Related Party Transactions |
12 Months Ended |
|---|---|
May 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
In connection with the Separation, we entered into several agreements with Worthington Steel that govern our ongoing relationships, including a Trademark License Agreement, both a short-term and long-term Transition Services Agreement, and a Steel Supply and Services Agreement.
Pursuant to the Steel Supply and Services Agreement, Worthington Steel manufactures and supplies to us, at reasonable market rates, certain flat rolled steel products, and will provide us with certain related support services such as design, engineering/technical services, price risk management, scrap management, steel purchasing, supply chain optimization and product rework services, and other services at our request that are ancillary to the supply of the flat rolled steel products. Purchases from Worthington Steel under this agreement for fiscal 2026 and fiscal 2025 totaled $137,077 and $113,400, respectively. Accounts payable related to these purchases were $6,904 and $9,099 as of May 31, 2026 and May 31, 2025, respectively.
We incurred direct and incremental costs associated with the Separation, including approximately $31,226 during fiscal 2024, of which $18,521 was attributed to discontinued operations. These costs consisted primarily of third-party advisory fees and certain non-recurring employee-related costs and, to the extent not attributed to Worthington Steel, are presented as a separate component of operating expense in our consolidated statements of earnings and held at the corporate level. |