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Fair Value
 3 Months Ended
Nov. 30, 2011
Fair Value [Abstract]  
FAIR VALUE

NOTE 10 — FAIR VALUE

The Company has established a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three levels. These levels are determined based on the lowest level input that is significant to the fair value measurement.

The following table summarizes information regarding the Company’s financial assets and financial liabilities that were measured at fair value on a recurring basis:

 

                                 
          Fair Value Measurements at Reporting Date Using  

(in thousands)

   November 30,
2011		     Quoted Prices in
Active  Markets for
Identical Assets
(Level 1)		     Significant Other
Observable  Inputs
(Level 2)		     Significant
Unobservable  Inputs
(Level 3)		  

Money market investments

   $ 128,391     $ 128,391     $ —       $ —    

Derivative assets

     49,465       1,918       47,547       —    

Nonqualified benefit plan assets *

     48,680       48,680       —         —    

Derivative liabilities

     7,736       3,199       4,537       —    

Nonqualified benefit plan liabilities *

     79,239       —         79,239       —    
     
           Fair Value Measurements at Reporting Date Using  

(in thousands)

   August 31,
2011		     Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		     Significant Other
Observable Inputs
(Level 2)		     Significant
Unobservable Inputs
(Level 3)		  

Money market investments

   $ 153,839     $ 153,839     $ —       $ —    

Derivative assets

     52,858       2,329       50,529       —    

Nonqualified benefit plan assets *

     49,357       49,357       —         —    

Derivative liabilities

     5,688       2,625       3,063       —    

Nonqualified benefit plan liabilities *

     81,167       —         81,167       —    

 

* The Company provides a nonqualified benefit restoration plan to certain eligible executives equal to amounts that would have been available under tax qualified ERISA plans but for limitations of ERISA, tax laws and regulations. Though under no obligation to fund this plan, the Company has segregated assets in a trust. The plan assets and liabilities consist of securities included in various mutual funds.

 

The Company’s long-term debt is predominantly publicly held. The fair value was approximately $1.13 billion at November 30, 2011 and $1.24 billion at August 31, 2011. Fair value was determined by indicated market values.