Commercial Metals (CMC) 10-Q 26 Mar 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Feb. 28, 2018	Mar. 22, 2018
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, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
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		117,004,438

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Income Statement [Abstract]
Net sales	$ 1,054,268	$ 862,298	$ 2,130,801	$ 1,715,226
Costs and expenses:
Cost of goods sold	927,101	725,051	1,860,617	1,461,590
Selling, general and administrative expenses	108,477	94,044	204,587	188,969
Interest expense	7,181	12,439	13,792	25,764
Total costs and expenses	1,042,759	831,534	2,078,996	1,676,323
Earnings from continuing operations before income taxes	11,509	30,764	51,805	38,903
Income taxes	1,728	7,772	10,153	10,225
Earnings from continuing operations	9,781	22,992	41,652	28,678
Earnings from discontinued operations before income taxes (benefit)	290	9,591	8,410	10,362
Income taxes (benefit)	(98)	2,251	3,082	2,433
Earnings from discontinued operations	388	7,340	5,328	7,929
Net earnings	$ 10,169	$ 30,332	$ 46,980	$ 36,607
Basic earnings per share attributable to CMC
Earnings from continuing operations (in USD per share)	$ 0.08	$ 0.20	$ 0.36	$ 0.25
Earnings (loss) from discontinued operations (in USD per share)	0	0.06	0.05	0.07
Net earnings (in USD per share)	0.09	0.26	0.40	0.32
Diluted earnings per share attributable to CMC
Earnings from continuing operations (in USD per share)	0.08	0.20	0.35	0.25
Earnings (loss) from discontinued operations (in USD per share)	0	0.06	0.05	0.07
Net earnings (in USD per share)	0.09	0.26	0.40	0.31
Cash dividends per share (in USD per share)	$ 0.12	$ 0.12	$ 0.24	$ 0.24
Average basic shares outstanding	116,808,838	115,736,369	116,524,630	115,415,662
Average diluted shares outstanding	118,269,721	117,120,208	118,149,815	117,007,958

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 10,169	$ 30,332	$ 46,980	$ 36,607
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustment	11,943	9,551	14,778	(11,980)
Net unrealized gain (loss) on derivatives:
Unrealized holding gain	14	310	25	442
Reclassification for gain included in net earnings	(74)	(330)	(180)	(520)
Net unrealized loss on derivatives	(60)	(20)	(155)	(78)
Defined benefit obligation:
Amortization of prior services	(7)	(9)	(13)	(18)
Reclassification for settlement losses	0	0	437	0
Defined benefit obligation	(7)	(9)	424	(18)
Other comprehensive income (loss)	11,876	9,522	15,047	(12,076)
Comprehensive income	$ 22,045	$ 39,854	$ 62,027	$ 24,531

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Current assets:
Cash and cash equivalents	$ 195,184	$ 252,595
Accounts receivable (less allowance for doubtful accounts of $4,524 and $4,146)	634,721	561,411
Inventories, net	523,409	462,648
Other current assets	118,437	140,136
Assets of businesses held for sale & discontinued operations	176,287	297,110
Total current assets	1,648,038	1,713,900
Property, plant and equipment:
Land	110,053	81,570
Buildings and improvements	603,379	512,715
Equipment	1,903,905	1,720,299
Construction in process	54,587	258,109
Property, plant and equipment, Gross	2,671,924	2,572,693
Less accumulated depreciation and amortization	(1,588,722)	(1,521,016)
Property, plant and equipment, Net	1,083,202	1,051,677
Goodwill	64,504	64,915
Other noncurrent assets	114,736	144,639
Total assets	2,910,480	2,975,131
Current liabilities:
Accounts payable-trade	247,586	226,456
Accrued expenses and other payables	213,220	274,972
Current maturities of long-term debt	18,958	19,182
Liabilities of businesses held for sale & discontinued operations	50,561	87,828
Total current liabilities	530,325	608,438
Deferred income taxes	18,929	49,160
Other long-term liabilities	109,919	111,023
Long-term debt	799,834	805,580
Total liabilities	1,459,007	1,574,201
Commitments and contingencies (Note 13)
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 116,825,668 and 115,793,736 shares	1,290	1,290
Additional paid-in capital	349,454	349,258
Accumulated other comprehensive loss	(66,466)	(81,513)
Retained earnings	1,382,791	1,363,806
Less treasury stock, 12,234,996 and 13,266,928 shares at cost	(215,782)	(232,084)
Stockholders' equity attributable to CMC	1,451,287	1,400,757
Stockholders' equity attributable to noncontrolling interests	186	173
Total stockholders' equity	1,451,473	1,400,930
Total liabilities and stockholders' equity	$ 2,910,480	$ 2,975,131

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,524	$ 4,146
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	116,825,668	115,793,736
Treasury stock, shares	12,234,996	13,266,928

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Cash flows from (used by) operating activities:
Net earnings	$ 46,980	$ 36,607
Adjustments to reconcile net earnings to cash flows from (used by) operating activities:
Depreciation and amortization	66,316	60,789
Stock-based compensation	13,338	16,156
Amortization of interest rate swaps termination gain	12,774	553
Deferred income taxes & other long-term taxes	(9,420)	(9,380)
Net (gain) loss on disposals of assets and other	2,048	1,381
Provision for losses on receivables, net	1,296	1,205
Net (gain) loss on disposals of assets and other	518	(195)
Amortization of interest rate swaps termination gain	0	(3,798)
Changes in operating assets and liabilities	(85,063)	(91,335)
Net cash flows from operating activities	48,787	11,983
Cash flows from (used by) investing activities:
Capital expenditures	(101,028)	(90,808)
Proceeds from settlement of life insurance policies	25,000	0
Decrease in restricted cash, net	13,996	21,033
Acquisitions	(6,980)	(25,366)
Proceeds from the sale of subsidiaries	7,406	524
Proceeds from the sale of property, plant and equipment and other	631	700
Net cash flows used by investing activities	(60,975)	(93,917)
Cash flows from (used by) financing activities:
Cash dividends	(27,995)	(27,726)
Repayments on long-term debt	(10,106)	(6,148)
Stock issued under incentive and purchase plans, net of forfeitures	(7,394)	(5,408)
Contribution from noncontrolling interests	13	13
Increase (decrease) in documentary letters of credit, net	10	(5)
Net cash flows used by financing activities	(45,472)	(39,274)
Effect of exchange rate changes on cash	249	(790)
Decrease in cash and cash equivalents	(57,411)	(121,998)
Cash and cash equivalents at beginning of year	252,595	517,544
Cash and cash equivalents at end of period	195,184	395,546
Noncash activities:
Liabilities related to additions of property, plant and equipment	$ 30,374	$ 35,184

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock	Noncontrolling Interests
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
Beginning balance, treasury stock, shares at Aug. 31, 2016						(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)
Treasury stock acquired	0					$ 0
Treasury stock acquired, shares
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
Tax benefit from stock plans	0
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
Ending balance, treasury stock, shares at Feb. 28, 2017						(13,281,892)
Beginning balance at Aug. 31, 2017	$ 1,400,930	$ 1,290	349,258	(81,513)	1,363,806	$ (232,084)	173
Beginning balance, shares at Aug. 31, 2017	129,060,664	129,060,664
Beginning balance, treasury stock, shares at Aug. 31, 2017	(13,266,928)					(13,266,928)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 46,980				46,980
Other comprehensive income (loss)	15,047			15,047
Cash dividends ($0.24 per share)	(27,995)				(27,995)
Issuance of stock under incentive and purchase plans, net of forfeitures	(7,393)		(23,695)			$ 16,302
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,031,932
Stock-based compensation	8,643		8,643
Contribution of noncontrolling interest	13						13
Reclassification of share-based liability awards	15,248		15,248
Reclassification of share-based equity awards	0
Ending balance at Feb. 28, 2018	$ 1,451,473	$ 1,290	$ 349,454	$ (66,466)	$ 1,382,791	$ (215,782)	$ 186
Ending balance, shares at Feb. 28, 2018	129,060,664	129,060,664
Ending balance, treasury stock, shares at Feb. 28, 2018	(12,234,996)					(12,234,996)

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
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, 2018
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, 2017 ("2017 Form 10-K") 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 (loss), 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 2017 Form 10-K. The results of operations for the three and six month periods are not necessarily indicative of the results to be expected for the full fiscal year. Recently Issued Accounting Pronouncements In August 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-12, Derivatives and Hedging (Topic 815). The ASU better aligns accounting rules with a company's risk management activities; better reflects economic results of hedging in financial statements; and simplifies hedge accounting treatment. For public companies, this standard is effective for annual periods beginning after December 15, 2018, including interim periods within those periods. The standard must be applied to hedging relationships existing on the date of adoption, and the effect of adoption should be reflected as of the beginning of the fiscal year of adoption. 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 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 and will be effective for the Company beginning September 1, 2018, at which point the Company plans to adopt the standard. 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. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), and has modified the standard thereafter. The standard requires 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 has a project plan in place to address the effects of ASU 2016-02 and any modifications thereafter, including evaluation of the impact of this guidance on internal processes, internal controls, and 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 modified retrospective method. The Company believes there will not be a material impact on its statement of financial position, results of operations or cash flows in its Americas Mills, Americas Recycling or International Mill segments. Upon adoption of ASU 2014-09, for certain contracts within the Americas Fabrication segment in which revenue is currently recognized over time on a percentage of completion basis using a cost-to-cost measure of progress, the measure of progress will change to an output measure to align with the pattern of transfer of control on these contracts. 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 identifying and preparing to implement changes to its accounting policies, practices, and internal controls over financial reporting to support the standard both in the transition period as well as on an on-going basis.

CHANGES IN BUSINESS

CHANGES IN BUSINESS	6 Months Ended
	Feb. 28, 2018
Business Combinations [Abstract]
Changes in Business	NOTE 2. CHANGES IN BUSINESS Pending Acquisition On December 29, 2017, the Company entered into a definitive purchase agreement to acquire certain U.S. rebar steel mill and fabrication assets from Gerdau S.A., a producer of long and specialty steel products in the Americas for a cash purchase price of $600.0 million , subject to customary purchase price adjustments. The acquisition includes 33 rebar fabrication facilities in the U.S. as well as steel mills located in Knoxville, Tennessee; Jacksonville, Florida; Sayreville, New Jersey and Rancho Cucamonga, California, with annual melt capacity of 2.7 million tons, bringing the Company’s global melt capacity to approximately 7.2 million tons at the close of the transaction. The closing of the transaction is expected before calendar year-end 2018 and is subject to the satisfaction or waiver of customary closing conditions, including customary regulatory review. The Company expects to fund the purchase price for the acquisition with cash on hand, term loans, borrowings under the Credit Agreement (as defined in Note 7 to these unaudited condensed consolidated financial statements) or another credit facility, or the proceeds from an offering of one or more series of debt securities. Businesses Held for Sale On March 1, 2018, the Company entered into a definitive agreement to sell substantially all of the assets of its structural steel fabrication operations, which are part of the Americas Fabrication segment. This disposition does not meet the criteria for discontinued operations. The assets and liabilities related to these operations are included as assets and liabilities of businesses held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below. (in thousands) February 28, 2018 August 31, 2017* Assets: Accounts receivable $ 38,846 $ 38,279 Inventories, net 8,311 10,676 Other current assets 35 77 Assets of businesses held for sale & discontinued operations $ 47,192 $ 49,032 Liabilities: Accounts payable-trade $ 15,667 $ 13,108 Accrued expenses and other payables 10,424 16,785 Liabilities of businesses held for sale & discontinued operations $ 26,091 $ 29,893 * At August 31, 2017, $8.8 million of property, plant, and equipment, net of accumulated depreciation and amortization is included in other noncurrent assets on the unaudited condensed consolidated balance sheets. Discontinued Operations In June 2017, the Company announced a plan to exit its International Marketing and Distribution segment, including its trading operations in the U.S., Asia, and Australia. As an initial step in this plan, on August 31, 2017, the Company completed the sale of its raw materials business, CMC Cometals. Additionally, during the second quarter of fiscal 2018, the remaining operations related to the Company's steel trading business in the U.S. and Asia were substantially wound down. Finally, on March 1, 2018, the Company sold certain assets and liabilities of its Australian steel trading business. The results of these activities are included in discontinued operations in the consolidated statements of earnings for all periods presented. With the conclusion of operations in this segment, any activities carried out within the segment are no longer of ongoing significance; accordingly, segment data with respect to International Marketing and Distribution activities will no longer be reported. See Note 14, Business Segments, for further discussion of the exit of the International Marketing and Distribution segment. The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings, which primarily relate to International Marketing and Distribution activities, are presented in the table below. Three Months Ended February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Net sales $ 139,011 $ 287,323 $ 301,122 $ 509,436 Costs and expenses: Cost of goods sold 130,687 265,380 272,138 471,919 Selling, general and administrative expenses 8,034 12,350 20,660 27,180 Interest expense — 2 (86 ) (25 ) Earnings before income taxes 290 9,591 8,410 10,362 Income taxes (benefit) (98 ) 2,251 3,082 2,433 Earnings from discontinued operations $ 388 $ 7,340 $ 5,328 $ 7,929 Components of the International Marketing and Distribution segment meeting the criteria for discontinued operations have been re-classified as assets and liabilities of business held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below. (in thousands) February 28, 2018 August 31, 2017* Assets: Accounts receivable $ 72,723 $ 106,905 Inventories, net 49,106 141,135 Other current assets 6,934 38 Property, plant and equipment, net of accumulated depreciation and amortization 332 — Assets of businesses held for sale & discontinued operations $ 129,095 $ 248,078 Liabilities: Accounts payable-trade $ 11,947 $ 42,563 Accrued expenses and other payables 12,523 15,372 Liabilities of businesses held for sale & discontinued operations $ 24,470 $ 57,935 * Property, plant, and equipment, net of accumulated depreciation and amortization of $0.8 million at August 31, 2017 is included in other noncurrent assets on the unaudited condensed consolidated balance sheets. There were no material operating or investing non-cash items for discontinued operations for the six months ended February 28, 2018 and 2017.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Feb. 28, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income (loss)	NOTE 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"): Three Months Ended February 28, 2018 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2017 $ (77,943 ) $ 1,492 $ (1,891 ) $ (78,342 ) Other comprehensive income before reclassifications 11,943 18 — 11,961 Amounts reclassified from AOCI — (97 ) (9 ) (106 ) Income taxes — 19 2 21 Net other comprehensive income (loss) 11,943 (60 ) (7 ) 11,876 Balance, February 28, 2018 $ (66,000 ) $ 1,432 $ (1,898 ) $ (66,466 ) Six Months Ended February 28, 2018 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2017 $ (80,778 ) $ 1,587 $ (2,322 ) $ (81,513 ) Other comprehensive income before reclassifications 14,778 31 — 14,809 Amounts reclassified from AOCI — (243 ) 656 413 Income taxes — 57 (232 ) (175 ) Net other comprehensive income (loss) 14,778 (155 ) 424 15,047 Balance, February 28, 2018 $ (66,000 ) $ 1,432 $ (1,898 ) $ (66,466 ) 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 ) Items reclassified out of AOCI were not material for the three and six months ended February 28, 2018 and 2017 , thus the corresponding line items in the unaudited condensed consolidated statements of earnings to which the items were reclassified are not presented.

SALES OF ACCOUNTS RECEIVABLE

SALES OF ACCOUNTS RECEIVABLE	6 Months Ended
	Feb. 28, 2018
Transfers and Servicing [Abstract]
Sales of accounts receivable	NOTE 4. SALES OF ACCOUNTS RECEIVABLE For added flexibility with the Company's liquidity, we may sell certain trade accounts receivable both in the U.S. and internationally. CMC has a $200.0 million U.S. sale of trade accounts receivable program which expires in August 2019. Under the program, CMC contributes, and certain 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 the Company. CMCRV sells the trade accounts receivable in their entirety to two financial institutions. Under the 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 from operating activities on the Company's unaudited condensed 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 defaulted 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, 2018 and August 31, 2017 , under its U.S. sale of trade accounts receivable program, the Company had sold $246.7 million and $226.9 million of trade accounts receivable, respectively, to the financial institutions. At February 28, 2018 , the Company had no advance payments outstanding on the sale of its U.S. trade accounts receivable. At August 31, 2017 , the Company had $90.0 million in advance payments outstanding on the sale of its U.S. trade accounts receivable. In addition to the U.S. sale of trade accounts receivable program described above, the Company's international subsidiaries in Poland sell, and previously in 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 ("PLN") ( $64.2 million as of February 28, 2018 ) 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 from operating activities on the Company's unaudited condensed consolidated statements of cash flows. During the first quarter of fiscal 2017, the Company's Australian program expired, and the Company did not enter into a new program. At February 28, 2018 and August 31, 2017 , under its Polish program, the Company sold $91.3 million and $79.5 million of trade accounts receivable, respectively, to the third-party financial institution. At both February 28, 2018 and August 31, 2017 , the Company had no advance payments outstanding on the sales of its Polish trade accounts receivable. During the six months ended February 28, 2018 and 2017 , cash proceeds from the U.S. and international sale of trade accounts receivable programs were $1.4 million and $178.8 million , respectively, and cash payments to the owners of trade accounts receivable were $91.4 million and $183.9 million , respectively. For a nominal servicing fee, the Company is responsible for servicing the trade accounts receivable for the U.S. program. Discounts on U.S. and international sales of trade accounts receivable were $0.2 million and $0.5 million for the three and six months ended February 28, 2018 , respectively, and $0.2 million and $0.4 million for the three and six months ended February 28, 2017 , respectively, and are included in selling, general and administrative expenses in the Company's unaudited condensed consolidated statements of earnings. As of February 28, 2018 and August 31, 2017 , the deferred purchase price on the Company's U.S. and international sale of trade accounts receivable programs was 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, 2018 (in thousands) Total U.S.* Poland Beginning balance $ 293,376 $ 221,034 $ 72,342 Transfers of accounts receivable 689,004 551,757 137,247 Collections (646,168 ) (527,907 ) (118,261 ) Ending balance $ 336,212 $ 244,884 $ 91,328 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $40.6 million and collections of $105.8 million for the three months ended February 28, 2018. Six Months Ended February 28, 2018 (in thousands) Total U.S.* Poland Beginning balance $ 215,123 $ 135,623 $ 79,500 Transfers of accounts receivable 1,345,646 1,087,650 257,996 Collections (1,224,557 ) (978,389 ) (246,168 ) Ending balance $ 336,212 $ 244,884 $ 91,328 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $136.7 million and collections of $196.0 million for the six months ended February 28, 2018. 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 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $128.8 million and collections of $104.5 million for the three months ended February 28, 2017 . 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 sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $221.3 million and collections of $201.9 million for the six months ended February 28, 2017. ** All Australia trade accounts receivable activities are related to discontinued operations as of February 28, 2017.

INVENTORIES, NET

INVENTORIES, NET	6 Months Ended
	Feb. 28, 2018
Inventory Disclosure [Abstract]
Inventories, net	NOTE 5. INVENTORIES, NET The majority of the Company's inventories are in the form of semi-finished and finished goods. The Company’s business model 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. As such, work in process inventories were not material at February 28, 2018 and August 31, 2017 . At February 28, 2018 and August 31, 2017 , $156.4 million and $116.8 million , respectively, of the Company's inventories were in the form of raw materials.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Feb. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS The following table details the changes in the carrying amount of goodwill by reportable segment: (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other* Consolidated Goodwill, gross Balance at August 31, 2017 $ 9,751 $ 4,970 $ 57,943 $ 2,664 $ 1,982 $ 77,310 Acquisitions — — — — — — Foreign currency translation — — — 110 — 110 Impairment — — (514 ) — — (514 ) Reclassification to assets of discontinued operations — — — — (1,982 ) (1,982 ) Balance at February 28, 2018 $ 9,751 $ 4,970 $ 57,429 $ 2,774 $ — $ 74,924 Accumulated impairment losses Balance at August 31, 2017 $ (9,751 ) $ — $ (493 ) $ (169 ) $ (1,982 ) $ (12,395 ) Foreign currency translation — — — (7 ) — (7 ) Reclassification to assets of discontinued operations — — — — 1,982 1,982 Balance at February 28, 2018 $ (9,751 ) $ — $ (493 ) $ (176 ) $ — $ (10,420 ) Goodwill, net Balance at August 31, 2017 $ — $ 4,970 $ 57,450 $ 2,495 $ — $ 64,915 Acquisitions — — — — — — Foreign currency translation — — — 103 — 103 Impairment — — (514 ) — — (514 ) Balance at February 28, 2018 $ — $ 4,970 $ 56,936 $ 2,598 $ — $ 64,504 * Other relates to goodwill for the International Marketing and Distribution segment which was moved to discontinued operations during the three months ended February 28, 2018. The total gross carrying amounts of the Company's intangible assets that are subject to amortization were $21.5 million and $19.7 million at February 28, 2018 and August 31, 2017 , respectively, and are included in other noncurrent assets on the Company's unaudited condensed consolidated balance sheets. As part of the Company's purchase of substantially all of the assets of MMFX Technologies Corporation ("MMFX") during the first fiscal quarter of 2018, the Company acquired patents which were assigned a value of $7.0 million with a useful life of 7.5 years. See Note 2, Changes in Business, to the unaudited condensed consolidated financial statements included in the November 30, 2017 Quarterly Report on Form 10-Q for more information with respect to the MMFX acquisition. Intangible amortization expense from continuing operations was $0.6 million and $1.1 million for the three and six months ended February 28, 2018 , respectively, and $0.7 million and $0.9 million for the three and six months ended February 28, 2017 , respectively. The three and six months ended February 28, 2018 include goodwill impairment charges of $0.5 million related to the Company's sale of its structural steel fabrication assets as discussed in Note 2, Changes in Business. See Note 9, Fair Value, for further discussion related to the impairment. Excluding goodwill, there were no significant intangible assets with indefinite lives as of February 28, 2018 .

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	6 Months Ended
	Feb. 28, 2018
Debt Disclosure [Abstract]
Credit arrangements	NOTE 7. CREDIT ARRANGEMENTS Long-term debt was as follows: (in thousands) Weighted Average February 28, 2018 August 31, 2017 2027 Notes 5.375% $ 300,000 $ 300,000 2023 Notes 4.875% 330,000 330,000 2022 Term Loan 2.909% 146,250 150,000 Other, including equipment notes 49,608 52,077 Total debt 825,858 832,077 Less debt issuance costs 7,066 7,315 Total amounts outstanding 818,792 824,762 Less current maturities 18,958 19,182 Long-term debt $ 799,834 $ 805,580 In July 2017, the Company issued $300.0 million of 5.375% Senior Notes due July 2027 (the "2027 Notes"). Interest on the 2027 Notes is payable semiannually. 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. The Company has a $350.0 million revolving credit facility pursuant to the Fourth Amended and Restated Credit Agreement (the "Credit Agreement") and a senior secured term loan in the maximum principal amount of $150.0 million (the "2022 Term Loan"), each with a maturity date in June 2022 . The 2022 Term Loan was drawn upon on July 13, 2017. The Company is required to make quarterly payments on the 2022 Term Loan equal to 1.25% of the original principal amount. The maximum availability under the Credit Agreement, together with the 2022 Term Loan, can be increased to $750.0 million with bank approval. The Company's obligation under the Credit Agreement is collateralized by its U.S. inventory and U.S. fabrication receivables. The Credit Agreement's capacity includes $50.0 million for the issuance of stand-by letters of credit. On December 29, 2017, the Company entered into a fourth amendment to the Credit Agreement that provides a senior secured term loan B facility in the maximum principal amount of up to $600.0 million (the "Term Loan B Facility"). The Term Loan B Facility is available to fund all or a portion of the purchase price of the pending acquisition of certain assets of Gerdau S.A. (the "Contemplated Acquisition") and to pay certain fees and expenses in connection therewith. On February 21, 2018, the Company entered into a Fifth Amendment to the Fourth Amended and Restated Credit Agreement. This fifth amendment amends the Credit Agreement to provide for a coterminous delayed draw term loan A facility in the maximum aggregate principal amount of up to $200.0 million (the "2018 Term Loan"), the proceeds of which are required to be used to (i) finance the Contemplated Acquisition, (ii) repay certain existing indebtedness of Gerdau S.A. and its subsidiaries, and (iii) pay transaction fees and expenses related thereto. Once drawn, the Company is required to make quarterly payments on the 2018 Term Loan equal to 1.25% of the original principal amount. The 2018 Term Loan has a maturity date of June 2022. In connection with the 2018 Term Loan, the commitments under the Term Loan B Facility were reduced from $600.0 million to $400.0 million . The Company had no amounts drawn under the Credit Agreement at February 28, 2018 and August 31, 2017. The availability under the Credit Agreement was reduced by outstanding letters of credit of $3.3 million and $3.0 million at February 28, 2018 and August 31, 2017 , respectively. Under the Credit Agreement, the Company is required to comply with certain financial and non-financial covenants, including covenants to maintain: (i) an interest coverage ratio (consolidated EBITDA to consolidated interest expense, each as 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, each as defined in the Credit Agreement) that does not exceed 0.60 to 1.00. At February 28, 2018 , the Company's interest coverage ratio was 7.63 to 1.00, and the Company's debt to capitalization ratio was 0.36 to 1.00. 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, 2018 , the Company was in compliance with all covenants contained in its debt agreements. 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 February 28, 2018 and August 31, 2017 , CMC Poland Sp. z.o.o. ("CMCP") had uncommitted credit facilities with several banks of PLN 225 million ( $65.7 million ) and PLN 175.0 million ( $49.1 million ), respectively. As of February 28, 2018 , the uncommitted credit facilities have expiration dates ranging from March 2018 to November 2018, which CMCP intends to renew upon expiration. At February 28, 2018 and August 31, 2017 , no amounts were outstanding under these facilities. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees, and/or other financial assurance instruments, which totaled $2.8 million and $1.3 million at February 28, 2018 and August 31, 2017 , respectively. During the six months ended February 28, 2018 and 2017 , CMCP had no borrowings and no repayments under its uncommitted credit facilities. The Company capitalized $3.0 million and $6.8 million of interest in the cost of property, plant and equipment during the three and six months ended February 28, 2018 , respectively, and $2.1 million and $3.7 million for the three and six months ended February 28, 2017 , respectively. Cash paid for interest during the three and six months ended February 28, 2018 was $10.8 million and $20.2 million , respectively, and $24.7 million and $33.1 million during the three and six months ended February 28, 2017 , respectively.

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT	6 Months Ended
	Feb. 28, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and risk management	NOTE 8. 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, and (ii) foreign currency forward contracts that match the expected settlements for purchases and sales denominated in foreign currencies. At February 28, 2018 , the notional values of the Company's foreign currency contract commitments and its commodity contract commitments were $300.9 million and $55.3 million , respectively. 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. The following table provides information regarding the Company's commodity contract commitments as of February 28, 2018 : Commodity Long/Short Total Aluminum Long 2,650 MT Aluminum Short — MT Copper Long 1,009 MT Copper Short 5,999 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, 2018 and February 28, 2017 . 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 February 28, Six Months Ended February 28, Derivatives Not Designated as Hedging Instruments (in thousands) Location 2018 2017 2018 2017 Commodity Cost of goods sold $ (2 ) $ (146 ) $ 573 $ (4,775 ) Foreign exchange Cost of goods sold (31 ) (25 ) (50 ) (33 ) Foreign exchange SG&A expenses (1,729 ) (678 ) 651 3,371 Gain (loss) before income taxes $ (1,762 ) $ (849 ) $ 1,174 $ (1,437 ) 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. Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives for the three months ended February 28, Location of gain (loss) recognized in income on related hedged items Amount of gain (loss) recognized in income on related hedge items for the three months ended February 28, 2018 2017 2018 2017 Foreign exchange Net sales $ 8 $ 66 Net sales $ (8 ) $ (66 ) Foreign exchange Cost of goods sold (1,323 ) (1,693 ) Cost of goods sold 1,323 1,693 Gain (loss) before income taxes $ (1,315 ) $ (1,627 ) $ 1,315 $ 1,627 Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives for the six months ended February 28, Location of gain (loss) recognized in income on related hedged items Amount of gain (loss) recognized in income on related hedge items for the six months ended February 28, 2018 2017 2018 2017 Foreign exchange Net sales $ (229 ) $ 44 Net sales $ 229 $ (44 ) Foreign exchange Cost of goods sold 2,025 (607 ) Cost of goods sold (2,025 ) 607 Gain (loss) before income taxes $ 1,796 $ (563 ) $ (1,796 ) $ 563 Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in AOCI (in thousands) Three Months Ended February 28, Six Months Ended February 28, 2018 2017 2018 2017 Commodity $ — $ 118 $ — $ 217 Foreign exchange 14 192 25 225 Gain (loss), net of income taxes $ 14 $ 310 $ 25 $ 442 Refer to Note 3, Accumulated Other Comprehensive Income (Loss), of the unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for the effective portion of derivatives designated as cash flow hedging instruments reclassified from AOCI. 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, 2018 and August 31, 2017 . 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, 2018 August 31, 2017 Commodity — not designated for hedge accounting $ 1,070 $ 767 Foreign exchange — designated for hedge accounting 936 81 Foreign exchange — not designated for hedge accounting 2,851 1,286 Derivative assets (other current assets)* $ 4,857 $ 2,134 Derivative Liabilities (in thousands) February 28, 2018 August 31, 2017 Commodity — not designated for hedge accounting $ 289 $ 3,251 Foreign exchange — designated for hedge accounting 671 1,549 Foreign exchange — not designated for hedge accounting 868 3,710 Derivative liabilities (accrued expenses and other payables)* $ 1,828 $ 8,510 _________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges. As of February 28, 2018 , 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, 2018
Fair Value Disclosures [Abstract]
Fair value	NOTE 9. 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, 2018 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 144,904 $ 144,904 $ — $ — Commodity derivative assets (2) 1,070 1,070 — Foreign exchange derivative assets (2) 3,787 — 3,787 — Liabilities: Commodity derivative liabilities (2) 289 289 — — Foreign exchange derivative liabilities (2) 1,539 — 1,539 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2017 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 43,553 $ 43,553 $ — $ — Commodity derivative assets (2) 767 767 — — Foreign exchange derivative assets (2) 1,367 — 1,367 — Liabilities: Commodity derivative liabilities (2) 3,251 3,251 — — Foreign exchange derivative liabilities (2) 5,259 — 5,259 — _________________ (1) Investment deposit accounts are short-term in nature, and the value is determined by principal plus interest. 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 8, Derivatives and Risk Management. In connection with the sale of assets related to the Company's structural steel fabrication operations, the Company recorded an impairment charge of $12.1 million during the second quarter of fiscal 2018. The signed definitive asset sale agreement (Level 2) was the basis for the determination of fair value of these operations. There were no other material non-recurring fair value remeasurements during the three and six months ended February 28, 2018 and 2017 . 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, 2018 August 31, 2017 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2027 Notes (1) Level 2 $ 300,000 $ 303,600 $ 300,000 $ 314,286 2023 Notes (1) Level 2 330,000 339,847 330,000 340,052 2022 Term Loan (2) Level 2 146,250 146,250 150,000 150,000 _________________ (1) The fair value of the notes is determined based on indicated market values. (2) The 2022 Term Loan contains variable interest rates and its carrying value approximates fair value.

INCOME TAX

INCOME TAX	6 Months Ended
	Feb. 28, 2018
Income Tax Disclosure [Abstract]
Income tax	NOTE 10. INCOME TAX On December 22, 2017, the President signed into law the Tax Cuts and Jobs Act (" TCJA") which, among other provisions, reduced the federal corporate tax rate to 21.0% effective January 1, 2018. Due to the Company’s August 31 st fiscal year end, this provision will result in a blended statutory U.S. tax rate of 25.7% for fiscal 2018 and a 21.0% statutory U.S. tax rate beginning September 1, 2018. Accounting Standards Codification ("ASC") 740 requires the change in tax law to be accounted for in the period of enactment. Due to complexities involved in accounting for the TCJA, the Securities and Exchange Commission's Staff Accounting Bulletin ("SAB") 118 provides a measurement period, which should not extend beyond one year from the date of enactment, to complete the accounting under ASC 740. The Company recognized additional income tax expense of $10.6 million during the three months ended February 28, 2018 for the effects of those provisions of the TCJA for which amounts are reasonably estimable, including (i) recognition of the one-time toll charge on certain undistributed earnings of non-U.S. subsidiaries with associated foreign tax credits, in order to transition from a worldwide system with deferral to a territorial-style tax system, and (ii) the remeasurement of the Company’s deferred tax balances as of February 28, 2018 to the lower statutory rates. These provisions of the TCJA, as well as a 100% bonus depreciation for qualified assets acquired and placed in service after September 27, 2017, resulted in a $52.3 million reduction to the Company’s net deferred tax liabilities. The impacts of the legislation on the Company’s tax expense and/or the Company’s deferred tax balances may differ from these estimates, possibly materially, and may be adjusted accordingly over the SAB 118 measurement period. The Company’s current analysis of the following provisions of the TCJA resulted in minimal or no impact on the Company’s financial statements, and as a result, the Company did not record any associated tax expense or benefit as of February 28, 2018: (i) the new tax on global intangible low-taxed income, (ii) the new tax on foreign-derived intangible income, (iii) the base erosion anti-abuse tax, (iv) deductibility limitations on performance-based compensation, (v) deductibility limitations on business interest under Section 163(j) and (vi) deductibility limitations on meal and entertainment related expenses. The Company will continue to evaluate the effect of these provisions and adjust its financial statements if necessary as new information becomes available. The Company's effective income tax rate from continuing operations for the three and six months ended February 28, 2018 was 15.0% and 19.6% , respectively, compared with 25.3% and 26.3% for the three and six months ended February 28, 2017 , 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, 2018 , the Company's effective tax rate was lower than the blended U.S. statutory income tax rate of 25.7% . The statutory rate for fiscal 2018 was revised during the current reporting period due to the TCJA discussed above. Items that impacted the effective tax rate included: i. the one-time toll charge on certain undistributed earnings of non-U.S. subsidiaries with associated foreign tax credits as a result of the TCJA; ii. the remeasurement of the Company’s deferred tax balances to the applicable reduced statutory income tax rates as a result of the TCJA; iii. a permanent tax benefit related to a worthless stock deduction from the reorganization and exit of the steel trading business headquartered in the United Kingdom; iv. 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% ; v. a permanent tax benefit recorded under ASU 2016-09 for stock awards that vested during the first and second quarters of fiscal 2018; and vi. a non-taxable gain on assets related to the Company's non-qualified Benefits Restoration Plan ("BRP"). For the three and six months ended February 28, 2017 , the Company's effective tax rate was lower than the U.S. 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 BRP; and iv. losses from operations in certain jurisdictions in which the Company maintains a valuation allowance, thus providing no benefit for such losses. For the three months ended February 28, 2018 , the Company's income tax benefit from discontinued operations was immaterial. For the six months ended February 28, 2018, the Company’s effective income tax rate from discontinued operations of 36.6% was greater than the blended U.S. statutory income tax rate of 25.7% primarily as a result of state taxes imposed on income earned by the Company’s steel trading operations headquartered in the U.S. For each of the three and six months ended February 28, 2017, the Company’s effective income tax rate from discontinued operations of 23.5% was less than the U.S. statutory income tax rate of 35% primarily due to pre-tax income earned in foreign jurisdictions that benefit from group loss sharing provisions. Such losses, which carry a full valuation allowance, are utilized to absorb current period income earned in foreign jurisdictions; thus, there is no associated tax expense or benefit. The Company made net cash payments of $7.7 million and $11.8 million for income taxes during the six months ended February 28, 2018 and 2017 , respectively. As of February 28, 2018 and August 31, 2017 , the reserve for unrecognized income tax benefits related to the accounting for uncertainty in income taxes was $9.3 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, 2018 , the Company recorded immaterial amounts of accrued interest and penalties on unrecognized income tax benefits. During the twelve months ending February 28 , 2019, 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 $9.3 million , which would reduce the provision for income taxes by $9.3 million . The Company files income tax returns in the U.S. 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 — 2011 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, 2018 sufficiently reflect the anticipated outcome of these examinations.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	6 Months Ended
	Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation plans	NOTE 11. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans are described, and informational disclosures provided, in Note 15, Stock-Based Compensation Plans, to the audited consolidated financial statements in the 2017 Form 10-K. In general, the restricted stock units granted during fiscal 2018 vest ratably over a period of three years. However, certain restricted stock units granted during fiscal 2018 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 2018 will vest after a period of three years. During the six months ended February 28, 2018 and 2017 , the Company granted the following awards under its stock-based compensation plans: 2018 2017 (in thousands, except per share data) Shares Granted Weighted Average Grant Date Fair Value Shares Granted Weighted Average Grant Date Fair Value Equity Method 1,201 $ 20.71 916 $ 16.04 Liability Method 323 N/A 915 N/A During the three and six months ended February 28, 2018 , the Company recorded expense of $1.4 million and $1.7 million for mark-to-market adjustments on liability awards, compared to expense of $0.8 million and $4.7 million recorded for the three and six months ended February 28, 2017 , which includes the impact of the modification of certain restricted stock and performance stock units that occurred during the first quarter of fiscal 2017. As of February 28, 2018 , the Company had 777 thousand equivalent shares accounted for under the liability method outstanding. The Company expects 741 thousand equivalent shares to vest. The following table summarizes total stock-based compensation expense, including fair value remeasurements, which is mainly included in selling, general and administrative expenses on the Company's unaudited condensed consolidated statements of earnings: Three Months Ended February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Stock-based compensation expense $ 8,557 $ 7,911 $ 13,338 $ 16,156

STOCKHOLDERS_ EQUITY AND EARNIN

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC	6 Months Ended
	Feb. 28, 2018
Earnings Per Share [Abstract]
Stockholder's equity and earnings per share attributable to CMC	NOTE 12. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE The calculations of basic and diluted earnings per share from continuing operations for the three and six months ended February 28, 2018 and February 28, 2017 were as follows: Three Months Ended February 28, Six Months Ended February 28, (in thousands, except share data) 2018 2017 2018 2017 Earnings from continuing operations attributable to CMC $ 9,781 $ 22,992 $ 41,652 $ 28,678 Basic earnings per share: Shares outstanding for basic earnings per share 116,808,838 115,736,369 116,524,630 115,415,662 Basic earnings per share attributable to CMC $ 0.08 $ 0.20 $ 0.36 $ 0.25 Diluted earnings per share: Shares outstanding for basic earnings per share 116,808,838 115,736,369 116,524,630 115,415,662 Effect of dilutive securities: Stock-based incentive/purchase plans 1,460,883 1,383,839 1,625,185 1,592,296 Shares outstanding for diluted earnings per share 118,269,721 117,120,208 118,149,815 117,007,958 Diluted earnings per share attributable to CMC $ 0.08 $ 0.20 $ 0.35 $ 0.25 CMC had no shares that were anti-dilutive for all periods presented. 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. During the six months ended February 28, 2018 and 2017 , CMC did not repurchase any shares of CMC common stock. CMC had remaining authorization to repurchase $27.6 million shares of common stock at February 28, 2018 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Feb. 28, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	NOTE 13. COMMITMENTS AND CONTINGENCIES 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 18, Commitments and Contingencies, to the audited consolidated financial statements in the 2017 Form 10-K. On April 28, 2016, the Company was served with a lawsuit filed by Ector County, Texas and the State of Texas by and through the Texas Commission on Environmental Quality ("TCEQ") alleging violations of the Texas Solid Waste Disposal Act, the Texas Water Code, the Texas Clean Air Act, and TCEQ rules on spill prevention and control. The Plaintiffs amended their petition in February 2017 to include violations of TCEQ rules on recycling and storm water permits. The Plaintiffs further amended their petition in April 2017, broadening their allegations. The lawsuit, filed in the 201st Judicial District Court of Travis County, Texas, alleged improper disposal of solid waste and unauthorized outdoor burning activity at the Company’s recycling facility located in Odessa, Texas. The lawsuit sought a penalty for each day of alleged violation under the Texas Health & Safety Code, the Texas Water Code, or the Texas Administrative Code. The parties agreed to a mediated settlement on December 1, 2017, which will be binding upon the entry of an Agreed Final Judgment, subject to the formal approval process of the State of Texas. Under the mediated settlement, the Company will pay $1.1 million , net of insurance recoveries. The Company denies any wrongdoing in connection with the alleged claims, and the settlement does not contain an admission of liability from the Company. 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 of which are 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, 2018 and August 31, 2017 , the Company had accrued $0.7 million for estimated 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. As of both February 28, 2018 and August 31, 2017 , total environmental liabilities, including with respect to CERCLA sites, were $4.3 million , of which $2.1 million was classified as other long-term liabilities. 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, 2018
Segment Reporting [Abstract]
Business segments	NOTE 14. BUSINESS SEGMENTS The Company's operating segments earn revenues and incur expenses 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 four reporting segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. See Note 1, Nature of Operations, of the audited consolidated financial statements included in the 2017 Form 10-K for more information about the reporting segments, including the types of products and services from which each reporting segment derives its net sales. During the second quarter of fiscal 2018, the Company substantially completed the exit of the International Marketing and Distribution segment. See Note 2, Changes in Business, for further information. Certain components of the International Marketing and Distribution segment which were wound down in prior periods, including the Company's steel trading operations based in the United Kingdom, did not meet the criteria for discontinued operations and are included in continuing operations for all periods presented. Such activities are included in the results of Corporate and Other, and are immaterial for the three and six months ended February 28, 2018 . Corporate and Other also contains earnings or losses on assets and liabilities related to the BRP 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 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 interest expense, income taxes 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 2017 Form 10-K. The following is a summary of certain financial information from continuing operations by reportable segment: Three Months Ended February 28, 2018 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 265,432 $ 262,703 $ 310,199 $ 211,484 $ 4,450 $ — $ 1,054,268 Intersegment sales 55,195 163,184 2,774 281 — (221,434 ) — Net sales 320,627 425,887 312,973 211,765 4,450 (221,434 ) 1,054,268 Adjusted operating profit (loss) from continuing operations 12,238 31,536 (27,117 ) 24,490 (22,361 ) 100 18,886 Six Months Ended February 28, 2018 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 539,769 $ 509,436 $ 640,751 $ 431,696 $ 9,149 $ — $ 2,130,801 Intersegment sales 100,199 329,969 5,001 546 — (435,715 ) — Net sales 639,968 839,405 645,752 432,242 9,149 (435,715 ) 2,130,801 Adjusted operating profit (loss) from continuing operations 22,230 72,300 (31,900 ) 47,927 (43,034 ) (1,472 ) 66,051 Total assets as of February 28, 2018* 298,470 1,032,112 671,142 511,140 695,856 (441,740 ) 2,766,980 Three Months Ended February 28, 2017 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 188,502 $ 220,607 $ 301,382 $ 134,472 $ 17,335 $ — $ 862,298 Intersegment sales 34,826 155,986 2,444 180 — (193,436 ) — Net sales 223,328 376,593 303,826 134,652 17,335 (193,436 ) 862,298 Adjusted operating profit (loss) from continuing operations 7,788 51,319 507 9,484 (25,112 ) (582 ) 43,404 Six Months Ended February 28, 2017 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 342,864 $ 423,938 $ 636,659 $ 269,004 $ 42,761 $ — $ 1,715,226 Intersegment sales 57,172 299,820 5,566 391 641 (363,590 ) — Net sales 400,036 723,758 642,225 269,395 43,402 (363,590 ) 1,715,226 Adjusted operating profit (loss) from continuing operations 2,734 88,268 7,218 19,546 (51,895 ) (795 ) 65,076 Total assets as of August 31, 2017* 240,371 933,022 683,609 464,428 687,984 (327,883 ) 2,681,531 _________________ * Excludes total assets from discontinued operations of $143.5 million at February 28, 2018 and $293.6 million at August 31, 2017 . Reconciliations of earnings from continuing operations to adjusted operating profit from continuing operations are provided below: Three Months Ended February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Earnings from continuing operations $ 9,781 $ 22,992 $ 41,652 $ 28,678 Income taxes 1,728 7,772 10,153 10,225 Interest expense 7,181 12,439 13,792 25,764 Discounts on sales of accounts receivable 196 201 454 409 Adjusted operating profit from continuing operations $ 18,886 $ 43,404 $ 66,051 $ 65,076

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Feb. 28, 2018
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, 2017 ("2017 Form 10-K") 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 (loss), 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 2017 Form 10-K. The results of operations for the three and six month periods are not necessarily indicative of the results to be expected for the full fiscal year.
Recent accounting pronouncements	Recently Issued Accounting Pronouncements In August 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-12, Derivatives and Hedging (Topic 815). The ASU better aligns accounting rules with a company's risk management activities; better reflects economic results of hedging in financial statements; and simplifies hedge accounting treatment. For public companies, this standard is effective for annual periods beginning after December 15, 2018, including interim periods within those periods. The standard must be applied to hedging relationships existing on the date of adoption, and the effect of adoption should be reflected as of the beginning of the fiscal year of adoption. 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 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 and will be effective for the Company beginning September 1, 2018, at which point the Company plans to adopt the standard. 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. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), and has modified the standard thereafter. The standard requires 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 has a project plan in place to address the effects of ASU 2016-02 and any modifications thereafter, including evaluation of the impact of this guidance on internal processes, internal controls, and 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 modified retrospective method. The Company believes there will not be a material impact on its statement of financial position, results of operations or cash flows in its Americas Mills, Americas Recycling or International Mill segments. Upon adoption of ASU 2014-09, for certain contracts within the Americas Fabrication segment in which revenue is currently recognized over time on a percentage of completion basis using a cost-to-cost measure of progress, the measure of progress will change to an output measure to align with the pattern of transfer of control on these contracts. 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 identifying and preparing to implement changes to its accounting policies, practices, and internal controls over financial reporting to support the standard both in the transition period as well as on an on-going basis.
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	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.

CHANGES IN BUSINESS (Tables)

CHANGES IN BUSINESS (Tables)	6 Months Ended
	Feb. 28, 2018
Structural Steel Fabrication Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Financial information for discontinued operations	The assets and liabilities related to these operations are included as assets and liabilities of businesses held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below. (in thousands) February 28, 2018 August 31, 2017* Assets: Accounts receivable $ 38,846 $ 38,279 Inventories, net 8,311 10,676 Other current assets 35 77 Assets of businesses held for sale & discontinued operations $ 47,192 $ 49,032 Liabilities: Accounts payable-trade $ 15,667 $ 13,108 Accrued expenses and other payables 10,424 16,785 Liabilities of businesses held for sale & discontinued operations $ 26,091 $ 29,893 * At August 31, 2017, $8.8 million of property, plant, and equipment, net of accumulated depreciation and amortization is included in other noncurrent assets on the unaudited condensed consolidated balance sheets.
International Marketing and Distribution
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Financial information for discontinued operations	The major classes of line items constituting earnings from discontinued operations in the unaudited condensed consolidated statements of earnings, which primarily relate to International Marketing and Distribution activities, are presented in the table below. Three Months Ended February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Net sales $ 139,011 $ 287,323 $ 301,122 $ 509,436 Costs and expenses: Cost of goods sold 130,687 265,380 272,138 471,919 Selling, general and administrative expenses 8,034 12,350 20,660 27,180 Interest expense — 2 (86 ) (25 ) Earnings before income taxes 290 9,591 8,410 10,362 Income taxes (benefit) (98 ) 2,251 3,082 2,433 Earnings from discontinued operations $ 388 $ 7,340 $ 5,328 $ 7,929 Components of the International Marketing and Distribution segment meeting the criteria for discontinued operations have been re-classified as assets and liabilities of business held for sale & discontinued operations in the unaudited condensed consolidated balance sheets for all periods presented, the major components of which are presented in the table below. (in thousands) February 28, 2018 August 31, 2017* Assets: Accounts receivable $ 72,723 $ 106,905 Inventories, net 49,106 141,135 Other current assets 6,934 38 Property, plant and equipment, net of accumulated depreciation and amortization 332 — Assets of businesses held for sale & discontinued operations $ 129,095 $ 248,078 Liabilities: Accounts payable-trade $ 11,947 $ 42,563 Accrued expenses and other payables 12,523 15,372 Liabilities of businesses held for sale & discontinued operations $ 24,470 $ 57,935 * Property, plant, and equipment, net of accumulated depreciation and amortization of $0.8 million at August 31, 2017 is included in other noncurrent assets on the unaudited condensed consolidated balance sheets. There were no material operating or investing non-cash items for discontinued operations for the six months ended February 28, 2018 and 2017.

ACCUMULATED OTHER COMPREHENSI25

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Feb. 28, 2018
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"): Three Months Ended February 28, 2018 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, November 30, 2017 $ (77,943 ) $ 1,492 $ (1,891 ) $ (78,342 ) Other comprehensive income before reclassifications 11,943 18 — 11,961 Amounts reclassified from AOCI — (97 ) (9 ) (106 ) Income taxes — 19 2 21 Net other comprehensive income (loss) 11,943 (60 ) (7 ) 11,876 Balance, February 28, 2018 $ (66,000 ) $ 1,432 $ (1,898 ) $ (66,466 ) Six Months Ended February 28, 2018 (in thousands) Foreign Currency Translation Unrealized Gain (Loss) on Derivatives Defined Benefit Obligation Total AOCI Balance, August 31, 2017 $ (80,778 ) $ 1,587 $ (2,322 ) $ (81,513 ) Other comprehensive income before reclassifications 14,778 31 — 14,809 Amounts reclassified from AOCI — (243 ) 656 413 Income taxes — 57 (232 ) (175 ) Net other comprehensive income (loss) 14,778 (155 ) 424 15,047 Balance, February 28, 2018 $ (66,000 ) $ 1,432 $ (1,898 ) $ (66,466 ) 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 )
Schedule of reclassification out of accumulated other comprehensive income (loss)	tems

SALES OF ACCOUNTS RECEIVABLE (T

SALES OF ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Feb. 28, 2018
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, 2018 (in thousands) Total U.S.* Poland Beginning balance $ 293,376 $ 221,034 $ 72,342 Transfers of accounts receivable 689,004 551,757 137,247 Collections (646,168 ) (527,907 ) (118,261 ) Ending balance $ 336,212 $ 244,884 $ 91,328 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $40.6 million and collections of $105.8 million for the three months ended February 28, 2018. Six Months Ended February 28, 2018 (in thousands) Total U.S.* Poland Beginning balance $ 215,123 $ 135,623 $ 79,500 Transfers of accounts receivable 1,345,646 1,087,650 257,996 Collections (1,224,557 ) (978,389 ) (246,168 ) Ending balance $ 336,212 $ 244,884 $ 91,328 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $136.7 million and collections of $196.0 million for the six months ended February 28, 2018. 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 *Includes the sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $128.8 million and collections of $104.5 million for the three months ended February 28, 2017 . 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 sale of trade accounts receivable activities related to the U.S.-based operations of International Marketing and Distribution that are in discontinued operations, including transfers of trade accounts receivable of $221.3 million and collections of $201.9 million for the six months ended February 28, 2017. ** All Australia trade accounts receivable activities are related to discontinued operations as of February 28, 2017.

GOODWILL AND OTHER INTANGIBLE27

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Feb. 28, 2018
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: (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other* Consolidated Goodwill, gross Balance at August 31, 2017 $ 9,751 $ 4,970 $ 57,943 $ 2,664 $ 1,982 $ 77,310 Acquisitions — — — — — — Foreign currency translation — — — 110 — 110 Impairment — — (514 ) — — (514 ) Reclassification to assets of discontinued operations — — — — (1,982 ) (1,982 ) Balance at February 28, 2018 $ 9,751 $ 4,970 $ 57,429 $ 2,774 $ — $ 74,924 Accumulated impairment losses Balance at August 31, 2017 $ (9,751 ) $ — $ (493 ) $ (169 ) $ (1,982 ) $ (12,395 ) Foreign currency translation — — — (7 ) — (7 ) Reclassification to assets of discontinued operations — — — — 1,982 1,982 Balance at February 28, 2018 $ (9,751 ) $ — $ (493 ) $ (176 ) $ — $ (10,420 ) Goodwill, net Balance at August 31, 2017 $ — $ 4,970 $ 57,450 $ 2,495 $ — $ 64,915 Acquisitions — — — — — — Foreign currency translation — — — 103 — 103 Impairment — — (514 ) — — (514 ) Balance at February 28, 2018 $ — $ 4,970 $ 56,936 $ 2,598 $ — $ 64,504 * Other relates to goodwill for the International Marketing and Distribution segment which was moved to discontinued operations during the three months ended February 28, 2018.

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	6 Months Ended
	Feb. 28, 2018
Debt Disclosure [Abstract]
Long-term debt, including the deferred gain from the termination of the interest rate swaps	Long-term debt was as follows: (in thousands) Weighted Average February 28, 2018 August 31, 2017 2027 Notes 5.375% $ 300,000 $ 300,000 2023 Notes 4.875% 330,000 330,000 2022 Term Loan 2.909% 146,250 150,000 Other, including equipment notes 49,608 52,077 Total debt 825,858 832,077 Less debt issuance costs 7,066 7,315 Total amounts outstanding 818,792 824,762 Less current maturities 18,958 19,182 Long-term debt $ 799,834 $ 805,580

DERIVATIVES AND RISK MANAGEME29

DERIVATIVES AND RISK MANAGEMENT (Tables)	6 Months Ended
	Feb. 28, 2018
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, 2018 : Commodity Long/Short Total Aluminum Long 2,650 MT Aluminum Short — MT Copper Long 1,009 MT Copper Short 5,999 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 February 28, Six Months Ended February 28, Derivatives Not Designated as Hedging Instruments (in thousands) Location 2018 2017 2018 2017 Commodity Cost of goods sold $ (2 ) $ (146 ) $ 573 $ (4,775 ) Foreign exchange Cost of goods sold (31 ) (25 ) (50 ) (33 ) Foreign exchange SG&A expenses (1,729 ) (678 ) 651 3,371 Gain (loss) before income taxes $ (1,762 ) $ (849 ) $ 1,174 $ (1,437 )
Derivatives designated as fair value hedging instruments	Hedged items relate to firm commitments on commercial sales and purchases and capital expenditures. Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives for the three months ended February 28, Location of gain (loss) recognized in income on related hedged items Amount of gain (loss) recognized in income on related hedge items for the three months ended February 28, 2018 2017 2018 2017 Foreign exchange Net sales $ 8 $ 66 Net sales $ (8 ) $ (66 ) Foreign exchange Cost of goods sold (1,323 ) (1,693 ) Cost of goods sold 1,323 1,693 Gain (loss) before income taxes $ (1,315 ) $ (1,627 ) $ 1,315 $ 1,627 Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives for the six months ended February 28, Location of gain (loss) recognized in income on related hedged items Amount of gain (loss) recognized in income on related hedge items for the six months ended February 28, 2018 2017 2018 2017 Foreign exchange Net sales $ (229 ) $ 44 Net sales $ 229 $ (44 ) Foreign exchange Cost of goods sold 2,025 (607 ) Cost of goods sold (2,025 ) 607 Gain (loss) before income taxes $ 1,796 $ (563 ) $ (1,796 ) $ 563
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 AOCI (in thousands) Three Months Ended February 28, Six Months Ended February 28, 2018 2017 2018 2017 Commodity $ — $ 118 $ — $ 217 Foreign exchange 14 192 25 225 Gain (loss), net of income taxes $ 14 $ 310 $ 25 $ 442
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, 2018 August 31, 2017 Commodity — not designated for hedge accounting $ 1,070 $ 767 Foreign exchange — designated for hedge accounting 936 81 Foreign exchange — not designated for hedge accounting 2,851 1,286 Derivative assets (other current assets)* $ 4,857 $ 2,134
Derivative liabilities	Derivative Liabilities (in thousands) February 28, 2018 August 31, 2017 Commodity — not designated for hedge accounting $ 289 $ 3,251 Foreign exchange — designated for hedge accounting 671 1,549 Foreign exchange — not designated for hedge accounting 868 3,710 Derivative liabilities (accrued expenses and other payables)* $ 1,828 $ 8,510 _________________ * 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, 2018
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, 2018 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 144,904 $ 144,904 $ — $ — Commodity derivative assets (2) 1,070 1,070 — Foreign exchange derivative assets (2) 3,787 — 3,787 — Liabilities: Commodity derivative liabilities (2) 289 289 — — Foreign exchange derivative liabilities (2) 1,539 — 1,539 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2017 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 43,553 $ 43,553 $ — $ — Commodity derivative assets (2) 767 767 — — Foreign exchange derivative assets (2) 1,367 — 1,367 — Liabilities: Commodity derivative liabilities (2) 3,251 3,251 — — Foreign exchange derivative liabilities (2) 5,259 — 5,259 — _________________ (1) Investment deposit accounts are short-term in nature, and the value is determined by principal plus interest. 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 8, 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, 2018 August 31, 2017 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2027 Notes (1) Level 2 $ 300,000 $ 303,600 $ 300,000 $ 314,286 2023 Notes (1) Level 2 330,000 339,847 330,000 340,052 2022 Term Loan (2) Level 2 146,250 146,250 150,000 150,000 _________________ (1) The fair value of the notes is determined based on indicated market values.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	6 Months Ended
	Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Based Awards Granted	During the six months ended February 28, 2018 and 2017 , the Company granted the following awards under its stock-based compensation plans: 2018 2017 (in thousands, except per share data) Shares Granted Weighted Average Grant Date Fair Value Shares Granted Weighted Average Grant Date Fair Value Equity Method 1,201 $ 20.71 916 $ 16.04 Liability Method 323 N/A 915 N/A
Schedule of Stock-based Compensation Expense	The following table summarizes total stock-based compensation expense, including fair value remeasurements, which is mainly included in selling, general and administrative expenses on the Company's unaudited condensed consolidated statements of earnings: Three Months Ended February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Stock-based compensation expense $ 8,557 $ 7,911 $ 13,338 $ 16,156

STOCKHOLDERS_ EQUITY AND EARN32

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Tables)	6 Months Ended
	Feb. 28, 2018
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, 2018 and February 28, 2017 were as follows: Three Months Ended February 28, Six Months Ended February 28, (in thousands, except share data) 2018 2017 2018 2017 Earnings from continuing operations attributable to CMC $ 9,781 $ 22,992 $ 41,652 $ 28,678 Basic earnings per share: Shares outstanding for basic earnings per share 116,808,838 115,736,369 116,524,630 115,415,662 Basic earnings per share attributable to CMC $ 0.08 $ 0.20 $ 0.36 $ 0.25 Diluted earnings per share: Shares outstanding for basic earnings per share 116,808,838 115,736,369 116,524,630 115,415,662 Effect of dilutive securities: Stock-based incentive/purchase plans 1,460,883 1,383,839 1,625,185 1,592,296 Shares outstanding for diluted earnings per share 118,269,721 117,120,208 118,149,815 117,007,958 Diluted earnings per share attributable to CMC $ 0.08 $ 0.20 $ 0.35 $ 0.25 CMC had no shares that were anti-dilutive for all periods presented. 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.

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Feb. 28, 2018
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, 2018 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 265,432 $ 262,703 $ 310,199 $ 211,484 $ 4,450 $ — $ 1,054,268 Intersegment sales 55,195 163,184 2,774 281 — (221,434 ) — Net sales 320,627 425,887 312,973 211,765 4,450 (221,434 ) 1,054,268 Adjusted operating profit (loss) from continuing operations 12,238 31,536 (27,117 ) 24,490 (22,361 ) 100 18,886 Six Months Ended February 28, 2018 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 539,769 $ 509,436 $ 640,751 $ 431,696 $ 9,149 $ — $ 2,130,801 Intersegment sales 100,199 329,969 5,001 546 — (435,715 ) — Net sales 639,968 839,405 645,752 432,242 9,149 (435,715 ) 2,130,801 Adjusted operating profit (loss) from continuing operations 22,230 72,300 (31,900 ) 47,927 (43,034 ) (1,472 ) 66,051 Total assets as of February 28, 2018* 298,470 1,032,112 671,142 511,140 695,856 (441,740 ) 2,766,980 Three Months Ended February 28, 2017 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 188,502 $ 220,607 $ 301,382 $ 134,472 $ 17,335 $ — $ 862,298 Intersegment sales 34,826 155,986 2,444 180 — (193,436 ) — Net sales 223,328 376,593 303,826 134,652 17,335 (193,436 ) 862,298 Adjusted operating profit (loss) from continuing operations 7,788 51,319 507 9,484 (25,112 ) (582 ) 43,404 Six Months Ended February 28, 2017 (in thousands) Americas Recycling Americas Mills Americas Fabrication International Mill Corporate and Other Eliminations Continuing Operations Net sales-unaffiliated customers $ 342,864 $ 423,938 $ 636,659 $ 269,004 $ 42,761 $ — $ 1,715,226 Intersegment sales 57,172 299,820 5,566 391 641 (363,590 ) — Net sales 400,036 723,758 642,225 269,395 43,402 (363,590 ) 1,715,226 Adjusted operating profit (loss) from continuing operations 2,734 88,268 7,218 19,546 (51,895 ) (795 ) 65,076 Total assets as of August 31, 2017* 240,371 933,022 683,609 464,428 687,984 (327,883 ) 2,681,531 _________________ * Excludes total assets from discontinued operations of $143.5 million at February 28, 2018 and $293.6 million at August 31, 2017 .
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 February 28, Six Months Ended February 28, (in thousands) 2018 2017 2018 2017 Earnings from continuing operations $ 9,781 $ 22,992 $ 41,652 $ 28,678 Income taxes 1,728 7,772 10,153 10,225 Interest expense 7,181 12,439 13,792 25,764 Discounts on sales of accounts receivable 196 201 454 409 Adjusted operating profit from continuing operations $ 18,886 $ 43,404 $ 66,051 $ 65,076

CHANGES IN BUSINESS - Additiona

CHANGES IN BUSINESS - Additional Information (Details) t in Millions, $ in Millions	Dec. 29, 2017USD ($)fabrication_facilityt
Business Acquisition [Line Items]
Annual melt capacity	7.2
U.S. Rebar Steel Mill and Fabrication Assets
Business Acquisition [Line Items]
Cash purchase price of acquisition | $	$ 600
Number of rebar fabrication facilities acquired | fabrication_facility	33
Annual melt capacity	2.7

CHANGES IN BUSINESS (Financial

CHANGES IN BUSINESS (Financial Information for Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017
Assets:
Assets of businesses held for sale & discontinued operations	$ 176,287		$ 176,287		$ 297,110
Liabilities:
Liabilities of businesses held for sale & discontinued operations	50,561		50,561		87,828
Income Statement Disclosures:
Earnings before income taxes	290	$ 9,591	8,410	$ 10,362
Structural Steel Fabrication Operations
Assets:
Accounts receivable	38,846		38,846		38,279
Inventories, net	8,311		8,311		10,676
Other current assets	35		35		77
Assets of businesses held for sale & discontinued operations	47,192		47,192		49,032
Liabilities:
Accounts payable-trade	15,667		15,667		13,108
Accrued expenses and other payables	10,424		10,424		16,785
Liabilities of businesses held for sale & discontinued operations	26,091		26,091		29,893
International Marketing and Distribution
Assets:
Accounts receivable	72,723		72,723		106,905
Inventories, net	49,106		49,106		141,135
Other current assets	6,934		6,934		38
Property, plant and equipment, net of accumulated depreciation and amortization	332		332		0
Assets of businesses held for sale & discontinued operations	129,095		129,095		248,078
Liabilities:
Accounts payable-trade	11,947		11,947		42,563
Accrued expenses and other payables	12,523		12,523		15,372
Liabilities of businesses held for sale & discontinued operations	24,470		24,470		57,935
Income Statement Disclosures:
Net sales	139,011	287,323	301,122	509,436
Cost of goods sold	130,687	265,380	272,138	471,919
Selling, general and administrative expenses	8,034	12,350	20,660	27,180
Interest expense	0	2	(86)	(25)
Earnings before income taxes	290	9,591	8,410	10,362
Income taxes (benefit)	(98)	2,251	3,082	2,433
Earnings from discontinued operations	$ 388	$ 7,340	$ 5,328	$ 7,929
Other Noncurrent Assets | Structural Steel Fabrication Operations
Assets:
Property, plant and equipment, net of accumulated depreciation and amortization					8,800
Other Noncurrent Assets | International Marketing and Distribution
Assets:
Property, plant and equipment, net of accumulated depreciation and amortization					$ 800

ACCUMULATED OTHER COMPREHENSI36

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (78,342)	$ (134,512)	$ (81,513)	$ (112,914)
Other comprehensive income before reclassifications	11,961	9,861	14,809	(11,538)
Amounts reclassified from AOCI	(106)	(339)	413	(538)
Income taxes	21		(175)
Other comprehensive income (loss)	11,876	9,522	15,047	(12,076)
Ending balance	(66,466)	(124,990)	(66,466)	(124,990)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(77,943)	(133,786)	(80,778)	(112,255)
Other comprehensive income before reclassifications	11,943	9,551	14,778	(11,980)
Amounts reclassified from AOCI	0	0	0	0
Income taxes	0		0
Other comprehensive income (loss)	11,943	9,551	14,778	(11,980)
Ending balance	(66,000)	(124,235)	(66,000)	(124,235)
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	1,492	2,128	1,587	2,186
Other comprehensive income before reclassifications	18	310	31	442
Amounts reclassified from AOCI	(97)	(330)	(243)	(520)
Income taxes	19		57
Other comprehensive income (loss)	(60)	(20)	(155)	(78)
Ending balance	1,432	2,108	1,432	2,108
Defined Benefit Obligation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,891)	(2,854)	(2,322)	(2,845)
Other comprehensive income before reclassifications	0	0	0	0
Amounts reclassified from AOCI	(9)	(9)	656	(18)
Income taxes	2		(232)
Other comprehensive income (loss)	(7)	(9)	424	(18)
Ending balance	$ (1,898)	$ (2,863)	$ (1,898)	$ (2,863)

SALES OF ACCOUNTS RECEIVABLE (N

SALES OF ACCOUNTS RECEIVABLE (Narrative) (Details) $ in Thousands, zł in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2018USD ($)	Feb. 28, 2017USD ($)	Feb. 28, 2018PLN (zł)financial_institution	Feb. 28, 2018USD ($)financial_institution	Feb. 28, 2017USD ($)	Aug. 31, 2017USD ($)
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				$ 1,400	$ 178,800
Cash payments to the owners of accounts receivable				91,400	183,900
Discounts on sales of accounts receivable	$ 196	$ 201		454	409
Discounts on sales of accounts receivable, including discontinued operations		$ 200			$ 400
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	2
Maximum advance limit for accounts receivable sold				$ 300,000
Trade accounts receivable sold	246,700			246,700		$ 226,900
Advance payment received on sale of trade account receivable	0			0		90,000
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			zł 220	64,200
Trade accounts receivable sold	$ 91,300			$ 91,300		$ 79,500
Advances, maximum percentage of eligible receivables			90.00%	90.00%

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, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance			$ 561,411
Ending balance	$ 634,721		634,721
Deferred purchase price receivables
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	293,376	$ 261,521	215,123	$ 289,748
Transfers of accounts receivable	689,004	643,478	1,345,646	1,200,442
Collections	(646,168)	(592,553)	(1,224,557)	(1,143,827)
Program termination				(33,917)
Ending balance	336,212	312,446	336,212	312,446
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	221,034	215,717	135,623	212,762
Transfers of accounts receivable	551,757	561,010	1,087,650	1,031,155
Collections	(527,907)	(518,008)	(978,389)	(985,198)
Program termination				0
Ending balance	244,884	258,719	244,884	258,719
Deferred purchase price receivables | Australia
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance				26,662
Transfers of accounts receivable				16,914
Collections				(9,659)
Program termination				(33,917)
Ending balance		0		0
Deferred purchase price receivables | Poland
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Beginning balance	72,342	45,804	79,500	50,324
Transfers of accounts receivable	137,247	82,468	257,996	152,373
Collections	(118,261)	(74,545)	(246,168)	(148,970)
Program termination				0
Ending balance	91,328	53,727	91,328	53,727
International Marketing and Distribution | Deferred purchase price receivables | U.S.
Securitization or Asset-backed Financing Arrangement, Financial Asset for Which Transfer is Accounted as Sale [Roll Forward]
Transfers of accounts receivable	40,600	128,800	136,700	221,300
Collections	$ (105,800)	$ (104,500)	$ (196,000)	$ (201,900)

INVENTORIES, NET (Narrative) (D

INVENTORIES, NET (Narrative) (Details) - USD ($) $ in Millions	Feb. 28, 2018	Aug. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 156.4	$ 116.8

GOODWILL AND OTHER INTANGIBLE40

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts of the intangible assets subject to amortization	$ 21,500		$ 21,500		$ 19,700
Amortization expense for intangible assets	600	$ 700	1,100	$ 900
Impairment			(514)
Americas Fabrication
Finite-Lived Intangible Assets [Line Items]
Impairment	(500)		$ (514)
MMFX Technologies Corporation | Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 7,000
Useful life of intangible assets acquired	7 years 6 months

GOODWILL AND OTHER INTANGIBLE41

GOODWILL AND OTHER INTANGIBLE ASSETS (Changes in the Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 28, 2018	Feb. 28, 2018
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		$ 77,310
Acquisitions		0
Foreign currency translation		110
Impairment		(514)
Reclassification to assets of discontinued operations		(1,982)
Goodwill, gross, balance, ending	$ 74,924	74,924
Accumulated impairment losses, beginning		(12,395)
Foreign currency translation		(7)
Reclassification to assets of discontinued operations		1,982
Accumulated impairment losses, ending	(10,420)	(10,420)
Balance at August 31, 2017		64,915
Acquisitions		0
Foreign currency translation		103
Impairment		(514)
Balance at February 28, 2018	64,504	64,504
Americas Recycling
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		9,751
Acquisitions		0
Foreign currency translation		0
Impairment		0
Reclassification to assets of discontinued operations		0
Goodwill, gross, balance, ending	9,751	9,751
Accumulated impairment losses, beginning		(9,751)
Foreign currency translation		0
Reclassification to assets of discontinued operations		0
Accumulated impairment losses, ending	(9,751)	(9,751)
Balance at August 31, 2017		0
Acquisitions		0
Foreign currency translation		0
Impairment		0
Balance at February 28, 2018	0	0
Americas Mills
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		4,970
Acquisitions		0
Foreign currency translation		0
Impairment		0
Reclassification to assets of discontinued operations		0
Goodwill, gross, balance, ending	4,970	4,970
Accumulated impairment losses, beginning		0
Foreign currency translation		0
Reclassification to assets of discontinued operations		0
Accumulated impairment losses, ending	0	0
Balance at August 31, 2017		4,970
Acquisitions		0
Foreign currency translation		0
Impairment		0
Balance at February 28, 2018	4,970	4,970
Americas Fabrication
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		57,943
Acquisitions		0
Foreign currency translation		0
Impairment		(514)
Reclassification to assets of discontinued operations		0
Goodwill, gross, balance, ending	57,429	57,429
Accumulated impairment losses, beginning		(493)
Foreign currency translation		0
Reclassification to assets of discontinued operations		0
Accumulated impairment losses, ending	(493)	(493)
Balance at August 31, 2017		57,450
Acquisitions		0
Foreign currency translation		0
Impairment	(500)	(514)
Balance at February 28, 2018	56,936	56,936
International Mill
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		2,664
Acquisitions		0
Foreign currency translation		110
Impairment		0
Reclassification to assets of discontinued operations		0
Goodwill, gross, balance, ending	2,774	2,774
Accumulated impairment losses, beginning		(169)
Foreign currency translation		(7)
Reclassification to assets of discontinued operations		0
Accumulated impairment losses, ending	(176)	(176)
Balance at August 31, 2017		2,495
Acquisitions		0
Foreign currency translation		103
Impairment		0
Balance at February 28, 2018	2,598	2,598
International Marketing and Distribution
Goodwill [Roll Forward]
Goodwill, gross, balance, beginning		1,982
Acquisitions		0
Foreign currency translation		0
Impairment		0
Reclassification to assets of discontinued operations		(1,982)
Goodwill, gross, balance, ending	0	0
Accumulated impairment losses, beginning		(1,982)
Foreign currency translation		0
Reclassification to assets of discontinued operations		1,982
Accumulated impairment losses, ending	0	0
Balance at August 31, 2017		0
Acquisitions		0
Foreign currency translation		0
Impairment		0
Balance at February 28, 2018	$ 0	$ 0

CREDIT ARRANGEMENTS (Long-term

CREDIT ARRANGEMENTS (Long-term Debt, Including the Deferred Gain from the Termination of the Interest Rate Swaps) (Details) - USD ($)	Feb. 28, 2018	Aug. 31, 2017	Jul. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 825,858,000	$ 832,077,000
Less debt issuance costs	7,066,000	7,315,000
Total amounts outstanding	818,792,000	824,762,000
Less current maturities	18,958,000	19,182,000
Long-term debt	$ 799,834,000	805,580,000
2027 Notes
Debt Instrument [Line Items]
Weighted average interest rate	5.375%		5.375%
Total debt	$ 300,000,000	300,000,000
2023 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.875%
Total debt	$ 330,000,000	330,000,000
Other, including equipment notes
Debt Instrument [Line Items]
Total debt	49,608,000	52,077,000
Revolving credit facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 750,000,000
Revolving credit facility | 2022 Term Loan
Debt Instrument [Line Items]
Weighted average interest rate	2.909%
Line of Credit Facility, Maximum Borrowing Capacity	$ 146,250,000	$ 150,000,000

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details)	3 Months Ended		6 Months Ended
	Feb. 28, 2018USD ($)	Feb. 28, 2017USD ($)	Feb. 28, 2018USD ($)	Feb. 28, 2017USD ($)	Feb. 28, 2018PLN (zł)	Feb. 28, 2018USD ($)	Feb. 21, 2018USD ($)	Dec. 29, 2017USD ($)	Aug. 31, 2017PLN (zł)	Aug. 31, 2017USD ($)	Jul. 31, 2017USD ($)	May 31, 2013USD ($)
Debt Instrument [Line Items]
Interest capitalized	$ 3,000,000	$ 2,100,000	$ 6,800,000	$ 3,700,000
Interest paid	$ 10,800,000	$ 24,700,000	$ 20,200,000	$ 33,100,000
CMCP
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity					zł 225,000,000	$ 65,701,000			zł 175,000,000	$ 49,100,000
Stand by letters of credit outstanding amount						$ 2,800,000				1,300,000
2027 Notes
Debt Instrument [Line Items]
Debt instrument, face amount											$ 300,000,000
Weighted average interest rate					5.375%	5.375%					5.375%
2023 Notes
Debt Instrument [Line Items]
Debt instrument, face amount												$ 330,000,000
Weighted average interest rate					4.875%	4.875%
Debt instrument, interest rate, stated percentage												4.875%
Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity						$ 350,000,000
Minimum liquidity required						150,000,000
Revolving credit facility, maximum borrowing capacity						750,000,000
Revolving credit facility, amount drawn						$ 0				0
Minimum interest coverage ratio			2.50
Maximum debt to capitalization ratio			0.60
Actual interest coverage ratio					7.63	7.63
Actual debt to capitalization ratio					0.36	0.36
Revolving credit facility | 2022 Term Loan
Debt Instrument [Line Items]
Weighted average interest rate					2.909%	2.909%
Periodic payments, as percent of original principal amount (percent)			1.25%
Revolving credit facility, maximum borrowing capacity						$ 146,250,000				150,000,000
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						$ 3,300,000				$ 3,000,000
Term Loan B Facility | Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity							$ 400,000,000	$ 600,000,000
Term Loan A Facility | Revolving credit facility
Debt Instrument [Line Items]
Periodic payments, as percent of original principal amount (percent)			1.25%
Revolving credit facility, maximum borrowing capacity							$ 200,000,000

DERIVATIVES AND RISK MANAGEME44

DERIVATIVES AND RISK MANAGEMENT (Narrative) (Details) - USD ($) $ in Millions	Feb. 28, 2018	Feb. 28, 2017
Foreign exchange
Derivative [Line Items]
Derivative notional amount	$ 300.9	$ 256.4
Commodity
Derivative [Line Items]
Derivative notional amount	$ 55.3	$ 36.3

DERIVATIVES AND RISK MANAGEME45

DERIVATIVES AND RISK MANAGEMENT (Commodity Contract Commitments) (Details)	6 Months Ended
	Feb. 28, 2018t
Aluminum | Long
Derivative [Line Items]
Commodity contract commitments	2,650
Aluminum | Short
Derivative [Line Items]
Commodity contract commitments	0
Copper | Long
Derivative [Line Items]
Commodity contract commitments	1,009
Copper | Short
Derivative [Line Items]
Commodity contract commitments	5,999

DERIVATIVES AND RISK MANAGEME46

DERIVATIVES AND RISK MANAGEMENT (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ (1,762)	$ (849)	$ 1,174	$ (1,437)
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	(2)	(146)	573	(4,775)
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	(31)	(25)	(50)	(33)
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ (1,729)	$ (678)	$ 651	$ 3,371

DERIVATIVES AND RISK MANAGEME47

DERIVATIVES AND RISK MANAGEMENT (Derivatives and Hedged Items Designated as Fair Value Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	$ (1,315)	$ (1,627)	$ 1,796	$ (563)
Gain (loss) before income taxes for hedged items of fair value hedges	1,315	1,627	(1,796)	563
Foreign exchange | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	8	66	(229)	44
Gain (loss) before income taxes for hedged items of fair value hedges	(8)	(66)	229	(44)
Foreign exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for fair value hedges	(1,323)	(1,693)	2,025	(607)
Gain (loss) before income taxes for hedged items of fair value hedges	$ 1,323	$ 1,693	$ (2,025)	$ 607

DERIVATIVES AND RISK MANAGEME48

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, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	$ 14	$ 310	$ 25	$ 442
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	0	118	0	217
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), net of income taxes, for cash flow hedges recognized in AOCI	$ 14	$ 192	$ 25	$ 225

DERIVATIVES AND RISK MANAGEME49

DERIVATIVES AND RISK MANAGEMENT (Derivative Assets) (Details) - USD ($) $ in Thousands		Feb. 28, 2018	Aug. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	[1]	$ 4,857	$ 2,134
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		1,070	767
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		936	81
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)		$ 2,851	$ 1,286
[1]	Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

DERIVATIVES AND RISK MANAGEME50

DERIVATIVES AND RISK MANAGEMENT (Derivative Liabilities) (Details) - USD ($) $ in Thousands		Feb. 28, 2018	Aug. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	[1]	$ 1,828	$ 8,510
Commodity | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		289	3,251
Foreign exchange | Designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		671	1,549
Foreign exchange | Not designated
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)		$ 868	$ 3,710
[1]	Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Feb. 28, 2018USD ($)	Feb. 28, 2018levels
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of fair value hierarchy | levels		3
Structural Steel Fabrication Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-recurring impairment charge | $	$ 12.1

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, 2018	Aug. 31, 2017
Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	[1]	$ 144,904	$ 43,553
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	1,070	767
Derivative liabilities	[2]	289	3,251
Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	3,787	1,367
Derivative liabilities	[2]	1,539	5,259
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]	144,904	43,553
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]	1,070	767
Derivative liabilities	[2]	289	3,251
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]		0
Derivative liabilities	[2]	0	0
Significant Other Observable Inputs (Level 2) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	[2]	3,787	1,367
Derivative liabilities	[2]	1,539	5,259
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]	s are short-term in nature, and the value is determined by principal plus interest. 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 8, Derivatives and Risk Management.

FAIR VALUE (Financial Assets 53

FAIR VALUE (Financial Assets and Liabilities Not Required to Be Measured at Fair Value) (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	$ 825,858	$ 832,077
2027 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	300,000	300,000
2027 Notes | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	300,000	300,000
2027 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	303,600	314,286
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	339,847	340,052
Revolving credit facility | 2022 Term Loan | Level 2 | Carrying Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	146,250	150,000
Revolving credit facility | 2022 Term Loan | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	$ 146,250	$ 150,000

INCOME TAX (Narrative) (Details

INCOME TAX (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017
Operating Loss Carryforwards [Line Items]
Blended federal statutory income tax rate (percent)			25.70%
Additional income tax expense recognized for the effects of provisions of the TCJA			$ 10.6
Bonus depreciation for certain capital expenditures (percent)			100.00%
Tax effect or reduction to deferred tax liabilities			$ 52.3
Effective income tax rate from continuing operations	15.00%	25.30%	19.60%	26.30%
Statutory income tax rate			35.00%	35.00%
Effective tax rate from discontinued operation (percent)		23.50%	36.60%	23.50%
Net income tax payments			$ 7.7	$ 11.8
Unrecognized income tax benefits	$ 9.3		9.3		$ 9.3
Possible unrecognized income tax benefits decrease during the next twelve months	9.3		9.3
Unrecognized income tax benefits that would reduce provisions for income taxes	$ 9.3		$ 9.3
Poland
Operating Loss Carryforwards [Line Items]
Statutory income tax rate			19.00%

STOCK-BASED COMPENSATION PLAN55

STOCK-BASED COMPENSATION PLANS (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses from stock modification and increase in value	$ 1,400	$ 800	$ 1,700	$ 4,700
Share-based compensation expense	$ 8,557	$ 7,911	$ 13,338	$ 16,156
Equity method awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			1,201,000	916,000
Weighted average grant-date fair value			$ 20.71	$ 16.04
Liability method awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			323,000	915,000
Equivalent shares outstanding	777,175		777,175
Equivalent shares expected to vest	741,000		741,000
Fiscal 2018 | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years			3 years
Fiscal 2018 | Cliff vesting restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years			3 years
Fiscal 2018 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years			3 years

STOCKHOLDERS_ EQUITY AND EARN56

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ATTRIBUTABLE TO CMC (Narrative) (Details) - USD ($)	6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Nov. 30, 2014
Earnings Per Share [Abstract]
Stock repurchase program, authorized amount			$ 100,000,000
Stock repurchase program, shares purchased (shares)	0	0
Stock repurchase program, remaining authorized repurchase amount	$ 27,600,000

STOCKHOLDERS_ EQUITY AND EARN57

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, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Earnings Per Share [Abstract]
Earnings from continuing operations attributable to CMC	$ 9,781	$ 22,992	$ 41,652	$ 28,678
Basic earnings per share:
Shares outstanding for basic earnings per share (shares)	116,808,838	115,736,369	116,524,630	115,415,662
Basic earnings per share attributable to CMC: (in USD per share)	$ 0.08	$ 0.20	$ 0.36	$ 0.25
Diluted earnings per share:
Shares outstanding for basic earnings per share (shares)	116,808,838	115,736,369	116,524,630	115,415,662
Effect of dilutive securities:
Stock-based incentive/purchase plans (shares)	1,460,883	1,383,839	1,625,185	1,592,296
Shares outstanding for diluted earnings per share (shares)	118,269,721	117,120,208	118,149,815	117,007,958
Diluted earnings per share attributable to CMC: (in USD per share)	$ 0.08	$ 0.20	$ 0.35	$ 0.25

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	Dec. 01, 2017	Feb. 28, 2018	Aug. 31, 2017
Loss Contingencies [Line Items]
Litigation settlement amount, net of insurance recoveries	$ 1.1
Accrual for environmental loss contingencies		$ 4.3	$ 4.3
Accrued environmental loss contingencies, noncurrent		2.1	2.1
CERCLA sites
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		$ 0.7	$ 0.7

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	6 Months Ended
	Feb. 28, 2018segments
Segment Reporting [Abstract]
Number of reporting segments	4

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, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017
Segment Reporting Information [Line Items]
Net sales		$ 1,054,268	$ 862,298	$ 2,130,801	$ 1,715,226
Adjusted operating profit (loss) from continuing operations		18,886	43,404	66,051	65,076
Total assets		2,910,480		2,910,480		$ 2,975,131
Continuing Operations
Segment Reporting Information [Line Items]
Net sales		1,054,268	862,298	2,130,801	1,715,226
Adjusted operating profit (loss) from continuing operations		18,886	43,404		65,076
Total assets	[1]	2,766,980		2,766,980		2,681,531
Americas Recycling
Segment Reporting Information [Line Items]
Net sales		265,432	188,502	539,769	342,864
Adjusted operating profit (loss) from continuing operations		12,238	7,788	22,230	2,734
Total assets	[1]	298,470		298,470		240,371
Americas Mills
Segment Reporting Information [Line Items]
Net sales		262,703	220,607	509,436	423,938
Adjusted operating profit (loss) from continuing operations		31,536	51,319	72,300	88,268
Total assets	[1]	1,032,112		1,032,112		933,022
Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		310,199	301,382	640,751	636,659
Adjusted operating profit (loss) from continuing operations		(27,117)	507	(31,900)	7,218
Total assets	[1]	671,142		671,142		683,609
International Mill
Segment Reporting Information [Line Items]
Net sales		211,484	134,472	431,696	269,004
Adjusted operating profit (loss) from continuing operations		24,490	9,484	47,927	19,546
Total assets	[1]	511,140		511,140		464,428
Corporate
Segment Reporting Information [Line Items]
Net sales		4,450	17,335	9,149	42,761
Adjusted operating profit (loss) from continuing operations		(22,361)	(25,112)	(43,034)	(51,895)
Total assets	[1]	695,856		695,856		687,984
Eliminations
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Adjusted operating profit (loss) from continuing operations		100	(582)	(1,472)	(795)
Total assets	[1]	(441,740)		(441,740)		(327,883)
Segments | Continuing Operations
Segment Reporting Information [Line Items]
Net sales		1,054,268	862,298	2,130,801	1,715,226
Adjusted operating profit (loss) from continuing operations				66,051
Segments | Americas Recycling
Segment Reporting Information [Line Items]
Net sales		320,627	223,328	639,968	400,036
Segments | Americas Mills
Segment Reporting Information [Line Items]
Net sales		425,887	376,593	839,405	723,758
Segments | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		312,973	303,826	645,752	642,225
Segments | International Mill
Segment Reporting Information [Line Items]
Net sales		211,765	134,652	432,242	269,395
Segments | Corporate
Segment Reporting Information [Line Items]
Net sales		4,450	17,335	9,149	43,402
Segments | Eliminations
Segment Reporting Information [Line Items]
Net sales		(221,434)	(193,436)	(435,715)	(363,590)
Intersegment | Continuing Operations
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Intersegment | Americas Recycling
Segment Reporting Information [Line Items]
Net sales		55,195	34,826	100,199	57,172
Intersegment | Americas Mills
Segment Reporting Information [Line Items]
Net sales		163,184	155,986	329,969	299,820
Intersegment | Americas Fabrication
Segment Reporting Information [Line Items]
Net sales		2,774	2,444	5,001	5,566
Intersegment | International Mill
Segment Reporting Information [Line Items]
Net sales		281	180	546	391
Intersegment | Corporate
Segment Reporting Information [Line Items]
Net sales		0	0	0	641
Intersegment | Eliminations
Segment Reporting Information [Line Items]
Net sales		(221,434)	$ (193,436)	(435,715)	$ (363,590)
Discontinued operations
Segment Reporting Information [Line Items]
Assets from discontinued operations		$ 143,500		$ 143,500		$ 293,600
[1]	Excludes total assets from discontinued operations of $143.5 million at February 28, 2018 and $293.6 million at August 31, 2017.

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, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Segment Reporting [Abstract]
Earnings from continuing operations	$ 9,781	$ 22,992	$ 41,652	$ 28,678
Income taxes	1,728	7,772	10,153	10,225
Interest expense	7,181	12,439	13,792	25,764
Discounts on sales of accounts receivable	196	201	454	409
Adjusted operating profit from continuing operations	$ 18,886	$ 43,404	$ 66,051	$ 65,076