Worthington Steel, Inc.

For the period ended May 31, 2026. Filed Jul 30, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2026 · Filed Jul 30, 2026

WS$39.37+1.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Balance Sheets

CONSOLIDATED BALANCE SHEETS

(In millions, except share amounts)

	May 31,
	2026	2025
ASSETS
Current assets:
Cash and cash equivalents	$84.6	$38.0
Restricted cash	-	54.9
Receivables, less allowances of $1.1 and $3.8, respectively	496.2	438.7
Inventories:
Raw materials	168.5	179.4
Work in process	145.9	165.6
Finished products	101.3	77.0
Total inventories	415.7	422.0
Income taxes receivable	14.3	0.1
Assets held for sale	9.1	11.5
Prepaid expenses and other current assets	110.0	83.3
Total current assets	1,129.9	1,048.5
Investment in unconsolidated affiliate	123.4	126.6
Operating lease right-of-use assets	77.8	72.6
Finance lease right-of-use assets, net of accumulated amortization of $4.4 and $–, respectively	7.5	-
Goodwill	44.5	79.6
Other intangible assets, net of accumulated amortization of $65.9 and $50.3, respectively	77.3	67.9
Deferred income taxes	12.7	11.4
Equity securities	122.2	-
Other assets	7.8	7.0
Property, plant and equipment:
Land	57.2	38.6
Buildings and improvements	272.5	190.4
Machinery and equipment	1,065.0	942.6
Construction in progress	105.9	132.7
Total property, plant and equipment	1,500.6	1,304.3
Less: accumulated depreciation	851.3	756.1
Total property, plant and equipment, net	649.3	548.2
Total assets	$2,252.4	$1,961.8

CONSOLIDATED BALANCE SHEETS

(In millions, except share amounts)

	May 31,
	2026	2025
LIABILITIES, MEZZANINE EQUITY AND EQUITY
Current liabilities:
Accounts payable	$424.0	$402.5
Short-term borrowings	185.4	149.2
Accrued compensation, contributions to employee benefit plans and related taxes	60.0	43.0
Dividends payable	9.2	9.3
Other accrued items	56.2	15.3
Current operating lease liabilities	10.4	7.7
Current finance lease liabilities	2.9	-
Income taxes payable	0.7	4.5
Current maturities of long-term debt	27.0	-
Total current liabilities	775.8	631.5
Other liabilities	51.5	32.8
Long-term debt	44.4	2.3
Noncurrent operating lease liabilities	78.7	68.7
Noncurrent finance lease liabilities	5.5	-
Deferred income taxes	33.6	28.6
Total liabilities	989.5	763.9
Mezzanine equity:
Redeemable noncontrolling interest (“Redeemable NCI”)	65.3	-
Total mezzanine equity	65.3	-
Shareholders’ equity - controlling interest:
Preferred shares, without par value; authorized – 1,000,000 shares; no shares issued or outstanding	-	-
Common shares, without par value; authorized – 150,000,000 shares; issued and outstanding 49,920,298 shares and 49,548,895 shares, respectively	-	-
Additional Paid-in Capital (“APIC”)	919.4	913.9
Retained earnings	140.0	164.2
Accumulated other comprehensive income (loss), net of taxes of $(2.3) and $(2.0), respectively	3.9	(4.0)
Total shareholders’ equity – controlling interest	1,063.3	1,074.1
Noncontrolling interests (“NCI”)	134.3	123.8
Total equity	1,197.6	1,197.9
Total liabilities, mezzanine equity and equity	$2,252.4	$1,961.8

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.