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Employees' Retirement Plans
12 Months Ended
Aug. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Employees’ retirement plans
NOTE 16. EMPLOYEES’ RETIREMENT PLANS
Substantially all employees in the U.S. are covered by a defined contribution profit sharing and savings plan. This tax qualified plan is maintained and contributions made in accordance with ERISA. The Company also provides certain eligible executives’ benefits pursuant to a nonqualified benefit restoration plan (“BRP Plan”) equal to amounts that would have been available under the tax qualified ERISA plans, but for limitations of ERISA, tax laws and regulations. Company expenses, which are discretionary, for these plans were $13.0 million, $14.1 million and $19.4 million for 2012, 2011 and 2010, respectively.
The deferred compensation liability under the BRP Plan was $77.0 million and $81.2 million at August 31, 2012 and 2011, respectively, and recorded in other long-term liabilities. Though under no obligation to fund the plan, the Company has segregated assets in a trust with a current value at August 31, 2012 and 2011 of $52.9 million and $49.4 million, respectively, recorded in other long-term assets. The net holding gain on these segregated assets was $5.3 million, $6.5 million and $3.2 million for the years ended August 31, 2012, 2011 and 2010, respectively.
A certain number of employees, primarily outside of the U.S., participate in defined benefit plans maintained in accordance with local regulations. Company expenses for these plans were $2.2 million, $3.2 million and $2.4 million for the years ended August 31, 2012, 2011 and 2010, respectively. The Company provides post retirement defined benefits to employees at certain divisions and recognizes the unfunded status of defined benefit plans as a liability with a corresponding reduction to accumulated other comprehensive income, net of taxes. At August 31, 2012 and 2011, the Company’s liability related to the unfunded status of the defined benefit plans was $5.1 million and $8.6 million, respectively.