Document and Entity Information Document - shares	6 Months Ended
Document and Entity Information Document - shares	Feb. 28, 2018	Apr. 03, 2018
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Entity Registrant Name	SCHNITZER STEEL INDUSTRIES INC
Entity Central Index Key	0000912603
Current Fiscal Year End Date	--08-31
Entity Filer Category	Accelerated Filer
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		26,906,345
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Current assets:
Cash and cash equivalents	$ 15,007	$ 7,287
Accounts receivable, net of allowance for doubtful accounts of $2,295 and $2,280	194,338	138,998
Inventories	221,945	166,942
Refundable income taxes	1,795	2,366
Prepaid expenses and other current assets	26,977	22,357
Total current assets	460,062	337,950
Property, plant and equipment, net of accumulated depreciation of $722,576 and $756,494	386,680	390,629
Investments in joint ventures	11,454	11,204
Goodwill	168,384	167,835
Intangibles, net of accumulated amortization of $3,459 and $3,913	4,669	4,424
Other assets	20,448	21,713
Total assets	1,051,697	933,755
Current liabilities:
Short-term borrowings	793	721
Accounts payable	106,588	94,674
Accrued payroll and related liabilities	33,051	41,593
Environmental liabilities	6,537	2,007
Accrued income taxes	1,130	9
Other accrued liabilities	42,220	37,256
Total current liabilities	190,319	176,260
Deferred income taxes	4,722	19,147
Long-term debt, net of current maturities	210,031	144,403
Environmental liabilities, net of current portion	47,915	46,391
Other long-term liabilities	11,614	10,061
Total liabilities	464,601	396,262
Commitments and contingencies (Note 5)
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	39,609	38,050
Retained earnings	552,977	503,770
Accumulated other comprehensive loss	(37,029)	(35,293)
Total SSI shareholders' equity	582,663	533,586
Noncontrolling interests	4,433	3,907
Total equity	587,096	537,493
Total liabilities and equity	1,051,697	933,755
Class A Common Stock
Schnitzer Steel Industries, Inc. (SSI) shareholders' equity:
Common stock, value	26,906	26,859
Class B Common Stock
Schnitzer Steel Industries, Inc. (SSI) shareholders' equity:
Common stock, value	$ 200	$ 200

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 2,295	$ 2,280
Property, plant and equipment, accumulated depreciation	722,576	756,494
Intangibles, accumulated amortization	$ 3,459	$ 3,913
Schnitzer Steel Industries, Inc. (SSI) shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Class A Common Stock
Schnitzer Steel Industries, Inc. (SSI) shareholders' equity:
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	26,906,000	26,859,000
Common stock, shares outstanding	26,906,000	26,859,000
Class B Common Stock
Schnitzer Steel Industries, Inc. (SSI) shareholders' equity:
Common stock, par value (in dollars per share)	$ 1	$ 1
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

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

3 Months Ended

6 Months Ended

Feb. 28, 2018

Feb. 28, 2017

Feb. 28, 2018

Feb. 28, 2017

Income Statement [Abstract]

Revenues

$ 559,443

$ 382,084

$ 1,042,722

$ 716,245

Operating expense:

Cost of goods sold

472,462

326,804

878,713

622,696

Selling, general and administrative

53,638

43,823

104,681

81,315

(Income) from joint ventures

(106)

(2,220)

(556)

(2,632)

Other asset impairment charges (recoveries), net

(88)

401

Restructuring charges and other exit-related activities

(494)

191

(293)

Operating income

33,358

14,171

59,781

14,758

Interest expense

(2,281)

(2,097)

(4,340)

(3,838)

Other income, net

101

357

950

794

Income from continuing operations before income taxes

31,178

12,431

56,391

11,714

Income tax (expense) benefit

10,577

(637)

4,620

(575)

Income from continuing operations

41,755

11,794

61,011

11,139

Income (loss) from discontinued operations, net of tax

164

(95)

129

(148)

Net income

41,919

11,699

61,140

10,991

Net income attributable to noncontrolling interests

(903)

(662)

(1,760)

(1,280)

Net income attributable to SSI

$ 41,016

$ 11,037

$ 59,380

$ 9,711

Net income (loss) per share attributable to SSI Basic:

Income per share from continuing operations attributable to SSI

$ 1.47

$ 0.40

$ 2.14

$ 0.36

Income (loss) per share from discontinued operations attributable to SSI

0.01

0.00

(0.01)

Net income per share attributable to SSI

1.48

0.40

2.14

0.35

Net income (loss) per share attributable to SSI Diluted:

Income per share from continuing operations attributable to SSI

1.42

0.40

2.06

0.35

Income (loss) per share from discontinued operations attributable to SSI

0.01

0.00

(0.01)

Net income per share attributable to SSI

^[1]

$ 1.42

$ 0.40

$ 2.07

$ 0.35

Weighted average number of common shares:

Basic

27,797

27,524

27,745

27,447

Diluted

28,805

27,864

28,737

27,814

Dividends declared per common share

$ 0.1875

$ 0.375

[1]	May not foot due to rounding.

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 41,919	$ 11,699	$ 61,140	$ 10,991
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	117	240	(1,592)	(794)
Pension obligations, net	(226)	80	(144)	15
Total other comprehensive income (loss), net of tax	(109)	320	(1,736)	(779)
Comprehensive income	41,810	12,019	59,404	10,212
Less comprehensive income attributable to noncontrolling interests	(903)	(662)	(1,760)	(1,280)
Comprehensive income attributable to SSI	$ 40,907	$ 11,357	$ 57,644	$ 8,932

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Cash flows from operating activities:
Net income	$ 61,140	$ 10,991
Adjustments to reconcile net income to cash provided by (used in) operating activities
Depreciation and amortization	24,682	25,141
Other asset impairment charges (recoveries), net	(88)	401
Exit-related (gains), asset impairments and accelerated depreciation, net	0	(404)
Inventory write-down	38	0
Share-based compensation expense	8,095	5,570
Deferred income taxes	(14,014)	529
Undistributed equity in earnings of joint ventures	(556)	(2,632)
Loss on disposal of assets, net	252	74
Unrealized foreign exchange gain, net	(297)	(55)
Bad debt expense, net	15	56
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(62,049)	(24,506)
Inventories	(49,432)	(30,423)
Income taxes	1,692	(188)
Prepaid expenses and other current assets	2,947	4,407
Other long-term assets	(82)	18
Accounts payable	15,186	17,058
Accrued payroll and related liabilities	(8,507)	(2,122)
Other accrued liabilities	4,534	(1,021)
Environmental liabilities	3,620	1,274
Other long-term liabilities	1,673	(875)
Distributed equity in earnings of joint ventures	520	2,939
Net cash provided by (used in) operating activities	(10,631)	6,232
Cash flows from investing activities:
Capital expenditures	(26,762)	(21,542)
Purchase of cost method investment	0	(6,017)
Acquisition	(2,300)	0
Joint venture receipts, net	3	273
Proceeds from sale of assets	1,639	1,577
Net cash used in investing activities	(27,420)	(25,709)
Cash flows from financing activities:
Borrowings from long-term debt	314,483	245,633
Repayment of long-term debt	(249,916)	(228,673)
Payment of debt issuance costs	0	(109)
Repurchase of Class A common stock	(3,601)	0
Taxes paid related to net share settlement of share-based payment awards	(2,888)	(3,301)
Distributions to noncontrolling interests	(817)	(852)
Purchase of noncontrolling interest	(600)	0
Dividends paid	(10,633)	(10,122)
Net cash provided by financing activities	46,028	2,576
Effect of exchange rate changes on cash	(257)	(88)
Net increase (decrease) in cash and cash equivalents	7,720	(16,989)
Cash and cash equivalents as of beginning of period	7,287	26,819
Cash and cash equivalents as of end of period	$ 15,007	$ 9,830

Summary of Significant Accounting Policies

6 Months Ended

Feb. 28, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying Unaudited Condensed Consolidated Financial Statements of Schnitzer Steel Industries, Inc. (the "Company") have been prepared pursuant to generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the "SEC") for Form 10-Q, including Article 10 of Regulation S-X. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC. In the opinion of management, all normal, recurring adjustments considered necessary for a fair statement have been included. Management suggests that these Unaudited Condensed Consolidated Financial Statements be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2017. The results for the three and six months ended February 28, 2018 and 2017 are not necessarily indicative of the results of operations for the entire fiscal year.

Accounting Changes

In July 2015, an accounting standards update was issued that requires an entity to measure certain types of inventory, including inventory that is measured using the first-in, first out ("FIFO") or average cost method, at the lower of cost and net realizable value. The accounting standard in effect at the time of issuance of the update required an entity to measure inventory at the lower of cost or market, whereby market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using the last-in, first-out ("LIFO") or retail inventory method. The Company adopted the new requirement, which is to be applied prospectively, as of the beginning of the first quarter of fiscal 2018 with no impact to the Unaudited Condensed Consolidated Financial Statements.

In March 2016, an accounting standards update was issued that amends several aspects of the accounting for share-based payments, including accounting for income taxes, forfeitures and statutory tax withholding requirements, and classification within the statement of cash flows. The Company adopted the new requirements as of the beginning of the first quarter of fiscal 2018 with no impact to the Unaudited Condensed Consolidated Financial Statements, including no cumulative-effect adjustments to retained earnings, as of the date of adoption. On a prospective basis beginning with the date of adoption, the Company records all of the tax effects related to share-based payments through the income statement, subject to normal valuation allowance considerations, and all tax-related cash flows resulting from share-based payments are reported as operating activities in the statement of cash flows. Cash payments to taxing authorities made on behalf of Company employees for withheld shares are reported as financing activities in the statement of cash flows, consistent with the Company's practice prior to adopting the new requirements. The Company has elected to continue the practice of estimating the forfeiture rate for the purpose of recognizing estimated compensation cost over the requisite service period.

In February 2018, an accounting standards update was issued that allows 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. Stranded tax effects result from adjusting deferred tax liabilities and assets for the effect of a change in tax laws or rates to income from continuing operations, as required under existing accounting guidance, even in situations in which the adjustments relate to income tax effects reported within AOCI. If an entity elects to reclassify the stranded tax effects of the Tax Act, the amount of that reclassification shall include the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of enactment of the Tax Act related to items remaining in AOCI, and other income tax effects of the Tax Act on items remaining in AOCI that an entity elects to reclassify. The Company early-adopted the foregoing accounting standard update in the second quarter and has elected to reclassify to retained earnings the effect of the change in the U.S. federal corporate income tax rate on items remaining in AOCI at the date of enactment of the Tax Act. The resulting aggregate reclassification from AOCI to retained earnings recorded in the second quarter of fiscal 2018 was $1 million. See Note 7 - Changes in Equity and Note 8 - Accumulated Other Comprehensive Loss for further detail.

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 $20 million and $21 million as of February 28, 2018 and August 31, 2017, respectively.

Investments in Joint Ventures

During the second quarter of 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 Unaudited Condensed Consolidated Statements of Income for the three and six months ended February 28, 2017. Based on the Company's equity in the earnings of the joint venture for the six months ended February 28, 2017, the joint venture qualified as a significant unconsolidated subsidiary within the criteria of Regulation S-X, thereby requiring separate summarized income statement information for the joint venture for the applicable periods presented. The joint venture's principal business activity is real estate holdings and the foregoing real estate sale was its only significant transaction during the periods presented for fiscal 2017. For the three and six months ended February 28, 2017, the joint venture had substantially no revenues or gross profit, and it had net income of $6 million, $3 million of which was attributable to the Company's investment. The joint venture had substantially no activity during the three and six months ended February 28, 2018.

Cost Method Investment

In the second quarter of fiscal 2017, the Company invested $6 million in a privately-held waste and recycling entity. The Company's influence over the operating and financial policies of the entity is not significant and, thus, the investment is accounted for under the cost method. Under the cost method, the investment is carried at cost and adjusted only for other-than-temporary impairments, certain distributions and additional investments. The investment is presented as part of the Auto and Metals Recycling ("AMR") reportable segment and reported within other assets in the Unaudited Condensed Consolidated Balance Sheets. The Company does not hold any other cost-method investments. The carrying value of the investment was $6 million as of February 28, 2018 and August 31, 2017. As of February 28, 2018, the Company had not identified any events or changes in circumstances that may have a significant adverse effect on the fair value of the investment or indicators of other-than-temporary impairment.

Long-Lived Assets

Changes in circumstances may merit a change in the estimated useful lives or salvage values of individual long-lived 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. During the six months ended February 28, 2018 and 2017, the Company recognized accelerated depreciation of $1 million and less than $1 million, respectively, due to shortening the useful lives of decommissioned machinery and equipment assets in the Cascade Steel and Scrap ("CSS") reportable segment, which are reported within other asset impairment charges (recoveries), net in the Unaudited Condensed Consolidated Statements of Income.

Also during the six months ended February 28, 2018, CSS sold previously impaired assets consisting primarily of machinery and equipment, recognizing a gain of $1 million, which is reported within other asset impairment charges (recoveries), net in the Unaudited Condensed Consolidated Statements of Income.

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 from suppliers. 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 $250,000 as of February 28, 2018. 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, limits, 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 $84 million and $48 million of open letters of credit as of February 28, 2018 and August 31, 2017, respectively.

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.

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Feb. 28, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, an accounting standards update was issued that clarifies the principles for recognizing revenue from contracts with customers. The update will supersede the existing standard for recognizing revenue. Additional updates have been issued since May 2014 amending aspects of the initial update and providing implementation guidance. The guidance is applicable to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. Further, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Upon becoming effective, an entity may adopt the standard either retrospectively to each prior reporting period presented, or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application. The Company is in the process of examining its current revenue streams and significant contracts with customers under the requirements of the new standard and, based on the progress of this examination to date, does not believe the standard will have a material impact on its financial position, net income or cash flows. In particular, the Company is currently examining certain scrap metal purchase and sale arrangements to determine if it is the principal or the agent in the transaction under the new guidance. The outcome of this determination could result in a different classification of the cost of scrap metal purchased compared to the Company's treatment under the existing revenue standard. The Company is also analyzing the expanded disclosure requirements under the new standard, the method of adoption, and potential changes to its accounting policies, processes, systems and internal controls that may be required to support the new standard. In January 2016, an accounting standards update was issued that amends certain aspects of the reporting model for financial instruments. Most prominent among the amendments is the requirement for equity investments, with certain exceptions including those accounted for under the equity method of accounting, to be measured at fair value with changes in fair value recognized in net income. An entity may choose to measure equity investments that do not have readily determinable fair values, such as certain cost method investments, 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. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. The Company is evaluating the impact of adopting this standard on its consolidated financial position, results of operations and cash flows. In February 2016, an accounting standard was issued that will supersede the existing lease standard and require a lessee to recognize a lease liability and a lease asset on its balance sheet for all leases, including those classified as operating leases under the existing lease standard. The update also expands the required quantitative and qualitative disclosures surrounding leases. This standard is effective for the Company beginning in fiscal 2020, including interim periods within that fiscal year. This standard will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is in the process of identifying its population of leases within the scope of the new accounting standard and documenting salient lease terms to support the initial and subsequent measurement of lease liabilities and lease assets. The Company is evaluating the impact of adopting this standard on its financial position, results of operations, cash flows and disclosures. In August 2016, an accounting standards update was issued that addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows. Among the cash flow matters addressed in the update are payments for costs related to debt prepayments or extinguishments, payments related to settlement of certain types of debt instruments, payments of contingent consideration made after a business combination, proceeds from insurance claims and corporate-owned life insurance policies, and distributions received from equity method investees, among others. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period, and all of the amendments must be adopted together in the same period. The amendments will be applied to each period presented using a retrospective transition method, unless impracticable for specific cash flow matters, in which case the amendments would be applied prospectively as of the earliest date practicable. The Company does not expect adoption to have a material impact on its consolidated statement of cash flows. In October 2016, an accounting standards update was issued that amends the existing guidance on the accounting for the income tax effects of intra-entity transfers of assets other than inventory. Current accounting standards prohibit the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The amendments in the update require that entities recognize the income tax effects of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments do not change accounting standards for the pre-tax effects of an intra-entity asset transfer under accounting standards applicable to consolidation, or for an intra-entity transfer of inventory. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted in the first interim period of a fiscal year. The amendments will be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect adoption to have a material impact on its consolidated financial position, results of operations and cash flows. In March 2017, an accounting standards update was issued that modifies the presentation requirements for net periodic pension cost and net periodic postretirement benefit cost within an entity's income statement. The amendments in the update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The amendments also require the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization, when applicable. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted. Aspects of the update affecting income statement presentation must be applied retrospectively, while aspects affecting the capitalization of the service cost component in assets must be applied prospectively on and after the effective date. The Company does not expect adoption to have a material impact on its consolidated financial position, results of operations and cash flows.

Goodwill

6 Months Ended

Feb. 28, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

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. There were no triggering events identified during the first half of fiscal 2018 requiring an interim goodwill impairment test. As of February 28, 2018 and August 31, 2017, all of the Company's goodwill was carried by the AMR reportable segment.

The gross change in the carrying amount of goodwill for the six months ended February 28, 2018 was as follows (in thousands):



	Goodwill
August 31, 2017	$	167,835
Acquisition	1,118
Foreign currency translation adjustment	(569		)
February 28, 2018	$	168,384

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.

Accumulated goodwill impairment charges were $471 million as of February 28, 2018 and August 31, 2017.

Commitments and Contingencies

6 Months Ended

Feb. 28, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Contingencies - Environmental

The Company evaluates the adequacy of its environmental liabilities on a quarterly basis. Adjustments to the liabilities are made when additional information becomes available that affects the estimated costs to study or remediate any environmental issues or expenditures are made for which liabilities were established.

Changes in the Company's environmental liabilities for the six months ended February 28, 2018 were as follows (in thousands):



Balance as of August 31, 2017		Liabilities Established (Released), Net		Payments and Other			Balance as of February 28, 2018		Short-Term		Long-Term
$	48,398	$	7,651	$	(1,597	)	$	54,452	$	6,537	$	47,915

Recycling Operations

As of February 28, 2018 and August 31, 2017, the Company's recycling operations had environmental liabilities of $54 million and $48 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 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 $115 million in investigation-related costs over an approximately 10 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. The Company recently 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. Phase 3, which has not yet commenced, will involve the full implementation of the AP and the final injury and damage determination. The Company has not yet commenced discussions with the Trustee Council regarding early settlements under Phase 2, and therefore it is uncertain whether it 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 Company intends to defend against such claims 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 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 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 estimates that its share of the costs of performing such work will be approximately $2 million, which it recorded to environmental liabilities and selling, general and administrative expense in the consolidated financial statements in the first quarter of 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 the first quarter of fiscal 2018, resulting in no net impact to the Company's consolidated results of operations.

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. The Company does not expect the next major stage of the allocation process to proceed until after the additional pre-remedial design data is collected.

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), remediation 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. As of February 28, 2018, the Company's total liability for its estimated share of the costs of the investigation was $3 million.

The Oregon Department of Environmental Quality is separately providing oversight of voluntary investigations 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 February 28, 2018 and August 31, 2017, other than Portland Harbor, include actual or possible investigation and cleanup costs from historical contamination at sites currently or formerly owned or 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. Where 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 the first six months of 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. 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 estimates a range of reasonably possible losses 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, if incurred, are covered by existing insurance coverage or may be offset by contributions from other responsible parties.

The Company's environmental loss contingencies as of February 28, 2018 also include $5 million for the estimated costs related to remediation of soil and groundwater conditions in connection with a closed facility owned and previously operated by an indirectly 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 in connection with this matter at the time such losses are probable and can be reasonably estimated. However, the Company cannot reasonably estimate at this time the possible loss or range of possible losses associated with this matter pending completion of on-going studies and determination of remediation plans.

Steel Manufacturing Operations

The Company's steel manufacturing operations had no known environmental liabilities as of February 28, 2018 and August 31, 2017.

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 950 thousand tons. The Company's permit was first issued in 1998 and renewed through February 1, 2018. The permit renewal process occurs every five years and is underway for the next renewal period, however, the existing permit is extended by administrative rule until the current renewal process is finalized.

Summary - Environmental Contingencies

Other than the Portland Harbor Superfund site and legacy environmental loss contingencies, which are discussed separately above, management currently believes that adequate provision has been made for the potential impact of these issues and that the ultimate outcomes will not have a material adverse effect on the Company's consolidated financial statements as a whole. Historically, the amounts the Company has ultimately paid for such remediation activities have not been material in any given period.

Contingencies - Other

The Company, one of its employees, and one of the Company's insurance carriers are named as defendants in five separate wrongful death lawsuits filed in the State of Georgia arising from an accident involving a tractor trailer driven by a Company employee and owned by the Company. Plaintiffs are seeking compensatory and punitive damages, which are unspecified at this stage of the proceedings. These cases are consolidated for discovery purposes but not for trial. On March 1, 2018, a trial date of October 22, 2018 was set in one of the cases. The Company is currently unable to reasonably estimate a range of loss that may be incurred in connection with these cases because a number of key issues remain uncertain. It is reasonably possible that the Company may recognize losses in connection with these lawsuits at the time such losses are probable and can be reasonably estimated. Such losses may be material to the Company's consolidated financial statements. To the extent that circumstances change and the Company determines that a loss is reasonably possible, can be reasonably estimated, and is material, the Company would then disclose an estimate of the possible loss or range of loss. The Company believes that such losses, if incurred, would be substantially covered by existing insurance coverage.

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 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.

Restructuring Charges and Other Exit-Related Activities	6 Months Ended
Restructuring Charges and Other Exit-Related Activities	Feb. 28, 2018
Restructuring Charges, Asset Impairment and Accelerated Depreciation [Abstract]
Restructuring Charges and Other Exit-Related Activities	Restructuring Charges and Other Exit-Related Activities Restructuring charges primarily relate to initiatives announced in fiscal 2015 and expanded in subsequent periods. Charges related to these initiatives were substantially complete by the end of fiscal 2017. However, the Company incurred and may continue to incur additional restructuring charges primarily as a result of remeasuring lease contract termination liabilities to reflect changes in contractual lease rentals and estimated sublease rentals. In addition to the restructuring charges recorded related to these initiatives, the Company recognized a net gain from other exit related activities of $1 million and less than $1 million during the three and six months ended February 28, 2017, respectively, primarily related to a gain recorded in the second quarter of fiscal 2017 in connection with the disposition of business assets upon the elimination of a metals recycling feeder yard operation.

Changes in Equity

6 Months Ended

Feb. 28, 2018

Stockholders' Equity Note [Abstract]

Changes in Equity

Changes in equity comprise the following (in thousands):



	Six Months Ended February 28, 2018									Six Months Ended February 28, 2017
	SSI Shareholders' Equity			Noncontrolling Interests			Total Equity			SSI Shareholders' Equity			Noncontrolling Interests			Total Equity
Balance - September 1 (Beginning of period)	$	533,586		$	3,907		$	537,493		$	497,721		$	3,711		$	501,432
Net income	59,380			1,760			61,140			9,711			1,280			10,991
Other comprehensive loss, net of tax	(1,736		)	—			(1,736		)	(779		)	—			(779		)
Reclassification of stranded tax effects of the Tax Act	517			—			517			—			—			—
Distributions to noncontrolling interests	—			(817		)	(817		)	—			(852		)	(852		)
Share repurchases	(3,601		)	—			(3,601		)	—			—			—
Restricted stock withheld for taxes	(2,888		)	—			(2,888		)	(3,301		)	—			(3,301		)
Share-based compensation	8,095			—			8,095			5,570			—			5,570
Purchase of noncontrolling interest	(183		)	(417		)	(600		)	—			—			—
Dividends	(10,507		)	—			(10,507		)	(10,377		)	—			(10,377		)
Balance - February 28 (End of period)	$	582,663		$	4,433		$	587,096		$	498,545		$	4,139		$	502,684

Accumulated Other Comprehensive Loss

6 Months Ended

Feb. 28, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss, net of tax, comprise the following (in thousands):



	Three Months Ended February 28, 2018									Three Months Ended February 28, 2017
	Foreign Currency Translation Adjustments			Pension Obligations, Net			Total			Foreign Currency Translation Adjustments			Pension Obligations, Net			Total
Balances - December 1 (Beginning of period)	$	(33,537	)	$	(3,383	)	$	(36,920	)	$	(35,573	)	$	(5,641	)	$	(41,214	)
Other comprehensive income before reclassifications	117			—			117			240			—			240
Income tax (expense) benefit	—			—			—			—			—			—
Other comprehensive income before reclassifications, net of tax	117			—			117			240			—			240
Amounts reclassified from accumulated other comprehensive loss	—			77			77			—			125			125
Income tax benefit	—			(303		)	(303		)	—			(45		)	(45		)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(226		)	(226		)	—			80			80
Net periodic other comprehensive income (loss)	117			(226		)	(109		)	240			80			320
Balances - February 28 (End of period)	$	(33,420	)	$	(3,609	)	$	(37,029	)	$	(35,333	)	$	(5,561	)	$	(40,894	)

	Six Months Ended February 28, 2018									Six Months Ended February 28, 2017
	Foreign Currency Translation Adjustments			Pension Obligations, Net			Total			Foreign Currency Translation Adjustments			Pension Obligations, Net			Total
Balances - September 1 (Beginning of period)	$	(31,828	)	$	(3,465	)	$	(35,293	)	$	(34,539	)	$	(5,576	)	$	(40,115	)
Other comprehensive income (loss) before reclassifications	(1,592		)	(185		)	(1,777		)	(794		)	49			(745		)
Income tax (expense) benefit	—			227			227			—			(194		)	(194		)
Other comprehensive income (loss) before reclassifications, net of tax	(1,592		)	42			(1,550		)	(794		)	(145		)	(939		)
Amounts reclassified from accumulated other comprehensive loss	—			140			140			—			250			250
Income tax benefit	—			(326		)	(326		)	—			(90		)	(90		)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(186		)	(186		)	—			160			160
Net periodic other comprehensive income (loss)	(1,592		)	(144		)	(1,736		)	(794		)	15			(779		)
Balances - February 28 (End of period)	$	(33,420	)	$	(3,609	)	$	(37,029	)	$	(35,333	)	$	(5,561	)	$	(40,894	)

In the second quarter of fiscal 2018, the Company adopted an accounting standard update that allows for a reclassification from accumulated other comprehensive income ("AOCI") to retained earnings for stranded tax effects resulting from the Tax Act enacted on December 22, 2017. Reclassifications from AOCI to retained earnings for stranded tax effects in the second quarter of fiscal 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 Unaudited Condensed Consolidated Statements of Income for all periods presented.

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Feb. 28, 2018
Share-based Compensation [Abstract]
Share-based Compensation	Share-Based Compensation In the first quarter of fiscal 2018, as part of the annual awards under the Company's Long-Term Incentive Plan, the Compensation Committee of the Company's Board of Directors ("Compensation Committee") granted 252,865 restricted stock units ("RSUs") and 246,161 performance share awards to the Company's key employees and officers under the Company's 1993 Amended and Restated Stock Incentive Plan ("SIP"). The RSUs have a five-year term and vest 20% per year commencing October 31, 2018. The aggregate fair value of all of the RSUs granted was based on the market closing price of the underlying Class A common stock on the grant date and totaled $7 million. The compensation expense associated with the RSUs is recognized over the requisite service period of the awards, net of forfeitures. The performance share awards comprise two separate and distinct awards with different vesting conditions. The Compensation Committee granted 119,763 performance share awards based on a relative Total Shareholder Return ("TSR") metric over a performance period spanning November 14, 2017 to August 31, 2020. Award share payouts range from a threshold of 50% to a maximum of 200% based on the relative ranking of the Company's TSR among a designated peer group of 16 companies. 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 TSR awards contain a market condition and, therefore, once the award recipients complete the requisite service period, the related compensation expense based on the grant-date fair value is not changed, regardless of whether the market condition has been satisfied. The estimated fair value of the TSR awards at the date of grant was $3 million. The Company estimated the fair value of the TSR awards using a Monte-Carlo simulation model utilizing several key assumptions including expected Company and peer company share price volatility, correlation coefficients between peers, the risk-free rate of return, the expected dividend yield and other award design features. The remaining 126,398 performance share awards have a three-year performance period consisting of the Company's 2018, 2019 and 2020 fiscal years. The performance targets are based on the Company's return on capital employed over the three-year performance period, with award payouts ranging from a threshold of 50% to a maximum of 200%. The fair value of the awards granted was based on the market closing price of the underlying Class A common stock on the grant date and totaled $3 million. The compensation expense associated with performance share awards is recognized over the requisite service period, net of forfeitures. Performance share awards will be paid in Class A common stock as soon as practicable after the end of the requisite service period and vesting date of October 31, 2020. In the second quarter of fiscal 2018, the Company granted deferred stock units ("DSUs") to each of its non-employee directors under the Company's SIP. Each DSU gives the director the right to receive one share of Class A common stock at a future date. The grant included an aggregate of 20,748 shares that will vest in full on the day before the Company's 2019 annual meeting of shareholders, subject to continued Board service. The total value of these awards at the grant date was $1 million.

Income Taxes	6 Months Ended
Income Taxes	Feb. 28, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Tax Cuts and Jobs Act and SEC Staff Accounting Bulletin 118 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. Other pertinent changes in the Tax Act effective for fiscal 2018 include, but are not limited to, acceleration of deductions for qualified property placed in service after September 27, 2017. In addition, effective for the Company's fiscal 2019 year, the Tax Act also limits the deductibility of some executive compensation and eliminates the deduction for qualified domestic production activities. Changes in the Tax Act not significantly impacting 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. 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 the second quarter and first six months of fiscal 2018 also reflects application of the Tax Act's lower Federal statutory corporate tax rate to fiscal 2018 projected taxable income. On December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin 118 ("SAB 118"), which provides guidance on accounting for the impacts of the Tax Act. SAB 118 provides a measurement period, not to exceed one year from the Tax Act enactment date, for companies to complete the accounting under Accounting Standards Codification Topic 740, Income Taxes ("ASC 740"). In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the Tax Act is incomplete, but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. Provisional estimates are subject to adjustment during the measurement period until the accounting is complete. If a company cannot determine a provisional estimate to be included in the financial statements, it must continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. The Company's accounting for the impacts of the Tax Act is incomplete, and the recorded amounts discussed above in this Note are provisional estimates as of February 28, 2018. While the Company was able to reasonably estimate the impact of the reduction in the corporate rate on its U.S. net deferred tax liabilities, it may be affected by other analyses related to the Tax Act including, but not limited to, changes in the underlying accounts to which the respective deferred tax assets and liabilities relate and the state tax effects of adjustments made to federal temporary differences. The provisional benefit resulting from application of the Tax Act's lower corporate tax rate to fiscal 2018 projected taxable income reflects reasonable estimates of the Company's fiscal 2018 pre-tax income and effects of the Tax Act. These reasonable estimates include, but are not limited to, the amount of capital expenditures for qualified property that will be placed in service as of the end of fiscal 2018. 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 the second quarter of fiscal 2018, the Company released valuation allowances against certain U.S. and state deferred tax assets resulting in a discrete tax benefit of $7 million. The release of these valuation allowances was the result of sufficient positive evidence, including cumulative income 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. and state and all Canadian and Puerto Rican deferred tax assets. Effective Tax Rate The effective tax rate from continuing operations for the second quarter and first six months of fiscal 2018 was a benefit of 33.9% and 8.2%, respectively, compared to an expense of 5.1% and 4.9%, respectively, for the comparable prior year periods. The Company reported a tax benefit on pre-tax income for the second quarter and first six months of fiscal 2018 primarily due to the impact of the Tax Act and the release of valuation allowances against certain deferred tax assets in the second quarter of fiscal 2018. The effective tax rate from continuing operations for the second quarter and first six months of fiscal 2017 was lower than the Federal statutory rate at the time of 35% primarily due to the lower projected annual effective tax rate applied to the quarterly results. The low projected annual effective tax rate in the second quarter and first six months of fiscal 2017 was the result of the Company's full valuation allowance positions partially offset by increases in deferred tax liabilities from indefinite-lived assets in all jurisdictions. 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 2017 remain subject to examination under the statute of limitations.

Net Income Per Share

6 Months Ended

Feb. 28, 2018

Earnings Per Share [Abstract]

Net Income Per Share

The following table sets forth the information used to compute basic and diluted net income (loss) per share attributable to SSI (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Income from continuing operations	$	41,755		$	11,794		$	61,011		$	11,139
Net income attributable to noncontrolling interests	(903		)	(662		)	(1,760		)	(1,280		)
Income from continuing operations attributable to SSI	40,852			11,132			59,251			9,859
Income (loss) from discontinued operations, net of tax	164			(95		)	129			(148		)
Net income attributable to SSI	$	41,016		$	11,037		$	59,380		$	9,711
Computation of shares:
Weighted average common shares outstanding, basic	27,797			27,524			27,745			27,447
Incremental common shares attributable to dilutive performance share, RSU and DSU awards	1,008			340			992			367
Weighted average common shares outstanding, diluted	28,805			27,864			28,737			27,814

Common stock equivalent shares of 238,767 and 220,624 were considered antidilutive and were excluded from the calculation of diluted net income per share for the three and six months ended February 28, 2017, respectively. An insignificant number of common stock equivalent shares were considered antidilutive for the three and six months ended February 28, 2018.

Related Party Transactions	6 Months Ended
Related Party Transactions	Feb. 28, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company purchases recycled metal from its joint venture operations at prices that approximate fair market value. These purchases totaled $4 million and $3 million for the three months ended February 28, 2018 and 2017, respectively, and $7 million and $6 million for the six months ended February 28, 2018 and 2017, respectively.

Segment Information

6 Months Ended

Feb. 28, 2018

Segment Reporting [Abstract]

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.

Prior to the fourth quarter of fiscal 2017, the Company's internal organizational and reporting structure supported two operating and reportable segments: the Auto and Metals Recycling ("AMR") business and the Steel Manufacturing Business ("SMB"). In the fourth quarter of fiscal 2017, in accordance with its plan announced in June 2017, the Company modified its internal organizational and reporting structure to combine its steel manufacturing operations, which had been reported as the SMB segment, with its Oregon metals recycling operations, which had been reported within the AMR segment, forming a new division named Cascade Steel and Scrap ("CSS"). This resulted in a realignment of how the Chief Executive Officer, who is considered the Company's chief operating decision maker, reviews performance and makes decisions on resource allocation. The Company began reporting under this new segment structure in the fourth quarter of fiscal 2017 as reflected in its Annual Report on Form 10-K for the year ended August 31, 2017. The segment data for the comparable periods presented herein have been recast to conform to the current period presentation for all activities of the reorganized segments. Recasting this historical information did not have an impact on the Company's consolidated financial performance for any of the periods presented.

AMR buys and processes ferrous and nonferrous scrap metal for sale to foreign and domestic steel producers or their representatives 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 autobodies that are processed into saleable recycled scrap metal. CSS operates a steel mini-mill that produces a range of finished steel long products using recycled scrap metal and other raw materials. CSS's steel mill obtains substantially all of its recycled 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.

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. Three of the joint venture interests are presented as part of AMR operations, and one interest is presented as part of CSS operations. The joint ventures sell recycled scrap metal to AMR and to 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.

Intersegment sales from AMR to CSS are made at prices that approximate local market rates. These intercompany sales tend to produce intercompany profits which are 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 and expense 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. 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. In addition, the Company does not allocate restructuring charges and other exit-related activities and charges related to certain legacy environmental liabilities to the segment operating income because management does not include this information in its measurement of the performance of the operating segments. 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.

The table below illustrates the Company's revenues from continuing operations by reportable segment (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Revenues:
Auto and Metals Recycling:
Revenues	$	449,785		$	313,142		$	847,839		$	584,915
Less: Intersegment revenues	(7,056		)	(3,181		)	(11,815		)	(6,816		)
AMR external customer revenues	442,729			309,961			836,024			578,099
Cascade Steel and Scrap:
Revenues	116,714			72,123			206,698			138,146
Total revenues	$	559,443		$	382,084		$	1,042,722		$	716,245

The table below illustrates the reconciliation of the Company's segment operating income to income from continuing operations before income taxes (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Auto and Metals Recycling	$	45,132		$	25,288		$	80,304		$	37,894
Cascade Steel and Scrap	5,413			(1,279		)	13,889			(3,907		)
Segment operating income	50,545			24,009			94,193			33,987
Restructuring charges and other exit-related activities	(91		)	494			(191		)	293
Corporate and eliminations	(17,096		)	(10,332		)	(34,221		)	(19,522		)
Operating income	33,358			14,171			59,781			14,758
Interest expense	(2,281		)	(2,097		)	(4,340		)	(3,838		)
Other income, net	101			357			950			794
Income from continuing operations before income taxes	$	31,178		$	12,431		$	56,391		$	11,714

The following is a summary of the Company's total assets by reportable segment (in thousands):



	February 28, 2018			August 31, 2017
Auto and Metals Recycling⁽¹⁾	$	1,388,423		$	1,298,757
Cascade Steel and Scrap⁽¹⁾	714,614			696,269
Total segment assets	2,103,037			1,995,026
Corporate and eliminations⁽²⁾	(1,051,340		)	(1,061,271		)
Total assets	$	1,051,697		$	933,755

_____________________________


(1)	AMR total assets included $4 million and $5 million for investments in joint ventures as of February 28, 2018 and August 31, 2017, respectively. CSS total assets included $7 million for investments in joint ventures as of February 28, 2018 and August 31, 2017.


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

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Feb. 28, 2018

Accounting Policies [Abstract]

Basis of Presentation

Accounting Changes

Cash and Cash Equivalents

Investments in Joint Ventures

Cost Method Investment

Long-Lived Assets

Concentration of Credit Risk

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.

Recent Accounting Pronouncements

In May 2014, an accounting standards update was issued that clarifies the principles for recognizing revenue from contracts with customers. The update will supersede the existing standard for recognizing revenue. Additional updates have been issued since May 2014 amending aspects of the initial update and providing implementation guidance. The guidance is applicable to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. Further, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Upon becoming effective, an entity may adopt the standard either retrospectively to each prior reporting period presented, or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application. The Company is in the process of examining its current revenue streams and significant contracts with customers under the requirements of the new standard and, based on the progress of this examination to date, does not believe the standard will have a material impact on its financial position, net income or cash flows. In particular, the Company is currently examining certain scrap metal purchase and sale arrangements to determine if it is the principal or the agent in the transaction under the new guidance. The outcome of this determination could result in a different classification of the cost of scrap metal purchased compared to the Company's treatment under the existing revenue standard. The Company is also analyzing the expanded disclosure requirements under the new standard, the method of adoption, and potential changes to its accounting policies, processes, systems and internal controls that may be required to support the new standard.

In January 2016, an accounting standards update was issued that amends certain aspects of the reporting model for financial instruments. Most prominent among the amendments is the requirement for equity investments, with certain exceptions including those accounted for under the equity method of accounting, to be measured at fair value with changes in fair value recognized in net income. An entity may choose to measure equity investments that do not have readily determinable fair values, such as certain cost method investments, 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. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. The Company is evaluating the impact of adopting this standard on its consolidated financial position, results of operations and cash flows.

In February 2016, an accounting standard was issued that will supersede the existing lease standard and require a lessee to recognize a lease liability and a lease asset on its balance sheet for all leases, including those classified as operating leases under the existing lease standard. The update also expands the required quantitative and qualitative disclosures surrounding leases. This standard is effective for the Company beginning in fiscal 2020, including interim periods within that fiscal year. This standard will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is in the process of identifying its population of leases within the scope of the new accounting standard and documenting salient lease terms to support the initial and subsequent measurement of lease liabilities and lease assets. The Company is evaluating the impact of adopting this standard on its financial position, results of operations, cash flows and disclosures.

In August 2016, an accounting standards update was issued that addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows. Among the cash flow matters addressed in the update are payments for costs related to debt prepayments or extinguishments, payments related to settlement of certain types of debt instruments, payments of contingent consideration made after a business combination, proceeds from insurance claims and corporate-owned life insurance policies, and distributions received from equity method investees, among others. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period, and all of the amendments must be adopted together in the same period. The amendments will be applied to each period presented using a retrospective transition method, unless impracticable for specific cash flow matters, in which case the amendments would be applied prospectively as of the earliest date practicable. The Company does not expect adoption to have a material impact on its consolidated statement of cash flows.

In October 2016, an accounting standards update was issued that amends the existing guidance on the accounting for the income tax effects of intra-entity transfers of assets other than inventory. Current accounting standards prohibit the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The amendments in the update require that entities recognize the income tax effects of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments do not change accounting standards for the pre-tax effects of an intra-entity asset transfer under accounting standards applicable to consolidation, or for an intra-entity transfer of inventory. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted in the first interim period of a fiscal year. The amendments will be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect adoption to have a material impact on its consolidated financial position, results of operations and cash flows.

In March 2017, an accounting standards update was issued that modifies the presentation requirements for net periodic pension cost and net periodic postretirement benefit cost within an entity's income statement. The amendments in the update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The amendments also require the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization, when applicable. The standard is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted. Aspects of the update affecting income statement presentation must be applied retrospectively, while aspects affecting the capitalization of the service cost component in assets must be applied prospectively on and after the effective date. The Company does not expect adoption to have a material impact on its consolidated financial position, results of operations and cash flows.

Inventories (Tables)

6 Months Ended

Feb. 28, 2018

Inventory, Net [Abstract]

Inventories

Inventories consisted of the following (in thousands):



	February 28, 2018		August 31, 2017
Processed and unprocessed scrap metal	$	128,916	$	88,441
Semi-finished goods	12,630		3,243
Finished goods	45,459		40,462
Supplies	34,940		34,796
Inventories	$	221,945	$	166,942

Goodwill (Tables)

6 Months Ended

Feb. 28, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The gross change in the carrying amount of goodwill for the six months ended February 28, 2018 was as follows (in thousands):



	Goodwill
August 31, 2017	$	167,835
Acquisition	1,118
Foreign currency translation adjustment	(569		)
February 28, 2018	$	168,384

Changes in Equity (Tables)

6 Months Ended

Feb. 28, 2018

Stockholders' Equity Note [Abstract]

Schedule of Stockholders' Equity

Changes in equity comprise the following (in thousands):



	Six Months Ended February 28, 2018									Six Months Ended February 28, 2017
	SSI Shareholders' Equity			Noncontrolling Interests			Total Equity			SSI Shareholders' Equity			Noncontrolling Interests			Total Equity
Balance - September 1 (Beginning of period)	$	533,586		$	3,907		$	537,493		$	497,721		$	3,711		$	501,432
Net income	59,380			1,760			61,140			9,711			1,280			10,991
Other comprehensive loss, net of tax	(1,736		)	—			(1,736		)	(779		)	—			(779		)
Reclassification of stranded tax effects of the Tax Act	517			—			517			—			—			—
Distributions to noncontrolling interests	—			(817		)	(817		)	—			(852		)	(852		)
Share repurchases	(3,601		)	—			(3,601		)	—			—			—
Restricted stock withheld for taxes	(2,888		)	—			(2,888		)	(3,301		)	—			(3,301		)
Share-based compensation	8,095			—			8,095			5,570			—			5,570
Purchase of noncontrolling interest	(183		)	(417		)	(600		)	—			—			—
Dividends	(10,507		)	—			(10,507		)	(10,377		)	—			(10,377		)
Balance - February 28 (End of period)	$	582,663		$	4,433		$	587,096		$	498,545		$	4,139		$	502,684

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Feb. 28, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss, net of tax, comprise the following (in thousands):



	Three Months Ended February 28, 2018									Three Months Ended February 28, 2017
	Foreign Currency Translation Adjustments			Pension Obligations, Net			Total			Foreign Currency Translation Adjustments			Pension Obligations, Net			Total
Balances - December 1 (Beginning of period)	$	(33,537	)	$	(3,383	)	$	(36,920	)	$	(35,573	)	$	(5,641	)	$	(41,214	)
Other comprehensive income before reclassifications	117			—			117			240			—			240
Income tax (expense) benefit	—			—			—			—			—			—
Other comprehensive income before reclassifications, net of tax	117			—			117			240			—			240
Amounts reclassified from accumulated other comprehensive loss	—			77			77			—			125			125
Income tax benefit	—			(303		)	(303		)	—			(45		)	(45		)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(226		)	(226		)	—			80			80
Net periodic other comprehensive income (loss)	117			(226		)	(109		)	240			80			320
Balances - February 28 (End of period)	$	(33,420	)	$	(3,609	)	$	(37,029	)	$	(35,333	)	$	(5,561	)	$	(40,894	)

	Six Months Ended February 28, 2018									Six Months Ended February 28, 2017
	Foreign Currency Translation Adjustments			Pension Obligations, Net			Total			Foreign Currency Translation Adjustments			Pension Obligations, Net			Total
Balances - September 1 (Beginning of period)	$	(31,828	)	$	(3,465	)	$	(35,293	)	$	(34,539	)	$	(5,576	)	$	(40,115	)
Other comprehensive income (loss) before reclassifications	(1,592		)	(185		)	(1,777		)	(794		)	49			(745		)
Income tax (expense) benefit	—			227			227			—			(194		)	(194		)
Other comprehensive income (loss) before reclassifications, net of tax	(1,592		)	42			(1,550		)	(794		)	(145		)	(939		)
Amounts reclassified from accumulated other comprehensive loss	—			140			140			—			250			250
Income tax benefit	—			(326		)	(326		)	—			(90		)	(90		)
Amounts reclassified from accumulated other comprehensive loss, net of tax	—			(186		)	(186		)	—			160			160
Net periodic other comprehensive income (loss)	(1,592		)	(144		)	(1,736		)	(794		)	15			(779		)
Balances - February 28 (End of period)	$	(33,420	)	$	(3,609	)	$	(37,029	)	$	(35,333	)	$	(5,561	)	$	(40,894	)

Net Income Per Share (Tables)

6 Months Ended

Feb. 28, 2018

Earnings Per Share [Abstract]

Net Income Per Share

The following table sets forth the information used to compute basic and diluted net income (loss) per share attributable to SSI (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Income from continuing operations	$	41,755		$	11,794		$	61,011		$	11,139
Net income attributable to noncontrolling interests	(903		)	(662		)	(1,760		)	(1,280		)
Income from continuing operations attributable to SSI	40,852			11,132			59,251			9,859
Income (loss) from discontinued operations, net of tax	164			(95		)	129			(148		)
Net income attributable to SSI	$	41,016		$	11,037		$	59,380		$	9,711
Computation of shares:
Weighted average common shares outstanding, basic	27,797			27,524			27,745			27,447
Incremental common shares attributable to dilutive performance share, RSU and DSU awards	1,008			340			992			367
Weighted average common shares outstanding, diluted	28,805			27,864			28,737			27,814

Segment Information (Tables)

6 Months Ended

Feb. 28, 2018

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The table below illustrates the Company's revenues from continuing operations by reportable segment (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Revenues:
Auto and Metals Recycling:
Revenues	$	449,785		$	313,142		$	847,839		$	584,915
Less: Intersegment revenues	(7,056		)	(3,181		)	(11,815		)	(6,816		)
AMR external customer revenues	442,729			309,961			836,024			578,099
Cascade Steel and Scrap:
Revenues	116,714			72,123			206,698			138,146
Total revenues	$	559,443		$	382,084		$	1,042,722		$	716,245

Reconciliation of Operating Income from Segments to Consolidated

The table below illustrates the reconciliation of the Company's segment operating income to income from continuing operations before income taxes (in thousands):



	Three Months Ended February 28,						Six Months Ended February 28,
	2018			2017			2018			2017
Auto and Metals Recycling	$	45,132		$	25,288		$	80,304		$	37,894
Cascade Steel and Scrap	5,413			(1,279		)	13,889			(3,907		)
Segment operating income	50,545			24,009			94,193			33,987
Restructuring charges and other exit-related activities	(91		)	494			(191		)	293
Corporate and eliminations	(17,096		)	(10,332		)	(34,221		)	(19,522		)
Operating income	33,358			14,171			59,781			14,758
Interest expense	(2,281		)	(2,097		)	(4,340		)	(3,838		)
Other income, net	101			357			950			794
Income from continuing operations before income taxes	$	31,178		$	12,431		$	56,391		$	11,714

Reconciliation of Assets from Segment to Consolidated

The following is a summary of the Company's total assets by reportable segment (in thousands):



	February 28, 2018			August 31, 2017
Auto and Metals Recycling⁽¹⁾	$	1,388,423		$	1,298,757
Cascade Steel and Scrap⁽¹⁾	714,614			696,269
Total segment assets	2,103,037			1,995,026
Corporate and eliminations⁽²⁾	(1,051,340		)	(1,061,271		)
Total assets	$	1,051,697		$	933,755

_____________________________


(1)	AMR total assets included $4 million and $5 million for investments in joint ventures as of February 28, 2018 and August 31, 2017, respectively. CSS total assets included $7 million for investments in joint ventures as of February 28, 2018 and August 31, 2017.


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

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017
Summary of Significant Accounting Policies
Stranded tax effects reclassified from AOCI to Retained Earnings, effects of Tax Act	$ 1,000,000		$ 517,000	$ 0
Book Overdrafts	20,000,000		20,000,000		$ 21,000,000
Income from Joint Ventures	106,000	$ 2,220,000	556,000	2,632,000
Cost Method Investment, Original Cost		6,000,000		6,000,000
Cost Method Investment, Carrying Value	6,000,000		6,000,000		6,000,000
Cash, FDIC Insured Amount	250,000		250,000
Customer Issued Letters Of Credit	$ 84,000,000		84,000,000		$ 48,000,000
Cascade Steel and Scrap
Summary of Significant Accounting Policies
Accelerated Depreciation (less than $1 million for 2017)			1,000,000	1,000,000
Gain on Sale of Previously Impaired Assets			$ 1,000,000
Corporate Joint Venture
Summary of Significant Accounting Policies
Joint Venture, Gain on Disposition of Assets		6,000,000
Gain on Disposition of Assets from Joint Venture		3,000,000
Joint Venture, Revenue		0		0
Joint Venture, Gross Profit (Loss)		0		0
Joint Venture, Net Income (Loss)		6,000,000		6,000,000
Income from Joint Ventures		$ 3,000,000		$ 3,000,000

Inventories (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Inventory, Net [Abstract]
Processed and unprocessed scrap metal	$ 128,916	$ 88,441
Semi-finished goods	12,630	3,243
Finished goods	45,459	40,462
Supplies	34,940	34,796
Inventories	$ 221,945	$ 166,942

Goodwill Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 28, 2018	Feb. 28, 2018
Goodwill [Roll Forward]
August 31, 2017		$ 167,835
February 28, 2018	$ 168,384	168,384
Auto and Metals Recycling
Goodwill [Roll Forward]
August 31, 2017		167,835
Acquisition	1,000	1,118
Foreign currency translation adjustment		(569)
February 28, 2018	$ 168,384	$ 168,384

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Feb. 28, 2018	Aug. 31, 2017
Goodwill [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ 471,000	$ 471,000	$ 471,000
Auto and Metals Recycling
Goodwill [Line Items]
Business Combination, Consideration Transferred	2,000
Goodwill, Acquired During Period	$ 1,000	$ 1,118

Commitments and Contingencies Schedule of Environmental Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2018	Aug. 31, 2017
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning Balance	$ 48,398
Liabilities Established (Released), Net	7,651
Payments and Other	(1,597)
Ending Balance	54,452
Short-Term	6,537	$ 2,007
Long-Term	$ 47,915	$ 46,391

Commitments and Contingencies Narrative (Details) T in Thousands			1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2017 potentially_responsible_party	Aug. 31, 2007 USD ($)	Jan. 31, 2017 USD ($)	Nov. 30, 2017 USD ($)	Feb. 28, 2018 USD ($) potentially_responsible_party lawsuit T	Aug. 31, 2017 USD ($)	Jan. 30, 2017 party
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies					$ 54,452,000	$ 48,398,000
Parties Liable in Litigation \| party							30
Liabilities Established					7,651,000
Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies					$ 3,000,000
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
Loss Contingency, Receivable (Period Receivable Recorded)				$ 2,000,000
Legacy Environmental Site 1 - Remediation of Shredder Residue
Loss Contingencies [Line Items]
Environmental Remediation Expense Accrued in the Period					$ 4,000,000
Other Auto and Metals Recycling Business Sites
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies					54,000,000	48,000,000
Legacy Environmental Site 2 - Remediation of Soil and Groundwater Conditions
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies					$ 5,000,000
Wrongful Death Lawsuits \| Pending Litigation \| State of Georgia
Loss Contingencies [Line Items]
Number of Pending Wrongful Death Lawsuits \| lawsuit					5
Minimum \| Legacy Environmental Site 1 - Remediation of Shredder Residue
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued					$ 0
Maximum \| Legacy Environmental Site 1 - Remediation of Shredder Residue
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued					28,000,000
Lower Willamette Group \| Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Remedial Investigation and Feasibility Study Costs		$ 115,000,000
Number of Years for Remedial Investigation and Feasibility Study		10 years
Potential Responsible Parties \| Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Estimated Cost of Selected Remedy			$ 1,700,000,000
Estimated Cost of Selected Remedy, Discount			$ 1,050,000,000
Estimated Cost of Selected Remedy, Discount Rate			7.00%
Site Contingency, Estimated Time Frame to Remediate			13 years
Potential Responsible Parties \| Minimum \| Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Site Contingency, Least Costly Remediation Plan, Discount					170,000,000
Estimated Cost of Selected Remedy, Range			(30.00%)
Potential Responsible Parties \| Maximum \| Portland Harbor Superfund Site
Loss Contingencies [Line Items]
Site Contingency, Most Costly Remediation Plan, Discount					2,500,000,000
Estimated Cost of Selected Remedy, Range			50.00%
Steel Manufacturing Operations
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies					$ 0	$ 0
Permitted Annual Production Capacity \| T					950
Title V Permit, Renewal Period					5 years

Restructuring Charges and Other Exit-Related Activities (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Feb. 28, 2017	Feb. 28, 2017
Other Exit-Related Activity
Restructuring Cost and Reserve [Line Items]
Other Exit-Related Activities, Net Gain (YTD less than $1 million)	$ 1	$ 1

Changes in Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance - (Beginning of period)			$ 537,493	$ 501,432
Net income	$ 41,919	$ 11,699	61,140	10,991
Other comprehensive loss, net of tax	(109)	320	(1,736)	(779)
Reclassification of stranded tax effects of the Tax Act	1,000		517	0
Distributions to noncontrolling interests			$ (817)	$ (852)
Share repurchases			(3,601)	0
Restricted stock withheld for taxes			$ (2,888)	$ (3,301)
Share-based compensation			8,095	5,570
Purchase of noncontrolling interest			(600)	0
Dividends			(10,507)	(10,377)
Balance - February 28 (End of period)	587,096	502,684	587,096	502,684
SSI Shareholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance - (Beginning of period)			533,586	497,721
Net income			59,380	9,711
Other comprehensive loss, net of tax			(1,736)	(779)
Reclassification of stranded tax effects of the Tax Act			517	0
Distributions to noncontrolling interests			$ 0	$ 0
Share repurchases			(3,601)	0
Restricted stock withheld for taxes			$ (2,888)	$ (3,301)
Share-based compensation			8,095	5,570
Purchase of noncontrolling interest			(183)	0
Dividends			(10,507)	(10,377)
Balance - February 28 (End of period)	582,663	498,545	582,663	498,545
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance - (Beginning of period)			3,907	3,711
Net income			1,760	1,280
Other comprehensive loss, net of tax			0	0
Reclassification of stranded tax effects of the Tax Act			0	0
Distributions to noncontrolling interests			$ (817)	$ (852)
Share repurchases			0	0
Restricted stock withheld for taxes			$ 0	$ 0
Share-based compensation			0	0
Purchase of noncontrolling interest			(417)	0
Dividends			0	0
Balance - February 28 (End of period)	$ 4,433	$ 4,139	$ 4,433	$ 4,139

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward}
Balance - (Beginning of period)			$ 537,493	$ 501,432
Other comprehensive income (loss) before reclassifications	$ 117	$ 240	(1,777)	(745)
Income tax expense	0	0	227	(194)
Other comprehensive income before reclassifications, net of tax	117	240	(1,550)	(939)
Amounts reclassified from accumulated other comprehensive loss	77	125	140	250
Income tax benefit	(303)	(45)	(326)	(90)
Amounts reclassified from accumulated other comprehensive loss, net of tax	(226)	80	(186)	160
Total other comprehensive income (loss), net of tax	(109)	320	(1,736)	(779)
Balance - February 28 (End of period)	587,096	502,684	587,096	502,684
Foreign Currency Translation Adjustments
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward}
Balance - (Beginning of period)	(33,537)	(35,573)	(31,828)	(34,539)
Other comprehensive income (loss) before reclassifications	117	240	(1,592)	(794)
Income tax expense	0	0	0	0
Other comprehensive income before reclassifications, net of tax	117	240	(1,592)	(794)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Income tax benefit	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	0	0	0
Total other comprehensive income (loss), net of tax	117	240	(1,592)	(794)
Balance - February 28 (End of period)	(33,420)	(35,333)	(33,420)	(35,333)
Pension Obligations, net
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward}
Balance - (Beginning of period)	(3,383)	(5,641)	(3,465)	(5,576)
Other comprehensive income (loss) before reclassifications	0	0	(185)	49
Income tax expense	0	0	227	(194)
Other comprehensive income before reclassifications, net of tax	0	0	42	(145)
Amounts reclassified from accumulated other comprehensive loss	77	125	140	250
Income tax benefit	(303)	(45)	(326)	(90)
Amounts reclassified from accumulated other comprehensive loss, net of tax	(226)	80	(186)	160
Total other comprehensive income (loss), net of tax	(226)	80	(144)	15
Balance - February 28 (End of period)	(3,609)	(5,561)	(3,609)	(5,561)
AOCI Attributable to Parent
Increase (Decrease) In Accumulated Other Comprehensive Loss [Roll Forward}
Balance - (Beginning of period)	(36,920)	(41,214)	(35,293)	(40,115)
Balance - February 28 (End of period)	$ (37,029)	$ (40,894)	$ (37,029)	$ (40,894)

Share-Based Compensation (Details) $ in Millions	3 Months Ended
Share-Based Compensation (Details) $ in Millions	Feb. 28, 2018 USD ($) shares	Nov. 30, 2017 USD ($) company shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		252,865.00
Vesting term		5 years
Vesting percentage per year		20.00%
Shares granted, fair value \| $		$ 7
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		246,161
Performance Shares \| Total Shareholder Return (TSR)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		119,763.00
Shares granted, fair value \| $		$ 3
Total Shareholder Return Designated Peer Group \| company		16
Performance Shares \| Total Shareholder Return (TSR) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Awards Award Payouts Threshold		50.00%
Performance Shares \| Total Shareholder Return (TSR) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Awards Award Payouts Threshold		200.00%
Performance Shares \| Return on Capital Employed (ROCE)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		126,398.00
Shares granted, fair value \| $		$ 3
Performance period		3 years
Performance Shares \| Return on Capital Employed (ROCE) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Awards Award Payouts Threshold		50.00%
Performance Shares \| Return on Capital Employed (ROCE) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Awards Award Payouts Threshold		200.00%
Non-employee Directors \| Deferred Stock Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	20,748
Shares granted, fair value \| $	$ 1

Income Taxes Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes Narrative (Details) - USD ($) $ in Millions	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2019	Aug. 31, 2018
Income Tax Contingency [Line Items]
Federal statutory rate (35% Prior to Enactment of Tax Act)			35.00%	35.00%
Provisional benefit from Tax Act	$ (7)
Benefit from release of valuation allowance	$ (7)
Effective tax rate	(33.90%)	5.10%	(8.20%)	4.90%
Forecast
Income Tax Contingency [Line Items]
Federal statutory rate (35% Prior to Enactment of Tax Act)					21.00%	25.70%

Net Income Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Net Income Per Share (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Earnings Per Share [Abstract]
Income from continuing operations	$ 41,755	$ 11,794	$ 61,011	$ 11,139
Net income attributable to noncontrolling interests	(903)	(662)	(1,760)	(1,280)
Income from continuing operations attributable to SSI	40,852	11,132	59,251	9,859
Income (loss) from discontinued operations, net of tax	164	(95)	129	(148)
Net income attributable to SSI	$ 41,016	$ 11,037	$ 59,380	$ 9,711
Computation of shares:
Weighted average common shares outstanding, basic (in shares)	27,797,000	27,524,000	27,745,000	27,447,000
Incremental common shares attributable to dilutive performance share awards, DSUs, and RSUs (in shares)	1,008,000	340,000	992,000	367,000
Weighted average common shares outstanding, diluted (in shares)	28,805,000	27,864,000	28,737,000	27,814,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		238,767		220,624

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Corporate Joint Venture
Related Party Transaction [Line Items]
Purchases from joint ventures	$ 4	$ 3	$ 7	$ 6

Segment Information Segment Revenue Reconciliation to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Segment Reporting Information [Line Items]
Revenues	$ 559,443	$ 382,084	$ 1,042,722	$ 716,245
Auto and Metals Recycling
Segment Reporting Information [Line Items]
Revenues	442,729	309,961	836,024	578,099
Operating Segments \| Auto and Metals Recycling
Segment Reporting Information [Line Items]
Revenues	449,785	313,142	847,839	584,915
Operating Segments \| Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Revenues	116,714	72,123	206,698	138,146
Less: Intersegment revenues \| Auto and Metals Recycling
Segment Reporting Information [Line Items]
Revenues	$ (7,056)	$ (3,181)	$ (11,815)	$ (6,816)

Segment Information Segment Operating Income Reconciliation to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Segment Reporting Information [Line Items]
Operating income	$ 33,358	$ 14,171	$ 59,781	$ 14,758
Restructuring charges and other exit-related activities	(91)	494	(191)	293
Interest expense	(2,281)	(2,097)	(4,340)	(3,838)
Other income, net	101	357	950	794
Income from continuing operations before income taxes	31,178	12,431	56,391	11,714
Operating Segments
Segment Reporting Information [Line Items]
Operating income	50,545	24,009	94,193	33,987
Operating Segments \| Auto and Metals Recycling
Segment Reporting Information [Line Items]
Operating income	45,132	25,288	80,304	37,894
Operating Segments \| Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Operating income	5,413	(1,279)	13,889	(3,907)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Restructuring charges and other exit-related activities	(91)	494	(191)	293
Corporate and eliminations
Segment Reporting Information [Line Items]
Operating income	$ (17,096)	$ (10,332)	$ (34,221)	$ (19,522)

Segment Information Segment Assets Reconciliation to Consolidated (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 1,051,697	$ 933,755
Investments in joint ventures	11,454	11,204
Auto and Metals Recycling
Segment Reporting Information [Line Items]
Investments in joint ventures	4,000	5,000
Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Investments in joint ventures	7,000	7,000
Operating Segments
Segment Reporting Information [Line Items]
Assets	2,103,037	1,995,026
Operating Segments \| Auto and Metals Recycling
Segment Reporting Information [Line Items]
Assets	1,388,423	1,298,757
Operating Segments \| Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Assets	714,614	696,269
Corporate and eliminations
Segment Reporting Information [Line Items]
Assets	$ (1,051,340)	$ (1,061,271)

Segment Information Segment Information (Details)	9 Months Ended
Segment Information Segment Information (Details)	May 31, 2017 segment	Feb. 28, 2018 jointventureinterests
Segment Reporting Information [Line Items]
Number of Operating Segments \| segment	2
Auto and Metals Recycling
Segment Reporting Information [Line Items]
Number of Joint Venture Investments		3
Cascade Steel and Scrap
Segment Reporting Information [Line Items]
Number of Joint Venture Investments		1