Accumulated Other Comprehensive Loss

12 Months Ended

Aug. 31, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Note 9 – Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, are as follows as of August 31, 2019, 2018 and 2017 (in thousands):

	Foreign Currency Translation Adjustments			Pension Obligations, net			Total
Balance as of September 1, 2016	$	(34,539	)	$	(5,576	)	$	(40,115	)
Other comprehensive income before reclassifications		2,711			1,477			4,188
Income tax expense		—			(194	)		(194	)
Other comprehensive income before reclassifications, net of tax		2,711			1,283			3,994
Amounts reclassified from accumulated other comprehensive loss		—			851			851
Income tax benefit		—			(23	)		(23	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			828			828
Net periodic other comprehensive income		2,711			2,111			4,822
Balance as of August 31, 2017		(31,828	)		(3,465	)		(35,293	)
Other comprehensive (loss) income before reclassifications		(2,301	)		64			(2,237	)
Income tax benefit		—			172			172
Other comprehensive (loss) income before reclassifications, net of tax		(2,301	)		236			(2,065	)
Amounts reclassified from accumulated other comprehensive loss		—			536			536
Income tax benefit		—			(415	)		(415	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			121			121
Net periodic other comprehensive (loss) income		(2,301	)		357			(1,944	)
Balance as of August 31, 2018		(34,129	)		(3,108	)		(37,237	)
Other comprehensive loss before reclassifications		(1,560	)		(326	)		(1,886	)
Income tax benefit		—			65			65
Other comprehensive loss before reclassifications, net of tax		(1,560	)		(261	)		(1,821	)
Amounts reclassified from accumulated other comprehensive loss		—			369			369
Income tax benefit		—			(74	)		(74	)
Amounts reclassified from accumulated other comprehensive loss, net of tax		—			295			295
Net periodic other comprehensive (loss) income		(1,560	)		34			(1,526	)
Balance as of August 31, 2019	$	(35,689	)	$	(3,074	)	$	(38,763	)

In the second quarter of fiscal 2018, the Company adopted an accounting standard update that allowed for a reclassification from accumulated other comprehensive income (AOCI) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (“Tax Act”) enacted on December 22, 2017. Reclassifications from AOCI to retained earnings for stranded tax effects during the year ended August 31, 2018, both individually and in the aggregate, were not material.

Reclassifications from AOCI to earnings, both individually and in the aggregate, were not material to the impacted captions in the Consolidated Statements of Income in all periods presented.