$RDUS
RADIUS RECYCLING, INC.

2022 Q2 Form 10-Q Financial Statement

#000095017022012320 Filed on June 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q3 2021 Q2
Revenue $1.010B $845.6M $820.7M
YoY Change 23.07% 82.01% 103.81%
Cost Of Revenue $834.4M $719.9M $678.3M
YoY Change 23.01% 78.99% 90.42%
Gross Profit $175.7M $125.7M $142.4M
YoY Change 23.38% 101.51% 206.51%
Gross Profit Margin 17.4% 14.86% 17.35%
Selling, General & Admin $77.67M $76.53M $61.89M
YoY Change 25.51% 55.86% 36.02%
% of Gross Profit 44.2% 60.89% 43.45%
Research & Development $26.27M $34.74M $26.95M
YoY Change -2.52% -11.94% -39.95%
% of Gross Profit 14.95% 27.64% 18.92%
Depreciation & Amortization $18.75M $14.98M $14.32M
YoY Change 30.93% -0.15% -2.58%
% of Gross Profit 10.67% 11.92% 10.06%
Operating Expenses $77.67M $76.53M $61.89M
YoY Change 25.51% 55.86% 35.72%
Operating Profit $97.84M $49.15M $81.38M
YoY Change 20.23% 355.94% -2295.9%
Interest Expense $2.223M $977.0K $1.383M
YoY Change 60.74% -130.53% -157.63%
% of Operating Profit 2.27% 1.99% 1.7%
Other Income/Expense, Net -$34.00K $66.00K -$114.0K
YoY Change -70.18% -166.0% 14.0%
Pretax Income $95.59M $50.16M $79.88M
YoY Change 19.66% 577.88% -1328.97%
Income Tax $20.04M $6.346M $14.40M
% Of Pretax Income 20.96% 12.65% 18.03%
Net Earnings $74.63M $42.79M $63.64M
YoY Change 17.28% 979.88% -1373.97%
Net Earnings / Revenue 7.39% 5.06% 7.75%
Basic Earnings Per Share $2.65 $2.27
Diluted Earnings Per Share $2.52 $1.432M $2.15
COMMON SHARES
Basic Shares Outstanding 28.14M 28.05M
Diluted Shares Outstanding 29.63M 29.54M

Balance Sheet

Concept 2022 Q2 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.13M $27.82M $17.93M
YoY Change -10.05% 55.41% -94.17%
Cash & Equivalents $16.13M $27.82M $17.93M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $46.99M $43.93M $43.52M
YoY Change 7.99% 45.96% 35.15%
Inventory $439.7M $256.4M $257.2M
Prepaid Expenses
Receivables $278.0M $210.0M $262.0M
Other Receivables $1.285M $837.0K $509.0K
Total Short-Term Assets $787.9M $543.1M $585.2M
YoY Change 34.64% 49.77% -10.41%
LONG-TERM ASSETS
Property, Plant & Equipment $629.1M $562.7M $643.7M
YoY Change -2.27% 15.54% 9.72%
Goodwill $254.5M $170.3M $171.2M
YoY Change 48.63% 0.4%
Intangibles $26.20M $3.980M
YoY Change -13.2%
Long-Term Investments $13.46M $12.84M $11.34M
YoY Change 18.67% 27.17% 14.58%
Other Assets $48.94M $42.67M $70.09M
YoY Change -30.17% 50.83% 36.1%
Total Long-Term Assets $1.125B $951.2M $900.5M
YoY Change 24.87% 9.68% 9.7%
TOTAL ASSETS
Total Short-Term Assets $787.9M $543.1M $585.2M
Total Long-Term Assets $1.125B $951.2M $900.5M
Total Assets $1.912B $1.494B $1.486B
YoY Change 28.72% 21.5% 0.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $223.8M $179.9M $145.5M
YoY Change 53.87% 68.66% 122.07%
Accrued Expenses $129.5M $141.0M $126.7M
YoY Change 2.24% 29.97% 41.72%
Deferred Revenue
YoY Change
Short-Term Debt $5.764M $3.654M $0.00
YoY Change 67.31%
Long-Term Debt Due $5.764M $3.654M $2.834M
YoY Change 103.39% 181.08% 102.43%
Total Short-Term Liabilities $380.9M $352.9M $296.7M
YoY Change 28.36% 57.76% 79.49%
LONG-TERM LIABILITIES
Long-Term Debt $316.1M $71.30M $150.9M
YoY Change 109.43% -30.24% -64.63%
Other Long-Term Liabilities $23.77M $24.29M $193.1M
YoY Change -87.69% 84.91% 10.34%
Total Long-Term Liabilities $23.77M $24.29M $344.0M
YoY Change -93.09% 84.91% -42.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $380.9M $352.9M $296.7M
Total Long-Term Liabilities $23.77M $24.29M $344.0M
Total Liabilities $944.6M $654.6M $687.7M
YoY Change 37.35% 19.13% -14.41%
SHAREHOLDERS EQUITY
Retained Earnings $936.1M $793.7M
YoY Change 22.14%
Common Stock $34.43M $49.07M
YoY Change 34.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $963.7M $835.8M $798.0M
YoY Change
Total Liabilities & Shareholders Equity $1.912B $1.494B $1.486B
YoY Change 28.72% 21.5% 0.79%

Cashflow Statement

Concept 2022 Q2 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $74.63M $42.79M $63.64M
YoY Change 17.28% 979.88% -1373.97%
Depreciation, Depletion And Amortization $18.75M $14.98M $14.32M
YoY Change 30.93% -0.15% -2.58%
Cash From Operating Activities $45.29M $139.5M $53.19M
YoY Change -14.85% 102.72% 36.05%
INVESTING ACTIVITIES
Capital Expenditures -$28.64M -$42.14M -$21.63M
YoY Change 32.42% 85.62% -2.57%
Acquisitions
YoY Change
Other Investing Activities -$60.94M $125.0K $192.0K
YoY Change -31837.5% -93.06% -4.0%
Cash From Investing Activities -$89.58M -$42.01M -$21.54M
YoY Change 315.91% 100.05% -2.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.74M -87.29M -25.54M
YoY Change -267.38% -74.18% -109.11%
NET CHANGE
Cash From Operating Activities 45.29M 139.5M 53.19M
Cash From Investing Activities -89.58M -42.01M -21.54M
Cash From Financing Activities 42.74M -87.29M -25.54M
Net Change In Cash -1.544M 10.17M 6.121M
YoY Change -125.22% -103.5% -97.94%
FREE CASH FLOW
Cash From Operating Activities $45.29M $139.5M $53.19M
Capital Expenditures -$28.64M -$42.14M -$21.63M
Free Cash Flow $73.94M $181.6M $74.82M
YoY Change -1.19% 98.48% 22.06%

Facts In Submission

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dei Entity File Number
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dei Entity Registrant Name
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SCHNITZER STEEL INDUSTRIES, INC.
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OR
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299 SW Clay Street
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Suite 350
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dei Security12b Title
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us-gaap Earnings Per Share Basic
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IncomeLossFromContinuingOperationsPerDilutedShare
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CY2021Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2021Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Profit Loss
ProfitLoss
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CY2021Q2 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2022Q2 us-gaap Dividends Common Stock Cash
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Common Stock Cash
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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us-gaap Stock Repurchased During Period Value
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
126179000
schn Asset Impairment Charges Recoveries Net Excluding Goodwill Impairment Loss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Inventory Write Down
InventoryWriteDown
3199000
schn Deferred Income Tax Expense Benefit Continuing And Discontinued Operations
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schn Deferred Income Tax Expense Benefit Continuing And Discontinued Operations
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1589000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2131000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
13987000
us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
92114000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
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us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Other Noncurrent Assets
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schn Increase Decrease In Operating Lease Assets And Liabilities
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schn Increase Decrease In Operating Lease Assets And Liabilities
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
56394000
us-gaap Increase Decrease In Employee Related Liabilities
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-16890000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
14269000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1747000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1208000
us-gaap Environmental Expense And Liabilities
EnvironmentalExpenseAndLiabilities
-14744000
us-gaap Environmental Expense And Liabilities
EnvironmentalExpenseAndLiabilities
2055000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
650000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3496000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1600000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1250000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
18244000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
462000
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
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schn Proceeds And Payments From Deposit On Land Option
ProceedsAndPaymentsFromDepositOnLandOption
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schn Proceeds And Payments From Deposit On Land Option
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
3249000
us-gaap Interest Paid Net
InterestPaidNet
2454000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022Q2 us-gaap Bank Overdrafts
BankOverdrafts
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CY2021Q3 us-gaap Bank Overdrafts
BankOverdrafts
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us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
NoncashOrPartNoncashAcquisitionInventoryAcquired1
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us-gaap Proceeds From Legal Settlements
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CY2021 us-gaap Proceeds From Legal Settlements
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us-gaap Loss Contingency Related Receivable Carrying Value Period Increase Decrease
LossContingencyRelatedReceivableCarryingValuePeriodIncreaseDecrease
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us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
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CY2021Q4 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
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CY2022Q1 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
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schn Received Payment Related To Claims From Various Insurers
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us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
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CY2022Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
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AssetImpairmentCharges
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CY2022Q1 schn Initial Capital Purchases And Other Costs Of Assets
InitialCapitalPurchasesAndOtherCostsOfAssets
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CY2022Q2 us-gaap Loss Contingency Related Receivable Carrying Value Period Increase Decrease
LossContingencyRelatedReceivableCarryingValuePeriodIncreaseDecrease
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CY2022Q2 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
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CY2022Q2 schn Received Payment Related To Claims From Various Insurers
ReceivedPaymentRelatedToClaimsFromVariousInsurers
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. The majority of cash and cash equivalents is maintained with major financial institutions. Balances with these and certain other institutions exceeded the Federal Deposit Insurance Corporation insured amount of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">250</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> thousand as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">May 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">. Concentration of credit risk with respect to accounts receivable is limited because a large number of geographically diverse customers make up the Company’s customer base. The Company controls credit risk through credit approvals, credit limits, credit insurance, letters of credit or other collateral, cash deposits, and monitoring procedures.</span></p>
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
299681000
CY2021Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
164960000
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
18457000
CY2021Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
7671000
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
69949000
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
39368000
CY2022Q2 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
51617000
CY2021Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
44428000
CY2022Q2 us-gaap Inventory Net
InventoryNet
439704000
CY2021Q3 us-gaap Inventory Net
InventoryNet
256427000
CY2021Q3 us-gaap Goodwill
Goodwill
170304000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
84040000
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
227000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-60000
CY2022Q2 us-gaap Goodwill
Goodwill
254511000
CY2022Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
471000000
CY2021Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
471000000
CY2022Q2 schn Percentage Receivables From Contracts With Customers Of Accounts Receivable
PercentageReceivablesFromContractsWithCustomersOfAccountsReceivable
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CY2021Q3 schn Percentage Receivables From Contracts With Customers Of Accounts Receivable
PercentageReceivablesFromContractsWithCustomersOfAccountsReceivable
0.98
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10000000
CY2021Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
77128000
schn Accrual For Environmental Loss Contingencies Increase Decrease For Acquisitions Divestitures Changes In Estimate And Cumulative Translation Adjustment
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForAcquisitionsDivestituresChangesInEstimateAndCumulativeTranslationAdjustment
7577000
schn Payments And Other Related To Environmental Loss Contingencies
PaymentsAndOtherRelatedToEnvironmentalLossContingencies
18155000
CY2022Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
66550000
CY2022Q2 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
11600000
CY2022Q2 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
54950000
CY2022Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
67000000
CY2021Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
77000000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1010087000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
820718000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2591403000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1912936000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1010087000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
820718000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2591403000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1912936000
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
278000000
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
210000000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8000000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7000000
CY2021Q4 schn Increase Decrease In Payouts Threshold
IncreaseDecreaseInPayoutsThreshold
0.20
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29625000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.210
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.180
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.200
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
75550000
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
65482000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
160991000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
126237000
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
870000
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1801000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2497000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3852000
CY2022Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
74680000
CY2021Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
63681000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
158494000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
122385000
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-46000
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-46000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-46000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-58000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
74634000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
63635000
us-gaap Net Income Loss
NetIncomeLoss
158448000
us-gaap Net Income Loss
NetIncomeLoss
122327000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28143000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28047000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28161000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27948000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1482000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1496000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1580000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1015000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29543000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29741000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28963000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47095
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
172288
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0

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