Commercial Metals (CMC) 10-K 12 Oct 23 2023 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Aug. 31, 2023	Oct. 11, 2023	Feb. 28, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2023
Document Transition Report	false
Entity File Number	1-4304
Entity Registrant Name	Commercial Metals Company
Entity Incorporation, State or Country Code	DE
I.R.S. Employer Identification No.	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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 6
Entity Common Stock, Shares Outstanding		116,905,168
Documents Incorporated by Reference	Portions of the definitive proxy statement for the 2024 annual meeting of stockholders are incorporated by reference into Part III
Entity Central Index Key	0000022444
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--08-31

Audit Information

Audit Information	12 Months Ended
	Aug. 31, 2023
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Statement [Abstract]
Net sales	$ 8,799,533	$ 8,913,481	$ 6,729,760
Costs and operating expenses (income):
Cost of goods and services sold	6,987,618	7,057,085	5,623,903
Selling, general and administrative expenses	643,535	544,984	505,117
Interest expense	40,127	50,709	51,904
Loss on debt extinguishment	179	16,052	16,841
Asset impairments	3,780	4,926	6,784
Loss (gain) on sale of assets	2,327	(275,422)	(8,807)
Total costs and expenses	7,677,566	7,398,334	6,195,742
Earnings before income taxes	1,121,967	1,515,147	534,018
Income taxes	262,207	297,885	121,153
Net earnings	$ 859,760	$ 1,217,262	$ 412,865
Earnings per share:
Basic (in shares)	$ 7.34	$ 10.09	$ 3.43
Diluted (in shares)	$ 7.25	$ 9.95	$ 3.38
Average basic shares outstanding (in shares)	117,077,703	120,648,090	120,338,357
Average diluted shares outstanding (in shares)	118,606,271	122,372,386	121,983,497

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Other comprehensive income (loss), net of income taxes:
Net earnings	$ 859,760	$ 1,217,262	$ 412,865
Foreign currency translation:
Foreign currency translation	119,852	(140,217)	(17,747)
Derivatives:
Net unrealized holding gain	6,395	138,634	35,492
Reclassification for realized gain	(9,380)	(22,173)	(2,377)
Net unrealized holding gain (reclassification for realized gain) on derivatives	(2,985)	116,461	33,115
Defined benefit pension plans:
Net gain (loss)	(7,985)	(5,898)	3,523
Reclassification for settlement losses and other	1,791	23	53
Defined benefit pension plans gain (loss) after amortization of prior service costs and net actuarial losses	(6,194)	(5,875)	3,576
Total other comprehensive income (loss), net of income taxes	110,673	(29,631)	18,944
Comprehensive income	$ 970,433	$ 1,187,631	$ 431,809

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Current assets:
Cash and cash equivalents	$ 592,332	$ 672,596
Accounts receivable (less allowance for doubtful accounts of $4,135 and $4,990)	1,240,217	1,358,907
Inventories	1,035,582	1,169,696
Prepaid and other current assets	276,024	240,269
Total current assets	3,144,155	3,441,468
Property, plant and equipment:
Land	160,067	155,237
Buildings and improvements	1,071,102	799,715
Equipment	3,089,007	2,440,910
Construction in process	213,651	489,031
Property, plant and equipment, Gross	4,533,827	3,884,893
Less accumulated depreciation and amortization	(2,124,467)	(1,974,022)
Property, plant and equipment, Net	2,409,360	1,910,871
Intangible assets, net	259,161	257,409
Goodwill	385,821	249,009
Other noncurrent assets	440,597	378,270
Total assets	6,639,094	6,237,027
Current liabilities:
Accounts payable	364,390	428,055
Accrued expenses and other payables	438,811	540,136
Current maturities of long-term debt and short-term borrowings	40,513	388,796
Total current liabilities	843,714	1,356,987
Deferred income taxes	306,801	250,302
Other noncurrent liabilities	253,181	230,060
Long-term debt	1,114,284	1,113,249
Total liabilities	2,517,980	2,950,598
Commitments and contingencies (Note 17)
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 116,515,427 and 117,496,053 shares	1,290	1,290
Additional paid-in capital	394,672	382,767
Accumulated other comprehensive loss	(3,778)	(114,451)
Retained earnings	4,097,262	3,312,438
Less treasury stock, 12,545,237 and 11,564,611 shares at cost	(368,573)	(295,847)
Stockholders' equity	4,120,873	3,286,197
Stockholders' equity attributable to non-controlling interests	241	232
Total stockholders' equity	4,121,114	3,286,429
Total liabilities and stockholders' equity	$ 6,639,094	$ 6,237,027

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ (4,135)	$ (4,990)
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	129,060,664	129,060,664
Common stock, shares outstanding	116,515,427	117,496,053
Treasury stock, shares	12,545,237	11,564,611

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Cash flows from (used by) operating activities:
Net earnings	$ 859,760	$ 1,217,262	$ 412,865
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	218,830	175,024	167,613
Stock-based compensation	60,529	46,978	43,677
Deferred income taxes and other long-term taxes	51,919	86,175	(39,873)
Write-down of inventory	11,286	464	384
Asset impairments	3,780	4,926	6,784
Net loss (gain) on sales of assets	2,327	(275,422)	(8,807)
Loss on debt extinguishment	179	16,052	16,841
Other	4,471	2,089	157
Amortization of acquired unfavorable contract backlog	0	0	(6,035)
Settlement of New Markets Tax Credit transaction	(17,659)	0	0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	175,102	(257,607)	(228,026)
Inventories	177,024	(255,175)	(316,316)
Accounts payable, accrued expenses and other payables	(174,120)	3,899	194,801
Other operating assets and liabilities	(29,325)	(64,356)	(15,591)
Net cash flows from operating activities	1,344,103	700,309	228,474
Cash flows from (used by) investing activities:
Capital expenditures	(606,665)	(449,988)	(184,165)
Acquisitions, net of cash acquired	(234,717)	(552,449)	(1,888)
Proceeds from insurance	2,456	3,081	0
Proceeds from government grants related to property, plant and equipment	5,000	0	0
Proceeds from the sale of property, plant and equipment and other	1,006	315,148	26,424
Other	(2,307)	(507)	(2,500)
Net cash flows used by investing activities	(835,227)	(684,715)	(162,129)
Cash flows from (used by) financing activities:
Proceeds from issuance of long-term debt, net	0	743,391	309,279
Repayments of long-term debt	(389,756)	(328,594)	(368,527)
Debt issuance costs	(1,800)	(3,064)	(2,830)
Debt extinguishment costs	(97)	(13,642)	(13,128)
Proceeds from accounts receivable facilities	330,061	440,236	296,586
Repayments under accounts receivable facilities	(349,015)	(433,936)	(269,858)
Treasury stock acquired	(101,406)	(161,880)	0
Tax withholdings related to share settlements, net of purchase plans	(12,539)	(9,457)	(3,166)
Dividends	(74,936)	(67,749)	(57,766)
Proceeds from Noncontrolling Interests	9	0	20
Net cash flows from (used by) financing activities	(599,479)	165,305	(109,390)
Effect of exchange rate changes on cash	7,077	(2,785)	(790)
Increase (decrease) in cash and cash equivalents	(83,526)	178,114	(43,835)
Cash, restricted cash and cash equivalents at beginning of period	679,243	501,129	544,964
Cash, restricted cash and cash equivalents at end of period	595,717	679,243	501,129
Supplemental information:
Cash paid for income taxes	199,883	229,316	140,950
Cash paid for interest	64,431	47,329	58,325
Noncash activities:
Liabilities related to additions of property, plant and equipment	31,379	55,648	39,899
Cash and cash equivalents	592,332	672,596	497,745
Restricted cash	$ 3,385	$ 6,647	$ 3,384

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock	Noncontrolling Interests
Beginning balance at Aug. 31, 2020	$ 1,889,413	$ 1,290	$ 358,912	$ (103,764)	$ 1,807,826	$ (175,063)	$ 212
Beginning balance, shares at Aug. 31, 2020		129,060,664
Beginning balance, treasury stock, shares at Aug. 31, 2020						(9,839,759)
Net earnings	412,865				412,865
Other comprehensive income (loss)	18,944			18,944
Cash dividends	$ (57,766)				(57,766)
Treasury stock acquired (in shares)	0
Issuance of stock under incentive and purchase plans, net of forfeitures	$ (3,166)		(25,647)			$ 22,481
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,365,684
Stock-based compensation	29,380		29,380
Noncontrolling Interest, Increase From Contribution	20						20
Reclassification of share-based liability awards	5,419		5,419
Ending balance at Aug. 31, 2021	2,295,109	$ 1,290	368,064	(84,820)	2,162,925	$ (152,582)	232
Ending balance, shares at Aug. 31, 2021		129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2021						(8,474,075)
Net earnings	1,217,262				1,217,262
Other comprehensive income (loss)	(29,631)			(29,631)
Cash dividends	$ (67,749)				(67,749)
Treasury stock acquired (in shares)	(4,496,628)					(4,496,628)
Treasury stock acquired	$ (161,880)					$ (161,880)
Issuance of stock under incentive and purchase plans, net of forfeitures	(9,457)		(28,072)			$ 18,615
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,406,092
Stock-based compensation	33,684		33,684
Reclassification of share-based liability awards	9,091		9,091
Ending balance at Aug. 31, 2022	$ 3,286,429	$ 1,290	382,767	(114,451)	3,312,438	$ (295,847)	232
Ending balance, shares at Aug. 31, 2022	129,060,664	129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2022	(11,564,611)					(11,564,611)
Net earnings	$ 859,760				859,760
Other comprehensive income (loss)	110,673			110,673
Cash dividends	$ (74,936)				(74,936)
Treasury stock acquired (in shares)	(2,309,452)					(2,309,452)
Treasury stock acquired	$ (101,406)					$ (101,406)
Issuance of stock under incentive and purchase plans, net of forfeitures	(12,539)		(41,219)			$ 28,680
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						1,328,826
Stock-based compensation	43,434		43,434
Noncontrolling Interest, Increase From Contribution	9						9
Reclassification of share-based liability awards	9,690		9,690
Ending balance at Aug. 31, 2023	$ 4,121,114	$ 1,290	$ 394,672	$ (3,778)	$ 4,097,262	$ (368,573)	$ 241
Ending balance, shares at Aug. 31, 2023	129,060,664	129,060,664
Ending balance, treasury stock, shares at Aug. 31, 2023	(12,545,237)					(12,545,237)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.64	$ 0.56	$ 0.48

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations CMC is an innovative solutions provider helping build a stronger, safer and more sustainable world. Through an extensive manufacturing network principally located in the United States ("U.S.") and Central Europe, we offer products and technologies to meet the critical reinforcement needs of the global construction sector. CMC’s solutions support construction across a wide variety of applications, including infrastructure, non-residential, residential, industrial and energy generation and transmission. The Company has two reportable segments: North America and Europe. North America The North America segment provides a diverse offering of products and solutions to support the construction industry. The North America segment is primarily composed of a vertically integrated network of recycling facilities, steel mills and fabrication operations located in the U.S., as well as facilities that provide construction-related solutions to serve markets that are complementary to our vertically integrated operations. The recycling facilities process ferrous and nonferrous scrap metals (collectively known as "raw materials") for use by manufacturers of new metal products. The steel mills manufacture finished long steel products including reinforcing bar ("rebar"), merchant bar, light structural and other special sections as well as semi-finished billets for rerolling and forging applications (collectively known as "steel products"). The fabrication operations primarily manufacture fabricated rebar and steel fence posts (collectively known as "downstream products"). The general strategy in North America is to optimize the Company's vertically integrated value chain to maximize profitability by obtaining the lowest possible input costs and highest possible selling prices. The Company operates the recycling facilities to provide low-cost scrap to the steel mills and the fabrication operations to optimize the steel mill volumes. The North America segment's products are sold primarily to steel mills and foundries, construction, fabrication and other manufacturing industries. Europe The Europe segment is primarily composed of a vertically integrated network of recycling facilities, an electric arc furnace ("EAF") mini mill and fabrication operations located in Poland. The steel products manufactured by this segment include rebar, merchant bar and wire rod as well as semi-finished billets. In addition, the downstream products manufactured by this segment's fabrication operations include fabricated rebar, fabricated mesh, assembled rebar cages and other fabricated rebar by-products. In addition, the Europe segment also has facilities that provide construction-related solutions, such as Tensar products, to serve complementary markets to our vertically integrated operations. The Europe segment's products are sold primarily to fabricators, manufacturers, distributors and construction companies. Summary of Significant Accounting Policies Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned and majority owned subsidiaries and certain variable interest entities ("VIEs") for which the Company is the primary beneficiary. Intercompany account balances and transactions have been eliminated. Use of Estimates The preparation of the Company's consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of net sales and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue recognition, income taxes, carrying value of inventory, acquisitions, goodwill, long-lived assets, derivative instruments and contingencies. Actual results could differ significantly from these estimates and assumptions. Cash and Cash Equivalents Cash and cash equivalents include cash on deposit and short-term, highly-liquid investments with original maturities of three months or less at the date of purchase. Revenue Recognition and Allowance for Doubtful Accounts Revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration received or expected to be received in exchange for those goods or services. The Company's performance obligations arise from (i) sales of raw materials, steel products, downstream products and construction-related solutions and (ii) installation services performed by its fabrication operations. The shipment of products to customers is considered a fulfillment activity and amounts billed to customers for shipping and freight are included in net sales, and the related costs are included in cost of goods sold. Net sales are presented net of taxes. R evenue related to raw materials, steel products and construction-related solutions in the North America and Europe segments and downstream products in the Europe segment is recognized at a point in time concurrent with the transfer of control, which usually occurs, depending on shipping terms, upon shipment or customer receipt. Revenue related to steel fence posts and other downstream products in the North America segment not discussed below is recognized equal to billing under an available practical expedient. Each fabricated rebar contract sold by the North America segment represents a single performance obligation and revenue is recognized over time. For contracts where the Company provides fabricated rebar and installation services, revenue is recognized over time using an input measure of progress based on contract costs incurred to date compared to total estimated contract costs ("input measure"). This input measure provides a reasonable depiction of the Company’s progress towards satisfaction of the performance obligation as there is a direct relationship between costs incurred by the Company and the transfer of the fabricated rebar and installation services. Revenue from fabricated rebar contracts where the Company does not provide installation services is recognized over time using an output measure of progress based on tons shipped compared to total estimated tons ("output measure"). This output measure provides a reasonable depiction of the transfer of contract value to the customer, as there is a direct relationship between the units shipped by the Company and the transfer of the fabricated rebar. If total estimated costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known. The cumulative effect of revisions to estimates related to net contract revenues, costs to complete or total planned quantity is recorded in the period in which such revisions are identified. The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an asset when revenue is recognized prior to invoicing and a liability when revenue is recognized subsequent to invoicing. Payment terms and conditions vary by contract type, although the Company generally requires customers to pay 30 days after the Company satisfies the performance obligations. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined the contracts do not include a significant financing component. The Company maintains an allowance for doubtful accounts for the accounts receivable we estimate will not be collected based on market conditions, customers' financial condition and other factors. Historically, these allowances have not been material. The Company reviews and sets credit limits for each customer. The Europe segment uses credit insurance to ensure payment in accordance with the terms of sale. Generally, collateral is not required. Approximately 14% and 16% of total receivables at August 31, 2023 and 2022, respectively, were financially assured. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the weighted average cost method. Adjustments to inventory may be due to changes in price levels, assumptions about market conditions, obsolescence, damage, physical deterioration and other causes. Adjustments required to reduce the carrying value of inventory to net realizable value are recorded as a charge to cost of goods sold within the consolidated statements of earnings. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, utilities, consumable production inputs, maintenance, production, wages and transportation costs. Additionally, the costs of departments that support production, including materials management and quality control, are allocated to inventory. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance is expensed as incurred. Leasehold improvements are amortized over the shorter of their estimated useful lives or the lease term. Depreciation and amortization are recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years The Company evaluates impairment of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For each asset or group of assets held for use with indicators of impairment, the Company compares the sum of the estimated future cash flows generated by the asset or group of assets with its associated net carrying value. If the net carrying value of the asset or group of assets exceeds estimated undiscounted future cash flows, the excess of the net carrying value over estimated fair value is charged to impairment loss. Properties held for sale are reported at the lower of their carrying amount or their estimated sales price, less estimated costs to sell. During 2023, historical and current period operating losses were determined to be triggering events for three long-lived asset groups associated with downstream fabricated rebar operations. The Company reviewed the undiscounted future cash flows for the long-lived asset groups for recoverability, which indicated that the net carrying values of certain right-of-use ("ROU") assets included in one long-lived asset group were not recoverable. Therefore, such ROU assets were evaluated for impairment by comparing the estimated fair values of the ROU assets to their net carrying values, which resulted in a non-cash impairment of $3.5 million during the fourth quarter of 2023, included in asset impairments in the consolidated statement of earnings. Leases The Company's leases are primarily for real property and equipment. The Company determines if an arrangement is a lease at inception of a contract if the terms state the Company has the right to direct the use of, and obtain substantially all the economic benefits from, a specific asset identified in the contract. The ROU assets represent the Company's right to use the underlying assets for the lease term, and the lease liabilities represent the obligation to make lease payments arising from the leases. The Company's ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments to be made over the lease term. Certain of the Company's lease agreements contain options to extend the lease. The Company evaluates these options on a lease-by-lease basis, and if the Company determines it is reasonably certain to be exercised, the lease term includes the extension. The Company uses its incremental borrowing rate at lease commencement to determine the present value of lease payments, and lease expense is recognized on a straight-line basis over the lease term. The incremental borrowing rate is the rate of interest the Company could borrow on a collateralized basis over a similar term with similar payments. The Company does not include leases with an initial term of twelve months or less in the ROU asset or lease liability balances. Certain of the Company's lease agreements include payments for certain variable costs not determinable upon lease commencement, including mileage, utilities, fuel and inflation adjustments. These variable lease payments are recognized in cost of goods sold and selling, general and administrative ("SG&A") expenses, but are not included in the ROU asset or lease liability balances. The Company's lease agreements do not contain any material residual value guarantees, restrictions or covenants. Government Assistance Government assistance, including non-monetary grants, herein collectively referred to as grants, are not recognized until there is reasonable assurance that the Company will comply with the conditions of the grant and the Company will receive the grant. Generally, government grants fall into two categories: grants related to assets and grants related to income. Grants related to assets are government grants for the purchase, construction or other acquisition of long-lived assets. The Company accounts for grants related to assets by deducting the grant in arriving at the carrying amount of the asset on the consolidated balance sheets. Non-monetary grants are recognized at fair value. The Company recognizes the grant in profit or loss over the life of the depreciable asset as a reduction to depreciation expense. Grants related to non-depreciable assets may require the fulfillment of certain obligations and, in such cases, would be recognized in profit or loss over the periods that bear the cost of meeting the obligations. As an example, a grant of land that is conditional upon constructing a building on the site is recognized as a reduction to depreciation expense over the life of the building. Grants related to income are any grants that are not considered grants related to assets, such as grants to compensate for certain expenses. Grants related to income are recognized in profit or loss on a systematic basis upon meeting the recognition criteria specified in the grants and during the periods when the expenses the grants intend to compensate for are incurred. During 2023 and 2022, the Company was awarded $9.5 million and $15.5 million, respectively, in government grants related to income as part of the compensation scheme for energy-intensive sectors and sub-sectors established by the Energy Regulatory Office in Poland (the "Poland Compensation Scheme Act" or "PCSA"). The purpose of the PCSA in each year was to provide aid to energy-intensive companies to offset indirect costs of rising carbon emission rights included in energy costs. The amount of government assistance awarded by the PCSA in each year was dependent upon the Company meeting certain electricity consumption thresholds and the number of other applicants. The government assistance recognized in 2023 and 2022 under the PCSA is not subject to recapture. The PCSA grants are recognized in the Europe segment and were recorded as a reduction to cost of goods sold in the Company's consolidated statements of earnings. During 2023, the Company was awarded $4.3 million in government grants related to income as part of the 2022 Polish state aid program for rising electricity and natural gas prices (the "2022 Energy Aid Program"). The 2022 Energy Aid Program was established by the Polish Ministry of Development and Technology to mitigate the effects of sudden increases in electricity and natural gas prices in Poland for companies who met required energy intensity and sectorial conditions and experienced certain financial metrics in calendar year 2022 compared to the prior year. The full amount of the Company's 2022 Energy Aid Program grant was received in 2023 and is not subject to recapture. The 2022 Energy Aid Program grant was recognized in the Europe segment and recorded as a reduction to cost of goods sold in the Company's consolidated statement of earnings. During 2023, the Company entered into an agreement with the West Virginia Economic Development Authority (the "WVEDA") to permanently finance a portion of the costs to construct the Company's fourth micro mill, which is under development in Berkeley County, West Virginia. Under this agreement, the Company can receive up to $75.0 million in the aggregate of disbursements in the form of a forgivable loan for eligible costs incurred from June 21, 2023 through June 20, 2027 (the "Completion Date"). Eligible costs include the acquisition of land and buildings, the acquisition and installation of machinery and equipment and necessary construction costs. The Company anticipates receiving disbursements over this period upon achieving certain capital investment and employment thresholds. Amounts received under the agreement are subject to recapture in the event that the Company fails to achieve certain minimum investment and employment thresholds prior to the Completion Date. The Company has determined that amounts received under the agreement are grants related to assets. During 2023, the Company received $5.0 million in cumulative benefits from the WVEDA as a result of meeting certain investment thresholds; amounts received were recognized in the North America segment and reduced construction in process in the Company's consolidated balance sheet as of August 31, 2023. Goodwill and Other Intangible Assets Goodwill and other indefinite-lived intangible assets are tested for impairment annually as of the first day of the Company's fourth quarter, or more frequently if events or circumstances indicate that impairment may be possible. To evaluate goodwill and other indefinite-lived intangible assets for impairment, the Company may use qualitative assessments to determine whether it is more likely than not that the fair value of a reporting unit, including goodwill, or an indefinite-lived intangible asset is less than its carrying amount. The qualitative assessments consider multiple factors, including the current operating environment, historical and future financial performance and industry and market conditions. If an initial qualitative assessment identifies that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is performed. The Company may elect to bypass the qualitative assessment and instead perform a quantitative impairment test to calculate the fair value of the reporting unit in comparison to its associated carrying value. The Company's reporting units represent an operating segment or one level below an operating segment. When performing a quantitative impairment test, the Company estimates the fair value of its reporting units using a weighting of fair values derived from the income and market approaches. Under the income approach, the Company determines the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into account industry and market conditions. The discount rate is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the reporting unit. The market approach estimates fair value based on market multiples of earnings derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is indicated in the amount that the carrying value exceeds the fair value of the reporting unit, not to exceed the goodwill value for the reporting unit. When estimating the fair value of indefinite-lived intangible assets using a quantitative approach, the Company uses an income approach to calculate the fair value of the indefinite-lived intangible assets using a relief from royalty method. Significant inputs to measure the fair value of the indefinite-lived intangible assets include projected revenue growth rates, royalty rates and discount rates. Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives and are tested for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment charges are recorded on finite-lived intangible assets when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts. Contingencies The Company accrues for claims and litigation, including environmental investigation and remediation costs, when they are both probable and the amount can be reasonably estimated. Environmental costs are based upon estimates regarding the sites for which the Company will be responsible, the scope and cost of work to be performed at each site, the portion of costs that will be shared with other parties and the timing of remediation. Where timing and amounts cannot be reasonably determined, a range is estimated and the lower end of the range is recorded. Stock-Based Compensation The Company recognizes stock-based equity and liability awards at fair value. The fair value of each stock-based equity award is estimated at the grant date using either the Black-Scholes or Monte Carlo pricing model. Total compensation cost of the stock-based equity award is amortized over the requisite service period using the accelerated method of amortization for grants with graded vesting or the straight-line method for grants with cliff vesting. Stock-based liability awards are measured at fair value at the end of each reporting period and will fluctuate based on the price of CMC common stock and performance relative to the targets. Income Taxes CMC and its U.S. subsidiaries file a consolidated federal income tax return. Deferred income taxes are provided for temporary differences between financial statement and income tax bases of assets and liabilities. The principal differences are described in Note 12, Income Tax. Benefits from income tax credits are reflected currently in earnings. The Company records income tax positions based on a more likely than not threshold that the tax positions will be sustained on examination by the taxing authorities having full knowledge of all relevant information. The Company classifies interest and any statutory penalties recognized on a tax position as income tax expense. Foreign Currencies The functional currency of the Company's foreign operations is the local currency of each respective country. Translation adjustments are reported as a component of accumulated other comprehensive income or loss. Transactions denominated in currencies other than the functional currency yielded a loss of $12.1 million in 2023, a gain of $9.6 million in 2022 and an immaterial gain in 2021. Derivative Financial Instruments The Company recognizes derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Derivatives that are not designated as hedges are adjusted to fair value through net earnings. Changes in the fair value of derivatives that are designated as hedges are recognized depending on the nature of the hedge. In the case of fair value hedges, changes are recognized as an offset against the change in fair value of the hedged balance sheet item. When the derivative is designated as a cash flow hedge and is highly effective, changes are recognized in other comprehensive income. When a derivative instrument is sold, terminated, exercised or expires, the gain or loss is recorded in the consolidated statement of earnings for fair value hedges, and the cumulative unrealized gain or loss, which had been recognized in the statement of comprehensive income, is reclassified to the consolidated statement of earnings for cash flow hedges. Additionally, when hedged items are sold or extinguished, or the anticipated transaction being hedged is no longer expected to occur, the Company recognizes the gain or loss on the designated hedged financial instrument. Fair Value The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Level 1 represents unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 represents quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable, either directly or indirectly. Level 3 represents valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Recently Issued and Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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.

CHANGES IN BUSINESS

CHANGES IN BUSINESS	12 Months Ended
	Aug. 31, 2023
Business Combinations [Abstract]
CHANGES IN BUSINESS	NOTE 2. CHANGES IN BUSINESS 2023 Acquisitions On September 15, 2022, the Company completed the acquisition of Advanced Steel Recovery, LLC ("ASR"), a supplier of recycled ferrous metals located in Southern California. ASR's primary operations include processing and brokering capabilities that source material for sale into both the domestic and export markets. On November 14, 2022, the Company completed the acquisition of a Galveston, Texas area metals recycling facility and related assets (collectively, "Kodiak") from Kodiak Resources, Inc. and Kodiak Properties, L.L.C. On March 3, 2023, the Company completed the acquisition of all of the assets of Roane Metals Group, LLC ("Roane"), a supplier of recycled metals with two facilities located in eastern Tennessee. The majority of volumes processed by Roane relate to obsolete ferrous scrap metals to be consumed by the Company's steel mill operations. On March 17, 2023, the Company completed the acquisition of Tendon Systems, LLC ("Tendon"), a leading provider of post-tensioning, barrier cable and concrete restoration solutions to the southeastern U.S. On May 1, 2023, the Company completed the acquisition of all of the assets of BOSTD America, LLC ("BOSTD"), a geogrid manufacturing facility located in Blackwell, Oklahoma. Prior to the acquisition, BOSTD produced several product lines for the Company's Tensar operations under a contract manufacturing arrangement. On July 12, 2023, the Company completed the acquisition of EDSCO Fasteners, LLC ("EDSCO"), a leading provider of anchoring solutions for the electrical transmission market, with four manufacturing facilities located in North Carolina, Tennessee, Texas and Utah. The acquisitions of ASR, Kodiak, Roane, Tendon, BOSTD and EDSCO (collectively, the "2023 Acquisitions") are not material individually, or in the aggregate, to the Company's financial position as of August 31, 2023 or results of operations for the year ended August 31, 2023, and therefore, pro forma operating results and other disclosures for the 2023 Acquisitions are not presented. Operating results for the 2023 Acquisitions are presented within the Company's North America reportable segment. Tensar Acquisition On April 25, 2022 (the "Tensar 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, and was funded through domestic cash on-hand. The results of operations from Tensar were reflected in the Company’s consolidated financial statements from the Tensar Acquisition Date. Tensar's net sales and earnings before income taxes included in the Company's consolidated statement of earnings and consolidated statement of comprehensive income in 2022 were $102.1 million and $3.2 million, respectively. The table below presents the fair values that were allocated to Tensar's assets and liabilities as of the Tensar Acquisition Date: (in thousands) Fair Value Cash and cash equivalents $ 19,551 Accounts receivable 37,741 Inventories 39,462 Prepaid and other current assets 12,528 Defined benefit pension plan 14,620 Property, plant and equipment 85,983 Intangible assets 260,500 Goodwill 186,805 Other noncurrent assets 19,660 Accounts payable (12,134) Accrued expenses and other payables (23,725) Current maturities of long-term debt (3,277) Deferred income taxes (45,055) Other noncurrent liabilities (16,347) Long-term debt (4,312) Total assets acquired and liabilities assumed $ 572,000 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. Year Ended August 31, (in thousands) 2022 2021 Pro forma net sales $ 9,064,322 $ 6,957,903 Pro forma net earnings 1,238,174 416,904 The pro forma results presented above include, but are not limited to, adjustments to remove the impact of $8.7 million of acquisition and integration expenses from 2022 and reapportion $1.0 million of those costs incurred following the Tensar Acquisition Date to 2021, as well as reallocate $8.7 million of increased cost of goods sold in 2022 to 2021 as a result of the revaluation of inventory. The pro forma results also reflect increased amortization expense from acquired intangible assets of $8.1 million in 2022 and $12.4 million in 2021. Facility Disposition On September 29, 2021, the Company entered into a definitive agreement to sell the assets associated with its Rancho Cucamonga melting operations and an adjacent rebar fabrication facility ("the Rancho Cucamonga facilities"). On December 28, 2021, the sale of the Rancho Cucamonga facilities was completed for gross proceeds of $313.0 million, of which $22.0 million was used to purchase like-kind assets in 2022 per the terms of the sale agreement. Due to these closures, the Company recorded $13.8 million of expenses in 2021 related to asset impairments, severance, environmental obligations and vendor agreement terminations

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Aug. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) ("AOCI") was comprised of the following: (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2020 $ (87,933) $ (11,334) $ (4,497) $ (103,764) Other comprehensive income (loss) before reclassifications (1) (17,747) 35,492 3,576 21,321 Reclassification for gain (2) — (2,377) — (2,377) Net other comprehensive income (loss) (17,747) 33,115 3,576 18,944 Balance at August 31, 2021 (105,680) 21,781 (921) (84,820) Other comprehensive income (loss) before reclassifications (1) (140,217) 138,634 (5,875) (7,458) Reclassification for gain (2) — (22,173) — (22,173) Net other comprehensive income (loss) (140,217) 116,461 (5,875) (29,631) Balance at August 31, 2022 (245,897) 138,242 (6,796) (114,451) Other comprehensive income (loss) before reclassifications (1) 119,852 6,395 (7,985) 118,262 Reclassification for (gain) loss (2) — (9,380) 1,791 (7,589) Net other comprehensive income (loss) 119,852 (2,985) (6,194) 110,673 Balance at August 31, 2023 $ (126,045) $ 135,257 $ (12,990) $ (3,778) __________________________________ (1) Other comprehensive income before reclassifications from derivatives is presented net of income tax expense of $1.1 million, $33.0 million and $6.7 million for 2023, 2022 and 2021, respectively. Other comprehensive income (loss) before reclassifications from defined benefit pension plans is presented net of income tax expense (benefit) of $(3.9 million), $(2.6 million) and $0.9 million for 2023, 2022 and 2021, respectively. (2) Reclassifications for gains from derivatives included in net earnings are primarily recorded in cost of goods sold in the consolidated statements of earnings and are presented net of income tax expense of $2.2 million, $5.3 million and $0.4 million, for 2023, 2022 and 2021, respectively. Reclassifications for losses from defined benefit pension plans included in net earnings are recorded in SG&A expenses in the consolidated statement of earnings and are presented net of immaterial income tax benefits for all periods presented.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 4. REVENUE RECOGNITION Revenue from Contracts with Customers Revenue related to raw materials, steel products and construction-related solutions in the North America and Europe segments and downstream products in the Europe segment is recognized at a point in time concurrent with the transfer of control, which usually occurs, depending on shipping terms, upon shipment or customer receipt. Revenue related to steel fence posts and other downstream products in the North America segment not discussed below is recognized equal to billing under an available practical expedient. See Note 19, Operating Segments, for further information about disaggregated revenue by our major product lines. Each fabricated rebar contract sold by the North America segment represents a single performance obligation. Revenue from contracts where the Company provides fabricated rebar and installation services is recognized over time using an input measure, and these contracts represented 7%, 8% and 10% of net sales in the North America segment in 2023, 2022 and 2021, respectively. Revenue from fabricated rebar contracts where the Company does not provide installation services is recognized over time using an output measure, and these contracts represented 11% of net sales in the North America segment in 2023, and 9% in 2022 and 2021. The following table provides information about assets and liabilities from contracts with customers: (in thousands) August 31, 2023 August 31, 2022 Contract assets (included in accounts receivable) $ 67,641 $ 73,037 Contract liabilities (included in accrued expenses and other payables) 28,377 27,567 The entire contract liability as of August 31, 2022 was recognized in 2023. Remaining Performance Obligations As of August 31, 2023, revenue totaling $920.9 million has been allocated to remaining performance obligations in the North America segment related to contracts where revenue is recognized using an input or output measure. Of this amount, the Company estimates that approximately 80% of the remaining performance obligations will be recognized during 2024 and the remainder will be recognized during 2025. The duration of all other contracts in the North America and Europe segments are typically less than one year.

INVENTORIES

INVENTORIES	12 Months Ended
	Aug. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 5. INVENTORIES 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) August 31, 2023 August 31, 2022 Raw materials $261,619 $ 271,756 Work in process 6,844 9,446 Finished goods 767,119 888,494 Total $ 1,035,582 $ 1,169,696 Inventory write-downs were $11.3 million for 2023, and were primarily recorded in the Europe segment. Inventory write-downs were immaterial for 2022 and 2021.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill by reportable segment is detailed in the following table: (in thousands) North America Europe Consolidated Goodwill, gross: Balance, September 1, 2021 $ 71,941 $ 4,390 $ 76,331 Acquisitions 144,118 42,687 186,805 Foreign currency translation — (3,962) (3,962) Balance at August 31, 2022 216,059 43,115 259,174 Acquisitions 135,382 — 135,382 Foreign currency translation — 1,446 1,446 Balance at August 31, 2023 351,441 44,561 396,002 Accumulated impairment: Balance, September 1, 2021 (10,036) (158) (10,194) Foreign currency translation — 29 29 Balance at August 31, 2022 (10,036) (129) (10,165) Foreign currency translation — (16) (16) Balance at August 31, 2023 (10,036) (145) (10,181) Goodwill, net: Balance, September 1, 2021 61,905 4,232 66,137 Acquisitions 144,118 42,687 186,805 Foreign currency translation — (3,933) (3,933) Balance at August 31, 2022 206,023 42,986 249,009 Acquisitions 135,382 — 135,382 Foreign currency translation — 1,430 1,430 Balance at August 31, 2023 $ 341,405 $ 44,416 $ 385,821 The change in goodwill within the North America segment from August 31, 2022 to August 31, 2023 was due to the 2023 Acquisitions. See Note 2, Changes in Business, for information on the 2023 Acquisitions. During 2023, 2022 and 2021, the annual goodwill impairment analyses, which are performed as of the first day of the Company's fourth quarter (the "annual impairment test date"), did not result in any impairment charges. For the year ended August 31, 2023, the Company performed qualitative tests for three reporting units consisting of $49.8 million of goodwill as of the 2023 annual impairment test date and quantitative tests for three reporting units consisting of $292.3 million of goodwill as of the 2023 annual impairment test date. The difference in the balance of goodwill between the 2023 annual impairment test date and August 31, 2023 was due to the acquisition of EDSCO and foreign currency translation adjustments. The results of the qualitative and quantitative tests indicated it was more likely than not that the fair value of all reporting units with goodwill exceeded their carrying values. Other indefinite-lived intangible assets consisted of the following: (in thousands) August 31, 2023 August 31, 2022 Trade names $ 54,056 $ 53,633 In-process research and development 2,400 2,400 Non-compete agreements 750 750 Total $ 57,206 $ 56,783 During 2023 and 2022, the Company did not record any indefinite-lived intangible asset impairment charges. As of the 2023 annual impairment test date, the Company had $57.1 million of indefinite-lived intangible assets, of which $53.8 million were tested for impairment using a quantitative approach. Based on the quantitative tests performed, the Company concluded it to be more likely than not that the estimated fair values of the indefinite-lived intangible assets were greater than their respective carrying values. The change in the balance of intangible assets with indefinite lives from August 31, 2022 to August 31, 2023 and from the 2023 annual impairment test date to August 31, 2023 was due to foreign currency translation adjustments. Other intangible assets subject to amortization are detailed in the following table: August 31, 2023 August 31, 2022 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technologies $ 150,445 $ 25,228 $ 125,217 $ 147,040 $ 6,485 $ 140,555 Customer relationships 74,582 7,606 66,976 53,115 2,116 50,999 Patents 7,203 5,570 1,633 7,203 4,596 2,607 Perpetual lease rights 5,984 910 5,074 3,584 744 2,840 Trade names 3,287 1,129 2,158 3,212 764 2,448 Non-compete agreements 2,300 1,502 798 3,050 1,135 1,915 Other 224 125 99 101 99 2 Total $ 244,025 $ 42,070 $ 201,955 $ 217,305 $ 15,939 $ 201,366 The acquired assets from the Tendon and EDSCO acquisitions included intangible assets for customer relationships with fair values of $8.9 million and $12.0 million, respectively. The fair value of the intangible assets for customer relationships were each calculated using an income approach, under the with-and-without method, which considers opportunity costs associated with lost profits in the absence of the existing customer bases. The intangible assets for customer relationships were assigned useful lives of five years. See Note 2, Changes in Business, for additional information on the Tendon and EDSCO acquisitions. The foreign currency translation adjustments related to the intangible assets subject to amortization were immaterial for all periods presented above. Amortization expense for intangible assets was $25.9 million and $10.0 million in 2023 and 2022, respectively, of which $18.7 million and $6.4 million, respectively, was recorded in cost of goods sold and $7.2 million and $3.6 million, respectively, was recorded in SG&A expenses in the consolidated statements of earnings. Amortization expense for intangible assets was $2.1 million in 2021, all of which was recorded in SG&A expenses in the consolidated statement of earnings. Estimated amortization expense for the next five years is as follows: Year Ended August 31, (in thousands) 2024 $ 28,195 2025 26,464 2026 25,250 2027 25,142 2028 23,484

LEASES

LEASES	12 Months Ended
	Aug. 31, 2023
Leases [Abstract]
Operating Leases	NOTE 7. LEASES The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's consolidated balance sheets: (in thousands) Classification in Consolidated Balance Sheets August 31, 2023 August 31, 2022 Assets: Operating assets Other noncurrent assets $ 160,767 $ 138,937 Finance assets Property, plant and equipment, net 104,537 63,702 Total leased assets $ 265,304 $ 202,639 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 34,445 $ 31,792 Long-term Other noncurrent liabilities 129,800 111,150 Total operating lease liabilities 164,245 142,942 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 28,037 19,340 Long-term Long-term debt 67,433 39,196 Total finance lease liabilities 95,470 58,536 Total lease liabilities $ 259,715 $ 201,478 The components of lease cost were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Operating lease expense $ 40,093 $ 35,111 $ 32,752 Finance lease expense: Amortization of assets 16,574 13,302 13,050 Interest on lease liabilities 3,642 2,105 2,213 Total finance lease expense 20,216 15,407 15,263 Variable and short-term lease expense 20,810 20,856 20,096 Total lease expense $ 81,119 $ 71,374 $ 68,111 The weighted average remaining lease terms and discount rates for operating and finance leases are presented in the following table: August 31, 2023 August 31, 2022 Weighted average remaining lease term (years): Operating leases 5.6 5.3 Finance leases 4.1 3.4 Weighted average discount rate: Operating leases 4.730 % 4.076 % Finance leases 4.926 % 4.125 % Cash flow and other information related to leases is included in the following table: Year Ended August 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 40,645 $ 35,697 $ 31,686 Operating cash outflows from finance leases 3,642 2,093 2,228 Financing cash outflows from finance leases 22,837 17,821 16,016 ROU assets obtained in exchange for lease obligations: Operating leases $ 55,588 $ 59,035 $ 25,888 Finance leases 59,499 24,333 18,006 Future maturities of lease liabilities at August 31, 2023 are presented in the following table: (in thousands) Operating Leases Finance Leases 2024 $ 41,430 $ 32,051 2025 36,446 25,859 2026 31,278 19,394 2027 24,579 16,086 2028 16,449 9,104 Thereafter 41,843 3,239 Total lease payments 192,025 105,733 Less imputed interest (27,780) (10,263) Present value of lease liabilities $ 164,245 $ 95,470 As of August 31, 2023, the Company has additional leases that have not yet commenced, primarily for vehicles, with aggregate fixed payments over their terms of approximately $10.6 million, with $7.9 million to commence in 2024 and $2.7 million to commence in 2025. These leases have noncancellable terms of 4 to 6 years.
Finance Leases	NOTE 7. LEASES The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's consolidated balance sheets: (in thousands) Classification in Consolidated Balance Sheets August 31, 2023 August 31, 2022 Assets: Operating assets Other noncurrent assets $ 160,767 $ 138,937 Finance assets Property, plant and equipment, net 104,537 63,702 Total leased assets $ 265,304 $ 202,639 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 34,445 $ 31,792 Long-term Other noncurrent liabilities 129,800 111,150 Total operating lease liabilities 164,245 142,942 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 28,037 19,340 Long-term Long-term debt 67,433 39,196 Total finance lease liabilities 95,470 58,536 Total lease liabilities $ 259,715 $ 201,478 The components of lease cost were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Operating lease expense $ 40,093 $ 35,111 $ 32,752 Finance lease expense: Amortization of assets 16,574 13,302 13,050 Interest on lease liabilities 3,642 2,105 2,213 Total finance lease expense 20,216 15,407 15,263 Variable and short-term lease expense 20,810 20,856 20,096 Total lease expense $ 81,119 $ 71,374 $ 68,111 The weighted average remaining lease terms and discount rates for operating and finance leases are presented in the following table: August 31, 2023 August 31, 2022 Weighted average remaining lease term (years): Operating leases 5.6 5.3 Finance leases 4.1 3.4 Weighted average discount rate: Operating leases 4.730 % 4.076 % Finance leases 4.926 % 4.125 % Cash flow and other information related to leases is included in the following table: Year Ended August 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 40,645 $ 35,697 $ 31,686 Operating cash outflows from finance leases 3,642 2,093 2,228 Financing cash outflows from finance leases 22,837 17,821 16,016 ROU assets obtained in exchange for lease obligations: Operating leases $ 55,588 $ 59,035 $ 25,888 Finance leases 59,499 24,333 18,006 Future maturities of lease liabilities at August 31, 2023 are presented in the following table: (in thousands) Operating Leases Finance Leases 2024 $ 41,430 $ 32,051 2025 36,446 25,859 2026 31,278 19,394 2027 24,579 16,086 2028 16,449 9,104 Thereafter 41,843 3,239 Total lease payments 192,025 105,733 Less imputed interest (27,780) (10,263) Present value of lease liabilities $ 164,245 $ 95,470 As of August 31, 2023, the Company has additional leases that have not yet commenced, primarily for vehicles, with aggregate fixed payments over their terms of approximately $10.6 million, with $7.9 million to commence in 2024 and $2.7 million to commence in 2025. These leases have noncancellable terms of 4 to 6 years.

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	12 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
CREDIT ARRANGEMENTS	NOTE 8. CREDIT ARRANGEMENTS Long-term debt was as follows: Weighted Average Interest Rate as of August 31, 2023 Year Ended August 31, (in thousands) 2023 2022 2023 Notes 4.875% $ — $ 330,000 2030 Notes 4.125% 300,000 300,000 2031 Notes 3.875% 300,000 300,000 2032 Notes 4.375% 300,000 300,000 Series 2022 Bonds, due 2047 4.000% 145,060 145,060 Poland Term Loan — — 32,439 Short-term borrowings (1) 8,419 26,390 Other 4.547% 16,042 21,278 Finance leases 4.926% 95,470 58,536 Total debt 1,164,991 1,513,703 Less unamortized debt issuance costs (14,840) (16,496) Plus unamortized bond premium 4,646 4,838 Total amounts outstanding 1,154,797 1,502,045 Less current maturities of long-term debt and short-term borrowings (40,513) (388,796) Long-term debt $ 1,114,284 $ 1,113,249 __________________________________ (1) The weighted average interest rate of short-term borrowings was 7.800% and 7.260% as of August 31, 2023 and 2022, respectively. Senior Notes In May 2013, the Company issued $330.0 million of 4.875% Senior Notes due May 2023 (the "2023 Notes"). As of August 31, 2022, the 2023 Notes were included in current maturities of long-term debt and short-term borrowings in the consolidated balance sheet. In November 2022, the Company repurchased $115.9 million in aggregate principal amount of the 2023 Notes through a cash tender offer and recognized an immaterial loss on debt extinguishment. On May 15, 2023, the Company repaid the remaining $214.1 million outstanding aggregate principal amount of the 2023 Notes, plus interest, at maturity. 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 February 2021, the Company issued $300.0 million of 3.875% Senior Notes due February 2031 (the "2031 Notes") and accepted for purchase all of the previously outstanding $350.0 million of 5.750% Senior Notes due April 2026 (the "2026 Notes") through a cash tender offer. Issuance costs associated with the 2031 Notes and loss on debt extinguishment recognized related to the retirement of the 2026 Notes were $4.9 million and $16.8 million, respectively, in 2021. Interest on the 2031 Notes is payable semiannually on February 15 and August 15. 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. During 2022, the full amount of the proceeds was used to fund a portion of the acquisition, construction and equipping of the Company’s third micro mill. Issuance costs associated with the Series 2022 Bonds were $3.1 million. The Series 2022 Bonds accrue interest at 4.0%, payable semiannually on April 15 and October 15, and have a maturity date in October 2047. Credit Facilities In October 2022, the Company entered into a Sixth Amended and Restated Credit Agreement (as amended, the "Credit Agreement") with a revolving credit facility (the "Revolver") of $600.0 million and a maturity date in October 2027, replacing the Fifth Amended and Restated Credit Agreement with a revolving credit facility of $400.0 million and a maturity date in March 2026. The maximum availability under the Revolver can be increased to $850.0 million with bank approval. The Credit Agreement also provides for a delayed draw senior secured term loan facility with a maximum principal amount of $200.0 million (the “Term Loan”). The Term Loan is coterminous with the Revolver. As of August 31, 2023, the Company had no amounts drawn under the Term Loan. The Company's obligations under the Credit Agreement are collateralized by its North America inventory. The Credit Agreement's capacity includes a $50.0 million sub-limit for the issuance of stand-by letters of credit. The Company had no amounts drawn under the Revolver or the previous revolving credit facility at August 31, 2023 or 2022. The availability under the Revolver and the previous revolving credit facility, as applicable, was reduced by outstanding stand-by letters of credit of $0.9 million and $1.4 million at August 31, 2023 and 2022, respectively. Under the Credit Agreement, the Company is required to comply with certain covenants, including covenants to maintain: (i) an interest coverage ratio (consolidated EBITDA to consolidated interest expense, as each is defined in the Credit Agreement) of not less than 2.50 to 1.00 and (ii) a debt to capitalization ratio (consolidated funded debt to total capitalization, as each is defined in the Credit Agreement) that does not exceed 0.60 to 1.00. Loans under the Credit Agreement bear interest based on the Eurocurrency rate, a base rate, or the Secured Overnight Financing Rate ("SOFR"). At August 31, 2023, the Company was in compliance with all financial covenants contained in its credit arrangements. At August 31, 2023, the Company's interest coverage ratio was 34.79 to 1.00 and the Company's debt to capitalization ratio was 0.22 to 1.00. In November 2022, the Company repaid the outstanding principal on its term loan facility (the "Poland Term Loan") through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At August 31, 2023, there was no amount outstanding or available, compared to PLN 152.4 million, or $32.4 million, outstanding and available under the facility as of August 31, 2022. The Company also has credit facilities in Poland, through its subsidiary, CMCP, available to support working capital, short-term cash needs, letters of credit, financial assurance and other trade finance-related matters. In 2023, the Company amended certain terms of its credit facilities in Poland through CMCP, increasing the total credit facilities from PLN 300.0 million, or $63.9 million, at August 31, 2022, to PLN 600.0 million, or $145.4 million, at August 31, 2023. The facilities have an expiration date in April 2026. CMCP had no borrowings or repayments under its credit facilities in 2023 and 2022, and at August 31, 2023 and 2022, no amounts were outstanding under these facilities. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees and/or other financial assurance instruments, which totaled $16.3 million and $1.0 million at August 31, 2023 and 2022, respectively. The scheduled maturities of the Company's long-term debt, excluding obligations related to finance leases, are included in the table below. See Note 7, Leases, for scheduled maturities of finance leases. Year Ended August 31, (in thousands) 2024 $ 4,057 2025 1,877 2026 1,789 2027 1,782 2028 1,795 Thereafter 1,049,802 Total long-term debt, excluding finance leases 1,061,102 Less unamortized debt issuance costs (14,840) Plus unamortized bond premium 4,646 Total long-term debt outstanding, excluding finance leases $ 1,050,908 The Company capitalized $21.5 million, $11.9 million and $2.8 million of interest in the cost of property, plant and equipment during 2023, 2022 and 2021, respectively. Accounts Receivable Facilities The Company's subsidiary in Poland, CMCP, transfers trade accounts receivable to financial institutions without recourse (the "Poland Facility"). The Poland Facility has a facility limit of PLN 288.0 million, or $69.8 million and $61.3 million as of August 31, 2023 and August 31, 2022, respectively. Advances taken under the Poland Facility incur interest based on the Warsaw Interbank Offered Rate ("WIBOR") plus a margin. The transfer of receivables under the Poland Facility does not qualify to be accounted for as sales. Therefore, any advances outstanding under this program are recorded as debt on the Company's consolidated balance sheets. The Company had PLN 34.7 million, or $8.4 million, advance payments outstanding under the Poland Facility at August 31, 2023 compared to PLN 124.0 million, or $26.4 million, at August 31, 2022.

NEW MARKETS TAX CREDIT TRANSACT

NEW MARKETS TAX CREDIT TRANSACTIONS	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
New Markets Tax Credit Transactions	NOTE 9. NEW MARKETS TAX CREDIT TRANSACTIONS During 2016 and 2017, the Company entered into three New Markets Tax Credit ("NMTC") transactions with U.S. Bancorp Community Development Corporation, a Minnesota corporation ("USBCDC"). The NMTC transactions relate to the construction and equipping of the micro mill in Durant, Oklahoma, as well as a rebar spooler and automated T-post shop located on the same site. The transactions qualified through the New Markets Tax Credit program provided for in the Community Renewal Tax Relief Act of 2000 (the "NMTC Program"), as the micro mill, spooler and T-post shop are located in an eligible zone designated by the Internal Revenue Service ("IRS") and are considered eligible business activities for the NMTC Program. Under the NMTC Program, an investor that makes a capital investment, which, in turn, together with leverage loan sources, is used to make a Qualifying Equity Investment ("QEI") in an entity that (i) qualifies as a Community Development Entity ("CDE"), (ii) has applied for and been granted an allocation of a portion of the total federal funds available to fund the credits (an "NMTC Allocation") and (iii) uses a minimum specified portion of the QEI to make a Qualified Low Income Community Investment up to the maximum amount of the CDE’s NMTC Allocation will be entitled to claim, over a period of seven years, federal nonrefundable tax credits in an amount equal to 39% of the QEI amount. NMTCs are subject to 100% recapture for a period of seven years as provided in the Internal Revenue Code. In general, the three NMTC transactions were structured similarly. USBCDC made a capital contribution to an investment fund and Commonwealth Acquisition Holdings, Inc., a wholly-owned subsidiary of the Company (“Commonwealth”), made a loan to the investment fund. The investment fund used the proceeds from the capital contribution and the loan to make a QEI into a CDE, which, in turn, makes loans of the QEIs to the operating subsidiaries of the Company with terms similar to the loans by Commonwealth. The following table summarizes the key terms and conditions for each of the three NMTC transactions ($ in millions): Project USBCDC Capital Contribution Commonwealth Loan Commonwealth Loan Rate / Maturity Investment Fund(s) QEI to CDE CDE Loan Micro mill $17.7 $35.3 1.08% / December 24, 2045 USBCDC Investment Fund 156, LLC $51.5 $50.7 Spooler 6.7 14.0 1.39% / July 26, 2042 Twain Investment Fund 249, LLC 20.0 19.4 T-post shop 5.0 10.4 1.16% / March 23, 2047 Twain Investment Fund 219, LLC 15.0 14.7 By its capital contributions to the investment funds (exclusive of Twain Investment Fund 222) (collectively, the "Funds"), USBCDC is entitled to substantially all the benefits derived from the NMTCs. These transactions include a put/call provision whereby the Company may be obligated or entitled to repurchase USBCDC’s interest in the Funds at the end of a seven-year period, in the case of the USBCDC Investment Fund 156, LLC and Twain Investment Fund 249, LLC or an eight-year period, in the case of Twain Investment Fund 219, LLC (each of such periods, an "Exercise Period"). As of August 31, 2022, $17.7 million and $9.5 million of USBCDC’s contributions, which represented deferred revenue to the Company, were included in accrued expenses and other payables and other noncurrent liabilities in the consolidated balance sheet, respectively. During December 2022, the Exercise Period on the first NMTC transaction, the USBCDC Investment Fund 156, ended, and therefore, the corresponding $17.7 million USBCDC capital contribution was recognized in net sales during the year ended August 31, 2023. The Exercise Period on the Twain Investment Fund 249 will end on July 26, 2024, and therefore, the corresponding $6.7 million USBCDC capital contribution was reclassified to accrued expenses and other payables in the Company's consolidated balance sheet as of August 31, 2023. The $2.8 million of USBCDC capital contribution for Twain Investment Fund 219 remained in other noncurrent liabilities in the consolidated balance sheet as of August 31, 2023. Additionally, the $2.2 million of capital contributions to Twain Investment Fund 222 resulted in a $2.1 million QEI, which was classified as long-term debt in the Company's consolidated balance sheet as of August 31, 2022, and will mature in March 2024. The obligation represents the Company's maximum exposure to loss and was reclassified to current maturities of long-term debt and short-term borrowings as of August 31, 2023. The Company believes USBCDC will exercise the put options following the end of the respective remaining Exercise Periods. The value attributed to the put/call is immaterial. The Company is required to follow various regulations and contractual provisions that apply to the NMTC transactions. Non-compliance with applicable requirements could result in unrealized projected tax benefits and, therefore, could require the Company to indemnify USBCDC for any loss or recapture of NMTCs related to the financing until the Company's obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with these transactions. The Company has determined that the Funds are VIEs, of which the Company is the primary beneficiary and has consolidated them in accordance with ASC Topic 810, Consolidation. Direct costs incurred in structuring the transactions were deferred and are recognized as expense over each Exercise Period. Incremental costs to maintain the structures during the compliance periods are recognized as incurred.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Aug. 31, 2023
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. 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 Company considers the total notional value of its futures and forward contracts as the best measure of the volume of derivative transactions. At August 31, 2023 and 2022, the notional values of the Company's commodity contract commitments were $456.4 million and $205.1 million, respectively. The increase in the notional value of the Company’s commodity contract commitments from August 31, 2022 to August 31, 2023 was due to the Company entering into additional Level 3 commodity derivative contracts as described in Note 11, Fair Value. At August 31, 2023 and 2022, the notional values of the Company's foreign currency contract commitments were $221.4 million and $253.5 million, respectively. The following table provides information regarding the Company's commodity contract commitments as of August 31, 2023: Commodity Position Total Aluminum Long 2,850 MT Aluminum Short 1,400 MT Copper Long 147 MT Copper Short 8,459 MT Electricity Long 3,312,000 MW(h) Natural Gas Long 5,270,500 MMBtu __________________________________ MT = Metric ton MW(h) = Megawatt hour MMBtu = Metric Million British thermal unit The following table summarizes the location and fair value amounts of the Company's derivative instruments reported in the consolidated balance sheets: (in thousands) Primary Location August 31, 2023 August 31, 2022 Derivative assets: Commodity Prepaid and other current assets $ 11,427 $ 26,180 Commodity Other noncurrent assets 184,261 134,667 Foreign exchange Prepaid and other current assets 1,898 1,296 Derivative liabilities: Commodity Accrued expenses and other payables $ 2,983 $ 1,110 Commodity Other noncurrent liabilities 1,085 150 Foreign exchange Accrued expenses and other payables 2,566 3,126 The following table summarizes activities related to the Company's derivatives not designated as cash flow hedging instruments recognized in the consolidated statements of earnings. All other activity related to the Company's derivatives not designated as cash flow hedging instruments was immaterial for the periods presented. Year Ended August 31, Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Primary Location 2023 2022 2021 Commodity Cost of goods sold $ (3,028) $ 15,862 $ (18,035) Foreign exchange SG&A expenses 12,265 (6,547) (3,674) The following table summarizes activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the consolidated statements of comprehensive income and consolidated statements of earnings, respectively. Amounts presented do not include the effects of foreign currency translation adjustments. Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Other Comprehensive Income, Net of Income Taxes (in thousands) Amount of Gain Reclassified from AOCI into Earnings on Derivatives (in thousands) Year Ended August 31, Year Ended August 31, 2023 2022 2021 Primary Location 2023 2022 2021 Commodity $ 6,367 $ 138,534 $ 35,392 Cost of goods sold $ 11,325 $ 27,267 $ 2,378 Foreign exchange 28 100 100 SG&A expenses 244 244 555

FAIR VALUE

FAIR VALUE	12 Months Ended
	Aug. 31, 2023
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. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, for definitions of the three levels within the hierarchy. 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) Total Quoted Prices in Significant Other Significant As of August 31, 2023: Assets: Investment deposit accounts (1) $ 508,227 $ 508,227 $ — $ — Commodity derivative assets (2) 195,689 1,264 — 194,425 Foreign exchange derivative assets (2) 1,898 — 1,898 — Liabilities: Commodity derivative liabilities (2) 4,068 4,068 — — Foreign exchange derivative liabilities (2) 2,566 — 2,566 — As of August 31, 2022: Assets: Investment deposit accounts (1) $ 572,384 $ 572,384 $ — $ — Commodity derivative assets (2) 160,847 17,347 — 143,500 Foreign exchange derivative assets (2) 1,296 — 1,296 — Liabilities: Commodity derivative liabilities (2) 1,260 1,260 — — Foreign exchange derivative liabilities (2) 3,126 — 3,126 — __________________________________ (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 the 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. As of August 31, 2022, the Company had one Level 3 commodity derivative. The Company entered into its second and third Level 3 commodity derivatives in September 2022 and January 2023, respectively, with the same counterparty as the first Level 3 commodity derivative. Both the second and third Level 3 commodity derivatives will begin to settle in January 2025. The fair value estimate of the Level 3 commodity derivatives are based on internally developed discounted cash flow models primarily utilizing unobservable inputs in which there is little or no market data. The Company forecasts future energy rates using a range of historical prices (the "floating rate"). The floating rate is the only significant unobservable input used in the Company's discounted cash flow models. Significantly higher or lower floating rates could have resulted in a material difference in our fair value measurement. The following table summarizes the floating rates used to measure the fair value of the Level 3 commodity derivatives during 2023 and 2022, which are applied uniformly across each of our Level 3 commodity derivatives: Floating Rate (PLN) Year Ended August 31, Low High Average 2023 480 855 630 2022 460 1,299 717 Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivatives recognized in the consolidated statements of comprehensive income. Amounts presented are before income taxes. The fluctuation in energy rates over time may cause volatility in the fair value estimate and is the primary reason for the unrealized gains in other comprehensive income in 2023, 2022 and 2021. (in thousands) Level 3 Commodity Derivatives Balance at September 1, 2020 $ (15,007) Unrealized holding gain (1) 43,798 Reclassification for gain included in net earnings (2) (2,378) Balance at August 31, 2021 26,413 Unrealized holding gain (1) 138,760 Reclassification for gain included in net earnings (2) (21,673) Balance at August 31, 2022 143,500 Unrealized holding gain (1) 62,706 Reclassification for gain included in net earnings (2) (11,781) Balance at August 31, 2023 $ 194,425 __________________________________ (1) Unrealized holding gains, net of foreign currency translation, less amounts reclassified are included in net unrealized holding gain (reclassification for realized gain) on derivatives in the consolidated statements of comprehensive income. (2) Gains included in net earnings are recorded in cost of goods sold in the consolidated statements of earnings. There were no material non-recurring fair value remeasurements in 2023 or 2022. The carrying values of the Company's short-term items, including documentary letters of credit and notes payable, approximate fair value. The carrying value and fair value of the Company's long-term debt, including current maturities, excluding other borrowings and finance leases, was $1.0 billion and $900.9 million, respectively, at August 31, 2023, and $1.4 billion and $1.2 billion, respectively, at August 31, 2022. The Company estimates these fair values based on Level 2 of the fair value hierarchy using indicated market values. The Company's other borrowings contain variable interest rates, and as a result, their carrying values approximate fair values.

INCOME TAX

INCOME TAX	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 12. INCOME TAX The components of earnings before income taxes were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 United States $ 1,095,099 $ 1,197,769 $ 413,616 Foreign 26,868 317,378 120,402 Total $ 1,121,967 $ 1,515,147 $ 534,018 The income taxes (benefit) included in the consolidated statements of earnings were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Current: United States $ 168,399 $ 122,334 $ 113,696 Foreign 6,089 63,912 25,642 State and local 32,916 20,228 19,458 Current taxes 207,404 206,474 158,796 Deferred: United States 46,008 81,162 (10,563) Foreign (847) (3,388) (2,512) State and local 9,642 13,637 (24,568) Deferred taxes 54,803 91,411 (37,643) Total income taxes $ 262,207 $ 297,885 $ 121,153 A reconciliation of the federal statutory rate to the Company's effective income tax rate, including material items impacting the effective income tax rate, is as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Income tax expense at statutory rate $ 235,613 $ 318,181 $ 112,144 State and local taxes (1)(2) 33,621 26,753 (3,838) Research and development credit (2) (7,986) (13,102) (1,289) Foreign tax impairment on valuation of subsidiaries (3) (7,334) — (29,866) Change in valuation allowance 6,471 (447) 37,092 Global intangible low-taxed income (4)(5) (1,967) 685 17,263 Capital loss (6) — (34,736) — Nontaxable foreign interest (3) — 3 (14,617) Other 3,789 548 4,264 Income tax expense $ 262,207 $ 297,885 $ 121,153 Effective income tax rate 23.4 % 19.7 % 22.7 % __________________________________ (1) State and local taxes in 2021 includes a $19.9 million benefit related to the release of certain state valuation allowances. (2) 2023 and 2022 include impacts of uncertain tax positions. (3) Fully offset by a valuation allowance. (4) Amounts are net of adjustments resulting from differences between prior year estimates and amounts included in tax returns. (5) 2021 includes the tax effect of a gain recognized in connection with a global tax restructuring. (6) Resulted from a tax restructuring transaction. The Company plans to repatriate the current and future earnings from material jurisdictions within the Europe segment and recorded an immaterial amount of tax expense related to such future distributions. The Company considers all undistributed earnings of its non-U.S. subsidiaries prior to August 31, 2019 to be indefinitely reinvested and has not recorded deferred tax liabilities on such earnings. The income tax effects of significant temporary differences giving rise to deferred tax assets and liabilities were as follows: August 31, (in thousands) 2023 2022 Deferred tax assets: Net operating losses and credits $ 298,624 $ 300,787 Capitalized research and development 45,669 — ROU operating lease liabilities 39,984 33,398 Deferred compensation and employee benefits 33,491 39,095 Reserves and other accrued expenses 16,510 11,730 Other 21,750 17,253 Total deferred tax assets 456,028 402,263 Valuation allowance for deferred tax assets (280,463) (268,547) Deferred tax assets, net 175,565 133,716 Deferred tax liabilities: Property, plant and equipment (351,900) (261,638) Intangible assets (44,168) (48,558) ROU operating lease assets (38,801) (32,444) Derivatives (35,992) (27,324) Other (11,453) (14,054) Total deferred tax liabilities (482,314) (384,018) Net deferred tax liabilities $ (306,749) $ (250,302) Net operating losses giving rise to deferred tax assets consist of $348.4 million of state net operating losses, $21.3 million of U.S. federal net operating losses and $946.6 million of foreign net operating losses that expire in varying amounts beginning in 2024 (with certain amounts having indefinite carryforward periods). These assets will be reduced as income tax expense is recognized in future periods. The Company maintains a valuation allowance to reduce certain deferred tax assets to amounts that are more likely than not to be realized. The Company's valuation allowances primarily relate to net operating loss and credit carryforwards in certain state and foreign jurisdictions for which utilization is uncertain. A reconciliation of the beginning and ending amounts of unrecognized income tax benefits is as follows: (in thousands) 2023 2022 2021 Balance at September 1, $ 29,747 $ 5,531 $ 8,652 Change for tax positions of current year 14,792 17,461 — Change for tax positions of prior years (374) 6,755 — Reductions due to lapse of statute of limitations — — (3,121) Balance at August 31, (1) $ 44,165 $ 29,747 $ 5,531 __________________________________ (1) The full balance of unrecognized income tax benefits in each year, if recognized, would have impacted the Company’s effective income tax rate at the end of each respective year. Accrued interest and penalties related to uncertain tax positions were not material in any period presented. The Company files income tax returns in the U.S. and multiple foreign jurisdictions with varying statutes of limitations. In the normal course of business, the Company and its subsidiaries are subject to examination by various taxing authorities. The following is a summary of all fiscal years that are open to examination. U.S. Federal — 2020 and forward U.S. States — 2019 and forward Foreign — 2018 and forward

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Aug. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	NOTE 13. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans provide for the issuance of incentive and nonqualified stock options, restricted stock awards and performance-based awards. The Compensation Committee of the Board of Directors (the "Compensation Committee") approves all awards that are granted under the Company's stock-based compensation plans. Stock-based compensation expense for 2023, 2022 and 2021 of $60.5 million, $47.0 million and $43.7 million, respectively, was primarily included in SG&A expenses on the Company's consolidated statements of earnings. Total tax benefits recognized in the consolidated statements of earnings related to stock-based compensation expense were $14.2 million, $9.3 million and $9.9 million for the years ended August 31, 2023, 2022 and 2021, respectively. As of August 31, 2023, total unrecognized compensation cost related to unvested stock-based compensation arrangements was $22.6 million, which is expected to be recognized over a weighted average period of 1.8 years. The following table summarizes the total awards granted: Restricted Stock Performance 2023 grants 633,898 335,746 2022 grants 652,951 328,734 2021 grants 847,872 406,098 As of August 31, 2023, the Company had 3,704,585 shares of common stock available for future grants. Restricted Stock Units Restricted stock units issued under the Company's stock-based compensation plans may not be sold, transferred, pledged or assigned until service-based restrictions lapse. The restricted stock units generally vest and are converted to shares of the Company's common stock in three equal installments on each of the first three anniversaries of the date of grant. Generally, upon termination of employment, restricted stock units that have not vested are forfeited. Other than awards granted to certain executives, which continue to vest following qualifying retirement, a pro-rata portion of the unvested restricted stock awarded will vest and become payable upon death, disability or qualifying retirement. The estimated fair value of the restricted stock units is based on the closing price of the Company's common stock on the date of grant, discounted for the expected dividend yield through the vesting period. Compensation cost related to the restricted stock units is recognized ratably over the service period and is included in equity on the Company's consolidated balance sheets. Performance Stock Units Performance stock units issued under the Company's stock-based compensation plans may not be sold, transferred, pledged or assigned until service-based restrictions lapse and any performance objectives have been attained as established by the Compensation Committee. Recipients of these awards generally must be actively employed by and providing services to the Company on the last day of the performance period in order to receive an award payout. Other than awards granted to certain executives, which continue to vest following qualifying retirement, a pro-rata portion of the performance stock units will vest and become payable at the end of the performance period upon death, disability or qualifying retirement. Compensation cost for performance stock units is accrued based on the probable outcome of specified performance conditions, net of estimated forfeitures. The Company accrues compensation cost if it is probable that the performance conditions will be met. The Company reassesses the probability of meeting the specified performance conditions at the end of each reporting period and adjusts compensation cost, as necessary, based on the probability of achieving the performance conditions. If the performance conditions are not met at the end of the performance period, the Company reverses the related compensation cost. Performance targets established by the Compensation Committee for performance stock units awarded in 2023, 2022 and 2021 were weighted 75% based on the Company's cumulative EBITDA targets and positive return on invested capital for the fiscal year in which the awards were granted and the succeeding two fiscal years, as approved by the Board of Directors in the respective year's business plan, and 25% based on a three-year relative total stockholder return metric. Performance stock units awarded will be settled in shares of the Company's common stock. Award payouts range from a threshold of 50% to a maximum of 200% for each portion of the target awards. The performance stock units awarded in 2023 and 2022 associated with the cumulative EBITDA targets have been classified as liability awards because the final EBITDA target will not be set until the third year of the performance period. Consequently, these awards were included in accrued expenses and other payables on the Company's consolidated balance sheets. The fair value of these performance stock units is remeasured each reporting period and is recognized ratably over the service period. The performance stock units associated with the total stockholder return metric were valued at fair value on the date of grant using the Monte Carlo pricing model and were included in equity on the Company's consolidated balance sheets. Information for restricted stock units and performance stock units is as follows: Number Weighted Average Outstanding as of August 31, 2020 2,245,637 $ 18.79 Granted 1,519,153 20.49 Vested (1,451,846) 17.62 Forfeited (122,149) 20.19 Outstanding as of August 31, 2021 2,190,795 20.67 Granted 1,466,628 28.16 Vested (1,617,943) 18.84 Forfeited (45,850) 23.57 Outstanding as of August 31, 2022 1,993,630 27.59 Granted 1,438,695 36.88 Vested (1,621,002) 25.32 Forfeited (33,732) 36.65 Outstanding as of August 31, 2023 1,777,591 $ 37.01 The total fair value of shares vested during 2023, 2022 and 2021 was $41.0 million, $30.5 million and $25.6 million, respectively. The Company granted 269,052 and 261,275 equivalent shares of restricted stock units and performance stock units accounted for as liability awards during 2023 and 2022, respectively. As of August 31, 2023, the Company had 541,202 equivalent shares of awards outstanding and expects 514,142 equivalent shares to vest. Stock Purchase Plan Almost all U.S. resident employees may participate in the Company's employee stock purchase plan. Each eligible employee may purchase up to 500 shares annually. The Board of Directors established a 15% purchase discount based on market prices on specified dates for 2023, 2022 and 2021. Yearly activity of the stock purchase plan was as follows: Year Ended August 31, 2023 2022 2021 Shares subscribed 272,980 279,370 347,510 Price per share $ 41.31 $ 29.90 $ 17.14 Shares purchased 248,080 313,790 292,690 Price per share $ 29.90 $ 17.14 $ 18.80 Shares available for future issuance 745,754

EMPLOYEES' RETIREMENT PLANS

EMPLOYEES' RETIREMENT PLANS	12 Months Ended
	Aug. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEES' RETIREMENT PLANS	NOTE 14. EMPLOYEES' RETIREMENT PLANS Substantially all employees in the U.S. are covered by a defined contribution 401(k) retirement plan. The tax qualified defined contribution plan is maintained, and contributions are made, in accordance with the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Company also provides certain eligible executives benefits pursuant to its Benefit Restoration Plan ("BRP") equal to amounts that would have been available under the tax qualified ERISA plan, but were subject to the limitations of ERISA, tax laws and regulations. Company expenses for these plans, a portion of which are discretionary, totaled $40.4 million, $34.0 million and $47.0 million for 2023, 2022 and 2021, respectively, of which $14.3 million, $7.2 million and $25.5 million was recorded in SG&A expenses during 2023, 2022 and 2021, respectively, and $26.1 million, $26.8 million and $21.5 million was recorded in cost of goods sold during 2023, 2022 and 2021, respectively, in the Company's consolidated statements of earnings. The deferred compensation liability under the BRP was $48.2 million and $43.1 million at August 31, 2023 and 2022, respectively, of which $41.1 million and $40.0 million, respectively, was included in other noncurrent liabilities, and $7.1 million and $3.1 million, respectively, was included in accrued expenses and other payables on the Company's consolidated balance sheets. Though under no obligation to fund the BRP, the Company has segregated assets in a trust with a value of $60.1 million and $57.9 million at August 31, 2023 and 2022, respectively, and such assets were included in other noncurrent assets on the Company's consolidated balance sheets. The net holding gain on these segregated assets was $5.0 million in 2023, compared to a net holding loss of $7.1 million and a net holding gain of $10.1 million in 2022 and 2021, respectively, and was included in net sales in the Company's consolidated statements of earnings. U.K. Pension Plan Following the acquisition of Tensar, the Company assumed the TGL Pension Plan in the United Kingdom (the "U.K.") (the "U.K. Pension Plan"), a defined benefit pension plan. The U.K. Pension Plan provides retirement benefit payments for participating retired employees and their spouses, and was closed to new participants prior to the acquisition of Tensar. Upon acquisition, the excess of projected U.K. Pension Plan assets over the U.K. Pension Plan benefit obligation was recognized as an asset on the Company's consolidated balance sheet and previously existing deferred actuarial gains and losses and unrecognized service costs or benefits were eliminated. The Company’s funding policy for the U.K. Pension Plan is to contribute annually the amount necessary to provide for benefits based on accrued service and meet at least the minimum contributions required by applicable regulations. U.S. Pension Plan In 2019, the Company acquired a partially funded defined benefit pension plan (the "U.S. Pension Plan"), which was closed to new participants prior to the acquisition. In October 2022, the Company terminated its U.S. Pension Plan. As part of the termination, the Company made a contribution of $4.1 million. Plan assets were liquidated to purchase annuity contracts with an insurance company for all participants. The Company recognized a $4.2 million settlement charge as a result of the termination, including an immaterial non-cash charge for unrecognized losses within AOCI as of the termination date. The $4.2 million settlement charge was recognized within SG&A expenses in the consolidated statement of earnings during the year ended August 31, 2023. No benefit obligation or plan assets related to the U.S. Pension Plan remain. The following tables include a reconciliation of the beginning and ending balances of the pension benefit obligation and the fair value of plan assets resulting from the U.K. Pension Plan and the U.S. Pension Plan and the related amounts recognized in the Company’s consolidated balance sheets as of August 31, 2023 and 2022: U.K. Pension Plan (in thousands) 2023 2022 Benefit obligation at beginning of year $ 52,042 $ — Acquisition — 68,966 Interest cost 2,261 635 Actuarial gain (5,354) (11,107) Benefits paid (2,529) (942) Foreign currency translation 4,480 (5,510) Benefit obligation at end of year $ 50,900 $ 52,042 Fair value of plan assets at beginning of year $ 60,454 $ — Acquisition — 83,586 Actual loss on plan assets (13,533) (15,718) Employer contributions 297 73 Benefits paid (2,529) (942) Foreign currency translation 4,833 (6,545) Fair value of plan assets at end of year $ 49,522 $ 60,454 Funded status at end of year (net asset (liability) recognized in the consolidated balance sheets as of August 31,) $ (1,378) $ 8,412 Amounts recognized in AOCI as of August 31, Net actuarial loss $ 16,477 $ 5,666 U.S. Pension Plan (in thousands) 2023 2022 Benefit obligation at beginning of year $ 26,568 $ 33,687 Interest cost — 709 Actuarial gain (47) (6,010) Benefits paid (466) (1,818) Settlement (26,055) — Benefit obligation at end of year $ — $ 26,568 Fair value of plan assets at beginning of year $ 24,440 $ 34,126 Actuarial gain (47) — Actual loss on plan assets (1,966) (7,407) Administrative expenses — (461) Employer contributions 4,094 — Benefits paid (466) (1,818) Settlement (26,055) — Fair value of plan assets at end of year $ — $ 24,440 Funded status at end of year (net liability recognized in the consolidated balance sheets as of August 31,) $ — $ (2,128) Amounts recognized in AOCI as of August 31, Net actuarial loss $ — $ 2,278 Weighted average assumptions used to determine benefit obligations are detailed below: U.K. Pension Plan U.S. Pension Plan 2023 2022 2022 Effective discount rate for benefit obligations 5.3 % 4.3 % 4.7 % The pension accumulated benefit obligation represents the actuarial present value of benefits based on employee service and compensation as of the measurement date and does not include an assumption about future compensation levels. Net periodic benefit costs (gains) are recorded in SG&A expenses within the consolidated statements of earnings. Components of net periodic benefit costs (gains) and other supplemental information are detailed below: U.K. Pension Plan Year Ended August 31, (in thousands) 2023 2022 Interest cost $ 2,261 $ 635 Expected return on plan assets (2,589) (1,067) Total net periodic benefit gain $ (328) $ (432) Other changes in plan assets and benefit obligations recognized in other comprehensive income Net actuarial loss arising during measurement period $ 10,811 $ 5,666 U.S. Pension Plan Year Ended August 31, (in thousands) 2023 2022 2021 Expected administrative expenses $ — $ 50 $ 290 Interest cost — 709 724 Expected return on plan assets — (1,579) (1,493) Settlement 4,245 — — Total net periodic benefit (gain) cost $ 4,245 $ (820) $ (479) Other changes in plan assets and benefit obligations recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ (2,278) $ 3,388 $ (4,344) Weighted average assumptions used to determine net periodic benefit cost are detailed below: U.K Pension Plan 2023 2022 Effective rate for interest on benefit obligations 4.3 % 2.9 % Expected long-term rate of return 4.6 % 4.0 % U.S. Pension Plan 2022 2021 Effective rate for interest on benefit obligations 2.2 % 2.1 % Expected long-term rate of return 5.0 % 5.0 % The Company determines the discount rates used to measure liabilities as of the August 31 measurement date, which is also the date used for the related annual measurement assumptions. The discount rates reflect the current rate at which the associated liabilities could be effectively settled at the end of the year. For the U.K. Pension Plan, the Company sets its discount rate by reference to a corporate bond yield curve derived from AA rated U.K. corporate bonds. The single equivalent discount rate is derived as equivalent to applying the full yield curve approach to each future year's projected benefit cash flow. For the U.S. Pension Plan, the Company used the full yield curve approach and set its rates to reflect the yield of a portfolio of high-quality corporate bonds that would produce cash flows sufficient in timing and amount to settle projected future benefits. The expected return assumptions are based on the strategic asset allocation of each plan and long-term capital market return expectations. For the U.K. Pension Plan, the interest cost calculation is determined by applying the single equivalent discount rate to the discounted value of the year-by-year projected benefit payments. For the U.S. Pension Plan, the Company measured interest cost using the full yield curve approach. The interest cost calculation was determined by applying duration-specific spot rates to the year-by-year projected benefit payments. Neither the single equivalent discount rate nor the full yield curve approach affect the measurement of the total benefit obligations. The Company plans to make immaterial contributions to the U.K. Pension Plan in 2024. Future contributions will depend on market conditions, interest rates and other factors. Plan Assets Plan assets consist primarily of public equity, corporate and government bonds. The principal investment objectives are to achieve, over the long term, a return on the plan assets which is consistent with the assumptions made by the plan actuaries in determining the funding of the plans, to ensure that sufficient liquid assets are available to meet benefit payments as they fall due and to consider the interest of the Company in relation to the size and volatility of the Company's contribution requirements. Each asset class has broadly diversified characteristics. Asset and benefit obligation forecasting studies are conducted periodically, generally every two to three years, or when significant changes have occurred in market conditions, benefits, participant demographics or funded status. The U.K. Pension Plan's weighted average target allocation ranges and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories, are detailed below: Pension Assets Target Percent 2023 2022 Fixed income securities 85.0% to 90.0% 88.2% 71.4% Equity securities — to 5.0 — 12.4 Cash and other 10.0 to 15.0 11.8 16.2 Total 100% 100% Investment Valuation Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability at the measurement date. Fixed income securities are valued at the yields currently available on comparable securities of issues with similar credit ratings. Investments in equity securities traded on a national securities exchange are valued at the last reported sales price on the final business day of the year. Purchases and sales of securities are recorded as of the trade date. Realized gains and losses on sales of securities are determined based on average cost. Interest income is recognized on the accrual basis. Dividend income is recognized on the ex-dividend date. Non-interest bearing cash is valued at cost, which approximates fair value. Fair Value Measurements The following table sets forth the fair value of the plan assets by asset class for the U.K. Pension Plan as of August 31, 2023 and 2022. Level 1 assets consist of cash and cash equivalents. Level 2 assets include funds invested in bonds and fixed income securities. Level 3 assets are measured at fair value using significant unobservable inputs and consist primarily of Secured Finance and Multistrategy Funds that invest in debt, loan and structured financial instruments in both public and private secured finance markets. Fair Value at Measurement Date Using (in thousands) Total Quoted Prices in Significant Other Significant As of August 31, 2023: Fixed income securities $ 43,654 $ — $ 40,497 $ 3,157 Cash and other 5,868 376 5,356 136 Fair value of U.K. Pension Plan assets $ 49,522 As of August 31, 2022: Fixed income securities $ 43,160 $ — $ 35,849 $ 7,311 Equity securities 7,514 — 7,514 — Cash and other 9,780 530 7,676 1,574 Fair value of U.K. Pension Plan assets $ 60,454 The changes in U.K. Pension Plan Level 3 assets related to actual return on plan assets, sales, transfers and foreign currency translation were immaterial from the Tensar Acquisition Date to August 31, 2022. The following table provides a reconciliation of U.K. Pension Plan Level 3 assets from August 31, 2022 to August 31, 2023: (in thousands) Level 3 Plan Assets Balance at August 31, 2022 $ 8,885 Sales (4,997) Actual return on plan assets: Assets held as of the reporting date 134 Assets sold during the year 256 Transfers out of Level 3 (1,541) Foreign currency translation 556 Balance at August 31, 2023 $ 3,293 The following table sets forth the fair value of the plan assets by asset class for the U.S. Pension Plan as of the August 31, 2022 measurement date. All securities were traded on a national securities exchange and therefore were Level 1 assets in the fair value hierarchy. (in thousands) August 31, 2022 Fixed income securities $ 23,958 Cash and other 482 Fair value of U.S. Pension Plan assets $ 24,440 Future Pension Benefit Payments The following table provides the estimated aggregate pension benefit payments that are payable from the U.K Pension Plan to participants in future years: (in thousands) U.K. Pension Plan 2024 $ 2,697 2025 2,764 2026 2,834 2027 2,905 2028 2,977 2029 through 2033 16,041

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Aug. 31, 2023
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	NOTE 15. CAPITAL STOCK Treasury Stock In October 2021, the Board of Directors authorized a new share repurchase program under which CMC may repurchase up to $350.0 million of shares of common stock (the "2021 share repurchase program"). The 2021 share repurchase program replaces the previously existing $100.0 million program announced on October 27, 2014, which was terminated by the Board of Directors in connection with the approval of the 2021 share repurchase program. The 2021 share repurchase program does not require the Company to acquire any dollar amount or number of shares of common stock and may be modified, suspended, extended or terminated at any time without prior notice. During 2021, the Company did not purchase any shares of common stock. During 2023 and 2022, the Company repurchased 2,309,452 and 4,496,628 shares of CMC common stock, respectively, at an average purchase price of $43.91 and $36.00 per share, respectively. CMC had remaining authorization to purchase $86.7 million of common stock at August 31, 2023. Preferred Stock The Company has 2,000,000 shares of preferred stock, par value of $1.00 per share, authorized. The Company may issue preferred stock in series, and the shares of each series may have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. There are no shares of preferred stock outstanding.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 16. EARNINGS PER SHARE Basic earnings per share ("EPS") is computed based on the weighted average shares of common stock outstanding during the period. 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. 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: Year Ended August 31, (in thousands, except share and per share data) 2023 2022 2021 Net earnings $ 859,760 $ 1,217,262 $ 412,865 Average basic shares outstanding 117,077,703 120,648,090 120,338,357 Effect of dilutive securities 1,528,568 1,724,296 1,645,140 Average diluted shares outstanding 118,606,271 122,372,386 121,983,497 Earnings per share: Basic $ 7.34 $ 10.09 $ 3.43 Diluted 7.25 9.95 3.38 Anti-dilutive shares not included in the table above were immaterial for all periods presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17. 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 August 31, 2023 and 2022, the amounts accrued for cleanup and remediation costs at certain sites in response to notices, actions and agreements under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”) were immaterial. Total accrued environmental liabilities, including CERCLA sites, were $4.5 million and $5.3 million as of August 31, 2023 and 2022, respectively, of which $2.0 million was classified as other noncurrent liabilities

ACCRUED EXPENSES AND OTHER PAYA

ACCRUED EXPENSES AND OTHER PAYABLES	12 Months Ended
	Aug. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER PAYABLES	NOTE 18. ACCRUED EXPENSES AND OTHER PAYABLES Significant accrued expenses and other payables were as follows: Year Ended August 31, (in thousands) 2023 2022 Salaries and incentive compensation $ 133,242 $ 187,586 Worker's compensation and general liability insurance 41,512 40,529 Taxes other than income taxes 39,433 72,874 Utilities 20,695 28,063

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
OPERATING SEGMENTS	NOTE 19. OPERATING SEGMENTS The Company's operating segments engage in business activities from which they may earn revenues and incur expenses and for which discrete financial information is available. Operating results for the operating segments are regularly reviewed by the Company's Chief Operating Decision Maker ("CODM") to manage the business, make decisions about resources to be allocated to the segments and to assess performance. As of August 31, 2023, the Company's CODM was identified as the President, the Chief Executive Officer, the Senior Vice President and Chief Financial Officer and the Senior Vice President Operations. The Company structures its business into the following two reportable segments: North America and Europe. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, 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 BRP assets and short-term investments, expenses of the Company's corporate headquarters, interest expense related to long-term debt, other revenue resulting from the Company's NMTC transactions and intercompany eliminations. Certain corporate administrative expenses are allocated to the segments based upon the nature of the expense. The CODM uses adjusted EBITDA to evaluate segment performance and allocate resources. Adjusted EBITDA is the sum of the Company's earnings before interest expense, income taxes, depreciation and amortization expense and impairment expense. The following table summarizes certain financial information by reportable segment and Corporate and Other: (in thousands) North America Europe Corporate and Other Total 2023 Net sales $ 7,347,020 $ 1,416,704 $ 35,809 $ 8,799,533 Adjusted EBITDA 1,454,754 61,353 (131,403) 1,384,704 Interest expense (1) 116,650 1,978 (78,501) 40,127 Capital expenditures 548,218 45,295 13,152 606,665 Depreciation and amortization 170,266 39,457 9,107 218,830 Asset impairments 3,733 47 — 3,780 Total assets 5,006,458 1,096,153 536,483 6,639,094 2022 Net sales $ 7,298,632 $ 1,621,642 $ (6,793) $ 8,913,481 Adjusted EBITDA 1,553,858 346,051 (154,103) 1,745,806 Interest expense (1) 26,798 3,819 20,092 50,709 Capital expenditures 415,157 27,783 7,048 449,988 Depreciation and amortization 135,322 31,250 8,452 175,024 Asset impairments 4,915 11 — 4,926 Total assets 4,467,314 1,056,101 713,612 6,237,027 2021 Net sales $ 5,670,976 $ 1,049,059 $ 9,725 $ 6,729,760 Adjusted EBITDA 746,594 148,258 (140,568) 754,284 Interest expense (1) 25,131 476 26,297 51,904 Capital expenditures 134,932 44,002 5,231 184,165 Depreciation and amortization 132,192 27,516 7,905 167,613 Asset impairments 6,360 424 — 6,784 Total assets 3,221,465 729,766 687,440 4,638,671 __________________________________ (1) Includes intercompany interest expense in the segments, which is eliminated within Corporate and Other. The following table presents a reconciliation of earnings to adjusted EBITDA: Year Ended August 31, (in thousands) 2023 2022 2021 Net earnings $ 859,760 $ 1,217,262 $ 412,865 Interest expense 40,127 50,709 51,904 Income taxes 262,207 297,885 121,153 Depreciation and amortization 218,830 175,024 167,613 Asset impairments 3,780 4,926 6,784 Amortization of acquired unfavorable contract backlog — — (6,035) Adjusted EBITDA $ 1,384,704 $ 1,745,806 $ 754,284 The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product: Year Ended August 31, 2023 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,322,781 $ 20,034 $ — $ 1,342,815 Steel products 2,785,266 1,068,946 — 3,854,212 Downstream products 2,517,908 200,196 — 2,718,104 Construction-related solutions 587,573 79,836 — 667,409 Other (1) 132,651 39,649 44,693 216,993 Net sales from external customers 7,346,179 1,408,661 44,693 8,799,533 Intersegment net sales, eliminated on consolidation 841 8,043 (8,884) — Net sales $ 7,347,020 $ 1,416,704 $ 35,809 $ 8,799,533 _______________________________ (1) Other revenue during the year ended August 31, 2023 includes $17.7 million derived from the Company's NMTC transactions. See Note 9, New Markets Tax Credit Transactions, for further information. Year Ended August 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,504,107 $ 25,259 $ — $ 1,529,366 Steel products 2,955,121 1,235,691 — 4,190,812 Downstream products 2,245,734 292,136 — 2,537,870 Construction-related solutions 453,517 27,279 — 480,796 Other 138,164 39,206 (2,733) 174,637 Net sales from external customers 7,296,643 1,619,571 (2,733) 8,913,481 Intersegment net sales, eliminated on consolidation 1,989 2,071 (4,060) — Net sales $ 7,298,632 $ 1,621,642 $ (6,793) $ 8,913,481 Year Ended August 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,162,997 $ 19,841 $ — $ 1,182,838 Steel products 2,289,975 808,662 — 3,098,637 Downstream products 1,814,192 192,175 — 2,006,367 Construction-related solutions 289,644 — — 289,644 Other 114,168 26,567 11,539 152,274 Net sales from external customers 5,670,976 1,047,245 11,539 6,729,760 Intersegment net sales, eliminated on consolidation — 1,814 (1,814) — Net sales $ 5,670,976 $ 1,049,059 $ 9,725 $ 6,729,760 The following table presents net sales by geographic area: Year Ended August 31, (in thousands) 2023 2022 2021 Geographic area: United States $ 6,894,990 $ 6,793,023 $ 5,295,447 Poland 941,806 1,078,986 793,075 China 217,779 246,679 156,101 Other 744,958 794,793 485,137 Net sales $ 8,799,533 $ 8,913,481 $ 6,729,760 The following table presents long-lived assets, net of accumulated depreciation and amortization, by geographic area: August 31, (in thousands) 2023 2022 2021 Geographic area: United States $ 2,343,606 $ 1,858,269 $ 1,473,745 Poland 209,966 180,350 225,582 Other 39,704 35,199 23 Total long-lived assets, net $ 2,593,276 $ 2,073,818 $ 1,699,350

SCHEDULE II _ VALUATION AND QUA

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	12 Months Ended
	Aug. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Additions Deductions Description (in thousands) Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts (1) Charged to Costs and Expenses Charged to Other Accounts (2) Balance at End of Period Year Ended August 31, 2023 Allowance for doubtful accounts $ 4,990 $ 463 $ 157 $ — $ (1,475) $ 4,135 Deferred tax valuation allowance $ 268,547 $ 16,514 $ — $ (4,598) $ — $ 280,463 Year Ended August 31, 2022 Allowance for doubtful accounts $ 5,553 $ 300 $ 193 $ — $ (1,056) $ 4,990 Deferred tax valuation allowance $ 278,099 $ 3,328 $ — $ (12,880) $ — $ 268,547 Year Ended August 31, 2021 Allowance for doubtful accounts $ 9,597 $ (1,429) $ 138 $ — $ (2,753) $ 5,553 Deferred tax valuation allowance $ 281,849 $ 20,058 $ — $ (23,808) $ — $ 278,099 __________________________________ (1) Recoveries and translation adjustments.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Pay vs Performance Disclosure
Net earnings (loss)	$ 859,760	$ 1,217,262	$ 412,865

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Aug. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

NATURE OF OPERATIONS AND SUMM_2

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned and majority owned subsidiaries and certain variable interest entities ("VIEs") for which the Company is the primary beneficiary. Intercompany account balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of the Company's consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of net sales and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue recognition, income taxes, carrying value of inventory, acquisitions, goodwill, long-lived assets, derivative instruments and contingencies. Actual results could differ significantly from these estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents
Revenue Recognition	Revenue Recognition and Allowance for Doubtful Accounts Revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration received or expected to be received in exchange for those goods or services. The Company's performance obligations arise from (i) sales of raw materials, steel products, downstream products and construction-related solutions and (ii) installation services performed by its fabrication operations. The shipment of products to customers is considered a fulfillment activity and amounts billed to customers for shipping and freight are included in net sales, and the related costs are included in cost of goods sold. Net sales are presented net of taxes. R evenue related to raw materials, steel products and construction-related solutions in the North America and Europe segments and downstream products in the Europe segment is recognized at a point in time concurrent with the transfer of control, which usually occurs, depending on shipping terms, upon shipment or customer receipt. Revenue related to steel fence posts and other downstream products in the North America segment not discussed below is recognized equal to billing under an available practical expedient. Each fabricated rebar contract sold by the North America segment represents a single performance obligation and revenue is recognized over time. For contracts where the Company provides fabricated rebar and installation services, revenue is recognized over time using an input measure of progress based on contract costs incurred to date compared to total estimated contract costs ("input measure"). This input measure provides a reasonable depiction of the Company’s progress towards satisfaction of the performance obligation as there is a direct relationship between costs incurred by the Company and the transfer of the fabricated rebar and installation services. Revenue from fabricated rebar contracts where the Company does not provide installation services is recognized over time using an output measure of progress based on tons shipped compared to total estimated tons ("output measure"). This output measure provides a reasonable depiction of the transfer of contract value to the customer, as there is a direct relationship between the units shipped by the Company and the transfer of the fabricated rebar. If total estimated costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known. The cumulative effect of revisions to estimates related to net contract revenues, costs to complete or total planned quantity is recorded in the period in which such revisions are identified. The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an asset when revenue is recognized prior to invoicing and a liability when revenue is recognized subsequent to invoicing. Payment terms and conditions vary by contract type, although the Company generally requires customers to pay 30 days after the Company satisfies the performance obligations. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined the contracts do not include a significant financing component. The Company maintains an allowance for doubtful accounts for the accounts receivable we estimate will not be collected based on market conditions, customers' financial condition and other factors. Historically, these allowances have not been material. The Company reviews and sets credit limits for each customer. The Europe segment uses credit insurance to ensure payment in accordance with the terms of sale. Generally, collateral is not required. Approximately 14% and 16% of total receivables at August 31, 2023 and 2022, respectively, were financially assured.
Allowance for Doubtful Accounts	Revenue Recognition and Allowance for Doubtful Accounts Revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration received or expected to be received in exchange for those goods or services. The Company's performance obligations arise from (i) sales of raw materials, steel products, downstream products and construction-related solutions and (ii) installation services performed by its fabrication operations. The shipment of products to customers is considered a fulfillment activity and amounts billed to customers for shipping and freight are included in net sales, and the related costs are included in cost of goods sold. Net sales are presented net of taxes. R evenue related to raw materials, steel products and construction-related solutions in the North America and Europe segments and downstream products in the Europe segment is recognized at a point in time concurrent with the transfer of control, which usually occurs, depending on shipping terms, upon shipment or customer receipt. Revenue related to steel fence posts and other downstream products in the North America segment not discussed below is recognized equal to billing under an available practical expedient. Each fabricated rebar contract sold by the North America segment represents a single performance obligation and revenue is recognized over time. For contracts where the Company provides fabricated rebar and installation services, revenue is recognized over time using an input measure of progress based on contract costs incurred to date compared to total estimated contract costs ("input measure"). This input measure provides a reasonable depiction of the Company’s progress towards satisfaction of the performance obligation as there is a direct relationship between costs incurred by the Company and the transfer of the fabricated rebar and installation services. Revenue from fabricated rebar contracts where the Company does not provide installation services is recognized over time using an output measure of progress based on tons shipped compared to total estimated tons ("output measure"). This output measure provides a reasonable depiction of the transfer of contract value to the customer, as there is a direct relationship between the units shipped by the Company and the transfer of the fabricated rebar. If total estimated costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known. The cumulative effect of revisions to estimates related to net contract revenues, costs to complete or total planned quantity is recorded in the period in which such revisions are identified. The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an asset when revenue is recognized prior to invoicing and a liability when revenue is recognized subsequent to invoicing. Payment terms and conditions vary by contract type, although the Company generally requires customers to pay 30 days after the Company satisfies the performance obligations. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined the contracts do not include a significant financing component. The Company maintains an allowance for doubtful accounts for the accounts receivable we estimate will not be collected based on market conditions, customers' financial condition and other factors. Historically, these allowances have not been material. The Company reviews and sets credit limits for each customer. The Europe segment uses credit insurance to ensure payment in accordance with the terms of sale. Generally, collateral is not required. Approximately 14% and 16% of total receivables at August 31, 2023 and 2022, respectively, were financially assured.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by the weighted average cost method. Adjustments to inventory may be due to changes in price levels, assumptions about market conditions, obsolescence, damage, physical deterioration and other causes. Adjustments required to reduce the carrying value of inventory to net realizable value are recorded as a charge to cost of goods sold within the consolidated statements of earnings. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, utilities, consumable production inputs, maintenance, production, wages and transportation costs. Additionally, the costs of departments that support production, including materials management and quality control, are allocated to inventory.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance is expensed as incurred. Leasehold improvements are amortized over the shorter of their estimated useful lives or the lease term. Depreciation and amortization are recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years The Company evaluates impairment of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For each asset or group of assets held for use with indicators of impairment, the Company compares the sum of the estimated future cash flows generated by the asset or group of assets with its associated net carrying value. If the net carrying value of the asset or group of assets exceeds estimated undiscounted future cash flows, the excess of the net carrying value over estimated fair value is charged to impairment loss. Properties held for sale are reported at the lower of their carrying amount or their estimated sales price, less estimated costs to sell.
Leases	Leases The Company's leases are primarily for real property and equipment. The Company determines if an arrangement is a lease at inception of a contract if the terms state the Company has the right to direct the use of, and obtain substantially all the economic benefits from, a specific asset identified in the contract. The ROU assets represent the Company's right to use the underlying assets for the lease term, and the lease liabilities represent the obligation to make lease payments arising from the leases. The Company's ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments to be made over the lease term. Certain of the Company's lease agreements contain options to extend the lease. The Company evaluates these options on a lease-by-lease basis, and if the Company determines it is reasonably certain to be exercised, the lease term includes the extension. The Company uses its incremental borrowing rate at lease commencement to determine the present value of lease payments, and lease expense is recognized on a straight-line basis over the lease term. The incremental borrowing rate is the rate of interest the Company could borrow on a collateralized basis over a similar term with similar payments. The Company does not include leases with an initial term of twelve months or less in the ROU asset or lease liability balances. Certain of the Company's lease agreements include payments for certain variable costs not determinable upon lease commencement, including mileage, utilities, fuel and inflation adjustments. These variable lease payments are recognized in cost of goods sold and selling, general and administrative ("SG&A") expenses, but are not included in the ROU asset or lease liability balances. The Company's lease agreements do not contain any material residual value guarantees, restrictions or covenants.
Government Assistance	Government Assistance Government assistance, including non-monetary grants, herein collectively referred to as grants, are not recognized until there is reasonable assurance that the Company will comply with the conditions of the grant and the Company will receive the grant. Generally, government grants fall into two categories: grants related to assets and grants related to income. Grants related to assets are government grants for the purchase, construction or other acquisition of long-lived assets. The Company accounts for grants related to assets by deducting the grant in arriving at the carrying amount of the asset on the consolidated balance sheets. Non-monetary grants are recognized at fair value. The Company recognizes the grant in profit or loss over the life of the depreciable asset as a reduction to depreciation expense. Grants related to non-depreciable assets may require the fulfillment of certain obligations and, in such cases, would be recognized in profit or loss over the periods that bear the cost of meeting the obligations. As an example, a grant of land that is conditional upon constructing a building on the site is recognized as a reduction to depreciation expense over the life of the building. Grants related to income are any grants that are not considered grants related to assets, such as grants to compensate for certain expenses. Grants related to income are recognized in profit or loss on a systematic basis upon meeting the recognition criteria specified in the grants and during the periods when the expenses the grants intend to compensate for are incurred. During 2023 and 2022, the Company was awarded $9.5 million and $15.5 million, respectively, in government grants related to income as part of the compensation scheme for energy-intensive sectors and sub-sectors established by the Energy Regulatory Office in Poland (the "Poland Compensation Scheme Act" or "PCSA"). The purpose of the PCSA in each year was to provide aid to energy-intensive companies to offset indirect costs of rising carbon emission rights included in energy costs. The amount of government assistance awarded by the PCSA in each year was dependent upon the Company meeting certain electricity consumption thresholds and the number of other applicants. The government assistance recognized in 2023 and 2022 under the PCSA is not subject to recapture. The PCSA grants are recognized in the Europe segment and were recorded as a reduction to cost of goods sold in the Company's consolidated statements of earnings. During 2023, the Company was awarded $4.3 million in government grants related to income as part of the 2022 Polish state aid program for rising electricity and natural gas prices (the "2022 Energy Aid Program"). The 2022 Energy Aid Program was established by the Polish Ministry of Development and Technology to mitigate the effects of sudden increases in electricity and natural gas prices in Poland for companies who met required energy intensity and sectorial conditions and experienced certain financial metrics in calendar year 2022 compared to the prior year. The full amount of the Company's 2022 Energy Aid Program grant was received in 2023 and is not subject to recapture. The 2022 Energy Aid Program grant was recognized in the Europe segment and recorded as a reduction to cost of goods sold in the Company's consolidated statement of earnings.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and other indefinite-lived intangible assets are tested for impairment annually as of the first day of the Company's fourth quarter, or more frequently if events or circumstances indicate that impairment may be possible. To evaluate goodwill and other indefinite-lived intangible assets for impairment, the Company may use qualitative assessments to determine whether it is more likely than not that the fair value of a reporting unit, including goodwill, or an indefinite-lived intangible asset is less than its carrying amount. The qualitative assessments consider multiple factors, including the current operating environment, historical and future financial performance and industry and market conditions. If an initial qualitative assessment identifies that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is performed. The Company may elect to bypass the qualitative assessment and instead perform a quantitative impairment test to calculate the fair value of the reporting unit in comparison to its associated carrying value. The Company's reporting units represent an operating segment or one level below an operating segment. When performing a quantitative impairment test, the Company estimates the fair value of its reporting units using a weighting of fair values derived from the income and market approaches. Under the income approach, the Company determines the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into account industry and market conditions. The discount rate is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the reporting unit. The market approach estimates fair value based on market multiples of earnings derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is indicated in the amount that the carrying value exceeds the fair value of the reporting unit, not to exceed the goodwill value for the reporting unit.
Contingencies	Contingencies The Company accrues for claims and litigation, including environmental investigation and remediation costs, when they are both probable and the amount can be reasonably estimated. Environmental costs are based upon estimates regarding the sites for which the Company will be responsible, the scope and cost of work to be performed at each site, the portion of costs that will be shared with other parties and the timing of remediation. Where timing and amounts cannot be reasonably determined, a range is estimated and the lower end of the range is recorded.
Stock-Based Compensation	Stock-Based Compensation
Income Taxes	Income Taxes CMC and its U.S. subsidiaries file a consolidated federal income tax return. Deferred income taxes are provided for temporary differences between financial statement and income tax bases of assets and liabilities. The principal differences are described in Note 12, Income Tax. Benefits from income tax credits are reflected currently in earnings. The Company records income tax positions based on a more likely than not threshold that the tax positions will be sustained on examination by the taxing authorities having full knowledge of all relevant information. The Company classifies interest and any statutory penalties recognized on a tax position as income tax expense.
Foreign Currencies	Foreign Currencies The functional currency of the Company's foreign operations is the local currency of each respective country. Translation adjustments are reported as a component of accumulated other comprehensive income or loss. Transactions denominated in currencies other than the functional currency yielded a loss of $12.1 million in 2023,
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Derivatives that are not designated as hedges are adjusted to fair value through net earnings. Changes in the fair value of derivatives that are designated as hedges are recognized depending on the nature of the hedge. In the case of fair value hedges, changes are recognized as an offset against the change in fair value of the hedged balance sheet item. When the derivative is designated as a cash flow hedge and is highly effective, changes are recognized in other comprehensive income. When a derivative instrument is sold, terminated, exercised or expires, the gain or loss is recorded in the consolidated statement of earnings for fair value hedges, and the cumulative unrealized gain or loss, which had been recognized in the statement of comprehensive income, is reclassified to the consolidated statement of earnings for cash flow hedges. Additionally, when hedged items are sold or extinguished, or the anticipated transaction being hedged is no longer expected to occur, the Company recognizes the gain or loss on the designated hedged financial instrument.
Fair Value	Fair Value The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Level 1 represents unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 represents quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable, either directly or indirectly. Level 3 represents valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Recent Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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.

NATURE OF OPERATIONS AND SUMM_3

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Estimated useful lives for depreciation and amortization	Depreciation and amortization are recorded on a straight-line basis over the following estimated useful lives: Buildings 7 to 40 years Land improvements 3 to 25 years Leasehold improvements 3 to 15 years Equipment 3 to 25 years

CHANGES IN BUSINESS (Tables)

CHANGES IN BUSINESS (Tables)	12 Months Ended
	Aug. 31, 2023
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The table below presents the fair values that were allocated to Tensar's assets and liabilities as of the Tensar Acquisition Date: (in thousands) Fair Value Cash and cash equivalents $ 19,551 Accounts receivable 37,741 Inventories 39,462 Prepaid and other current assets 12,528 Defined benefit pension plan 14,620 Property, plant and equipment 85,983 Intangible assets 260,500 Goodwill 186,805 Other noncurrent assets 19,660 Accounts payable (12,134) Accrued expenses and other payables (23,725) Current maturities of long-term debt (3,277) Deferred income taxes (45,055) Other noncurrent liabilities (16,347) Long-term debt (4,312) Total assets acquired and liabilities assumed $ 572,000
Schedule of Pro Forma Information	The resulting tax effects of the business combination are also reflected below. Year Ended August 31, (in thousands) 2022 2021 Pro forma net sales $ 9,064,322 $ 6,957,903 Pro forma net earnings 1,238,174 416,904

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Aug. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) ("AOCI") was comprised of the following: (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2020 $ (87,933) $ (11,334) $ (4,497) $ (103,764) Other comprehensive income (loss) before reclassifications (1) (17,747) 35,492 3,576 21,321 Reclassification for gain (2) — (2,377) — (2,377) Net other comprehensive income (loss) (17,747) 33,115 3,576 18,944 Balance at August 31, 2021 (105,680) 21,781 (921) (84,820) Other comprehensive income (loss) before reclassifications (1) (140,217) 138,634 (5,875) (7,458) Reclassification for gain (2) — (22,173) — (22,173) Net other comprehensive income (loss) (140,217) 116,461 (5,875) (29,631) Balance at August 31, 2022 (245,897) 138,242 (6,796) (114,451) Other comprehensive income (loss) before reclassifications (1) 119,852 6,395 (7,985) 118,262 Reclassification for (gain) loss (2) — (9,380) 1,791 (7,589) Net other comprehensive income (loss) 119,852 (2,985) (6,194) 110,673 Balance at August 31, 2023 $ (126,045) $ 135,257 $ (12,990) $ (3,778) __________________________________ (1) Other comprehensive income before reclassifications from derivatives is presented net of income tax expense of $1.1 million, $33.0 million and $6.7 million for 2023, 2022 and 2021, respectively. Other comprehensive income (loss) before reclassifications from defined benefit pension plans is presented net of income tax expense (benefit) of $(3.9 million), $(2.6 million) and $0.9 million for 2023, 2022 and 2021, respectively. (2) Reclassifications for gains from derivatives included in net earnings are primarily recorded in cost of goods sold in the consolidated statements of earnings and are presented net of income tax expense of $2.2 million, $5.3 million and $0.4 million, for 2023, 2022 and 2021, respectively. Reclassifications for losses from defined benefit pension plans included in net earnings are recorded in SG&A expenses in the consolidated statement of earnings and are presented net of immaterial income tax benefits for all periods presented.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
Information about Assets and Liabilities from Contracts with Customers	The following table provides information about assets and liabilities from contracts with customers: (in thousands) August 31, 2023 August 31, 2022 Contract assets (included in accounts receivable) $ 67,641 $ 73,037 Contract liabilities (included in accrued expenses and other payables) 28,377 27,567

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Aug. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The components of inventories were as follows: (in thousands) August 31, 2023 August 31, 2022 Raw materials $261,619 $ 271,756 Work in process 6,844 9,446 Finished goods 767,119 888,494 Total $ 1,035,582 $ 1,169,696

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Aug. 31, 2023
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, September 1, 2021 $ 71,941 $ 4,390 $ 76,331 Acquisitions 144,118 42,687 186,805 Foreign currency translation — (3,962) (3,962) Balance at August 31, 2022 216,059 43,115 259,174 Acquisitions 135,382 — 135,382 Foreign currency translation — 1,446 1,446 Balance at August 31, 2023 351,441 44,561 396,002 Accumulated impairment: Balance, September 1, 2021 (10,036) (158) (10,194) Foreign currency translation — 29 29 Balance at August 31, 2022 (10,036) (129) (10,165) Foreign currency translation — (16) (16) Balance at August 31, 2023 (10,036) (145) (10,181) Goodwill, net: Balance, September 1, 2021 61,905 4,232 66,137 Acquisitions 144,118 42,687 186,805 Foreign currency translation — (3,933) (3,933) Balance at August 31, 2022 206,023 42,986 249,009 Acquisitions 135,382 — 135,382 Foreign currency translation — 1,430 1,430 Balance at August 31, 2023 $ 341,405 $ 44,416 $ 385,821
Schedule of Indefinite-Lived Intangible Assets	Other indefinite-lived intangible assets consisted of the following: (in thousands) August 31, 2023 August 31, 2022 Trade names $ 54,056 $ 53,633 In-process research and development 2,400 2,400 Non-compete agreements 750 750 Total $ 57,206 $ 56,783
Intangible assets subject to amortization	Other intangible assets subject to amortization are detailed in the following table: August 31, 2023 August 31, 2022 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technologies $ 150,445 $ 25,228 $ 125,217 $ 147,040 $ 6,485 $ 140,555 Customer relationships 74,582 7,606 66,976 53,115 2,116 50,999 Patents 7,203 5,570 1,633 7,203 4,596 2,607 Perpetual lease rights 5,984 910 5,074 3,584 744 2,840 Trade names 3,287 1,129 2,158 3,212 764 2,448 Non-compete agreements 2,300 1,502 798 3,050 1,135 1,915 Other 224 125 99 101 99 2 Total $ 244,025 $ 42,070 $ 201,955 $ 217,305 $ 15,939 $ 201,366
Estimated future amortization expense of intangible assets	Estimated amortization expense for the next five years is as follows: Year Ended August 31, (in thousands) 2024 $ 28,195 2025 26,464 2026 25,250 2027 25,142 2028 23,484

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Aug. 31, 2023
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 consolidated balance sheets: (in thousands) Classification in Consolidated Balance Sheets August 31, 2023 August 31, 2022 Assets: Operating assets Other noncurrent assets $ 160,767 $ 138,937 Finance assets Property, plant and equipment, net 104,537 63,702 Total leased assets $ 265,304 $ 202,639 Liabilities: Operating lease liabilities: Current Accrued expenses and other payables $ 34,445 $ 31,792 Long-term Other noncurrent liabilities 129,800 111,150 Total operating lease liabilities 164,245 142,942 Finance lease liabilities: Current Current maturities of long-term debt and short-term borrowings 28,037 19,340 Long-term Long-term debt 67,433 39,196 Total finance lease liabilities 95,470 58,536 Total lease liabilities $ 259,715 $ 201,478
Lease Cost	The components of lease cost were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Operating lease expense $ 40,093 $ 35,111 $ 32,752 Finance lease expense: Amortization of assets 16,574 13,302 13,050 Interest on lease liabilities 3,642 2,105 2,213 Total finance lease expense 20,216 15,407 15,263 Variable and short-term lease expense 20,810 20,856 20,096 Total lease expense $ 81,119 $ 71,374 $ 68,111 The weighted average remaining lease terms and discount rates for operating and finance leases are presented in the following table: August 31, 2023 August 31, 2022 Weighted average remaining lease term (years): Operating leases 5.6 5.3 Finance leases 4.1 3.4 Weighted average discount rate: Operating leases 4.730 % 4.076 % Finance leases 4.926 % 4.125 %
Cash Flow and Other Information Related to Leases	Cash flow and other information related to leases is included in the following table: Year Ended August 31, (in thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 40,645 $ 35,697 $ 31,686 Operating cash outflows from finance leases 3,642 2,093 2,228 Financing cash outflows from finance leases 22,837 17,821 16,016 ROU assets obtained in exchange for lease obligations: Operating leases $ 55,588 $ 59,035 $ 25,888 Finance leases 59,499 24,333 18,006
Maturity of Operating Lease Liabilities	Future maturities of lease liabilities at August 31, 2023 are presented in the following table: (in thousands) Operating Leases Finance Leases 2024 $ 41,430 $ 32,051 2025 36,446 25,859 2026 31,278 19,394 2027 24,579 16,086 2028 16,449 9,104 Thereafter 41,843 3,239 Total lease payments 192,025 105,733 Less imputed interest (27,780) (10,263) Present value of lease liabilities $ 164,245 $ 95,470
Maturity of Finance Lease Liabilities	Future maturities of lease liabilities at August 31, 2023 are presented in the following table: (in thousands) Operating Leases Finance Leases 2024 $ 41,430 $ 32,051 2025 36,446 25,859 2026 31,278 19,394 2027 24,579 16,086 2028 16,449 9,104 Thereafter 41,843 3,239 Total lease payments 192,025 105,733 Less imputed interest (27,780) (10,263) Present value of lease liabilities $ 164,245 $ 95,470

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	12 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
Long-term debt, including the deferred gain from the termination of the interest rate swaps	Long-term debt was as follows: Weighted Average Interest Rate as of August 31, 2023 Year Ended August 31, (in thousands) 2023 2022 2023 Notes 4.875% $ — $ 330,000 2030 Notes 4.125% 300,000 300,000 2031 Notes 3.875% 300,000 300,000 2032 Notes 4.375% 300,000 300,000 Series 2022 Bonds, due 2047 4.000% 145,060 145,060 Poland Term Loan — — 32,439 Short-term borrowings (1) 8,419 26,390 Other 4.547% 16,042 21,278 Finance leases 4.926% 95,470 58,536 Total debt 1,164,991 1,513,703 Less unamortized debt issuance costs (14,840) (16,496) Plus unamortized bond premium 4,646 4,838 Total amounts outstanding 1,154,797 1,502,045 Less current maturities of long-term debt and short-term borrowings (40,513) (388,796) Long-term debt $ 1,114,284 $ 1,113,249 __________________________________ (1) The weighted average interest rate of short-term borrowings was 7.800% and 7.260% as of August 31, 2023 and 2022, respectively.
Scheduled maturities of the Company's long-term debt	The scheduled maturities of the Company's long-term debt, excluding obligations related to finance leases, are included in the table below. See Note 7, Leases, for scheduled maturities of finance leases. Year Ended August 31, (in thousands) 2024 $ 4,057 2025 1,877 2026 1,789 2027 1,782 2028 1,795 Thereafter 1,049,802 Total long-term debt, excluding finance leases 1,061,102 Less unamortized debt issuance costs (14,840) Plus unamortized bond premium 4,646 Total long-term debt outstanding, excluding finance leases $ 1,050,908

NEW MARKETS TAX CREDIT TRANSA_2

NEW MARKETS TAX CREDIT TRANSACTIONS New Markets Tax Credit Transactions (Tables)	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of New Markets Tax Credit Transactions	The following table summarizes the key terms and conditions for each of the three NMTC transactions ($ in millions): Project USBCDC Capital Contribution Commonwealth Loan Commonwealth Loan Rate / Maturity Investment Fund(s) QEI to CDE CDE Loan Micro mill $17.7 $35.3 1.08% / December 24, 2045 USBCDC Investment Fund 156, LLC $51.5 $50.7 Spooler 6.7 14.0 1.39% / July 26, 2042 Twain Investment Fund 249, LLC 20.0 19.4 T-post shop 5.0 10.4 1.16% / March 23, 2047 Twain Investment Fund 219, LLC 15.0 14.7

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Aug. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity Contract Commitments	The following table provides information regarding the Company's commodity contract commitments as of August 31, 2023: Commodity Position Total Aluminum Long 2,850 MT Aluminum Short 1,400 MT Copper Long 147 MT Copper Short 8,459 MT Electricity Long 3,312,000 MW(h) Natural Gas Long 5,270,500 MMBtu __________________________________ MT = Metric ton MW(h) = Megawatt hour MMBtu = Metric Million British thermal unit The following table summarizes activities related to the Company's derivatives not designated as cash flow hedging instruments recognized in the consolidated statements of earnings. All other activity related to the Company's derivatives not designated as cash flow hedging instruments was immaterial for the periods presented. Year Ended August 31, Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Primary Location 2023 2022 2021 Commodity Cost of goods sold $ (3,028) $ 15,862 $ (18,035) Foreign exchange SG&A expenses 12,265 (6,547) (3,674) The following table summarizes activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the consolidated statements of comprehensive income and consolidated statements of earnings, respectively. Amounts presented do not include the effects of foreign currency translation adjustments. Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Other Comprehensive Income, Net of Income Taxes (in thousands) Amount of Gain Reclassified from AOCI into Earnings on Derivatives (in thousands) Year Ended August 31, Year Ended August 31, 2023 2022 2021 Primary Location 2023 2022 2021 Commodity $ 6,367 $ 138,534 $ 35,392 Cost of goods sold $ 11,325 $ 27,267 $ 2,378 Foreign exchange 28 100 100 SG&A expenses 244 244 555
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table summarizes the location and fair value amounts of the Company's derivative instruments reported in the consolidated balance sheets: (in thousands) Primary Location August 31, 2023 August 31, 2022 Derivative assets: Commodity Prepaid and other current assets $ 11,427 $ 26,180 Commodity Other noncurrent assets 184,261 134,667 Foreign exchange Prepaid and other current assets 1,898 1,296 Derivative liabilities: Commodity Accrued expenses and other payables $ 2,983 $ 1,110 Commodity Other noncurrent liabilities 1,085 150 Foreign exchange Accrued expenses and other payables 2,566 3,126

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Aug. 31, 2023
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) Total Quoted Prices in Significant Other Significant As of August 31, 2023: Assets: Investment deposit accounts (1) $ 508,227 $ 508,227 $ — $ — Commodity derivative assets (2) 195,689 1,264 — 194,425 Foreign exchange derivative assets (2) 1,898 — 1,898 — Liabilities: Commodity derivative liabilities (2) 4,068 4,068 — — Foreign exchange derivative liabilities (2) 2,566 — 2,566 — As of August 31, 2022: Assets: Investment deposit accounts (1) $ 572,384 $ 572,384 $ — $ — Commodity derivative assets (2) 160,847 17,347 — 143,500 Foreign exchange derivative assets (2) 1,296 — 1,296 — Liabilities: Commodity derivative liabilities (2) 1,260 1,260 — — Foreign exchange derivative liabilities (2) 3,126 — 3,126 — __________________________________ (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 the 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. As of August 31, 2022, the Company had one Level 3 commodity derivative. The Company entered into its second and third Level 3 commodity derivatives in September 2022 and January 2023, respectively, with the same counterparty as the first Level 3 commodity derivative. Both the second and third Level 3 commodity derivatives will begin to settle in January 2025. The fair value estimate of the Level 3 commodity derivatives are based on internally developed discounted cash flow models primarily utilizing unobservable inputs in which there is little or no market data. The Company forecasts future energy rates using a range of historical prices (the "floating rate"). The floating rate is the only significant unobservable input used in the Company's discounted cash flow models. Significantly higher or lower floating rates could have resulted in a material difference in our fair value measurement. The following table summarizes the floating rates used to measure the fair value of the Level 3 commodity derivatives during 2023 and 2022, which are applied uniformly across each of our Level 3 commodity derivatives: Floating Rate (PLN) Year Ended August 31, Low High Average 2023 480 855 630 2022 460 1,299 717
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 derivatives recognized in the consolidated statements of comprehensive income. Amounts presented are before income taxes. The fluctuation in energy rates over time may cause volatility in the fair value estimate and is the primary reason for the unrealized gains in other comprehensive income in 2023, 2022 and 2021. (in thousands) Level 3 Commodity Derivatives Balance at September 1, 2020 $ (15,007) Unrealized holding gain (1) 43,798 Reclassification for gain included in net earnings (2) (2,378) Balance at August 31, 2021 26,413 Unrealized holding gain (1) 138,760 Reclassification for gain included in net earnings (2) (21,673) Balance at August 31, 2022 143,500 Unrealized holding gain (1) 62,706 Reclassification for gain included in net earnings (2) (11,781) Balance at August 31, 2023 $ 194,425 __________________________________ (1) Unrealized holding gains, net of foreign currency translation, less amounts reclassified are included in net unrealized holding gain (reclassification for realized gain) on derivatives in the consolidated statements of comprehensive income. (2) Gains included in net earnings are recorded in cost of goods sold in the consolidated statements of earnings.

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Components of earnings from continuing operations before income taxes (benefit)	The components of earnings before income taxes were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 United States $ 1,095,099 $ 1,197,769 $ 413,616 Foreign 26,868 317,378 120,402 Total $ 1,121,967 $ 1,515,147 $ 534,018
Income taxes (benefit) included in the consolidated statements of operations	The income taxes (benefit) included in the consolidated statements of earnings were as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Current: United States $ 168,399 $ 122,334 $ 113,696 Foreign 6,089 63,912 25,642 State and local 32,916 20,228 19,458 Current taxes 207,404 206,474 158,796 Deferred: United States 46,008 81,162 (10,563) Foreign (847) (3,388) (2,512) State and local 9,642 13,637 (24,568) Deferred taxes 54,803 91,411 (37,643) Total income taxes $ 262,207 $ 297,885 $ 121,153
Reconciliation of the federal statutory rate to effective tax rate from continuing operations	A reconciliation of the federal statutory rate to the Company's effective income tax rate, including material items impacting the effective income tax rate, is as follows: Year Ended August 31, (in thousands) 2023 2022 2021 Income tax expense at statutory rate $ 235,613 $ 318,181 $ 112,144 State and local taxes (1)(2) 33,621 26,753 (3,838) Research and development credit (2) (7,986) (13,102) (1,289) Foreign tax impairment on valuation of subsidiaries (3) (7,334) — (29,866) Change in valuation allowance 6,471 (447) 37,092 Global intangible low-taxed income (4)(5) (1,967) 685 17,263 Capital loss (6) — (34,736) — Nontaxable foreign interest (3) — 3 (14,617) Other 3,789 548 4,264 Income tax expense $ 262,207 $ 297,885 $ 121,153 Effective income tax rate 23.4 % 19.7 % 22.7 % __________________________________ (1) State and local taxes in 2021 includes a $19.9 million benefit related to the release of certain state valuation allowances. (2) 2023 and 2022 include impacts of uncertain tax positions. (3) Fully offset by a valuation allowance. (4) Amounts are net of adjustments resulting from differences between prior year estimates and amounts included in tax returns. (5) 2021 includes the tax effect of a gain recognized in connection with a global tax restructuring. (6) Resulted from a tax restructuring transaction.
Tax effects of significant temporary differences giving rise to deferred tax assets and liabilities	The income tax effects of significant temporary differences giving rise to deferred tax assets and liabilities were as follows: August 31, (in thousands) 2023 2022 Deferred tax assets: Net operating losses and credits $ 298,624 $ 300,787 Capitalized research and development 45,669 — ROU operating lease liabilities 39,984 33,398 Deferred compensation and employee benefits 33,491 39,095 Reserves and other accrued expenses 16,510 11,730 Other 21,750 17,253 Total deferred tax assets 456,028 402,263 Valuation allowance for deferred tax assets (280,463) (268,547) Deferred tax assets, net 175,565 133,716 Deferred tax liabilities: Property, plant and equipment (351,900) (261,638) Intangible assets (44,168) (48,558) ROU operating lease assets (38,801) (32,444) Derivatives (35,992) (27,324) Other (11,453) (14,054) Total deferred tax liabilities (482,314) (384,018) Net deferred tax liabilities $ (306,749) $ (250,302)
Reconciliation of the beginning and ending amounts of unrecognized tax benefits	A reconciliation of the beginning and ending amounts of unrecognized income tax benefits is as follows: (in thousands) 2023 2022 2021 Balance at September 1, $ 29,747 $ 5,531 $ 8,652 Change for tax positions of current year 14,792 17,461 — Change for tax positions of prior years (374) 6,755 — Reductions due to lapse of statute of limitations — — (3,121) Balance at August 31, (1) $ 44,165 $ 29,747 $ 5,531 __________________________________ (1) The full balance of unrecognized income tax benefits in each year, if recognized, would have impacted the Company’s effective income tax rate at the end of each respective year.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Aug. 31, 2023
Share-Based Payment Arrangement [Abstract]
Total awards granted	The following table summarizes the total awards granted: Restricted Stock Performance 2023 grants 633,898 335,746 2022 grants 652,951 328,734 2021 grants 847,872 406,098
Restricted stock units and performance stock units, excluding the cash component	Information for restricted stock units and performance stock units is as follows: Number Weighted Average Outstanding as of August 31, 2020 2,245,637 $ 18.79 Granted 1,519,153 20.49 Vested (1,451,846) 17.62 Forfeited (122,149) 20.19 Outstanding as of August 31, 2021 2,190,795 20.67 Granted 1,466,628 28.16 Vested (1,617,943) 18.84 Forfeited (45,850) 23.57 Outstanding as of August 31, 2022 1,993,630 27.59 Granted 1,438,695 36.88 Vested (1,621,002) 25.32 Forfeited (33,732) 36.65 Outstanding as of August 31, 2023 1,777,591 $ 37.01
Yearly activity of the stock purchase plan	Yearly activity of the stock purchase plan was as follows: Year Ended August 31, 2023 2022 2021 Shares subscribed 272,980 279,370 347,510 Price per share $ 41.31 $ 29.90 $ 17.14 Shares purchased 248,080 313,790 292,690 Price per share $ 29.90 $ 17.14 $ 18.80 Shares available for future issuance 745,754

EMPLOYEES' RETIREMENT PLANS EMP

EMPLOYEES' RETIREMENT PLANS EMPLOYEES' RETIREMENT PLANS (Tables)	12 Months Ended
	Aug. 31, 2023
Retirement Benefits [Abstract]
Changes in Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	The following tables include a reconciliation of the beginning and ending balances of the pension benefit obligation and the fair value of plan assets resulting from the U.K. Pension Plan and the U.S. Pension Plan and the related amounts recognized in the Company’s consolidated balance sheets as of August 31, 2023 and 2022: U.K. Pension Plan (in thousands) 2023 2022 Benefit obligation at beginning of year $ 52,042 $ — Acquisition — 68,966 Interest cost 2,261 635 Actuarial gain (5,354) (11,107) Benefits paid (2,529) (942) Foreign currency translation 4,480 (5,510) Benefit obligation at end of year $ 50,900 $ 52,042 Fair value of plan assets at beginning of year $ 60,454 $ — Acquisition — 83,586 Actual loss on plan assets (13,533) (15,718) Employer contributions 297 73 Benefits paid (2,529) (942) Foreign currency translation 4,833 (6,545) Fair value of plan assets at end of year $ 49,522 $ 60,454 Funded status at end of year (net asset (liability) recognized in the consolidated balance sheets as of August 31,) $ (1,378) $ 8,412 Amounts recognized in AOCI as of August 31, Net actuarial loss $ 16,477 $ 5,666 U.S. Pension Plan (in thousands) 2023 2022 Benefit obligation at beginning of year $ 26,568 $ 33,687 Interest cost — 709 Actuarial gain (47) (6,010) Benefits paid (466) (1,818) Settlement (26,055) — Benefit obligation at end of year $ — $ 26,568 Fair value of plan assets at beginning of year $ 24,440 $ 34,126 Actuarial gain (47) — Actual loss on plan assets (1,966) (7,407) Administrative expenses — (461) Employer contributions 4,094 — Benefits paid (466) (1,818) Settlement (26,055) — Fair value of plan assets at end of year $ — $ 24,440 Funded status at end of year (net liability recognized in the consolidated balance sheets as of August 31,) $ — $ (2,128) Amounts recognized in AOCI as of August 31, Net actuarial loss $ — $ 2,278
Schedule of Net Periodic Benefit Costs	Components of net periodic benefit costs (gains) and other supplemental information are detailed below: U.K. Pension Plan Year Ended August 31, (in thousands) 2023 2022 Interest cost $ 2,261 $ 635 Expected return on plan assets (2,589) (1,067) Total net periodic benefit gain $ (328) $ (432) Other changes in plan assets and benefit obligations recognized in other comprehensive income Net actuarial loss arising during measurement period $ 10,811 $ 5,666 U.S. Pension Plan Year Ended August 31, (in thousands) 2023 2022 2021 Expected administrative expenses $ — $ 50 $ 290 Interest cost — 709 724 Expected return on plan assets — (1,579) (1,493) Settlement 4,245 — — Total net periodic benefit (gain) cost $ 4,245 $ (820) $ (479) Other changes in plan assets and benefit obligations recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ (2,278) $ 3,388 $ (4,344)
Schedule of Weighted-average Assumptions Used	Weighted average assumptions used to determine benefit obligations are detailed below: U.K. Pension Plan U.S. Pension Plan 2023 2022 2022 Effective discount rate for benefit obligations 5.3 % 4.3 % 4.7 % Weighted average assumptions used to determine net periodic benefit cost are detailed below: U.K Pension Plan 2023 2022 Effective rate for interest on benefit obligations 4.3 % 2.9 % Expected long-term rate of return 4.6 % 4.0 % U.S. Pension Plan 2022 2021 Effective rate for interest on benefit obligations 2.2 % 2.1 % Expected long-term rate of return 5.0 % 5.0 %
Schedule of Allocation of Plan Assets	The U.K. Pension Plan's weighted average target allocation ranges and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories, are detailed below: Pension Assets Target Percent 2023 2022 Fixed income securities 85.0% to 90.0% 88.2% 71.4% Equity securities — to 5.0 — 12.4 Cash and other 10.0 to 15.0 11.8 16.2 Total 100% 100% finance markets. Fair Value at Measurement Date Using (in thousands) Total Quoted Prices in Significant Other Significant As of August 31, 2023: Fixed income securities $ 43,654 $ — $ 40,497 $ 3,157 Cash and other 5,868 376 5,356 136 Fair value of U.K. Pension Plan assets $ 49,522 As of August 31, 2022: Fixed income securities $ 43,160 $ — $ 35,849 $ 7,311 Equity securities 7,514 — 7,514 — Cash and other 9,780 530 7,676 1,574 Fair value of U.K. Pension Plan assets $ 60,454 The changes in U.K. Pension Plan Level 3 assets related to actual return on plan assets, sales, transfers and foreign currency translation were immaterial from the Tensar Acquisition Date to August 31, 2022. The following table provides a reconciliation of U.K. Pension Plan Level 3 assets from August 31, 2022 to August 31, 2023: (in thousands) Level 3 Plan Assets Balance at August 31, 2022 $ 8,885 Sales (4,997) Actual return on plan assets: Assets held as of the reporting date 134 Assets sold during the year 256 Transfers out of Level 3 (1,541) Foreign currency translation 556 Balance at August 31, 2023 $ 3,293 The following table sets forth the fair value of the plan assets by asset class for the U.S. Pension Plan as of the August 31, 2022 measurement date. All securities were traded on a national securities exchange and therefore were Level 1 assets in the fair value hierarchy. (in thousands) August 31, 2022 Fixed income securities $ 23,958 Cash and other 482 Fair value of U.S. Pension Plan assets $ 24,440
Schedule of Future Pension Benefit Payments	The following table provides the estimated aggregate pension benefit payments that are payable from the U.K Pension Plan to participants in future years: (in thousands) U.K. Pension Plan 2024 $ 2,697 2025 2,764 2026 2,834 2027 2,905 2028 2,977 2029 through 2033 16,041

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
Calculations of basic and diluted earnings per share from continuing operations	The calculations of basic and diluted EPS were as follows: Year Ended August 31, (in thousands, except share and per share data) 2023 2022 2021 Net earnings $ 859,760 $ 1,217,262 $ 412,865 Average basic shares outstanding 117,077,703 120,648,090 120,338,357 Effect of dilutive securities 1,528,568 1,724,296 1,645,140 Average diluted shares outstanding 118,606,271 122,372,386 121,983,497 Earnings per share: Basic $ 7.34 $ 10.09 $ 3.43 Diluted 7.25 9.95 3.38

ACCRUED EXPENSES AND OTHER PA_2

ACCRUED EXPENSES AND OTHER PAYABLES (Tables)	12 Months Ended
	Aug. 31, 2023
Payables and Accruals [Abstract]
Significant accrued expenses and other payables	Significant accrued expenses and other payables were as follows: Year Ended August 31, (in thousands) 2023 2022 Salaries and incentive compensation $ 133,242 $ 187,586 Worker's compensation and general liability insurance 41,512 40,529 Taxes other than income taxes 39,433 72,874 Utilities 20,695 28,063

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
Summary of certain financial information from continuing operations by reportable segment	The following table summarizes certain financial information by reportable segment and Corporate and Other: (in thousands) North America Europe Corporate and Other Total 2023 Net sales $ 7,347,020 $ 1,416,704 $ 35,809 $ 8,799,533 Adjusted EBITDA 1,454,754 61,353 (131,403) 1,384,704 Interest expense (1) 116,650 1,978 (78,501) 40,127 Capital expenditures 548,218 45,295 13,152 606,665 Depreciation and amortization 170,266 39,457 9,107 218,830 Asset impairments 3,733 47 — 3,780 Total assets 5,006,458 1,096,153 536,483 6,639,094 2022 Net sales $ 7,298,632 $ 1,621,642 $ (6,793) $ 8,913,481 Adjusted EBITDA 1,553,858 346,051 (154,103) 1,745,806 Interest expense (1) 26,798 3,819 20,092 50,709 Capital expenditures 415,157 27,783 7,048 449,988 Depreciation and amortization 135,322 31,250 8,452 175,024 Asset impairments 4,915 11 — 4,926 Total assets 4,467,314 1,056,101 713,612 6,237,027 2021 Net sales $ 5,670,976 $ 1,049,059 $ 9,725 $ 6,729,760 Adjusted EBITDA 746,594 148,258 (140,568) 754,284 Interest expense (1) 25,131 476 26,297 51,904 Capital expenditures 134,932 44,002 5,231 184,165 Depreciation and amortization 132,192 27,516 7,905 167,613 Asset impairments 6,360 424 — 6,784 Total assets 3,221,465 729,766 687,440 4,638,671 __________________________________ (1) Includes intercompany interest expense in the segments, which is eliminated within Corporate and Other.
Reconciliations of earnings from continuing operations to adjusted operating profit	The following table presents a reconciliation of earnings to adjusted EBITDA: Year Ended August 31, (in thousands) 2023 2022 2021 Net earnings $ 859,760 $ 1,217,262 $ 412,865 Interest expense 40,127 50,709 51,904 Income taxes 262,207 297,885 121,153 Depreciation and amortization 218,830 175,024 167,613 Asset impairments 3,780 4,926 6,784 Amortization of acquired unfavorable contract backlog — — (6,035) Adjusted EBITDA $ 1,384,704 $ 1,745,806 $ 754,284
External net sales from continuing operations by geographic area	Year Ended August 31, (in thousands) 2023 2022 2021 Geographic area: United States $ 6,894,990 $ 6,793,023 $ 5,295,447 Poland 941,806 1,078,986 793,075 China 217,779 246,679 156,101 Other 744,958 794,793 485,137 Net sales $ 8,799,533 $ 8,913,481 $ 6,729,760
Net sales by major product	The following tables display revenue by reportable segment and Corporate and Other from external customers, disaggregated by major product: Year Ended August 31, 2023 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,322,781 $ 20,034 $ — $ 1,342,815 Steel products 2,785,266 1,068,946 — 3,854,212 Downstream products 2,517,908 200,196 — 2,718,104 Construction-related solutions 587,573 79,836 — 667,409 Other (1) 132,651 39,649 44,693 216,993 Net sales from external customers 7,346,179 1,408,661 44,693 8,799,533 Intersegment net sales, eliminated on consolidation 841 8,043 (8,884) — Net sales $ 7,347,020 $ 1,416,704 $ 35,809 $ 8,799,533 _______________________________ (1) Other revenue during the year ended August 31, 2023 includes $17.7 million derived from the Company's NMTC transactions. See Note 9, New Markets Tax Credit Transactions, for further information. Year Ended August 31, 2022 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,504,107 $ 25,259 $ — $ 1,529,366 Steel products 2,955,121 1,235,691 — 4,190,812 Downstream products 2,245,734 292,136 — 2,537,870 Construction-related solutions 453,517 27,279 — 480,796 Other 138,164 39,206 (2,733) 174,637 Net sales from external customers 7,296,643 1,619,571 (2,733) 8,913,481 Intersegment net sales, eliminated on consolidation 1,989 2,071 (4,060) — Net sales $ 7,298,632 $ 1,621,642 $ (6,793) $ 8,913,481 Year Ended August 31, 2021 (in thousands) North America Europe Corporate and Other Total Major product: Raw materials $ 1,162,997 $ 19,841 $ — $ 1,182,838 Steel products 2,289,975 808,662 — 3,098,637 Downstream products 1,814,192 192,175 — 2,006,367 Construction-related solutions 289,644 — — 289,644 Other 114,168 26,567 11,539 152,274 Net sales from external customers 5,670,976 1,047,245 11,539 6,729,760 Intersegment net sales, eliminated on consolidation — 1,814 (1,814) — Net sales $ 5,670,976 $ 1,049,059 $ 9,725 $ 6,729,760
Long-lived assets by geographic area	The following table presents long-lived assets, net of accumulated depreciation and amortization, by geographic area: August 31, (in thousands) 2023 2022 2021 Geographic area: United States $ 2,343,606 $ 1,858,269 $ 1,473,745 Poland 209,966 180,350 225,582 Other 39,704 35,199 23 Total long-lived assets, net $ 2,593,276 $ 2,073,818 $ 1,699,350

NATURE OF OPERATIONS AND SUMM_4

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2023 USD ($)	Aug. 31, 2023 USD ($) segments	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Number of business segments | segments		2
Asset impairments	$ 3,500	$ 3,780	$ 4,926	$ 6,784
Proceeds From Government Grants Related To Income		9,500	15,500
Realized and unrealized gain (loss) on investment and foreign currency		12,100	$ 9,600
West Virginia Economic Development Authority
Property, Plant and Equipment [Line Items]
Agreement For Performance Based Principal Reduction Loan		75,000
Proceeds From Performance Based Principal Reduction Loan		5,000
Energy Aid Program, 2022
Property, Plant and Equipment [Line Items]
Proceeds From Government Grants Related To Income		$ 4,300
Receivables secured by credit insurance or letters of credit
Property, Plant and Equipment [Line Items]
Percentage of accounts receivable secured by credit insurance or letters of credit	14%	14%	16%

NATURE OF OPERATIONS AND SUMM_5

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Estimated Useful Lives of Property, Plant and Equipment) (Details)	Aug. 31, 2023
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years

CHANGES IN BUSINESS - Narrative

CHANGES IN BUSINESS - Narrative (Details) - USD ($) $ in Thousands			4 Months Ended	12 Months Ended
	Apr. 25, 2022	Dec. 28, 2021	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments to acquire businesses, net of cash acquired				$ 234,717	$ 552,449	$ 1,888
Cost of goods and services sold				6,987,618	7,057,085	5,623,903
Amortization expense for intangible assets				25,900	10,000	$ 2,100
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]						Costs and Expenses
Net earnings (loss)				$ 859,760	1,217,262	$ 412,865
Tensar
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition and integration expense					8,700
Payments to acquire businesses, net of cash acquired	$ 550,000
Amortization expense for intangible assets					(8,100)	(12,400)
Cash and cash equivalents	$ 19,551
Revenues			$ 102,100
Net earnings (loss)			$ 3,200
Tensar | Revision of Prior Period, Adjustment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition and integration expense					1,000
Cost of goods and services sold					(8,700)
Rancho Cucamonga Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Facility closure costs						$ 13,800
Proceeds from sale of assets associated with facilities		$ 313,000
Payments to acquire machinery and equipment					$ 22,000

CHANGES IN BUSINESS - Assets Ac

CHANGES IN BUSINESS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Apr. 25, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 385,821	$ 249,009		$ 66,137
Tensar
Business Acquisition [Line Items]
Cash and cash equivalents			$ 19,551
Accounts receivable			37,741
Inventories			39,462
Prepaid and other current assets			12,528
Defined benefit pension plan			14,620
Property, plant and equipment			85,983
Intangible assets			260,500
Goodwill			186,805
Other noncurrent assets			19,660
Accounts payable			(12,134)
Accrued expenses and other payables			23,725
Current maturities of long-term debt			3,277
Deferred income taxes			45,055
Other noncurrent liabilities			(16,347)
Long-term debt			4,312
Total assets acquired and liabilities assumed			$ 572,000

CHANGES IN BUSINESS - Financial

CHANGES IN BUSINESS - Financial Results and Pro Forma Information (Details) - Tensar - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Pro forma net sales	$ 9,064,322	$ 6,957,903
Pro forma net earnings	$ 1,238,174	$ 416,904

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	$ (114,451)	$ (84,820)	$ (103,764)
Other comprehensive income (loss) before reclassifications(1)	118,262	(7,458)	21,321
Reclassification for gain(2)	(7,589)	(22,173)	(2,377)
Total other comprehensive income (loss), net of income taxes	110,673	(29,631)	18,944
Balance	(3,778)	(114,451)	(84,820)
Other comprehensive income (loss), net unrealized holding gain, tax	1,100	33,000	6,700
Other comprehensive (income) loss, defined benefit plan, tax	(3,900)	(2,600)	900
Other comprehensive income (loss), derivative, after reclassification, tax	2,200	5,300	400
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(245,897)	(105,680)	(87,933)
Other comprehensive income (loss) before reclassifications(1)	119,852	(140,217)	(17,747)
Reclassification for gain(2)	0	0	0
Total other comprehensive income (loss), net of income taxes	119,852	(140,217)	(17,747)
Balance	(126,045)	(245,897)	(105,680)
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	138,242	21,781	(11,334)
Other comprehensive income (loss) before reclassifications(1)	6,395	138,634	35,492
Reclassification for gain(2)	(9,380)	(22,173)	(2,377)
Total other comprehensive income (loss), net of income taxes	(2,985)	116,461	33,115
Balance	135,257	138,242	21,781
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(6,796)	(921)	(4,497)
Other comprehensive income (loss) before reclassifications(1)	(7,985)	(5,875)	3,576
Reclassification for gain(2)	1,791	0	0
Total other comprehensive income (loss), net of income taxes	(6,194)	(5,875)	3,576
Balance	$ (12,990)	$ (6,796)	$ (921)

REVENUE RECOGNITION - Revenue R

REVENUE RECOGNITION - Revenue Recognition Method (Details) - North America Segment - Recognized over Time	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Fabricated Product and Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	7%	8%	10%
Fabricated Product without Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	11%	9%	9%

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets (included in accounts receivable)	$ 67,641	$ 73,037
Contract liabilities (included in accrued expenses and other payables)	$ 28,377	$ 27,567

REVENUE RECOGNITION - Remaining

REVENUE RECOGNITION - Remaining Performance Obligations (Details) $ in Millions	Aug. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 920.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (percent)	80%
Remaining performance obligation, period of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period of satisfaction

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 261,619	$ 271,756
Inventory, Work in Process, Gross	6,844	9,446
Inventory, Finished Goods, Net of Reserves	767,119	888,494
Inventory, Net	1,035,582	1,169,696
Write-down of inventory	$ 11,286	$ 464	$ 384

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Changes in the Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Goodwill [Line Items]
Goodwill, beginning	$ 259,174	$ 76,331
Foreign currency translation	1,446	(3,962)
Goodwill, ending	396,002	259,174
Goodwill, Acquired During Period	135,382	186,805
Accumulated impairment loss, beginning	(10,165)	(10,194)
Foreign currency translation	(16)	29
Accumulated impairment loss, ending	(10,181)	(10,165)
Goodwill, net	385,821	249,009	$ 66,137
Foreign currency translation	1,430	(3,933)
North America
Goodwill [Line Items]
Goodwill, beginning	216,059	71,941
Foreign currency translation	0	0
Goodwill, ending	351,441	216,059
Goodwill, Acquired During Period	135,382	144,118
Accumulated impairment loss, beginning	(10,036)	(10,036)
Foreign currency translation	0	0
Accumulated impairment loss, ending	(10,036)	(10,036)
Goodwill, net	341,405	206,023	61,905
Foreign currency translation	0	0
Europe
Goodwill [Line Items]
Goodwill, beginning	43,115	4,390
Foreign currency translation	1,446	(3,962)
Goodwill, ending	44,561	43,115
Goodwill, Acquired During Period	0	42,687
Accumulated impairment loss, beginning	(129)	(158)
Foreign currency translation	(16)	29
Accumulated impairment loss, ending	(145)	(129)
Goodwill, net	44,416	42,986	$ 4,232
Foreign currency translation	$ 1,430	$ (3,933)

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Intangible Assets) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 244,025	$ 217,305
Accumulated Amortization	42,070	15,939
Net	201,955	201,366
Developed technologies | Tensar
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	150,445	147,040
Accumulated Amortization	25,228	6,485
Net	125,217	140,555
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	74,582	53,115
Accumulated Amortization	7,606	2,116
Net	66,976	50,999
Perpetual lease rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,984	3,584
Accumulated Amortization	910	744
Net	5,074	2,840
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,203	7,203
Accumulated Amortization	5,570	4,596
Net	1,633	2,607
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,287	3,212
Accumulated Amortization	1,129	764
Net	2,158	2,448
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,300	3,050
Accumulated Amortization	1,502	1,135
Net	798	1,915
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	224	101
Accumulated Amortization	125	99
Net	$ 99	$ 2

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 25, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Goodwill [Line Items]
Goodwill		$ 385,821	$ 249,009	$ 66,137
Amortization expense for intangible assets		25,900	10,000	2,100
Indefinite-lived intangible assets acquired		57,100
Indefinite-lived intangible assets, tested for impairment		53,800
Three Qualitative Reporting Units
Goodwill [Line Items]
Goodwill		49,800
Three Quantitative Reporting units
Goodwill [Line Items]
Goodwill		292,300
Tensar
Goodwill [Line Items]
Goodwill	$ 186,805
Amortization expense for intangible assets			(8,100)	$ (12,400)
Indefinite-lived intangible assets acquired		57,206	56,783
Cost of goods sold
Goodwill [Line Items]
Amortization expense for intangible assets		18,700	6,400
SG&A expenses
Goodwill [Line Items]
Amortization expense for intangible assets		$ 7,200	$ 3,600
Customer Relationships | Tendon
Goodwill [Line Items]
Finite-Lived Intangible Assets Acquired	8,900
Customer Relationships | EDSCO
Goodwill [Line Items]
Finite-Lived Intangible Assets Acquired	$ 12,000

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Indefinite Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Acquired Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	$ 57,100
Tensar
Acquired Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	57,206	$ 56,783
Trade names | Tensar
Acquired Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	54,056	53,633
In-process research and development | Tensar
Acquired Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	2,400	2,400
Non-Compete Agreements | Tensar
Acquired Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	$ 750	$ 750

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Future Amortization Expense) (Details) $ in Thousands	Aug. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 28,195
2025	26,464
2026	25,250
2027	25,142
2028	$ 23,484

Leases, Balance Sheet Component

Leases, Balance Sheet Components (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Assets:
Operating assets	$ 160,767	$ 138,937
Finance assets	104,537	63,702
Total leased assets	265,304	202,639
Operating lease liabilities:
Current	34,445	31,792
Long-term	129,800	111,150
Total operating lease liabilities	164,245	142,942
Finance lease liabilities:
Current	28,037	19,340
Long-term	67,433	39,196
Total finance lease liabilities	95,470	58,536
Total lease liabilities	$ 259,715	$ 201,478
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other payables	Accrued expenses and other payables
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Current Maturities	Long-Term Debt, Current Maturities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt

Leases, Lease Cost (Details)

Leases, Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Operating Lease, Cost	$ 40,093	$ 35,111	$ 32,752
Finance lease expense:
Amortization of assets	16,574	13,302	13,050
Interest on lease liabilities	3,642	2,105	2,213
Total finance lease expense	20,216	15,407	15,263
Variable and short-term lease expense	20,810	20,856	20,096
Total lease expense	$ 81,119	$ 71,374	$ 68,111

Leases, Weighted-average Lease

Leases, Weighted-average Lease Terms and Discount Rates (Details)	Aug. 31, 2023	Aug. 31, 2022
Leases [Abstract]
Operating leases, remaining term	5 years 7 months 6 days	5 years 3 months 18 days
Finance leases, remaining term	4 years 1 month 6 days	3 years 4 months 24 days
Operating leases, weighted average discount rate	4.73%	4.076%
Finance leases, weighted average discount rate		4.125%

Leases, Cash Flow and Other Inf

Leases, Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 40,645	$ 35,697	$ 31,686
Operating cash outflows from finance leases	3,642	2,093	2,228
Financing cash outflows from finance leases	22,837	17,821	16,016
ROU assets obtained in exchange for lease obligations:
Operating leases	55,588	59,035	25,888
Finance leases	$ 59,499	$ 24,333	$ 18,006

Leases, Maturity of Lease Liabi

Leases, Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Operating Leases
2024	$ 41,430
2025	36,446
2026	31,278
2027	24,579
2028	16,449
Thereafter	41,843
Total lease payments	192,025
Less imputed interest	(27,780)
Total operating lease liabilities	164,245	$ 142,942
Finance Leases
2024	32,051
2025	25,859
2026	19,394
2027	16,086
2028	9,104
Thereafter	3,239
Total lease payments	105,733
Less imputed interest	(10,263)
Total finance lease liabilities	$ 95,470	$ 58,536

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	Aug. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Lease not yet commenced, value	$ 10.6
Lease not yet commenced, commencing year one	7.9
Lease not yet commenced, commencing year two	$ 2.7
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	4 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	6 years

CREDIT ARRANGEMENTS (Long-term

CREDIT ARRANGEMENTS (Long-term Debt) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2022	Jan. 31, 2022	Feb. 28, 2021	May 31, 2013
Debt Instrument [Line Items]
Total long-term debt including current maturities	$ 1,164,991	$ 1,513,703
Less debt issuance costs	(14,840)	(16,496)		$ (9,400)
Plus unamortized bond premium	4,646	4,838
Total amounts outstanding	1,154,797	1,502,045
Less current maturities of long-term debt and short-term borrowings	(40,513)	(388,796)
Long-term debt	$ 1,114,284	$ 1,113,249
Finance leases, weighted average discount rate		4.125%
Short-term debt, weighted average interest rate	7.80%	7.26%
2023 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.875%					4.875%
Total long-term debt including current maturities	$ 0	$ 330,000				$ 330,000
$300 million notes at 4.125% due February 2030
Debt Instrument [Line Items]
Weighted average interest rate	4.125%			4.125%
Total long-term debt including current maturities	$ 300,000	300,000		$ 300,000
2031 Notes
Debt Instrument [Line Items]
Weighted average interest rate	3.875%				3.875%
Total long-term debt including current maturities	$ 300,000	300,000			$ 300,000
Less debt issuance costs					$ (4,900)
$300 million notes at 4.375% due March 2032
Debt Instrument [Line Items]
Weighted average interest rate	4.375%			4.375%
Total long-term debt including current maturities	$ 300,000	300,000		$ 300,000
Series 2022 Bonds, due 2047
Debt Instrument [Line Items]
Weighted average interest rate	4%		4%
Total long-term debt including current maturities	$ 145,060	145,060
Less debt issuance costs			$ (3,100)
Short-term borrowings
Debt Instrument [Line Items]
Total long-term debt including current maturities	$ 8,419	26,390
Other
Debt Instrument [Line Items]
Weighted average interest rate	4.547%
Total long-term debt including current maturities	$ 16,042	21,278
Finance leases
Debt Instrument [Line Items]
Total long-term debt including current maturities	$ 95,470	58,536
Finance leases, weighted average discount rate	4.926%
Revolving credit agreement | Poland Term Loan
Debt Instrument [Line Items]
Weighted average interest rate	0%
Total long-term debt including current maturities	$ 0	$ 32,439

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details) zł in Thousands		1 Months Ended		12 Months Ended
	May 15, 2023 USD ($)	Nov. 30, 2022 USD ($)	Feb. 28, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2023 PLN (zł)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Aug. 31, 2023 PLN (zł)	Oct. 31, 2022 USD ($)	Aug. 31, 2022 PLN (zł)	Jan. 31, 2022 USD ($)	Feb. 28, 2021 USD ($)	May 31, 2013 USD ($)
Debt Instrument [Line Items]
Loss on debt extinguishment				$ 179,000		$ 16,052,000	$ 16,841,000
Total long-term debt including current maturities				1,164,991,000		1,513,703,000
Interest costs capitalized				21,500,000		11,900,000	2,800,000
Less debt issuance costs				14,840,000		16,496,000					$ 9,400,000
Repayments of Long-term Debt				389,756,000		328,594,000	$ 368,527,000
CMCP
Debt Instrument [Line Items]
Maximum borrowing capacity				145,400,000		63,900,000		zł 600,000		zł 300,000
Revolving credit agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				850,000,000
Revolving line of credit outstanding amount				$ 0		0
Minimum interest coverage ratio				2.50	2.50
Maximum debt to capitalization ratio				0.60	0.60
Actual interest coverage ratio				34.79				34.79
Actual debt to capitalization ratio				0.22				0.22
Revolving credit agreement | CMCP
Debt Instrument [Line Items]
Revolving line of credit outstanding amount | zł								zł 0
Borrowings under uncommitted lines of credit | zł					zł 0
Stand-by letters of credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 50,000,000
Stand by letters of credit outstanding amount				900,000		1,400,000
Standby Letters of Credit | CMCP
Debt Instrument [Line Items]
Stand by letters of credit outstanding amount				$ 16,300,000		1,000,000
U.S. Facility
Debt Instrument [Line Items]
Trade accounts receivable						150,000,000
2023 Notes
Debt Instrument [Line Items]
Weighted average interest rate				4.875%				4.875%					4.875%
Total long-term debt including current maturities				$ 0		330,000,000							$ 330,000,000
Repayments of Long-term Debt	$ 214,100,000	$ 115,900,000
$300 million notes at 4.125% due February 2030
Debt Instrument [Line Items]
Weighted average interest rate				4.125%				4.125%			4.125%
Total long-term debt including current maturities				$ 300,000,000		300,000,000					$ 300,000,000
$300 million notes at 4.375% due March 2032
Debt Instrument [Line Items]
Weighted average interest rate				4.375%				4.375%			4.375%
Total long-term debt including current maturities				$ 300,000,000		300,000,000					$ 300,000,000
$300 million notes at 3.875% due February 2031
Debt Instrument [Line Items]
Weighted average interest rate				3.875%				3.875%				3.875%
Total long-term debt including current maturities				$ 300,000,000		300,000,000						$ 300,000,000
Less debt issuance costs												$ 4,900,000
2026 Notes
Debt Instrument [Line Items]
Weighted average interest rate												5.75%
Loss on debt extinguishment						16,800,000
Total long-term debt including current maturities												$ 350,000,000
Series 2022 Bonds, due 2047
Debt Instrument [Line Items]
Term loan, maximum principal amount			$ 145,100,000
Weighted average interest rate			4%	4%				4%
Total long-term debt including current maturities				$ 145,060,000		145,060,000
Less debt issuance costs			$ 3,100,000
Bonds, effective yield (interest rate)			0.035
Proceeds from issuance of debt			$ 150,000,000
Poland Term Loan | CMCP
Debt Instrument [Line Items]
Revolving line of credit outstanding amount						32,400,000				152,400
Poland Term Loan | Revolving credit agreement
Debt Instrument [Line Items]
Weighted average interest rate				0%				0%
Total long-term debt including current maturities				$ 0		32,439,000
Credit Agreement Maturing March 2026 | Revolving credit agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				600,000,000
Credit Agreement Maturing March 2026 | Line of Credit | Revolving credit agreement
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 400,000,000
Credit Agreement, Maturing 2027 | Line of Credit | Secured Debt
Debt Instrument [Line Items]
Term loan, maximum principal amount									$ 200,000,000
Poland Program
Debt Instrument [Line Items]
Transfer of Accounts Receivable Program, Face Amount				69,800,000		61,300,000				288,000
Transfers of Accounts Receivable Outstanding				$ 8,400,000		$ 26,400,000		zł 34,700		zł 124,000

CREDIT ARRANGEMENTS (Scheduled

CREDIT ARRANGEMENTS (Scheduled Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Jan. 31, 2022
Long-Term Debt, Fiscal Year Maturity [Abstract]
2024	$ 4,057
2025	1,877
2026	1,789
2027	1,782
2028	1,795
Thereafter	1,049,802
Total long-term debt, excluding finance leases	1,061,102
Less unamortized debt issuance costs	(14,840)	$ (16,496)	$ (9,400)
Plus unamortized bond premium	4,646	$ 4,838
Total long-term debt outstanding, excluding finance leases	$ 1,050,908

NEW MARKETS TAX CREDIT TRANSA_3

NEW MARKETS TAX CREDIT TRANSACTIONS (Details) $ in Thousands	12 Months Ended	24 Months Ended
	Aug. 31, 2023 USD ($)	Dec. 31, 2017 numberOfTaxCreditTransactions	Aug. 31, 2022 USD ($)
Income Tax Contingency [Line Items]
Number of New Markets Tax Credit transactions | numberOfTaxCreditTransactions		3
Deferred Revenue, Revenue Recognized	$ 17,700
Other Liabilities, Noncurrent	253,181		$ 230,060
Accounts Payable and Accrued Liabilities
Income Tax Contingency [Line Items]
Deferred revenue			17,700
Other Noncurrent Liabilities
Income Tax Contingency [Line Items]
Deferred revenue			9,500
Fund 156 | Micro Mill
Income Tax Contingency [Line Items]
USBCDC Capital Contribution	17,700
Commonwealth Loan	$ 35,300
Commonwealth Loan Rate (Percent)	1.08%
QEI to CDE	$ 51,500
Fund 156 | Micro Mill | Qualified Equity Investment Loans | CMC Steel Oklahoma, LLC
Income Tax Contingency [Line Items]
CDE Loan	50,700
Fund 249
Income Tax Contingency [Line Items]
Accrued expenses and other payables	6,700
Fund 249 | Spooler Project
Income Tax Contingency [Line Items]
USBCDC Capital Contribution	6,700
Commonwealth Loan	$ 14,000
Commonwealth Loan Rate (Percent)	1.39%
QEI to CDE	$ 20,000
Fund 249 | Spooler Project | Qualified Equity Investment Loans | CMC Steel Oklahoma, LLC
Income Tax Contingency [Line Items]
CDE Loan	$ 19,400
Fund 219
Income Tax Contingency [Line Items]
Period at end of which Company may be entitled or obligated to repurchase interest in the fund	8 years
Other Liabilities, Noncurrent	$ 2,800
Fund 219 and Fund 222 | T-post Shop
Income Tax Contingency [Line Items]
USBCDC Capital Contribution	5,000
Commonwealth Loan	$ 10,400
Commonwealth Loan Rate (Percent)	1.16%
QEI to CDE	$ 15,000
Fund 219 and Fund 222 | T-post Shop | Qualified Equity Investment Loans | CMC Steel Oklahoma, LLC
Income Tax Contingency [Line Items]
CDE Loan	$ 14,700
Fund 156 and Fund 249
Income Tax Contingency [Line Items]
Period at end of which Company may be entitled or obligated to repurchase interest in the fund	7 years
Fund 222
Income Tax Contingency [Line Items]
USBCDC Capital Contribution	$ 2,200
CDE Loan			$ 2,100

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	$ 8.2
Foreign exchange
Derivative [Line Items]
Derivative notional amount	221.4	$ 253.5
Commodity
Derivative [Line Items]
Derivative notional amount	$ 456.4	$ 205.1

DERIVATIVES - Commodity Contrac

DERIVATIVES - Commodity Contract Commitments (Details)	12 Months Ended
	Aug. 31, 2023 MMBTU MWh t
Aluminum | Long
Derivative [Line Items]
Commodity contract commitments	2,850
Aluminum | Short
Derivative [Line Items]
Commodity contract commitments	1,400
Copper | Long
Derivative [Line Items]
Commodity contract commitments	147
Copper | Short
Derivative [Line Items]
Commodity contract commitments	8,459
Electricity | Long
Derivative [Line Items]
Energy contract commitments | MWh	3,312,000
Natural Gas | Long
Derivative [Line Items]
Energy contract commitments | MMBTU	5,270,500

DERIVATIVES (Derivatives Not De

DERIVATIVES (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Other Comprehensive Income, Net of Income Taxes (in thousands)	$ 6,395	$ 138,634	$ 35,492
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Other Comprehensive Income, Net of Income Taxes (in thousands)	6,367	138,534	35,392
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	(3,028)	15,862	(18,035)
Amount of Gain Reclassified from AOCI into Earnings on Derivatives (in thousands)	11,325	27,267	2,378
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Other Comprehensive Income, Net of Income Taxes (in thousands)	28	100	100
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) before taxes for derivatives not designated as hedging instruments	12,265	(6,547)	(3,674)
Amount of Gain Reclassified from AOCI into Earnings on Derivatives (in thousands)	$ 244	$ 244	$ 555

DERIVATIVES (Schedule of Deriva

DERIVATIVES (Schedule of Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Commodity | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 11,427	$ 26,180
Commodity | Other Noncurrent Assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	184,261	134,667
Commodity | Accounts Payable and Accrued Liabilities
Derivative [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, before Offset	2,983	1,110
Commodity | Other Long-term Liabilities
Derivative [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, before Offset	1,085	150
Foreign Exchange | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,898	1,296
Foreign Exchange | Accounts Payable and Accrued Liabilities
Derivative [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, before Offset	$ 2,566	$ 3,126

FAIR VALUE (Financial Assets an

FAIR VALUE (Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Commodity | Significant Unobservable Inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Low
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy Floating Rate	$ 480	$ 460
Commodity | Significant Unobservable Inputs (Level 3) | Valuation Technique, Discounted Cash Flow | High
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy Floating Rate	855	1,299
Commodity | Significant Unobservable Inputs (Level 3) | Valuation Technique, Discounted Cash Flow | Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy Floating Rate	630	717
Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	508,227,000	572,384,000
Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	508,227,000	572,384,000
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2)
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)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	0	0
Fair value, measurements, recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	195,689,000	160,847,000
Derivative liabilities	4,068,000	1,260,000
Fair value, measurements, recurring | Commodity | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,264,000	17,347,000
Derivative liabilities	4,068,000	1,260,000
Fair value, measurements, recurring | Commodity | Significant Other Observable Inputs (Level 2)
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 | Commodity | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	194,425,000	143,500,000
Derivative liabilities	0	0
Fair value, measurements, recurring | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,898,000	1,296,000
Derivative liabilities	2,566,000	3,126,000
Fair value, measurements, recurring | Foreign exchange | Quoted Prices in Active Markets for Identical Assets (Level 1)
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 | Foreign exchange | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,898,000	1,296,000
Derivative liabilities	2,566,000	3,126,000
Fair value, measurements, recurring | Foreign exchange | Significant Unobservable Inputs (Level 3)
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) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss)	Other comprehensive income (loss)	Other comprehensive income (loss)
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of goods and services sold	Cost of goods and services sold	Cost of goods and services sold
Commodity | Significant Unobservable Inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 143,500	$ 26,413	$ (15,007)
Recognized in OCI	62,706	138,760	43,798
Recognized in earnings	(11,781)	(21,673)	(2,378)
Ending Balance	$ 194,425	$ 143,500	$ 26,413

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, excluding other borrowings and finance leases	$ 1,000	$ 1,400
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, excluding other borrowings and finance leases	$ 900.9	$ 1,200

INCOME TAX (Components of Earni

INCOME TAX (Components of Earnings from Continuing Operations before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 1,095,099	$ 1,197,769	$ 413,616
Foreign	26,868	317,378	120,402
Earnings before income taxes	$ 1,121,967	$ 1,515,147	$ 534,018

INCOME TAX (Income Taxes Includ

INCOME TAX (Income Taxes Included in the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Current:
United States	$ 168,399	$ 122,334	$ 113,696
Foreign	6,089	63,912	25,642
State and local	32,916	20,228	19,458
Current taxes	207,404	206,474	158,796
Deferred:
United States	46,008	81,162	(10,563)
Foreign	(847)	(3,388)	(2,512)
State and local	9,642	13,637	(24,568)
Deferred taxes	54,803	91,411	(37,643)
Total income taxes	$ 262,207	$ 297,885	$ 121,153

INCOME TAX (Reconciliation of F

INCOME TAX (Reconciliation of Federal Statutory Rate to Effective Tax Rate from Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Contingency [Line Items]
Income tax expense at statutory rate	$ 235,613	$ 318,181	$ 112,144
State and local taxes (1)(2)	33,621	26,753	(3,838)
Research and development credit(2)	(7,986)	(13,102)	(1,289)
Foreign tax impairment on valuation of subsidiaries (3)	(7,334)	0	(29,866)
Change in valuation allowance	6,471	(447)	37,092
Global intangible low-taxed income (4)(5)	(1,967)	(685)	(17,263)
Capital loss(6)	0	(34,736)	0
Nontaxable foreign interest (3)	0	3	(14,617)
Other	3,789	548	4,264
Income tax expense	$ 262,207	$ 297,885	$ 121,153
Effective income tax rate	23.40%	19.70%	22.70%
Deferred Tax Assets, Valuation Allowance	$ 280,463	$ 268,547
State
Income Tax Contingency [Line Items]
Deferred Tax Assets, Valuation Allowance			$ 19,900

INCOME TAX (Deferred Tax Assets

INCOME TAX (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Deferred tax assets:
Net operating losses and credits	$ 298,624	$ 300,787
Capitalized research and development	45,669	0
Deferred compensation and employee benefits	33,491	39,095
Reserves and other accrued expenses	16,510	11,730
ROU operating lease liabilities	39,984	33,398
Other	21,750	17,253
Total deferred tax assets	456,028	402,263
Valuation allowance for deferred tax assets	(280,463)	(268,547)
Deferred tax assets, net	175,565	133,716
Deferred tax liabilities:
Property, plant and equipment	(351,900)	(261,638)
ROU operating lease assets	(38,801)	(32,444)
Deferred Tax Liabilities, Intangible Assets	44,168	48,558
Deferred Tax Assets, Derivative Instruments	35,992	27,324
Other	(11,453)	(14,054)
Net deferred tax liabilities	(482,314)	(384,018)
Total deferred tax liabilities	$ (306,749)	$ (250,302)

INCOME TAX (Narrative) (Details

INCOME TAX (Narrative) (Details) $ in Millions	Aug. 31, 2023 USD ($)
State
Income Tax Contingency [Line Items]
Net operating losses carry forward	$ 348.4
Federal
Income Tax Contingency [Line Items]
Net operating losses carry forward	21.3
Foreign
Income Tax Contingency [Line Items]
Net operating losses carry forward	$ 946.6

INCOME TAX (Unrecognized Tax Be

INCOME TAX (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 29,747	$ 5,531	$ 8,652
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	14,792	17,461	0
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(374)
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		6,755	0
Reductions due to lapse of statute of limitations	0	0	(3,121)
Unrecognized Tax Benefits, Ending Balance	$ 44,165	$ 29,747	$ 5,531

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS (Stock-Based Awards Granted) (Details) - shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Restricted Stock Awards/Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number	633,898	652,951	847,872
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number	335,746	328,734	406,098

STOCK-BASED COMPENSATION PLAN_3

STOCK-BASED COMPENSATION PLANS (Narrative) (Details) $ in Millions	12 Months Ended
	Aug. 31, 2023 USD ($) Interval shares	Aug. 31, 2022 USD ($) shares	Aug. 31, 2021 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 60.5	$ 47	$ 43.7
Stock-based compensation expense, tax | $	14.2	9.3	9.9
Total unrecognized compensation cost | $	$ 22.6
Period of unrecognized compensation to be recognized	1 year 9 months 18 days
Shares available for future grants	3,704,585
Fair value of shares vested | $	$ 41	$ 30.5	$ 25.6
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards and performance stock units, granted, shares	633,898	652,951	847,872
Restricted stock units | United States
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting frequency | Interval	3
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards and performance stock units, granted, shares	335,746	328,734	406,098
Performance Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	50%
Performance Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	200%
Performance Awards | EBITDA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that performance targets are weighted	75%	75%	75%
Performance Awards | Relative total stockholder return
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage that performance targets are weighted	25%	25%	25%
Liability awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards and performance stock units, granted, shares	269,052	261,275
Equivalent number of awards outstanding	541,202
Equivalent number of shares expected to vest	514,142
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	745,754
Maximum number of shares per employee	500
Purchase discount from market price	15%	15%	15%

STOCK-BASED COMPENSATION PLAN_4

STOCK-BASED COMPENSATION PLANS (Restricted Stock Awards and Performance Stock Units Excluding the Cash Component) (Details) - Restricted stock units and performance stock units excluding the cash component - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding number, beginning balance	1,993,630	2,190,795	2,245,637
Granted, number	1,438,695	1,466,628	1,519,153
Vested, number	(1,621,002)	(1,617,943)	(1,451,846)
Forfeited, number	(33,732)	(45,850)	(122,149)
Outstanding number, ending balance	1,777,591	1,993,630	2,190,795
Outstanding, weighted average grant-date fair value, beginning balance	$ 27.59	$ 20.67	$ 18.79
Granted, weighted average grant-date fair value	36.88	28.16	20.49
Vested, weighted average grant-date fair value	25.32	18.84	17.62
Forfeited, weighted average grant-date fair value	36.65	23.57	20.19
Outstanding, weighted average grant-date fair value, ending balance	$ 37.01	$ 27.59	$ 20.67

STOCK-BASED COMPENSATION PLAN_5

STOCK-BASED COMPENSATION PLANS (Yearly Activity of Stock Purchase Plan) (Details) - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	3,704,585
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subscribed	272,980	279,370	347,510
Price per share	$ 41.31	$ 29.90	$ 17.14
Shares purchased	248,080	313,790	292,690
Price per share	$ 29.90	$ 17.14	$ 18.80
Shares available for future issuance	745,754

EMPLOYEES' RETIREMENT PLANS (Na

EMPLOYEES' RETIREMENT PLANS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Compensation expense under defined contribution profit sharing and savings plan and BRP Plan		$ 40,400	$ 34,000	$ 47,000
Employer contributions	$ 4,100
Actuarial (gain) loss		4,200
SG&A expenses
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Compensation expense under defined contribution profit sharing and savings plan and BRP Plan		14,300	7,200	25,500
Cost of goods sold
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Compensation expense under defined contribution profit sharing and savings plan and BRP Plan		26,100	26,800	21,500
BRP plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation liability, total		48,200	43,100
Current value of segregated assets		60,100	57,900
Net holding gain on segregated assets		5,000	(7,100)	$ 10,100
Other Long-term Liabilities | BRP plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation liability, noncurrent		41,100	40,000
Accrued Expenses and Other Payables | BRP plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation liability, current		$ 7,100	$ 3,100

EMPLOYEES' RETIREMENT PLANS (Be

EMPLOYEES' RETIREMENT PLANS (Benefit Obligation and Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Employer contributions	$ 4,100
Actuarial (gain) loss		$ (4,200)
U.K. Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year		52,042	$ 0
Acquisition		0	68,966
Interest cost		2,261	635
Amortization of net actuarial gain		(5,354)	(11,107)
Benefits paid		(2,529)	(942)
Foreign currency translation		(4,480)	5,510
Benefit obligation at end of year		50,900	52,042	$ 0
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year		60,454	0
Acquisition		0	83,586
Actual return on plan assets		(13,533)	(15,718)
Employer contributions		297	73
Benefits paid		(2,529)	(942)
Foreign currency translation		(4,833)	6,545
Fair value of plan assets at end of year		49,522	60,454	0
Funded status at end of year (net asset (liability) recognized in the consolidated balance sheets as of August 31,)		(1,378)	8,412
Net actuarial loss		16,477	5,666
U.S. Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year		26,568	33,687
Interest cost		0	709	724
Amortization of net actuarial gain		(47)	(6,010)
Benefits paid		(466)	(1,818)
Settlement		(26,055)	0
Benefit obligation at end of year		0	26,568	33,687
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year		24,440	34,126
Actuarial (gain) loss		(47)	0
Actual return on plan assets		(1,966)	(7,407)
Administrative expenses		0	(461)
Employer contributions		4,094	0
Benefits paid		(466)	(1,818)
Actuarial (gain) loss		(26,055)	0
Fair value of plan assets at end of year		0	24,440	$ 34,126
Funded status at end of year (net asset (liability) recognized in the consolidated balance sheets as of August 31,)		0	(2,128)
Net actuarial loss		$ 0	$ 2,278

EMPLOYEES' RETIREMENT PLANS (Ne

EMPLOYEES' RETIREMENT PLANS (Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
U.K. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 2,261	$ 635
Expected return on plan assets	(2,589)	(1,067)
Total net periodic benefit gain	(328)	(432)
Net actuarial loss arising during measurement period	10,811	5,666
U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected administrative expenses	0	50	$ 290
Interest cost	0	709	724
Expected return on plan assets	0	(1,579)	(1,493)
Settlements, curtailments and other	4,245	0	0
Total net periodic benefit gain	4,245	(820)	(479)
Net actuarial loss arising during measurement period	$ (2,278)	$ 3,388	$ (4,344)

EMPLOYEES' RETIREMENT PLANS (We

EMPLOYEES' RETIREMENT PLANS (Weighted-average Assumptions) (Details)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
U.K. Pension Plan
Defined Benefit Plan Obligations
Effective discount rate for benefit obligations	5.30%	4.30%
Net Periodic Benefit Cost
Effective rate for interest on benefit obligations	4.30%	2.90%
Expected long-term rate of return	0.046	0.040
U.S. Pension Plan
Defined Benefit Plan Obligations
Effective discount rate for benefit obligations		4.70%
Net Periodic Benefit Cost
Effective rate for interest on benefit obligations		2.20%	2.10%
Expected long-term rate of return		0.050	0.050

EMPLOYEES' RETIREMENT PLANS (_2

EMPLOYEES' RETIREMENT PLANS (Weighted-average Asset Allocations (Details) - U.K. Pension Plan	Aug. 31, 2023	Aug. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension assets, actual allocation (percent)	100%	100%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets, actual allocation (percent)	88.20%	71.40%
Fixed income securities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	85%
Fixed income securities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	90%
Equity securities:
Defined Benefit Plan Disclosure [Line Items]
Pension assets, actual allocation (percent)	0%	12.40%
Equity securities: | Minimum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	0%
Equity securities: | Maximum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	5%
Cash and other
Defined Benefit Plan Disclosure [Line Items]
Pension assets, actual allocation (percent)	11.80%	16.20%
Cash and other | Minimum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	10%
Cash and other | Maximum
Defined Benefit Plan Disclosure [Line Items]
Pension assets, target allocation (percent)	15%

EMPLOYEES' RETIREMENT PLANS (Fa

EMPLOYEES' RETIREMENT PLANS (Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value of Plan assets	$ 49,522	$ 60,454
U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	24,440	$ 34,126
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of Plan assets		24,440
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	43,654	43,160
Fixed income securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		23,958
Fixed income securities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40,497	35,849
Fixed income securities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,157	7,311
Cash and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,868	9,780
Cash and other | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	376	530
Cash and other | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		482
Cash and other | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,356	7,676
Cash and other | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 136	1,574
Equity securities:
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		7,514
Equity securities: | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Equity securities: | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		7,514
Equity securities: | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 0

EMPLOYEES' RETIREMENT PLANS (Fu

EMPLOYEES' RETIREMENT PLANS (Future Pension Benefit Payments) (Details) - U.K. Pension Plan $ in Thousands	Aug. 31, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 2,697
2025	2,764
2026	2,834
2027	2,905
2028	2,977
Next five years	$ 16,041

EMPLOYEES' RETIREMENT PLANS - (

EMPLOYEES' RETIREMENT PLANS - (Changed Related To Actual Return on Plan Assets) (Details) - U.K. Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets at beginning of year	$ 60,454	$ 0
Foreign currency translation	(4,833)	6,545
Fair value of plan assets at end of year	49,522	60,454
Significant Unobservable Inputs (Level 3)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets at beginning of year	8,885
Sales	(4,997)
Assets held as of the reporting date	134
Assets sold during the year	256
Transfers out of Level 3	(1,541)
Foreign currency translation	556
Fair value of plan assets at end of year	$ 3,293	$ 8,885

CAPITAL STOCK (Narrative) (Deta

CAPITAL STOCK (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Oct. 13, 2021	Oct. 27, 2014
Stockholders' Equity Note [Abstract]
Share repurchase program, authorized amount				$ 350	$ 100
Share repurchase program, remaining authorized repurchase amount	$ 86.7
Preferred stock, shares authorized (shares)	2,000,000,000,000	2,000,000,000,000
Preferred stock, par value per share (in USD per share)	$ 1	$ 1
Preferred stock, shares outstanding (shares)	0	0
Treasury stock acquired (in shares)	2,309,452	4,496,628	0
Treasury Stock Acquired, Average Cost Per Share	$ 43.91	$ 36

EARNINGS PER SHARE (Calculation

EARNINGS PER SHARE (Calculations of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Earnings Per Share [Abstract]
Net earnings	$ 859,760	$ 1,217,262	$ 412,865
Earnings Per Share, Basic [Abstract]
Average basic shares outstanding (in shares)	117,077,703	120,648,090	120,338,357
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Effect of dilutive securities (in shares)	1,528,568	1,724,296	1,645,140
Diluted earnings per share from continuing operations attributable to CMC (USD per share)	$ 7.25	$ 9.95	$ 3.38
Weighted Average Number of Shares Outstanding, Diluted, Total	118,606,271	122,372,386	121,983,497

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Loss Contingencies [Line Items]
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities
CERCLA sites
Loss Contingencies [Line Items]
Total environmental liabilities	$ 4.5	$ 5.3
Long-term environmental liabilities	$ 2

ACCRUED EXPENSES AND OTHER PA_3

ACCRUED EXPENSES AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Payables and Accruals [Abstract]
Salaries and incentive compensation	$ 133,242	$ 187,586
Taxes other than income taxes	39,433	72,874
Worker's compensation and general liability insurance	41,512	40,529
Accrued Utilities	$ 20,695	$ 28,063

OPERATING SEGMENTS (Narrative)

OPERATING SEGMENTS (Narrative) (Details) $ in Thousands	12 Months Ended
	Aug. 31, 2023 USD ($) segments	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of reporting segments | segments	2
Net sales | $	$ 8,799,533	$ 8,913,481	$ 6,729,760

OPERATING SEGMENTS (Summary of

OPERATING SEGMENTS (Summary of Certain Financial Information from Continuing Operations by Reportable Segment) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Segment Reporting Information [Line Items]
Net sales		$ 8,799,533	$ 8,913,481	$ 6,729,760
Adjusted EBITDA		1,384,704	1,745,806	754,284
Interest expense(1)		40,127	50,709	51,904
Capital expenditures		606,665	449,988	184,165
Depreciation and amortization		218,830	175,024	167,613
Asset impairments	$ 3,500	3,780	4,926	6,784
Total assets	6,639,094	6,639,094	6,237,027
Continuing Operations
Segment Reporting Information [Line Items]
Net sales		8,799,533	8,913,481	6,729,760
Adjusted EBITDA		1,384,704	1,745,806	754,284
Interest expense(1)		40,127	50,709	51,904
Capital expenditures		606,665	449,988	184,165
Depreciation and amortization		218,830	175,024	167,613
Asset impairments		3,780	4,926	6,784
Total assets	6,639,094	6,639,094	6,237,027	4,638,671
Segments | North America
Segment Reporting Information [Line Items]
Net sales		7,347,020	7,298,632	5,670,976
Adjusted EBITDA		1,454,754	1,553,858	746,594
Interest expense(1)		116,650	26,798	25,131
Capital expenditures		548,218	415,157	134,932
Depreciation and amortization		170,266	135,322	132,192
Asset impairments		3,733	4,915	6,360
Total assets	5,006,458	5,006,458	4,467,314	3,221,465
Segments | North America | New Markets Tax Credit Transactions
Segment Reporting Information [Line Items]
Net sales		17,700
Segments | Europe
Segment Reporting Information [Line Items]
Net sales		1,416,704	1,621,642	1,049,059
Adjusted EBITDA		61,353	346,051	148,258
Interest expense(1)		1,978	3,819	476
Capital expenditures		45,295	27,783	44,002
Depreciation and amortization		39,457	31,250	27,516
Asset impairments		47	11	424
Total assets	1,096,153	1,096,153	1,056,101	729,766
Segments | Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA		(131,403)	(154,103)	(140,568)
Interest expense(1)		(78,501)	20,092	26,297
Capital expenditures		13,152	7,048	5,231
Depreciation and amortization		9,107	8,452	7,905
Asset impairments		0	0	0
Total assets	$ 536,483	$ 536,483	$ 713,612	$ 687,440

OPERATING SEGMENTS (Reconciliat

OPERATING SEGMENTS (Reconciliations of Earnings from Continuing Operations to Adjusted Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Segment Reporting [Abstract]
Net earnings		$ 859,760	$ 1,217,262	$ 412,865
Interest expense		(40,127)	(50,709)	(51,904)
Income taxes		(262,207)	(297,885)	(121,153)
Depreciation and amortization		218,830	175,024	167,613
Asset impairments	$ 3,500	3,780	4,926	6,784
Amortization of acquired unfavorable contract backlog		0	0	(6,035)
Adjusted EBITDA		$ 1,384,704	$ 1,745,806	$ 754,284

OPERATING SEGMENTS (External Ne

OPERATING SEGMENTS (External Net Sales from Continuing Operations by Major Product) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	$ 8,799,533	$ 8,913,481	$ 6,729,760
Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	7,347,020	7,298,632	5,670,976
Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	1,416,704	1,621,642	1,049,059
Intersegment
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	0	0	0
Intersegment | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	841	1,989	0
Intersegment | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	8,043	2,071	1,814
Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	35,809	(6,793)	9,725
Corporate | Intersegment
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	(8,884)	(4,060)	(1,814)
Unaffiliated Customers | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	8,799,533	8,913,481	6,729,760
Unaffiliated Customers | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	7,346,179	7,296,643	5,670,976
Unaffiliated Customers | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	1,408,661	1,619,571	1,047,245
Unaffiliated Customers | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	44,693	(2,733)	11,539
Raw material products | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	1,342,815	1,529,366	1,182,838
Raw material products | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	1,322,781	1,504,107	1,162,997
Raw material products | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	20,034	25,259	19,841
Raw material products | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	0	0	0
Steel products | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	3,854,212	4,190,812	3,098,637
Steel products | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	2,785,266	2,955,121	2,289,975
Steel products | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	1,068,946	1,235,691	808,662
Steel products | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	0	0	0
Downstream products | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	2,718,104	2,537,870	2,006,367
Downstream products | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	2,517,908	2,245,734	1,814,192
Downstream products | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	200,196	292,136	192,175
Downstream products | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	0	0	0
Other | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	216,993	174,637	152,274
Other | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	132,651	138,164	114,168
Other | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	39,649	39,206	26,567
Other | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	44,693	(2,733)	11,539
Construction Related Solutions | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	667,409	480,796	289,644
Construction Related Solutions | Segments | North America
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	587,573	453,517	289,644
Construction Related Solutions | Segments | Europe
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	79,836	27,279	0
Construction Related Solutions | Corporate | Segments
Entity-Wide Information, Revenue from External Customer [Line Items]
Net sales	$ 0	$ 0	$ 0

OPERATING SEGMENTS (External _2

OPERATING SEGMENTS (External Net Sales from Continuing Operations by Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 8,799,533	$ 8,913,481	$ 6,729,760
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	6,894,990	6,793,023	5,295,447
Poland
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	941,806	1,078,986	793,075
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	217,779	246,679	156,101
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 744,958	$ 794,793	$ 485,137

OPERATING SEGMENTS (Long-Lived

OPERATING SEGMENTS (Long-Lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 2,593,276	$ 2,073,818	$ 1,699,350
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	2,343,606	1,858,269	1,473,745
Poland
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	209,966	180,350	225,582
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 39,704	$ 35,199	$ 23

SCHEDULE II _ VALUATION AND Q_2

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 4,990	$ 5,553	$ 9,597
Additions, Charged to Cost and Expense	463	300	(1,429)
Additions, Charged to Other Accounts	157	193	138
Deductions, Charged to Cost and Expense	0	0	0
Deductions, Charged to Other Accounts	(1,475)	(1,056)	(2,753)
Balance at End of Period	4,135	4,990	5,553
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	268,547	278,099	281,849
Additions, Charged to Cost and Expense	16,514	3,328	20,058
Additions, Charged to Other Accounts	0	0	0
Deductions, Charged to Cost and Expense	(4,598)	(12,880)	(23,808)
Deductions, Charged to Other Accounts	0	0	0
Balance at End of Period	$ 280,463	$ 268,547	$ 278,099