Commercial Metals (CMC) 10-Q 22 Jun 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	May 31, 2022	Jun. 21, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2022
Document Transition Report	false
Entity File Number	1-4304
Entity Registrant Name	COMMERCIAL METALS COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-0725338
Entity Address, Address Line One	6565 N. MacArthur Blvd.
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	(214)
Local Phone Number	689-4300
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CMC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		120,490,407
Entity Central Index Key	0000022444
Amendment Flag	false
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--08-31
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Statement [Abstract]
Net sales	$ 2,515,727	$ 1,845,041	$ 6,506,416	$ 4,699,114
Costs and operating expenses (income):
Cost of goods sold	1,956,459	1,533,768	5,157,834	3,936,930
Selling, general and administrative expenses	139,556	134,357	391,119	368,882
Interest expense	13,433	11,965	36,479	40,245
Loss on debt extinguishment	(39)	0	(16,091)	(16,841)
Asset impairments	3,245	277	4,473	4,345
Gain on sale of assets	(2,024)	(3,909)	(276,106)	(9,390)
Net costs and operating expenses	2,110,708	1,676,458	5,329,890	4,357,853
Earnings before income taxes	405,019	168,583	1,176,526	341,261
Income taxes	92,590	38,175	247,894	80,709
Net earnings	$ 312,429	$ 130,408	$ 928,632	$ 260,552
Earnings per share:
Basic (in USD per share)	$ 2.58	$ 1.08	$ 7.66	$ 2.17
Diluted (in USD per share)	$ 2.54	$ 1.07	$ 7.55	$ 2.14
Average basic shares outstanding (shares)	121,247,105	120,613,652	121,277,553	120,241,579
Average diluted shares outstanding (shares)	122,799,869	122,193,655	122,927,291	121,852,144

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 312,429	$ 130,408	$ 928,632	$ 260,552
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustment after reclassification	(14,668)	11,775	(68,817)	4,852
Derivatives:
Unrealized holding gain	25,927	12,145	81,378	21,032
Reclassification for realized gain	(5,107)	(616)	(13,453)	(929)
Net unrealized gain on derivatives	20,820	11,529	67,925	20,103
Defined benefit plans loss after amortization of prior service costs and net actuarial losses	(6)	(14)	(18)	(41)
Total other comprehensive income (loss), net of income taxes	6,146	23,290	(910)	24,914
Comprehensive income	$ 318,575	$ 153,698	$ 927,722	$ 285,466

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Current assets:
Cash and cash equivalents	$ 410,265	$ 497,745
Restricted cash	126,264	3,384
#REF!	1,330,279	1,105,580
Inventories, net	1,346,286	935,387
Prepaid and other current assets	230,414	169,649
Assets held for sale	60	25,083
Total current assets	3,443,568	2,736,828
Property, plant and equipment, net	1,808,392	1,566,123
Goodwill	253,563	66,137
Intangible assets, net	266,440	10,101
Other noncurrent assets	331,739	259,482
Total assets	6,103,702	4,638,671
Current liabilities:
Accounts payable	492,947	450,723
Accrued expenses and other payables	474,653	475,384
Current maturities of long-term debt and short-term borrowings	423,091	54,366
Total current liabilities	1,390,691	980,473
Deferred income taxes	223,979	112,067
Other noncurrent liabilities	231,385	235,607
Long-term debt	1,115,478	1,015,415
Total liabilities	2,961,533	2,343,562
Commitments and contingencies (Note 15)
Stockholders' equity:
#REF!	1,290	1,290
Additional paid-in capital	375,386	368,064
Accumulated other comprehensive loss	(85,730)	(84,820)
Retained earnings	3,040,554	2,162,925
#REF!	(189,563)	(152,582)
Stockholders' equity	3,141,937	2,294,877
Stockholders' equity attributable to non-controlling interests	232	232
Total stockholders' equity	3,142,169	2,295,109
Total liabilities and stockholders' equity	$ 6,103,702	$ 4,638,671

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,070	$ 5,553
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	120,490,407	120,586,589
Treasury stock, shares	8,570,257	8,474,075

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Cash flows from (used by) operating activities:
Net earnings	$ 928,632	$ 260,552
Adjustments to reconcile net earnings to cash flows from (used by) operating activities:
Depreciation and amortization	125,943	125,176
Stock-based compensation	37,856	35,558
Deferred income taxes and other long-term taxes	64,241	(17,175)
Loss on debt extinguishment	16,052	16,841
Asset impairments	4,473	4,345
Other	1,449	243
Amortization of acquired unfavorable contract backlog	0	(4,540)
Net gain on disposals of assets	(276,106)	(9,390)
Changes in operating assets and liabilities	(660,793)	(317,378)
Net cash flows from operating activities	241,747	94,232
Cash flows from (used by) investing activities:
Acquisitions, net of cash acquired	(552,449)	0
Proceeds from the sale of property, plant and equipment and other	314,971	25,890
Capital expenditures	(294,346)	(127,395)
Proceeds from insurance	3,081	0
Other	0	(2,500)
Net cash flows used by investing activities	(528,743)	(104,005)
Cash flows from (used by) financing activities:
Proceeds from issuance of long-term debt, net	740,403	309,187
Repayments of long-term debt	(319,706)	(361,855)
Debt extinguishment costs	(13,642)	(13,128)
Debt issuance costs	(3,064)	(2,830)
Proceeds from accounts receivable facilities	327,665	145,864
Repayments under accounts receivable facilities	(290,666)	(118,312)
Dividends	(51,003)	(43,295)
Treasury stock acquired	(55,597)	0
Stock issued under incentive and purchase plans, net of forfeitures	(10,132)	(3,807)
Contribution from non-controlling interest	0	19
Net cash flows from (used by) financing activities	324,258	(88,157)
Effect of exchange rate changes on cash	(1,862)	(423)
Increase (decrease) in cash, restricted cash and cash equivalents	35,400	(98,353)
Cash, restricted cash and cash equivalents at beginning of period	536,529	446,611
Cash, restricted cash and cash equivalents at end of period	$ 536,529	$ 446,611

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Supplemental information:
Cash paid for income taxes	$ 189,491	$ 59,041
Cash paid for interest	34,394	43,403
Noncash activities:
Liabilities related to additions of property, plant and equipment	50,948	16,601
Cash and cash equivalents	410,265	443,120
Restricted cash	126,264	3,491
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Total	$ 536,529	$ 446,611

CONDENSED CONSOLIDATED STATEM_5

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, shares at Aug. 31, 2020		129,060,664
Beginning balance at Aug. 31, 2020	$ 1,889,413	$ 1,290	$ 358,912	$ (103,764)	$ 1,807,826	$ (175,063)	$ 212
Beginning balance, treasury stock, shares at Aug. 31, 2020						(9,839,759)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	260,552				260,552
Other comprehensive income (loss)	24,914
Dividends	(43,295)
Issuance of stock under incentive and purchase plans, net of forfeitures	(3,807)		(26,280)			$ 22,473
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,364,866
Stock-based compensation	23,381		23,381
Contribution from non-controlling interest	19						19
Reclassification of share-based liability awards	5,420		5,420
Ending balance, shares at May. 31, 2021		129,060,664
Ending balance at May. 31, 2021	2,156,597	$ 1,290	361,433	(78,850)	2,025,083	$ (152,590)	231
Ending balance, treasury stock, shares at May. 31, 2021						(8,474,893)
Beginning balance, shares at Feb. 28, 2021		129,060,664
Beginning balance at Feb. 28, 2021	2,009,492	$ 1,290	354,620	(102,140)	1,909,443	$ (153,952)	231
Beginning balance, treasury stock, shares at Feb. 28, 2021						(8,552,449)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	130,408				130,408
Other comprehensive income (loss)	23,290
Dividends	(14,768)				(14,768)
Issuance of stock under incentive and purchase plans, net of forfeitures	729		(633)			$ 1,362
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						77,556
Stock-based compensation	7,446		7,446
Ending balance, shares at May. 31, 2021		129,060,664
Ending balance at May. 31, 2021	$ 2,156,597	$ 1,290	361,433	(78,850)	2,025,083	$ (152,590)	231
Ending balance, treasury stock, shares at May. 31, 2021						(8,474,893)
Beginning balance, shares at Aug. 31, 2021	129,060,664	129,060,664
Beginning balance at Aug. 31, 2021	$ 2,295,109	$ 1,290	368,064	(84,820)	2,162,925	$ (152,582)	232
Beginning balance, treasury stock, shares at Aug. 31, 2021	(8,474,075)					(8,474,075)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 928,632				928,632
Other comprehensive income (loss)	(910)
Dividends	$ (51,003)
Treasury stock acquired, shares	(1,501,387)					(1,501,387)
Treasury stock acquired	$ (55,597)					$ (55,597)
Issuance of stock under incentive and purchase plans, net of forfeitures	(10,132)		(28,748)			$ 18,616
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,405,205
Stock-based compensation	26,979		26,979
Contribution from non-controlling interest	0
Reclassification of share-based liability awards	$ 9,091		9,091
Ending balance, shares at May. 31, 2022	129,060,664	129,060,664
Ending balance at May. 31, 2022	$ 3,142,169	$ 1,290	375,386	(85,730)	3,040,554	$ (189,563)	232
Ending balance, treasury stock, shares at May. 31, 2022	(8,570,257)					(8,570,257)
Beginning balance, shares at Feb. 28, 2022		129,060,664
Beginning balance at Feb. 28, 2022	$ 2,869,947	$ 1,290	366,162	(91,876)	2,745,117	$ (150,978)	232
Beginning balance, treasury stock, shares at Feb. 28, 2022						(7,564,796)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	312,429				312,429
Other comprehensive income (loss)	6,146
Dividends	$ (16,992)				(16,992)
Treasury stock acquired, shares	(1,006,387)					(1,006,387)
Treasury stock acquired	$ (38,587)					$ (38,587)
Issuance of stock under incentive and purchase plans, net of forfeitures	587		585			$ 2
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						926
Stock-based compensation	$ 8,639		8,639
Ending balance, shares at May. 31, 2022	129,060,664	129,060,664
Ending balance at May. 31, 2022	$ 3,142,169	$ 1,290	$ 375,386	$ (85,730)	$ 3,040,554	$ (189,563)	$ 232
Ending balance, treasury stock, shares at May. 31, 2022	(8,570,257)					(8,570,257)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in USD per share)	$ 0.14	$ 0.12	$ 0.42	$ 0.36

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
	May 31, 2022
Accounting Policies [Abstract]
Accounting policies	NOTE 1. ACCOUNTING POLICIES Basis of Presentation 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 year ended August 31, 2021 (the "2021 Form 10-K") filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the Securities and Exchange Commission (the "SEC") and include all normal recurring adjustments necessary to present fairly the condensed consolidated balance sheets and the condensed consolidated statements of earnings, comprehensive income, cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the consolidated financial statements and notes included in the 2021 Form 10-K. The results of operations for the three and nine month periods are not necessarily indicative of the results to be expected for the full fiscal year. Any reference in this Form 10-Q to the "corresponding period" relates to the relevant three or nine month period ended May 31, 2021. Any reference in this Form 10-Q to a year refers to the fiscal year ended August 31st of that year, unless otherwise noted. Recently Issued Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This standard is effective for annual periods beginning after December 15, 2022, including interim periods therein, with early adoption permitted. The guidance will be applied prospectively to acquisitions occurring on or after the effective date. The Company will continue to evaluate the impact of this guidance, which will depend on the contract assets and liabilities acquired in future business combinations.

ACQUISITION

ACQUISITION	9 Months Ended
	May 31, 2022
Business Combinations [Abstract]
Acquisition	ACQUISITION On April 25, 2022 (the "Acquisition Date"), the Company completed the acquisition of TAC Acquisition Corp. ("Tensar"). The total cash purchase price, net of $19.6 million cash acquired, was approximately $550 million, subject to customary purchase price adjustments, and was funded through domestic cash on-hand. Tensar is a leading global provider of innovative ground stabilization and soil reinforcement solutions through two major product lines: Tensar® geogrids and Geopier® foundation systems, which are complementary to the Company's existing concrete reinforcement product lines within North America and Europe. Geogrids are polymer-based products used for ground stabilization, soil reinforcement, and asphalt optimization in construction applications, including roadways, public infrastructure, and industrial facilities. Geopier foundation systems are ground improvement solutions that increase the load-bearing characteristics of ground structures and working surfaces and can be applied in soil types and construction situations in which traditional support methods are impractical or would make a project infeasible. Tensar’s end customers include commercial, industrial and residential site developers, mining and oil and gas companies, transportation authorities, coastal and waterway authorities and waste management companies . Tensar serves customers in more than 80 national markets through its manufacturing facilities, the largest of which are located in Morrow, Georgia and Blackburn, England. The acquired operations in North America are presented within our North America reportable segment, and the remaining acquired operations are presented within our Europe reportable segment. The Company accounts for business combinations by recognizing the assets acquired and liabilities assumed at the Acquisition Date fair value. In valuing acquired assets and liabilities, fair value estimates were determined using Level 3 inputs, including expected future cash flows and discount rates. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the Acquisition Date, the Company’s estimates are inherently uncertain and subject to refinement. The results of operations of Tensar are reflected in the Company’s condensed consolidated financial statements from the Acquisition Date. The financial statements are not retrospectively adjusted for any adjustments that occur during the allowable one-year measurement period (the "Measurement Period"). Rather, any adjustments to provisional amounts identified during the Measurement Period will be recorded in the reporting period in which the adjustment is determined. The table below presents the preliminary fair value that was allocated to Tensar's assets and liabilities based upon fair values as determined by the Company as of the Acquisition Date: (in thousands) Estimated Fair Value Cash and cash equivalents $ 19,551 Accounts receivable 38,188 Inventories 38,810 Prepaid and other current assets 14,143 Defined benefit pension plan 14,620 Property, plant and equipment 88,541 Intangible assets 260,500 Goodwill 187,861 Other noncurrent assets 19,430 Accounts payable (12,468) Accrued expenses and other payables (23,307) Current maturities of long-term debt (3,277) Deferred income taxes (48,683) Other noncurrent liabilities (17,597) Long-term debt (4,312) Total assets acquired and liabilities assumed $ 572,000 Inventories The acquired inventory is comprised of finished goods, work in process and raw materials. The fair value of finished goods was calculated as the estimated selling price, adjusted for the selling costs, economic rents for use of intangibles assets involved with the disposal process and a reasonable profit margin. The fair value of work in process was calculated as the estimated selling price, adjusted for estimated costs to complete manufacturing, estimated selling costs and a reasonable profit margin. The fair value of raw materials approximates the historical carrying value or was calculated based on the estimated replacement cost. The portion of the total purchase accounting inventory adjustment recognized during the three and nine months ended May 31, 2022 was $2.2 million, which was reflected as cost of goods sold as the related inventory was sold. Defined Benefit Pension Plan The Company recognized a net asset of $14.6 million, representing the overfunded status of the acquired defined benefit pension plan. See Note 13, Employees' Retirement Plans, for more information on the acquired plan. Property, Plant and Equipment The fair value of real property was calculated using the cost approach for buildings and improvements and the sales comparison approach for land. The fair value of personal property was calculated using the cost approach. The cost approach measures the value by estimating the cost to acquire or construct comparable assets and adjusts for age and condition. The Company assigned real property a useful life ranging from 5 to 25 years and personal property a useful life ranging from 1 to 15 years. Goodwill Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets acquired. The factors contributing to the amount of goodwill are based on strategic and synergistic benefits that are expected to be realized from the acquisition, due in part to the complementing markets for engineered construction ground reinforcement and concrete reinforcement. For the period ended May 31, 2022, the Company added $187.9 million of goodwill related to the Tensar acquisition. The recognized goodwill is not deductible for tax purposes. Intangible Assets The acquired intangible assets consist of: (in thousands, except life in years) Life in Years Preliminary Fair Value Developed technologies 1 to 11 years $ 147,900 Trade names 8 to 9 years or indefinite 57,000 Customer relationships 12 to 17 years 53,200 In-process research and development Indefinite 2,400 The fair value of developed technology was calculated using the income approach under the excess earnings method and considers selling and marketing and research and development costs, which were allocated based on patent lifecycles. The fair value of trade names was calculated using the income approach, under the relief from royalty method. The relief from royalty method considers revenue derived from the corporate and product-specific trade names, the strength and relevance of the trade names in the marketplace and management’s plans to utilize the trade names going forward. The fair value of customer relationships was calculated using the income approach, under the with-and-without method. The with-and-without method considers opportunity costs associated with lost profits in the absence of the existing customer base. The fair value of in-process research and development was calculated using the cost approach and considers development costs, profit mark-up and opportunity cost. Deferred Income Taxes Deferred income tax liabilities include the expected future U.S. federal, state and foreign tax consequences associated with temporary differences between the preliminary fair values of the assets acquired and liabilities assumed and the respective tax bases. Tax rates utilized in calculating the deferred tax liabilities represent the appropriate tax rate for each respective jurisdiction. Deferred tax liabilities may be adjusted during the Measurement Period as the Company finalizes tax returns for periods prior to the Acquisition Date. Other Assets Acquired and Liabilities Assumed The Company used historical carrying values for trade accounts receivable and payables, as well as certain other current and noncurrent assets and liabilities, as their carrying values represented the fair value of those items as of the Acquisition Date. Financial Results The following table summarizes the financial results of Tensar from the Acquisition Date through the end of the third quarter of fiscal 2022 that are included in the Company’s condensed consolidated statement of earnings and condensed consolidated statement of comprehensive income. (in thousands) From the Acquisition Date to May 31, 2022 Net sales $ 27,962 Earnings before income taxes 1,656 Pro Forma Supplemental Information Supplemental information on an unaudited pro forma basis is presented below as if the acquisition of Tensar occurred on September 1, 2020. The pro forma financial information is presented for comparative purposes only, based on certain factually supported estimates and assumptions, which the Company believes to be reasonable, but not necessarily indicative of future results of operations or the results that would have been reported if the acquisition had been completed on September 1, 2020. These results were not used as part of management's analysis of the financial results and performance of the Company. The pro forma adjustments do not reflect anticipated synergies, but rather include the nonrecurring impact of additional cost of sales from revalued inventory and the recurring income statement effects of fair value adjustments, such as depreciation and amortization. Further adjustments were made to remove the impact of Tensar's prior management fees, acquisition and integration expenses and interest on debt not assumed in the acquisition. The resulting tax effects of the business combination are also reflected below. Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Pro forma net sales $ 2,554,295 $ 1,908,133 $ 6,657,257 $ 4,854,727 Pro forma net earnings 318,736 134,854 942,369 261,218 The pro forma results presented above include, but are not limited to, adjustments to remove the impact of $4.5 million and $7.6 million of acquisition and integration expenses from the three and nine months ended May 31, 2022, respectively. Results also reflect increased amortization expense from revalued intangible assets of $1.9 million and $8.1 million in the three and nine months ended May 31, 2022, respectively, and $3.1 million and $9.3 million in the three and nine months ended May 31, 2021, respectively. The three and nine months ended May 31, 2022 include adjustments to remove $2.2 million of increased cost of goods sold as a result of the revaluation of inventory, which similarly resulted in an $8.7 million increase to cost of goods sold in the nine months ended May 31, 2021.

CHANGES IN BUSINESS

CHANGES IN BUSINESS	9 Months Ended
	May 31, 2022
Business Combinations [Abstract]
Changes in Business	NOTE 3. CHANGES IN BUSINESS Facility Closure and Disposition In October 2019, the Company closed the melting operations at its Rancho Cucamonga facility, which was part of the North America segment, and in August 2020, the Company announced plans to sell the facility. Additionally, in September 2021, the Company ceased operations at a rebar fabrication facility adjacent to the Rancho Cucamonga facility. Due to these closures, the Company recorded $13.4 million of expenses in the nine months ended May 31, 2021, all of which were recorded in the first two quarters of 2021, related to asset impairments, severance, pension curtailment, environmental obligations and vendor agreement terminations. Expenses recorded in the three and nine months ended May 31, 2022 were immaterial. The closures did not meet the criteria for discontinued operations. As of August 31, 2021, the associated assets of the Rancho Cucamonga facility and the adjacent rebar fabrication facility ("the Rancho Cucamonga facilities"), comprised of property, plant and equipment, net, met the criteria for classification as held for sale. As such, the Company classified $24.9 million within assets held for sale in the Company's consolidated balance sheet as of August 31, 2021. On September 29, 2021, the Company entered into a definitive agreement to sell the assets associated with the Rancho Cucamonga facilities. On December 28, 2021, the sale of the Rancho Cucamonga facilities was completed for gross proceeds of $313.0 million. A portion of the gross proceeds amounting to $39.0 million were set aside in a restricted cash account to facilitate the purchase of like-kind assets. In January 2022, the Company used $7.5 million of the restricted cash on a purchase of a like-kind asset. The remaining balance of $31.5 million was included in restricted cash as of May 31, 2022.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	May 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income (loss)	NOTE 4. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"): Three Months Ended May 31, 2022 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, March 1, 2022 $ (159,829) $ 68,886 $ (933) $ (91,876) Other comprehensive income (loss) before reclassifications (14,668) 32,302 (7) 17,627 Reclassification for gain (1) — (6,342) — (6,342) Income tax (expense) benefit — (5,140) 1 (5,139) Net other comprehensive income (loss) (14,668) 20,820 (6) 6,146 Balance, May 31, 2022 $ (174,497) $ 89,706 $ (939) $ (85,730) Nine Months Ended May 31, 2022 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, September 1, 2021 $ (105,680) $ 21,781 $ (921) $ (84,820) Other comprehensive income (loss) before reclassifications (68,817) 100,820 (23) 31,980 Reclassification for gain (1) — (16,667) — (16,667) Income tax (expense) benefit — (16,228) 5 (16,223) Net other comprehensive income (loss) (68,817) 67,925 (18) (910) Balance, May 31, 2022 $ (174,497) $ 89,706 $ (939) $ (85,730) Three Months Ended May 31, 2021 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, March 1, 2021 $ (94,856) $ (2,760) $ (4,524) $ (102,140) Other comprehensive income (loss) before reclassifications 11,775 14,056 (14) 25,817 Reclassification for gain (1) — (719) — (719) Income tax expense — (1,808) — (1,808) Net other comprehensive income (loss) 11,775 11,529 (14) 23,290 Balance, May 31, 2021 $ (83,081) $ 8,769 $ (4,538) $ (78,850) Nine Months Ended May 31, 2021 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, September 1, 2020 $ (87,933) $ (11,334) $ (4,497) $ (103,764) Other comprehensive income (loss) before reclassifications 4,852 25,028 (48) 29,832 Reclassification for gain (1) — (1,106) — (1,106) Income tax (expense) benefit — (3,819) 7 (3,812) Net other comprehensive income (loss) 4,852 20,103 (41) 24,914 Balance, May 31, 2021 $ (83,081) $ 8,769 $ (4,538) $ (78,850) _________________ (1) Reclassifications for gains on derivatives included in net earnings are recorded in cost of goods sold in the condensed consolidated statements of earnings.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	May 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	NOTE 5. REVENUE RECOGNITION Each fabricated product contract sold by the North America segment represents a single performance obligation. Revenue from contracts where the Company provides fabricated product and installation services is recognized over time using an input measure, and these contracts represented 7% and 8% of net sales in the North America segment in the three and nine months ended May 31, 2022, respectively, and 7% and 10% of net sales in the North America segment in the three and nine months ended May 31, 2021, respectively. Revenue from contracts where the Company does not provide installation services is recognized over time using an output measure, and these contracts represented 8% of net sales in the North America segment in both the three and nine months ended May 31, 2022, and 9% of net sales in the North America segment in both the three and nine months ended May 31, 2021. Remaining net sales in the North America segment were recognized at a point in time concurrent with the transfer of control, or as amounts were billed to the customer under an available practical expedient. The following table provides information about assets and liabilities from contracts with customers: (in thousands) May 31, 2022 August 31, 2021 Contract assets (included in accounts receivable) $ 58,350 $ 64,168 Contract liabilities (included in accrued expenses and other payables) 23,214 23,948 The amount of revenue reclassified from August 31, 2021 contract liabilities during the nine months ended May 31, 2022 was approximately $19.7 million. Remaining Performance Obligations Remaining performance obligations represent the transaction price of fabricated product contracts where revenue is recognized using an input or output measure for which work has not yet been performed. As of May 31, 2022, $962.2 million was allocated to remaining performance obligations in the North America segment related to those contracts.

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	May 31, 2022
Inventory Disclosure [Abstract]
Inventories, net	NOTE 6. INVENTORIES, NET The majority of the Company's inventories are in the form of semi-finished and finished steel products. Under the Company’s vertically integrated business model, steel products are sold to external customers in various stages, from semi-finished billets through fabricated steel, leading these categories to be combined as finished goods. The components of inventories were as follows: (in thousands) May 31, 2022 August 31, 2021 Raw materials $ 391,208 $ 286,123 Work in process 9,488 6,881 Finished goods 945,590 642,383 Total $ 1,346,286 $ 935,387

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	9 Months Ended
	May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangibles	NOTE 7. GOODWILL AND OTHER INTANGIBLES Goodwill by reportable segment is detailed in the following table: (in thousands) North America Europe Consolidated Goodwill, gross Balance at September 1, 2021 $ 71,941 $ 4,390 $ 76,331 Foreign currency translation — (451) (451) Acquisition 113,991 73,870 187,861 Balance at May 31, 2022 185,932 77,809 263,741 Accumulated impairment Balance at September 1, 2021 (10,036) (158) (10,194) Foreign currency translation — 16 16 Balance at May 31, 2022 (10,036) (142) (10,178) Goodwill, net Balance at September 1, 2021 61,905 4,232 66,137 Foreign currency translation — (435) (435) Acquisition 113,991 73,870 187,861 Balance at May 31, 2022 $ 175,896 $ 77,667 $ 253,563 Other intangible assets subject to amortization are detailed in the following table: May 31, 2022 August 31, 2021 (in thousands) Weighted Average Useful Lives Gross Accumulated Amortization Net Gross Accumulated Amortization Net Patents 5 to 7.5 years $ 7,203 $ 4,352 $ 2,851 $ 7,203 $ 3,621 $ 3,582 Customer relationships 8 years 4,996 4,996 — 6,079 5,629 450 Perpetual lease rights 80 years 3,943 807 3,136 4,395 860 3,535 Non-compete agreements 5 to 7 years 3,050 1,046 2,004 3,050 778 2,272 Other 5 to 15 years 939 745 194 939 677 262 Due to acquisition of Tensar: Developed technologies 1 to 11 years 147,900 1,902 145,998 — — — Customer relationships 12 to 17 years 53,200 421 52,779 — — — Trade names 8 to 9 years 2,406 28 2,378 — — — Total $ 223,637 $ 14,297 $ 209,340 $ 21,666 $ 11,565 $ 10,101 Intangible assets with indefinite lives resulting from the acquisition of Tensar include trade names and in-process research and development with gross carrying amounts of $54.7 million and $2.4 million, respectively, at May 31, 2022. The Company did not have any significant intangible assets with indefinite lives at August 31, 2021. Estimated amounts of amortization expense for the next five fiscal years are as follows: (in thousands) Remainder of 2022 $ 5,868 2023 23,363 2024 22,109 2025 20,551 2026 19,363

LEASES

LEASES	9 Months Ended
	May 31, 2022
Leases [Abstract]
Operating Leases	NOTE 8. LEASES The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's condensed consolidated balance sheets: (in thousands) Classification in Condensed Consolidated Balance Sheets May 31, 2022 August 31, 2021 Assets: Operating assets Other noncurrent assets $ 134,321 $ 112,202 Finance assets Property, plant and equipment, net 59,791 55,308 Total leased assets $ 194,112 $ 167,510 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 31,185 $ 26,433 Long-term Other noncurrent liabilities 105,971 93,409 Total operating lease liabilities 137,156 119,842 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 18,060 16,040 Long-term Long-term debt 36,905 36,104 Total finance lease liabilities 54,965 52,144 Total lease liabilities $ 192,121 $ 171,986 The components of lease expense were as follows: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Operating lease expense $ 8,659 $ 8,377 $ 25,991 $ 25,750 Finance lease expense: Amortization of assets 3,268 3,270 9,722 9,729 Interest on lease liabilities 508 555 1,520 1,673 Total finance lease expense 3,776 3,825 11,242 11,402 Variable and short-term lease expense 6,046 4,584 16,197 13,871 Total lease expense $ 18,481 $ 16,786 $ 53,430 $ 51,023 The weighted average remaining lease term and discount rate for operating and finance leases are presented in the following table: May 31, 2022 August 31, 2021 Weighted average remaining lease term (years): Operating leases 5.4 6.2 Finance leases 3.4 3.6 Weighted average discount rate: Operating leases 4.033 % 4.451 % Finance leases 4.057 % 4.079 % Cash flow and other information related to leases is included in the following table: Nine Months Ended May 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 26,481 $ 25,862 Operating cash outflows from finance leases 1,521 1,665 Financing cash outflows from finance leases 12,847 11,706 Right of use assets obtained in exchange for lease obligations: Operating leases $ 45,949 $ 23,019 Finance leases 15,670 14,002 Future maturities of lease liabilities at May 31, 2022 are presented in the following table: (in thousands) Operating Leases Finance Leases Year 1 $ 36,496 $ 19,890 Year 2 30,653 17,390 Year 3 24,942 12,538 Year 4 19,898 5,730 Year 5 13,750 2,467 Thereafter 28,500 331 Total lease payments 154,239 58,346 Less imputed interest (17,083) (3,381) Present value of lease liabilities $ 137,156 $ 54,965
Finance Leases	NOTE 8. LEASES The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's condensed consolidated balance sheets: (in thousands) Classification in Condensed Consolidated Balance Sheets May 31, 2022 August 31, 2021 Assets: Operating assets Other noncurrent assets $ 134,321 $ 112,202 Finance assets Property, plant and equipment, net 59,791 55,308 Total leased assets $ 194,112 $ 167,510 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 31,185 $ 26,433 Long-term Other noncurrent liabilities 105,971 93,409 Total operating lease liabilities 137,156 119,842 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 18,060 16,040 Long-term Long-term debt 36,905 36,104 Total finance lease liabilities 54,965 52,144 Total lease liabilities $ 192,121 $ 171,986 The components of lease expense were as follows: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Operating lease expense $ 8,659 $ 8,377 $ 25,991 $ 25,750 Finance lease expense: Amortization of assets 3,268 3,270 9,722 9,729 Interest on lease liabilities 508 555 1,520 1,673 Total finance lease expense 3,776 3,825 11,242 11,402 Variable and short-term lease expense 6,046 4,584 16,197 13,871 Total lease expense $ 18,481 $ 16,786 $ 53,430 $ 51,023 The weighted average remaining lease term and discount rate for operating and finance leases are presented in the following table: May 31, 2022 August 31, 2021 Weighted average remaining lease term (years): Operating leases 5.4 6.2 Finance leases 3.4 3.6 Weighted average discount rate: Operating leases 4.033 % 4.451 % Finance leases 4.057 % 4.079 % Cash flow and other information related to leases is included in the following table: Nine Months Ended May 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 26,481 $ 25,862 Operating cash outflows from finance leases 1,521 1,665 Financing cash outflows from finance leases 12,847 11,706 Right of use assets obtained in exchange for lease obligations: Operating leases $ 45,949 $ 23,019 Finance leases 15,670 14,002 Future maturities of lease liabilities at May 31, 2022 are presented in the following table: (in thousands) Operating Leases Finance Leases Year 1 $ 36,496 $ 19,890 Year 2 30,653 17,390 Year 3 24,942 12,538 Year 4 19,898 5,730 Year 5 13,750 2,467 Thereafter 28,500 331 Total lease payments 154,239 58,346 Less imputed interest (17,083) (3,381) Present value of lease liabilities $ 137,156 $ 54,965

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	9 Months Ended
	May 31, 2022
Debt Disclosure [Abstract]
Credit arrangements	NOTE 9. CREDIT ARRANGEMENTS Long-term debt was as follows: (in thousands) Weighted Average Interest Rate as of May 31, 2022 May 31, 2022 August 31, 2021 2032 Notes 4.375% $ 300,000 $ — 2031 Notes 3.875% 300,000 300,000 2030 Notes 4.125% 300,000 — 2027 Notes 5.375% — 300,000 2023 Notes 4.875% 330,000 330,000 Series 2022 Bonds, due 2047 4.000% 145,060 — Poland Term Loan 7.890% 37,923 49,726 Short-term borrowings 6.180% 62,627 26,560 Other 4.560% 20,151 19,492 Finance leases 54,965 52,144 Total debt 1,550,726 1,077,922 Less unamortized debt issuance costs (17,043) (8,141) Plus unamortized bond premium 4,886 — Total amounts outstanding 1,538,569 1,069,781 Less current maturities of long-term debt and short-term borrowings (423,091) (54,366) Long-term debt $ 1,115,478 $ 1,015,415 The Company's credit arrangements require compliance with certain non-financial and financial covenants, including an interest coverage ratio and a debt to capitalization ratio. At May 31, 2022, the Company believes it was in compliance with all covenants contained in its credit arrangements. Senior Notes Activity In January 2022, the Company issued $300.0 million of 4.125% Senior Notes due January 2030 (the "2030 Notes") and $300.0 million of 4.375% Senior Notes due March 2032 (the "2032 Notes"). Aggregate issuance costs associated with the 2030 Notes and 2032 Notes were approximately $9.4 million. Interest on the 2030 Notes is payable semiannually on January 15 and July 15. Interest on the 2032 Notes is payable semiannually on March 15 and September 15. In July 2017, the Company issued $300.0 million of 5.375% Senior Notes due July 2027 (the "2027 Notes"). In February 2022, the Company redeemed all of the 2027 Notes and recognized a $16.1 million loss on debt extinguishment. In May 2013, the Company issued $330.0 million of 4.875% Senior Notes due May 2023 (the "2023 Notes"). Accordingly, the 2023 Notes have been included within current maturities of long-term debt and short-term borrowings in the condensed consolidated balance sheet as of May 31, 2022. Series 2022 Bonds In February 2022, the Company announced the issuance of $145.1 million in original aggregate principal amount of tax-exempt bonds (the “Series 2022 Bonds”) by the Industrial Development Authority of the County of Maricopa (the "MCIDA"). The Series 2022 Bonds were priced to yield 3.5% and provided gross proceeds of $150.0 million. The proceeds were loaned to the Company pursuant to a loan agreement between the Company and the MCIDA and will be used to fund a portion of the acquisition, construction, equipping and/or operation, as applicable, of the Company’s third micro mill, which is under construction in Mesa, Arizona. Proceeds from the Series 2022 Bonds are being held in a trust account and will be disbursed as qualified expenditures are made for the construction of the micro mill. As of May 31, 2022, $58.0 million of proceeds were disbursed from the trust account. Remaining proceeds from the Series 2022 Bonds were recorded as restricted cash in the condensed consolidated balance sheet as of May 31, 2022. Issuance costs associated with the Series 2022 Bonds were $3.1 million. The Series 2022 Bonds accrue interest at 4.0%, payable semiannually, and have a maturity date in October 2047. Credit Facilities The Company had no amounts drawn under its $400.0 million revolving credit facility (the "Revolver") at May 31, 2022 or August 31, 2021. The availability under the Revolver was reduced by outstanding stand-by letters of credit totaling $1.4 million and $3.0 million at May 31, 2022 and August 31, 2021, respectively. The Company has a Term Loan facility (the "Poland Term Loan") through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At May 31, 2022, PLN 161.9 million, or $37.9 million, was outstanding, compared to the maximum amount available under the facility, PLN 190.5 million, or $49.7 million, which was outstanding as of August 31, 2021. The Company also has credit facilities in Poland through its subsidiary, CMCP. At May 31, 2022 and August 31, 2021, CMCP's credit facilities totaled PLN 300.0 million, or $70.3 million and $78.3 million, respectively. There were no amounts outstanding under these facilities as of May 31, 2022 or August 31, 2021. 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 $0.9 million and $5.7 million at May 31, 2022 and August 31, 2021, respectively. Accounts Receivable Facilities The Company had no advance payments outstanding under its U.S. trade accounts receivable facility at May 31, 2022 or August 31, 2021.

DERIVATIVES

DERIVATIVES	9 Months Ended
	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	NOTE 10. DERIVATIVES The Company's global operations and product lines expose it to risks from fluctuations in metal commodity prices, foreign currency exchange rates, interest rates and natural gas, electricity and other energy prices. 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 net earnings due to price volatility in these commodities, (ii) foreign currency forward contracts that match the expected settlements for purchases and sales denominated in foreign currencies and (iii) natural gas and electricity commodity derivatives to mitigate the risk related to price volatility of these commodities. At May 31, 2022, the notional values of the Company's foreign currency and commodity contract commitments were $377.2 million and $228.8 million, respectively. At August 31, 2021, the notional values of the Company's foreign currency and commodity contract commitments were $389.5 million and $213.4 million, respectively. The following table provides information regarding the Company's commodity contract commitments at May 31, 2022: Commodity Long/Short Total Aluminum Long 3,300 MT Aluminum Short 1,525 MT Copper Long 975 MT Copper Short 8,482 MT Electricity Long 1,717,000 MW(h) Natural Gas Long 4,870,250 MMBtu _________________ MT = Metric Ton MW(h) = Megawatt hour MMBtu = Metric Million British thermal unit The Company designates only those contracts which closely match the terms of the underlying transaction as hedges for accounting purposes. 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 condensed consolidated statements of earnings. All other activity related to the Company's derivative instruments and hedged items was immaterial for the periods presented. Three Months Ended May 31, Nine Months Ended May 31, Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Primary Location 2022 2021 2022 2021 Commodity Cost of goods sold $ 2,042 $ (7,921) $ 2,574 $ (24,535) Foreign exchange SG&A expenses 6,157 1,915 (2,886) 75 Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Loss (in thousands) Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Commodity $ 25,920 $ 12,167 $ 81,285 $ 20,971 The Company's natural gas and electricity commodity derivatives accounted for as cash flow hedging instruments have maturities extending to May 2025 and December 2030, respective ly. Included in the AOCI balance as of May 31, 2022 was an estimated net gain of $16.1 million from cash flow hedging instruments that is expected to be reclassified into earnings within the next twelve months. See Note 11, Fair Value, for the fair value of the Company's derivative instruments recorded in the condensed consol

FAIR VALUE

FAIR VALUE	9 Months Ended
	May 31, 2022
Fair Value Disclosures [Abstract]
Fair value	NOTE 11. 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 within the Nature of Operations and Summary of Significant Accounting Policies footnote in the 2021 Form 10-K. 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) May 31, 2022 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 318,095 $ 318,095 $ — $ — Commodity derivative assets (2) 109,225 15,905 — 93,320 Foreign exchange derivative assets (2) 5,998 — 5,998 — Liabilities: Commodity derivative liabilities (2) 1,305 1,305 — — Foreign exchange derivative liabilities (2) 3,568 — 3,568 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2021 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 441,297 $ 441,297 $ — $ — Commodity derivative assets (2) 27,323 910 — 26,413 Foreign exchange derivative assets (2) 2,537 — 2,537 — Liabilities: Commodity derivative liabilities (2) 1,352 1,352 — — Foreign exchange derivative liabilities (2) 1,880 — 1,880 — _________________ (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. Derivatives classified as Level 3 are described below. Further discussion regarding the Company's use of derivative instruments is included in Note 10, Derivatives. The fair value estimate of the Level 3 commodity derivative is based on an internally developed discounted cash flow model primarily utilizing unobservable inputs for which there is little or no market data. The Company forecasts future energy rates using a range of historical prices ("floating rate"). The floating rate is the only significant unobservable input used in the Company's discounted cash flow model. The following table summarizes the floating rate used to measure the fair value of the commodity derivative at May 31, 2022 and 2021: Floating rate (PLN) May 31, Low High Average 2022 343.25 815.64 539.32 2021 217.38 296.36 251.10 Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivative recognized in the condensed consolidated statements of comprehensive income. The fluctuation in energy rates over time causes volatility in the fair value estimate and is the primary reason for unrealized gains included in other comprehensive income ("OCI") in the three and nine months ended May 31, 2022 and 2021. (in thousands) Three Months Ended May 31, 2022 Balance, March 1, 2022 $ 78,879 Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 19,201 Reclassification for gain included in net earnings (2) (4,760) Balance, May 31, 2022 $ 93,320 (in thousands) Nine Months Ended May 31, 2022 Balance, September 1, 2021 $ 26,413 Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 81,039 Reclassification for gain included in net earnings (2) (14,132) Balance, May 31, 2022 $ 93,320 (in thousands) Three Months Ended May 31, 2021 Balance, March 1, 2021 $ (4,285) Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 15,459 Reclassification for gain included in net earnings (2) (693) Balance, May 31, 2021 $ 10,481 (in thousands) Nine Months Ended May 31, 2021 Balance, September 1, 2020 $ (15,007) Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 26,434 Reclassification for gain included in net earnings (2) (946) Balance, May 31, 2021 $ 10,481 ________________ (1) Unrealized holding gains, less amounts reclassified, are included in OCI in the condensed consolidated statements of comprehensive income. (2) Gains included in net earnings are recorded in cost of goods sold in the condensed consolidated statements of earnings. There were no material, non-recurring fair value remeasurements during the three and nine months ended May 31, 2022 or 2021. The carrying values of the Company's short-term items, including documentary letters of credit and notes payable, approximate 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 in the condensed consolidated balance sheets were as follows: May 31, 2022 August 31, 2021 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2032 Notes (1) Level 2 $ 300,000 $ 264,993 $ — $ — 2031 Notes (1) Level 2 300,000 261,390 300,000 306,279 2030 Notes (1) Level 2 300,000 271,815 — — 2027 Notes (1) Level 2 — — 300,000 316,839 2023 Notes (1) Level 2 330,000 333,736 330,000 348,071 Series 2022 Bonds, due 2047 (1) Level 2 145,060 126,778 — — Poland Term Loan (2) Level 2 37,923 37,923 49,726 49,726 Short-term borrowings (2) Level 2 62,627 62,627 26,560 26,560 _________________ (1) The fair values of the notes and the Series 2022 Bonds were determined based on indicated market values. (2) The Poland Term Loan and short-term borrowings contain variable interest rates, and as a result, the carrying values approximate fair value.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	9 Months Ended
	May 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based compensation plans	NOTE 12. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans are described in Note 13, Stock-Based Compensation Plans, to the consolidated financial statements in the 2021 Form 10-K. In general, restricted stock units vest ratably over a period of three years. Subject to the achievement of performance targets established by the Compensation Committee of CMC's Board of Directors, performance stock units vest after a period of three years. During the nine months ended May 31, 2022 and 2021, the Company granted the following awards under its stock-based compensation plans: May 31, 2022 May 31, 2021 (in thousands, except share and per share data) Shares Granted Weighted Average Grant Date Fair Value Shares Granted Weighted Average Grant Date Fair Value Equity method 1,467 $ 28.16 1,512 $ 20.51 Liability method 261 N/A 324 N/A The Company recorded immaterial mark-to-market adjustments on liability awards for the three and nine months ended May 31, 2022, and recorded expense of $3.2 million and $5.0 million for the three and nine months in the corresponding periods. At May 31, 2022, the Company had outstanding 591,483 equivalent shares accounted for under the liability method. The Company expects 561,908 equivalent shares to vest. The following table summarizes total stock-based compensation expense, including fair value remeasurements, which was primarily included in selling, general and administrative expenses in the Company's condensed consolidated statements of earnings: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Stock-based compensation expense $ 11,986 $ 13,800 $ 37,856 $ 35,558

STOCKHOLDERS EQUITY AND EARNING

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE	9 Months Ended
	May 31, 2022
Earnings Per Share [Abstract]
Stockholder's equity and earnings per share	NOTE 14. STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE Basic earnings per share ("EPS") is computed based on the weighted average shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average shares of common stock plus the effect of dilutive securities outstanding during the period using the treasury stock method. The effect of dilutive securities includes the impact of outstanding stock-based incentive awards and shares purchased by employees through participation in the Company's employee stock purchase plan. The calculations of basic and diluted EPS were as follows: Three Months Ended May 31, Nine Months Ended May 31, (in thousands, except share and per share data) 2022 2021 2022 2021 Net earnings $ 312,429 $ 130,408 $ 928,632 $ 260,552 Average basic shares outstanding 121,247,105 120,613,652 121,277,553 120,241,579 Effect of dilutive securities 1,552,764 1,580,003 1,649,738 1,610,565 Average diluted shares outstanding 122,799,869 122,193,655 122,927,291 121,852,144 Earnings per share: Basic $ 2.58 $ 1.08 $ 7.66 $ 2.17 Diluted $ 2.54 $ 1.07 $ 7.55 $ 2.14 Anti-dilutive shares not included above were immaterial for all periods presented. Restricted stock is included in the number of shares of common stock issued and outstanding, but omitted from the basic EPS calculation until the shares vest.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	May 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	NOTE 15. COMMITMENTS AND CONTINGENCIES In the ordinary course of conducting its business, the Company becomes involved in litigation, administrative proceedings and governmental investigations, including environmental matters. At May 31, 2022 and August 31, 2021, the amounts accrued for cleanup and remediation costs at certain sites in response to statutes enforced by the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 ("CERCLA") were immaterial. Total accrued environmental liabilities, including CERCLA sites, were $3.4 million and $7.1 million at May 31, 2022 and August 31, 2021, respectively, of which $2.2 million and $2.3 million were classified as other long-term liabilities at May 31, 2022 and August 31, 2021, respectively. These amounts have not been discounted to their present values. Due to evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors, amounts accrued could vary significantly from amounts paid.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	May 31, 2022
Segment Reporting [Abstract]
Business segments	NOTE 16. BUSINESS SEGMENTS The Company structures its business into two reportable segments: North America and Europe. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, to the consolidated financial statements in the 2021 Form 10-K and Note 2, Acquisition, for more information about the reportable segments, including the types of products and services from which each reportable segment derives its net sales. Corporate and Other contains earnings or losses on assets and liabilities related to the Company's Benefit Restoration Plan assets and short-term investments, expenses of the Company's corporate headquarters, interest expense related to its long-term debt and intercompany eliminations. The following is a summary of certain financial information by reportable segment and Corporate and Other: Three Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Net sales $ 2,033,150 $ 484,564 $ (1,987) $ 2,515,727 Adjusted EBITDA 379,355 120,974 (35,049) 465,280 Nine Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Net sales $ 5,300,996 $ 1,209,378 $ (3,958) $ 6,506,416 Adjusted EBITDA 1,183,342 281,955 (121,876) 1,343,421 Total assets at May 31, 2022 4,297,473 1,164,918 641,311 6,103,702 Three Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Net sales $ 1,558,068 $ 284,107 $ 2,866 $ 1,845,041 Adjusted EBITDA 207,330 50,005 (36,214) 221,121 Nine Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Net sales $ 4,010,567 $ 680,769 $ 7,778 $ 4,699,114 Adjusted EBITDA 534,576 80,582 (108,671) 506,487 Total assets at August 31, 2021 3,221,465 729,766 687,440 4,638,671 The following table presents a reconciliation of net earnings to adjusted EBITDA: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Net earnings $ 312,429 $ 130,408 $ 928,632 $ 260,552 Interest expense 13,433 11,965 36,479 40,245 Income taxes 92,590 38,175 247,894 80,709 Depreciation and amortization 43,583 41,804 125,943 125,176 Asset impairments 3,245 277 4,473 4,345 Amortization of acquired unfavorable contract backlog — (1,508) — (4,540) Adjusted EBITDA $ 465,280 $ 221,121 $ 1,343,421 $ 506,487 Disaggregation of Revenue The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product. Construction-related solutions represents sales of ground stabilization and soil reinforcement solutions and sales from our Construction Services business, which sells and rents construction-related products and equipment to concrete installers and other companies in the construction industry: Three Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 435,171 $ 7,406 $ — $ 442,577 Steel products 851,762 367,810 — 1,219,572 Downstream products 587,568 88,667 — 676,235 Construction-related solutions 121,285 9,481 — 130,766 Other 37,356 10,641 (1,420) 46,577 Net sales from external customers 2,033,142 484,005 (1,420) 2,515,727 Intersegment net sales, eliminated on consolidation 8 559 (567) — Net sales $ 2,033,150 $ 484,564 $ (1,987) $ 2,515,727 Nine Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,155,204 $ 20,230 $ — $ 1,175,434 Steel products 2,192,851 931,369 — 3,124,220 Downstream products 1,561,717 218,280 — 1,779,997 Construction-related solutions 287,422 9,481 — 296,903 Other 103,794 28,556 (2,488) 129,862 Net sales from external customers 5,300,988 1,207,916 (2,488) 6,506,416 Intersegment net sales, eliminated on consolidation 8 1,462 (1,470) — Net sales $ 5,300,996 $ 1,209,378 $ (3,958) $ 6,506,416 Three Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 346,614 $ 5,904 $ — $ 352,518 Steel products 626,084 215,088 — 841,172 Downstream products 475,714 56,444 — 532,158 Construction-related solutions 77,549 — — 77,549 Other 32,107 6,277 3,260 41,644 Net sales from external customers 1,558,068 283,713 3,260 1,845,041 Intersegment net sales, eliminated on consolidation — 394 (394) — Net sales $ 1,558,068 $ 284,107 $ 2,866 $ 1,845,041 Nine Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 811,863 $ 13,509 $ — $ 825,372 Steel products 1,597,942 524,025 — 2,121,967 Downstream products 1,313,140 124,679 — 1,437,819 Construction-related solutions 205,548 — — 205,548 Other 82,074 17,244 9,090 108,408 Net sales from external customers 4,010,567 679,457 9,090 4,699,114 Intersegment net sales, eliminated on consolidation — 1,312 (1,312) — Net sales $ 4,010,567 $ 680,769 $ 7,778 $ 4,699,114

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	May 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	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 year ended August 31, 2021 (the "2021 Form 10-K") filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the Securities and Exchange Commission (the "SEC") and include all normal recurring adjustments necessary to present fairly the condensed consolidated balance sheets and the condensed consolidated statements of earnings, comprehensive income, cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the consolidated financial statements and notes included in the 2021 Form 10-K. The results of operations for the three and nine month periods are not necessarily indicative of the results to be expected for the full fiscal year. Any reference in this Form 10-Q to the "corresponding period" relates to the relevant three or nine month period ended May 31, 2021. Any reference in this Form 10-Q to a year refers to the fiscal year ended August 31st of that year, unless otherwise noted.
Recently Issued Accounting Pronouncements	In October 2021, the Financial Accounting Standards Board issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This standard is effective for annual periods beginning after December 15, 2022, including interim periods therein, with early adoption permitted. The guidance will be applied prospectively to acquisitions occurring on or after the effective date. The Company will continue to evaluate the impact of this guidance, which will depend on the contract assets and liabilities acquired in future business combinations.In November 2021, the Financial Accounting Standards Board issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance. ASU 2021-10 aims to increase the transparency of government assistance through the disclosure of the types of assistance, an entity's accounting for the assistance and the effect of the assistance on an entity's financial statements. This standard is effective for annual periods beginning after December 15, 2021, with early adoption permitted. The Company will continue to evaluate the impact of this guidance based on government assistance received.
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 within the Nature of Operations and Summary of Significant Accounting Policies footnote in the 2021 Form 10-K.

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	May 31, 2022
Business Combinations [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Assumed	The table below presents the preliminary fair value that was allocated to Tensar's assets and liabilities based upon fair values as determined by the Company as of the Acquisition Date: (in thousands) Estimated Fair Value Cash and cash equivalents $ 19,551 Accounts receivable 38,188 Inventories 38,810 Prepaid and other current assets 14,143 Defined benefit pension plan 14,620 Property, plant and equipment 88,541 Intangible assets 260,500 Goodwill 187,861 Other noncurrent assets 19,430 Accounts payable (12,468) Accrued expenses and other payables (23,307) Current maturities of long-term debt (3,277) Deferred income taxes (48,683) Other noncurrent liabilities (17,597) Long-term debt (4,312) Total assets acquired and liabilities assumed $ 572,000
Schedule of Acquired Finite-Lived Intangible Assets	The acquired intangible assets consist of: (in thousands, except life in years) Life in Years Preliminary Fair Value Developed technologies 1 to 11 years $ 147,900 Trade names 8 to 9 years or indefinite 57,000 Customer relationships 12 to 17 years 53,200 In-process research and development Indefinite 2,400
Schedule of Pro Forma Information	The following table summarizes the financial results of Tensar from the Acquisition Date through the end of the third quarter of fiscal 2022 that are included in the Company’s condensed consolidated statement of earnings and condensed consolidated statement of comprehensive income. (in thousands) From the Acquisition Date to May 31, 2022 Net sales $ 27,962 Earnings before income taxes 1,656 Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Pro forma net sales $ 2,554,295 $ 1,908,133 $ 6,657,257 $ 4,854,727 Pro forma net earnings 318,736 134,854 942,369 261,218

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	May 31, 2022
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 May 31, 2022 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, March 1, 2022 $ (159,829) $ 68,886 $ (933) $ (91,876) Other comprehensive income (loss) before reclassifications (14,668) 32,302 (7) 17,627 Reclassification for gain (1) — (6,342) — (6,342) Income tax (expense) benefit — (5,140) 1 (5,139) Net other comprehensive income (loss) (14,668) 20,820 (6) 6,146 Balance, May 31, 2022 $ (174,497) $ 89,706 $ (939) $ (85,730) Nine Months Ended May 31, 2022 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, September 1, 2021 $ (105,680) $ 21,781 $ (921) $ (84,820) Other comprehensive income (loss) before reclassifications (68,817) 100,820 (23) 31,980 Reclassification for gain (1) — (16,667) — (16,667) Income tax (expense) benefit — (16,228) 5 (16,223) Net other comprehensive income (loss) (68,817) 67,925 (18) (910) Balance, May 31, 2022 $ (174,497) $ 89,706 $ (939) $ (85,730) Three Months Ended May 31, 2021 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, March 1, 2021 $ (94,856) $ (2,760) $ (4,524) $ (102,140) Other comprehensive income (loss) before reclassifications 11,775 14,056 (14) 25,817 Reclassification for gain (1) — (719) — (719) Income tax expense — (1,808) — (1,808) Net other comprehensive income (loss) 11,775 11,529 (14) 23,290 Balance, May 31, 2021 $ (83,081) $ 8,769 $ (4,538) $ (78,850) Nine Months Ended May 31, 2021 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Obligation Total AOCI Balance, September 1, 2020 $ (87,933) $ (11,334) $ (4,497) $ (103,764) Other comprehensive income (loss) before reclassifications 4,852 25,028 (48) 29,832 Reclassification for gain (1) — (1,106) — (1,106) Income tax (expense) benefit — (3,819) 7 (3,812) Net other comprehensive income (loss) 4,852 20,103 (41) 24,914 Balance, May 31, 2021 $ (83,081) $ 8,769 $ (4,538) $ (78,850) _________________ (1) Reclassifications for gains on derivatives included in net earnings are recorded in cost of goods sold in the condensed consolidated statements of earnings.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	May 31, 2022
Revenue from Contract with Customer [Abstract]
Information avout Assets and Liabilities from Contracts with Customers	The following table provides information about assets and liabilities from contracts with customers: (in thousands) May 31, 2022 August 31, 2021 Contract assets (included in accounts receivable) $ 58,350 $ 64,168 Contract liabilities (included in accrued expenses and other payables) 23,214 23,948

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	May 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories were as follows: (in thousands) May 31, 2022 August 31, 2021 Raw materials $ 391,208 $ 286,123 Work in process 9,488 6,881 Finished goods 945,590 642,383 Total $ 1,346,286 $ 935,387

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	9 Months Ended
	May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	Goodwill by reportable segment is detailed in the following table: (in thousands) North America Europe Consolidated Goodwill, gross Balance at September 1, 2021 $ 71,941 $ 4,390 $ 76,331 Foreign currency translation — (451) (451) Acquisition 113,991 73,870 187,861 Balance at May 31, 2022 185,932 77,809 263,741 Accumulated impairment Balance at September 1, 2021 (10,036) (158) (10,194) Foreign currency translation — 16 16 Balance at May 31, 2022 (10,036) (142) (10,178) Goodwill, net Balance at September 1, 2021 61,905 4,232 66,137 Foreign currency translation — (435) (435) Acquisition 113,991 73,870 187,861 Balance at May 31, 2022 $ 175,896 $ 77,667 $ 253,563 Other intangible assets subject to amortization are detailed in the following table: May 31, 2022 August 31, 2021 (in thousands) Weighted Average Useful Lives Gross Accumulated Amortization Net Gross Accumulated Amortization Net Patents 5 to 7.5 years $ 7,203 $ 4,352 $ 2,851 $ 7,203 $ 3,621 $ 3,582 Customer relationships 8 years 4,996 4,996 — 6,079 5,629 450 Perpetual lease rights 80 years 3,943 807 3,136 4,395 860 3,535 Non-compete agreements 5 to 7 years 3,050 1,046 2,004 3,050 778 2,272 Other 5 to 15 years 939 745 194 939 677 262 Due to acquisition of Tensar: Developed technologies 1 to 11 years 147,900 1,902 145,998 — — — Customer relationships 12 to 17 years 53,200 421 52,779 — — — Trade names 8 to 9 years 2,406 28 2,378 — — — Total $ 223,637 $ 14,297 $ 209,340 $ 21,666 $ 11,565 $ 10,101 Intangible assets with indefinite lives resulting from the acquisition of Tensar include trade names and in-process research and development with gross carrying amounts of $54.7 million and $2.4 million, respectively, at May 31, 2022. The Company did not have any significant intangible assets with indefinite lives at August 31, 2021. Estimated amounts of amortization expense for the next five fiscal years are as follows: (in thousands) Remainder of 2022 $ 5,868 2023 23,363 2024 22,109 2025 20,551 2026 19,363

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	May 31, 2022
Leases [Abstract]
Schedule of Balance Sheet Components of Leases	The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's condensed consolidated balance sheets: (in thousands) Classification in Condensed Consolidated Balance Sheets May 31, 2022 August 31, 2021 Assets: Operating assets Other noncurrent assets $ 134,321 $ 112,202 Finance assets Property, plant and equipment, net 59,791 55,308 Total leased assets $ 194,112 $ 167,510 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 31,185 $ 26,433 Long-term Other noncurrent liabilities 105,971 93,409 Total operating lease liabilities 137,156 119,842 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 18,060 16,040 Long-term Long-term debt 36,905 36,104 Total finance lease liabilities 54,965 52,144 Total lease liabilities $ 192,121 $ 171,986
Lease Cost	The components of lease expense were as follows: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Operating lease expense $ 8,659 $ 8,377 $ 25,991 $ 25,750 Finance lease expense: Amortization of assets 3,268 3,270 9,722 9,729 Interest on lease liabilities 508 555 1,520 1,673 Total finance lease expense 3,776 3,825 11,242 11,402 Variable and short-term lease expense 6,046 4,584 16,197 13,871 Total lease expense $ 18,481 $ 16,786 $ 53,430 $ 51,023 The weighted average remaining lease term and discount rate for operating and finance leases are presented in the following table: May 31, 2022 August 31, 2021 Weighted average remaining lease term (years): Operating leases 5.4 6.2 Finance leases 3.4 3.6 Weighted average discount rate: Operating leases 4.033 % 4.451 % Finance leases 4.057 % 4.079 %
Cash Flow and Other Information Related to Leases	Nine Months Ended May 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 26,481 $ 25,862 Operating cash outflows from finance leases 1,521 1,665 Financing cash outflows from finance leases 12,847 11,706 Right of use assets obtained in exchange for lease obligations: Operating leases $ 45,949 $ 23,019 Finance leases 15,670 14,002
Maturity of Operating Lease Liabilities	Future maturities of lease liabilities at May 31, 2022 are presented in the following table: (in thousands) Operating Leases Finance Leases Year 1 $ 36,496 $ 19,890 Year 2 30,653 17,390 Year 3 24,942 12,538 Year 4 19,898 5,730 Year 5 13,750 2,467 Thereafter 28,500 331 Total lease payments 154,239 58,346 Less imputed interest (17,083) (3,381) Present value of lease liabilities $ 137,156 $ 54,965
Maturity of Finance Lease Liabilities	Future maturities of lease liabilities at May 31, 2022 are presented in the following table: (in thousands) Operating Leases Finance Leases Year 1 $ 36,496 $ 19,890 Year 2 30,653 17,390 Year 3 24,942 12,538 Year 4 19,898 5,730 Year 5 13,750 2,467 Thereafter 28,500 331 Total lease payments 154,239 58,346 Less imputed interest (17,083) (3,381) Present value of lease liabilities $ 137,156 $ 54,965

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	9 Months Ended
	May 31, 2022
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 Interest Rate as of May 31, 2022 May 31, 2022 August 31, 2021 2032 Notes 4.375% $ 300,000 $ — 2031 Notes 3.875% 300,000 300,000 2030 Notes 4.125% 300,000 — 2027 Notes 5.375% — 300,000 2023 Notes 4.875% 330,000 330,000 Series 2022 Bonds, due 2047 4.000% 145,060 — Poland Term Loan 7.890% 37,923 49,726 Short-term borrowings 6.180% 62,627 26,560 Other 4.560% 20,151 19,492 Finance leases 54,965 52,144 Total debt 1,550,726 1,077,922 Less unamortized debt issuance costs (17,043) (8,141) Plus unamortized bond premium 4,886 — Total amounts outstanding 1,538,569 1,069,781 Less current maturities of long-term debt and short-term borrowings (423,091) (54,366) Long-term debt $ 1,115,478 $ 1,015,415

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	May 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity contract commitments	The following table provides information regarding the Company's commodity contract commitments at May 31, 2022: Commodity Long/Short Total Aluminum Long 3,300 MT Aluminum Short 1,525 MT Copper Long 975 MT Copper Short 8,482 MT Electricity Long 1,717,000 MW(h) Natural Gas Long 4,870,250 MMBtu _________________ MT = Metric Ton MW(h) = Megawatt hour MMBtu = Metric Million British thermal unit
Derivative instruments, gain (loss)	The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the condensed consolidated statements of earnings. All other activity related to the Company's derivative instruments and hedged items was immaterial for the periods presented. Three Months Ended May 31, Nine Months Ended May 31, Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Primary Location 2022 2021 2022 2021 Commodity Cost of goods sold $ 2,042 $ (7,921) $ 2,574 $ (24,535) Foreign exchange SG&A expenses 6,157 1,915 (2,886) 75 Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Loss (in thousands) Three Months Ended May 31, Nine Months Ended May 31, 2022 2021 2022 2021 Commodity $ 25,920 $ 12,167 $ 81,285 $ 20,971

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	May 31, 2022
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) May 31, 2022 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 318,095 $ 318,095 $ — $ — Commodity derivative assets (2) 109,225 15,905 — 93,320 Foreign exchange derivative assets (2) 5,998 — 5,998 — Liabilities: Commodity derivative liabilities (2) 1,305 1,305 — — Foreign exchange derivative liabilities (2) 3,568 — 3,568 — Fair Value Measurements at Reporting Date Using (in thousands) August 31, 2021 Quoted Prices in Significant Other Significant Assets: Investment deposit accounts (1) $ 441,297 $ 441,297 $ — $ — Commodity derivative assets (2) 27,323 910 — 26,413 Foreign exchange derivative assets (2) 2,537 — 2,537 — Liabilities: Commodity derivative liabilities (2) 1,352 1,352 — — Foreign exchange derivative liabilities (2) 1,880 — 1,880 — _________________ (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. Derivatives classified as Level 3 are described below. Further discussion regarding the Company's use of derivative instruments is included in Note 10, Derivatives. The fair value estimate of the Level 3 commodity derivative is based on an internally developed discounted cash flow model primarily utilizing unobservable inputs for which there is little or no market data. The Company forecasts future energy rates using a range of historical prices ("floating rate"). The floating rate is the only significant unobservable input used in the Company's discounted cash flow model. The following table summarizes the floating rate used to measure the fair value of the commodity derivative at May 31, 2022 and 2021: Floating rate (PLN) May 31, Low High Average 2022 343.25 815.64 539.32 2021 217.38 296.36 251.10
Fair value, net derivative asset (liability) measured on recurring basis, unobservable input reconciliation	Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivative recognized in the condensed consolidated statements of comprehensive income. The fluctuation in energy rates over time causes volatility in the fair value estimate and is the primary reason for unrealized gains included in other comprehensive income ("OCI") in the three and nine months ended May 31, 2022 and 2021. (in thousands) Three Months Ended May 31, 2022 Balance, March 1, 2022 $ 78,879 Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 19,201 Reclassification for gain included in net earnings (2) (4,760) Balance, May 31, 2022 $ 93,320 (in thousands) Nine Months Ended May 31, 2022 Balance, September 1, 2021 $ 26,413 Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 81,039 Reclassification for gain included in net earnings (2) (14,132) Balance, May 31, 2022 $ 93,320 (in thousands) Three Months Ended May 31, 2021 Balance, March 1, 2021 $ (4,285) Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 15,459 Reclassification for gain included in net earnings (2) (693) Balance, May 31, 2021 $ 10,481 (in thousands) Nine Months Ended May 31, 2021 Balance, September 1, 2020 $ (15,007) Total gains, realized and unrealized: Unrealized holding gain before reclassification (1) 26,434 Reclassification for gain included in net earnings (2) (946) Balance, May 31, 2021 $ 10,481 ________________ (1) Unrealized holding gains, less amounts reclassified, are included in OCI in the condensed consolidated statements of comprehensive income. (2) Gains included in net earnings are recorded in cost of goods sold in the condensed consolidated statements of earnings.
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 in the condensed consolidated balance sheets were as follows: May 31, 2022 August 31, 2021 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value 2032 Notes (1) Level 2 $ 300,000 $ 264,993 $ — $ — 2031 Notes (1) Level 2 300,000 261,390 300,000 306,279 2030 Notes (1) Level 2 300,000 271,815 — — 2027 Notes (1) Level 2 — — 300,000 316,839 2023 Notes (1) Level 2 330,000 333,736 330,000 348,071 Series 2022 Bonds, due 2047 (1) Level 2 145,060 126,778 — — Poland Term Loan (2) Level 2 37,923 37,923 49,726 49,726 Short-term borrowings (2) Level 2 62,627 62,627 26,560 26,560 _________________ (1) The fair values of the notes and the Series 2022 Bonds were determined based on indicated market values. (2) The Poland Term Loan and short-term borrowings contain variable interest rates, and as a result, the carrying values approximate fair value.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	9 Months Ended
	May 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Awards Granted	During the nine months ended May 31, 2022 and 2021, the Company granted the following awards under its stock-based compensation plans: May 31, 2022 May 31, 2021 (in thousands, except share and per share data) Shares Granted Weighted Average Grant Date Fair Value Shares Granted Weighted Average Grant Date Fair Value Equity method 1,467 $ 28.16 1,512 $ 20.51 Liability method 261 N/A 324 N/A
Schedule of Stock-based Compensation Expense	The following table summarizes total stock-based compensation expense, including fair value remeasurements, which was primarily included in selling, general and administrative expenses in the Company's condensed consolidated statements of earnings: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Stock-based compensation expense $ 11,986 $ 13,800 $ 37,856 $ 35,558

STOCKHOLDERS_ EQUITY AND EARNIN

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE (Tables)	9 Months Ended
	May 31, 2022
Earnings Per Share [Abstract]
Calculations of the basic and diluted earnings per share from continuing operations	The calculations of basic and diluted EPS were as follows: Three Months Ended May 31, Nine Months Ended May 31, (in thousands, except share and per share data) 2022 2021 2022 2021 Net earnings $ 312,429 $ 130,408 $ 928,632 $ 260,552 Average basic shares outstanding 121,247,105 120,613,652 121,277,553 120,241,579 Effect of dilutive securities 1,552,764 1,580,003 1,649,738 1,610,565 Average diluted shares outstanding 122,799,869 122,193,655 122,927,291 121,852,144 Earnings per share: Basic $ 2.58 $ 1.08 $ 7.66 $ 2.17 Diluted $ 2.54 $ 1.07 $ 7.55 $ 2.14

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	May 31, 2022
Segment Reporting [Abstract]
Summary of certain financial information from continuing operations by reportable segment	The following is a summary of certain financial information by reportable segment and Corporate and Other: Three Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Net sales $ 2,033,150 $ 484,564 $ (1,987) $ 2,515,727 Adjusted EBITDA 379,355 120,974 (35,049) 465,280 Nine Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Net sales $ 5,300,996 $ 1,209,378 $ (3,958) $ 6,506,416 Adjusted EBITDA 1,183,342 281,955 (121,876) 1,343,421 Total assets at May 31, 2022 4,297,473 1,164,918 641,311 6,103,702 Three Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Net sales $ 1,558,068 $ 284,107 $ 2,866 $ 1,845,041 Adjusted EBITDA 207,330 50,005 (36,214) 221,121 Nine Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Net sales $ 4,010,567 $ 680,769 $ 7,778 $ 4,699,114 Adjusted EBITDA 534,576 80,582 (108,671) 506,487 Total assets at August 31, 2021 3,221,465 729,766 687,440 4,638,671
Reconciliations of earnings from continuing operations to adjusted operating profit	The following table presents a reconciliation of net earnings to adjusted EBITDA: Three Months Ended May 31, Nine Months Ended May 31, (in thousands) 2022 2021 2022 2021 Net earnings $ 312,429 $ 130,408 $ 928,632 $ 260,552 Interest expense 13,433 11,965 36,479 40,245 Income taxes 92,590 38,175 247,894 80,709 Depreciation and amortization 43,583 41,804 125,943 125,176 Asset impairments 3,245 277 4,473 4,345 Amortization of acquired unfavorable contract backlog — (1,508) — (4,540) Adjusted EBITDA $ 465,280 $ 221,121 $ 1,343,421 $ 506,487
Net sales by major product	The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product. Construction-related solutions represents sales of ground stabilization and soil reinforcement solutions and sales from our Construction Services business, which sells and rents construction-related products and equipment to concrete installers and other companies in the construction industry: Three Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 435,171 $ 7,406 $ — $ 442,577 Steel products 851,762 367,810 — 1,219,572 Downstream products 587,568 88,667 — 676,235 Construction-related solutions 121,285 9,481 — 130,766 Other 37,356 10,641 (1,420) 46,577 Net sales from external customers 2,033,142 484,005 (1,420) 2,515,727 Intersegment net sales, eliminated on consolidation 8 559 (567) — Net sales $ 2,033,150 $ 484,564 $ (1,987) $ 2,515,727 Nine Months Ended May 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,155,204 $ 20,230 $ — $ 1,175,434 Steel products 2,192,851 931,369 — 3,124,220 Downstream products 1,561,717 218,280 — 1,779,997 Construction-related solutions 287,422 9,481 — 296,903 Other 103,794 28,556 (2,488) 129,862 Net sales from external customers 5,300,988 1,207,916 (2,488) 6,506,416 Intersegment net sales, eliminated on consolidation 8 1,462 (1,470) — Net sales $ 5,300,996 $ 1,209,378 $ (3,958) $ 6,506,416 Three Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 346,614 $ 5,904 $ — $ 352,518 Steel products 626,084 215,088 — 841,172 Downstream products 475,714 56,444 — 532,158 Construction-related solutions 77,549 — — 77,549 Other 32,107 6,277 3,260 41,644 Net sales from external customers 1,558,068 283,713 3,260 1,845,041 Intersegment net sales, eliminated on consolidation — 394 (394) — Net sales $ 1,558,068 $ 284,107 $ 2,866 $ 1,845,041 Nine Months Ended May 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 811,863 $ 13,509 $ — $ 825,372 Steel products 1,597,942 524,025 — 2,121,967 Downstream products 1,313,140 124,679 — 1,437,819 Construction-related solutions 205,548 — — 205,548 Other 82,074 17,244 9,090 108,408 Net sales from external customers 4,010,567 679,457 9,090 4,699,114 Intersegment net sales, eliminated on consolidation — 1,312 (1,312) — Net sales $ 4,010,567 $ 680,769 $ 7,778 $ 4,699,114

ACQUISITION - Additional Inform

ACQUISITION - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Apr. 25, 2022	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 552,449	$ 0
Goodwill		$ 253,563		253,563		$ 66,137
Cost of goods sold		(1,956,459)	$ (1,533,768)	(5,157,834)	(3,936,930)
Tensar
Business Acquisition [Line Items]
Cash acquired from acquisition	$ 19,600
Acquisitions, net of cash acquired	550,000
Inventory adjustment	2,200	2,200		2,200
Defined benefit pension plan	14,620
Goodwill	$ 187,861
Non-recurring acquisition and integration costs		4,500		7,600
Amortization		$ (1,900)	$ (3,100)	(8,100)	$ (9,300)
Cost of goods sold				$ (8,700)
Tensar | Real Property | Minimum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	5 years
Tensar | Real Property | Maximum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	25 years
Tensar | Personal Property | Minimum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	1 year
Tensar | Personal Property | Maximum
Business Acquisition [Line Items]
Property, plant and equipment, useful life	15 years

ACQUISITION - Assets Acquired a

ACQUISITION - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	May 31, 2022	Apr. 25, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 253,563		$ 66,137
Tensar
Business Acquisition [Line Items]
Cash and cash equivalents		$ 19,551
Accounts receivable		38,188
Inventories		38,810
Prepaid and other current assets		14,143
Defined benefit pension plan		14,620
Property, plant and equipment		88,541
Intangible assets		260,500
Goodwill		187,861
Other noncurrent assets		19,430
Accounts payable		(12,468)
Accrued expenses and other payables		(23,307)
Current maturities of long-term debt		(3,277)
Deferred income taxes		(48,683)
Other noncurrent liabilities		(17,597)
Long-term debt		(4,312)
Total assets acquired and liabilities assumed		$ 572,000

ACQUISITION - Acquired Amortiza

ACQUISITION - Acquired Amortizable Intangible Assets (Liabilities) (Details) - Tensar - USD ($) $ in Thousands	Apr. 25, 2022	May 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, indefinite-lived intangibles	$ 2,400
Developed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	147,900
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	57,000	$ 54,700
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	$ 53,200
Minimum | Developed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	1 year
Minimum | Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	8 years
Minimum | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	12 years
Maximum | Developed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	11 years
Maximum | Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	9 years
Maximum | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	17 years

ACQUISITION - Financial Results

ACQUISITION - Financial Results and Pro Forma Information (Details) - Tensar - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Business Acquisition [Line Items]
Net sales	$ 27,962
Earnings before income taxes	$ 1,656
Pro forma net sales		$ 2,554,295	$ 1,908,133	$ 6,657,257	$ 4,854,727
Pro forma net earnings		$ 318,736	$ 134,854	$ 942,369	$ 261,218

CHANGES IN BUSINESS (Details)

CHANGES IN BUSINESS (Details) - USD ($) $ in Thousands		1 Months Ended	9 Months Ended
	Dec. 28, 2021	Jan. 31, 2022	May 31, 2022	Aug. 31, 2021	May 31, 2021
Business Combinations [Abstract]
Facility closure costs			$ 13,400
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale			60	$ 25,083
Restricted cash	$ 39,000		126,264	3,384	$ 3,491
Payments to acquire assets		$ 7,500
Assets, Current
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restricted cash			31,500
Rancho Cucamonga Facility and Rebar Fabrication Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale			$ 24,900	$ 24,900
Proceeds from sale of assets	$ 313,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (91,876)	$ (102,140)	$ (84,820)	$ (103,764)
Other comprehensive income (loss) before reclassifications	17,627	25,817	31,980	29,832
Reclassification for gain	(6,342)	(719)	(16,667)	(1,106)
Income tax (expense) benefit	(5,139)	(1,808)	(16,223)	(3,812)
Total other comprehensive income (loss), net of income taxes	6,146	23,290	(910)	24,914
Ending balance	(85,730)	(78,850)	(85,730)	(78,850)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(159,829)	(94,856)	(105,680)	(87,933)
Other comprehensive income (loss) before reclassifications	(14,668)	11,775	(68,817)	4,852
Reclassification for gain	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Total other comprehensive income (loss), net of income taxes	(14,668)	11,775	(68,817)	4,852
Ending balance	(174,497)	(83,081)	(174,497)	(83,081)
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	68,886	(2,760)	21,781	(11,334)
Other comprehensive income (loss) before reclassifications	32,302	14,056	100,820	25,028
Reclassification for gain	(6,342)	(719)	(16,667)	(1,106)
Income tax (expense) benefit	(5,140)	(1,808)	(16,228)	(3,819)
Total other comprehensive income (loss), net of income taxes	20,820	11,529	67,925	20,103
Ending balance	89,706	8,769	89,706	8,769
Defined Benefit Obligation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(933)	(4,524)	(921)	(4,497)
Other comprehensive income (loss) before reclassifications	(7)	(14)	(23)	(48)
Reclassification for gain	0	0	0	0
Income tax (expense) benefit	1	0	5	7
Total other comprehensive income (loss), net of income taxes	(6)	(14)	(18)	(41)
Ending balance	$ (939)	$ (4,538)	$ (939)	$ (4,538)

REVENUE RECOGNITION - Revenue R

REVENUE RECOGNITION - Revenue Recognition Method (Details) - Americas Fabrication - Recognized over Time	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Fabricated Product and Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	7%	7%	8%	10%
Fabricated Product without Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	8%	9%		9%

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets (included in other current assets)	$ 58,350	$ 64,168
Contract liabilities (included in accrued expenses and other payables)	$ 23,214	$ 23,948

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) $ in Millions	9 Months Ended
	May 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue reclassified from contract liabilities	$ 19.7
Remaining performance obligation	$ 962.2

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 391,208	$ 286,123
Work in process	9,488	6,881
Finished goods	945,590	642,383
Total	$ 1,346,286	$ 935,387

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	9 Months Ended
	May 31, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	$ 76,331
Goodwill, gross, foreign currency translation	451
Goodwill, gross, acquisition	187,861
Goodwill, gross, ending balance	263,741
Accumulated impairment losses, beginning balance	10,194
Accumulated impairment, foreign currency translation	16
Accumulated impairment losses, ending balance	10,178
Goodwill, net, beginning balance	66,137
Goodwill, net, foreign currency translation	(435)
Goodwill, net, acquisition	187,861
Goodwill, net, ending balance	253,563
North America
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	71,941
Goodwill, gross, foreign currency translation	0
Goodwill, gross, acquisition	113,991
Goodwill, gross, ending balance	185,932
Accumulated impairment losses, beginning balance	10,036
Accumulated impairment, foreign currency translation	0
Accumulated impairment losses, ending balance	10,036
Goodwill, net, beginning balance	61,905
Goodwill, net, foreign currency translation	0
Goodwill, net, acquisition	113,991
Goodwill, net, ending balance	175,896
Europe
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	4,390
Goodwill, gross, foreign currency translation	451
Goodwill, gross, acquisition	73,870
Goodwill, gross, ending balance	77,809
Accumulated impairment losses, beginning balance	158
Accumulated impairment, foreign currency translation	16
Accumulated impairment losses, ending balance	142
Goodwill, net, beginning balance	4,232
Goodwill, net, foreign currency translation	(435)
Goodwill, net, acquisition	73,870
Goodwill, net, ending balance	$ 77,667

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands		9 Months Ended
	Apr. 25, 2022	May 31, 2022	Aug. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 223,637	$ 21,666
Accumulated Amortization		14,297	11,565
Net		209,340	10,101
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		7,203	7,203
Accumulated Amortization		4,352	3,621
Net		$ 2,851	3,582
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		8 years
Gross Carrying Amount		$ 4,996	6,079
Accumulated Amortization		4,996	5,629
Net		0	450
Customer relationships | Tensar
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		53,200	0
Accumulated Amortization		421	0
Net		$ 52,779	0
Perpetual lease rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		80 years
Gross Carrying Amount		$ 3,943	4,395
Accumulated Amortization		807	860
Net		3,136	3,535
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		3,050	3,050
Accumulated Amortization		1,046	778
Net		2,004	2,272
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		939	939
Accumulated Amortization		745	677
Net		194	262
Developed technologies | Tensar
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		147,900	0
Accumulated Amortization		1,902	0
Net		145,998	0
Trade names | Tensar
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		2,406	0
Accumulated Amortization		28	0
Net		$ 2,378	$ 0
Minimum | Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Minimum | Customer relationships | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	12 years
Minimum | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Minimum | Other
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Minimum | Developed technologies | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	1 year
Minimum | Trade names | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	8 years
Maximum | Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		7 years 6 months
Maximum | Customer relationships | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	17 years
Maximum | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		7 years
Maximum | Other
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		15 years
Maximum | Developed technologies | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	11 years
Maximum | Trade names | Tensar
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	9 years

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES (Narrative) (Details) - Tensar - USD ($) $ in Thousands	May 31, 2022	Apr. 25, 2022
Trade names
Goodwill [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	$ 54,700	$ 57,000
In Process Research and Development
Goodwill [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles	$ 2,400

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) $ in Thousands	May 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 5,868
2023	23,363
2024	22,109
2025	20,551
2026	$ 19,363

LEASES - Balance Sheet Componen

LEASES - Balance Sheet Components (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Leased Assets [Abstract]
Operating Lease, Right-of-Use Asset	$ 134,321	$ 112,202
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	59,791	55,308
Right-of-Use Asset	194,112	167,510
Lessee, Operating Lease, Description [Abstract]
Operating Lease, Liability, Current	$ 31,185	$ 26,433
Operating lease liabilities, Current [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent	$ 105,971	$ 93,409
Operating lease liabilities, Long-term [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Operating Lease, Liability, Total	$ 137,156	$ 119,842
Lessee, Finance Lease, Description [Abstract]
Finance Lease, Liability, Current	18,060	16,040
Finance Lease, Liability, Noncurrent	36,905	36,104
Finance Lease, Liability, Total	54,965	52,144
Lease Liability	$ 192,121	$ 171,986

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Leases [Abstract]
Operating lease expense	$ 8,659	$ 8,377	$ 25,991	$ 25,750
Finance lease expense:
Amortization of assets	3,268	3,270	9,722	9,729
Interest on lease liabilities	508	555	1,520	1,673
Total finance lease expense	3,776	3,825	11,242	11,402
Variable and short-term lease expense	6,046	4,584	16,197	13,871
Total lease expense	$ 18,481	$ 16,786	$ 53,430	$ 51,023

LEASES - Weighted Average Lease

LEASES - Weighted Average Lease Terms and Discount Rates (Details)	May 31, 2022	Aug. 31, 2021
Leases [Abstract]
Operating leases, remaining term	5 years 4 months 24 days	6 years 2 months 12 days
Finance leases, remaining term	3 years 4 months 24 days	3 years 7 months 6 days
Operating leases, weighted average discount rate	4.033%	4.451%
Finance leases, weighted average discount rate	4.057%	4.079%

LEASES - Cash Flow and Other In

LEASES - Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 26,481	$ 25,862
Operating cash outflows from finance leases	1,521	1,665
Financing cash outflows from finance leases	12,847	11,706
Right-of-Use Assets Obtained in Exchange for Lease Obligations [Abstract]
Operating leases	45,949	23,019
Finance leases	$ 15,670	$ 14,002

LEASES - Maturity of Lease Liab

LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Year 1	$ 36,496
Year 2	30,653
Year 3	24,942
Year 4	19,898
Year 5	13,750
Thereafter	28,500
Total lease payments	154,239
Less imputed interest	(17,083)
Present value of lease liabilities	137,156	$ 119,842
Finance Lease, Liability, Payment, Due [Abstract]
Year 1	19,890
Year 2	17,390
Year 3	12,538
Year 4	5,730
Year 5	2,467
Thereafter	331
Total lease payments	58,346
Less imputed interest	(3,381)
Present value of lease liabilities	$ 54,965	$ 52,144

CREDIT ARRANGEMENTS (Schedule o

CREDIT ARRANGEMENTS (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	May 31, 2022	Jan. 31, 2022	Aug. 31, 2021	Jul. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 1,550,726		$ 1,077,922
Less debt issuance costs	(17,043)	$ (9,400)	(8,141)
Total amounts outstanding	1,538,569		1,069,781
Less current maturities of long-term debt	(423,091)		(54,366)
Long-term debt	$ 1,115,478		1,015,415
2032 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.375%	4.375%
Total debt	$ 300,000		0
2032 Notes | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 264,993		0
2031 Notes
Debt Instrument [Line Items]
Weighted average interest rate	3.875%
Total debt	$ 300,000		300,000
2031 Notes | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 261,390		306,279
2030 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.125%	4.125%
Total debt	$ 300,000		0
2030 Notes | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 271,815		0
2027 Notes
Debt Instrument [Line Items]
Weighted average interest rate	5.375%			5.375%
Total debt	$ 0		300,000
2027 Notes | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 0		316,839
2023 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.875%
Total debt	$ 330,000		330,000
2023 Notes | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 333,736		348,071
Series 2022 Bonds, due 2047
Debt Instrument [Line Items]
Weighted average interest rate	4%
Total debt	$ 145,060		0
Less debt issuance costs	(3,100)
Plus unamortized bond premium	4,886		0
Series 2022 Bonds, due 2047 | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 126,778		0
Poland Term Loan | Revolving credit facility
Debt Instrument [Line Items]
Weighted average interest rate	7.89%
Total debt	$ 37,923		49,726
Poland Term Loan | Revolving credit facility | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt	$ 37,923		49,726
Other
Debt Instrument [Line Items]
Weighted average interest rate	4.56%
Total debt	$ 20,151		19,492
Finance leases
Debt Instrument [Line Items]
Total debt	$ 54,965		52,144
Short-term borrowings
Debt Instrument [Line Items]
Weighted average interest rate, short term	6.18%
Total debt	$ 62,627		26,560
Short-term borrowings | Significant Other Observable Inputs (Level 2) | Fair Value
Debt Instrument [Line Items]
Total debt			$ 26,560

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details)		1 Months Ended		3 Months Ended		9 Months Ended
	May 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jan. 31, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2021 USD ($)	May 31, 2022 USD ($)	May 31, 2021 USD ($)	May 31, 2022 PLN (zł)	Aug. 31, 2021 USD ($)	Aug. 31, 2021 PLN (zł)	Mar. 31, 2021 USD ($)	Jul. 31, 2017 USD ($)
Debt Instrument [Line Items]
Less debt issuance costs	$ 17,043,000		$ 9,400,000	$ 17,043,000		$ 17,043,000			$ 8,141,000
Payments to acquire assets			7,500,000
Financial liabilities	1,550,726,000			1,550,726,000		1,550,726,000			1,077,922,000
Loss on debt extinguishment				(39,000)	$ 0	(16,091,000)	$ (16,841,000)
CMCP
Debt Instrument [Line Items]
Revolving credit facility, amount drawn	0			0		0			0
Revolving credit facility current borrowing capacity	70,300,000			70,300,000		70,300,000		zł 300,000,000	78,300,000
Poland Program
Debt Instrument [Line Items]
Transfer of accounts receivable program limit	67,500,000			67,500,000		67,500,000		288,000,000
Advances outstanding under transfer of receivables programs	62,600,000			62,600,000		62,600,000		zł 267,400,000	26,600,000	zł 101,700,000
Revolving credit facility | Credit Agreement Maturing March 2026
Debt Instrument [Line Items]
Revolving credit facility, amount drawn	0			0		0			0
Revolving credit facility current borrowing capacity											$ 400,000,000
Stand-by letters of credit
Debt Instrument [Line Items]
Stand by letters of credit outstanding amount	$ 1,400,000			$ 1,400,000		$ 1,400,000			3,000,000
2030 Notes
Debt Instrument [Line Items]
Face amount of debt			$ 300,000,000
Weighted average interest rate	4.125%		4.125%	4.125%		4.125%		4.125%
Financial liabilities	$ 300,000,000			$ 300,000,000		$ 300,000,000			0
2032 Notes
Debt Instrument [Line Items]
Face amount of debt			$ 300,000,000
Weighted average interest rate	4.375%		4.375%	4.375%		4.375%		4.375%
Financial liabilities	$ 300,000,000			$ 300,000,000		$ 300,000,000			0
2027 Notes
Debt Instrument [Line Items]
Face amount of debt												$ 300,000,000
Weighted average interest rate	5.375%			5.375%		5.375%		5.375%				5.375%
Financial liabilities	$ 0			$ 0		$ 0			300,000,000
Loss on debt extinguishment						$ (16,100,000)
Series 2022 Bonds, due 2047
Debt Instrument [Line Items]
Face amount of debt		$ 145,100,000
Weighted average interest rate	4%			4%		4%		4%
Less debt issuance costs	$ 3,100,000			$ 3,100,000		$ 3,100,000
Yield		3.50%
Proceeds from issuance	58,000,000	$ 150,000,000
Financial liabilities	145,060,000			145,060,000		145,060,000			0
Poland Term Loan | CMCP
Debt Instrument [Line Items]
Stand by letters of credit outstanding amount	900,000			900,000		900,000			5,700,000
Financial liabilities	$ 37,900,000			$ 37,900,000		$ 37,900,000		zł 161,900,000	49,700,000	zł 190,500,000
Poland Term Loan | Revolving credit facility
Debt Instrument [Line Items]
Weighted average interest rate	7.89%			7.89%		7.89%		7.89%
Financial liabilities	$ 37,923,000			$ 37,923,000		$ 37,923,000			49,726,000
2023 Notes
Debt Instrument [Line Items]
Face amount of debt	$ 330,000,000			$ 330,000,000		$ 330,000,000
Weighted average interest rate	4.875%			4.875%		4.875%		4.875%
Financial liabilities	$ 330,000,000			$ 330,000,000		$ 330,000,000			$ 330,000,000

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021
Derivative [Line Items]
Unrealized holding gain	$ 25,927	$ 12,145	$ 81,378	$ 21,032
Gain from components excluded from assessment of cash flow hedge effectiveness			16,100
Foreign exchange
Derivative [Line Items]
Derivative notional amount	377,200		377,200		$ 389,500
Commodity
Derivative [Line Items]
Derivative notional amount	228,800		228,800		$ 213,400
Unrealized holding gain	25,920	12,167	81,285	20,971
Commodity | Cost of goods sold
Derivative [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ 2,042	$ (7,921)	$ 2,574	$ (24,535)

DERIVATIVES (Commodity Contract

DERIVATIVES (Commodity Contract Commitments) (Details) MWh in Thousands	9 Months Ended
	May 31, 2022 MMBTU MWh t
Aluminum | Long
Derivative [Line Items]
Commodity contract commitments	3,300
Aluminum | Short
Derivative [Line Items]
Commodity contract commitments	1,525
Copper | Long
Derivative [Line Items]
Commodity contract commitments	975
Copper | Short
Derivative [Line Items]
Commodity contract commitments	8,482
Electricity | Long
Derivative [Line Items]
Commodity contract commitment, energy | MWh	1,717
Natural Gas | Long
Derivative [Line Items]
Commodity contract commitment, energy | MMBTU	4,870,250

DERIVATIVES (Derivatives Not De

DERIVATIVES (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on commodity derivatives accounted for as cash flow hedging instruments	$ 25,927	$ 12,145	$ 81,378	$ 21,032
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on commodity derivatives accounted for as cash flow hedging instruments	25,920	12,167	81,285	20,971
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	2,042	(7,921)	2,574	(24,535)
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before income taxes for derivatives not designated as hedges	$ 6,157	$ 1,915	$ (2,886)	$ 75

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details)	9 Months Ended
	May 31, 2022 levels
Fair Value Disclosures [Abstract]
Number of fair value hierarchy	3

FAIR VALUE (Financial Assets an

FAIR VALUE (Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($)	May 31, 2022	Aug. 31, 2021	May 31, 2021
Significant Unobservable Inputs (Level 3) | Minimum | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	$ 343.25		$ 217.38
Significant Unobservable Inputs (Level 3) | Maximum | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	815.64		296.36
Significant Unobservable Inputs (Level 3) | Average | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	539.32		$ 251.10
Fair value, measurements, recurring | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	318,095,000	$ 441,297,000
Fair value, measurements, recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	109,225,000	27,323,000
Derivative liabilities	1,305,000	1,352,000
Fair value, measurements, recurring | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5,998,000	2,537,000
Derivative liabilities	3,568,000	1,880,000
Fair value, measurements, recurring | 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	318,095,000	441,297,000
Fair value, measurements, recurring | 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	15,905,000	910,000
Derivative liabilities	1,305,000	1,352,000
Fair value, measurements, recurring | 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	0	0
Derivative liabilities	0	0
Fair value, measurements, recurring | 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	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5,998,000	2,537,000
Derivative liabilities	3,568,000	1,880,000
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	0	0
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	93,320,000	26,413,000
Derivative liabilities	0	0
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Fair Value (Reconciliation of C

Fair Value (Reconciliation of Commodity Derivative Recognized in Other Comprehensive Income) (Details) - Commodity - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 78,879	$ (4,285)	$ 26,413	$ (15,007)
Unrealized holding gain before reclassification	19,201	15,459	81,039	26,434
Reclassification for gain included in net earnings	(4,760)	(693)	(14,132)	(946)
Ending balance	$ 93,320	$ 10,481	$ 93,320	$ 10,481

FAIR VALUE (Financial Assets _2

FAIR VALUE (Financial Assets and Liabilities Not Required to Be Measured at Fair Value) (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	$ 1,550,726	$ 1,077,922
2032 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	300,000	0
2032 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	264,993	0
2031 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	300,000	300,000
2031 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	261,390	306,279
2030 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	300,000	0
2030 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	271,815	0
2027 Notes
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	0	300,000
2027 Notes | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	0	316,839
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 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	333,736	348,071
Series 2022 Bonds, due 2047
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	145,060	0
Series 2022 Bonds, due 2047 | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	126,778	0
Short-term borrowings
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	62,627	26,560
Short-term borrowings | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities		26,560
Revolving credit facility | Poland Term Loan
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	37,923	49,726
Revolving credit facility | Poland Term Loan | Level 2 | Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Financial liabilities	$ 37,923	$ 49,726

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2022	May 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years				3 years
Share-based compensation expense	$ 0	$ 3,200		$ 0	$ 5,000
Stock-based compensation	$ 11,986		$ 13,800	$ 37,856	$ 35,558
Equity method awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted				1,467,000	1,512,000
Weighted average grant-date fair value				$ 28.16	$ 20.51
Liability method awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted				261,000	324,000
Equivalent shares outstanding	591,483			591,483
Equivalent shares expected to vest	561,908			561,908

STOCKHOLDERS EQUITY AND EARNI_2

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE (Calculations of the Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Earnings Per Share [Abstract]
Net earnings	$ 312,429	$ 130,408	$ 928,632	$ 260,552
Average basic shares outstanding (shares)	121,247,105	120,613,652	121,277,553	120,241,579
Effect of dilutive securities (shares)	1,552,764	1,580,003	1,649,738	1,610,565
Average diluted shares outstanding (shares)	122,799,869	122,193,655	122,927,291	121,852,144
Earnings per share:
Basic (in USD per share)	$ 2.58	$ 1.08	$ 7.66	$ 2.17
Diluted (in USD per share)	$ 2.54	$ 1.07	$ 7.55	$ 2.14

STOCKHOLDERS EQUITY AND EARNI_3

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE (Narrative) (Details) - USD ($)	3 Months Ended	9 Months Ended
	May 31, 2022	May 31, 2022	Oct. 31, 2021
Earnings Per Share [Abstract]
Stock repurchase program, authorized amount			$ 350,000,000
Treasury stock acquired, shares	1,006,387	1,501,387
Treasury stock acquired (in dollars per share)	$ 38.34	$ 37.02
Stock repurchase program, remaining authorized repurchase amount	$ 294,400,000	$ 294,400,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - CERCLA sites - USD ($) $ in Millions	May 31, 2022	Aug. 31, 2021
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 3.4	$ 7.1
Accrued environmental loss contingencies, noncurrent	$ 2.2	$ 2.3

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	9 Months Ended
	May 31, 2022 segments
Segment Reporting [Abstract]
Number of reporting segments	2

BUSINESS SEGMENTS (Summary of C

BUSINESS SEGMENTS (Summary of Certain Financial Information from Continuing Operations by Reportable Segment and Major Product) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 2,515,727	$ 1,845,041	$ 6,506,416	$ 4,699,114
Adjusted EBITDA	465,280	221,121	1,343,421	506,487
Total assets	6,103,702		6,103,702		$ 4,638,671
Segments | Continuing Operations
Segment Reporting Information [Line Items]
Net sales	2,515,727	1,845,041	6,506,416	4,699,114
Adjusted EBITDA	465,280	221,121	1,343,421		506,487
Total assets	6,103,702		6,103,702		4,638,671
Segments | North America
Segment Reporting Information [Line Items]
Net sales	2,033,150	1,558,068	5,300,996	4,010,567
Adjusted EBITDA	379,355	207,330	1,183,342		534,576
Total assets	4,297,473		4,297,473		3,221,465
Segments | Europe
Segment Reporting Information [Line Items]
Net sales	484,564	284,107	1,209,378	680,769
Adjusted EBITDA	120,974	50,005	281,955		80,582
Total assets	1,164,918		1,164,918		729,766
Segments | Unaffiliated Customers
Segment Reporting Information [Line Items]
Net sales	2,515,727	1,845,041	6,506,416	4,699,114
Segments | Unaffiliated Customers | North America
Segment Reporting Information [Line Items]
Net sales	2,033,142	1,558,068	5,300,988	4,010,567
Segments | Unaffiliated Customers | Europe
Segment Reporting Information [Line Items]
Net sales	484,005	283,713	1,207,916	679,457
Segments | Raw materials
Segment Reporting Information [Line Items]
Net sales	442,577	352,518	1,175,434	825,372
Segments | Raw materials | North America
Segment Reporting Information [Line Items]
Net sales	435,171	346,614	1,155,204	811,863
Segments | Raw materials | Europe
Segment Reporting Information [Line Items]
Net sales	7,406	5,904	20,230	13,509
Segments | Steel Products
Segment Reporting Information [Line Items]
Net sales	1,219,572	841,172	3,124,220	2,121,967
Segments | Steel Products | North America
Segment Reporting Information [Line Items]
Net sales	851,762	626,084	2,192,851	1,597,942
Segments | Steel Products | Europe
Segment Reporting Information [Line Items]
Net sales	367,810	215,088	931,369	524,025
Segments | Downstream products
Segment Reporting Information [Line Items]
Net sales	676,235	532,158	1,779,997	1,437,819
Segments | Downstream products | North America
Segment Reporting Information [Line Items]
Net sales	587,568	475,714	1,561,717	1,313,140
Segments | Downstream products | Europe
Segment Reporting Information [Line Items]
Net sales	88,667	56,444	218,280	124,679
Segments | Construction-related solutions
Segment Reporting Information [Line Items]
Net sales	130,766	77,549	296,903	205,548
Segments | Construction-related solutions | North America
Segment Reporting Information [Line Items]
Net sales	121,285	77,549	287,422	205,548
Segments | Construction-related solutions | Europe
Segment Reporting Information [Line Items]
Net sales	9,481	0	9,481	0
Segments | Other
Segment Reporting Information [Line Items]
Net sales	46,577	41,644	129,862	108,408
Segments | Other | North America
Segment Reporting Information [Line Items]
Net sales	37,356	32,107	103,794	82,074
Segments | Other | Europe
Segment Reporting Information [Line Items]
Net sales	10,641	6,277	28,556	17,244
Segments | Corporate
Segment Reporting Information [Line Items]
Net sales	(1,987)	2,866	(3,958)
Adjusted EBITDA	(35,049)	(36,214)
Segments | Corporate | Unaffiliated Customers
Segment Reporting Information [Line Items]
Net sales	(1,420)	3,260	(2,488)	9,090
Segments | Corporate | Raw materials
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Segments | Corporate | Steel Products
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Segments | Corporate | Downstream products
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Segments | Corporate | Construction-related solutions
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Segments | Corporate | Other
Segment Reporting Information [Line Items]
Net sales	(1,420)	3,260	(2,488)	9,090
Segments | Corporate and Other
Segment Reporting Information [Line Items]
Net sales				7,778
Adjusted EBITDA			(121,876)		(108,671)
Total assets	641,311		641,311		$ 687,440
Intersegment
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Intersegment | North America
Segment Reporting Information [Line Items]
Net sales	8	0	8	0
Intersegment | Europe
Segment Reporting Information [Line Items]
Net sales	559	394	1,462	1,312
Intersegment | Corporate
Segment Reporting Information [Line Items]
Net sales	$ (567)	$ (394)	$ (1,470)	$ (1,312)

BUSINESS SEGMENTS (Reconciliati

BUSINESS SEGMENTS (Reconciliations of Earnings from Continuing Operations to Adjusted Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Segment Reporting [Abstract]
Net earnings	$ 312,429	$ 130,408	$ 928,632	$ 260,552
Interest expense	13,433	11,965	36,479	40,245
Income taxes	92,590	38,175	247,894	80,709
Depreciation and amortization	43,583	41,804	125,943	125,176
Asset impairments	3,245	277
Amortization of acquired unfavorable contract backlog	0	(1,508)	0	(4,540)
Adjusted EBITDA	$ 465,280	$ 221,121	$ 1,343,421	$ 506,487