Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2014

Schedule of Error Corrections and Prior Period Adjustments

The effect of the revision on the line items within the Company’s consolidated statement of cash flows for the year ended August 31, 2013 is as follows (in thousands):



	Year Ended August 31, 2013
	As Reported			Adjustments			As Revised
Investing Activities
Purchase of noncontrolling interest	$	(24,734	)	$	24,734		$	—
Net cash used in investing activities	(137,184		)	24,734			(112,450		)

Financing Activities
Purchase of noncontrolling interest	—			(24,734		)	(24,734		)
Net cash provided by (used in) financing activities	20,587			(24,734		)	(4,147		)

Property, Plant and Equipment

As of August 31, 2014, the useful lives used for depreciation and amortization were as follows:



	Useful Life (In Years)
Machinery and equipment	3 to 40
Land improvements	3 to 35
Buildings and leasehold improvements	5 to 40
Office equipment	2 to 20
Enterprise Resource Planning (“ERP”) systems	11 to 17

Property, plant and equipment, net consisted of the following as of August 31 (in thousands):



	2014			2013
Machinery and equipment	$	714,636		$	696,776
Land and improvements	261,447			251,793
Buildings and leasehold improvements	123,869			114,313
Office equipment	50,148			47,995
ERP systems	15,056			15,246
Construction in progress	18,149			36,292
Property, plant and equipment, gross	1,183,305			1,162,415
Less: accumulated depreciation	(659,872		)	(597,989		)
Property, plant and equipment, net	$	523,433		$	564,426

Schedule of Asset Impairments

The following impairment charges were recorded within other asset impairment charges in the Consolidated Statements of Operations for the years ended August 31 (in thousands):



	2014		2013
Investment in joint venture partnership	$	—	$	2,411
Contractual receivable	—		7,803
Assets held for sale	928		2,526
Other	532		313
Total	$	1,460	$	13,053

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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