SCHN 2017 Annual Report

56 / Schnitzer Steel Industries, Inc. Form 10-K 2017 SCHNITZER STEEL INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF EQUITY (in thousands) Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Loss Total SSI Shareholders’ Equity Noncontrolling Interests Total Equity Class A Class B Shares Amount Shares Amount Balance as of August 31, 2014 26,384 $ 26,384 306 $ 306 $ 19,164 $ 737,571 $ (12,641) $ 770,784 $ 5,193 $ 775,977 Net income (loss) — — — — — (197,009) — (197,009) 1,933 (195,076) Other comprehensive loss, net of tax — — — — — — (25,881) (25,881) — (25,881) Distributions to noncontrolling interests — — — — — — — — (3,110) (3,110) Share repurchases (68) (68) — — (1,279) — — (1,347) — (1,347) Restricted stock withheld for taxes (92) (92) — — (1,905) — — (1,997) — (1,997) Issuance of restricted stock 250 250 — — (250) — — — — — Share-based compensation expense — — — — 10,481 — — 10,481 — 10,481 Cash dividends — — — — — (20,496) — (20,496) — (20,496) Balance as of August 31, 2015 26,474 26,474 306 306 26,211 520,066 (38,522) 534,535 4,016 538,551 Net income (loss) — — — — — (19,409) — (19,409) 1,821 (17,588) Other comprehensive loss, net of tax — — — — — — (1,593) (1,593) — (1,593) Distributions to noncontrolling interests — — — — — — — — (2,126) (2,126) Share repurchases (203) (203) — — (3,276) — — (3,479) — (3,479) Restricted stock withheld for taxes (132) (132) — — (2,081) — — (2,213) — (2,213) Issuance of restricted stock 343 343 — — (343) — — — — — Share-based compensation expense — — — — 10,437 — — 10,437 — 10,437 Cash dividends — — — — — (20,557) — (20,557) — (20,557) Balance as of August 31, 2016 26,482 26,482 306 306 30,948 480,100 (40,115) 497,721 3,711 501,432 Net income — — — — — 44,511 — 44,511 2,467 46,978 Other comprehensive income, net of tax — — — — — — 4,822 4,822 — 4,822 Distributions to noncontrolling interests — — — — — — — — (2,271) (2,271) Conversion of common stock 106 106 (106) (106) — — — — — — Restricted stock withheld for taxes (148) (148) — — (3,326) — — (3,474) — (3,474) Issuance of restricted stock 419 419 — — (419) — — — — — Share-based compensation expense — — — — 10,847 — — 10,847 — 10,847 Cash dividends — — — — — (20,841) — (20,841) — (20,841) Balance as of August 31, 2017 26,859 $ 26,859 200 $ 200 $ 38,050 $ 503,770 $ (35,293) $ 533,586 $ 3,907 $ 537,493 See Notes to the Consolidated Financial Statements.