54 / Schnitzer Steel Industries, Inc. Form 10-K 2021 SCHNITZER STEEL INDUSTRIES, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Currency – U.S. Dollar) August 31, 2021 2020 Assets Current assets: Cash and cash equivalents $ 27,818 $ 17,887 Accounts receivable, net 214,098 139,147 Inventories 256,427 157,269 Refundable income taxes 837 18,253 Prepaid expenses and other current assets 43,934 30,075 Total current assets 543,114 362,631 Property, plant and equipment, net 562,674 487,004 Operating lease right-of-use assets 131,221 140,584 Investments in joint ventures 12,844 10,057 Goodwill 170,304 169,627 Intangibles, net 3,980 4,585 Deferred income taxes 27,561 27,152 Other assets 42,665 28,287 Total assets $ 1,494,363 $ 1,229,927 Liabilities and Equity Current liabilities: Short-term borrowings $ 3,654 $ 2,184 Accounts payable 179,917 106,676 Accrued payroll and related liabilities 69,622 41,436 Environmental liabilities 24,743 6,302 Operating lease liabilities 21,417 19,760 Accrued income taxes 3,521 — Other accrued liabilities 49,976 47,306 Total current liabilities 352,850 223,664 Deferred income taxes 40,593 38,292 Long-term debt, net of current maturities 71,299 102,235 Environmental liabilities, net of current portion 52,385 47,162 Operating lease liabilities, net of current maturities 113,165 125,001 Other long-term liabilities 24,292 13,137 Total liabilities 654,584 549,491 Commitments and contingencies (Note 9) Schnitzer Steel Industries, Inc. (“SSI”) shareholders’ equity: Preferred stock – 20,000 shares $1.00 par value authorized, none issued — — Class A common stock – 75,000 shares $1.00 par value authorized, 27,332 and 26,899 shares issued and outstanding 27,332 26,899 Class B common stock – 25,000 shares $1.00 par value authorized, 200 and 200 shares issued and outstanding 200 200 Additional paid-in capital 49,074 36,616 Retained earnings 793,712 649,863 Accumulated other comprehensive loss (34,554) (36,871) Total SSI shareholders’ equity 835,764 676,707 Noncontrolling interests 4,015 3,729 Total equity 839,779 680,436 Total liabilities and equity $ 1,494,363 $ 1,229,927 See Notes to the Consolidated Financial Statements.
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