DERIVATIVES AND RISK MANAGEMENT (Tables)

12 Months Ended

Aug. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives Not Designated as Hedging Instruments

The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the consolidated statements of earnings:

		Year Ended August 31,
Derivatives Not Designated as Hedging Instruments (in thousands)	Location	2015		2014			2013
Commodity	Cost of goods sold	$	7,746	$	2,504		$	2,456
Foreign exchange	Net sales	3,016		473			—
Foreign exchange	Cost of goods sold	4,996		(1,078		)	—
Foreign exchange	SG&A expenses	23,105		(4,135		)	5,089
Other	Cost of goods sold	—		—			9
Gain (loss) before income taxes		$	38,863	$	(2,236	)	$	7,554

Derivatives Designated as Fair Value Hedging Instruments

Derivatives Designated as Fair Value Hedging Instruments (in thousands)		Year Ended August 31,
	Location	2015			2014			2013
Foreign exchange	Net sales	$	(105	)	$	93		$	(151	)
Foreign exchange	Cost of goods sold	881			(1,465		)	2,241
Gain (loss) before income taxes		$	776		$	(1,372	)	$	2,090

Hedged Items Designated as Fair Value Hedging Instruments

Hedged Items Designated as Fair Value Hedging Instruments (in thousands)		Year Ended August 31,
	Location	2015			2014			2013
Foreign exchange	Net sales	$	105		$	(91	)	$	153
Foreign exchange	Cost of goods sold	(881		)	1,469			(2,241		)
Gain (loss) before income taxes		$	(776	)	$	1,378		$	(2,088	)

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss)

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) (in thousands)	August 31,
	2015			2014			2013
Commodity	$	(635	)	$	(54	)	$	(218	)
Foreign exchange	(1,832		)	(1,794		)	439
Gain (loss), net of income taxes	$	(2,467	)	$	(1,848	)	$	221

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss)

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss) (in thousands)		Year Ended August 31,
	Location	2015			2014			2013
Commodity	Cost of  goods sold	$	(665	)	$	(160	)	$	(260	)
Foreign exchange	Net sales	124			(213		)	73
Foreign exchange	Cost of goods sold	(2,774		)	(1,717		)	18
Foreign exchange	SG&A expenses	76			53			17
Interest rate	Interest expense	532			532			617
Gain (loss) before income taxes		(2,707		)	(1,505		)	465
Income tax (expense) benefit	Income taxes	949			237			(128		)
Gain (loss), net of income taxes		$	(1,758	)	$	(1,268	)	$	337

Derivative Assets

The fair value of the Company's derivative instruments on the consolidated balance sheets was as follows:

Derivative Assets (in thousands)	August 31,
	2015		2014
Commodity — designated for hedge accounting	$	19	$	42
Commodity — not designated for hedge accounting	846		869
Foreign exchange — designated for hedge accounting	1,500		136
Foreign exchange — not designated for hedge accounting	3,088		1,853
Derivative assets (other current assets)*	$	5,453	$	2,900

Derivative Liabilities

Derivative Liabilities (in thousands)	August 31,
	2015		2014
Commodity — designated for hedge accounting	$	129	$	6
Commodity — not designated for hedge accounting	537		162
Foreign exchange — designated for hedge accounting	874		325
Foreign exchange — not designated for hedge accounting	1,263		1,010
Derivative liabilities (accrued expenses and other payables)*	$	2,803	$	1,503

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* Derivative assets and liabilities do not include the hedged items designated as fair value hedges.