponding line items in the unaudited condensed consolidated statements of earnings to which the items were reclassified were as follows: Three Months Ended Six Months Ended Components of AOCI (in thousands) Location February 28, February 29, February 28, February 29, Unrealized gain (loss) on derivatives: Commodity Cost of goods sold $ (33 ) $ (59 ) $ (125 ) $ (110 ) Foreign exchange Net sales 329 (450 ) 244 (393 ) Foreign exchange Cost of goods sold (172 ) 426 (44 ) 418 Foreign exchange SG&A expenses 138 35 290 70 Interest rate Interest expense 132 132 266 266 394 84 631 251 Income tax effect Income taxes (64 ) (28 ) (111 ) (77 ) Net of income taxes $ 330 $ 56 $ 520 $ 174 Defined benefit obligation: Amortization of prior services SG&A expenses $ 11 $ 2 $ 22 $ 4 Income tax effect Income taxes (2 ) — (4 ) (1 ) Net of income taxes $ 9 $ 2 $ 18 $ 3 Amounts in parentheses reduce earnings.

SALES OF ACCOUNTS RECEIVABLE (T

SALES OF ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Feb. 28, 2017
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 trade accounts receivable programs. Three Months Ended February 28, 2017 (in thousands) Total U.S. Poland Beginning balance $ 261,521 $ 215,717 $ 45,804 Transfers of accounts receivable 643,478 561,010 82,468 Collections (592,553 ) (518,008 ) (74,545 ) Ending balance $ 312,446 $ 258,719 $ 53,727 Six Months Ended February 28, 2017 (in thousands) Total U.S. Australia* Poland Beginning balance $ 289,748 $ 212,762 $ 26,662 $ 50,324 Transfers of accounts receivable 1,200,442 1,031,155 16,914 152,373 Collections (1,143,827 ) (985,198 ) (9,659 ) (148,970 ) Program termination (33,917 ) — (33,917 ) — Ending balance $ 312,446 $ 258,719 $ — $ 53,727 _________________ * Includes the sales of trade accounts receivable activities related to discontinued operations and businesses sold. For the six months ended February 28, 2017 , there were no transfers of trade accounts receivable, collections of $3.7 million and program termination of $1.6 million . Three Months Ended February 29, 2016 (in thousands) Total U.S. Australia** Poland Beginning balance $ 228,862 $ 196,130 $ 15,286 $ 17,446 Transfers of accounts receivable 537,774 432,900 37,256 67,618 Collections (534,762 ) (435,995 ) (39,159 ) (59,608 ) Ending balance $ 231,874 $ 193,035 $ 13,383 $ 25,456 _________________ ** Includes the sales of accounts receivable activities related to businesses held for sale (transfers of accounts receivable of $11.1 million and collections of $11.9 million for the three months ended February 29, 2016 ). Six Months Ended February 29, 2016 (in thousands) Total U.S. Australia*** Poland Beginning balance $ 339,547 $ 269,778 $ 18,038 $ 51,731 Transfers of accounts receivable 1,126,193 919,423 83,330 123,440 Collections (1,233,866 ) (996,166 ) (87,985 ) (149,715 ) Ending balance $ 231,874 $ 193,035 $ 13,383 $ 25,456 _________________ *** Includes the sales of trade accounts receivable activities related to discontinued operations and businesses held for sale. For the six months ended February 29, 2016 , transfers of trade accounts receivable were $23.4 million and collections were $36.8 million .

GOODWILL AND OTHER INTANGIBLE28

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Feb. 28, 2017
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 Goodwill, gross Balance at August 31, 2016 $ 9,751 $ 4,970 $ 57,637 $ 2,432 $ 1,982 $ 76,772 Acquisitions — — 306 — — 306 Foreign currency translation — — — (98 ) (58 ) (156 ) Balance at February 28, 2017 $ 9,751 $ 4,970 $ 57,943 $ 2,334 $ 1,924 $ 76,922 Accumulated impairment losses Balance at August 31, 2016 $ (9,751 ) $ — $ (493 ) $ (155 ) $ — $ (10,399 ) Foreign currency translation — — — 7 — 7 Balance at February 28, 2017 $ (9,751 ) $ — $ (493 ) $ (148 ) $ — $ (10,392 ) Goodwill, net Balance at August 31, 2016 $ — $ 4,970 $ 57,144 $ 2,277 $ 1,982 $ 66,373 Acquisitions — — 306 — — 306 Foreign currency translation — — — (91 ) (58 ) (149 ) Balance at February 28, 2017 $ — $ 4,970 $ 57,450 $ 2,186 $ 1,924 $ 66,530

CHANGES IN BUSINESS (Tables)

CHANGES IN BUSINESS (Tables)	6 Months Ended
	Feb. 28, 2017
Business Combinations [Abstract]
Financial information for discontinued operations	Financial information for discontinued operations was as follows: Three Months Ended Six Months Ended (in thousands) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Net sales $ 1 $ 9,953 $ (22 ) $ 21,507 Earnings (loss) from discontinued operations before income taxes (benefit) 726 (446 ) (191 ) (1,018 )

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	6 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Long-term debt, including the deferred gain from the termination of the interest rate swaps	At February 28, 2017 , the Company was in compliance with all covenants contained in its debt agreements. Long-term debt, including the deferred gain from the termination of the interest rate swaps, was as follows: (in thousands) Weighted Average February 28, 2017 August 31, 2016 2023 Notes 4.875% $ 330,000 $ 330,000 2018 Notes 6.40% 406,562 408,874 2017 Notes 5.74% 301,115 302,601 Other, including equipment notes 30,356 34,166 Total debt 1,068,033 1,075,641 Less debt issuance costs 3,696 4,224 Total amounts outstanding 1,064,337 1,071,417 Less current maturities 312,200 313,469 Long-term debt $ 752,137 $ 757,948 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), foreign exchange transactions and short-term advances which are priced at market rates.

DERIVATIVES AND RISK MANAGEME31

DERIVATIVES AND RISK MANAGEMENT (Tables)	6 Months Ended
	Feb. 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity contract commitments	The following table provides information regarding the Company's commodity contract commitments as of February 28, 2017 : Commodity Long/Short Total Aluminum Long 2,630 MT Aluminum Short 325 MT Copper Long 419 MT Copper Short 4,808 MT Zinc Long 15 MT _________________ MT = Metric Ton
Derivatives not designated as hedging instruments	The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the unaudited condensed consolidated statements of earnings: Three Months Ended Six Months Ended Derivatives Not Designated as Hedging Instruments (in thousands) Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity Cost of goods sold $ (146 ) $ (224 ) $ (4,775 ) $ 1,948 Foreign exchange Net sales — (4 ) — (4 ) Foreign exchange Cost of goods sold (25 ) 31 (33 ) 81 Foreign exchange SG&A expenses (678 ) 10,495 3,371 15,714 Gain (loss) before income taxes $ (849 ) $ 10,298 $ (1,437 ) $ 17,739
Derivatives designated as fair value hedging instruments	Hedged items relate to firm commitments on commercial sales and purchases and capital expenditures. Derivatives Designated as Fair Value Hedging Instruments (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Foreign exchange Net sales $ 66 $ (61 ) $ 44 $ 83 Foreign exchange Cost of goods sold (1,693 ) 183 (607 ) (811 ) Gain (loss) before income taxes $ (1,627 ) $ 122 $ (563 ) $ (728 )
Hedged items designated as fair value hedging instruments	Hedged Items Designated as Fair Value Hedging Instruments (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Foreign exchange Net sales $ (66 ) $ 62 $ (44 ) $ (83 ) Foreign exchange Cost of goods sold 1,693 (183 ) 607 811 Gain (loss) before income taxes $ 1,627 $ (121 ) $ 563 $ 728
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) Three Months Ended Six Months Ended February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity $ 118 $ 253 $ 217 $ (224 ) Foreign exchange 192 241 225 709 Gain, net of income taxes $ 310 $ 494 $ 442 $ 485
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 Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss) (in thousands) Three Months Ended Six Months Ended Location February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Commodity Cost of goods sold $ (33 ) $ (59 ) $ (125 ) $ (110 ) Foreign exchange Net sales 329 (450 ) 244 (393 ) Foreign exchange Cost of goods sold (172 ) 426 (44 ) 418 Foreign exchange SG&A expenses 138 35 290 70 Interest rate Interest expense 132 132 266 266 Gain before income taxes 394 84 631 251 Income taxes Income taxes (64 ) (28 ) (111 ) (77 ) Gain, net of income taxes $ 330 $ 56 $ 520 $ 174
Derivative assets	The fair value of the Company's derivative instruments on the unaudited condensed consolidated balance sheets was as follows: Derivative Assets (in thousands) February 28, 2017 August 31, 2016 Commodity — designated for hedge accounting $ 170 $ 4 Commodity — not designated for hedge accounting 277 584 Foreign exchange — designated for hedge accounting 631 1,398 Foreign exchange — not designated for hedge accounting 1,169 750 Derivative assets (other current assets)* $ 2,247 $ 2,736
Derivative liabilities	Derivative Liabilities (in thousands) February 28, 2017 August 31, 2016 Commodity — designated for hedge accounting $ — $ 5 Commodity — not designated for hedge accounting 595 117 Foreign exchange — designated for hedge accounting 718 902 Foreign exchange — not designated for hedge accounting 777 1,161 Derivative liabilities (accrued expenses and other payables)* $ 2,090 $ 2,185 _________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Feb. 28, 2017
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) February 28, 2017 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 290,329 $ 290,329 $ — $ — Commodity derivative assets (2) 447 277 170 — Foreign exchange derivative assets (2) 1,800 — 1,800 — Liabilities: Commodity derivative liabilities (2) 595 595 — — Foreign exchange derivative liabilities (2) 1,495 — 1,495 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2016 Quoted Prices in Significant Other Significant Assets: Money market investments (1) $ 278,759 $ 278,759 $ — $ — Commodity derivative assets (2) 588 584 4 — Foreign exchange derivative assets (2) 2,148 — 2,148 — Liabilities: Commodity derivative liabilities (2) 122 117 5 — Foreign exchange derivative liabilities (2) 2,063 — 2,063 — _________________ (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 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 9, Derivatives and Risk Management.
Financial assets and liabilities 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 unaudited condensed consolidated balance sheets were as follows: February 28, 2017 August 31, 2016 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2023 Notes (1) Level 2 $ 330,000 $ 335,775 $ 330,000 $ 332,010 2018 Notes (1) Level 2 406,562 430,304 408,874 432,303 2017 Notes (1) Level 2 301,115 305,250 302,601 311,250 _________________ (1) The fair value of the notes is determined based on indicated market values.

STOCKHOLDERS_ EQUITY AND EARN33

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Tables)	6 Months Ended
	Feb. 28, 2017
Earnings Per Share [Abstract]
Calculations of the basic and diluted earnings per share from continuing operations	The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 28, 2017 and February 29, 2016 were as follows: Three Months Ended Six Months Ended (in thousands, except share data) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Earnings from continuing operations attributable to CMC $ 29,639 $ 10,849 $ 36,813 $ 36,482 Basic earnings per share: Shares outstanding for basic earnings per share 115,736,369 115,429,550 115,415,662 115,725,896 Basic earnings per share attributable to CMC $ 0.25 $ 0.09 $ 0.32 $ 0.32 Diluted earnings per share: Shares outstanding for basic earnings per share 115,736,369 115,429,550 115,415,662 115,725,896 Effect of dilutive securities: Stock-based incentive/purchase plans 1,383,839 1,078,041 1,592,296 1,276,926 Shares outstanding for diluted earnings per share 117,120,208 116,507,591 117,007,958 117,002,822 Diluted earnings per share attributable to CMC $ 0.25 $ 0.09 $ 0.31 $ 0.31 Anti-dilutive shares not included above — 714,342 — 714,342 CMC's restricted stock is included in the number of shares of common stock issued and outstanding, but is omitted from the basic earnings per share calculation until the shares vest.

COMMITMENTS AND CONTINGENCIES S

COMMITMENTS AND CONTINGENCIES Schedule of Future Purchase Commitments (Tables)	6 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Purchase Commitments	Twelve Months Ending February 28, (in thousands) 2018 $ 749,005 2019 105,952 2020 55,720 2021 39,586 2022 3,935 Thereafter 6,989 Total $ 961,187

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Feb. 28, 2017
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: Three Months Ended February 28, 2017 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 188,502 $ 220,607 $ 301,382 $ 134,125 $ 301,163 $ 3,842 $ — $ 1,149,621 Intersegment sales 34,826 155,986 2,444 180 1,132 — (194,568 ) — Net sales 223,328 376,593 303,826 134,305 302,295 3,842 (194,568 ) 1,149,621 Adjusted operating profit (loss) from continuing operations 7,766 51,319 506 9,430 6,143 (22,317 ) (576 ) 52,271 Six Months Ended February 28, 2017 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 342,864 $ 423,938 $ 636,659 $ 268,315 $ 547,316 $ 5,592 $ — $ 2,224,684 Intersegment sales 57,172 299,820 5,567 391 3,139 — (366,089 ) — Net sales 400,036 723,758 642,226 268,706 550,455 5,592 (366,089 ) 2,224,684 Adjusted operating profit (loss) from continuing operations 2,668 88,268 7,217 19,403 5,177 (46,330 ) (780 ) 75,623 Total assets as of February 28, 2017* 214,630 865,428 657,917 389,184 591,769 935,452 (523,506 ) 3,130,874 Three Months Ended February 29, 2016 Americas International (in thousands) Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 119,641 $ 189,549 $ 333,961 $ 107,458 $ 271,955 $ (2,867 ) $ — $ 1,019,697 Intersegment sales 28,705 146,880 2,183 — 4,921 — (182,689 ) — Net sales 148,346 336,429 336,144 107,458 276,876 (2,867 ) (182,689 ) 1,019,697 Adjusted operating profit (loss) from continuing operations (7,645 ) 50,699 14,825 1,951 (2,293 ) (28,801 ) 1,232 29,968 Six Months Ended February 29, 2016 Americas International Recycling Mills Fabrication Mill Marketing and Distribution Corporate Eliminations Continuing Operations Net sales-unaffiliated customers $ 274,477 $ 407,190 $ 713,442 $ 227,906 $ 552,017 $ (476 ) $ — $ 2,174,556 Intersegment sales 53,076 313,771 5,016 — 7,896 — (379,759 ) — Net sales 327,553 720,961 718,458 227,906 559,913 (476 ) (379,759 ) 2,174,556 Adjusted operating profit (loss) from continuing operations (14,193 ) 109,763 36,170 4,722 (4,462 ) (46,873 ) 902 86,029 Total assets as of August 31, 2016* 188,873 798,481 659,165 372,492 564,068 1,034,053 (493,050 ) 3,124,082 _________________ * Excludes total assets from discontinued operations of $1.0 million at February 28, 2017 and $6.8 million at August 31, 2016 .
Reconciliations of earnings from continuing operations to adjusted operating profit	Reconciliations of earnings from continuing operations to adjusted operating profit from continuing operations are provided below: Three Months Ended Six Months Ended (in thousands) February 28, 2017 February 29, 2016 February 28, 2017 February 29, 2016 Earnings from continuing operations $ 29,639 $ 10,849 $ 36,813 $ 36,482 Income taxes 9,990 2,064 12,643 13,836 Interest expense 12,442 16,625 25,740 34,929 Discounts on sales of accounts receivable 200 430 427 782 Adjusted operating profit from continuing operations $ 52,271 $ 29,968 $ 75,623 $ 86,029

ACCUMULATED OTHER COMPREHENSI36

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (134,512)	$ (135,658)	$ (112,914)	$ (113,535)
Other comprehensive income (loss) before reclassifications	9,861	4,705	(11,538)	(17,299)
Amounts reclassified from AOCI	(339)	(58)	(538)	(177)
Other comprehensive income (loss)	9,522	4,647	(12,076)	(17,476)
Ending balance	(124,990)	(131,011)	(124,990)	(131,011)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(133,786)	(135,076)	(112,255)	(113,081)
Other comprehensive income (loss) before reclassifications	9,551	4,211	(11,980)	(17,784)
Amounts reclassified from AOCI	0	0	0	0
Other comprehensive income (loss)	9,551	4,211	(11,980)	(17,784)
Ending balance	(124,235)	(130,865)	(124,235)	(130,865)
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	2,128	2,178	2,186	2,305
Other comprehensive income (loss) before reclassifications	310	494	442	485
Amounts reclassified from AOCI	(330)	(56)	(520)	(174)
Other comprehensive income (loss)	(20)	438	(78)	311
Ending balance	2,108	2,616	2,108	2,616
Defined Benefit Obligation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(2,854)	(2,760)	(2,845)	(2,759)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI	(9)	(2)	(18)	(3)
Other comprehensive income (loss)	(9)	(2)	(18)	(3)
Ending balance	$ (2,863)	$ (2,762)	$ (2,863)	$ (2,762)

ACCUMULATED OTHER COMPREHENSI37

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassification from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Unrealized gain (loss) on derivatives:
Income tax effect	$ (64)	$ (28)	$ (111)	$ (77)
Net of income taxes	330	56	520	174
Unrealized gain (loss) on derivatives
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	394	84	631	251
Income tax effect	(64)	(28)	(111)	(77)
Net of income taxes	330	56	520	174
Unrealized gain (loss) on derivatives | Commodity | Cost of goods sold
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	(33)	(59)	(125)	(110)
Unrealized gain (loss) on derivatives | Foreign exchange | Cost of goods sold
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	(172)	426	(44)	418
Unrealized gain (loss) on derivatives | Foreign exchange | Net sales
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	329	(450)	244	(393)
Unrealized gain (loss) on derivatives | Foreign exchange | SG&A expenses
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	138	35	290	70
Unrealized gain (loss) on derivatives | Interest rate | Interest expense
Unrealized gain (loss) on derivatives:
Reclassification adjustments from AOCI on derivatives, before tax	132	132	266	266
Defined benefit obligation
Defined benefit obligation:
Income tax effect	(2)	0	(4)	(1)
Net of income taxes	9	2	18	3
Defined benefit obligation | SG&A expenses
Defined benefit obligation:
Amortization of prior services	$ 11	$ 2	$ 22	$ 4

SALES OF ACCOUNTS RECEIVABLE (N

SALES OF ACCOUNTS RECEIVABLE (Narrative) (Details) $ in Thousands, PLN in Millions	Jul. 29, 2016USD ($)	Feb. 28, 2017PLN	Feb. 28, 2017USD ($)	Feb. 29, 2016USD ($)	Feb. 28, 2017USD ($)financial_institution	Feb. 29, 2016USD ($)	Aug. 31, 2016USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Cash proceeds from sales of accounts receivable programs					$ 178,800	$ 202,100
Cash payments to the owners of accounts receivable					183,900	190,600
Discounts on sales of accounts receivable			$ 200	$ 430	$ 427	782
Discounts on sales of accounts receivable, including discontinued operations				$ 500		$ 900
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
Number of financial institutions | financial_institution					2
Maximum advance limit for accounts receivable sold					$ 300,000
Trade accounts receivable sold			262,300		262,300		$ 215,900
Advance payment received on sale of trade account receivable			0		0		0
Polish 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 220	54,000
Trade accounts receivable sold			56,900		$ 56,900
Advances, maximum percentage of eligible receivables					90.00%
Polish and Australian programs
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Trade accounts receivable sold							85,700
Advance payment received on sale of trade account receivable			$ 3,200		$ 3,200		$ 8,300

SALES OF ACCOUNTS RECEIVABLE (A

SALES OF ACCOUNTS RECEIVABLE (Activity of Deferred Purchase Price Receivables) (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Feb. 28, 2017		Feb. 29, 2016		Feb. 28, 2017		Feb. 29, 2016
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance						$ 765,784
Transfers of accounts receivable				$ 11,100		0		$ 23,400
Collections				(11,900)		(3,700)		(36,800)
Program termination						1,600
Ending balance		$ 774,286				774,286
Deferred purchase price receivables
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance		261,521		228,862		289,748		339,547
Transfers of accounts receivable		643,478		537,774		1,200,442		1,126,193
Collections		(592,553)		(534,762)		(1,143,827)		(1,233,866)
Program termination						(33,917)
Ending balance		312,446		231,874		312,446		231,874
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		215,717		196,130		212,762		269,778
Transfers of accounts receivable		561,010		432,900		1,031,155		919,423
Collections		(518,008)		(435,995)		(985,198)		(996,166)
Program termination						0
Ending balance		258,719		193,035		258,719		193,035
Deferred purchase price receivables | Australia
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance				15,286	[1]	26,662	[2]	18,038	[3]
Transfers of accounts receivable				37,256	[1]	16,914	[2]	83,330	[3]
Collections				(39,159)	[1]	(9,659)	[2]	(87,985)	[3]
Program termination	[2]					(33,917)
Ending balance		0	[2]	13,383	[1],[3]	0	[2]	13,383	[1],[3]
Deferred purchase price receivables | Poland
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance		45,804		17,446		50,324		51,731
Transfers of accounts receivable		82,468		67,618		152,373		123,440
Collections		(74,545)		(59,608)		(148,970)		(149,715)
Program termination						0
Ending balance		$ 53,727		$ 25,456		$ 53,727		$ 25,456
[1]	Includes the sales of accounts receivable activities related to businesses held for sale (transfers of accounts receivable of $11.1 million and collections of $11.9 million for the three months ended February 29, 2016).
[2]	Includes the sales of trade accounts receivable activities related to discontinued operations and businesses sold. For the six months ended February 28, 2017, there were no transfers of trade accounts receivable, collections of $3.7 million and program termination of $1.6 million.
[3]	Includes the sales of trade accounts receivable activities related to discontinued operations and businesses held for sale. For the six months ended February 29, 2016, transfers of trade accounts receivable were $23.4 million and collections were $36.8 million.

INVENTORIES, NET (Narrative) (D

INVENTORIES, NET (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Inventory Disclosure [Abstract]
Percentage of Weighted Average Cost Inventory	65.00%		65.00%
Percentage of Specific Identification Cost Inventory	35.00%		35.00%
Raw materials	$ 113,000		$ 113,000		$ 77,900
Inventory write-down	$ 700	$ 5,300	$ 1,205	$ 7,949

GOODWILL AND OTHER INTANGIBLE41

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amounts of the intangible assets subject to amortization	$ 19.8		$ 19.8		$ 18.6
Amortization expense for intangible assets	$ 0.7	$ 1	$ 1	$ 2.1

GOODWILL AND OTHER INTANGIBLE42

GOODWILL AND OTHER INTANGIBLE ASSETS (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	6 Months Ended
	Feb. 28, 2017USD ($)
Goodwill [Roll Forward]
Balance at August 31, 2016	$ 76,772
Acquisitions	306
Foreign currency translation	(156)
Balance at February 28, 2017	76,922
Foreign currency translation	(10,399)
Foreign currency translation	7
Accumulated impairment losses	(10,392)
Balance at August 31, 2016	66,373
Acquisitions	306
Foreign currency translation	(149)
Balance at February 28, 2017	66,530
Americas Recycling
Goodwill [Roll Forward]
Balance at August 31, 2016	9,751
Acquisitions	0
Foreign currency translation	0
Balance at February 28, 2017	9,751
Foreign currency translation	(9,751)
Foreign currency translation	0
Accumulated impairment losses	(9,751)
Balance at August 31, 2016	0
Acquisitions	0
Foreign currency translation	0
Balance at February 28, 2017	0
Americas Mills
Goodwill [Roll Forward]
Balance at August 31, 2016	4,970
Acquisitions	0
Foreign currency translation	0
Balance at February 28, 2017	4,970
Foreign currency translation	0
Foreign currency translation	0
Accumulated impairment losses	0
Balance at August 31, 2016	4,970
Acquisitions	0
Foreign currency translation	0
Balance at February 28, 2017	4,970
Americas Fabrication
Goodwill [Roll Forward]
Balance at August 31, 2016	57,637
Acquisitions	306
Foreign currency translation	0
Balance at February 28, 2017	57,943
Foreign currency translation	(493)
Foreign currency translation	0
Accumulated impairment losses	(493)
Balance at August 31, 2016	57,144
Acquisitions	306
Foreign currency translation	0
Balance at February 28, 2017	57,450
International Mill
Goodwill [Roll Forward]
Balance at August 31, 2016	2,432
Acquisitions	0
Foreign currency translation	(98)
Balance at February 28, 2017	2,334
Foreign currency translation	(155)
Foreign currency translation	7
Accumulated impairment losses	(148)
Balance at August 31, 2016	2,277
Acquisitions	0
Foreign currency translation	(91)
Balance at February 28, 2017	2,186
International Marketing and Distribution
Goodwill [Roll Forward]
Balance at August 31, 2016	1,982
Acquisitions	0
Foreign currency translation	(58)
Balance at February 28, 2017	1,924
Foreign currency translation	0
Foreign currency translation	0
Accumulated impairment losses	0
Balance at August 31, 2016	1,982
Acquisitions	0
Foreign currency translation	(58)
Balance at February 28, 2017	$ 1,924

CHANGES IN BUSINESS (Financial

CHANGES IN BUSINESS (Financial Information for Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Business Combinations [Abstract]
Net sales	$ 1	$ 9,953	$ (22)	$ 21,507
Earnings (loss) from discontinued operations before income taxes (benefit)	$ 726	$ (446)	$ (191)	$ (1,018)

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 29, 2016USD ($)	Feb. 28, 2017USD ($)	Feb. 29, 2016USD ($)	Feb. 28, 2017USD ($)	Feb. 29, 2016USD ($)	Aug. 31, 2012USD ($)	Feb. 28, 2017PLN	Feb. 28, 2017USD ($)	Aug. 31, 2016PLN	Aug. 31, 2016USD ($)	Aug. 31, 2014USD ($)	May 31, 2013USD ($)	May 31, 2011	May 31, 2010	Aug. 31, 2008USD ($)	Jul. 31, 2007USD ($)
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt		$ 0	$ (11,365,000)	$ 0	$ (11,365,000)
Net proceeds from termination of interest rate swaps						$ 52,700,000
Unamortized deferred gain on termination of interest rate swaps								$ 7,800,000		$ 11,600,000
Amortization of interest rate swaps termination gain		(1,900,000)	(1,900,000)	(3,798,000)	(3,798,000)
Interest capitalized		2,100,000	500,000	3,700,000	1,000,000
Interest paid		$ 24,700,000	31,900,000	33,100,000	40,900,000
CMCP
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity							PLN 175,000,000	43,000,000	PLN 175,000,000	44,800,000
Total borrowing				0
Total payments				$ 0
2023 Notes
Debt Instrument [Line Items]
Debt instrument, face amount												$ 330,000,000
Debt instrument, interest rate, stated percentage												4.875%
Debt instrument, maturity date				May 15, 2023
2018 Notes
Debt Instrument [Line Items]
Debt instrument, face amount															$ 500,000,000
Debt instrument, interest rate, stated percentage															7.35%
Debt instrument, maturity date				August 2,018
Debt instrument, effective interest rate														6.40%
Debt repurchased as a result of cash tender offer	$ 100,200,000
Gain (Loss) on Extinguishment of Debt			6,000,000		6,000,000
2017 Notes
Debt Instrument [Line Items]
Debt instrument, face amount																$ 400,000,000
Debt instrument, interest rate, stated percentage																6.50%
Debt instrument, maturity date				July 2,017
Debt instrument, effective interest rate													5.74%
Debt repurchased as a result of cash tender offer	$ 100,000,000
Gain (Loss) on Extinguishment of Debt			$ 5,400,000		$ 5,400,000
Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity											$ 350,000,000
Revolving credit facility, maturity date				Jun. 26, 2019
Revolving credit facility, maximum borrowing capacity											500,000,000
Revolving credit facility, amount drawn								0		$ 0
Minimum interest coverage ratio				2.50
Maximum debt to capitalization ratio				0.60
Minimum liquidity required								$ 150,000,000
Actual interest coverage ratio							5.65	5.65
Actual debt to capitalization ratio							0.44	0.44
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								$ 3,000,000

CREDIT ARRANGEMENTS (Long-term

CREDIT ARRANGEMENTS (Long-term Debt, Including the Deferred Gain from the Termination of the Interest Rate Swaps) (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Aug. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 1,068,033	$ 1,075,641
Less debt issuance costs	3,696	4,224
Total amounts outstanding	1,064,337	1,071,417
Less current maturities	312,200	313,469
Long-term debt	$ 752,137	757,948
2023 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.875%
Total debt	$ 330,000	330,000
2018 Notes
Debt Instrument [Line Items]
Weighted average interest rate	6.4047%
Total debt	$ 406,562	408,874
2017 Notes
Debt Instrument [Line Items]
Weighted average interest rate	5.7359%
Total debt	$ 301,115	302,601
Other, including equipment notes
Debt Instrument [Line Items]
Total debt	$ 30,356	$ 34,166

NEW MARKETS TAX CREDIT TRANSA46

NEW MARKETS TAX CREDIT TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Feb. 28, 2017	Feb. 28, 2017	Aug. 31, 2016
Income Tax Contingency [Line Items]
Capital contribution received under new markets tax program		$ 17.7
Payments for qualified construction, development and equipping activities	$ 4.5	21
Restricted cash	0.7	0.7	$ 21.7
Commonwealth
Income Tax Contingency [Line Items]
Loans receivable	$ 35.3	$ 35.3
Loan receivable, interest rate	1.08%	1.08%
Investment Fund
Income Tax Contingency [Line Items]
Qualified equity investment into community development entities		$ 51.5
Qualified Equity Investment Loans | CMC Steel Oklahoma, LLC
Income Tax Contingency [Line Items]
Loans payable	$ 50.7	$ 50.7

DERIVATIVES AND RISK MANAGEME47

DERIVATIVES AND RISK MANAGEMENT (Narrative) (Details) - USD ($) $ in Millions	Feb. 28, 2017	Feb. 29, 2016
Foreign exchange
Derivative [Line Items]
Derivative notional amount	$ 256.4	$ 296.5
Commodity
Derivative [Line Items]
Derivative notional amount	$ 36.3	$ 30.1

DERIVATIVES AND RISK MANAGEME48

DERIVATIVES AND RISK MANAGEMENT (Commodity Contract Commitments) (Details)	6 Months Ended
	Feb. 28, 2017t
Aluminum | Long
Derivative [Line Items]
Commodity contract commitments	2,630
Aluminum | Short
Derivative [Line Items]
Commodity contract commitments	325
Copper | Long
Derivative [Line Items]
Commodity contract commitments	419
Copper | Short
Derivative [Line Items]
Commodity contract commitments	4,808
Zinc | Long
Derivative [Line Items]
Commodity contract commitments	15

DERIVATIVES AND RISK MANAGEME49

DERIVATIVES AND RISK MANAGEMENT (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ (849)	$ 10,298	$ (1,437)	$ 17,739
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	(146)	(224)	(4,775)	1,948
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	(25)	31	(33)	81
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	0	(4)	0	(4)
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ (678)	$ 10,495	$ 3,371	$ 15,714

DERIVATIVES AND RISK MANAGEME50

DERIVATIVES AND RISK MANAGEMENT (Derivatives Designated as Fair Value Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	$ (1,627)	$ 122	$ (563)	$ (728)
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	66	(61)	44	83
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	$ (1,693)	$ 183	$ (607)	$ (811)

DERIVATIVES AND RISK MANAGEME51

DERIVATIVES AND RISK MANAGEMENT (Hedged Items Designated as Fair Value Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for hedged items of fair value hedges	$ 1,627	$ (121)	$ 563	$ 728
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for hedged items of fair value hedges	(66)	62	(44)	(83)
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for hedged items of fair value hedges	$ 1,693	$ (183)	$ 607	$ 811

DERIVATIVES AND RISK MANAGEME52

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	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	$ 310	$ 494	$ 442	$ 485
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	118	253	217	(224)
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	$ 192	$ 241	$ 225	$ 709

DERIVATIVES AND RISK MANAGEME53

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	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Income taxes	$ (64)	$ (28)	$ (111)	$ (77)
Gain, net of income taxes	330	56	520	174
Unrealized Gain (Loss) on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	394	84	631	251
Income taxes	(64)	(28)	(111)	(77)
Gain, net of income taxes	330	56	520	174
Unrealized Gain (Loss) on Derivatives | Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	(33)	(59)	(125)	(110)
Unrealized Gain (Loss) on Derivatives | Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	(172)	426	(44)	418
Unrealized Gain (Loss) on Derivatives | Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	329	(450)	244	(393)
Unrealized Gain (Loss) on Derivatives | Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	138	35	290	70
Unrealized Gain (Loss) on Derivatives | Interest rate | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges reclassified from AOCI	$ 132	$ 132	$ 266	$ 266

DERIVATIVES AND RISK MANAGEME54

DERIVATIVES AND RISK MANAGEMENT (Derivative Assets) (Details) - USD ($) $ in Thousands		Feb. 28, 2017	Aug. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	[1]	$ 2,247	$ 2,736
Commodity | Designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		170	4
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		277	584
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		631	1,398
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		$ 1,169	$ 750
[1]	Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

DERIVATIVES AND RISK MANAGEME55

DERIVATIVES AND RISK MANAGEMENT (Derivative Liabilities) (Details) - USD ($) $ in Thousands		Feb. 28, 2017	Aug. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	[1]	$ 2,090	$ 2,185
Commodity | Designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		0	5
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		595	117
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		718	902
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		$ 777	$ 1,161
[1]	Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details)	6 Months Ended
	Feb. 28, 2017levels
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) - Fair value, measurements, recurring - USD ($) $ in Thousands		Feb. 28, 2017	Aug. 31, 2016
Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[1]	$ 290,329	$ 278,759
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	447	588
Derivative liabilities	[2]	595	122
Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	1,800	2,148
Derivative liabilities	[2]	1,495	2,063
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[1]	290,329	278,759
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	277	584
Derivative liabilities	[2]	595	117
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	0	0
Derivative liabilities	[2]	0	0
Significant Other Observable Inputs (Level 2) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[1]	0	0
Significant Other Observable Inputs (Level 2) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	170	4
Derivative liabilities	[2]	0	5
Significant Other Observable Inputs (Level 2) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	1,800	2,148
Derivative liabilities	[2]	1,495	2,063
Significant Unobservable Inputs (Level 3) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[1]	0	0
Significant Unobservable Inputs (Level 3) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	0	0
Derivative liabilities	[2]	0	0
Significant Unobservable Inputs (Level 3) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	0	0
Derivative liabilities	[2]	$ 0	$ 0
[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 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 9, Derivatives and Risk Management.

FAIR VALUE (Financial Assets 58

FAIR VALUE (Financial Assets and Liabilities Not Required to Be Measured at Fair Value) (Details) - USD ($) $ in Thousands		Feb. 28, 2017	Aug. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		$ 1,068,033	$ 1,075,641
2023 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		330,000	330,000
2023 Notes | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		330,000	330,000
2023 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	335,775	332,010
2018 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		406,562	408,874
2018 Notes | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		406,562	408,874
2018 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	430,304	432,303
2017 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		301,115	302,601
2017 Notes | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		301,115	302,601
2017 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	[1]	$ 305,250	$ 311,250
[1]	The fair value of the notes is determined based on indicated market values.

INCOME TAX (Narrative) (Details

INCOME TAX (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Operating Loss Carryforwards [Line Items]
Effective income tax rate from continuing operations	25.20%	16.00%	25.60%	27.50%
Statutory income tax rate			35.00%	35.00%
Net income tax payments			$ 11.8	$ 23.5
Unrecognized income tax benefits	$ 9.5		9.5		$ 9.5
Possible unrecognized income tax benefits decrease during the next twelve months	9.5		9.5
Unrecognized income tax benefits that would reduce provisions for income taxes	$ 9.5		$ 9.5
Poland
Operating Loss Carryforwards [Line Items]
Statutory income tax rate			19.00%

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses from stock modification and increase in value	$ 0.8		$ 4.7
Share-based compensation expense	$ 8	$ 6.8	$ 16.2	$ 13.1
Restricted stock units and performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			900,000	1,600,000
Weighted average grant-date fair value			$ 16.04	$ 15.83
Liability awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			914,545	464,782
Equivalent shares outstanding	2,150,652		2,150,652
Equivalent shares expected to vest	2,100,000		2,100,000
Fiscal 2015 | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years			3 years
Fiscal 2015 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years			3 years

STOCKHOLDERS_ EQUITY AND EARN61

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Nov. 30, 2014
Earnings Per Share [Abstract]
Stock repurchase program, authorized amount					$ 100,000,000
Stock repurchase program, shares purchased (shares)	0	1,938,983	0	2,255,069
Stock repurchase program, average purchase price per share (in USD per share)		$ 13.43		$ 13.57
Stock repurchase program, remaining authorized repurchase amount	$ 27,600,000		$ 27,600,000

STOCKHOLDERS_ EQUITY AND EARN62

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Calculations of the Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Earnings Per Share [Abstract]
Earnings from continuing operations attributable to CMC	$ 29,639	$ 10,849	$ 36,813	$ 36,482
Basic earnings per share:
Shares outstanding for basic earnings per share (shares)	115,736,369	115,429,550	115,415,662	115,725,896
Basic earnings per share attributable to CMC: (in USD per share)	$ 0.25	$ 0.09	$ 0.32	$ 0.32
Diluted earnings per share:
Shares outstanding for basic earnings per share (shares)	115,736,369	115,429,550	115,415,662	115,725,896
Effect of dilutive securities:
Stock-based incentive/purchase plans (shares)	1,383,839	1,078,041	1,592,296	1,276,926
Shares outstanding for diluted earnings per share (shares)	117,120,208	116,507,591	117,007,958	117,002,822
Diluted earnings per share attributable to CMC: (in USD per share)	$ 0.25	$ 0.09	$ 0.31	$ 0.31
Anti-dilutive shares not included above (shares)	0	714,342	0	714,342

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Feb. 28, 2017	Aug. 31, 2016
Loss Contingencies [Line Items]
Inventory as percentage of total purchase obligations (percent)	75.00%
Accrual for environmental loss contingencies	$ 3.2	$ 3.3
Accrued environmental loss contingencies, noncurrent	2.1	2.1
CERCLA sites
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 0.7	$ 0.7

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future Purchase Obligations (Details) $ in Thousands	Feb. 28, 2017USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]
2,018	$ 749,005
2,019	105,952
2,020	55,720
2,021	39,586
2,022	3,935
Thereafter	6,989
Total	$ 961,187

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	6 Months Ended
	Feb. 28, 2017segments
Segment Reporting [Abstract]
Number of operating segments	5

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		6 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Segment Reporting Information [Line Items]
Net sales		$ 1,149,621	$ 1,019,697
Adjusted operating profit (loss) from continuing operations		52,271	29,968	$ 75,623	$ 86,029
Total assets		3,131,833		3,131,833		$ 3,130,869
Continuing Operations
Segment Reporting Information [Line Items]
Net sales		1,149,621	1,019,697	2,224,684	2,174,556
Adjusted operating profit (loss) from continuing operations		52,271	29,968	75,623	86,029
Total assets	[1]	3,130,874		3,130,874		3,124,082
Americas Recycling
Segment Reporting Information [Line Items]
Net sales		188,502	119,641	342,864	274,477
Adjusted operating profit (loss) from continuing operations		7,766	(7,645)	2,668	(14,193)
Total assets	[1]	214,630		214,630		188,873
Americas Mills
Segment Reporting Information [Line Items]
Net sales		220,607	189,549	423,938	407,190
Adjusted operating profit (loss) from continuing operations		51,319	50,699	88,268	109,763
Total assets	[1]	865,428		865,428		798,481
Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		301,382	333,961	636,659	713,442
Adjusted operating profit (loss) from continuing operations		506	14,825	7,217	36,170
Total assets	[1]	657,917		657,917		659,165
International Mill
Segment Reporting Information [Line Items]
Net sales		134,125	107,458	268,315	227,906
Adjusted operating profit (loss) from continuing operations		9,430	1,951	19,403	4,722
Total assets	[1]	389,184		389,184		372,492
International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales		301,163	271,955	547,316	552,017
Adjusted operating profit (loss) from continuing operations		6,143	(2,293)	5,177	(4,462)
Total assets	[1]	591,769		591,769		564,068
Corporate
Segment Reporting Information [Line Items]
Net sales		3,842	(2,867)	5,592	(476)
Adjusted operating profit (loss) from continuing operations		(22,317)	(28,801)	(46,330)	(46,873)
Total assets	[1]	935,452		935,452		1,034,053
Eliminations
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Adjusted operating profit (loss) from continuing operations		(576)	1,232	(780)	902
Total assets	[1]	(523,506)		(523,506)		(493,050)
Segments | Continuing Operations
Segment Reporting Information [Line Items]
Net sales		1,149,621	1,019,697	2,224,684	2,174,556
Segments | Americas Recycling
Segment Reporting Information [Line Items]
Net sales		223,328	148,346	400,036	327,553
Segments | Americas Mills
Segment Reporting Information [Line Items]
Net sales		376,593	336,429	723,758	720,961
Segments | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		303,826	336,144	642,226	718,458
Segments | International Mill
Segment Reporting Information [Line Items]
Net sales		134,305	107,458	268,706	227,906
Segments | International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales		302,295	276,876	550,455	559,913
Segments | Corporate
Segment Reporting Information [Line Items]
Net sales		3,842	(2,867)	5,592	(476)
Segments | Eliminations
Segment Reporting Information [Line Items]
Net sales		(194,568)	(182,689)	(366,089)	(379,759)
Intersegment | Continuing Operations
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Intersegment | Americas Recycling
Segment Reporting Information [Line Items]
Net sales		34,826	28,705	57,172	53,076
Intersegment | Americas Mills
Segment Reporting Information [Line Items]
Net sales		155,986	146,880	299,820	313,771
Intersegment | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		2,444	2,183	5,567	5,016
Intersegment | International Mill
Segment Reporting Information [Line Items]
Net sales		180	0	391	0
Intersegment | International Marketing and Distribution
Segment Reporting Information [Line Items]
Net sales		1,132	4,921	3,139	7,896
Intersegment | Corporate
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Intersegment | Eliminations
Segment Reporting Information [Line Items]
Net sales		(194,568)	$ (182,689)	(366,089)	$ (379,759)
Discontinued operations
Segment Reporting Information [Line Items]
Disposal Group, Including Discontinued Operation, Assets		$ 1,000		$ 1,000		$ 6,800
[1]	Excludes total assets from discontinued operations of $1.0 million at February 28, 2017 and $6.8 million at August 31, 2016.

BUSINESS SEGMENTS (Reconciliati

BUSINESS SEGMENTS (Reconciliations of Earnings from Continuing Operations to Adjusted Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Segment Reporting [Abstract]
Earnings from continuing operations	$ 29,639	$ 10,849	$ 36,813	$ 36,482
Income taxes	9,990	2,064	12,643	13,836
Interest expense	12,442	16,625	25,740	34,929
Discounts on sales of accounts receivable	200	430	427	782
Adjusted operating profit from continuing operations	$ 52,271	$ 29,968	$ 75,623	$ 86,029