INVESTMENTS

12 Months Ended

Aug. 31, 2022

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTSThe Company invests a portion of its excess cash balances in short-term debt securities. Investments at August 31, 2022, consisted of corporate bonds and term deposits with maturities remaining of less than 12 months. The Company may also invest excess cash balances in certificates of deposits, money market accounts, government-sponsored enterprise securities, and/or commercial paper. The Company accounts for its investments in accordance with ASC 320, Investments – Debt and Equity Securities. As of August 31, 2022, all investments were classified as held-to-maturity securities, as the Company has the positive intent and ability to hold these securities until maturity. The Company believes unrealized losses on investments were primarily caused by rising interest rates rather than changes in credit quality and accordingly has not recorded an allowance for credit losses on its debt securities as of August 31, 2022, and 2021.

The following tables summarize the Company’s short-term investments as of August 31, 2022, and 2021:

	August 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Commercial notes (due within one year)	$	72,168	$	—	$	(839)	$	71,329
Term deposits (due within one year)	4,500						4,500
Total	$	76,668	$	—	$	(839)	$	75,829

	August 31, 2021
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Commercial notes (due within one year)	$	86,620	$	—	$	(136)	$	86,484
Total	$	86,620	$	—	$	(136)	$	86,484