Derivative Instruments (Tables)

12 Months Ended

Aug. 31, 2012

Fair Values of Derivative Instruments


	Asset Derivatives					Liability Derivatives
		August 31,					August 31,
		2012		2011			2012		2011
(In thousands)	Balance sheet location	Fair Value		Fair Value		Balance sheet location	Fair Value		Fair Value
Derivatives designated as hedging instruments
Foreign forward exchange contracts	Accounts receivable	$	2,703	$	–	Accounts payable and accrued liabilities	$	182	$	2,848
Interest rate swap contracts	Other assets		–		–	Accounts payable and accrued liabilities		2,861		4,386

		$	2,703	$	–		$	3,043	$	7,234

Derivatives not designated as hedging instruments
Foreign forward exchange contracts	Accounts receivable	$	141	$	–	Accounts payable and accrued liabilities	$	102	$	525

Effect of Derivative Instruments on Statement of Operations

The Effect of Derivative Instruments on the Statement of Income


Derivatives in cash flow hedging relationships	Location of gain (loss) recognized in income on derivative	Gain (loss) recognized in income on derivative Twelve months ended August 31,
		2012		2011
Foreign forward exchange contract	Interest and foreign exchange	$	371	$	(626	)


Derivatives in cash flow hedging relationships	Gain (loss) recognized in OCI on derivatives (effective portion) Twelve months ended August 31,						Location of gain (loss) reclassified from accumulated OCI into income	Gain (loss) reclassified from accumulated OCI into income (effective portion) Twelve months ended August 31,						Location of loss in income on derivative (ineffective portion and amount excluded from effectiveness testing)	Gain (loss) recognized on derivative (ineffective portion and amount excluded from effectiveness testing) Twelve months ended August 31,
	2012			2011				2012			2011				2012		2011
Foreign forward exchange contracts	$	136		$	(3,302	)	Revenue	$	(4,615	)	$	71		Interest and foreign exchange	$	1,403	$	860
Interest rate swap contracts		(153	)		(2,563	)	Interest and foreign exchange		(1,678	)		(1,808	)	Interest and foreign exchange		–		–

	$	(17	)	$	(5,865	)		$	(6,293	)	$	(1,737	)		$	1,403	$	860

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details