DERIVATIVES (Tables)

3 Months Ended

9 Months Ended

May 31, 2024

May 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity contract commitments

The following table provides information regarding the Company's commodity contract commitments at May 31, 2024:

Commodity	Position	Total
Aluminum	Long	3,350	MT
Aluminum	Short	1,525	MT
Copper	Long	771	MT
Copper	Short	11,385	MT
Electricity	Long	3,153,000	MW(h)
Natural Gas	Long	5,210,650	MMBtu

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MT = Metric ton

MW(h) = Megawatt hour

MMBtu = Metric Million British thermal unit

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table summarizes the location and amounts of the fair value of the Company's derivative instruments reported in the condensed consolidated balance sheets:

(in thousands)	Primary Location	May 31, 2024		August 31, 2023
Derivative assets:
Commodity	Prepaid and other current assets	$	10,054	$	11,427
Commodity	Other noncurrent assets	41,044		184,261
Foreign exchange	Prepaid and other current assets	1,720		1,898
Derivative liabilities:
Commodity	Accrued expenses and other payables	$	10,160	$	2,983
Commodity	Other noncurrent liabilities	528		1,085
Foreign exchange	Accrued expenses and other payables	794		2,566

The decrease in fair value of the Company's commodity derivatives reported within other noncurrent assets is primarily due to the decrease in the value of a significant input used to measure the fair value of the Company's Level 3 commodity derivatives at May 31, 2024 as compared to August 31, 2023. See Note 9, Fair Value, for further discussion of the measurement of the fair value of the Company's Level 3 commodity derivatives.

Derivative instruments, gain (loss)

The following table summarizes activities related to the Company's derivatives not designated as hedging instruments recognized in the condensed consolidated statements of earnings. All other activity related to the Company's derivatives not designated as hedging instruments was immaterial for the periods presented.

Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)		Three Months Ended May 31,				Nine Months Ended May 31,
	Primary Location	2024		2023		2024		2023
Commodity	Cost of goods sold	$	(19,667)	$	7,540	$	(18,957)	$	(1,540)
Foreign exchange	SG&A expenses	2,141		3,686		6,123		10,095

The following tables summarize activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the condensed consolidated statements of comprehensive income and condensed consolidated statements of earnings. Amounts presented do not include the effects of foreign currency translation adjustments.

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI, Net of Income Taxes (in thousands)	Three Months Ended May 31,				Nine Months Ended May 31,
	2024		2023		2024		2023
Commodity	$	(29,567)	$	(11,855)	$	(120,451)	$	80,134
Foreign exchange	8		7		23		20

Gain (Loss) on Derivatives Designated as Cash Flow Hedging Instruments Reclassified from AOCI into Net Earnings (in thousands)		Three Months Ended May 31,				Nine Months Ended May 31,
	Primary Location	2024		2023		2024		2023
Commodity	Cost of goods sold	$	(797)	$	256	$	1,104	$	9,872
Foreign exchange	SG&A expenses	63		63		185		183