55 / Schnitzer Steel Industries, Inc. Form 10-K 2021 SCHNITZER STEEL INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Currency – U.S. Dollar) Year Ended August 31, 2021 2020 2019 Revenues $ 2,758,551 $ 1,712,343 $ 2,132,781 Operating expense: Cost of goods sold 2,305,357 1,503,725 1,858,535 Selling, general and administrative 242,463 187,876 191,405 (Income) from joint ventures (4,006) (834) (1,452) Asset impairment charges, net — 5,729 63 Restructuring charges and other exit-related activities 1,008 8,993 365 Operating income 213,729 6,854 83,865 Interest expense (5,285) (8,669) (8,266) Other (expense) income, net (455) (124) 641 Income (loss) from continuing operations before income taxes 207,989 (1,939) 76,240 Income tax expense (37,935) (166) (17,670) Income (loss) from continuing operations 170,054 (2,105) 58,570 Loss from discontinued operations, net of tax (79) (95) (248) Net income (loss) 169,975 (2,200) 58,322 Net income attributable to noncontrolling interests (4,863) (1,945) (1,977) Net income (loss) attributable to SSI shareholders $ 165,112 $ (4,145) $ 56,345 Net income (loss) per share attributable to SSI shareholders: Basic: Income (loss) per share from continuing operations $ 5.90 $ (0.15) $ 2.06 Net income (loss) per share $ 5.90 $ (0.15) $ 2.05 Diluted: Income (loss) per share from continuing operations $ 5.66 $ (0.15) $ 2.01 Net income (loss) per share $ 5.66 $ (0.15) $ 2.00 Weighted average number of common shares: Basic 27,982 27,672 27,527 Diluted 29,193 27,672 28,222 See Notes to the Consolidated Financial Statements.
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