Commercial Metals (CMC) 10-Q 6 Jan 25 2025 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Nov. 30, 2024	Dec. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2024
Document Transition Report	false
Entity File Number	1-4304
Entity Registrant Name	COMMERCIAL METALS COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-0725338
Entity Address, Address Line One	6565 N. MacArthur Blvd.
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	(214)
Local Phone Number	689-4300
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CMC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		113,641,513
Entity Central Index Key	0000022444
Amendment Flag	false
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--08-31
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,909,602	$ 2,003,051
Costs and operating expenses:
Cost of goods sold	1,601,722	1,604,068
Selling, general and administrative expenses	177,858	162,532
Interest expense	11,322	11,756
Litigation expense	350,000	0
Net costs and operating expenses	2,140,902	1,778,356
Earnings (loss) before income taxes	(231,300)	224,695
Income tax expense (benefit)	(55,582)	48,422
Net earnings (loss)	$ (175,718)	$ 176,273
Earnings (loss) per share:
Basic (in USD per share)	$ (1.54)	$ 1.51
Diluted (in USD per share)	$ (1.54)	$ 1.49
Average basic shares outstanding (shares)	114,053,455	116,771,939
Average diluted shares outstanding (shares)	114,053,455	118,354,913

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (175,718)	$ 176,273
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(34,957)	23,493
Derivatives:
Net unrealized holding gain (loss)	420	(42,945)
Reclassification for realized gain	(1,356)	(1,499)
Net unrealized loss on derivatives	(936)	(44,444)
Net other comprehensive loss on defined benefit pension plans	(10)	(9)
Total other comprehensive loss, net of income taxes	(35,903)	(20,960)
Comprehensive income (loss)	$ (211,621)	$ 155,313

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023
Current assets:
Cash and cash equivalents	$ 856,104	$ 857,922	$ 704,603
Accounts receivable (less allowance for doubtful accounts of $3,254 and $3,494)	1,106,139	1,158,946
Inventories, net	960,088	971,755
Prepaid and other current assets	294,588	285,489
Assets held for sale	1,204	18,656
Total current assets	3,218,123	3,292,768
Property, plant and equipment, net	2,612,836	2,577,136
Intangible assets, net	227,153	234,869
Goodwill	384,249	385,630
Other noncurrent assets	330,038	327,436
Total assets	6,772,399	6,817,839	6,817,839
Current liabilities:
Accounts payable	323,492	350,550
Accrued contingent litigation-related loss	350,000		0
Other accrued expenses and payables	453,377	445,514
Current maturities of long-term debt	38,561	38,786
Total current liabilities	1,165,430	834,850
Deferred income taxes	200,056	276,908
Other noncurrent liabilities	243,080	255,222
Long-term debt	1,148,536	1,150,835
Total liabilities	2,757,102	2,517,815
Other commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, par value $0.01 per share; authorized 200,000,000 shares; issued 129,060,664 shares; outstanding 113,919,151 and 114,104,057 shares	1,290	1,290
Additional paid-in capital	384,782	407,232
Accumulated other comprehensive loss	(121,855)	(85,952)	(24,738)
Retained earnings	4,307,613	4,503,885
Less treasury stock 15,141,513 and 14,956,607 shares at cost	(556,781)	(526,679)
Stockholders' equity	4,015,049	4,299,776
Stockholders' equity attributable to non-controlling interests	248	248
Total stockholders' equity	4,015,297	4,300,024	$ 4,229,977
Total liabilities and stockholders' equity	$ 6,772,399	$ 6,817,839

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,254	$ 3,494
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, issued (in shares)	129,060,664	129,060,664
Common stock, shares, outstanding (in shares)	113,919,151	114,104,057
Treasury stock (in shares)	15,141,513	14,956,607

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Cash flows from (used by) operating activities:
Net earnings (loss)	$ (175,718)	$ 176,273
Adjustments to reconcile net earnings (loss) to cash flows from operating activities:
Depreciation and amortization	70,437	69,186
Stock-based compensation	10,232	8,059
Write-down of inventory	8,950	10,655
Deferred income taxes and other long-term taxes	(76,940)	21,343
Litigation expense	350,000	0
Other	(185)	1,102
Changes in operating assets and liabilities	26,248	(25,558)
Net cash flows from operating activities	213,024	261,060
Cash flows from (used by) investing activities:
Capital expenditures	(118,187)	(66,991)
Proceeds from the sale of property, plant and equipment	5,167	0
Other	(467)	518
Net cash flows used by investing activities	(113,487)	(66,473)
Cash flows from (used by) financing activities:
Repayments of long-term debt	(10,940)	(9,276)
Debt issuance costs	(38)	0
Proceeds from accounts receivable facilities	13,303	9,421
Repayments under accounts receivable facilities	(13,303)	(17,471)
Treasury stock acquired	(50,417)	(28,408)
Tax withholdings related to share settlements, net of purchase plans	(19,560)	(19,535)
Dividends	(20,554)	(18,748)
Net cash flows used by financing activities	(101,509)	(84,017)
Effect of exchange rate changes on cash	(695)	819
Increase (decrease) in cash, restricted cash and cash equivalents	(2,667)	111,389
Cash, restricted cash and cash equivalents at beginning of period	859,555	595,717
Cash, restricted cash and cash equivalents at end of period	856,888	707,106
Supplemental information:
Cash paid (refund received) for income taxes	(3,031)	1,398
Cash paid for interest	11,270	10,888
Noncash activities:
Liabilities related to additions of property, plant and equipment	19,722	17,828
Right of use assets obtained in exchange for operating leases	10,574	9,197
Right of use assets obtained in exchange for finance leases	8,026	16,978
Cash and cash equivalents	856,104	704,603
Restricted cash	784	2,503
Total cash, restricted cash and cash equivalents	$ 856,888	$ 707,106

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock	Noncontrolling Interests
Beginning balance, shares at Aug. 31, 2023		129,060,664
Beginning balance at Aug. 31, 2023	$ 4,121,114	$ 1,290	$ 394,672	$ (3,778)	$ 4,097,262	$ (368,573)	$ 241
Treasury stock, beginning balance (in shares) at Aug. 31, 2023						(12,545,237)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	176,273				176,273
Other comprehensive income (loss)	(20,960)			(20,960)
Dividends	(18,748)				(18,748)
Treasury stock acquired, shares						(621,643)
Treasury stock acquired and excise tax	(28,408)					$ (28,408)
Issuance of stock under incentive and purchase plans, net of shares withheld for taxes	(19,535)		(37,380)			$ 17,845
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						814,440
Stock-based compensation	9,040		9,040
Reclassification of share-based liability awards	11,201		11,201
Ending balance, shares at Nov. 30, 2023		129,060,664
Ending balance at Nov. 30, 2023	$ 4,229,977	$ 1,290	377,533	(24,738)	4,254,787	$ (379,136)	241
Treasury stock, ending balance (in shares) at Nov. 30, 2023						(12,352,440)
Beginning balance, shares at Aug. 31, 2024	129,060,664	129,060,664
Beginning balance at Aug. 31, 2024	$ 4,300,024	$ 1,290	407,232	(85,952)	4,503,885	$ (526,679)	248
Treasury stock, beginning balance (in shares) at Aug. 31, 2024	(14,956,607)					(14,956,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	$ (175,718)				(175,718)
Other comprehensive income (loss)	(35,903)			(35,903)
Dividends	$ (20,554)				(20,554)
Treasury stock acquired, shares	(919,481)					(919,481)
Treasury stock acquired and excise tax	$ (50,529)					$ (50,529)
Issuance of stock under incentive and purchase plans, net of shares withheld for taxes	(19,560)		(39,987)			$ 20,427
Issuance of stock under incentive and purchase plans, net of forfeitures, shares						734,575
Stock-based compensation	7,628		7,628
Reclassification of share-based liability awards	$ 9,909		9,909
Ending balance, shares at Nov. 30, 2024	129,060,664	129,060,664
Ending balance at Nov. 30, 2024	$ 4,015,297	$ 1,290	$ 384,782	$ (121,855)	$ 4,307,613	$ (556,781)	$ 248
Treasury stock, ending balance (in shares) at Nov. 30, 2024	(15,141,513)					(15,141,513)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in USD per share)	$ 0.18	$ 0.16

NATURE OF OPERATIONS AND ACCOUN

NATURE OF OPERATIONS AND ACCOUNTING POLICIES	3 Months Ended
	Nov. 30, 2024
Accounting Policies [Abstract]
NATURE OF OPERATIONS AND ACCOUNTING POLICIES	NOTE 1. NATURE OF OPERATIONS AND ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") on a basis consistent with that used in the Annual Report on Form 10-K for the year ended August 31, 2024 (the "2024 Form 10-K") filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the United States ("U.S.") Securities and Exchange Commission (the "SEC") and include all normal recurring adjustments necessary to present fairly the condensed consolidated balance sheets and the condensed consolidated statements of earnings (loss), comprehensive income (loss), cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the consolidated financial statements and notes included in the 2024 Form 10-K. The results of operations for the three month period ended November 30, 2024 are not necessarily indicative of the results expected for the full fiscal year. Any reference in this Quarterly Report on Form 10-Q for the quarter ended November 30, 2024 ("Form 10-Q") to the "corresponding period" or "comparable period" relates to the relevant three month period ended November 30, 2023. Any reference in this Form 10-Q to a year refers to the fiscal year ended August 31st of that year, unless otherwise stated. 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 U.S. and Central Europe, CMC offers products and technologies to meet the critical reinforcement needs of the global construction sector. CMC’s solutions support early-stage construction across a wide variety of applications, including infrastructure, non-residential, residential, industrial and energy generation and transmission. Recently Issued Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). ASU 2024-03 requires disaggregated income statement expense disclosures related to functional or natural expense line items within continuing operations. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, and requires either prospective or retrospective adoption. Early adoption is permitted. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

CHANGES IN BUSINESS

CHANGES IN BUSINESS	3 Months Ended
	Nov. 30, 2024
Business Combinations [Abstract]
Changes in Business	NOTE 2. CHANGES IN BUSINESS

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Nov. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income (loss)	NOTE 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"): Three Months Ended November 30, 2024 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2024 $ (76,854) $ 3,614 $ (12,712) $ (85,952) Other comprehensive income (loss) before reclassifications (1) (34,957) 420 (10) (34,547) Reclassification for gain (2) — (1,356) — (1,356) Net other comprehensive loss (34,957) (936) (10) (35,903) Balance, November 30, 2024 $ (111,811) $ 2,678 $ (12,722) $ (121,855) Three Months Ended November 30, 2023 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2023 $ (126,045) $ 135,257 $ (12,990) $ (3,778) Other comprehensive income (loss) before reclassifications (1) 23,493 (42,945) (9) (19,461) Reclassification for gain (2) — (1,499) — (1,499) Net other comprehensive income (loss) 23,493 (44,444) (9) (20,960) Balance, November 30, 2023 $ (102,552) $ 90,813 $ (12,999) $ (24,738) __________________________________ (1) Other comprehensive income (loss) ("OCI") before reclassifications from derivatives is presented net of an immaterial income tax impact for the three months ended November 30, 2024 and net of income tax benefit of $10.1 million for the three months ended November 30, 2023. OCI before reclassifications from defined benefit pension plans is presented net of immaterial income tax impacts for each period presented.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Nov. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	NOTE 4. REVENUE RECOGNITION The majority of the Company's revenue 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. See Note 13, Segment Information, for further information about disaggregated revenue by the Company's major product lines. Certain revenue from the Company's downstream products in the North America Steel Group segment is not recognized at a point in time. Revenue resulting from sales of fabricated rebar in the North America Steel Group segment is recognized over time, as discussed below. Revenue resulting from sales of other downstream products in the North America Steel Group segment is recognized at the time of billing under an available practical expedient. Each of the North America Steel Group segment's fabrication contracts represents a single performance obligation. Revenue from certain fabrication contracts for which the Company provides fabricated product and installation services is recognized over time using an input measure, and these contracts represented 8% and 9% of net sales in the North America Steel Group segment in the three months ended November 30, 2024 and 2023, respectively. Revenue from fabrication contracts for which the Company does not provide installation services is recognized over time using an output measure, and these contracts represented 10% and 11% of net sales in the North America Steel Group segment in the three months ended November 30, 2024 and 2023, respectively. The following table provides information about assets and liabilities from contracts with customers: (in thousands) November 30, 2024 August 31, 2024 Contract assets (included in accounts receivable) $ 43,713 $ 57,007 Contract liabilities (included in other accrued expenses and payables) 41,314 35,356 The amount of revenue reclassified from August 31, 2024 contract liabilities during the three months ended November 30, 2024 was approximately $17.6 million. Remaining Performance Obligations As of November 30, 2024, revenue totaling $888.9 million has been allocated to remaining performance obligations in the North America Steel Group segment related to contracts for which revenue is recognized using an input or output measure. Of this amount, the Company estimates that approximately 81% of the remaining performance obligations will be recognized in the twelve months following November 30, 2024, and the remainder will be recognized during the subsequent twelve months. The duration of all other contracts in the North America Steel Group, Europe Steel Group and Emerging Businesses Group segments is typically less than one year.

INVENTORIES, NET

INVENTORIES, NET	3 Months Ended
	Nov. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	NOTE 5. INVENTORIES, NET The majority of the Company's inventories are in the form of semi-finished and finished steel products. Under the Company’s vertically integrated business models in the North America Steel Group segment and the Europe Steel Group segment, 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) November 30, 2024 August 31, 2024 Raw materials $ 255,036 $ 232,982 Work in process 7,712 5,390 Finished goods 697,340 733,383 Total $ 960,088 $ 971,755

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangibles	NOTE 6. GOODWILL AND OTHER INTANGIBLES Goodwill by reportable segment is detailed in the table below: (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Consolidated Goodwill, gross Balance, September 1, 2024 $ 126,915 $ 4,337 $ 264,568 $ 395,820 Foreign currency translation — (200) (1,188) (1,388) Balance, November 30, 2024 126,915 4,137 263,380 394,432 Accumulated impairment Balance, September 1, 2024 (9,542) (155) (493) (10,190) Foreign currency translation — 7 — 7 Balance, November 30, 2024 (9,542) (148) (493) (10,183) Goodwill, net Balance, September 1, 2024 117,373 4,182 264,075 385,630 Foreign currency translation — (193) (1,188) (1,381) Balance, November 30, 2024 $ 117,373 $ 3,989 $ 262,887 $ 384,249 Other indefinite-lived intangible assets consisted of the following: (in thousands) November 30, 2024 August 31, 2024 Trade names $ 54,110 $ 54,531 In-process research and development 2,400 2,400 Non-compete agreements 750 750 Total $ 57,260 $ 57,681 The change in the balance of intangible assets with indefinite lives from August 31, 2024 to November 30, 2024 was due to foreign currency translation adjustments. Other intangible assets subject to amortization are detailed in the following table: November 30, 2024 August 31, 2024 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technologies $ 152,375 $ 47,614 $ 104,761 $ 152,659 $ 43,540 $ 109,119 Customer relationships 74,641 18,116 56,525 75,000 16,118 58,882 Patents 8,055 6,850 1,205 7,970 6,595 1,375 Perpetual lease rights 6,108 1,019 5,089 6,404 1,049 5,355 Trade names 3,445 1,550 1,895 3,413 1,474 1,939 Non-compete agreements 2,300 1,948 352 2,300 1,859 441 Other 224 158 66 224 147 77 Total $ 247,148 $ 77,255 $ 169,893 $ 247,970 $ 70,782 $ 177,188 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 $6.8 million and $7.5 million in the three months ended November 30, 2024 and 2023, respectively, of which $4.3 million and $4.7 million, respectively, was recorded in cost of goods sold and the remainder was recorded in SG&A expenses in the condensed consolidated statements of earnings (loss). Estimated amortization expense for intangible assets for the next five years is as follows: (in thousands) Remainder of 2025 $ 19,947 2026 25,531 2027 25,434 2028 23,708 2029 19,135

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	3 Months Ended
	Nov. 30, 2024
Debt Disclosure [Abstract]
Credit arrangements	NOTE 7. CREDIT ARRANGEMENTS Long-term debt was as follows: (in thousands) Weighted Average Interest Rate as of November 30, 2024 November 30, 2024 August 31, 2024 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 Other 5.100% 11,910 11,910 Finance leases 5.230% 138,352 141,271 Total debt 1,195,322 1,198,241 Less unamortized debt issuance costs (12,631) (13,073) Plus unamortized bond premium 4,406 4,453 Total amounts outstanding 1,187,097 1,189,621 Less current maturities of long-term debt (38,561) (38,786) Long-term debt $ 1,148,536 $ 1,150,835 The Company's credit arrangements require compliance with certain covenants, including an interest coverage ratio and a debt to capitalization ratio. At November 30, 2024, the Company was in compliance with all financial covenants in its credit arrangements. Capitalized interest was immaterial during the three months ended November 30, 2024 and 2023. Credit Facilities On October 30, 2024, the Company entered into the First Amendment to the Sixth Amended and Restated Credit Agreement (as amended, the "Credit Agreement"), which, among other things, extended the maturity date of the Credit Agreement from October 26, 2027 to October 26, 2029. The Credit Agreement provides for a $600.0 million revolving credit facility (the "Revolver"). The Company had no amounts drawn under the Revolver at November 30, 2024 or August 31, 2024. The availability under the Revolver was reduced by outstanding stand-by letters of credit totaling $0.9 million at November 30, 2024 and August 31, 2024. The Company also has credit facilities in Poland through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At November 30, 2024 and August 31, 2024, CMCP's credit facilities totaled PLN 600.0 million, or $147.6 million and $154.8 million, respectively. There were no amounts outstanding under these facilities as of November 30, 2024 or August 31, 2024. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees and/or other financial assurance instruments, which totaled $2.3 million and $2.4 million at November 30, 2024 and August 31, 2024, respectively. Accounts Receivable Facility

DERIVATIVES

DERIVATIVES	3 Months Ended
	Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	NOTE 8. DERIVATIVES At November 30, 2024 and August 31, 2024, the notional values of the Company's commodity contract commitments were $467.0 million and $480.1 million, respectively. At November 30, 2024 and August 31, 2024, the notional values of the Company's foreign currency contract commitments were $236.0 million and $225.1 million, respectively. The following table provides information regarding the Company's commodity contract commitments at November 30, 2024: Commodity Position Total Aluminum Long 2,775 MT Aluminum Short 1,275 MT Copper Long 181 MT Copper Short 9,741 MT Electricity Long 3,056,000 MW(h) Natural Gas Long 5,070,750 MMBtu __________________________________ MT = Metric ton MW(h) = Megawatt hour MMBtu = Million British thermal unit The following table summarizes the location and amounts of the fair value of the Company's derivative instruments reported in the condensed consolidated balance sheets: (in thousands) Primary Location November 30, 2024 August 31, 2024 Derivative assets: Commodity Prepaid and other current assets $ 11,254 $ 9,823 Commodity Other noncurrent assets 26,945 30,402 Foreign exchange Prepaid and other current assets 1,746 419 Derivative liabilities: Commodity Other accrued expenses and payables $ 1,932 $ 3,445 Commodity Other noncurrent liabilities 38 157 Foreign exchange Other accrued expenses and payables 441 1,885 The following table summarizes activities related to the Company's derivatives not designated as hedging instruments recognized in the condensed consolidated statements of earnings (loss). All other activity related to the Company's derivatives not designated as hedging instruments was immaterial for the periods presented. Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Three Months Ended November 30, Primary Location 2024 2023 Commodity Cost of goods sold $ 3,742 $ (72) Foreign exchange SG&A expenses (3,172) 3,539 The following tables summarize activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the condensed consolidated statements of comprehensive income (loss) and condensed consolidated statements of earnings (loss). Amounts presented do not include the effects of foreign currency translation adjustments. Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI, Net of Income Taxes (in thousands) Three Months Ended November 30, 2024 2023 Commodity $ 412 $ (42,952) Foreign exchange 8 7 Gain on Derivatives Designated as Cash Flow Hedging Instruments Reclassified from AOCI into Net Earnings (Loss) (in thousands) Three Months Ended November 30, Primary Location 2024 2023 Commodity Cost of goods sold $ 1,573 $ 1,765 Foreign exchange SG&A expenses 65 61

FAIR VALUE

FAIR VALUE	3 Months Ended
	Nov. 30, 2024
Fair Value Disclosures [Abstract]
Fair value	NOTE 9. FAIR VALUE The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Levels within the hierarchy are defined within Note 1, Nature of Operations and Summary of Significant Accounting Policies, to the consolidated financial statements in the 2024 Form 10-K. The Company presents the fair value of its derivative contracts on a net-by-counterparty basis when a legal right to offset exists under an enforceable netting agreement. The following table summarizes 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 November 30, 2024: Assets: Investment deposit accounts (1) $ 709,450 $ 709,450 $ — $ — Commodity derivative assets (2) 38,199 4,896 — 33,303 Foreign exchange derivative assets (2) 1,746 — 1,746 — Liabilities: Commodity derivative liabilities (2) 1,970 1,970 — — Foreign exchange derivative liabilities (2) 441 — 441 — As of August 31, 2024: Assets: Investment deposit accounts (1) $ 718,110 $ 718,110 $ — $ — Commodity derivative assets (2) 40,225 2,196 — 38,029 Foreign exchange derivative assets (2) 419 — 419 — Liabilities: Commodity derivative liabilities (2) 3,602 3,602 — — Foreign exchange derivative liabilities (2) 1,885 — 1,885 — __________________________________ (1) Investment deposit accounts are short-term in nature, and the value is determined by principal plus interest. The investment portfolio mix can change each period based on the Company's assessment of investment options. (2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Derivatives classified as Level 3 are described below. Further discussion regarding the Company's use of derivative instruments is included in Note 8, Derivatives. The fair value estimate of the Level 3 commodity derivatives is based on internally developed discounted cash flow models primarily utilizing unobservable inputs for which there is little or no market data. The Company forecasts future energy rates using a range of historical prices (the "floating rate"), which 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 the fair value measurement. The following table summarizes the range of floating rates used to measure the fair value of the Level 3 commodity derivatives at November 30, 2024 and August 31, 2024, which are applied uniformly across each of our Level 3 commodity derivatives: Floating rate (PLN) Low High Average November 30, 2024 324 518 406 August 31, 2024 324 510 405 Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivatives recognized in the condensed consolidated statements of comprehensive income (loss). 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 unrealize d gains and losses in OCI in the three months ended November 30, 2024 and 2023. (in thousands) Three Months Ended November 30, 2024 Balance, September 1, 2024 $ 38,029 Total activity, realized and unrealized: Unrealized holding loss before reclassification (1) (1,691) Reclassification for gain included in net loss (2) (3,035) Balance, November 30, 2024 $ 33,303 (in thousands) Three Months Ended November 30, 2023 Balance, September 1, 2023 $ 194,425 Total activity, realized and unrealized: Unrealized holding loss before reclassification (1) (47,277) Reclassification for gain included in net earnings (2) (2,791) Balance, November 30, 2023 $ 144,357 __________________________________ (1) Unrealized holding losses, net of foreign currency translation, less amounts reclassified are included in net unrealized holding gain (loss) on derivatives in the condensed consolidated statements of comprehensive income (loss). (2) Gains included in net earnings (loss) are recorded in cost of goods sold in the condensed consolidated statements of earnings (loss). There were no material non-recurring fair value remeasurements during the three months ended November 30, 2024 or 2023. 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 $965.6 million, respectively, at November 30, 2024, and $1.0 billion and $962.8 million, respectively, at August 31, 2024. 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.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	3 Months Ended
	Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based compensation plans	NOTE 10. STOCK-BASED COMPENSATION PLANS The Company's stock-based compensation plans are described in Note 13, Stock-Based Compensation Plans, to the consolidated financial statements in the 2024 Form 10-K. In general, restricted stock units awarded to executive officers and other employees vest ratably over a period of three years. Subject to the achievement of performance targets established by the Compensation Committee of the Company's Board of Directors (the "Board"), performance stock units vest after a period of three years. Information for restricted stock units and performance stock units accounted for as equity awards during the three months ended November 30, 2024 is as follows: Shares Weighted Average Outstanding as of August 31, 2024 1,548,586 $ 43.52 Granted 1,028,463 48.05 Vested (1,095,813) 38.87 Forfeited (41,545) 46.64 Outstanding as of November 30, 2024 1,439,691 $ 50.20 The Company granted 172,992 equivalent shares in the form of restricted stock units and performance stock units accounted for as liability awards during the three months ended November 30, 2024. At November 30, 2024, the Company had outstanding 360,393 equivalent shares accounted for under the liability method. The Company expects 341,851 equivalent shares to vest.

STOCKHOLDERS EQUITY AND EARNING

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE	3 Months Ended
	Nov. 30, 2024
Earnings Per Share [Abstract]
Stockholder's equity and earnings per share	NOTE 11. STOCKHOLDERS' EQUITY AND EARNINGS (LOSS) PER SHARE The Company's calculation of basic earnings (loss) per share ("EPS") and diluted EPS are described in Note 16, Earnings Per Share, to the consolidated financial statements in the 2024 Form 10-K. The calculations of basic and diluted EPS were as follows: Three Months Ended November 30, (in thousands, except share and per share data) 2024 2023 Net earnings (loss) $ (175,718) $ 176,273 Average basic shares outstanding 114,053,455 116,771,939 Effect of dilutive securities — 1,582,974 Average diluted shares outstanding 114,053,455 118,354,913 Earnings (loss) per share: Basic $ (1.54) $ 1.51 Diluted (1.54) 1.49 For the three months ended November 30, 2024, there were 1,413,248 shares that could potentially dilute basic EPS in the future that were not included in the computation of average diluted shares outstanding due to the Company's net loss position. For the three months ended November 30, 2023, the Company had immaterial anti-dilutive shares, which were not included in the computation of average diluted shares outstanding. In October 2021, the Board approved a share repurchase program under which the Company was authorized to repurchase up to $350.0 million of shares of CMC common stock. In January 2024, the Board authorized an increase of $500.0 million to the existing share repurchase program. The share repurchase program does not require the Company to purchase any dollar amount or number of shares of CMC common stock and may be modified, suspended, extended or terminated by the Company at any time without prior notice. During the three months ended November 30, 2024, the Company repurchased 919,481 shares of

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	NOTE 12. 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. Legal Proceedings On October 30, 2020, plaintiff Pacific Steel Group ("PSG") filed a suit in the United States District Court for the Northern District of California (the "Northern District Court") alleging that CMC, CMC Steel Fabricators, Inc. and CMC Steel US, LLC violated the federal and California state antitrust laws and California common law by entering into an exclusivity agreement for certain steel mill equipment manufactured by one of the Company’s equipment suppliers. On November 5, 2024, a jury returned a verdict in favor of PSG in the amount of $110.0 million, which the Northern District Court, in entering its judgment on the verdict, subsequently trebled as a matter of law. PSG will also be entitled to petition for and recover its attorneys' fees, costs and post-judgment interest. The Company is confident it conducted its business appropriately and intends to vigorously pursue all reasonably available avenues to have the verdict and judgment overturned. On December 20, 2024, CMC, CMC Steel Fabricators, Inc. and CMC Steel US, LLC filed a motion with the Northern District Court challenging the jury’s verdict and requesting a new trial. However, as a judgment in favor of PSG was rendered, it was determined that there was a probable and reasonably estimable loss, which was recorded as an expense within the condensed consolidated financial statements. This $350.0 million expense, which represents the Company's estimate of its current understanding of the PSG judgment, PSG's attorneys' fees and other related costs, was included within litigation expense in the condensed consolidated statements of earnings (loss) and was classified as a current liability in the condensed consolidated balance sheets because the timing of the potential payment is uncertain. All other legal expenses for the three months ended November 30, 2024 and 2023 are reported within SG&A expenses. If the verdict and judgment are overturned either as a result of post-trial motions or through the appeals process, the expense and related liability will be reversed in the same period the verdict and judgment are overturned. The Company's litigation defense costs are expensed as incurred. Although the Company is vigorously pursuing a reversal of the jury’s verdict and the judgment, the ultimate resolution is uncertain. On March 13, 2022, PSG filed a second suit in the San Diego County Superior Court of California alleging that CMC Steel Fabricators, Inc., CMC Steel US, LLC, and CMC Rebar West (which later merged into CMC Steel Fabricators, Inc.) violated California state antitrust and unfair competition laws by bidding below their costs for rebar furnish-and-install projects in California to hamper PSG's ability to win jobs and to reduce PSG’s profitability. These allegations were initially brought in PSG's lawsuit in the Northern District Court, but were dismissed without prejudice by the Northern District Court for lack of jurisdiction. This second lawsuit was later removed to the United States District Court for the Southern District of California. There, PSG seeks, among other things, a jury trial on its claims in addition to injunctive relief, compensatory damages, fees and costs. Fact and expert discovery are complete. On November 12, 2024, CMC Steel Fabricators, Inc., CMC Steel US, LLC and CMC Rebar West filed a mot ion for summary judgment, and briefing remains ongoing. As of the date of this Form 10-Q, no trial has been scheduled. The Company is confident it conducted its business appropriately, believes it has substantial defenses and intends to vigorously defend against PSG's claims. The Company has not recorded any liability for this matter as it does not believe a loss is probable, and it cannot estimate any reasonably possible loss or range of possible loss. It is possible that an unfavorable resolution to this matter could have an adverse effect on the Company’s results of operations, financial position or cash flows. Other Matters

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Nov. 30, 2024
Segment Reporting [Abstract]
Business segments	NOTE 13. SEGMENT INFORMATION The Company structures its business into three reportable segments: North America Steel Group, Europe Steel Group and Emerging Businesses Group. See Note 1, Nature of Operations and Summary of Significant Accounting Policies to the consolidated financial statements in the 2024 Form 10-K, for more information about the reportable segments, including the types of products and services from which each reportable segment derives its net sales. Corporate and Other contains earnings or losses on assets and liabilities related to the Company's benefit restoration plan assets and short-term investments, expenses of the Company's corporate headquarters, litigation-related expenses, interest expense related to long-term debt and intercompany eliminations. Certain corporate administrative expenses are allocated to the segments based upon the nature of the expense. The following table summarizes certain financial information by reportable segment and Corporate and Other, as applicable: Three Months Ended November 30, (in thousands) 2024 2023 Net sales to external customers: North America Steel Group $ 1,518,637 $ 1,592,650 Europe Steel Group 209,407 225,175 Emerging Businesses Group 169,415 177,239 Reportable segments total 1,897,459 1,995,064 Corporate and Other 12,143 7,987 Total $ 1,909,602 $ 2,003,051 Adjusted EBITDA: North America Steel Group $ 188,205 $ 266,820 Europe Steel Group 25,839 38,942 Emerging Businesses Group 22,660 30,862 Reportable segments total $ 236,704 $ 336,624 November 30, 2024 August 31, 2024 Total assets: North America Steel Group $ 4,243,560 $ 4,219,603 Europe Steel Group 661,365 677,697 Emerging Businesses Group 841,310 861,025 Reportable segments total 5,746,235 5,758,325 Corporate and Other 1,026,164 1,059,514 Total $ 6,772,399 $ 6,817,839 The following table presents a reconciliation of net earnings (loss) to adjusted EBITDA for the reportable segments: Three Months Ended November 30, (in thousands) 2024 2023 Net earnings (loss) $ (175,718) $ 176,273 Interest expense 11,322 11,756 Income tax expense (benefit) (55,582) 48,422 Depreciation and amortization 70,437 69,186 Corporate and Other expenses 386,245 30,987 Adjusted EBITDA reportable segments $ 236,704 $ 336,624 Disaggregation of Revenue The following tables display net sales to external customers by reportable segment and Corporate and Other, disaggregated by major product: Three Months Ended November 30, 2024 (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Corporate and Other Total Major product: Raw materials $ 310,119 $ 5,285 $ — $ — $ 315,404 Steel products 625,465 162,137 — — 787,602 Downstream products 527,598 33,634 32,378 — 593,610 Construction products — — 75,981 — 75,981 Ground stabilization solutions — — 56,512 — 56,512 Other 55,455 8,351 4,544 12,143 80,493 Net sales to external customers 1,518,637 209,407 169,415 12,143 1,909,602 Intersegment net sales, eliminated in consolidation 16,112 617 11,793 (28,522) — Net sales $ 1,534,749 $ 210,024 $ 181,208 $ (16,379) $ 1,909,602 Three Months Ended November 30, 2023 (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Corporate and Other Total Major product: Raw materials $ 313,655 $ 3,714 $ — $ — $ 317,369 Steel products 657,760 175,532 — — 833,292 Downstream products 577,002 38,628 37,546 — 653,176 Construction products — — 77,759 — 77,759 Ground stabilization solutions — — 57,323 — 57,323 Other 44,233 7,301 4,611 7,987 64,132 Net sales to external customers 1,592,650 225,175 177,239 7,987 2,003,051 Intersegment net sales, eliminated in consolidation 19,637 576 4,787 (25,000) — Net sales $ 1,612,287 $ 225,751 $ 182,026 $ (17,013) $ 2,003,051

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Pay vs Performance Disclosure
Net earnings (loss)	$ (175,718)	$ 176,273

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 30, 2024
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 ACCO_2

NATURE OF OPERATIONS AND ACCOUNTING POLICIES (Policies)	3 Months Ended
	Nov. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") on a basis consistent with that used in the Annual Report on Form 10-K for the year ended August 31, 2024 (the "2024 Form 10-K") filed by Commercial Metals Company ("CMC," and together with its consolidated subsidiaries, the "Company") with the United States ("U.S.") Securities and Exchange Commission (the "SEC") and include all normal recurring adjustments necessary to present fairly the condensed consolidated balance sheets and the condensed consolidated statements of earnings (loss), comprehensive income (loss), cash flows and stockholders' equity for the periods indicated. These notes should be read in conjunction with the consolidated financial statements and notes included in the 2024 Form 10-K. The results of operations for the three month period ended November 30, 2024 are not necessarily indicative of the results expected for the full fiscal year. Any reference in this Quarterly Report on Form 10-Q for the quarter ended November 30, 2024 ("Form 10-Q") to the "corresponding period" or "comparable period" relates to the relevant three month period ended November 30, 2023. Any reference in this Form 10-Q to a year refers to the fiscal year ended August 31st of that year, unless otherwise stated. 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 U.S. and Central Europe, CMC offers products and technologies to meet the critical reinforcement needs of the global construction sector. CMC’s solutions support early-stage construction across a wide variety of applications, including infrastructure, non-residential, residential, industrial and energy generation and transmission.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). ASU 2024-03 requires disaggregated income statement expense disclosures related to functional or natural expense line items within continuing operations. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, and requires either prospective or retrospective adoption. Early adoption is permitted. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
Fair value measurement	The Company has established a fair value hierarchy which prioritizes the inputs to the valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement. Levels within the hierarchy are defined within Note 1, Nature of Operations and Summary of Significant Accounting Policies, to the consolidated financial statements in the 2024 Form 10-K.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Nov. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"): Three Months Ended November 30, 2024 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2024 $ (76,854) $ 3,614 $ (12,712) $ (85,952) Other comprehensive income (loss) before reclassifications (1) (34,957) 420 (10) (34,547) Reclassification for gain (2) — (1,356) — (1,356) Net other comprehensive loss (34,957) (936) (10) (35,903) Balance, November 30, 2024 $ (111,811) $ 2,678 $ (12,722) $ (121,855) Three Months Ended November 30, 2023 (in thousands) Foreign Currency Translation Derivatives Defined Benefit Pension Plans Total AOCI Balance, September 1, 2023 $ (126,045) $ 135,257 $ (12,990) $ (3,778) Other comprehensive income (loss) before reclassifications (1) 23,493 (42,945) (9) (19,461) Reclassification for gain (2) — (1,499) — (1,499) Net other comprehensive income (loss) 23,493 (44,444) (9) (20,960) Balance, November 30, 2023 $ (102,552) $ 90,813 $ (12,999) $ (24,738) __________________________________ (1) Other comprehensive income (loss) ("OCI") before reclassifications from derivatives is presented net of an immaterial income tax impact for the three months ended November 30, 2024 and net of income tax benefit of $10.1 million for the three months ended November 30, 2023. OCI before reclassifications from defined benefit pension plans is presented net of immaterial income tax impacts for each period presented.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Nov. 30, 2024
Revenue from Contract with Customer [Abstract]
Information avout Assets and Liabilities from Contracts with Customers	The following table provides information about assets and liabilities from contracts with customers: (in thousands) November 30, 2024 August 31, 2024 Contract assets (included in accounts receivable) $ 43,713 $ 57,007 Contract liabilities (included in other accrued expenses and payables) 41,314 35,356

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	3 Months Ended
	Nov. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories were as follows: (in thousands) November 30, 2024 August 31, 2024 Raw materials $ 255,036 $ 232,982 Work in process 7,712 5,390 Finished goods 697,340 733,383 Total $ 960,088 $ 971,755

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	Goodwill by reportable segment is detailed in the table below: (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Consolidated Goodwill, gross Balance, September 1, 2024 $ 126,915 $ 4,337 $ 264,568 $ 395,820 Foreign currency translation — (200) (1,188) (1,388) Balance, November 30, 2024 126,915 4,137 263,380 394,432 Accumulated impairment Balance, September 1, 2024 (9,542) (155) (493) (10,190) Foreign currency translation — 7 — 7 Balance, November 30, 2024 (9,542) (148) (493) (10,183) Goodwill, net Balance, September 1, 2024 117,373 4,182 264,075 385,630 Foreign currency translation — (193) (1,188) (1,381) Balance, November 30, 2024 $ 117,373 $ 3,989 $ 262,887 $ 384,249
Schedule of Indefinite-Lived Intangible Assets	Other indefinite-lived intangible assets consisted of the following: (in thousands) November 30, 2024 August 31, 2024 Trade names $ 54,110 $ 54,531 In-process research and development 2,400 2,400 Non-compete agreements 750 750 Total $ 57,260 $ 57,681
Schedule of Finite-Lived Intangible Assets	Other intangible assets subject to amortization are detailed in the following table: November 30, 2024 August 31, 2024 (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Developed technologies $ 152,375 $ 47,614 $ 104,761 $ 152,659 $ 43,540 $ 109,119 Customer relationships 74,641 18,116 56,525 75,000 16,118 58,882 Patents 8,055 6,850 1,205 7,970 6,595 1,375 Perpetual lease rights 6,108 1,019 5,089 6,404 1,049 5,355 Trade names 3,445 1,550 1,895 3,413 1,474 1,939 Non-compete agreements 2,300 1,948 352 2,300 1,859 441 Other 224 158 66 224 147 77 Total $ 247,148 $ 77,255 $ 169,893 $ 247,970 $ 70,782 $ 177,188
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense for intangible assets for the next five years is as follows: (in thousands) Remainder of 2025 $ 19,947 2026 25,531 2027 25,434 2028 23,708 2029 19,135

CREDIT ARRANGEMENTS (Tables)

CREDIT ARRANGEMENTS (Tables)	3 Months Ended
	Nov. 30, 2024
Debt Disclosure [Abstract]
Long-term debt, including the deferred gain from the termination of the interest rate swaps	Long-term debt was as follows: (in thousands) Weighted Average Interest Rate as of November 30, 2024 November 30, 2024 August 31, 2024 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 Other 5.100% 11,910 11,910 Finance leases 5.230% 138,352 141,271 Total debt 1,195,322 1,198,241 Less unamortized debt issuance costs (12,631) (13,073) Plus unamortized bond premium 4,406 4,453 Total amounts outstanding 1,187,097 1,189,621 Less current maturities of long-term debt (38,561) (38,786) Long-term debt $ 1,148,536 $ 1,150,835

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity contract commitments	The following table provides information regarding the Company's commodity contract commitments at November 30, 2024: Commodity Position Total Aluminum Long 2,775 MT Aluminum Short 1,275 MT Copper Long 181 MT Copper Short 9,741 MT Electricity Long 3,056,000 MW(h) Natural Gas Long 5,070,750 MMBtu __________________________________ MT = Metric ton MW(h) = Megawatt hour MMBtu = Million British thermal unit
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table summarizes the location and amounts of the fair value of the Company's derivative instruments reported in the condensed consolidated balance sheets: (in thousands) Primary Location November 30, 2024 August 31, 2024 Derivative assets: Commodity Prepaid and other current assets $ 11,254 $ 9,823 Commodity Other noncurrent assets 26,945 30,402 Foreign exchange Prepaid and other current assets 1,746 419 Derivative liabilities: Commodity Other accrued expenses and payables $ 1,932 $ 3,445 Commodity Other noncurrent liabilities 38 157 Foreign exchange Other accrued expenses and payables 441 1,885
Derivative instruments, gain (loss)	The following table summarizes activities related to the Company's derivatives not designated as hedging instruments recognized in the condensed consolidated statements of earnings (loss). All other activity related to the Company's derivatives not designated as hedging instruments was immaterial for the periods presented. Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) Three Months Ended November 30, Primary Location 2024 2023 Commodity Cost of goods sold $ 3,742 $ (72) Foreign exchange SG&A expenses (3,172) 3,539 The following tables summarize activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the condensed consolidated statements of comprehensive income (loss) and condensed consolidated statements of earnings (loss). Amounts presented do not include the effects of foreign currency translation adjustments. Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI, Net of Income Taxes (in thousands) Three Months Ended November 30, 2024 2023 Commodity $ 412 $ (42,952) Foreign exchange 8 7 Gain on Derivatives Designated as Cash Flow Hedging Instruments Reclassified from AOCI into Net Earnings (Loss) (in thousands) Three Months Ended November 30, Primary Location 2024 2023 Commodity Cost of goods sold $ 1,573 $ 1,765 Foreign exchange SG&A expenses 65 61

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Nov. 30, 2024
Fair Value Disclosures [Abstract]
Financial assets and financial liabilities measured at fair value on a recurring basis	The following table summarizes 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 November 30, 2024: Assets: Investment deposit accounts (1) $ 709,450 $ 709,450 $ — $ — Commodity derivative assets (2) 38,199 4,896 — 33,303 Foreign exchange derivative assets (2) 1,746 — 1,746 — Liabilities: Commodity derivative liabilities (2) 1,970 1,970 — — Foreign exchange derivative liabilities (2) 441 — 441 — As of August 31, 2024: Assets: Investment deposit accounts (1) $ 718,110 $ 718,110 $ — $ — Commodity derivative assets (2) 40,225 2,196 — 38,029 Foreign exchange derivative assets (2) 419 — 419 — Liabilities: Commodity derivative liabilities (2) 3,602 3,602 — — Foreign exchange derivative liabilities (2) 1,885 — 1,885 — __________________________________ (1) Investment deposit accounts are short-term in nature, and the value is determined by principal plus interest. The investment portfolio mix can change each period based on the Company's assessment of investment options. (2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Derivatives classified as Level 3 are described below. Further discussion regarding the Company's use of derivative instruments is included in Note 8, Derivatives. Floating rate (PLN) Low High Average November 30, 2024 324 518 406 August 31, 2024 324 510 405
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 condensed consolidated statements of comprehensive income (loss). 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 unrealize d gains and losses in OCI in the three months ended November 30, 2024 and 2023. (in thousands) Three Months Ended November 30, 2024 Balance, September 1, 2024 $ 38,029 Total activity, realized and unrealized: Unrealized holding loss before reclassification (1) (1,691) Reclassification for gain included in net loss (2) (3,035) Balance, November 30, 2024 $ 33,303 (in thousands) Three Months Ended November 30, 2023 Balance, September 1, 2023 $ 194,425 Total activity, realized and unrealized: Unrealized holding loss before reclassification (1) (47,277) Reclassification for gain included in net earnings (2) (2,791) Balance, November 30, 2023 $ 144,357 __________________________________ (1) Unrealized holding losses, net of foreign currency translation, less amounts reclassified are included in net unrealized holding gain (loss) on derivatives in the condensed consolidated statements of comprehensive income (loss). (2) Gains included in net earnings (loss) are recorded in cost of goods sold in the condensed consolidated statements of earnings (loss).

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	3 Months Ended
	Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Restricted Stock Unit, Activity	Information for restricted stock units and performance stock units accounted for as equity awards during the three months ended November 30, 2024 is as follows: Shares Weighted Average Outstanding as of August 31, 2024 1,548,586 $ 43.52 Granted 1,028,463 48.05 Vested (1,095,813) 38.87 Forfeited (41,545) 46.64 Outstanding as of November 30, 2024 1,439,691 $ 50.20

STOCKHOLDERS_ EQUITY AND EARNIN

STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE (Tables)	3 Months Ended
	Nov. 30, 2024
Earnings Per Share [Abstract]
Calculations of the basic and diluted earnings per share from continuing operations	The calculations of basic and diluted EPS were as follows: Three Months Ended November 30, (in thousands, except share and per share data) 2024 2023 Net earnings (loss) $ (175,718) $ 176,273 Average basic shares outstanding 114,053,455 116,771,939 Effect of dilutive securities — 1,582,974 Average diluted shares outstanding 114,053,455 118,354,913 Earnings (loss) per share: Basic $ (1.54) $ 1.51 Diluted (1.54) 1.49

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Nov. 30, 2024
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, as applicable: Three Months Ended November 30, (in thousands) 2024 2023 Net sales to external customers: North America Steel Group $ 1,518,637 $ 1,592,650 Europe Steel Group 209,407 225,175 Emerging Businesses Group 169,415 177,239 Reportable segments total 1,897,459 1,995,064 Corporate and Other 12,143 7,987 Total $ 1,909,602 $ 2,003,051 Adjusted EBITDA: North America Steel Group $ 188,205 $ 266,820 Europe Steel Group 25,839 38,942 Emerging Businesses Group 22,660 30,862 Reportable segments total $ 236,704 $ 336,624
Reconciliations of earnings from continuing operations to adjusted operating profit	The following table presents a reconciliation of net earnings (loss) to adjusted EBITDA for the reportable segments: Three Months Ended November 30, (in thousands) 2024 2023 Net earnings (loss) $ (175,718) $ 176,273 Interest expense 11,322 11,756 Income tax expense (benefit) (55,582) 48,422 Depreciation and amortization 70,437 69,186 Corporate and Other expenses 386,245 30,987 Adjusted EBITDA reportable segments $ 236,704 $ 336,624
Net sales by major product	The following tables display net sales to external customers by reportable segment and Corporate and Other, disaggregated by major product: Three Months Ended November 30, 2024 (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Corporate and Other Total Major product: Raw materials $ 310,119 $ 5,285 $ — $ — $ 315,404 Steel products 625,465 162,137 — — 787,602 Downstream products 527,598 33,634 32,378 — 593,610 Construction products — — 75,981 — 75,981 Ground stabilization solutions — — 56,512 — 56,512 Other 55,455 8,351 4,544 12,143 80,493 Net sales to external customers 1,518,637 209,407 169,415 12,143 1,909,602 Intersegment net sales, eliminated in consolidation 16,112 617 11,793 (28,522) — Net sales $ 1,534,749 $ 210,024 $ 181,208 $ (16,379) $ 1,909,602 Three Months Ended November 30, 2023 (in thousands) North America Steel Group Europe Steel Group Emerging Businesses Group Corporate and Other Total Major product: Raw materials $ 313,655 $ 3,714 $ — $ — $ 317,369 Steel products 657,760 175,532 — — 833,292 Downstream products 577,002 38,628 37,546 — 653,176 Construction products — — 77,759 — 77,759 Ground stabilization solutions — — 57,323 — 57,323 Other 44,233 7,301 4,611 7,987 64,132 Net sales to external customers 1,592,650 225,175 177,239 7,987 2,003,051 Intersegment net sales, eliminated in consolidation 19,637 576 4,787 (25,000) — Net sales $ 1,612,287 $ 225,751 $ 182,026 $ (17,013) $ 2,003,051

CHANGES IN BUSINESS - Narrative

CHANGES IN BUSINESS - Narrative (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - Rebar Fabrication Facility $ in Millions	Nov. 22, 2024 USD ($)
Business Acquisition [Line Items]
Gross consideration	$ 6.9
Cash proceeds	5
Seller financing receivable	$ 1.9

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI by Components) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (85,952)	$ (3,778)
Other comprehensive income (loss) before reclassifications(1)	(34,547)	(19,461)
Reclassification for gain(2)	(1,356)	(1,499)
Total other comprehensive loss, net of income taxes	(35,903)	(20,960)
Ending balance	(121,855)	(24,738)
Other comprehensive income, before reclassifications from derivatives, tax expense		10,100
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(76,854)	(126,045)
Other comprehensive income (loss) before reclassifications(1)	(34,957)	23,493
Reclassification for gain(2)	0	0
Total other comprehensive loss, net of income taxes	(34,957)	23,493
Ending balance	(111,811)	(102,552)
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	3,614	135,257
Other comprehensive income (loss) before reclassifications(1)	420	(42,945)
Reclassification for gain(2)	(1,356)	(1,499)
Total other comprehensive loss, net of income taxes	(936)	(44,444)
Ending balance	2,678	90,813
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(12,712)	(12,990)
Other comprehensive income (loss) before reclassifications(1)	(10)	(9)
Reclassification for gain(2)	0	0
Total other comprehensive loss, net of income taxes	(10)	(9)
Ending balance	$ (12,722)	$ (12,999)

REVENUE RECOGNITION - Revenue R

REVENUE RECOGNITION - Revenue Recognition Method (Details) - North America Steel Group - Recognized over Time	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Fabricated Product and Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	8%	9%
Fabricated Product without Installation Services
Disaggregation of Revenue [Line Items]
Contract as percent of total segment revenue (percent)	10%	11%

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract assets (included in other current assets)	$ 43,713	$ 57,007
Contract liabilities (included in accrued expenses and other payables)	$ 41,314	$ 35,356

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) $ in Millions	3 Months Ended
	Nov. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue reclassified from contract liabilities	$ 17.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 888.9
Remaining performance obligation (percent)	81%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 255,036	$ 232,982
Work in process	7,712	5,390
Finished goods	697,340	733,383
Total	$ 960,088	$ 971,755

INVENTORIES, NET - Narrative (D

INVENTORIES, NET - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Inventory Disclosure [Abstract]
Write-down of inventory	$ 8,950	$ 10,655

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	$ 395,820
Foreign currency translation	(1,388)
Goodwill, gross, ending balance	394,432
Accumulated impairment losses, beginning balance	10,190
Accumulated impairment, foreign currency translation	7
Accumulated impairment losses, ending balance	10,183
Goodwill, net, beginning balance	385,630
Foreign currency translation	(1,381)
Goodwill, net, ending balance	384,249
North America Steel Group
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	126,915
Foreign currency translation	0
Goodwill, gross, ending balance	126,915
Accumulated impairment losses, beginning balance	9,542
Accumulated impairment, foreign currency translation	0
Accumulated impairment losses, ending balance	9,542
Goodwill, net, beginning balance	117,373
Foreign currency translation	0
Goodwill, net, ending balance	117,373
Europe Steel Group
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	4,337
Foreign currency translation	(200)
Goodwill, gross, ending balance	4,137
Accumulated impairment losses, beginning balance	155
Accumulated impairment, foreign currency translation	7
Accumulated impairment losses, ending balance	148
Goodwill, net, beginning balance	4,182
Foreign currency translation	(193)
Goodwill, net, ending balance	3,989
Emerging Businesses Group
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	264,568
Foreign currency translation	(1,188)
Goodwill, gross, ending balance	263,380
Accumulated impairment losses, beginning balance	493
Accumulated impairment, foreign currency translation	0
Accumulated impairment losses, ending balance	493
Goodwill, net, beginning balance	264,075
Foreign currency translation	(1,188)
Goodwill, net, ending balance	$ 262,887

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Schedule of Indefinite Lived Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Indefinite-Lived Intangible Assets [Line Items]
Other indefinite-lived intangible assets	$ 57,260	$ 57,681
Trade names
Indefinite-Lived Intangible Assets [Line Items]
Other indefinite-lived intangible assets	54,110	54,531
In Process Research and Development
Indefinite-Lived Intangible Assets [Line Items]
Other indefinite-lived intangible assets	2,400	2,400
Non-compete agreements
Indefinite-Lived Intangible Assets [Line Items]
Other indefinite-lived intangible assets	$ 750	$ 750

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 247,148	$ 247,970
Accumulated Amortization	77,255	70,782
Net	169,893	177,188
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	152,375	152,659
Accumulated Amortization	47,614	43,540
Net	104,761	109,119
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	74,641	75,000
Accumulated Amortization	18,116	16,118
Net	56,525	58,882
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,055	7,970
Accumulated Amortization	6,850	6,595
Net	1,205	1,375
Perpetual lease rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,108	6,404
Accumulated Amortization	1,019	1,049
Net	5,089	5,355
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,445	3,413
Accumulated Amortization	1,550	1,474
Net	1,895	1,939
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,300	2,300
Accumulated Amortization	1,948	1,859
Net	352	441
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	224	224
Accumulated Amortization	158	147
Net	$ 66	$ 77

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 6.8	$ 7.5
Amortization in cost of goods sold	$ 4.3	$ 4.7

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLES - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2025	$ 19,947
2026	25,531
2027	25,434
2028	23,708
2029	$ 19,135

CREDIT ARRANGEMENTS (Schedule o

CREDIT ARRANGEMENTS (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Debt Instrument [Line Items]
Total debt	$ 1,195,322	$ 1,198,241
Less debt issuance costs	(12,631)	(13,073)
Total amounts outstanding	1,187,097	1,189,621
Less current maturities of long-term debt	(38,561)	(38,786)
Long-term debt	$ 1,148,536	1,150,835
2030 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.125%
Total debt	$ 300,000	300,000
2031 Notes
Debt Instrument [Line Items]
Weighted average interest rate	3.875%
Total debt	$ 300,000	300,000
2032 Notes
Debt Instrument [Line Items]
Weighted average interest rate	4.375%
Total debt	$ 300,000	300,000
Series 2022 Bonds, due 2047
Debt Instrument [Line Items]
Weighted average interest rate	4%
Total debt	$ 145,060	145,060
Plus unamortized bond premium	$ 4,406	4,453
Other
Debt Instrument [Line Items]
Weighted average interest rate	5.10%
Total debt	$ 11,910	11,910
Finance leases
Debt Instrument [Line Items]
Weighted average interest rate	5.23%
Total debt	$ 138,352	$ 141,271

CREDIT ARRANGEMENTS (Narrative)

CREDIT ARRANGEMENTS (Narrative) (Details) zł in Millions	Nov. 30, 2024 USD ($)	Nov. 30, 2024 PLN (zł)	Aug. 31, 2024 USD ($)
CMCP
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity	$ 147,600,000	zł 600	$ 154,800,000
Revolving credit facility, amount drawn	0		0
Poland Program
Debt Instrument [Line Items]
Transfer of accounts receivable program limit	70,900,000	zł 288	74,300,000
Line of Credit | Revolving credit facility
Debt Instrument [Line Items]
Face amount of debt	600,000,000
Standby Letters of Credit
Debt Instrument [Line Items]
Stand by letters of credit outstanding amount	900,000
Poland Term Loan | CMCP
Debt Instrument [Line Items]
Stand by letters of credit outstanding amount	$ 2,300,000		$ 2,400,000

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2024	Aug. 31, 2024
Derivative [Line Items]
Cash flow hedging instruments expected to be reclassified into earnings within the next twelve months	$ 5.9
Foreign exchange
Derivative [Line Items]
Derivative notional amount	236	$ 225.1
Commodity
Derivative [Line Items]
Derivative notional amount	$ 467	$ 480.1

DERIVATIVES (Commodity Contract

DERIVATIVES (Commodity Contract Commitments) (Details) MWh in Thousands	3 Months Ended
	Nov. 30, 2024 MMBTU MWh t
Aluminum | Long
Derivative [Line Items]
Commodity contract commitments	2,775
Aluminum | Short
Derivative [Line Items]
Commodity contract commitments	1,275
Copper | Long
Derivative [Line Items]
Commodity contract commitments	181
Copper | Short
Derivative [Line Items]
Commodity contract commitments	9,741
Electricity | Long
Derivative [Line Items]
Commodity contract commitment, energy | MWh	3,056
Natural Gas | Long
Derivative [Line Items]
Commodity contract commitment, energy | MMBTU	5,070,750

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivative Location On Balance Sheet (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Commodity | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	$ 11,254	$ 9,823
Commodity | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	26,945	30,402
Commodity | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	1,932	3,445
Commodity | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	38	157
Foreign exchange | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative assets (other current assets)	1,746	419
Foreign exchange | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities (accrued expenses and other payables)	$ 441	$ 1,885

DERIVATIVES (Derivatives Not De

DERIVATIVES (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	$ 420	$ (42,945)
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	412	(42,952)
Commodity | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)	3,742	(72)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	1,573	1,765
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	8	7
Foreign exchange | SG&A expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)	(3,172)	3,539
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	$ 65	$ 61

FAIR VALUE (Financial Assets an

FAIR VALUE (Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($)	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023
Significant Unobservable Inputs (Level 3) | Minimum | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	$ 324		$ 324
Significant Unobservable Inputs (Level 3) | Maximum | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	518		510
Significant Unobservable Inputs (Level 3) | Average | Commodity | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Energy floating rate	406		$ 405
Fair value, measurements, recurring | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	709,450,000	$ 718,110,000
Fair value, measurements, recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	38,199,000	40,225,000
Derivative liabilities	1,970,000	3,602,000
Fair value, measurements, recurring | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,746,000	419,000
Derivative liabilities	441,000	1,885,000
Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	709,450,000	718,110,000
Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	4,896,000	2,196,000
Derivative liabilities	1,970,000	3,602,000
Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,746,000	419,000
Derivative liabilities	441,000	1,885,000
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Money market investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments	0	0
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	33,303,000	38,029,000
Derivative liabilities	0	0
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | Foreign exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Fair Value (Reconciliation of C

Fair Value (Reconciliation of Commodity Derivative Recognized in Other Comprehensive Income) (Details) - Commodity - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 38,029	$ 194,425
Unrealized holding gain before reclassification	(1,691)	(47,277)
Reclassification for gain included in net earnings	(3,035)	(2,791)
Ending balance	$ 33,303	$ 144,357

FAIR VALUE - Narrative (Details

FAIR VALUE - Narrative (Details) - USD ($) $ in Millions	Nov. 30, 2024	Aug. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt	$ 1,000	$ 1,000
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt	$ 965.6	$ 962.8

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years	3 years
Stock-based compensation	$ 10,232	$ 8,059	$ 8,100
Liability method awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	172,992
Equivalent shares outstanding	360,393
Equivalent shares expected to vest	341,851

STOCK-BASED COMPENSATION PLAN_3

STOCK-BASED COMPENSATION PLANS - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Nov. 30, 2024 $ / shares shares
Shares
Beginning balance (in shares) | shares	1,548,586
Granted (in shares) | shares	1,028,463
Vested (in shares) | shares	(1,095,813)
Forfeited (in shares) | shares	(41,545)
Ending balance (in shares) | shares	1,439,691
Weighted Average Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 43.52
Granted (in dollars per share) | $ / shares	48.05
Vested (in dollars per share) | $ / shares	38.87
Forfeited (in dollars per share) | $ / shares	46.64
Ending balance (in dollars per share) | $ / shares	$ 50.20

STOCKHOLDERS EQUITY AND EARNI_2

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE (Calculations of the Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Earnings Per Share [Abstract]
Net earnings (loss)	$ (175,718)	$ 176,273
Average basic shares outstanding (shares)	114,053,455	116,771,939
Effect of dilutive securities (shares)	0	1,582,974
Average diluted shares outstanding (shares)	114,053,455	118,354,913
Earnings (loss) per share:
Basic (in USD per share)	$ (1.54)	$ 1.51
Diluted (in USD per share)	$ (1.54)	$ 1.49
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,413,248

STOCKHOLDERS EQUITY AND EARNI_3

STOCKHOLDERS EQUITY AND EARNINGS PER SHARE (Narrative) (Details) - USD ($)	3 Months Ended
	Nov. 30, 2024	Jan. 31, 2024	Oct. 31, 2021
Earnings Per Share [Abstract]
Stock repurchase program, authorized amount			$ 350,000,000
Stock repurchase program, authorized increase		$ 500,000,000
Treasury stock acquired, shares	919,481
Treasury stock acquired (in dollars per share)	$ 54.83
Stock repurchase program, remaining authorized repurchase amount	$ 353,400,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended
	Nov. 05, 2024	Nov. 30, 2024	Nov. 30, 2023	Aug. 31, 2024
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 110,000
Litigation expense	$ 350,000	$ 350,000	$ 0
CERCLA sites
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		3,500		$ 3,400
Accrued environmental loss contingencies, noncurrent		$ 2,100		$ 1,900

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	3 Months Ended
	Nov. 30, 2024 segments
Segment Reporting [Abstract]
Number of reporting segments	3

BUSINESS SEGMENTS (Summary of C

BUSINESS SEGMENTS (Summary of Certain Financial Information from Continuing Operations by Reportable Segment and Major Product) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Aug. 31, 2024
Segment Reporting Information [Line Items]
Net sales	$ 1,909,602	$ 2,003,051
Adjusted EBITDA reportable segments	236,704	336,624
Total assets	6,772,399	6,817,839	$ 6,817,839
Raw materials
Segment Reporting Information [Line Items]
Net sales	315,404	317,369
Steel products
Segment Reporting Information [Line Items]
Net sales	787,602	833,292
Downstream products
Segment Reporting Information [Line Items]
Net sales	593,610	653,176
Construction products
Segment Reporting Information [Line Items]
Net sales	75,981	77,759
Ground stabilization solutions
Segment Reporting Information [Line Items]
Net sales	56,512	57,323
Other
Segment Reporting Information [Line Items]
Net sales	80,493	64,132
North America Steel Group
Segment Reporting Information [Line Items]
Net sales	1,534,749	1,612,287
Europe Steel Group
Segment Reporting Information [Line Items]
Net sales	210,024	225,751
Emerging Businesses Group
Segment Reporting Information [Line Items]
Net sales	181,208	182,026
Corporate and Other
Segment Reporting Information [Line Items]
Net sales	(16,379)	(17,013)
Segments
Segment Reporting Information [Line Items]
Net sales	1,897,459	1,995,064
Adjusted EBITDA reportable segments	236,704	336,624
Total assets	5,746,235	5,758,325
Segments | North America Steel Group
Segment Reporting Information [Line Items]
Net sales	1,518,637	1,592,650
Adjusted EBITDA reportable segments	188,205	266,820
Total assets	4,243,560	4,219,603
Segments | North America Steel Group | Raw materials
Segment Reporting Information [Line Items]
Net sales	310,119	313,655
Segments | North America Steel Group | Steel products
Segment Reporting Information [Line Items]
Net sales	625,465	657,760
Segments | North America Steel Group | Downstream products
Segment Reporting Information [Line Items]
Net sales	527,598	577,002
Segments | North America Steel Group | Construction products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | North America Steel Group | Ground stabilization solutions
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | North America Steel Group | Other
Segment Reporting Information [Line Items]
Net sales	55,455	44,233
Segments | Europe Steel Group
Segment Reporting Information [Line Items]
Net sales	209,407	225,175
Adjusted EBITDA reportable segments	25,839	38,942
Total assets	661,365	677,697
Segments | Europe Steel Group | Raw materials
Segment Reporting Information [Line Items]
Net sales	5,285	3,714
Segments | Europe Steel Group | Steel products
Segment Reporting Information [Line Items]
Net sales	162,137	175,532
Segments | Europe Steel Group | Downstream products
Segment Reporting Information [Line Items]
Net sales	33,634	38,628
Segments | Europe Steel Group | Construction products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Europe Steel Group | Ground stabilization solutions
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Europe Steel Group | Other
Segment Reporting Information [Line Items]
Net sales	8,351	7,301
Segments | Emerging Businesses Group
Segment Reporting Information [Line Items]
Net sales	169,415	177,239
Adjusted EBITDA reportable segments	22,660	30,862
Total assets	841,310	861,025
Segments | Emerging Businesses Group | Raw materials
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Emerging Businesses Group | Steel products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Emerging Businesses Group | Downstream products
Segment Reporting Information [Line Items]
Net sales	32,378	37,546
Segments | Emerging Businesses Group | Construction products
Segment Reporting Information [Line Items]
Net sales	75,981	77,759
Segments | Emerging Businesses Group | Ground stabilization solutions
Segment Reporting Information [Line Items]
Net sales	56,512	57,323
Segments | Emerging Businesses Group | Other
Segment Reporting Information [Line Items]
Net sales	4,544	4,611
Segments | Corporate and Other
Segment Reporting Information [Line Items]
Net sales	12,143	7,987
Total assets	1,026,164	1,059,514
Segments | Corporate and Other | Raw materials
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Corporate and Other | Steel products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Corporate and Other | Downstream products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Corporate and Other | Construction products
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Corporate and Other | Ground stabilization solutions
Segment Reporting Information [Line Items]
Net sales	0	0
Segments | Corporate and Other | Other
Segment Reporting Information [Line Items]
Net sales	12,143	7,987
Intersegment | North America Steel Group
Segment Reporting Information [Line Items]
Net sales	16,112	19,637
Intersegment | Europe Steel Group
Segment Reporting Information [Line Items]
Net sales	617	576
Intersegment | Emerging Businesses Group
Segment Reporting Information [Line Items]
Net sales	11,793	4,787
Intersegment | Corporate and Other
Segment Reporting Information [Line Items]
Net sales	$ (28,522)	$ (25,000)

BUSINESS SEGMENTS (Reconciliati

BUSINESS SEGMENTS (Reconciliations of Earnings from Continuing Operations to Adjusted Operating Profit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Segment Reporting [Abstract]
Net earnings (loss)	$ (175,718)	$ 176,273
Interest expense	11,322	11,756
Income tax expense (benefit)	(55,582)	48,422
Depreciation and amortization	70,437	69,186
Corporate and Other expenses	386,245	30,987
Adjusted EBITDA reportable segments	$ 236,704	$ 336,624