Schnitzer Steel Industries, Inc. (SCHN) Financial Statements (2024 and earlier)

Company Profile

Business Address 299 SW CLAY ST.
PORTLAND, OR 97201
State of Incorp. OR
Fiscal Year End August 31
Industry (SIC) 509 - Miscellaneous Durable Goods (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

8/31/2023
Q4
5/31/2023
Q3
2/28/2023
Q2
11/30/2022
Q1
8/31/2022
Q4
5/31/2022
Q3
2/28/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,51111,4593,53943,80316,12517,823
Cash and cash equivalents4,51111,4593,53943,80316,12517,823
Short-term investments1,000     
Receivables298,298240,219213,642231,696279,285277,193
Inventory, net of allowances, customer advances and progress billings298,979286,733345,198315,189439,704323,931
Inventory298,979286,733345,198315,189439,704323,931
Other undisclosed current assets56,58755,07972,18580,69852,81140,358
Total current assets:659,375593,490634,564671,386787,925659,305
Noncurrent Assets
Operating lease, right-of-use asset118,399112,600117,806122,413127,311126,155
Property, plant and equipment697,396689,374682,738664,120629,104597,262
Long-term investments and receivables10,12011,68111,24612,84113,46113,009
Long-term investments10,12011,68111,24612,84113,46113,009
Intangible assets, net (including goodwill)302,650304,067305,789281,353280,710255,757
Goodwill268,595268,497270,349255,198254,511232,537
Intangible assets, net (excluding goodwill)34,05535,57035,44026,15526,19923,220
Deferred income tax assets22,69522,25423,10524,59824,98825,982
Other noncurrent assets55,79347,62947,37149,88648,94246,859
Total noncurrent assets:1,207,0531,187,6051,188,0551,155,2111,124,5161,065,024
TOTAL ASSETS:1,866,4281,781,0951,822,6191,826,5971,912,4411,724,329
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities303,554285,592270,171404,399341,535286,864
Taxes payable3,85610,1402,436
Employee-related liabilities59,70256,68133,693
Accounts payable209,795212,598185,170217,689223,816191,418
Accrued liabilities93,75972,99485,001123,15250,89859,317
Debt6,7246,5276,3796,0415,7647,451
Accrued environmental loss contingencies11,5218,49510,91913,03111,60012,987
Other undisclosed current liabilities20,35720,60121,538(41,898)21,96421,869
Total current liabilities:342,156321,215309,007381,573380,863329,171
Noncurrent Liabilities
Long-term debt and lease obligation, including:344,084303,552351,200242,521316,108254,126
Finance lease, liability   4,158  
Other undisclosed long-term debt and lease obligation344,084303,552351,200136,712209,363147,323
Liabilities, other than long-term debt240,596227,890233,908143,378140,855129,580
Deferred compensation liability, classified    1,000  
Deferred income tax liabilities61,76155,96857,02863,32862,13353,291
Accrued environmental loss contingencies54,34054,98055,06655,46954,95054,844
Other liabilities26,32023,86824,27823,58123,77221,445
Operating lease, liability98,17593,07497,536101,651106,745106,803
Other undisclosed noncurrent liabilities    100,651106,745106,803
Total noncurrent liabilities:584,680531,442585,108486,550563,708490,509
Total liabilities:926,836852,657894,115868,123944,571819,680
Equity
Equity, attributable to parent, including:936,012924,947924,739953,979963,688900,792
Additional paid in capital23,28720,83118,58222,97534,42640,821
Accumulated other comprehensive loss(40,185)(40,605)(39,302)(37,089)(34,245)(34,438)
Retained earnings925,399917,266918,094941,146936,060866,776
Other undisclosed equity, attributable to parent27,51127,45527,36526,94727,44727,633
Equity, attributable to noncontrolling interest3,5803,4913,7654,4954,1823,857
Total equity:939,592928,438928,504958,474967,870904,649
TOTAL LIABILITIES AND EQUITY:1,866,4281,781,0951,822,6191,826,5971,912,4411,724,329

Income Statement (P&L) ($ in thousands)

8/31/2023
Q4
5/31/2023
Q3
2/28/2023
Q2
11/30/2022
Q1
8/31/2022
Q4
5/31/2022
Q3
2/28/2022
Q2
Revenues809,610755,953598,730894,4121,010,087783,198
Cost of revenue
(Cost of Goods and Services Sold)
(713,685)(682,937)(550,011)(809,587)(834,375)(670,539)
Gross profit:95,92573,01648,71984,825175,712112,659
Operating expenses(68,527)(63,957)(64,228)(69,237)(77,672)(61,081)
Other undisclosed operating income (loss)116(517)(802)488(196)587
Operating income (loss):27,5148,542(16,311)16,07697,84452,165
Nonoperating expense
(Other Nonoperating expense)
(1,306)(99)(3,884)(556)(34)(55)
Interest and debt expense(5,146)(4,908)(3,324)(3,042)(2,223)(1,901)
Income (loss) from continuing operations before income taxes:21,0623,535(23,519)12,47895,58750,209
Income tax expense (benefit)(7,221)5136,032(1,390)(20,037)(12,073)
Income (loss) from continuing operations:13,8414,048(17,487)11,08875,55038,136
Income before gain (loss) on sale of properties:11,05175,50438,165
Income (loss) from discontinued operations(233)224(69)(37)(46)29
Net income (loss):13,6084,272(17,556)11,05175,50438,165
Net income (loss) attributable to noncontrolling interest(148)81(232)(699)(870)(550)
Net income (loss) available to common stockholders, diluted:13,4604,353(17,788)10,35274,63437,615

Comprehensive Income ($ in thousands)

8/31/2023
Q4
5/31/2023
Q3
2/28/2023
Q2
11/30/2022
Q1
8/31/2022
Q4
5/31/2022
Q3
2/28/2022
Q2
Net income (loss):13,6084,272(17,556)11,05175,50438,165
Other comprehensive income (loss)420(1,303)(2,213)(2,844)193841
Comprehensive income (loss):14,0282,969(19,769)8,20775,69739,006
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(148)81(232)(699)(870)(550)
Comprehensive income (loss), net of tax, attributable to parent:13,8803,050(20,001)7,50874,82738,456

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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