DERIVATIVES AND RISK MANAGEMENT (Tables)

12 Months Ended

Aug. 31, 2017

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	2017			2016		2015
Commodity	Cost of goods sold	$	(9,095	)	$	2,675	$	7,746
Foreign exchange	Net sales	—			—		3,005
Foreign exchange	Cost of goods sold	(47		)	19		4,996
Foreign exchange	SG&A expenses	(5,400		)	11,732		23,105
Gain (loss) from continuing operations before income taxes		$	(14,542	)	$	14,426	$	38,852

Derivatives Designated as Fair Value Hedging Instruments

		Amount of gain (loss) recognized in income on derivatives for the year ended August 31,										Amount of gain (loss) recognized in income on related hedge items for the year ended August 31,
	Location of gain (loss) recognized in income on derivatives	2017			2016			2015			Location of gain (loss) recognized in income on related hedged items	2017			2016		2015
Foreign exchange	Net sales	$	25		$	(38	)	$	(236	)	Net sales	$	(25	)	$	38	$	236
Foreign exchange	Cost of goods sold	(1,436		)	(1,075		)	888			Cost of goods sold	1,436			1,075		(888		)
Gain (loss) from continuing operations before income taxes		$	(1,411	)	$	(1,113	)	$	652			$	1,411		$	1,113	$	(652	)

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,
	2017		2016			2015
Commodity	$	210	$	(204	)	$	(635	)
Foreign exchange	546		1,822			(1,832		)
Gain (loss), net of income taxes	$	756	$	1,618		$	(2,467	)

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,
	2017		2016
Commodity — not designated for hedge accounting	$	767	$	584
Foreign exchange — designated for hedge accounting	81		1,398
Foreign exchange — not designated for hedge accounting	1,286		750
Derivative assets (other current assets)*	$	2,134	$	2,732
Commodity — designated for hedge accounting	$	—	$	4
Derivative assets (assets held for sale - current)*	$	—	$	4

Derivative Liabilities

Derivative Liabilities (in thousands)	August 31,
	2017		2016
Commodity — not designated for hedge accounting	3,251		117
Foreign exchange — designated for hedge accounting	1,549		902
Foreign exchange — not designated for hedge accounting	3,710		1,161
Derivative liabilities (accrued expenses and other payables)*	$	8,510	$	2,180
Commodity — designated for hedge accounting	$	—	$	5
Derivative liabilities (liabilities held for sale - current)*	$	—	$	5

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