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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
9 Months Ended
May 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of accumulated other comprehensive income (loss)
The following tables reflect the changes in accumulated other comprehensive income (loss) ("AOCI"):
 
 
Three Months Ended May 31, 2017
(in thousands)
 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Derivatives
 
Defined Benefit Obligation
 
Total AOCI
Balance, February 28, 2017
 
$
(124,235
)
 
$
2,108

 
$
(2,863
)
 
$
(124,990
)
Other comprehensive income before reclassifications
 
27,109

 
368

 

 
27,477

Amounts reclassified from AOCI
 
968

 
(459
)
 
(11
)
 
498

Income taxes
 

 
12

 
2

 
14

Net other comprehensive income (loss)
 
28,077

 
(79
)
 
(9
)
 
27,989

Balance, May 31, 2017
 
$
(96,158
)
 
$
2,029

 
$
(2,872
)
 
$
(97,001
)

 
 
Nine Months Ended May 31, 2017
(in thousands)
 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Derivatives
 
Defined Benefit Obligation
 
Total AOCI
Balance, August 31, 2016
 
$
(112,255
)
 
$
2,186

 
$
(2,845
)
 
$
(112,914
)
Other comprehensive income before reclassifications
 
15,129

 
926

 

 
16,055

Amounts reclassified from AOCI
 
968

 
(1,090
)
 
(33
)
 
(155
)
Income taxes
 

 
7

 
6

 
13

Net other comprehensive income (loss)
 
16,097

 
(157
)
 
(27
)
 
15,913

Balance, May 31, 2017
 
$
(96,158
)
 
$
2,029

 
$
(2,872
)
 
$
(97,001
)

 
 
Three Months Ended May 31, 2016
(in thousands)
 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Derivatives
 
Defined Benefit Obligation
 
Total AOCI
Balance, February 29, 2016
 
$
(130,865
)
 
$
2,616

 
$
(2,762
)
 
$
(131,011
)
Other comprehensive income (loss) before reclassifications
 
3,817

 
(16
)
 

 
3,801

Amounts reclassified from AOCI
 

 
21

 
(2
)
 
19

Income taxes
 

 
11

 

 
11

Net other comprehensive income (loss)
 
3,817

 
16

 
(2
)
 
3,831

Balance, May 31, 2016
 
$
(127,048
)
 
$
2,632

 
$
(2,764
)
 
$
(127,180
)

 
 
Nine Months Ended May 31, 2016
(in thousands)
 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Derivatives
 
Defined Benefit Obligation
 
Total AOCI
Balance, August 31, 2015
 
$
(113,081
)
 
$
2,305

 
$
(2,759
)
 
$
(113,535
)
Other comprehensive income (loss) before reclassifications
 
(13,967
)
 
543

 

 
(13,424
)
Amounts reclassified from AOCI
 

 
(230
)
 
(6
)
 
(236
)
Income taxes
 

 
14

 
1

 
15

Net other comprehensive income (loss)
 
(13,967
)
 
327

 
(5
)
 
(13,645
)
Balance, May 31, 2016
 
$
(127,048
)
 
$
2,632

 
$
(2,764
)
 
$
(127,180
)
Schedule of reclassification out of accumulated other comprehensive income (loss)
The significant items reclassified out of AOCI and the corresponding line items in the unaudited condensed consolidated statements of earnings to which the items were reclassified were as follows:
 
 
 
 
Three Months Ended May 31,
 
Nine Months Ended May 31,
Components of AOCI (in thousands)
 
Location
 
2017
 
2016
 
2017
 
2016
Foreign currency translation adjustment:
 
 
 
 
 
 
 
 
 
 
Translation loss realized upon liquidation of investment in foreign entity
 
SG&A expenses
 
$
968

 
$

 
$
968

 
$

Unrealized gain (loss) on derivatives:
 

 
 
 
 
 


 
 
Commodity
 
Cost of goods sold
 
$
94

 
$
(263
)
 
$
(31
)
 
$
(373
)
Foreign exchange
 
Net sales
 
124

 
(168
)
 
368

 
(561
)
Foreign exchange
 
Cost of goods sold
 
19

 
223

 
(25
)
 
641

Foreign exchange
 
SG&A expenses
 
88

 
53

 
378

 
123

Interest rate
 
Interest expense
 
134

 
134

 
400

 
400

 
 
 
 
459

 
(21
)
 
1,090

 
230

Income tax effect
 
Income taxes
 
(126
)
 
(11
)
 
(237
)
 
(88
)
Net of income taxes
 
 
 
$
333

 
$
(32
)
 
$
853

 
$
142

Defined benefit obligation:
 

 
 
 
 
 
 
 
 
Amortization of prior services
 
SG&A expenses
 
$
11

 
$
2

 
$
33

 
$
6

Income tax effect
 
Income taxes
 
(2
)
 

 
(6
)
 
(1
)
Net of income taxes
 

 
$
9

 
$
2

 
$
27

 
$
5

Amounts in parentheses reduce earnings.