49 / Schnitzer Steel Industries, Inc. Form 10-K 2021 Following are reconciliations of adjusted income (loss) from continuing operations attributable to SSI shareholders and adjusted diluted earnings (loss) per share from continuing operations attributable to SSI shareholders (in thousands, except per share data): Year Ended August 31, 2021 2020 2019 Income (loss) from continuing operations attributable to SSI shareholders: As reported $ 165,191 $ (4,050) $ 56,593 Charges for legacy environmental matters, net(1) 13,773 4,097 2,419 Business development costs 2,155 1,619 — Restructuring charges and other exit-related activities 1,008 8,993 365 Charges related to legal settlements(2) 400 73 2,330 Asset impairment charges, net — 5,729 63 Income tax benefit allocated to adjustments(3) (3,712) (4,494) (794) Adjusted $ 178,815 $ 11,967 $ 60,976 Diluted earnings (loss) per share from continuing operations attributable to SSI shareholders: As reported $ 5.66 $ (0.15) $ 2.01 Charges for legacy environmental matters, net, per share(1) 0.47 0.15 0.09 Business development costs, per share 0.07 0.06 — Restructuring charges and other exit-related activities, per share 0.03 0.32 0.01 Charges related to legal settlements, per share(2) 0.01 — 0.08 Asset impairment charges, net, per share — 0.21 — Income tax benefit allocated to adjustments, per share(3) (0.13) (0.16) (0.03) Adjusted(4) $ 6.13 $ 0.43 $ 2.16 (1) Legal and environmental charges, net of recoveries, for legacy environmental matters including those related to the Portland Harbor Superfund site and to other legacy environmental loss contingencies. See Note 9 - Commitments and Contingencies, "Portland Harbor" and "Other Legacy Environmental Loss Contingencies" in the Notes to the Consolidated Financial Statements in Part II, Item 8 of this report. (2) Charges related to legal settlements in fiscal 2021 relate to a claim by a utility provider for past charges, and in fiscal 2020 and fiscal 2019 relate to the settlement of a wage and hour class action lawsuit. (3) Income tax allocated to the aggregate adjustments reconciling reported and adjusted income (loss) from continuing operations attributable to SSI shareholders and diluted earnings (loss) per share from continuing operations attributable to SSI shareholders is determined based on a tax provision calculated with and without the adjustments. (4) May not foot due to rounding.
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