Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Aug. 31, 2019	Oct. 22, 2019	Feb. 28, 2019
Entity Information [Line Items]
Document Type	10-K
Document Period End Date	Aug. 31, 2019
Entity Registrant Name	SCHNITZER STEEL INDUSTRIES, INC.
Amendment Flag	false
Document Fiscal Year Focus	2019
Trading Symbol	SCHN
Document Fiscal Period Focus	FY
Entity Central Index Key	0000912603
Entity Voluntary Filers	No
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Well-known Seasoned Issuer	No
Entity Small Business	false
Entity Shell Company	false
Entity Public Float			$ 624,206,925
Entity Current Reporting Status	Yes
Entity File Number	000-22496
Entity Tax Identification Number	930341923
Entity Address, Address Line One	299 SW Clay Street
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Portland
Entity Address, State or Province	Oregon
Entity Address, Postal Zip Code	97201
City Area Code	503
Local Phone Number	224-9900
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		26,465,063
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Current assets:
Cash and cash equivalents	$ 12,377	$ 4,723
Accounts receivable, net	145,617	169,418
Inventories	187,320	205,877
Refundable income taxes	5,867	4,668
Prepaid expenses and other current assets	115,107	63,673
Total current assets	466,288	448,359
Property, plant and equipment, net	456,400	415,711
Investments in joint ventures	10,276	11,532
Goodwill	169,237	168,065
Intangibles, net	4,482	4,358
Deferred income taxes	28,850	30,333
Other assets	25,213	26,459
Total assets	1,160,746	1,104,817
Current liabilities:
Short-term borrowings	1,321	1,139
Accounts payable	110,297	128,495
Accrued payroll and related liabilities	27,547	46,410
Environmental liabilities	6,030	6,682
Other accrued liabilities	123,035	71,951
Total current liabilities	268,230	254,677
Deferred income taxes	25,466	11,742
Long-term debt, net of current maturities	103,775	106,237
Environmental liabilities, net of current portion	45,769	47,150
Other long-term liabilities	16,210	14,901
Total liabilities	459,450	434,707
Commitments and contingencies (Note 8)
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Preferred stock – 20,000 shares $1.00 par value authorized, none issued	0	0
Additional paid-in capital	33,700	36,929
Retained earnings	675,363	639,684
Accumulated other comprehensive loss	(38,763)	(37,237)
Total SSI shareholders’ equity	696,964	666,078
Noncontrolling interests	4,332	4,032
Total equity	701,296	670,110
Total liabilities and equity	1,160,746	1,104,817
Class A Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	26,464	26,502
Class B Common Stock
Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity:
Common stock, value	$ 200	$ 200

Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2019	Aug. 31, 2018
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	26,464,000	26,502,000
Common stock, shares outstanding	26,464,000	26,502,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	200,000	200,000
Common stock, shares outstanding	200,000	200,000

Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Aug. 31, 2019

Aug. 31, 2018

Aug. 31, 2017

Income Statement [Abstract]

Revenues

$ 2,132,781

$ 2,364,715

$ 1,687,591

Operating expense:

Cost of goods sold

1,858,535

2,010,485

1,464,508

Selling, general and administrative

191,405

208,877

171,570

(Income) from joint ventures

(1,452)

(1,953)

(3,674)

Asset impairment charges (recoveries), net

(1,021)

(717)

Restructuring charges and other exit-related activities

365

(661)

(109)

Operating income

83,865

148,988

56,013

Interest expense

(8,266)

(8,983)

(8,081)

Other income, net

641

1,848

758

Income from continuing operations before income taxes

76,240

141,853

48,690

Income tax (expense) benefit

(17,670)

17,590

(1,322)

Income from continuing operations

58,570

159,443

47,368

(Loss) income from discontinued operations, net of tax

(248)

346

(390)

Net income

58,322

159,789

46,978

Net income attributable to noncontrolling interests

(1,977)

(3,338)

(2,467)

Net income attributable to SSI shareholders

$ 56,345

$ 156,451

$ 44,511

Net income per share attributable to SSI shareholders Basic:

Income per share from continuing operations

$ 2.06

$ 5.65

$ 1.63

(Loss) income per share from discontinued operations

(0.01)

0.01

(0.01)

Net income per share

2.05

5.66

1.62

Net income per share attributable to SSI shareholders Diluted:

Income per share from continuing operations

2.01

5.46

1.60

(Loss) income per share from discontinued operations

(0.01)

0.01

(0.01)

Net income per share

^[1]

$ 2.00

$ 5.47

$ 1.58

Weighted average number of common shares:

Basic

27,527

27,645

27,537

Diluted

28,222

28,589

28,141

[1]	May not foot due to rounding.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 58,322	$ 159,789	$ 46,978
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1,560)	(2,301)	2,711
Pension obligations, net	34	357	2,111
Total other comprehensive (loss) income, net of tax	(1,526)	(1,944)	4,822
Comprehensive income	56,796	157,845	51,800
Less comprehensive income attributable to noncontrolling interests	(1,977)	(3,338)	(2,467)
Comprehensive income attributable to SSI shareholders	$ 54,819	$ 154,507	$ 49,333

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total SSI Shareholders’ Equity	Noncontrolling Interests	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance at Aug. 31, 2016	$ 501,432	$ 30,948	$ 480,100	$ (40,115)	$ 497,721	$ 3,711		$ 26,482		$ 306
Beginning balance (in shares) at Aug. 31, 2016								26,482		306
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	46,978		44,511		44,511	2,467
Other comprehensive income (loss), net of tax	4,822			4,822	4,822
Distributions to noncontrolling interests	(2,271)					(2,271)
Conversion of common stock								$ 106		$ (106)
Conversion of common stock (in shares)								106		(106)
Restricted stock withheld for taxes	(3,474)	(3,326)			(3,474)			$ (148)
Restricted stock withheld for taxes (in shares)								(148)
Issuance of restricted stock		(419)						$ 419
Issuance of restricted stock (in shares)								419
Share-based compensation expense	10,847	10,847			10,847
Dividends	(20,841)		(20,841)		(20,841)
Ending balance at Aug. 31, 2017	537,493	38,050	503,770	(35,293)	533,586	3,907		$ 26,859		$ 200
Ending balance (in shares) at Aug. 31, 2017								26,859		200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	159,789		156,451		156,451	3,338
Other comprehensive income (loss), net of tax	(1,944)			(1,944)	(1,944)
Reclassification of stranded tax effects of the Tax Act	517		517		517
Distributions to noncontrolling interests	(2,796)					(2,796)
Purchase of noncontrolling interest	(600)		(183)		(183)	(417)
Share repurchases	(17,361)	(16,845)			(17,361)			$ (516)
Share repurchase (in shares)								(516)
Restricted stock withheld for taxes	(3,082)	(2,979)			(3,082)			$ (103)
Restricted stock withheld for taxes (in shares)								(103)
Issuance of restricted stock		(262)						$ 262
Issuance of restricted stock (in shares)								262
Share-based compensation expense	18,965	18,965			18,965
Dividends	(20,871)		(20,871)		(20,871)
Ending balance at Aug. 31, 2018	670,110	36,929	639,684	(37,237)	666,078	4,032		$ 26,502		$ 200
Ending balance (in shares) at Aug. 31, 2018							26,502	26,502	200	200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	58,322		56,345		56,345	1,977
Other comprehensive income (loss), net of tax	(1,526)			(1,526)	(1,526)
Distributions to noncontrolling interests	(1,677)					(1,677)
Share repurchases	(13,083)	(12,556)			(13,083)			$ (527)
Share repurchase (in shares)								(527)
Restricted stock withheld for taxes	(7,484)	(7,206)			(7,484)			$ (278)
Restricted stock withheld for taxes (in shares)								(278)
Issuance of restricted stock		(767)						$ 767
Issuance of restricted stock (in shares)								767
Share-based compensation expense	17,300	17,300			17,300
Dividends	(20,666)		(20,666)		(20,666)
Ending balance at Aug. 31, 2019	$ 701,296	$ 33,700	$ 675,363	$ (38,763)	$ 696,964	$ 4,332		$ 26,464		$ 200
Ending balance (in shares) at Aug. 31, 2019							26,464	26,464	200	200

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Cash flows from operating activities:
Net income	$ 58,322	$ 159,789	$ 46,978
Adjustments to reconcile net income to cash provided by operating activities:
Asset impairment charges (recoveries), net	63	(1,021)	(717)
Exit-related (gains), asset impairments and accelerated depreciation, net	23	(1,000)	(407)
Depreciation and amortization	53,336	49,672	49,840
Inventory write-downs	775	38	0
Deferred income taxes	14,613	(37,995)	2,278
Undistributed equity in earnings of joint ventures	(1,452)	(1,953)	(3,674)
Share-based compensation expense	17,300	18,965	10,847
(Gain) loss on the disposal of assets, net	(1,545)	56	448
Unrealized foreign exchange loss (gain), net	148	(104)	361
Bad debt expense, net	74	323	126
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	9,478	(44,941)	(36,195)
Inventories	33,466	(24,280)	(22,207)
Income taxes	(1,158)	(1,755)	(1,086)
Prepaid expenses and other current assets	(859)	(109)	(1,704)
Other long-term assets	1,167	(1,620)	537
Accounts payable	(17,068)	26,049	33,062
Accrued payroll and related liabilities	(19,117)	4,889	12,389
Other accrued liabilities	(3,560)	6,066	5,073
Environmental liabilities	(2,476)	3,053	1,884
Other long-term liabilities	518	4,404	(1,101)
Distributed equity in earnings of joint ventures	2,692	1,150	3,638
Net cash provided by operating activities	144,740	159,676	100,370
Cash flows from investing activities:
Capital expenditures	(94,613)	(77,626)	(44,940)
Purchase of cost method investment	0	0	(6,017)
Acquisitions	(1,553)	(2,300)	0
Joint venture receipts, net	641	11	405
Proceeds from sale of assets	4,070	6,517	5,158
Deposit on land option	1,890	0	0
Net cash used in investing activities	(89,565)	(73,398)	(45,394)
Cash flows from financing activities:
Borrowings from long-term debt	431,048	515,480	433,336
Repayment of long-term debt	(435,353)	(556,456)	(481,757)
Payment of debt issuance costs	(102)	(2,590)	(112)
Repurchase of Class A common stock	(13,083)	(17,361)	0
Taxes paid related to net share settlement of share-based payment awards	(7,484)	(3,082)	(3,474)
Distributions to noncontrolling interests	(1,677)	(2,796)	(2,271)
Purchase of noncontrolling interest	0	(600)	0
Dividends paid	(20,615)	(20,736)	(20,396)
Net cash used in financing activities	(47,266)	(88,141)	(74,674)
Effect of exchange rate changes on cash	(255)	(701)	166
Net increase (decrease) in cash and cash equivalents	7,654	(2,564)	(19,532)
Cash and cash equivalents as of beginning of year	4,723	7,287	26,819
Cash and cash equivalents as of end of year	12,377	4,723	7,287
Cash paid during the year for:
Interest	6,191	8,113	7,016
Income taxes, net	3,527	17,203	148
Schedule of noncash investing and financing transactions:
Purchases of property, plant and equipment included in current liabilities	$ 17,191	$ 18,768	$ 11,082

Nature of Operations

12 Months Ended

Aug. 31, 2019

Nature Of Operations [Abstract]

Nature of Operations

Note 1 – Nature of Operations

Founded in 1906, Schnitzer Steel Industries, Inc., an Oregon corporation, is one of North America’s largest recyclers of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. Schnitzer Steel Industries, Inc. and its consolidated subsidiaries, together, are referred to as the Company.

The Company’s internal organizational and reporting structure includes two operating and reportable segments: the Auto and Metals Recycling (“AMR”) business and the Cascade Steel and Scrap (“CSS”) business.

AMR acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers, and procures salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores. These auto parts stores also supply the Company’s shredding facilities with auto bodies that are processed into saleable recycled scrap metal.

CSS operates a steel mini-mill that produces a range of finished steel long products using ferrous recycled scrap metal and other raw materials. CSS’s steel mill obtains substantially all of its scrap metal raw material requirements from its integrated metals recycling and joint venture operations. CSS’s metals recycling operations also sell recycled metal to external customers primarily in export markets.

As of August 31, 2019, all of the Company’s facilities were located in the United States (“U.S.”) and its territories and Canada.

Summary of Significant Accounting Policies

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Schnitzer Steel Industries, Inc. and its majority-owned and wholly-owned subsidiaries. The equity method of accounting is used for investments in joint ventures over which the Company has significant influence but does not have effective control. All significant intercompany account balances, transactions, profits and losses have been eliminated. All transactions and relationships with potential variable interest entities are evaluated to determine whether the Company is the primary beneficiary of the entities, therefore requiring consolidation. The Company does not have any variable interest entities requiring consolidation.

Accounting Changes

As of the beginning of the first quarter of fiscal 2019, the Company adopted an accounting standards update initially issued in May 2014 that clarifies the principles for recognizing revenue from contracts with customers. The core principle of the new guidance is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. The Company adopted the new revenue accounting standard using the modified retrospective approach, which requires recognition of the cumulative effect of initially applying the new requirements as an adjustment to the opening balance of retained earnings in the period of initial application. Adoption of the new requirements did not change the timing of revenue recognition for the Company compared to the previous guidance, and the Company recorded no cumulative-effect adjustment to the opening balance of retained earnings as of September 1, 2018. The Company identified certain scrap purchase and sale arrangements for which it recognized revenue for the gross amount of consideration it expected to be entitled to from the customer (as principal) under the previous revenue guidance, but for which under the new revenue standard it recognizes revenue as the net amount of consideration that it expects to retain after paying the scrap metal supplier (as agent). The foregoing change in the classification of the cost of scrap metal purchased under such arrangements has the effect of reducing the amount of revenue and cost of goods sold reported in the financial statements, while having no impact on net income. If the Company had continued using the accounting guidance in effect before the adoption of the new revenue accounting standard, its consolidated revenues for fiscal 2019 would have been higher by approximately $28 million, or 1%, and its consolidated cost of goods sold would have been higher by the same amount. No other line items in the consolidated financial statements were materially impacted by adoption of the new requirements. Comparative prior period amounts and disclosures continue to be reported in accordance with guidance in effect prior to the date of adoption. See Note 10 - Revenue for the disclosures required under the new standard.

As of the beginning of the first quarter of fiscal 2019, the Company adopted an accounting standards update that amends certain aspects of the reporting model for financial instruments. The most pertinent amendment to the Company is that an entity may choose to measure certain equity investments that do not have readily determinable fair values at cost minus impairment, plus or minus changes resulting from observable price changes. The amendments also require a qualitative assessment to identify impairment of equity investments without readily determinable fair values. Adoption of the requirements had no impact on the Company’s consolidated financial position, results of operations and cash flows.

Discontinued Operations

The results of discontinued operations are presented separately, net of tax, from the results of ongoing operations for all periods presented. The disposed components reflected in the results of discontinued operations during the periods presented consist of six auto parts stores for which the Company ceased operations in fiscal 2015. The expenses included in the results of discontinued operations are the direct operating expenses incurred by the disposed components that may be reasonably segregated from the costs of the ongoing operations of the Company.

Cash and Cash Equivalents

Cash and cash equivalents include short-term securities that are not restricted by third parties and have an original maturity date of 90 days or less. Included in accounts payable are book overdrafts representing outstanding checks in excess of funds on deposit of $27 million and $28 million as of August 31, 2019 and 2018, respectively.

Accounts Receivable, net

Accounts receivable represent amounts primarily due from customers on product and other sales. These accounts receivable, which are reduced by an allowance for doubtful accounts, are recorded at the invoiced amount and do not bear interest. The Company extends credit to customers under contracts containing customary and explicit payment terms, and payment is generally required within 30 to 60 days of shipment. Nonferrous export sales typically require a deposit prior to shipment. Historically, almost all of the Company’s ferrous export sales have been made with letters of credit. Domestic ferrous metal sales, nonferrous metal sales and finished steel sales are generally made on open account, and the majority of these sales are covered by credit insurance.

The Company evaluates the collectibility of its accounts receivable based on a combination of factors, including whether sales were made pursuant to letters of credit or credit insurance is in place. In cases where management is aware of circumstances that may impair a customer’s ability to meet its financial obligations, management records a specific allowance against amounts due and reduces the receivable to the amount the Company believes will be collected. For all other customers, the Company maintains an allowance that considers the total receivables outstanding, historical collection rates and economic trends. Accounts are written off when all efforts to collect have been exhausted. The allowance for doubtful accounts was $2 million and $3 million as of August 31, 2019 and 2018, respectively.

Also included in accounts receivable are short-term advances to scrap metal suppliers used as a mechanism to acquire unprocessed scrap metal. The advances are generally repaid with scrap metal, as opposed to cash. Repayments of advances with scrap metal are treated as noncash operating activities in the Consolidated Statements of Cash Flows and totaled $15 million, $15 million and $12 million for the fiscal years ended August 31, 2019, 2018 and 2017, respectively.

Inventories

The Company’s inventories consist of processed and unprocessed scrap metal (ferrous, nonferrous, and mixed nonferrous recovered joint products arising from the manufacturing process), semi-finished steel products (billets), finished steel products (primarily rebar, wire rod, and merchant bar), used and salvaged vehicles, and supplies. Inventories are stated at the lower of cost and net realizable value. The Company determines the cost of ferrous and nonferrous scrap metal inventories using the average cost method and capitalizes substantially all direct processing costs and yard costs into inventory. The Company allocates material and production costs to joint products using the gross margin method. AMR determines the cost of used and salvaged vehicle inventory at its auto parts stores, which is reported within finished goods, based on the average price the Company pays for a vehicle and capitalizes the vehicle cost and substantially all production costs into inventory. CSS determines the cost of its semi-finished and finished steel product inventories based on average costs and capitalizes all direct and indirect costs of manufacturing into inventory. Indirect costs of manufacturing include general plant costs, maintenance and yard costs. The Company determines the cost of the substantial majority of its supplies inventory using the average cost method and reduces the carrying value for losses due to obsolescence. The Company considers estimated future selling prices when determining the estimated net realizable value of its inventory. As the Company generally sells its recycled ferrous metal under contracts that provide for shipment within 30 to 60 days after the price is agreed, it utilizes the selling prices under committed contracts and sales orders for determining the estimated net realizable value of quantities on hand that will be shipped under these contracts and sales orders.

The accounting process the Company uses to record ferrous scrap metal quantities relies on significant estimates. With respect to estimating the quantities of unprocessed ferrous scrap metal inventory that are moved into production, management relies on weighed quantities of the processed ferrous material, adjusted for estimated metal recoveries and yields that are based on historical trends and other judgments by management. Actual recoveries and yields can vary depending on product quality, moisture content and the source of the unprocessed metal. The Company’s estimates are intended to reasonably reflect the quantities of unprocessed ferrous scrap metal that are used in the production of processed ferrous metal. To assist in validating the reasonableness of these estimates, management periodically reviews shrink factors and performs monthly physical inventories. Due to the inherent nature of the Company’s scrap metal inventories, including variations in product density, holding period and production processes utilized to manufacture the products, physical inventories will not necessarily detect all variances for scrap metal inventory such that estimates of quantities are required. To mitigate this risk, the Company further adjusts its ferrous physical inventories when the volume of a commodity is low and a physical inventory count is deemed to more accurately estimate the remaining volume.

Property, Plant and Equipment, net

Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized, while routine repair and maintenance costs are expensed as incurred. Interest related to the construction of qualifying assets is capitalized as part of the construction costs and was not material to any of the periods presented. When assets are retired or sold, the related cost and accumulated depreciation are removed from the accounts and resulting gains or losses are generally included in operating expense. Gains and losses from sales of assets related to an exit activity are reported within restructuring charges and other exit-related activities in the Consolidated Statements of Income. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets. Upon idling an asset, depreciation continues to be recorded. Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining lease term.

As of August 31, 2019, the useful lives used for depreciation and amortization were as follows:

		Useful Life (in years)
Machinery and equipment		3 to 40
Land improvements		3 to 35
Buildings and leasehold improvements		5 to 40
Office equipment and other software licenses		3 to 10
Enterprise Resource Planning (“ERP”) systems		6 to 17

Prepaid Expenses

The Company’s prepaid expenses, reported within prepaid expenses and other current assets in the Consolidated Balance Sheets, totaled $23 million and $22 million as of August 31, 2019 and 2018, respectively, and consisted primarily of deposits on capital purchases, prepaid insurance, prepaid rent and prepaid services.

Other Assets

The Company’s other assets, exclusive of prepaid expenses, consist primarily of receivables from insurers, spare parts, an equity investment, debt issuance costs, and notes and other contractual receivables. Other assets are reported within either prepaid expenses and other current assets or other assets in the Consolidated Balance Sheets based on their expected use either during or beyond the current operating cycle of one year from the reporting date.

Receivables from insurers represent the portion of insured losses expected to be recovered from the Company’s insurance carriers. The receivable is recorded at an amount not to exceed the recorded loss and only if the terms of legally enforceable insurance contracts support that the insurance recovery will not be disputed and is deemed collectible. Receivables from insurers totaled $89 million and $36 million as of August 31, 2019 and 2018, respectively, with the increase in fiscal 2019 relating primarily to adjustment of a contingent loss originally recorded in fiscal 2018 in connection with lawsuits arising from a 2016 motor vehicle collision for which the Company had insurance coverage. The foregoing lawsuits were settled and full payment of the settlements was made within the Company’s insurance policy limits in the first quarter of fiscal 2020. See “Contingencies – Other” in Note 8 – Commitments and Contingencies for further discussion of the contingent loss.

The Company invested $6 million in the equity of a privately-held waste and recycling entity in fiscal 2017. The equity investment does not have a readily determinable fair value and, therefore, is carried at cost and adjusted for impairments and observable price changes. The investment is presented as part of AMR and reported within other assets in the Consolidated Balance Sheets. The carrying value of the investment was $6 million as of August 31, 2019 and 2018. The Company has not recorded any impairments or upward or downward adjustments to the carrying value of the investment since acquisition.

Debt issuance costs consist primarily of costs incurred by the Company to enter into or modify its credit facilities. The Company reports deferred debt issuance costs within other assets in the Consolidated Balance Sheets and amortizes them to interest expense on a straight-line basis over the contractual term of the arrangement.

Notes and other contractual receivables consist primarily of advances to entities in the business of extracting scrap metal through demolition and other activities, as well as receivables from counterparties to sales of equipment assets and to legal settlements. Repayment of these advances to suppliers is in either cash or scrap metal. The Company performs periodic reviews of its notes and other contractual receivables to identify credit risks and to assess the overall collectibility of the receivables, which typically involves consideration of the value of collateral which in the case of advances to suppliers is generally in the form of scrap metal extracted from demolition and construction projects. A note or other contractual receivable is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due in accordance with the contractual terms of the agreement. Once a note or other contractual receivable has been identified as impaired, it is measured based on the present value of payments expected to be received, discounted at the receivable’s contractual interest rate, or for arrangements that are solely dependent on collateral for repayment, the estimated fair value of the collateral less estimated costs to sell. If the carrying value of the receivable exceeds its recoverable amount, an impairment is recorded for the difference.

Long-Lived Assets

The Company tests long-lived tangible and intangible assets for impairment at the asset group level, which is determined based on the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. For the Company’s metals recycling operations reported within AMR, an asset group generally consists of the regional shredding and export operation along with surrounding feeder yards. For regions with no shredding and export operations, each metals recycling yard is an asset group. For the Company’s auto parts operations, generally each auto parts store is an asset group. The combined steel manufacturing and metals recycling operations within CSS are a single asset group. The Company tests its asset groups for impairment when certain triggering events or changes in circumstances indicate that the carrying value of the asset group may be impaired. If the carrying value of the asset group is not recoverable because it exceeds the Company’s estimate of future undiscounted cash flows from the use and eventual disposition of the asset group, an impairment loss is recognized by the amount the carrying value exceeds its fair value, if any. The impairment loss is allocated to the long-lived assets of the group on a pro rata basis using the relative carrying amounts of those assets, except that the loss allocated to an individual long-lived asset of the group shall not reduce the carrying amount of that asset below its fair value. Fair value is determined primarily using the cost and market approaches.

With respect to individual long-lived assets, changes in circumstances may merit a change in the estimated useful lives or salvage values of the assets, which are accounted for prospectively in the period of change. For such assets, the useful life is shortened based on the Company’s plans to dispose of or abandon the asset before the end of its original useful life and depreciation is accelerated beginning when that determination is made.

Investments in Joint Ventures

As of August 31, 2019, the Company had two 50%-owned joint venture interests which were accounted for under the equity method of accounting. One of the joint venture interests is presented as part of AMR operations, and one interest is presented as part of CSS operations. The joint venture within CSS sells recycled scrap metal to other operations within CSS at prices that approximate local market rates, which produces intercompany profit. This intercompany profit is eliminated while the products remain in inventory and is not recognized until the finished products are sold to third parties. As of August 31, 2019, the Company’s investments in equity method joint ventures have generated $8 million in cumulative undistributed earnings.

A loss in value of an investment in a joint venture is recognized when the decline is other than temporary. Management considers all available evidence to evaluate the realizable value of its investments including the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the joint venture business, and the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. Once management determines that an other-than-temporary impairment exists, the investment is written down to its fair value, which establishes a new cost basis. The Company determines fair value using Level 3 inputs under the fair value hierarchy using an income approach based on a discounted cash flow analysis.

During fiscal 2018, the Company declassified two of its 50% joint venture interests from equity method classification as a result of the agreed-upon dissolution of the joint venture entities. The joint venture interests had previously been presented as part of AMR operations. During fiscal 2017, the Company sold one of its 50% joint venture interests, which had previously been presented as part of CSS operations. The Company recorded immaterial gains as a result of these transactions. During fiscal 2017, one of the Company’s joint venture interests sold real estate resulting in recognition of a $6 million gain by the joint venture, $3 million of which was attributable to the Company’s investment. The Company’s share of the gain is reported within (income) from joint ventures in the Consolidated Statements of Income. See Note 15 - Related Party Transactions for further detail on transactions with joint ventures.

Goodwill and Other Intangible Assets, net

Goodwill represents the excess of the purchase price over the net amount of identifiable assets acquired and liabilities assumed in a business combination measured at fair value. The Company evaluates goodwill for impairment annually on July 1 and upon the occurrence of certain triggering events or substantive changes in circumstances that indicate that the fair value of goodwill may be impaired. Impairment of goodwill is tested at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (referred to as a ‘component’). A component of an operating segment is required to be identified as a reporting unit if the component is a business for which discrete financial information is available and segment management regularly reviews its operating results.

When testing goodwill for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more-likely-than-not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines that an impairment is more-likely-than-not, the Company is then required to perform the quantitative impairment test, otherwise no further analysis is required. The Company also may elect not to perform the qualitative assessment and, instead, proceed directly to the quantitative impairment test. When performing the quantitative impairment test, the Company applies a one-step quantitative test and records the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to that reporting unit.

When the Company is required to perform a quantitative goodwill impairment test, it estimates the fair value of its reporting units using an income approach based on the present value of expected future cash flows, including terminal value, utilizing a market-based weighted average cost of capital determined separately for each reporting unit. The determination of fair value involves the use of significant estimates and assumptions, including revenue growth rates driven by future commodity prices and volume expectations, operating margins, capital expenditures, working capital requirements, tax rates, terminal growth rates, discount rates, benefits associated with a taxable transaction and synergistic benefits available to market participants. In addition, to corroborate the reporting units’ valuation, the Company uses a market approach based on earnings multiple data and a reconciliation of the Company’s estimate of the aggregate fair value of the reporting units to the Company’s market capitalization, including consideration of a control premium. The Company did not record goodwill impairment charges in any of the periods presented.

The Company tests indefinite-lived intangible assets for impairment by first assessing qualitative factors to determine whether it is necessary to perform a quantitative impairment test. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of the indefinite-lived intangible asset is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The Company did not record impairment charges on indefinite-lived intangible assets in any of the periods presented.

Acquisitions

The Company recognizes the assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at the acquisition date, measured at their fair values as of that date. Contingent purchase consideration is recorded at fair value at the date of acquisition. Any excess purchase price over the fair value of the net assets acquired is recorded as goodwill. Within one year from the date of acquisition, the Company may update the value allocated to the assets acquired and liabilities assumed and the resulting goodwill balance as a result of information received regarding the valuation of such assets and liabilities that was not available at the time of purchase. Measuring assets and liabilities at fair value requires the Company to determine the price that would be paid by a third party market participant based on the highest and best use of the assets or interests acquired. Acquisition costs are expensed as incurred.

The Company acquired certain assets of an auto recycling business in northern California in fiscal 2019 and certain assets of a metals recycling business in Columbus, Georgia in fiscal 2018. These acquisitions were not material to the Company’s financial position or results of operations. Pro forma operating results for these acquisitions are not presented, since the aggregate results would not be significantly different than reported results. See Note 6 - Goodwill and Other Intangible Assets, net for further details.

Restructuring Charges

Restructuring charges consist of severance, contract termination and other restructuring-related costs. A liability for severance costs is typically recognized when the plan of termination has been communicated to the affected employees and is measured at its fair value at the communication date. Contract termination costs consist primarily of costs that will continue to be incurred under operating leases for their remaining terms without economic benefit to the Company. A liability for contract termination costs is recognized at the date the Company ceases using the rights conveyed by the lease contract and is measured at its fair value, which is determined based on the remaining contractual lease rentals reduced by estimated sublease rentals. A liability for other restructuring-related costs is measured at its fair value in the period in which the liability is incurred.

Accrued Workers’ Compensation Costs

The Company is self-insured for the significant majority of workers’ compensation claims with exposure limited by various stop-loss insurance policies. The Company estimates the costs of workers’ compensation claims based on the nature of the injury incurred and on guidelines established by the applicable state. An accrual is recorded based upon the amount of unpaid claims as of the balance sheet date. Accrued amounts recorded for individual claims are reviewed periodically as treatment progresses and adjusted to reflect additional information that becomes available. The estimated cost of claims incurred but not reported is included in the accrual. The Company accrued $8 million for the estimated cost of unpaid workers’ compensation claims as of August 31, 2019 and 2018, which are included in other accrued liabilities in the Consolidated Balance Sheets, with corresponding workers’ compensation insurance receivables of $4 million as of August 31, 2019 and 2018 included in other current assets.

Environmental Liabilities

The Company estimates future costs for known environmental remediation requirements and accrues for them on an undiscounted basis when it is probable that the Company has incurred a liability and the related costs can be reasonably estimated but the timing of incurring the estimated costs is unknown. The Company considers various factors when estimating its environmental liabilities. Adjustments to the liabilities are recorded to selling, general and administrative expense in the Consolidated Statements of Income when additional information becomes available that affects the estimated costs to study or remediate any environmental issues or when expenditures are made for which liabilities were established. Legal costs incurred in connection with environmental contingencies are expensed as incurred.

When only a wide range of estimated amounts can be reasonably established and no other amount within the range is a better estimate than another, the low end of the range is recorded in the financial statements. In a number of cases, it is possible that the Company may receive reimbursement through insurance or from other potentially responsible parties for a site or matter. In these situations, recoveries of environmental remediation costs from other parties are recognized when the claim for recovery is either realized or realizable. The amounts recorded for environmental liabilities are reviewed periodically as assessment and remediation progresses at individual sites or for particular matters and adjusted to reflect additional information that becomes available. Due to evolving remediation technology, changing regulations, possible third party contributions, the subjective nature of the assumptions used and other factors, amounts accrued could vary significantly from amounts paid. See “Contingencies – Environmental” in Note 8 – Commitments and Contingencies for further detail.

Loss Contingencies

The Company is subject to certain legal proceedings and contingencies in addition to those related to environmental liabilities discussed above in this Note, the outcomes of which are subject to significant uncertainty. The Company accrues for estimated losses if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company uses judgment and evaluates whether a loss contingency arising from litigation or an unasserted claim should be disclosed or recorded. The outcome of legal proceedings and other contingencies is inherently uncertain and often difficult to estimate. Accrued legal contingencies are reported within other accrued liabilities in the Consolidated Balance Sheets. See “Contingencies – Other” in Note 8 – Commitments and Contingencies for further detail.

Financial Instruments

The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, and debt. The Company uses the market approach to value its financial assets and liabilities, determined using available market information. The net carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term nature of these instruments. For long-term debt, which is primarily at variable interest rates, fair value is estimated using observable inputs (Level 2) and approximates its carrying value.

Fair Value Measurements

Fair value is measured using inputs from the three levels of the fair value hierarchy. Classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are described as follows:

•

Level 1 – Unadjusted quoted prices in active markets for identical assets and liabilities.

•

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the determination of the fair value of the asset or liability, either directly or indirectly.

•

Level 3 – Unobservable inputs that are significant to the determination of the fair value of the asset or liability.

When developing the fair value measurements, the Company uses quoted market prices whenever available or seeks to maximize the use of observable inputs and minimize the use of unobservable inputs when quoted market prices are not available.

Derivatives

Derivative contracts for commodities used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases and normal sales. Contracts that qualify as normal purchases or normal sales are not marked-to-market. The Company does not use derivative instruments for trading or speculative purposes.

Foreign Currency Translation and Transactions

Assets and liabilities of the Company’s operations in Canada are translated into U.S. dollars at the period-end exchange rate, revenues and expenses of these operations are translated into U.S. dollars at the average exchange rate for the period, and cash flows of these operations are translated into U.S. dollars using the exchange rates in effect at the time of the cash flows. Translation adjustments are not included in determining net income for the period, but are recorded in accumulated other comprehensive income, a separate component of shareholders’ equity. Foreign currency transaction gains and losses are generated from the effects of exchange rate changes on transactions denominated in a currency other than the functional currency. Gains and losses on foreign currency transactions are generally included in determining net income for the period. The Company reports these gains and losses within other income, net in the Consolidated Statements of Income. Net realized and unrealized foreign currency transaction gains and losses were not material for fiscal 2019, 2018 or 2017.

Common Stock

Each share of Class A and Class B common stock is entitled to one vote. Additionally, each share of Class B common stock may be converted to one share of Class A common stock. As such, the Company reserves one share of Class A common stock for each share of Class B common stock outstanding. There are currently no meaningful distinctions between the rights of holders of Class A shares and Class B shares.

Share Repurchases

The Company accounts for the repurchase of stock at par value. All shares repurchased are deemed retired. Upon retirement of the shares, the Company records the difference between the weighted average cost of such shares and the par value of the stock as an adjustment to additional paid-in capital, with the excess recorded to retained earnings when additional paid-in capital is not sufficient.

Revenue Recognition

The Company recognizes revenue upon satisfying its promises to transfer goods or services to customers under the terms of its contracts. Nearly all of these promises, referred to as performance obligations, consist of the transfer of physical goods, including ferrous and nonferrous recycled scrap metal, auto bodies, auto parts, and finished steel products, to customers. These performance obligations are satisfied at the point in time the Company transfers control of the goods to the customer, which in nearly all cases is when title to and risk of loss of the goods transfer to the customer. The timing of transfer of title and risk of loss is dictated by customary or explicitly stated contract terms. For example, the Company recognizes revenue on partially loaded bulk shipments of ferrous recycled scrap metal when contractual terms support revenue recognition based on transfer of title and risk of loss. The significant majority of the Company’s sales involve transfer of control to the customer, and thus revenue recognition, before delivery to the customer’s destination; for example, upon release of the goods to the shipper. The Company’s bill-and-hold arrangements involve transfer of control to the customer when the goods have been segregated from other inventory at the Company’s facility and are ready for physical transfer to the customer. Shipping and handling activities that occur after a customer has obtained control of a good are accounted for as fulfillment costs rather than an additional promise in a contract. As such, shipping and handling consideration (freight revenue) is recognized when control of the goods transfers to the customer, and freight expense is accrued to cost of goods sold when the related revenue is recognized.

In certain regional markets, the Company enters into contracts whereby it arranges for, or brokers, the transfer of scrap material between scrap suppliers and end customers. For transactions in which the Company obtains substantive control of the scrap material before the goods are transferred to the end customer, for example by arranging for the processing or warehousing of the material, the Company recognizes revenue equal to the gross amount of the consideration it expects to receive from the customer (as principal). Alternatively, for transactions in which the Company does not obtain substantive control of the scrap material before the product is transferred to the end customer, the Company recognizes revenue equal to the net amount of the consideration it expects to retain after paying the supplier for the purchase of the scrap metal (as agent). The Company is the agent in the transaction for the substantial majority of brokerage arrangements.

Nearly all of the Company’s sales contracts reflect market pricing at the time the contract is executed, are one year or less, and generally provide for shipment within 30 to 60 days after the price has been agreed upon with the customer. The Company’s retail auto parts sales are at listed prices and are recognized at the point of sale.

The Company recognizes revenue based on contractually stated selling prices and quantities shipped, net of sales tax, and adjusted for estimated claims and discounts. Claims are customary in the recycled scrap metal industry and arise from variances in the quantity or quality of delivered products. Revenue adjustments may be required if the settlement of claims exceeds original estimates. Discounts offered to certain finished steel customers qualify as variable consideration as the discounts are contingent upon future events. Variable consideration arising from discounts is recognized upon the transfer of finished steel products to customers based upon either the expected value or the most likely amount and was not material for the fiscal year ended August 31, 2019. The Company experiences very few sales returns and, therefore, no material provisions for returns have been made when sales are recognized. During the fiscal year ended August 31, 2019, revenue adjustments related to performance obligations that were satisfied in previous periods were not material.

Advertising Costs

The Company expenses advertising costs when incurred. Advertising expense was $6 million in fiscal 2019, 2018 and 2017, respectively.

Share-Based Compensation

The Company estimates grant-date fair value of stock-based compensation awards based on the market closing price of the underlying Class A common stock on the date of grant, except for performance share awards with a total shareholder return (“TSR”) market performance metric for which the Company estimates fair value using a Monte-Carlo simulation model. The Company recognizes compensation expense for all awards, net of estimated forfeitures, over the requisite service period. Compensation expense is based on the grant-date fair value as described above, except for performance share awards with non-market (return on capital employed (“ROCE") or cash flow return on investment (“CFROI”)) performance metrics. For these awards compensation expense is based on the

probable outcome of achieving the specified performance conditions. The Company reassesses whether achievement of the ROCE and CFROI performance metrics is probable at each reporting date. See Note 12 – Share-Based Compensation for further detail.

Income Taxes

Income taxes are accounted for using the asset and liability method. This requires the recognition of taxes currently payable or refundable and the recognition of deferred tax assets and liabilities for the future tax consequences of events that are recognized in one reporting period on the Consolidated Financial Statements but in a different reporting period on the tax returns. Tax credits are recognized as a reduction of income tax expense in the year the credit arises. Valuation allowances are recorded to reduce deferred tax assets when it is more-likely-than-not that a tax benefit will not be realized. The Company assesses the realizability of its deferred tax assets on a quarterly basis through an analysis of potential sources of future taxable income, including prior year taxable income available to absorb a carryback of tax losses, reversals of existing taxable temporary differences, tax planning strategies, and forecasts of taxable income. The Company considers all negative and positive evidence, including the weight of the evidence, to determine if valuation allowances against deferred tax assets are required. Tax benefits arising from uncertain tax positions are recognized when it is more-likely-than-not that the position will be sustained upon examination by the relevant tax authorities. The amount recognized in the financial statements is the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. See Note 13 – Income Taxes for further detail.

Net Income Per Share

Basic net income per share attributable to SSI shareholders is computed by dividing net income attributable to SSI shareholders by the weighted average number of outstanding common shares during the period presented including vested deferred stock units (“DSUs”) and restricted stock units (“RSUs”) meeting certain criteria. Diluted net income per share attributable to SSI shareholders is computed by dividing net income attributable to SSI shareholders by the weighted average number of common shares outstanding, assuming dilution. Potentially dilutive common shares include the assumed vesting of performance share, RSU and DSU awards using the treasury stock method. Certain of the Company’s performance share and RSU awards were excluded from the calculation of diluted net income per share attributable to SSI shareholders because they were antidilutive; however, certain of these performance share and RSU awards could be dilutive in the future. Net income attributable to noncontrolling interests is deducted from income from continuing operations to arrive at income from continuing operations attributable to SSI shareholders for the purpose of calculating income per share from continuing operations attributable to SSI shareholders. Income (loss) per share from discontinued operations attributable to SSI shareholders is presented separately in the Consolidated Statements of Income. See Note 14 – Net Income Per Share for further detail.

Use of Estimates

The preparation of the Company’s Consolidated Financial Statements in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenue and expenses during the reporting period. Examples include revenue recognition; the allowance for doubtful accounts; estimates of contingencies, including environmental liabilities and other legal liabilities; goodwill, long-lived asset and indefinite-lived intangible asset valuation; valuation of equity investments; valuation of certain share-based awards; other asset valuation; inventory measurement and valuation; pension plan assumptions; and the assessment of the valuation of deferred income taxes and income tax contingencies. Actual results may differ from estimated amounts.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents, accounts receivable, and notes and other contractual receivables. 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 $250 thousand as of August 31, 2019. 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. The Company is exposed to a residual credit risk with respect to open letters of credit by virtue of the possibility of the failure of a bank providing a letter of credit. The Company had $49 million and $58 million of open letters of credit as of August 31, 2019 and 2018, respectively.

Recent Accounting Pronouncements

12 Months Ended

Aug. 31, 2019

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Recent Accounting Pronouncements

Note 3 – Recent Accounting Pronouncements

In February 2016, an accounting standard was issued that supersedes the lease standard existing at the time and requires a lessee to recognize a lease liability and a lease asset on its balance sheet for all leases greater than 12 months, including those classified as operating leases. The standard also expands the required quantitative and qualitative disclosures surrounding leases. Updates have been issued since February 2016 amending aspects of the initial standard, including providing an additional and optional transition method for adoption. The new lease accounting standard becomes effective for the Company on September 1, 2019. The Company expects to adopt the new guidance using the modified retrospective method, whereby it applies the new requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings as of September 1, 2019. The Company does not expect such cumulative-effect adjustment to be material. Adoption using the modified retrospective method does not have an impact on any prior period earnings of the Company, and no comparative prior periods will be adjusted for the new guidance. The Company expects to elect a package of practical expedients permitted under the transition guidance within the new lease accounting standard, which among other things, permit carrying forward the historical lease classification. The Company also expects to elect practical expedients exempting short-term leases from balance sheet recognition and permitting entities to not separate lease and non-lease components. Adoption of the new standard is expected to result in recognition of approximately $126 million and $128 million of operating lease right-of-use assets and liabilities, respectively, as of September 1, 2019. Payments for short-term leases will continue to be recognized in the income statement on a straight-line basis over the lease term. The new lease standard is not expected to materially impact the Company’s consolidated net income, and it will have no impact on its cash flows. The Company has assessed and will implement changes to its processes, systems (including implementing a software solution), and internal controls as a result of the new guidance.

Inventories

12 Months Ended

Aug. 31, 2019

Inventory Net [Abstract]

Inventories

Note 4 – Inventories

Inventories consisted of the following as of August 31 (in thousands):

		2019		2018
Processed and unprocessed scrap metal	$	81,313	$	111,658
Semi-finished goods		8,712		15,551
Finished goods		53,796		39,809
Supplies		43,499		38,859
Inventories	$	187,320	$	205,877

Property, Plant and Equipment, net

12 Months Ended

Aug. 31, 2019

Property Plant And Equipment Net [Abstract]

Property, Plant and Equipment, net

Note 5 – Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following as of August 31 (in thousands):

		2019			2018
Machinery and equipment	$	697,746		$	679,520
Land and improvements		283,348			269,382
Buildings and leasehold improvements		112,244			108,882
ERP systems		17,760			17,760
Office equipment and other software licenses		43,960			43,175
Construction in progress		67,375			28,553
Property, plant and equipment, gross		1,222,433			1,147,272
Less accumulated depreciation		(766,033	)		(731,561	)
Property, plant and equipment, net	$	456,400		$	415,711

Depreciation expense for property, plant and equipment, which includes amortization expense for assets under capital leases, was $53 million, $49 million and $49 million for the years ended August 31, 2019, 2018, and 2017, respectively.

Goodwill and Other Intangible Assets, Net

12 Months Ended

Aug. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Note 6 – Goodwill and Other Intangible Assets, net

The Company evaluates goodwill for impairment annually on July 1 and upon the occurrence of certain triggering events or substantive changes in circumstances that indicate that the fair value of goodwill may be impaired.

In the second quarter of fiscal 2018, the Company acquired certain assets of a metals recycling business in Columbus, Georgia for $2 million. The acquisition qualified as a business combination under the accounting rules and resulted in the recognition of $1 million of goodwill during the second quarter of fiscal 2018. The Company allocated the acquired goodwill to a reporting unit within the AMR operating segment. The reporting unit did not carry any goodwill immediately prior to the acquisition.

In the second quarter of fiscal 2019, the Company acquired certain assets of an auto recycling business in northern California for $2 million. The acquisition qualified as a business combination under the accounting guidance and resulted in the recognition of $2 million of goodwill during the second quarter of fiscal 2019. The Company allocated the acquired goodwill to the reporting unit within the AMR operating segment which carries nearly all of the Company’s goodwill.

In the fourth quarter of fiscal 2019, the Company performed the annual goodwill impairment test as of July 1, 2019. As of the testing date, the balance of the Company’s goodwill was $170 million, and all but $1 million of such balance was carried by a single reporting unit within AMR. The Company elected to first assess qualitative factors to determine whether the existence of events or circumstances led to a determination that it is more-likely-than-not that the estimated fair value of each reporting unit carrying goodwill is less than its carrying amount. As a result of the qualitative assessment, the Company concluded that it is not more-likely-than-not that the fair value of each reporting unit carrying goodwill is less than its carrying value as of the testing date and, therefore, no further impairment testing was required.

The gross change in the carrying amount of goodwill for the years ended August 31, 2019 and 2018 was as follows (in thousands):

	Goodwill
Balance as of September 1, 2017	$	167,835
Acquisition		1,118
Foreign currency translation adjustment		(888	)
Balance as of August 31, 2018		168,065
Acquisition		1,575
Foreign currency translation adjustment		(403	)
Balance as of August 31, 2019	$	169,237

Accumulated goodwill impairment charges were $471 million as of August 31, 2019 and 2018.

The following table presents the Company’s intangible assets as of August 31 (in thousands):

	2019							2018
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Covenants not to compete	$	5,746	$	(2,862	)	$	2,884	$	5,591	$	(2,596	)	$	2,995
Other intangible assets subject to amortization ⁽¹⁾		771		(254	)		517		1,162		(880	)		282
Indefinite-lived intangibles⁽²⁾		1,081		—			1,081		1,081	—				1,081
Total	$	7,598	$	(3,116	)	$	4,482	$	7,834	$	(3,476	)	$	4,358

(1)	Other intangible assets subject to amortization include leasehold interests, permits and licenses.

(2)	Indefinite-lived intangibles include trade names, permits and licenses, and real property options.

Total intangible asset amortization expense was $1 million in each of the years ended August 31, 2019, 2018 and 2017. Impairments of intangible assets were immaterial for all periods presented.

The estimated amortization expense, based on current intangible asset balances, during the next five fiscal years and thereafter is as follows (in thousands):

Years Ending August 31,	Estimated Amortization Expense
2020	$	624
2021		389
2022		387
2023		332
2024		307
Thereafter		1,362
Total	$	3,401

Debt

12 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Debt

Note 7 – Debt

Debt consisted of the following as of August 31 (in thousands):

		2019			2018
Bank revolving credit facilities, interest primarily at LIBOR plus a spread	$	96,835		$	100,000
Capital lease obligations due through July 2029		7,774			6,787
Other debt obligations		487			589
Total debt		105,096			107,376
Less current maturities		(1,321	)		(1,139	)
Debt, net of current maturities	$	103,775		$	106,237

On August 24, 2018, the Company and certain of its subsidiaries entered into the First Amendment to the Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with Bank of America, N.A., as administrative agent, and the other lenders party thereto, which amended and restated the Company’s existing credit agreement. The Amended Credit Agreement provides for $700 million and C$15 million in senior secured revolving credit facilities maturing in August 2023. Prior to its amendment and renewal, the credit agreement provided for $335 million and C$15 million in senior secured revolving credit facilities. The Company incurred $3 million in debt issuance costs in connection with the Amended Credit Agreement, which are amortized to interest expense over the five-year term of the arrangement. As of August 31, 2019 and 2018, borrowings outstanding under the credit facilities were $97 million and $100 million, respectively. The weighted average interest rate on amounts outstanding under the credit facilities was 3.78% and 3.57% as of August 31, 2019 and 2018, respectively.

Interest rates on outstanding indebtedness under the Amended Credit Agreement are based, at the Company’s option, on either the London Interbank Offered Rate (“LIBOR”), or the Canadian equivalent, plus a spread of between 1.25% and 2.75%, with the amount of the spread based on a pricing grid tied to the Company’s consolidated funded debt to EBITDA ratio, or the greater of the prime rate, the federal funds rate plus 0.50% or the daily rate equal to one-month LIBOR plus 1.75%, in each case plus a spread of between zero and 1.50% based on a pricing grid tied to the Company’s consolidated funded debt to EBITDA ratio. In addition, commitment fees are payable on the unused portion of the credit facilities at rates between 0.15% and 0.45% based on a pricing grid tied to the Company’s consolidated funded debt to EBITDA ratio.

The Amended Credit Agreement contains certain customary covenants, including covenants that limit the ability of the Company and its subsidiaries to enter into certain types of transactions. Financial covenants include covenants requiring maintenance of a minimum fixed charge coverage ratio and a maximum leverage ratio. The Company’s obligations under the Amended Credit Agreement are guaranteed by substantially all of its subsidiaries. The credit facilities and the related guarantees are secured by senior first priority liens on certain of the Company’s and its subsidiaries’ assets, including equipment, inventory and accounts receivable.

As of August 31, 2016, the Company had $8 million of tax-exempt economic development revenue bonds outstanding with the State of Oregon and scheduled to mature in January 2021. In August 2016, the Company exercised its option to redeem the bonds prior to maturity. The Company repaid the bonds in full in September 2016. The $8 million repayment is reported as a cash outflow from financing activities for the fiscal year ended August 31, 2017 on the Consolidated Statement of Cash Flows.

Principal payments on long-term debt and capital lease obligations during the next five fiscal years and thereafter are as follows (in thousands):

Year Ending August 31,	Long-Term Debt		Capital Lease Obligations			Total
2020	$	94	$	1,917		$	2,011
2021		47		1,799			1,846
2022		49		1,751			1,800
2023		96,887		1,622			98,509
2024		56		1,346			1,402
Thereafter		189		1,694			1,883
Total		97,322		10,129			107,451
Amounts representing interest		—		(2,355	)		(2,355	)
Total less interest	$	97,322	$	7,774		$	105,096

The Company maintains stand-by letters of credit to provide for certain obligations including workers’ compensation and performance bonds. The Company had $10 million outstanding under these arrangements as of August 31, 2019 and 2018.

Commitment and Contingencies

12 Months Ended

Aug. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8 – Commitments and Contingencies

Commitments

The Company leases a portion of its capital equipment and certain of its facilities under leases that expire at various dates through fiscal 2047. The majority of the Company’s facility lease agreements include renewal options and rent escalation clauses. Rent expense was $27 million, $27 million and $25 million for fiscal 2019, 2018 and 2017, respectively.

The table below sets forth the Company’s future minimum obligations under non-cancelable operating leases as of August 31, 2019 (in thousands):

Year Ending August 31,	Operating Leases
2020	$	21,286
2021		15,301
2022		12,488
2023		10,419
2024		5,035
Thereafter		16,095
Total	$	80,624

Contingencies – Environmental

Changes in the Company’s environmental liabilities for the years ended August 31, 2019 and 2018 were as follows (in thousands):

Balance

9/1/2017

Liabilities

Established

(Released),

Net

Payments

and

Other

Ending

Balance

8/31/2018

Liabilities

Established

(Released),

Net

Payments

and

Other

Ending

Balance

8/31/2019

Short-

Term

Long-

Term

48,398

9,172

(3,738

)

53,832

1,302

(3,335

)

51,799

6,030

45,769

Recycling Operations

As of August 31, 2019 and 2018, the Company’s recycling operations had environmental liabilities of $52 million and $54 million, respectively, for the potential remediation of locations where it has conducted business or has environmental liabilities from historical or recent activities. The liabilities relate to the investigation and potential future remediation of contaminated sediments and riverbanks, soil contamination, groundwater contamination, storm water runoff issues and other natural resource damages. Except for Portland Harbor and certain liabilities discussed under Other Legacy Environmental Loss Contingencies immediately below, such liabilities were not individually material at any site.

Portland Harbor

In December 2000, the Company was notified by the United States Environmental Protection Agency (“EPA”) under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) that it is one of the potentially responsible parties (“PRPs”) that own or operate or formerly owned or operated sites which are part of or adjacent to the Portland Harbor Superfund site (the “Site”). The precise nature and extent of cleanup of any specific areas within the Site, the parties to be involved, the timing of any specific remedial action and the allocation of the costs for any cleanup among responsible parties have not yet been determined. The process of site investigation, remedy selection, identification of additional PRPs and allocation of costs has been underway for a number of years, but significant uncertainties remain. It is unclear to what extent the Company will be liable for environmental costs or natural resource damage claims or third party contribution or damage claims with respect to the Site.

While the Company participated in certain preliminary Site study efforts, it was not party to the consent order entered into by the EPA with certain other PRPs, referred to as the “Lower Willamette Group” (“LWG”), for a remedial investigation/feasibility study (“RI/FS”). During fiscal 2007, the Company and certain other parties agreed to an interim settlement with the LWG under which the Company made a cash contribution to the LWG RI/FS. The LWG has indicated that it had incurred over $155 million in investigation-related costs over an approximately 18 year period working on the RI/FS. Following submittal of draft RI and FS documents which the EPA largely rejected, the EPA took over the RI/FS process.

The Company has joined with approximately 100 other PRPs, including the LWG members, in a voluntary process to establish an allocation of costs at the Site, including the costs incurred by the LWG in the RI/FS process. The LWG members have also commenced federal court litigation, which has been stayed, seeking to bring additional parties into the allocation process.

In January 2008, the Portland Harbor Natural Resource Trustee Council (“Trustee Council”) invited the Company and other PRPs to participate in funding and implementing the Natural Resource Injury Assessment for the Site. Following meetings among the Trustee Council and the PRPs, funding and participation agreements were negotiated under which the participating PRPs, including the Company, agreed to fund the first phase of the three-phase natural resource damage assessment. Phase 1, which included the development of the Natural Resource Damage Assessment Plan (“AP”) and implementation of several early studies, was substantially completed in 2010. In December 2017, the Company joined with other participating PRPs in agreeing to fund Phase 2 of the natural resource damage assessment, which includes the implementation of the AP to develop information sufficient to facilitate early settlements between the Trustee Council and Phase 2 participants and the identification of restoration projects to be funded by the settlements. In late May 2018, the Trustee Council published notice of its intent to proceed with Phase 3, which will involve the full implementation of the AP and the final injury and damage determination. The Company is proceeding with the process established by the Trustee Council regarding early settlements under Phase 2. It is uncertain whether the Company will enter into an early settlement for natural resource damages or what costs it may incur in any such early settlement.

On January 30, 2017, one of the Trustees, the Confederated Tribes and Bands of the Yakama Nation, which withdrew from the council in 2009, filed a suit against approximately 30 parties, including the Company, seeking reimbursement of certain past and future response costs in connection with remedial action at the Site and recovery of assessment costs related to natural resources damages from releases at and from the Site to the Multnomah Channel and the Lower Columbia River. The parties have filed various motions to dismiss or stay this suit, and in August 2019, the court issued an order denying the motions to dismiss and staying the action. A number of parties have filed to appeal the court’s denial of the motions to dismiss, which filing the Company joined in part. The Company intends to defend against the claims in this suit and does not have sufficient information to determine the likelihood of a loss in this matter or to estimate the amount of damages being sought or the amount of such damages that could be allocated to the Company.

Estimates of the cost of remedial action for the cleanup of the in-river portion of the Site have varied widely in various drafts of the FS and in the EPA’s final FS issued in June 2016 ranging from approximately $170 million to over $2.5 billion (net present value), depending on the remedial alternative and a number of other factors. In comments submitted to the EPA, the Company and certain other stakeholders identified a number of serious concerns regarding the EPA’s risk and remedial alternatives assessments, cost estimates, scheduling assumptions and conclusions regarding the feasibility and effectiveness of remediation technologies.

In January 2017, the EPA issued a Record of Decision (“ROD”) that identified the selected remedy for the Site. The selected remedy is a modified version of one of the alternative remedies evaluated in the EPA’s FS that was expanded to include additional work at a greater cost. The EPA has estimated the total cost of the selected remedy at $1.7 billion with a net present value cost of $1.05 billion (at a 7% discount rate) and an estimated construction period of 13 years following completion of the remedial designs. In the ROD, the EPA stated that the cost estimate is an order-of-magnitude engineering estimate that is expected to be within +50% to -30% of the actual project cost and that changes in the cost elements are likely to occur as a result of new information and data collected during the engineering design. The Company has identified a number of concerns regarding the remedy described in the ROD, which is based on data that is more than a decade old, and the EPA’s estimates for the costs and time required to implement the selected remedy. Because of ongoing questions regarding cost effectiveness, technical feasibility, and the use of stale data, it is uncertain whether the ROD will be implemented as issued. In addition, the ROD did not determine or allocate the responsibility for remediation costs among the PRPs.

In the ROD, the EPA acknowledged that much of the data used in preparing the ROD was more than a decade old and would need to be updated with a new round of “baseline” sampling to be conducted prior to the remedial design phase. Accordingly, the ROD provided for additional pre-remedial design investigative work and baseline sampling to be conducted in order to provide a baseline of current conditions and delineate particular remedial actions for specific areas within the Site. This additional sampling needs to occur prior to proceeding with the next phase in the process which is the remedial design. The remedial design phase is an engineering phase during which additional technical information and data will be collected, identified and incorporated into technical drawings and specifications developed for the subsequent remedial action. Moreover, the ROD provided only Site-wide cost estimates and did not provide sufficient detail to estimate costs for specific sediment management areas within the Site. Following issuance of the ROD, EPA proposed that the PRPs, or a subgroup of PRPs, perform the additional investigative work identified in the ROD under a new consent order.

In December 2017, the Company and three other PRPs entered into a new Administrative Settlement Agreement and Order on Consent with EPA to perform such pre-remedial design investigation and baseline sampling over a two year period. The Company estimated that its share of the costs of performing such work would be approximately $2 million, which it recorded to environmental liabilities and selling, general and administrative expense in the consolidated financial statements in fiscal 2018. The Company believes that such costs will be fully covered by existing insurance coverage and, thus, also recorded an insurance receivable for $2 million in fiscal 2018, resulting in no net impact to the Company’s consolidated results of operations. The Company’s loss contingencies as of August 31, 2019 and 2018 included $1 million and $2 million, respectively, for its estimated share of the costs of the investigation, including pre-remedial design investigative activities.

The pre-remedial design investigation and baseline sampling work has been completed, and the report evaluating the data was submitted to EPA on June 17, 2019. The evaluation report concludes that Site conditions have improved substantially since the data forming the basis of the ROD was collected over a decade ago. The analysis contained in the report has significant implications for remedial design and remedial action at the Site. EPA has reviewed the report, finding with a few limited corrections that the data is of suitable quality and generally acceptable and stating that such data will be used, in addition to existing and forthcoming design-level data, to inform implementation of the ROD. However, EPA did not agree that the data or the analysis support the conclusions presented in the report. The Company and other PRPs disagree with EPA’s position on use of the more recent data and are reviewing EPA’s comments and the Company’s options.

EPA has stated that it wants PRPs to step forward (individually or in groups) to enter into consent agreements to perform remedial design covering the entire Site and has proposed dividing the Site into eight to ten subareas for remedial design. EPA has indicated that it may pursue enforcement or other actions against PRPs who have not entered into consent agreements to perform remedial design by the end of 2019. The Company has engaged in good-faith negotiations with EPA with respect to potentially performing remedial design; but it is unclear whether the Company will reach agreement with EPA, and the timing for completion of remedial design is uncertain but could take three to four years.

Except for certain early action projects in which the Company is not involved, remediation activities are not expected to commence for a number of years. In addition, as discussed above, responsibility for implementing and funding the remedy will be determined in a separate allocation process, which is on-going. The Company would expect the next major stage of the allocation process to proceed in parallel with the remedial design process.

Because there has not been a determination of the specific remediation actions that will be required, the amount of natural resource damages or the allocation of costs of the investigations and any remedy and natural resource damages among the PRPs, the Company believes it is not possible to reasonably estimate the amount or range of costs which it is likely to or which it is reasonably possible that it will incur in connection with the Site, although such costs could be material to the Company’s financial position, results of operations, cash flows and liquidity. Among the facts currently being developed are detailed information on the history of ownership of and the nature of the uses of and activities and operations performed on each property within the Site, which are factors that will play a substantial role in determining the allocation of investigation and remedy costs among the PRPs. The Company has insurance policies that it believes will provide reimbursement for costs it incurs for defense (including the pre-remedial design investigative activities), remedial design, remedial action and mitigation for natural resource damages claims in connection with the Site, although there is no assurance that those policies will cover all of the costs which the Company may incur.

The Oregon Department of Environmental Quality is separately providing oversight of voluntary investigations and source control activities by the Company involving the Company’s sites adjacent to the Portland Harbor which are focused on controlling any current “uplands” releases of contaminants into the Willamette River. No liabilities have been established in connection with these investigations because the extent of contamination (if any) and the Company’s responsibility for the contamination (if any) have not yet been determined.

Other Legacy Environmental Loss Contingencies

The Company’s environmental loss contingencies as of August 31, 2019 and August 31, 2018, other than Portland Harbor, include actual or possible investigation and cleanup costs from historical contamination at sites currently or formerly owned or formerly operated by the Company or at other sites where the Company may have responsibility for such costs due to past disposal or other activities (“legacy environmental loss contingencies”). These legacy environmental loss contingencies relate to the potential remediation of waterways and soil and groundwater contamination and may also involve natural resource damages, governmental fines and penalties and claims by third parties for personal injury and property damage. The Company has been notified that it is or may be a potentially responsible party at certain of these sites, and investigation and cleanup activities are ongoing or may be required in the future. The Company recognizes a liability for such matters when the loss is probable and can be reasonably estimated. When investigation and cleanup activities are ongoing or where the Company has not yet been identified as having responsibility or the contamination has not yet been identified, it is reasonably possible that the Company may need to recognize additional liabilities in connection with such sites but the Company cannot currently reasonably estimate the possible loss or range of loss absent additional information or developments. Such additional liabilities, individually or in the aggregate, may have a material adverse effect on the Company’s results of operations, financial condition or cash flows.

During fiscal 2018, the Company accrued $4 million in expense at its Corporate division for the estimated costs related to remediation of shredder residue disposed of in or around the 1970s at third-party sites located near each other. Investigation activities have been conducted under oversight of the applicable state regulatory agency. As of August 31, 2019 and August 31, 2018, the Company had $4 million accrued for this matter. It is reasonably possible that the Company may recognize additional liabilities in connection with this matter at the time such losses are probable and can be reasonably estimated. The Company currently estimates a range of reasonably possible losses related to this matter in excess of current accruals at between zero and $28 million based on a range of remedial alternatives and subject to development and approval by regulators of a specific remedy implementation plan. The Company is investigating whether a portion or all of the current and future losses related to this matter, if incurred, are covered by existing insurance coverage or may be offset by contributions from other responsible parties.

In addition, the Company’s loss contingencies as of each of August 31, 2019 and August 31, 2018 include $6 million for the estimated costs related to remediation of soil and groundwater conditions, including penalties, in connection with a closed facility owned and previously operated by an indirect, wholly-owned subsidiary. Investigation activities have been conducted under the oversight of the applicable state regulatory agency, and the Company has also been working with local officials with respect to the protection of public water supplies. It is reasonably possible that the Company may recognize additional liabilities, including penalties, in connection with this matter at the time such additional losses are probable and can be reasonably estimated. However, the Company cannot reasonably estimate at this time the possible additional loss or range of possible additional losses associated with this matter pending completion of on-going studies and determination of remediation plans and pending further negotiations to settle the related enforcement matter.

Steel Manufacturing Operations

The Company’s steel manufacturing operations had no known environmental liabilities as of August 31, 2019 and 2018.

The steel mill’s electric arc furnace generates dust (“EAF dust”) that is classified as hazardous waste by the EPA because of its zinc and lead content. As a result, the Company captures the EAF dust and ships it in specialized rail cars to firms that apply treatments that allow for the ultimate disposal of the EAF dust.

The Company’s steel mill has an operating permit issued under Title V of the Clean Air Act Amendments of 1990, which governs certain air quality standards. The permit is based on an annual production capacity of approximately 950 thousand tons. The Company’s permit was first issued in 1998 and has since been renewed through February 1, 2018. The permit renewal process occurs every five years, and the renewal process is underway; however, the existing permit is extended by administrative rule until the current renewal process is finalized.

Summary - Environmental Contingencies

With respect to environmental contingencies other than the Portland Harbor Superfund site and the Other Legacy Environmental Loss Contingencies, which are discussed separately above, management currently believes that adequate provision has been made for the potential impact of its environmental contingencies. Historically, the amounts the Company has ultimately paid for such remediation activities have not been material in any given period, but there can be no assurance that such amounts paid will not be material in the future.

Contingencies - Other

Schnitzer Southeast, LLC (a wholly-owned subsidiary of the Company, “SSE”), an SSE employee, the Company and one of the Company’s insurance carriers had been named as defendants in five separate wrongful death lawsuits filed in the State of Georgia arising from an accident in 2016 in Alabama involving a tractor trailer driven by the SSE employee and owned by SSE. In fiscal 2019, the Company settled three of the five lawsuits for a total of $35 million. Subsequent to the Company’s fiscal 2019 year end, it settled the two remaining lawsuits for a total of $68 million. The aggregate settlement amount of $103 million was substantially covered by insurance, resulting in no net impact to the Company’s consolidated results of operations. As of August 31, 2019 and 2018, the Company had accrued loss contingencies and offsetting insurance receivables related to the lawsuits totaling $83 million and $30 million, respectively. The full amount accrued as of August 31, 2019 was paid in the first quarter of fiscal 2020.

In addition to legal proceedings relating to the contingencies described above, the Company is a party to various legal proceedings arising in the normal course of business. The Company recognizes a liability for such matters when the loss is probable and can be reasonably estimated. The Company does not anticipate that the resolution of such legal proceedings arising in the normal course of business, after taking into consideration expected insurance recoveries, will have a material adverse effect on its results of operations, financial condition, or cash flows.

Accumulated Other Comprehensive Loss

12 Months Ended

Aug. 31, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Loss

Note 9 – Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, are as follows as of August 31, 2019, 2018 and 2017 (in thousands):

	Foreign Currency Translation Adjustments			Pension Obligations, net			Total
Balance as of September 1, 2016	$	(34,539	)	$	(5,576	)	$	(40,115	)
Other comprehensive income before reclassifications		2,711			1,477			4,188
Income tax expense		—			(194	)		(194	)
Other comprehensive income before reclassifications, net of tax		2,711			1,283			3,994
Amounts reclassified from accumulated other comprehensive loss		—			851			851
Income tax benefit		—			(23	)		(23	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			828			828
Net periodic other comprehensive income		2,711			2,111			4,822
Balance as of August 31, 2017		(31,828	)		(3,465	)		(35,293	)
Other comprehensive (loss) income before reclassifications		(2,301	)		64			(2,237	)
Income tax benefit		—			172			172
Other comprehensive (loss) income before reclassifications, net of tax		(2,301	)		236			(2,065	)
Amounts reclassified from accumulated other comprehensive loss		—			536			536
Income tax benefit		—			(415	)		(415	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			121			121
Net periodic other comprehensive (loss) income		(2,301	)		357			(1,944	)
Balance as of August 31, 2018		(34,129	)		(3,108	)		(37,237	)
Other comprehensive loss before reclassifications		(1,560	)		(326	)		(1,886	)
Income tax benefit		—			65			65
Other comprehensive loss before reclassifications, net of tax		(1,560	)		(261	)		(1,821	)
Amounts reclassified from accumulated other comprehensive loss		—			369			369
Income tax benefit		—			(74	)		(74	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			295			295
Net periodic other comprehensive (loss) income		(1,560	)		34			(1,526	)
Balance as of August 31, 2019	$	(35,689	)	$	(3,074	)	$	(38,763	)

In the second quarter of fiscal 2018, the Company adopted an accounting standard update that allowed for a reclassification from accumulated other comprehensive income (AOCI) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (“Tax Act”) enacted on December 22, 2017. Reclassifications from AOCI to retained earnings for stranded tax effects during the year ended August 31, 2018, both individually and in the aggregate, were not material.

Reclassifications from AOCI to earnings, both individually and in the aggregate, were not material to the impacted captions in the Consolidated Statements of Income in all periods presented.

Revenue

12 Months Ended

Aug. 31, 2019

Revenue From Contract With Customer [Abstract]

Revenue

Note 10 - Revenue

Disaggregation of Revenues

The table below illustrates the Company’s revenues disaggregated by major product and sales destination for each reportable segment (in thousands):

	Year Ended August 31, 2019
	AMR		CSS		Intercompany Revenue Eliminations			Total
Major product information:
Ferrous revenues	$	1,123,180	$	51,963	$	(10,424	)	$	1,164,719
Nonferrous revenues		430,361		38,809		(1,147	)		468,023
Steel revenues⁽¹⁾		—		367,956		—			367,956
Retail and other revenues		131,436		688		(41	)		132,083
Total revenues	$	1,684,977	$	459,416	$	(11,612	)	$	2,132,781
Revenues based on sales destination:
Foreign	$	1,047,546	$	93,531	$	—		$	1,141,077
Domestic		637,431		365,885		(11,612	)		991,704
Total revenues	$	1,684,977	$	459,416	$	(11,612	)	$	2,132,781

(1)	Steel revenues include primarily sales of finished steel products, semi-finished goods (billets) and manufacturing scrap.

Receivables from Contracts with Customers

The revenue accounting standard defines a receivable as an entity’s right to consideration that is unconditional, meaning that only the passage of time is required before payment is due. As of August 31, 2019 and August 31, 2018, receivables from contracts with customers, net of an allowance for doubtful accounts, totaled $142 million and $164 million representing 97% of total accounts receivable reported on the Consolidated Balance Sheets.

Contract Liabilities

Contract consideration received from a customer prior to revenue recognition is recorded as a contract liability and is recognized as revenue when the Company satisfies the related performance obligation under the terms of the contract. The Company’s contract liabilities consist almost entirely of customer deposits for recycled scrap metal sales contracts, which are reported within accounts payable on the Consolidated Balance Sheets and totaled $3 million and $9 million as of August 31, 2019 and August 31, 2018, respectively. Unsatisfied performance obligations reflected in these contract liabilities relate to contracts with original expected durations of one year or less and, therefore, are not disclosed. During the fiscal year ended August 31, 2019, the Company reclassified $8 million in customer deposits as of August 31, 2018 to revenues as a result of satisfying performance obligations during the year.

Employee Benefits

12 Months Ended

Aug. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Employee Benefits

Note 11 – Employee Benefits

The Company and certain of its subsidiaries have or contribute to qualified and nonqualified retirement plans covering substantially all employees. These plans include a defined benefit pension plan, a supplemental executive retirement benefit plan (“SERBP”), multiemployer pension plans and defined contribution plans.

Defined Benefit Pension Plan and Supplemental Executive Retirement Benefit Plan

The Company maintains a qualified defined benefit pension plan for certain nonunion employees. Effective June 30, 2006, the Company froze this plan and ceased accruing further benefits for employee service. The Company reflects the funded status of the defined benefit pension plan as a net asset or liability in its Consolidated Balance Sheets. Changes in its funded status are recognized in comprehensive income. The Company amortizes as a component of net periodic pension benefit cost a portion of the net gain or loss reported within accumulated other comprehensive loss if the beginning-of-year net gain or loss exceeds 5% of the greater of the benefit obligation or the market value of plan assets. Net periodic pension benefit cost was not material for all periods presented in this report. The fair value of plan assets was $20 million and $17 million as of August 31, 2019 and 2018, respectively, and the projected benefit obligation was $17 million and $15 million as of August 31, 2019 and 2018, respectively. The plan was fully funded with the plan assets exceeding the projected benefit obligation by $3 million and $2 million as of August 31, 2019 and 2018, respectively. Plan assets comprised entirely Level 1 investments as of August 31, 2019 and 2018. Level 1 investments are valued based on quoted market prices of identical securities in the principal market. No contributions are expected to be made to the defined benefit pension plan in the future; however, changes in the discount rate or actual investment returns that are lower than the long-term expected return on plan assets could result in the need for the Company to make additional contributions. The assumed discount rate used to calculate the projected benefit obligation was 2.83% and 4.01% as of August 31, 2019 and 2018, respectively. The Company estimates future annual benefit payments to be between $1 million and $4 million per year.

The Company also has a nonqualified SERBP for certain executives. A restricted trust fund has been established with assets invested in life insurance policies that can be used for plan benefits, although the fund is subject to claims of the Company’s general creditors. The trust fund is included in other assets, the current portion of the pension liability is included in other accrued liabilities, and the noncurrent portion of the pension liability is included in other long-term liabilities in the Company’s Consolidated Balance Sheets. The trust fund was valued at $4 million as of August 31, 2019 and 2018. The trust fund assets’ gains and losses are included in other income, net in the Company’s Consolidated Statements of Income. The benefit obligation and the unfunded amount were $5 million as of August 31, 2019 and $4 million as of August 31, 2018. Net periodic pension cost under the SERBP was not material for the years ended August 31, 2019, 2018 and 2017.

Because the defined benefit pension plan and the SERBP are not material to the Consolidated Financial Statements, other disclosures required by U.S. GAAP have been omitted.

Multiemployer Pension Plans

The Company contributes to 14 multiemployer pension plans in accordance with its collective bargaining agreements. Multiemployer pension plans are defined benefit plans sponsored by multiple employers in accordance with one or more collective bargaining agreements. The plans are jointly managed by trustees that include representatives from both management and labor unions. Contributions to the plans are made based upon a fixed rate per hour worked and are agreed to by contributing employers and the unions in collective bargaining. Benefit levels are set by a joint board of trustees based on the advice of an independent actuary regarding the level of benefits that agreed-upon contributions can be expected to support. To the extent that the pension obligation of other participating employers is unfunded, the Company may be required to make additional contributions in the future to fund these obligations.

One of the multiemployer plans that the Company contributes to is the Steelworkers Western Independent Shops Pension Plan (“WISPP,” EIN 90-0169564, Plan No. 001) benefiting the union employees of the Company’s steel manufacturing operations, which are covered by a collective bargaining agreement that will expire on March 31, 2022. As of October 1, 2018, the WISPP was certified by the plan’s actuaries as being in the Green Zone, as defined by the Pension Protection Act of 2006. The Company contributed $3 million to the WISPP for each of the years ended August 31, 2019, 2018 and 2017. These contributions represented more than 5% of total contributions to the WISPP for each year.

In 2004, the Internal Revenue Service (“IRS”) approved a seven-year extension of the period over which the WISPP may amortize unfunded liabilities, conditioned upon maintenance of certain minimum funding levels. In 2014, the WISPP obtained relief from the specified funding requirements from the IRS, which requires that the WISPP meet a minimum funded percentage on each valuation date and achieve a funded percentage of 100% as of October 1, 2029. Based on the most recent actuarial valuation for the WISPP, the funded percentage using the valuation method prescribed by the IRS satisfied the minimum funded percentage requirement.

Company contributions to all of the multiemployer plans were $6 million, $5 million and $4 million for the years ended August 31, 2019, 2018 and 2017, respectively.

Defined Contribution Plans

The Company has several defined contribution plans covering certain employees. Company contributions to the defined contribution plans totaled $4 million, $4 million and $3 million for the years ended August 31, 2019, 2018 and 2017, respectively.

Share-Based Compensation

12 Months Ended

Aug. 31, 2019

Share Based Compensation [Abstract]

Share-based Compensation

Note 12 – Share-Based Compensation

The Company’s 1993 Stock Incentive Plan, as amended, (the “Plan”) was established to provide for the grant of stock-based compensation awards to its employees, consultants and directors. The Plan authorizes the grant of restricted shares, restricted stock units, performance-based awards including performance share awards, stock options, stock appreciation rights and other stock-based awards. The Plan is administered by the Compensation Committee of the Company’s Board of Directors (“Compensation Committee”). There are 12.2 million shares of Class A common stock reserved for issuance under the Plan, of which 3.4 million are available for future grants as of August 31, 2019. Share-based compensation expense recognized in cost of goods sold or selling, general and administrative expense, as applicable, was $17 million, $19 million and $11 million for the years ended August 31, 2019, 2018 and 2017, respectively.

Restricted Stock Units (“RSUs”)

During the years ended August 31, 2019, 2018 and 2017, the Compensation Committee granted 261,642, 252,865 and 314,862 RSUs, respectively, to the Company’s key employees and employee directors under the Plan. RSUs generally vest 20% per year over five years commencing October 31 of the year after grant. Each RSU entitles the recipient to receive one share of Class A common stock upon vesting.

The estimated fair value of an RSU is based on the market closing price of the underlying Class A common stock on the date of grant. The weighted average grant date fair value of RSUs granted was $27.61, $26.60 and $20.95 per unit for the years ended August 31, 2019, 2018 and 2017, respectively. The total estimated fair value of RSUs granted during each of the years ended August 31, 2019, 2018 and 2017 was $7 million. RSU compensation expense is recognized over the requisite service period of the award, net of estimated forfeitures, or to the date retirement eligibility is achieved (if before the end of the service period). RSU compensation expense was $6 million, $7 million and $6 million for the years ended August 31, 2019, 2018 and 2017, respectively.

A summary of the Company’s RSU activity for the year ended August 31, 2019 is as follows:

	Number of Units (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2018		812		$	22.59
Granted		262		$	27.61
Vested		(257	)	$	22.75
Forfeited		(19	)	$	24.23
Outstanding as of August 31, 2019		798		$	24.14

The total fair value of RSUs which vested, based on the market closing price of the underlying Class A common stock on the vesting date, was $7 million, $8 million and $5 million for the years ended August 31, 2019, 2018 and 2017, respectively. As of August 31, 2019, total unrecognized compensation costs related to unvested RSUs amounted to $6 million, which is expected to be recognized over a weighted average period of 2 years.

Performance Share Awards

The Plan authorizes performance-based awards to certain employees subject to certain conditions and restrictions. Vesting is subject to both the continued employment of the participant with the Company and the achievement of certain performance goals established by the Compensation Committee. A participant generally must be employed by the Company on October 31 following the end of the performance period to receive an award payout. However, adjusted awards will be paid if employment terminates earlier on account of a qualifying employment termination event such as death, disability, retirement, termination without cause after the first year of the performance period or a sale of the Company or the reportable segments for which the participant works.

The Compensation Committee determined that performance share awards granted in fiscal years 2019, 2018 and 2017 comprise two separate and distinct awards with different vesting conditions. Awards vest if the threshold level under the specified metric is met at the end of the approximately three-year performance period. For awards granted in fiscal 2019 and fiscal 2018, the performance metrics were the Company’s total shareholder return (“TSR”) relative to a designated peer group of 16 companies and the Company’s return on capital employed (“ROCE"). For awards granted in fiscal 2017, the metrics were TSR and the Company’s cash flow return on investment (“CFROI”). In fiscal 2017 only, performance share awards were granted in two stages, the first granted in November 2016 and second granted in April 2017, with a three-year and 2.5-year performance period, respectively. Awards share payouts depend on the extent to which the performance goals have been achieved. The number of shares that a participant receives is equal to the award granted multiplied by a payout factor, which ranges from a threshold of 50% to a maximum of 200%. The TSR award stipulates certain limitations to the payout in the event the payout reaches a defined ceiling level or the Company’s TSR is negative.

The Company estimates the fair value of TSR awards using a Monte-Carlo simulation model utilizing several key assumptions, including the following for TSR awards granted during the fiscal years ended August 31:

	2019			2018			2017
Expected share price volatility (SSI)		42.5	%		44.3	%	40.9 - 43.3%
Expected share price volatility (Peer group)		51.4	%		55.4	%	52.3 - 55.1%
Expected correlation to peer group companies		35.6	%		35.4	%	36.2 - 36.5%
Risk-free rate of return		2.89	%		1.79	%	1.11 - 1.31%

The compensation expense for the TSR awards based on the grant-date fair value, net of estimated forfeitures, is recognized over the requisite service period (or to the date a qualifying employment termination event entitles the recipient to a prorated award, if before the end of the service period), regardless of whether the market condition has been or will be satisfied. Compensation expense for TSR awards was $4 million, $3 million and $2 million for the years ended August 31, 2019, 2018 and 2017, respectively.

The fair value of the ROCE and CFROI awards granted is based on the market closing price of the underlying Class A common stock on the grant date. The Company accrues compensation cost for ROCE and CFROI awards based on the probable outcome of achieving specified performance conditions, net of estimated forfeitures, over the requisite service period (or to the date a qualifying employment termination event entitles the recipient to a prorated award, if before the end of the service period). The Company reassesses whether achievement of the ROCE and CFROI performance conditions is probable at each reporting date. If it is probable that the actual performance results will exceed the stated target performance conditions, the Company accrues additional compensation cost for the additional performance shares to be awarded. If, upon reassessment, it is no longer probable that the actual performance results will exceed the stated target performance conditions, or that it is no longer probable that the target performance conditions will be achieved, the Company reverses any recognized compensation cost for shares no longer probable of being issued. If the performance conditions are not achieved at the end of the service period, all related compensation cost previously recognized is reversed. Compensation expense for ROCE and CFROI awards was $6 million, $8 million and $2 million for the years ended August 31, 2019, 2018 and 2017, respectively.

During the years ended August 31, 2019, 2018 and 2017, the Compensation Committee granted a total of 254,620 (123,812 TSR and 130,808 ROCE), 246,161 (119,763 TSR and 126,398 ROCE), and 302,257 (146,768 TSR and 155,489 CFROI) performance share awards, respectively. The weighted average grant date fair value of performance share awards granted was $28.37, $27.32 and $21.52 for the years ended August 31, 2019, 2018 and 2017, respectively.

A summary of the Company’s performance-based awards activity for the year ended August 31, 2019 is as follows:

	Number of Awards (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2018		880		$	22.09
Granted		255		$	28.37
Performance achievement⁽¹⁾		170		$	18.54
Vested		(500	)	$	18.78
Forfeited		(32	)	$	22.75
Outstanding as of August 31, 2019		773		$	25.49

(1)	Reflects the net number of awards achieved above target levels based on actual performance measured at the end of the performance period.

The total fair value of performance share awards which vested, based on the market closing price of the Company’s Class A common stock on the vesting date, was $13 million and $4 million for the years ended August 31, 2019 and 2017, respectively. No performance shares vested in fiscal year 2018. As of August 31, 2019, total unrecognized compensation costs related to unvested performance share awards amounted to $8 million, which is expected to be recognized over a weighted average period of 2 years.

Deferred Stock Units (“DSUs”)

The Deferred Compensation Plan for Non-Employee Directors (“DSU Plan”) provides for the issuance of DSUs to non-employee directors to be granted under the DSU Plan. Each DSU gives the director the right to receive one share of Class A common stock at a future date. Immediately following the annual meeting of shareholders, each non-employee director will receive DSUs which will become fully vested on the day before the next annual meeting, subject to continued service on the Board. The compensation expense associated with the DSUs granted is recognized over the requisite service period of the awards.

The Company will issue Class A common stock to a director pursuant to vested DSUs in a lump sum in January of the first year after the director ceases to be a director of the Company, subject to the right of the director to elect an installment payment program under the DSU Plan.

DSUs granted during the years ended August 31, 2019, 2018 and 2017 totaled 31,218 shares, 21,806 shares and 42,771 shares, respectively. The compensation expense associated with DSUs and the total value of shares vested during each of the years ended August 31, 2019, 2018 and 2017, as well as the unrecognized compensation expense as of August 31, 2019, were not material.

Income Taxes

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 13 – Income Taxes

Income from continuing operations before income taxes was as follows for the years ended August 31 (in thousands):

	2019		2018		2017
United States	$	69,476	$	131,518	$	43,871
Foreign		6,764		10,335		4,819
Total	$	76,240	$	141,853	$	48,690

Income tax expense (benefit) from continuing operations consisted of the following for the years ended August 31 (in thousands):

		2019	2018			2017
Current:
Federal	$	2,690	$	19,511		$	(1,130	)
State		315		894			190
Foreign		52		—			(16	)
Total current tax expense (benefit)		3,057		20,405			(956	)
Deferred:
Federal		12,930		(5,700	)		2,046
State		794		(1,962	)		232
Foreign		889		(30,333	)		—
Total deferred tax expense (benefit)		14,613		(37,995	)		2,278
Total income tax expense (benefit)	$	17,670	$	(17,590	)	$	1,322

A reconciliation of the difference between the federal statutory rate and the Company’s effective tax rate for the years ended August 31 is as follows:

	2019		2018		2017
Federal statutory rate	21.0	%	25.7	%	35.0	%
State taxes, net of credits	1.2		0.4		1.8
Foreign income taxed at different rates	(0.2	)	(0.5	)	(1.9	)
Valuation allowance on deferred tax assets	(0.2	)	(35.8	)	(31.2	)
Federal rate change	—		(4.9	)	—
Non-deductible officers’ compensation	1.8		1.6		2.2
Noncontrolling interests	(0.5	)	(0.6	)	(1.8	)
Research and development credits	(0.5	)	(0.6	)	(1.5	)
Tax return to provision adjustment	0.5		—		—
Unrecognized tax benefits	0.7		3.4		1.3
Realized foreign investment basis	(0.4	)	(0.2	)	(0.9	)
Excess tax benefit from stock-based compensation	(1.2	)	(0.3	)	—
Other	1.0		(0.6	)	(0.3	)
Effective tax rate	23.2	%	(12.4	)%	2.7	%

On December 22, 2017, the President of the United States signed and enacted into law comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”), which, except for certain provisions, is effective for tax years beginning on or after January 1, 2018. The Tax Act’s primary change is a reduction in the federal statutory corporate tax rate from 35% to 21%, resulting in a pro rata reduction for the Company from 35% to 25.7% for fiscal 2018 and a full reduction to 21% for fiscal 2019. As a change in tax law is accounted for in the period of enactment, the Company recognized a discrete benefit of $7 million in the second quarter of fiscal 2018 due to the revaluation of U.S. net deferred tax liabilities to reflect the lower statutory rate. The Company’s effective tax rate in fiscal 2018 also reflected application of the Tax Act’s lower federal statutory corporate tax rate to fiscal 2018 taxable income. Other pertinent changes in the Tax Act include, but are not limited to, the acceleration of deductions for qualified property placed in service after September 27, 2017, limitations to the deductibility of some executive compensation, and the elimination of the deduction for qualified domestic production activities. Changes in the Tax Act that did not significantly impact the Company upon enactment include implementation of a modified territorial tax system and other modifications to how foreign earnings are subject to U.S. tax, including a tax on Global Intangible Low-Taxed Income which the Company has elected to treat as period costs if and when incurred. The Company’s accounting for the impacts of the Tax Act was complete as of November 30, 2018. The Company did not record any material adjustments to the provisional amounts recorded in the second quarter of fiscal 2018 related to the Tax Act.

Effective Tax Rate

The Company’s effective tax rate from continuing operations in fiscal 2019 was an expense of 23.2%, compared to a benefit of 12.4% in the prior year. The Company reported a tax benefit on pre-tax income for fiscal 2018 primarily due to the release of valuation allowances against certain deferred tax assets, resulting in recognition of discrete tax benefits totaling $37 million in fiscal 2018, and the impact of the Tax Act.

The Company’s effective tax rate from continuing operations in fiscal 2017 was an expense of 2.7%, which was lower than the U.S. federal statutory corporate rate at the time of 35% primarily due to the Company’s full valuation allowance positions and federal income tax refund claims, partially offset by increases in deferred tax liabilities from indefinite-lived assets in all jurisdictions.

Deferred tax assets and liabilities comprised the following as of August 31 (in thousands):

		2019			2018
Deferred tax assets:
Amortizable goodwill and other intangibles	$	22,646		$	27,433
State credit carryforwards		8,202			8,243
Environmental liabilities		7,164			7,853
Net operating loss carryforwards		7,122			7,206
Employee benefit accruals		6,289			10,677
Inventory valuation methods		1,748			944
Other		6,405			6,320
Valuation allowances		(16,436	)		(16,484	)
Total deferred tax assets		43,140			52,192
Deferred tax liabilities:
Accelerated depreciation and other basis differences		37,493			31,622
Prepaid expense acceleration		2,263			1,979
Total deferred tax liabilities		39,756			33,601
Net deferred tax asset	$	3,384		$	18,591

As of August 31, 2019, foreign operating loss carryforwards were $16 million, which expire if not used between 2024 and 2039. State credit carryforwards will expire if not used between 2019 and 2032.

Valuation Allowances

The Company assesses the realizability of its deferred tax assets on a quarterly basis through an analysis of potential sources of future taxable income, including prior year taxable income available to absorb a carryback of tax losses, reversals of existing taxable temporary differences, tax planning strategies, and forecasts of taxable income. The Company considers all negative and positive evidence, including the weight of the evidence, to determine if valuation allowances against deferred tax assets are required. In fiscal 2018, the Company released valuation allowances against certain U.S. federal and state and Canadian deferred tax assets resulting in discrete tax benefits totaling $37 million. The release of these valuation allowances was the result of sufficient positive evidence at the time, including cumulative income in the Company’s U.S. and Canadian tax jurisdictions in recent years and projections of future taxable income based primarily on the Company's improved financial performance, that it is more-likely-than-not that the deferred tax assets will be realized. The Company continues to maintain valuation allowances against certain U.S. federal, state, Canadian and all Puerto Rican deferred tax assets. Canadian deferred tax assets against which the Company continues to maintain a valuation allowance relate to indefinite-lived assets.

Accounting for Uncertainty in Income Taxes

The following table summarizes the activity related to the Company’s reserve for unrecognized tax benefits, excluding interest and penalties, for the years ended August 31 (in thousands):

		2019			2018			2017
Unrecognized tax benefits, as of the beginning of the year	$	5,054		$	5,548		$	4,724
Additions (reductions) for tax positions of prior years		(151	)		171			(120	)
Additions for tax positions of the current year		507			596			944
Reduction attributable to federal tax reform		—			(1,261	)		—
Unrecognized tax benefits, as of the end of the year	$	5,410		$	5,054		$	5,548

The Company does not anticipate any material changes to the reserve in the next 12 months. The recognized amounts of tax-related penalties and interest were not material for all periods presented.

The Company files federal and state income tax returns in the U.S. and foreign tax returns in Puerto Rico and Canada. For U.S. federal income tax returns, fiscal years 2013 to 2018 remain subject to examination under the statute of limitations.

Net Income Per Share

12 Months Ended

Aug. 31, 2019

Earnings Per Share [Abstract]

Net Income Per Share

Note 14 – Net Income Per Share

The following table sets forth the information used to compute basic and diluted net income per share attributable to SSI shareholders for the years ended August 31 (in thousands):

		2019			2018			2017
Income from continuing operations	$	58,570		$	159,443		$	47,368
Net income attributable to noncontrolling interests		(1,977	)		(3,338	)		(2,467	)
Income from continuing operations attributable to SSI shareholders		56,593			156,105			44,901
(Loss) income from discontinued operations, net of tax		(248	)		346			(390	)
Net income attributable to SSI shareholders	$	56,345		$	156,451		$	44,511
Computation of shares:
Weighted average common shares outstanding, basic		27,527			27,645			27,537
Incremental common shares attributable to dilutive performance share, RSU and DSU awards		695			944			604
Weighted average common shares outstanding, diluted		28,222			28,589			28,141

Common stock equivalent shares of 92,873, 62,019 and 251,899 were considered antidilutive and were excluded from the calculation of diluted net income per share attributable to SSI shareholders for the years ended August 31, 2019, 2018 and 2017, respectively.

Segment Information

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Segment Information

Note 16 – Segment Information

The accounting standards for reporting information about operating segments define an operating segment as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses for which discrete financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

The Company holds noncontrolling ownership interests in joint ventures, which are either in the metals recycling business or are suppliers of unprocessed metal. The Company’s allocable portion of the results of these joint ventures is reported within the segment results. As of August 31, 2019, the Company had two 50%-owned joint venture interests, one presented as part of AMR operations, and one presented as part of CSS operations. The joint venture within CSS sells recycled scrap metal to other operations within CSS at prices that approximate local market rates, which produces intercompany profit. This intercompany profit is eliminated while the products remain in inventory and is not recognized until the finished products are sold to third parties. During fiscal 2018, two of the Company’s 50% joint venture interests presented as part of AMR operations dissolved. During fiscal 2017, the Company sold one of its 50% joint venture interests presented as part of CSS operations.

Intersegment sales from AMR to CSS are made at prices that approximate local market rates. These intercompany sales tend to produce intercompany profit which is not recognized until the finished products are ultimately sold to third parties.

The information provided below is obtained from internal information that is provided to the Company’s chief operating decision maker for the purpose of corporate management. The Company uses segment operating income to measure segment performance. The Company does not allocate corporate interest income and expense, income taxes and other income to its reportable segments. Certain expenses related to shared services that support operational activities and transactions are allocated from Corporate to the segments. Unallocated Corporate expense consists primarily of expense for management and certain administrative services that benefit both reportable segments. In addition, the Company does not allocate certain items to segment operating income because management does not include the information in its measurement of the performance of the operating segments. Such unallocated items include restructuring charges and other exit-related activities, charges (net of recoveries) related to legacy environmental matters, and provisions for certain legal matters. Because of the unallocated income and expense, the operating income of each reportable segment does not reflect the operating income the reportable segment would report as a stand-alone business. The results of discontinued operations are excluded from segment operating income and are presented separately, net of tax, from the results of ongoing operations for all periods presented.

In the fourth quarter of fiscal 2018, the Company modified its measurement of segment operating income to classify all legacy environmental charges within Corporate in order to align the measures with how the Chief Executive Officer, who is considered the Company’s chief operating decision maker, reviews performance and makes decisions on resource allocation. The change has been applied prospectively beginning in the fourth quarter of fiscal 2018, and such legacy environmental charges incurred during the quarter are reported within the Corporate division. In the fourth quarter of fiscal 2018, the Company recorded $1 million of legacy environmental charges to the Corporate division that, prior to the change, would have been classified within AMR. Legacy environmental charges reflected in AMR’s operating results prior to the change are not material to the Consolidated Financial Statements either individually or in the aggregate. Environmental charges are reported within selling, general and administrative expense in the Consolidated Statements of Income.

The following is a summary of the Company’s total assets as of August 31 (in thousands):

		2019			2018
Total assets:
Auto and Metals Recycling⁽¹⁾	$	1,561,267		$	1,485,626
Cascade Steel and Scrap		769,930			740,967
Total segment assets		2,331,197			2,226,593
Corporate and eliminations⁽²⁾		(1,170,451	)		(1,121,776	)
Total assets	$	1,160,746		$	1,104,817
Property, plant and equipment, net⁽³⁾	$	456,400		$	415,711

(1)	AMR total assets include $3 million and $4 million as of August 31, 2019 and 2018, respectively, for investments in joint ventures. CSS total assets include $7 million and $8 million as of August 31, 2019 and 2018, respectively, for investment in joint ventures.

(2)	The substantial majority of Corporate and eliminations total assets consist of Corporate intercompany payables to the Company’s operating segments and intercompany eliminations.

(3)	Property, plant and equipment, net includes $14 million and $15 million as of August 31, 2019 and 2018, respectively, at the Company’s Canadian locations.

The table below illustrates the Company’s results from continuing operations by reportable segment for the years ended August 31 (in thousands):

		2019			2018			2017
AMR:
Revenues	$	1,684,977		$	1,908,966		$	1,363,618
Less: Intersegment revenues		(11,612	)		(24,892	)		(15,647	)
AMR external customer revenues		1,673,365			1,884,074			1,347,971
CSS:
Revenues		459,416			480,641			339,620
Total revenues	$	2,132,781		$	2,364,715		$	1,687,591
Depreciation and amortization:
AMR	$	38,816		$	35,564		$	34,853
CSS		11,781			11,724			12,525
Segment depreciation and amortization		50,597			47,288			47,378
Corporate		2,739			2,384			2,462
Total depreciation and amortization	$	53,336		$	49,672		$	49,840
Capital expenditures:
AMR	$	78,706		$	67,099		$	34,575
CSS		15,345			9,600			10,224
Segment capital expenditures		94,051			76,699			44,799
Corporate		562			927			141
Total capital expenditures	$	94,613		$	77,626		$	44,940
Reconciliation of the Company’s segment operating income to income from continuing operations before income taxes:
AMR⁽¹⁾	$	95,991		$	169,120		$	91,405
CSS⁽²⁾		31,951			38,286			5,275
Segment operating income		127,942			207,406			96,680
Restructuring charges and other exit-related activities		(365	)		661			109
Corporate and eliminations		(43,712	)		(59,079	)		(40,776	)
Operating income		83,865			148,988			56,013
Interest expense		(8,266	)		(8,983	)		(8,081	)
Other income, net		641			1,848			758
Income from continuing operations before income taxes	$	76,240		$	141,853		$	48,690

(1)	AMR operating income includes less than $1 million, less than $(1) million, and $2 million in income (loss) from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

(2)	CSS operating income includes $1 million, $2 million, and $1 million in income from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

The following revenues from external customers are presented by major product and based on the sales destination for the years ended August 31 (in thousands):

	2019		2018		2017
Major product information:
Ferrous revenues	$	1,164,719	$	1,328,447	$	855,161
Nonferrous revenues		468,023		529,466		425,989
Steel revenues⁽¹⁾		367,956		367,560		280,767
Retail and other revenues		132,083		139,242		125,674
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591
Revenues based on sales destination:
Foreign	$	1,141,077	$	1,354,460	$	894,265
Domestic		991,704		1,010,255		793,326
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591

(1)	Steel revenues include primarily sales of finished steel products, semi-finished goods (billets) and manufacturing scrap.

(2)	In fiscal 2019, the Company modified its categories of revenues from external customers by major product. The major product revenues for fiscal 2018 and 2017 have been revised to conform to the current presentation, with such revisions being immaterial to each year.

In fiscal 2019, 2018 and 2017, the Company had no external customer that accounted for more than 10% of the Company’s consolidated revenues. Sales to customers located in foreign countries are a significant part of the Company’s business. The schedule below identifies those foreign countries to which the Company’s sales exceeded 10% of consolidated revenues in any of the last three years ended August 31 (in thousands):

2019

% of

Revenue

2018

% of

Revenue

2017

% of

Revenue

Turkey⁽¹⁾

N/A

262,835

N/A

China⁽¹⁾

N/A

255,097

216,231

(1)	^{N/A = Sales were less than the 10% threshold.}

Quarterly Financial Data (Unaudited)

12 Months Ended

Aug. 31, 2019

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

In the opinion of management, this unaudited quarterly financial summary includes all adjustments necessary for a fair statement of the results for the periods represented (in thousands, except per share amounts):

	Fiscal 2019
	First		Second		Third		Fourth
Revenues	$	564,020	$	473,565	$	547,396	$	547,800
Cost of goods sold	$	490,132	$	414,688	$	474,598	$	479,117
Operating income	$	22,689	$	19,036	$	24,459	$	17,681
Income from continuing operations attributable to SSI shareholders	$	16,260	$	13,030	$	15,682	$	11,621
Basic income per share from continuing operations attributable to SSI shareholders	$	0.59	$	0.47	$	0.57	$	0.42
Diluted income per share from continuing operations attributable to SSI shareholders	$	0.57	$	0.46	$	0.56	$	0.41
Net income	$	16,618	$	13,297	$	16,440	$	11,967
Net income attributable to SSI shareholders	$	16,188	$	12,892	$	15,690	$	11,575
Basic net income per share attributable to SSI shareholders	$	0.59	$	0.47	$	0.57	$	0.42
Diluted net income per share attributable to SSI shareholders	$	0.57	$	0.46	$	0.56	$	0.41

	Fiscal 2018
	First		Second		Third		Fourth
Revenues	$	483,279	$	559,443	$	652,416	$	669,577
Cost of goods sold	$	406,251	$	472,462	$	549,164	$	582,608
Operating income	$	26,423	$	33,358	$	51,234	$	37,973
Income from continuing operations attributable to SSI shareholders	$	18,399	$	40,852	$	37,458	$	59,396
Basic income per share from continuing operations attributable to SSI shareholders	$	0.66	$	1.47	$	1.35	$	2.17
Diluted income per share from continuing operations attributable to SSI shareholders	$	0.64	$	1.42	$	1.31	$	2.08
Net income	$	19,221	$	41,919	$	38,448	$	60,201
Net income attributable to SSI shareholders	$	18,364	$	41,016	$	37,402	$	59,669
Basic net income per share attributable to SSI shareholders	$	0.66	$	1.48	$	1.35	$	2.18
Diluted net income per share attributable to SSI shareholders	$	0.64	$	1.42	$	1.31	$	2.09

In the second quarter of fiscal 2018, results included an income tax benefit of $7 million related to the impacts of U.S. federal tax legislation enacted during the quarter, and a discrete income tax benefit of $7 million related to the release of valuation allowances against certain U.S. and state deferred tax assets. In the fourth quarter of fiscal 2018, results included a discrete income tax benefit of $30 million related to the release of valuation allowances against certain deferred tax assets.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Aug. 31, 2019

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II – Valuation and Qualifying Accounts

For the Years Ended August 31, 2019, 2018 and 2017

(In thousands)

Column A	Column B		Column C		Column D			Column E
Description	Balance at Beginning of Period		Charges to Cost and Expenses		Deductions			Balance at End of Period
Fiscal 2019
Allowance for doubtful accounts	$	2,586	$	74	$	(1,091	)	$	1,569
Deferred tax valuation allowance	$	16,484	$	472	$	(520	)	$	16,436
Fiscal 2018
Allowance for doubtful accounts	$	2,280	$	323	$	(17	)	$	2,586
Deferred tax valuation allowance	$	67,348	$	—	$	(50,864	)	$	16,484
Fiscal 2017
Allowance for doubtful accounts	$	2,315	$	126	$	(161	)	$	2,280
Deferred tax valuation allowance	$	83,891	$	690	$	(17,233	)	$	67,348

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Accounting Changes

Discontinued Operations

Cash and Cash Equivalents

Accounts Receivable, net

Inventories

Property, Plant and Equipment, net

As of August 31, 2019, the useful lives used for depreciation and amortization were as follows:

		Useful Life (in years)
Machinery and equipment		3 to 40
Land improvements		3 to 35
Buildings and leasehold improvements		5 to 40
Office equipment and other software licenses		3 to 10
Enterprise Resource Planning (“ERP”) systems		6 to 17

Other Assets

Prepaid Expenses

Other Assets

Long-Lived Assets

Investments in Joint Ventures

Goodwill and Other Intangible Assets, net

Acquisitions

Restructuring Charges

Accrued Workers Compensation Costs

Accrued Workers’ Compensation Costs

Environmental Liabilities

Loss Contingencies

Financial Instruments

Fair Value Measurements

•

Level 1 – Unadjusted quoted prices in active markets for identical assets and liabilities.

•

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the determination of the fair value of the asset or liability, either directly or indirectly.

•

Level 3 – Unobservable inputs that are significant to the determination of the fair value of the asset or liability.

Derivatives

Foreign Currency Translation and Transactions

The Company expenses advertising costs when incurred. Advertising expense was $6 million in fiscal 2019, 2018 and 2017, respectively.

Share-Based Compensation

Income Taxes

Net Income Per Share

Use of Estimates

Concentration Risk of Credit Risk

Concentration of Credit Risk

Recent Accounting Pronouncements

Inventories (Tables)

12 Months Ended

Aug. 31, 2019

Inventory Net [Abstract]

Schedule of Inventories

Inventories consisted of the following as of August 31 (in thousands):

		2019		2018
Processed and unprocessed scrap metal	$	81,313	$	111,658
Semi-finished goods		8,712		15,551
Finished goods		53,796		39,809
Supplies		43,499		38,859
Inventories	$	187,320	$	205,877

Property, Plant and Equipment, net (Tables)

12 Months Ended

Aug. 31, 2019

Property Plant And Equipment Net [Abstract]

Property, Plant and Equipment

Property, plant and equipment, net consisted of the following as of August 31 (in thousands):

		2019			2018
Machinery and equipment	$	697,746		$	679,520
Land and improvements		283,348			269,382
Buildings and leasehold improvements		112,244			108,882
ERP systems		17,760			17,760
Office equipment and other software licenses		43,960			43,175
Construction in progress		67,375			28,553
Property, plant and equipment, gross		1,222,433			1,147,272
Less accumulated depreciation		(766,033	)		(731,561	)
Property, plant and equipment, net	$	456,400		$	415,711

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Aug. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Gross Change in Carrying Amount of Goodwill

The gross change in the carrying amount of goodwill for the years ended August 31, 2019 and 2018 was as follows (in thousands):

	Goodwill
Balance as of September 1, 2017	$	167,835
Acquisition		1,118
Foreign currency translation adjustment		(888	)
Balance as of August 31, 2018		168,065
Acquisition		1,575
Foreign currency translation adjustment		(403	)
Balance as of August 31, 2019	$	169,237

Schedule of Intangible Assets

The following table presents the Company’s intangible assets as of August 31 (in thousands):

	2019							2018
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Covenants not to compete	$	5,746	$	(2,862	)	$	2,884	$	5,591	$	(2,596	)	$	2,995
Other intangible assets subject to amortization ⁽¹⁾		771		(254	)		517		1,162		(880	)		282
Indefinite-lived intangibles⁽²⁾		1,081		—			1,081		1,081	—				1,081
Total	$	7,598	$	(3,116	)	$	4,482	$	7,834	$	(3,476	)	$	4,358

(1)	Other intangible assets subject to amortization include leasehold interests, permits and licenses.

(2)	Indefinite-lived intangibles include trade names, permits and licenses, and real property options.

Schedule of Estimated Amortization Expenses

The estimated amortization expense, based on current intangible asset balances, during the next five fiscal years and thereafter is as follows (in thousands):

Years Ending August 31,	Estimated Amortization Expense
2020	$	624
2021		389
2022		387
2023		332
2024		307
Thereafter		1,362
Total	$	3,401

Debt (Tables)

12 Months Ended

Aug. 31, 2019

Long Term Debt And Capital Lease Obligations [Abstract]

Schedule of Debt

Debt consisted of the following as of August 31 (in thousands):

		2019			2018
Bank revolving credit facilities, interest primarily at LIBOR plus a spread	$	96,835		$	100,000
Capital lease obligations due through July 2029		7,774			6,787
Other debt obligations		487			589
Total debt		105,096			107,376
Less current maturities		(1,321	)		(1,139	)
Debt, net of current maturities	$	103,775		$	106,237

Summary of Principal Payments on Long-term Debt and Capital Lease Obligations

Principal payments on long-term debt and capital lease obligations during the next five fiscal years and thereafter are as follows (in thousands):

Year Ending August 31,	Long-Term Debt		Capital Lease Obligations			Total
2020	$	94	$	1,917		$	2,011
2021		47		1,799			1,846
2022		49		1,751			1,800
2023		96,887		1,622			98,509
2024		56		1,346			1,402
Thereafter		189		1,694			1,883
Total		97,322		10,129			107,451
Amounts representing interest		—		(2,355	)		(2,355	)
Total less interest	$	97,322	$	7,774		$	105,096

Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Schedule Of Future Minimum Operating Lease Obligations

The table below sets forth the Company’s future minimum obligations under non-cancelable operating leases as of August 31, 2019 (in thousands):

Year Ending August 31,	Operating Leases
2020	$	21,286
2021		15,301
2022		12,488
2023		10,419
2024		5,035
Thereafter		16,095
Total	$	80,624

Schedule Of Reserves For Environmental Liabilities

Changes in the Company’s environmental liabilities for the years ended August 31, 2019 and 2018 were as follows (in thousands):

Balance

9/1/2017

Liabilities

Established

(Released),

Net

Payments

and

Other

Ending

Balance

8/31/2018

Liabilities

Established

(Released),

Net

Payments

and

Other

Ending

Balance

8/31/2019

Short-

Term

Long-

Term

48,398

9,172

(3,738

)

53,832

1,302

(3,335

)

51,799

6,030

45,769

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Aug. 31, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, are as follows as of August 31, 2019, 2018 and 2017 (in thousands):

	Foreign Currency Translation Adjustments			Pension Obligations, net			Total
Balance as of September 1, 2016	$	(34,539	)	$	(5,576	)	$	(40,115	)
Other comprehensive income before reclassifications		2,711			1,477			4,188
Income tax expense		—			(194	)		(194	)
Other comprehensive income before reclassifications, net of tax		2,711			1,283			3,994
Amounts reclassified from accumulated other comprehensive loss		—			851			851
Income tax benefit		—			(23	)		(23	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			828			828
Net periodic other comprehensive income		2,711			2,111			4,822
Balance as of August 31, 2017		(31,828	)		(3,465	)		(35,293	)
Other comprehensive (loss) income before reclassifications		(2,301	)		64			(2,237	)
Income tax benefit		—			172			172
Other comprehensive (loss) income before reclassifications, net of tax		(2,301	)		236			(2,065	)
Amounts reclassified from accumulated other comprehensive loss		—			536			536
Income tax benefit		—			(415	)		(415	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			121			121
Net periodic other comprehensive (loss) income		(2,301	)		357			(1,944	)
Balance as of August 31, 2018		(34,129	)		(3,108	)		(37,237	)
Other comprehensive loss before reclassifications		(1,560	)		(326	)		(1,886	)
Income tax benefit		—			65			65
Other comprehensive loss before reclassifications, net of tax		(1,560	)		(261	)		(1,821	)
Amounts reclassified from accumulated other comprehensive loss		—			369			369
Income tax benefit		—			(74	)		(74	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			295			295
Net periodic other comprehensive (loss) income		(1,560	)		34			(1,526	)
Balance as of August 31, 2019	$	(35,689	)	$	(3,074	)	$	(38,763	)

Revenue (Tables)

12 Months Ended

Aug. 31, 2019

Revenue From Contract With Customer [Abstract]

Summary of Revenues Disaggregated by Major Product and Sales Destination for Each Reportable Segment

The table below illustrates the Company’s revenues disaggregated by major product and sales destination for each reportable segment (in thousands):

	Year Ended August 31, 2019
	AMR		CSS		Intercompany Revenue Eliminations			Total
Major product information:
Ferrous revenues	$	1,123,180	$	51,963	$	(10,424	)	$	1,164,719
Nonferrous revenues		430,361		38,809		(1,147	)		468,023
Steel revenues⁽¹⁾		—		367,956		—			367,956
Retail and other revenues		131,436		688		(41	)		132,083
Total revenues	$	1,684,977	$	459,416	$	(11,612	)	$	2,132,781
Revenues based on sales destination:
Foreign	$	1,047,546	$	93,531	$	—		$	1,141,077
Domestic		637,431		365,885		(11,612	)		991,704
Total revenues	$	1,684,977	$	459,416	$	(11,612	)	$	2,132,781

(1)	Steel revenues include primarily sales of finished steel products, semi-finished goods (billets) and manufacturing scrap.

Share-based Compensation (Tables)

12 Months Ended

Aug. 31, 2019

Share Based Compensation [Abstract]

Summary of RSU Activity

A summary of the Company’s RSU activity for the year ended August 31, 2019 is as follows:

	Number of Units (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2018		812		$	22.59
Granted		262		$	27.61
Vested		(257	)	$	22.75
Forfeited		(19	)	$	24.23
Outstanding as of August 31, 2019		798		$	24.14

Key Assumptions for a Monte-Carlo Simulation Model Utilized to Estimate the Fair Value of TSR awards

	2019			2018			2017
Expected share price volatility (SSI)		42.5	%		44.3	%	40.9 - 43.3%
Expected share price volatility (Peer group)		51.4	%		55.4	%	52.3 - 55.1%
Expected correlation to peer group companies		35.6	%		35.4	%	36.2 - 36.5%
Risk-free rate of return		2.89	%		1.79	%	1.11 - 1.31%

Summary of Performance-based Awards Activity

A summary of the Company’s performance-based awards activity for the year ended August 31, 2019 is as follows:

	Number of Awards (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2018		880		$	22.09
Granted		255		$	28.37
Performance achievement⁽¹⁾		170		$	18.54
Vested		(500	)	$	18.78
Forfeited		(32	)	$	22.75
Outstanding as of August 31, 2019		773		$	25.49

(1)	Reflects the net number of awards achieved above target levels based on actual performance measured at the end of the performance period.

Income Taxes (Tables)

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income taxes was as follows for the years ended August 31 (in thousands):

	2019		2018		2017
United States	$	69,476	$	131,518	$	43,871
Foreign		6,764		10,335		4,819
Total	$	76,240	$	141,853	$	48,690

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) from continuing operations consisted of the following for the years ended August 31 (in thousands):

		2019	2018			2017
Current:
Federal	$	2,690	$	19,511		$	(1,130	)
State		315		894			190
Foreign		52		—			(16	)
Total current tax expense (benefit)		3,057		20,405			(956	)
Deferred:
Federal		12,930		(5,700	)		2,046
State		794		(1,962	)		232
Foreign		889		(30,333	)		—
Total deferred tax expense (benefit)		14,613		(37,995	)		2,278
Total income tax expense (benefit)	$	17,670	$	(17,590	)	$	1,322

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the difference between the federal statutory rate and the Company’s effective tax rate for the years ended August 31 is as follows:

	2019		2018		2017
Federal statutory rate	21.0	%	25.7	%	35.0	%
State taxes, net of credits	1.2		0.4		1.8
Foreign income taxed at different rates	(0.2	)	(0.5	)	(1.9	)
Valuation allowance on deferred tax assets	(0.2	)	(35.8	)	(31.2	)
Federal rate change	—		(4.9	)	—
Non-deductible officers’ compensation	1.8		1.6		2.2
Noncontrolling interests	(0.5	)	(0.6	)	(1.8	)
Research and development credits	(0.5	)	(0.6	)	(1.5	)
Tax return to provision adjustment	0.5		—		—
Unrecognized tax benefits	0.7		3.4		1.3
Realized foreign investment basis	(0.4	)	(0.2	)	(0.9	)
Excess tax benefit from stock-based compensation	(1.2	)	(0.3	)	—
Other	1.0		(0.6	)	(0.3	)
Effective tax rate	23.2	%	(12.4	)%	2.7	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities comprised the following as of August 31 (in thousands):

		2019			2018
Deferred tax assets:
Amortizable goodwill and other intangibles	$	22,646		$	27,433
State credit carryforwards		8,202			8,243
Environmental liabilities		7,164			7,853
Net operating loss carryforwards		7,122			7,206
Employee benefit accruals		6,289			10,677
Inventory valuation methods		1,748			944
Other		6,405			6,320
Valuation allowances		(16,436	)		(16,484	)
Total deferred tax assets		43,140			52,192
Deferred tax liabilities:
Accelerated depreciation and other basis differences		37,493			31,622
Prepaid expense acceleration		2,263			1,979
Total deferred tax liabilities		39,756			33,601
Net deferred tax asset	$	3,384		$	18,591

Summary of Reserve for Unrecognized Tax Benefits, Excluding Interest and Penalties

The following table summarizes the activity related to the Company’s reserve for unrecognized tax benefits, excluding interest and penalties, for the years ended August 31 (in thousands):

		2019			2018			2017
Unrecognized tax benefits, as of the beginning of the year	$	5,054		$	5,548		$	4,724
Additions (reductions) for tax positions of prior years		(151	)		171			(120	)
Additions for tax positions of the current year		507			596			944
Reduction attributable to federal tax reform		—			(1,261	)		—
Unrecognized tax benefits, as of the end of the year	$	5,410		$	5,054		$	5,548

Net Income Per Share (Tables)

12 Months Ended

Aug. 31, 2019

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

The following table sets forth the information used to compute basic and diluted net income per share attributable to SSI shareholders for the years ended August 31 (in thousands):

		2019			2018			2017
Income from continuing operations	$	58,570		$	159,443		$	47,368
Net income attributable to noncontrolling interests		(1,977	)		(3,338	)		(2,467	)
Income from continuing operations attributable to SSI shareholders		56,593			156,105			44,901
(Loss) income from discontinued operations, net of tax		(248	)		346			(390	)
Net income attributable to SSI shareholders	$	56,345		$	156,451		$	44,511
Computation of shares:
Weighted average common shares outstanding, basic		27,527			27,645			27,537
Incremental common shares attributable to dilutive performance share, RSU and DSU awards		695			944			604
Weighted average common shares outstanding, diluted		28,222			28,589			28,141

Segment Information (Tables)

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Summary of Total Assets

The following is a summary of the Company’s total assets as of August 31 (in thousands):

		2019			2018
Total assets:
Auto and Metals Recycling⁽¹⁾	$	1,561,267		$	1,485,626
Cascade Steel and Scrap		769,930			740,967
Total segment assets		2,331,197			2,226,593
Corporate and eliminations⁽²⁾		(1,170,451	)		(1,121,776	)
Total assets	$	1,160,746		$	1,104,817
Property, plant and equipment, net⁽³⁾	$	456,400		$	415,711

(1)	AMR total assets include $3 million and $4 million as of August 31, 2019 and 2018, respectively, for investments in joint ventures. CSS total assets include $7 million and $8 million as of August 31, 2019 and 2018, respectively, for investment in joint ventures.

(2)	The substantial majority of Corporate and eliminations total assets consist of Corporate intercompany payables to the Company’s operating segments and intercompany eliminations.

(3)	Property, plant and equipment, net includes $14 million and $15 million as of August 31, 2019 and 2018, respectively, at the Company’s Canadian locations.

Reconciliation of Operating Income from Segments to Consolidated

The table below illustrates the Company’s results from continuing operations by reportable segment for the years ended August 31 (in thousands):

		2019			2018			2017
AMR:
Revenues	$	1,684,977		$	1,908,966		$	1,363,618
Less: Intersegment revenues		(11,612	)		(24,892	)		(15,647	)
AMR external customer revenues		1,673,365			1,884,074			1,347,971
CSS:
Revenues		459,416			480,641			339,620
Total revenues	$	2,132,781		$	2,364,715		$	1,687,591
Depreciation and amortization:
AMR	$	38,816		$	35,564		$	34,853
CSS		11,781			11,724			12,525
Segment depreciation and amortization		50,597			47,288			47,378
Corporate		2,739			2,384			2,462
Total depreciation and amortization	$	53,336		$	49,672		$	49,840
Capital expenditures:
AMR	$	78,706		$	67,099		$	34,575
CSS		15,345			9,600			10,224
Segment capital expenditures		94,051			76,699			44,799
Corporate		562			927			141
Total capital expenditures	$	94,613		$	77,626		$	44,940
Reconciliation of the Company’s segment operating income to income from continuing operations before income taxes:
AMR⁽¹⁾	$	95,991		$	169,120		$	91,405
CSS⁽²⁾		31,951			38,286			5,275
Segment operating income		127,942			207,406			96,680
Restructuring charges and other exit-related activities		(365	)		661			109
Corporate and eliminations		(43,712	)		(59,079	)		(40,776	)
Operating income		83,865			148,988			56,013
Interest expense		(8,266	)		(8,983	)		(8,081	)
Other income, net		641			1,848			758
Income from continuing operations before income taxes	$	76,240		$	141,853		$	48,690

(1)	AMR operating income includes less than $1 million, less than $(1) million, and $2 million in income (loss) from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

(2)	CSS operating income includes $1 million, $2 million, and $1 million in income from joint ventures accounted for by the equity method in fiscal 2019, 2018 and 2017, respectively.

Schedule of Revenues from External Customers By Major Product and Destination

The following revenues from external customers are presented by major product and based on the sales destination for the years ended August 31 (in thousands):

	2019		2018		2017
Major product information:
Ferrous revenues	$	1,164,719	$	1,328,447	$	855,161
Nonferrous revenues		468,023		529,466		425,989
Steel revenues⁽¹⁾		367,956		367,560		280,767
Retail and other revenues		132,083		139,242		125,674
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591
Revenues based on sales destination:
Foreign	$	1,141,077	$	1,354,460	$	894,265
Domestic		991,704		1,010,255		793,326
Total revenues	$	2,132,781	$	2,364,715	$	1,687,591

(1)	Steel revenues include primarily sales of finished steel products, semi-finished goods (billets) and manufacturing scrap.

(2)	In fiscal 2019, the Company modified its categories of revenues from external customers by major product. The major product revenues for fiscal 2018 and 2017 have been revised to conform to the current presentation, with such revisions being immaterial to each year.

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

The schedule below identifies those foreign countries to which the Company’s sales exceeded 10% of consolidated revenues in any of the last three years ended August 31 (in thousands):

2019

% of

Revenue

2018

% of

Revenue

2017

% of

Revenue

Turkey⁽¹⁾

N/A

262,835

N/A

China⁽¹⁾

N/A

255,097

216,231

(1)	^{N/A = Sales were less than the 10% threshold.}

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Aug. 31, 2019

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Information

	Fiscal 2019
	First		Second		Third		Fourth
Revenues	$	564,020	$	473,565	$	547,396	$	547,800
Cost of goods sold	$	490,132	$	414,688	$	474,598	$	479,117
Operating income	$	22,689	$	19,036	$	24,459	$	17,681
Income from continuing operations attributable to SSI shareholders	$	16,260	$	13,030	$	15,682	$	11,621
Basic income per share from continuing operations attributable to SSI shareholders	$	0.59	$	0.47	$	0.57	$	0.42
Diluted income per share from continuing operations attributable to SSI shareholders	$	0.57	$	0.46	$	0.56	$	0.41
Net income	$	16,618	$	13,297	$	16,440	$	11,967
Net income attributable to SSI shareholders	$	16,188	$	12,892	$	15,690	$	11,575
Basic net income per share attributable to SSI shareholders	$	0.59	$	0.47	$	0.57	$	0.42
Diluted net income per share attributable to SSI shareholders	$	0.57	$	0.46	$	0.56	$	0.41

	Fiscal 2018
	First		Second		Third		Fourth
Revenues	$	483,279	$	559,443	$	652,416	$	669,577
Cost of goods sold	$	406,251	$	472,462	$	549,164	$	582,608
Operating income	$	26,423	$	33,358	$	51,234	$	37,973
Income from continuing operations attributable to SSI shareholders	$	18,399	$	40,852	$	37,458	$	59,396
Basic income per share from continuing operations attributable to SSI shareholders	$	0.66	$	1.47	$	1.35	$	2.17
Diluted income per share from continuing operations attributable to SSI shareholders	$	0.64	$	1.42	$	1.31	$	2.08
Net income	$	19,221	$	41,919	$	38,448	$	60,201
Net income attributable to SSI shareholders	$	18,364	$	41,016	$	37,402	$	59,669
Basic net income per share attributable to SSI shareholders	$	0.66	$	1.48	$	1.35	$	2.18
Diluted net income per share attributable to SSI shareholders	$	0.64	$	1.42	$	1.31	$	2.09

Summary of Significant Accounting Policies - Revenue, Initial Application Period Cumulative Effect Transition (Details) - USD ($)	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017	Sep. 01, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 675,363,000				$ 639,684,000				$ 675,363,000	$ 639,684,000
Revenues	547,800,000	$ 547,396,000	$ 473,565,000	$ 564,020,000	669,577,000	$ 652,416,000	$ 559,443,000	$ 483,279,000	2,132,781,000	2,364,715,000	$ 1,687,591,000
Cost of goods sold	$ 479,117,000	$ 474,598,000	$ 414,688,000	$ 490,132,000	$ 582,608,000	$ 549,164,000	$ 472,462,000	$ 406,251,000	1,858,535,000	$ 2,010,485,000	$ 1,464,508,000
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings												$ 0
Revenues									$ (28,000,000)
Percentage of Total Revenue									1.00%
Cost of goods sold									$ (28,000,000)

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Aug. 31, 2019 USD ($) jointventureinterest shares	Aug. 31, 2018 USD ($) jointventureinterest	Aug. 31, 2017 USD ($) jointventureinterest	Aug. 31, 2015 Store
Significant Accounting Policies [Line Items]
Book Overdrafts	$ 27,000,000	$ 28,000,000
Allowance for Doubtful Accounts Receivable	2,000,000	3,000,000
Repayment of Advances with Scrap Metal	15,000,000	15,000,000	$ 12,000,000
Insurance receivable	$ 89,000,000	36,000,000
Investment, Original Cost			6,000,000
Number of Equity Method Investments \| jointventureinterest	2
Equity Method Investment, Ownership Percentage	50.00%
Cumulative Undistributed Earnings, Equity Method Joint Ventures	$ 8,000,000
Goodwill impairment charges	0	0	0
Advertising Expense	$ 6,000,000	6,000,000	6,000,000
Percentage likelihood of tax benefit being realized upon settlement with tax authority	50.00%
Cash, FDIC Insured Amount	$ 250,000
Customer Issued Letters Of Credit	$ 49,000,000	$ 58,000,000
Class A Common Stock
Significant Accounting Policies [Line Items]
Common Stock, Voting Rights	one
Number Of Shares Class B Common Stock Convertible To Class A Common Stock \| shares	1
Number of Shares of Class A Common Stock Reserved For Class B Common Stock \| shares	1
Class B Common Stock
Significant Accounting Policies [Line Items]
Common Stock, Voting Rights	one
Corporate Joint Venture
Significant Accounting Policies [Line Items]
Equity Method Investment, Gain on Disposition of Assets			6,000,000
Gain (Loss) on Disposition of Assets from Equity Method Investments			$ 3,000,000
AMR
Significant Accounting Policies [Line Items]
Number of Equity Method Investments \| jointventureinterest		2
Equity Method Investment, Ownership Percentage		50.00%
Number of Joint Venture Investments \| jointventureinterest	1
CSS
Significant Accounting Policies [Line Items]
Number of Equity Method Investments \| jointventureinterest			1
Equity Method Investment, Ownership Percentage			50.00%
Number of Joint Venture Investments \| jointventureinterest	1
Prepaid Expenses and Other Current Assets
Significant Accounting Policies [Line Items]
Prepaid Expense	$ 23,000,000	$ 22,000,000
Other Assets \| AMR
Significant Accounting Policies [Line Items]
Investment, Carrying Value	6,000,000	6,000,000
Other Accrued Liabilities
Significant Accounting Policies [Line Items]
Workers' Compensation Liability	8,000,000	8,000,000
Other Current Assets
Significant Accounting Policies [Line Items]
Workers' Compensation insurance receivables	$ 4,000,000	$ 4,000,000
Minimum
Significant Accounting Policies [Line Items]
Shipment Period	30 days
Maximum
Significant Accounting Policies [Line Items]
Shipment Period	60 days
Discontinued Operations \| Auto Parts Stores
Significant Accounting Policies [Line Items]
Number of Stores \| Store				6

Summary of Significant Accounting Policies -Schedule of Useful Lives Used for Depreciation and Amortization (Details)	12 Months Ended
	Aug. 31, 2019
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Land improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	35 years
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Office equipment and other software licenses \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office equipment and other software licenses \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Enterprise Resource Planning (“ERP”) systems \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	6 years
Enterprise Resource Planning (“ERP”) systems \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	17 years

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Inventory Net [Abstract]
Processed and unprocessed scrap metal	$ 81,313	$ 111,658
Semi-finished goods	8,712	15,551
Finished goods	53,796	39,809
Supplies	43,499	38,859
Inventories	$ 187,320	$ 205,877

Property, Plant and Equipment, net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,222,433	$ 1,147,272
Less accumulated depreciation	(766,033)	(731,561)
Property, plant and equipment, net	456,400	415,711
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	697,746	679,520
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	283,348	269,382
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	112,244	108,882
ERP systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,760	17,760
Office equipment and other software licenses
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	43,960	43,175
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 67,375	$ 28,553

Goodwill and Other Intangible Assets, Net - Additional Information (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Aug. 31, 2019 USD ($) reporting_unit	Feb. 28, 2019 USD ($)	Feb. 28, 2018 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2018 USD ($)	Aug. 31, 2017 USD ($)	Jul. 01, 2019 USD ($)
Goodwill [Line Items]
Goodwill	$ 169,237			$ 169,237	$ 168,065
Goodwill, impaired, accumulated impairment loss	471,000			471,000	471,000
Amortization of intangible assets				1,000	1,000	$ 1,000
Metal Recycling Business
Goodwill [Line Items]
Business combination, consideration transferred			$ 2,000
Goodwill, acquired during period			$ 1,000
Auto Recycling Business
Goodwill [Line Items]
Business combination, consideration transferred		$ 2,000
Goodwill, acquired during period		$ 2,000
AMR
Goodwill [Line Items]
Goodwill, acquired during period				1,575	1,118
Goodwill	$ 169,237			$ 169,237	$ 168,065	$ 167,835	$ 170,000
Number of reporting units \| reporting_unit	1
AMR \| Single Reporting Unit Carried Out [Member]
Goodwill [Line Items]
Goodwill							$ 1,000

Goodwill and Other Intangible Assets, Net - Schedule of Gross Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 168,065
Goodwill, end of period	169,237	$ 168,065
AMR
Goodwill [Roll Forward]
Goodwill, beginning of period	168,065	167,835
Goodwill, acquired during period	1,575	1,118
Foreign currency translation adjustment	(403)	(888)
Goodwill, end of period	$ 169,237	$ 168,065

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,598	$ 7,834
Accumulated Amortization	(3,116)	(3,476)
Intangibles, Net	4,482	4,358
Gross Carrying Amount, Indefinite-Lived	1,081	1,081
Covenants not to compete
Intangible Assets [Line Items]
Gross Carrying Amount	5,746	5,591
Accumulated Amortization	(2,862)	(2,596)
Intangibles, Net	2,884	2,995
Other intangible assets subject to amortization
Intangible Assets [Line Items]
Gross Carrying Amount	771	1,162
Accumulated Amortization	(254)	(880)
Intangibles, Net	$ 517	$ 282

Goodwill and Other Intangible Assets, Net - Schedule of Estimated Amortization Expenses (Details) $ in Thousands	Aug. 31, 2019 USD ($)
Estimated amortization expense
2020	$ 624
2021	389
2022	387
2023	332
2024	307
Thereafter	1,362
Total	$ 3,401

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Capital lease obligations due through July 2029	$ 7,774	$ 6,787
Other debt obligations	487	589
Total debt	105,096	107,376
Less current maturities	(1,321)	(1,139)
Long-term debt, net of current maturities	103,775	106,237
Line of Credit \| Secured Revolving Credit Facility \| Bank of America NA And Other Lenders
Debt Instrument [Line Items]
Bank revolving credit facilities, interest primarily at LIBOR plus a spread	$ 96,835	$ 100,000

Debt - Additional Information (Details)		12 Months Ended
Debt - Additional Information (Details)	Aug. 24, 2018 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2017 USD ($)	Aug. 31, 2018 USD ($)	Aug. 24, 2018 CAD ($)	Aug. 23, 2018 USD ($)	Aug. 23, 2018 CAD ($)	Aug. 31, 2016 USD ($)
Debt Instrument [Line Items]
Tax Exempt Economic Development Revenue Bond								$ 8,000,000
Repayments of Debt			$ 8,000,000
For Certain Obligations Workers Compensation And Performance Bonds
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 10,000,000		$ 10,000,000
Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 700,000,000				$ 15,000,000	$ 335,000,000	$ 15,000,000
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 3,000,000
Credit Facility, Term	5 years
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.15%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.45%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 1 \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.25%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 1 \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.75%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 2 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 2 \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.00%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 2 \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.50%
Line of Credit \| Senior Secured Revolving Credit Facility \| Bank of America NA And Other Lenders \| Amended Credit Agreement, Interest Rate Option 2 \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Line of Credit \| Secured Revolving Credit Facility \| Bank of America NA And Other Lenders
Debt Instrument [Line Items]
Bank revolving credit facilities, interest primarily at LIBOR plus a spread		$ 96,835,000		$ 100,000,000
Long-term Debt, Weighted Average Interest Rate, at Point in Time		3.78%		3.57%

Debt - Summary of Principal Payments on Long-term Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Long-term Debt, by Maturity [Abstract]
2020	$ 94
2021	47
2022	49
2023	96,887
2024	56
Thereafter	189
Total	97,322
Total less interest	97,322
Capital Leases, Future Minimum Payments, Net Minimum Payments [Abstract]
2020	1,917
2021	1,799
2022	1,751
2023	1,622
2024	1,346
Thereafter	1,694
Total	10,129
Amounts representing interest	(2,355)
Total less interest	7,774	$ 6,787
Long Term Debt and Capital Lease Obligations Due [Abstract]
2020	2,011
2021	1,846
2022	1,800
2023	98,509
2024	1,402
Thereafter	1,883
Total	107,451
Amounts representing interest	(2,355)
Total debt	$ 105,096	$ 107,376

Commitments and Contingencies - Future Minimum Obligations Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Operating Leases, Rent Expense	$ 27,000	$ 27,000	$ 25,000
Future minimum obligations under non-cancelable operating leases:
2020	21,286
2021	15,301
2022	12,488
2023	10,419
2024	5,035
Thereafter	16,095
Total	$ 80,624

Commitments and Contingencies - Schedule of Environmental Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning Balance	$ 53,832	$ 48,398
Liabilities Established (Released), Net	1,302	9,172
Payments and Other	(3,335)	(3,738)
Ending Balance	51,799	53,832
Short- Term	6,030	6,682
Long- Term	$ 45,769	$ 47,150

Commitments and Contingencies - Recycling Operations and Other Legacy (Details)	1 Months Ended		12 Months Ended
	Dec. 31, 2017 potentially_responsible_party	Jan. 31, 2017 USD ($)	Aug. 31, 2019 USD ($) Subarea	Aug. 31, 2018 USD ($)	Aug. 31, 2007 USD ($)	Aug. 31, 2017 USD ($)	Jan. 30, 2017 potentially_responsible_party party	Aug. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies			$ 51,799,000	$ 53,832,000		$ 48,398,000
Parties named in Litigation \| party							30
Liabilities Established			1,302,000	9,172,000
Insurance Receivable			89,000,000	36,000,000
Other Auto and Metals Recycling Business Sites
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies			52,000,000	54,000,000
Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies			$ 1,000,000	2,000,000
Number Of Potentially Responsible Parties Joining Allocation Process \| potentially_responsible_party							100
Number Of Other Potentially Responsible Parties Signing Settlement Agreement and Order on Consent \| potentially_responsible_party	3
Number of Years for Pre-Remedial Design	2 years
Liabilities Established				2,000,000
Insurance Receivable				2,000,000
Portland Harbor Superfund Site \| Minimum
Loss Contingencies [Line Items]
Site contingency proposed subareas for remedial design \| Subarea			8
Site contingency expected completion term for remedial design			3 years
Portland Harbor Superfund Site \| Maximum
Loss Contingencies [Line Items]
Site contingency proposed subareas for remedial design \| Subarea			10
Site contingency expected completion term for remedial design			4 years
Portland Harbor Superfund Site \| Lower Willamette Group
Loss Contingencies [Line Items]
Remedial Investigation and Feasibility Study Costs					$ 155,000,000
Number of Years for Remedial Investigation and Feasibility Study					18 years
Portland Harbor Superfund Site \| Potential Responsible Parties
Loss Contingencies [Line Items]
Estimated Cost of Selected Remedy Undiscounted		$ 1,700,000,000
Estimated Cost of Selected Remedy Discounted		$ 1,050,000,000.00
Estimated Cost of Selected Remedy, Discount Rate		7.00%
Site Contingency, Estimated Construction Time Frame		13 years
Portland Harbor Superfund Site \| Potential Responsible Parties \| Minimum
Loss Contingencies [Line Items]
Site Contingency, Least Costly Remediation Plan Discounted								$ 170,000,000
Estimated Cost of Selected Remedy, Range		(30.00%)
Portland Harbor Superfund Site \| Potential Responsible Parties \| Maximum
Loss Contingencies [Line Items]
Site Contingency, Most Costly Remediation Plan Discounted								$ 2,500,000,000
Estimated Cost of Selected Remedy, Range		50.00%
Legacy Environmental Site 1 - Remediation of Shredder Residue
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies			$ 4,000,000	4,000,000
Environmental remediation expense accrued in the period				4,000,000
Legacy Environmental Site 1 - Remediation of Shredder Residue \| Minimum
Loss Contingencies [Line Items]
Loss contingency, range of possible loss			0
Legacy Environmental Site 1 - Remediation of Shredder Residue \| Maximum
Loss Contingencies [Line Items]
Loss contingency, range of possible loss			28,000,000
Legacy Environmental Site 2 - Remediation of Soil and Groundwater Conditions
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies			$ 6,000,000	$ 6,000,000

Commitments and Contingencies - Other (Details) $ in Millions		2 Months Ended	12 Months Ended
	Oct. 24, 2019 USD ($) lawsuit	Oct. 24, 2019 USD ($)	Aug. 31, 2019 USD ($) lawsuit	Aug. 31, 2018 USD ($)
Loss Contingencies [Line Items]
Insurance Receivable			$ 89	$ 36
GEORGIA \| Wrongful Death Lawsuits
Loss Contingencies [Line Items]
Amount Awarded			$ 103
GEORGIA \| Wrongful Death Lawsuits \| Settled Litigation
Loss Contingencies [Line Items]
Claims Settled \| lawsuit			3
Amount Awarded			$ 35
GEORGIA \| Wrongful Death Lawsuits \| Pending Litigation
Loss Contingencies [Line Items]
Claims Filed \| lawsuit			5
Accrual loss contingencies amount			$ 83
Insurance Receivable				$ 30
Subsequent Event \| GEORGIA \| Wrongful Death Lawsuits \| Settled Litigation
Loss Contingencies [Line Items]
Claims Settled \| lawsuit	2
Amount Awarded	$ 68
Subsequent Event \| GEORGIA \| Wrongful Death Lawsuits \| Pending Litigation
Loss Contingencies [Line Items]
Accrual loss contingencies paid amount		$ 83

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	$ 670,110	$ 537,493	$ 501,432
Total other comprehensive (loss) income, net of tax	(1,526)	(1,944)	4,822
Ending balance	701,296	670,110	537,493
Foreign Currency Translation Adjustments
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(34,129)	(31,828)	(34,539)
Other comprehensive (loss) income before reclassifications	(1,560)	(2,301)	2,711
Income tax (benefit) expense	0	0	0
Other comprehensive (loss) income before reclassifications, net of tax	(1,560)	(2,301)	2,711
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Income tax benefit	0	0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	0	0
Total other comprehensive (loss) income, net of tax	(1,560)	(2,301)	2,711
Ending balance	(35,689)	(34,129)	(31,828)
Pension Obligations, net
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(3,108)	(3,465)	(5,576)
Other comprehensive (loss) income before reclassifications	(326)	64	1,477
Income tax (benefit) expense	65	172	(194)
Other comprehensive (loss) income before reclassifications, net of tax	(261)	236	1,283
Amounts reclassified from accumulated other comprehensive loss	369	536	851
Income tax benefit	(74)	(415)	(23)
Amounts reclassified from accumulated other comprehensive loss, net of tax	295	121	828
Total other comprehensive (loss) income, net of tax	34	357	2,111
Ending balance	(3,074)	(3,108)	(3,465)
Accumulated Other Comprehensive Loss
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(37,237)	(35,293)	(40,115)
Other comprehensive (loss) income before reclassifications	(1,886)	(2,237)	4,188
Income tax (benefit) expense	65	172	(194)
Other comprehensive (loss) income before reclassifications, net of tax	(1,821)	(2,065)	3,994
Amounts reclassified from accumulated other comprehensive loss	369	536	851
Income tax benefit	(74)	(415)	(23)
Amounts reclassified from accumulated other comprehensive loss, net of tax	295	121	828
Total other comprehensive (loss) income, net of tax	(1,526)	(1,944)	4,822
Ending balance	$ (38,763)	$ (37,237)	$ (35,293)

Revenue - Summary of Revenues Disaggregated by Major Product and Sales Destination for Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 547,800	$ 547,396	$ 473,565	$ 564,020	$ 669,577	$ 652,416	$ 559,443	$ 483,279	$ 2,132,781	$ 2,364,715	$ 1,687,591
AMR
Disaggregation of Revenue [Line Items]
Revenues									1,673,365	1,884,074	1,347,971
Ferrous Revenues
Disaggregation of Revenue [Line Items]
Revenues									1,164,719
Nonferrous Revenues
Disaggregation of Revenue [Line Items]
Revenues									468,023
Steel Revenues
Disaggregation of Revenue [Line Items]
Revenues									367,956	367,560	280,767
Retail and Other Revenues
Disaggregation of Revenue [Line Items]
Revenues									132,083
Operating Segments \| AMR
Disaggregation of Revenue [Line Items]
Revenues									1,684,977	1,908,966	1,363,618
Operating Segments \| CSS
Disaggregation of Revenue [Line Items]
Revenues									459,416	480,641	339,620
Operating Segments \| Ferrous Revenues \| AMR
Disaggregation of Revenue [Line Items]
Revenues									1,123,180
Operating Segments \| Ferrous Revenues \| CSS
Disaggregation of Revenue [Line Items]
Revenues									51,963
Operating Segments \| Nonferrous Revenues \| AMR
Disaggregation of Revenue [Line Items]
Revenues									430,361
Operating Segments \| Nonferrous Revenues \| CSS
Disaggregation of Revenue [Line Items]
Revenues									38,809
Operating Segments \| Steel Revenues \| AMR
Disaggregation of Revenue [Line Items]
Revenues									0
Operating Segments \| Steel Revenues \| CSS
Disaggregation of Revenue [Line Items]
Revenues									367,956
Operating Segments \| Retail and Other Revenues \| AMR
Disaggregation of Revenue [Line Items]
Revenues									131,436
Operating Segments \| Retail and Other Revenues \| CSS
Disaggregation of Revenue [Line Items]
Revenues									688
Intersegment Revenue Eliminations
Disaggregation of Revenue [Line Items]
Revenues									(11,612)
Intersegment Revenue Eliminations \| AMR
Disaggregation of Revenue [Line Items]
Revenues									(11,612)	$ (24,892)	$ (15,647)
Intersegment Revenue Eliminations \| Ferrous Revenues
Disaggregation of Revenue [Line Items]
Revenues									(10,424)
Intersegment Revenue Eliminations \| Nonferrous Revenues
Disaggregation of Revenue [Line Items]
Revenues									(1,147)
Intersegment Revenue Eliminations \| Steel Revenues
Disaggregation of Revenue [Line Items]
Revenues									0
Intersegment Revenue Eliminations \| Retail and Other Revenues
Disaggregation of Revenue [Line Items]
Revenues									(41)
Foreign
Disaggregation of Revenue [Line Items]
Revenues									1,141,077
Foreign \| Operating Segments \| AMR
Disaggregation of Revenue [Line Items]
Revenues									1,047,546
Foreign \| Operating Segments \| CSS
Disaggregation of Revenue [Line Items]
Revenues									93,531
Foreign \| Intersegment Revenue Eliminations
Disaggregation of Revenue [Line Items]
Revenues									0
Domestic
Disaggregation of Revenue [Line Items]
Revenues									991,704
Domestic \| Operating Segments \| AMR
Disaggregation of Revenue [Line Items]
Revenues									637,431
Domestic \| Operating Segments \| CSS
Disaggregation of Revenue [Line Items]
Revenues									365,885
Domestic \| Intersegment Revenue Eliminations
Disaggregation of Revenue [Line Items]
Revenues									$ (11,612)

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Revenue From Contract With Customer [Abstract]
Receivables from contracts with customers, net of allowance for doubtful accounts	$ 142	$ 164
Percentage of receivables from contracts with customers of accounts receivable	97.00%	97.00%
Contract liabilities	$ 3	$ 9
Customer deposits reclassified to revenue	$ 8

Employee Benefits - Defined Benefit Pension Plan and Supplemental Executive Retirement Benefit Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, amortization of gain (loss), percent threshold	5.00%
Defined benefit plan, benefit obligation	$ 17,000,000	$ 15,000,000
Defined benefit plan, funded (unfunded) status of plan	3,000,000	$ 2,000,000
Defined benefit plan, expected future employer contributions, next fiscal year	$ 0
Defined benefit plan, assumptions used calculating benefit obligation, discount rate	2.83%	4.01%
Supplemental Employee Retirement Plan, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, funded (unfunded) status of plan	$ (5,000,000)	$ (4,000,000)
Assets for plan benefits, defined benefit plan	4,000,000	4,000,000
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	20,000,000	$ 17,000,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, annual expected future benefit payments	1,000,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, annual expected future benefit payments	$ 4,000,000

Employee Benefits - Multiemployer Pension Plans - Additional Information (Details) $ in Millions	12 Months Ended
	Aug. 31, 2019 USD ($) Plan	Aug. 31, 2018 USD ($)	Aug. 31, 2017 USD ($)	Aug. 31, 2004	Oct. 01, 2029
Steelworkers Western Independent Shops Pension Plan
Multiemployer Plans [Line Items]
Multiemployer plan, expiration date	Mar. 31, 2022
Multiemployer plan, contributions by employer	$ 3	$ 3	$ 3
Internal revenue service extension period				7 years
Steelworkers Western Independent Shops Pension Plan \| Scenario, Forecast
Multiemployer Plans [Line Items]
Minimum valuation funded percentage					100.00%
Steelworkers Western Independent Shops Pension Plan \| Minimum
Multiemployer Plans [Line Items]
Multiemployer plan rehabilitation plan contributions as a percent of total contributions	5.00%	5.00%	5.00%
Multiemployer Plans, Pension
Multiemployer Plans [Line Items]
Number of multiemployer plans \| Plan	14
Multiemployer plan, contributions by employer	$ 6	$ 5	$ 4

Share-based Compensation - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Cost of Goods Sold or Selling, General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 17	$ 19	$ 11
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	12.2
Number of shares available for grant (in shares)	3.4

Share-based Compensation - Restricted Stock Units ("RSUs") - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense	$ 6	$ 7	$ 6
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	261,642	252,865	314,862
Vesting percentage per year	20.00%
Vesting term	5 years
Shares granted, fair value	$ 7	$ 7	$ 7
Weighted average grant date fair value, granted	$ 27.61	$ 26.60	$ 20.95
Total fair value of shares vested during period	$ 7	$ 8	$ 5
Compensation cost not yet recognized	$ 6
Compensation cost not yet recognized, period for recognition	2 years
Restricted Stock Units (RSUs) \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares entitled to be received upon vesting	1

Share-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Number of Shares:
Outstanding, Beginning Balance (in shares)	812,000
Granted (in shares)	261,642	252,865	314,862
Vested (in shares)	(257,000)
Forfeited (in shares)	(19,000)
Outstanding, Ending Balance (in shares)	798,000	812,000
Weighted Average Grant Date Fair Value:
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance	$ 22.59
Granted, Weighted Average Grant Date Fair Value	27.61	$ 26.60	$ 20.95
Vested, Weighted Average Grant Date Fair Value	22.75
Forfeited, Weighted Average Grant Date Fair Value	24.23
Nonvested, Weighted Average Grant Date Fair Value, Ending Balance	$ 24.14	$ 22.59

Share-based Compensation - Performance Share Awards - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2019 USD ($) company $ / shares shares	Aug. 31, 2018 USD ($) $ / shares shares	Aug. 31, 2017 USD ($) Occasion $ / shares shares
Performance Shares (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award requisite service period	3 years	3 years	3 years
Number of occasion of shares were granted \| Occasion			2
Shares granted (in shares)	254,620	246,161	302,257
Weighted average grant date fair value, granted \| $ / shares	$ 28.37	$ 27.32	$ 21.52
Share vested \| $	$ 13		$ 4
Shares vested (in shares)	500,000	0
Compensation cost not yet recognized \| $	$ 8
Compensation cost not yet recognized, period for recognition	2 years
Performance Shares (PSUs) \| Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shareholder return designated peer group \| company	16
Performance Shares (PSUs) \| Requisite Service Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award requisite service period			3 years
Performance Shares (PSUs) \| Requisite Service Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award requisite service period			2 years 6 months
Performance Shares (PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based awards award payouts threshold	50.00%
Performance Shares (PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based awards award payouts threshold	200.00%
Total Shareholder Return (TSR)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $	$ 4	$ 3	$ 2
Shares granted (in shares)	123,812	119,763	146,768
Return on Capital Employed (ROCE) and Cash Flow Return on Investment Awards (CFROI)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $	$ 6	$ 8	$ 2
Return on Capital Employed Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	130,808	126,398
Cash Flow Return on Investment Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)			155,489

Share-based Compensation - Summary of Fair Value using Monte-Carlo Simulation Model Utilizing Several Key Assumptions (Details) - Total Shareholder Return (TSR)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected share price volatility	42.50%	44.30%
Risk-free rate of return	2.89%	1.79%
Expected share price volatility, minimum			40.90%
Expected share price volatility, maximum			43.30%
Risk-free rate of return, minimum			1.11%
Risk-free rate of return, maximum			1.31%
Peer Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected share price volatility	51.40%	55.40%
Expected correlation	35.60%	35.40%
Expected share price volatility, minimum			52.30%
Expected share price volatility, maximum			55.10%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected correlation			36.20%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected correlation			36.50%

Share-based Compensation - Summary of Performance-based Awards Activity (Details) - Performance Shares (PSUs) - $ / shares	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Number of Shares:
Outstanding, Beginning Balance (in shares)	880,000
Granted (in shares)	254,620	246,161	302,257
Performance achievement (in shares)	170,000
Vested (in shares)	(500,000)	0
Forfeited (in shares)	(32,000)
Outstanding, Ending Balance (in shares)	773,000	880,000
Weighted Average Grant Date Fair Value:
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance	$ 22.09
Granted, Weighted Average Grant Date Fair Value	28.37	$ 27.32	$ 21.52
Performance achievement, Weighted Average Grant Date Fair Value	18.54
Vested, Weighted Average Grant Date Fair Value	18.78
Forfeited, Weighted Average Grant Date Fair Value	22.75
Nonvested, Weighted Average Grant Date Fair Value, Ending Balance	$ 25.49	$ 22.09

Income Taxes - Summary of Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Income from continuing operations before income taxes [Abstract]
United States	$ 69,476	$ 131,518	$ 43,871
Foreign	6,764	10,335	4,819
Income from continuing operations before income taxes	$ 76,240	$ 141,853	$ 48,690

Income Taxes - Summary of Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Current:
Federal	$ 2,690	$ 19,511	$ (1,130)
State	315	894	190
Foreign	52		(16)
Total current tax expense (benefit)	3,057	20,405	(956)
Deferred:
Federal	12,930	(5,700)	2,046
State	794	(1,962)	232
Foreign	889	(30,333)
Total deferred tax expense (benefit)	14,613	(37,995)	2,278
Total income tax expense (benefit)	$ 17,670	$ (17,590)	$ 1,322

Income Taxes - Summary of Difference Between the Federal Statutory Rate and the Company's Effective Tax Rate (Details)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Reconciliation of the difference between the federal statutory rate and the Company's effective tax rate [Abstract]
Federal statutory rate	21.00%	25.70%	35.00%
State taxes, net of credits	1.20%	0.40%	1.80%
Foreign income taxed at different rates	(0.20%)	(0.50%)	(1.90%)
Valuation allowance on deferred tax assets	(0.20%)	(35.80%)	(31.20%)
Federal rate change		(4.90%)
Non-deductible officers’ compensation	1.80%	1.60%	2.20%
Noncontrolling interests	(0.50%)	(0.60%)	(1.80%)
Research and development credits	(0.50%)	(0.60%)	(1.50%)
Tax return to provision adjustment	0.50%
Unrecognized tax benefits	0.70%	3.40%	1.30%
Realized foreign investment basis	(0.40%)	(0.20%)	(0.90%)
Excess tax benefit from stock-based compensation	(1.20%)	(0.30%)
Other	1.00%	(0.60%)	(0.30%)
Effective tax rate	23.20%	(12.40%)	2.70%

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2018	Feb. 28, 2018	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Income Taxes [Line Items]
Federal statutory rate			21.00%	25.70%	35.00%
Tax cut and jobs act of 2017 discrete income tax expense (benefit)		$ (7)		$ (37)
Effective tax rate			23.20%	(12.40%)	2.70%
Valuation allowance, deferred tax asset, increase (decrease), amount	$ (30)	$ (7)		$ (37)
Foreign Country
Income Taxes [Line Items]
Operating loss carryforwards			$ 16
Minimum
Income Taxes [Line Items]
Operating loss carryforwards expirations period			2019
Income tax examination, year under examination			2013
Minimum \| Foreign Country
Income Taxes [Line Items]
Operating loss carryforwards expirations period			2024
Maximum
Income Taxes [Line Items]
Operating loss carryforwards expirations period			2032
Income tax examination, year under examination			2018
Maximum \| Foreign Country
Income Taxes [Line Items]
Operating loss carryforwards expirations period			2039

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Deferred tax assets:
Amortizable goodwill and other intangibles	$ 22,646	$ 27,433
State credit carryforwards	8,202	8,243
Environmental liabilities	7,164	7,853
Net operating loss carryforwards	7,122	7,206
Employee benefit accruals	6,289	10,677
Inventory valuation methods	1,748	944
Other	6,405	6,320
Valuation allowances	(16,436)	(16,484)
Total deferred tax assets	43,140	52,192
Deferred tax liabilities:
Accelerated depreciation and other basis differences	37,493	31,622
Prepaid expense acceleration	2,263	1,979
Total deferred tax liabilities	39,756	33,601
Net deferred tax asset	$ 3,384	$ 18,591

Income Taxes - Summary of Reserve for Unrecognized Tax Benefits, Excluding Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, as of the beginning of the year	$ 5,054	$ 5,548	$ 4,724
Additions for tax positions of prior years		171
Reductions for tax positions of prior years	(151)		(120)
Additions for tax positions of the current year	507	596	944
Reduction attributable to federal tax reform	0	(1,261)	0
Unrecognized tax benefits, as of the end of the year	$ 5,410	$ 5,054	$ 5,548

Net Income Per Share - Schedule of Basic and Diluted Net Income Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Earnings Per Share [Abstract]
Income from continuing operations									$ 58,570	$ 159,443	$ 47,368
Net income attributable to noncontrolling interests									(1,977)	(3,338)	(2,467)
Income from continuing operations attributable to SSI shareholders	$ 11,621	$ 15,682	$ 13,030	$ 16,260	$ 59,396	$ 37,458	$ 40,852	$ 18,399	56,593	156,105	44,901
(Loss) income from discontinued operations, net of tax									(248)	346	(390)
Net income attributable to SSI shareholders	$ 11,575	$ 15,690	$ 12,892	$ 16,188	$ 59,669	$ 37,402	$ 41,016	$ 18,364	$ 56,345	$ 156,451	$ 44,511
Computation of shares:
Weighted average common shares outstanding, basic									27,527	27,645	27,537
Incremental common shares attributable to dilutive performance share, RSU and DSU awards									695	944	604
Weighted average common shares outstanding, diluted									28,222	28,589	28,141

Segment Information - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Aug. 31, 2018 USD ($) jointventureinterest	Aug. 31, 2018 jointventureinterest	Aug. 31, 2017 jointventureinterest	Aug. 31, 2019 jointventureinterest
Segment Reporting Information [Line Items]
Number of Equity Method Investments				2
Equity Method Investment, Ownership Percentage				50.00%
Corporate
Segment Reporting Information [Line Items]
Environmental remediation expense \| $	$ 1
AMR
Segment Reporting Information [Line Items]
Number of Equity Method Investments	2	2
Equity Method Investment, Ownership Percentage	50.00%	50.00%
Number of Joint Venture Investments				1
Number of equity method investments, divested in the period		2
CSS
Segment Reporting Information [Line Items]
Number of Equity Method Investments			1
Equity Method Investment, Ownership Percentage			50.00%
Number of Joint Venture Investments				1
Number of equity method investments, divested in the period			1

Segment Information - Summary of Total Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 1,160,746	$ 1,104,817
Property, plant and equipment, net	456,400	415,711
Operating Segments
Segment Reporting Information [Line Items]
Total assets	2,331,197	2,226,593
Operating Segments \| Auto and Metals Recycling
Segment Reporting Information [Line Items]
Total assets	1,561,267	1,485,626
Operating Segments \| Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Total assets	769,930	740,967
Corporate and eliminations
Segment Reporting Information [Line Items]
Total assets	$ (1,170,451)	$ (1,121,776)

Segment Information - Summary of Total Assets (Parenthetical) (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Segment Reporting Information [Line Items]
Investments in joint ventures	$ 10,276	$ 11,532
Property, plant and equipment, net	456,400	415,711
CANADA
Segment Reporting Information [Line Items]
Property, plant and equipment, net	14,000	15,000
AMR
Segment Reporting Information [Line Items]
Investments in joint ventures	3,000	4,000
CSS
Segment Reporting Information [Line Items]
Investments in joint ventures	$ 7,000	$ 8,000

Segment Information - Reconciliation of Operating Income from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 547,800	$ 547,396	$ 473,565	$ 564,020	$ 669,577	$ 652,416	$ 559,443	$ 483,279	$ 2,132,781	$ 2,364,715	$ 1,687,591
Depreciation and amortization									53,336	49,672	49,840
Capital expenditures									94,613	77,626	44,940
Operating income	$ 17,681	$ 24,459	$ 19,036	$ 22,689	$ 37,973	$ 51,234	$ 33,358	$ 26,423	83,865	148,988	56,013
Restructuring charges and other exit-related activities									365	(661)	(109)
Interest expense									(8,266)	(8,983)	(8,081)
Other income, net									641	1,848	758
Income from continuing operations before income taxes									76,240	141,853	48,690
AMR
Segment Reporting Information [Line Items]
Revenues									1,673,365	1,884,074	1,347,971
Operating Segments \| AMR
Segment Reporting Information [Line Items]
Revenues									1,684,977	1,908,966	1,363,618
Operating Segments \| CSS
Segment Reporting Information [Line Items]
Revenues									459,416	480,641	339,620
Less: Intersegment revenues
Segment Reporting Information [Line Items]
Revenues									(11,612)
Less: Intersegment revenues \| AMR
Segment Reporting Information [Line Items]
Revenues									(11,612)	(24,892)	(15,647)
Continuing Operations
Segment Reporting Information [Line Items]
Depreciation and amortization									53,336	49,672	49,840
Capital expenditures									94,613	77,626	44,940
Operating income									83,865	148,988	56,013
Restructuring charges and other exit-related activities									(365)	661	109
Interest expense									(8,266)	(8,983)	(8,081)
Other income, net									641	1,848	758
Income from continuing operations before income taxes									76,240	141,853	48,690
Continuing Operations \| AMR
Segment Reporting Information [Line Items]
Operating income									95,991	169,120	91,405
Continuing Operations \| CSS
Segment Reporting Information [Line Items]
Operating income									31,951	38,286	5,275
Continuing Operations \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									50,597	47,288	47,378
Capital expenditures									94,051	76,699	44,799
Operating income									127,942	207,406	96,680
Continuing Operations \| Operating Segments \| AMR
Segment Reporting Information [Line Items]
Depreciation and amortization									38,816	35,564	34,853
Capital expenditures									78,706	67,099	34,575
Continuing Operations \| Operating Segments \| CSS
Segment Reporting Information [Line Items]
Depreciation and amortization									11,781	11,724	12,525
Capital expenditures									15,345	9,600	10,224
Continuing Operations \| Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization									2,739	2,384	2,462
Capital expenditures									562	927	141
Continuing Operations \| Corporate and eliminations
Segment Reporting Information [Line Items]
Operating income									$ (43,712)	$ (59,079)	$ (40,776)

Segment Information - Reconciliation of Operating Income from Segments to Consolidated (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Income (loss) from joint ventures	$ 1,452	$ 1,953	$ 3,674
Asset impairment charges (recoveries), net	63	(1,021)	(717)
AMR
Segment Reporting Information [Line Items]
Income (loss) from joint ventures			2,000
AMR \| Maximum
Segment Reporting Information [Line Items]
Income (loss) from joint ventures	1,000	(1,000)
CSS
Segment Reporting Information [Line Items]
Income (loss) from joint ventures	$ 1,000	$ 2,000	$ 1,000

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details

Segment Information - Schedule of Revenues from External Customers By Major Product and Destination (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 547,800	$ 547,396	$ 473,565	$ 564,020	$ 669,577	$ 652,416	$ 559,443	$ 483,279	$ 2,132,781	$ 2,364,715	$ 1,687,591
Ferrous revenues
Segment Reporting Information [Line Items]
Revenues									1,164,719	1,328,447	855,161
Nonferrous revenues
Segment Reporting Information [Line Items]
Revenues									468,023	529,466	425,989
Steel Revenues
Segment Reporting Information [Line Items]
Revenues									367,956	367,560	280,767
Retail and other revenues
Segment Reporting Information [Line Items]
Revenues									132,083	139,242	125,674
Foreign
Segment Reporting Information [Line Items]
Revenues									1,141,077	1,354,460	894,265
Domestic
Segment Reporting Information [Line Items]
Revenues									$ 991,704	$ 1,010,255	$ 793,326

Segment Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 547,800	$ 547,396	$ 473,565	$ 564,020	$ 669,577	$ 652,416	$ 559,443	$ 483,279	$ 2,132,781	$ 2,364,715	$ 1,687,591
Turkey
Segment Reporting Information [Line Items]
Revenues									$ 0	$ 262,835	$ 0
Turkey \| Sales \| Customer Concentration Risk
Segment Reporting Information [Line Items]
% of Revenue									0.00%	11.00%	0.00%
China
Segment Reporting Information [Line Items]
Revenues									$ 0	$ 255,097	$ 216,231
China \| Sales \| Customer Concentration Risk
Segment Reporting Information [Line Items]
% of Revenue									0.00%	11.00%	13.00%

Quarterly Financial Data (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Aug. 31, 2019

May 31, 2019

Feb. 28, 2019

Nov. 30, 2018

Aug. 31, 2018

May 31, 2018

Feb. 28, 2018

Nov. 30, 2017

Aug. 31, 2019

Aug. 31, 2018

Aug. 31, 2017

Quarterly Financial Data [Abstract]

Revenues

$ 547,800

$ 547,396

$ 473,565

$ 564,020

$ 669,577

$ 652,416

$ 559,443

$ 483,279

$ 2,132,781

$ 2,364,715

$ 1,687,591

Cost of goods sold

479,117

474,598

414,688

490,132

582,608

549,164

472,462

406,251

1,858,535

2,010,485

1,464,508

Operating income

17,681

24,459

19,036

22,689

37,973

51,234

33,358

26,423

83,865

148,988

56,013

Income from continuing operations attributable to SSI shareholders

$ 11,621

$ 15,682

$ 13,030

$ 16,260

$ 59,396

$ 37,458

$ 40,852

$ 18,399

$ 56,593

$ 156,105

$ 44,901

Basic income per share from continuing operations attributable to SSI shareholders

$ 0.42

$ 0.57

$ 0.47

$ 0.59

$ 2.17

$ 1.35

$ 1.47

$ 0.66

$ 2.06

$ 5.65

$ 1.63

Diluted income per share from continuing operations attributable to SSI shareholders

$ 0.41

$ 0.56

$ 0.46

$ 0.57

$ 2.08

$ 1.31

$ 1.42

$ 0.64

$ 2.01

$ 5.46

$ 1.60

Net income

$ 11,967

$ 16,440

$ 13,297

$ 16,618

$ 60,201

$ 38,448

$ 41,919

$ 19,221

$ 58,322

$ 159,789

$ 46,978

Net income attributable to SSI shareholders

$ 11,575

$ 15,690

$ 12,892

$ 16,188

$ 59,669

$ 37,402

$ 41,016

$ 18,364

$ 56,345

$ 156,451

$ 44,511

Basic net income per share attributable to SSI shareholders

$ 0.42

$ 0.57

$ 0.47

$ 0.59

$ 2.18

$ 1.35

$ 1.48

$ 0.66

$ 2.05

$ 5.66

$ 1.62

Diluted net income per share attributable to SSI shareholders

$ 0.41

$ 0.56

$ 0.46

$ 0.57

$ 2.09

$ 1.31

$ 1.42

$ 0.64

$ 2.00

^[1]

$ 5.47

^[1]

$ 1.58

^[1]

[1]	May not foot due to rounding.

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Allowance for doubtful accounts
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 2,586	$ 2,280	$ 2,315
Charges to Cost and Expenses	74	323	126
Deductions	(1,091)	(17)	(161)
Balance at End of Period	1,569	2,586	2,280
Deferred tax valuation allowance
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	16,484	67,348	83,891
Charges to Cost and Expenses	472	0	690
Deductions	(520)	(50,864)	(17,233)
Balance at End of Period	$ 16,436	$ 16,484	$ 67,348

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 0.75	$ 0.75	$ 0.75

Nature of Operations - Additional Information (Details)	12 Months Ended
Nature of Operations - Additional Information (Details)	Aug. 31, 2019 segment
Nature Of Operations [Abstract]
Number of operating segments	2
Number of reportable segments	2

Recent Accounting Pronouncements - Additional Information (Details) - Accounting Standards Update 2016-02 - Subsequent Event $ in Millions	Sep. 01, 2019 USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 126
Operating lease liabilities	$ 128

Commitments and Contingencies - Steel Manufacturing Operations (Details) T in Thousands	12 Months Ended
	Aug. 31, 2019 USD ($) T	Aug. 31, 2018 USD ($)	Aug. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 51,799,000	$ 53,832,000	$ 48,398,000
Steel Manufacturing Operations
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 0	$ 0
Permitted Annual Production Capacity \| T	950
Permit, Renewal Period	5 years