The following table summarizes the financial results from the discontinued operations of Worthington Steel for fiscal 2024. There were no discontinued operations for fiscal 2025 or fiscal 2026.


Net sales	$	1,670,027
Cost of goods sold		1,481,731
Gross profit		188,296
Selling, general and administrative expense		74,908
Impairment of long-lived assets		1,401
Separation costs		18,521
Operating income		93,466
Other income (expense)
Miscellaneous income, net		1,016
Interest expense, net		(3,706	)
Equity in net income of unconsolidated affiliate		12,735
Earnings before income taxes		103,511
Income tax expense		20,670
Net earnings		82,841
Net earnings attributable to noncontrolling interest		7,460
Net earnings attributable to controlling interest	$	75,381

As permitted under GAAP, the cash flows of Worthington Steel have not been segregated in our consolidated statements of cash flows in the periods prior to the Separation. Accordingly, our consolidated statements of cash flows in periods prior to the Separation do not agree to the respective balance sheet changes, which reflect the reclassification of Worthington Steel as a discontinued operation.

The following table summarizes significant non-cash operating items and capital expenditures related to discontinued operations as presented in the consolidated statements of cash flows for fiscal 2024. There were no discontinued operations during fiscal year 2025 or fiscal year 2026.


Significant non-cash operating items:
Depreciation and amortization	$	32,043
Impairment of long-lived assets		1,401
Equity in income of unconsolidated affiliate, net of distributions		(12,735	)
Net gain on sale of asset		(412	)
Stock-based compensation		3,533
Significant investing activities:
Investment in property, plant and equipment		(33,457	)
Acquisitions, net of cash acquired		(21,013	)
Significant financing activities:
Net proceeds from short-term borrowings		172,187