Derivative Instruments (Tables)

12 Months Ended

Aug. 31, 2017

Fair Values of Derivative Instruments

Fair Values of Derivative Instruments

	Asset Derivatives					Liability Derivatives
		August 31,					August 31,
		2017		2016			2017		2016
(In thousands)	Balance sheet caption	Fair Value		Fair Value		Balance sheet caption	Fair Value		Fair Value
Derivatives designated as hedging instruments
Foreign forward exchange contracts	Accounts receivable, net	$	2,341	$	1,570	Accounts payable and accrued liabilities	$	1,761	$	4,287
Interest rate swap contracts	Intangibles and other assets, net		–		–	Accounts payable and accrued liabilities		1,125		3,157
		$	2,341	$	1,570		$	2,886	$	7,444
Derivatives not designated as hedging instruments
Foreign forward exchange contracts	Accounts receivable, net	$	1,473	$	25	Accounts payable and accrued liabilities	$	–	$	22

Effect of Derivative Instruments on Consolidated Statements of Income

The Effect of Derivative Instruments on the Consolidated Statements of Income

Derivatives in cash flow hedging relationships	Financial statement caption of gain recognized in income on derivative	Gain recognized in income on derivatives Years ended August 31,
		2017		2016
Foreign forward exchange contract	Interest and foreign exchange	$	3,207	$	336
Interest rate swap contracts	Interest and foreign exchange		23		90
		$	3,230	$	426

Derivatives in cash flow hedging relationships	Gain (loss) recognized in OCI on derivatives (effective portion) Years ended August 31,					Financial statement caption of gain (loss) reclassified from accumulated OCI into income	Gain (loss) reclassified from accumulated OCI into income (effective portion) Years ended August 31,						Financial statement caption of gain (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) Years ended August 31,
	2017		2016				2017			2016				2017			2016
Foreign forward exchange contracts	$	1,746	$	(4,698	)	Revenue	$	(3,980	)	$	(1,224	)	Revenue	$	(2,843	)	$	138
Foreign forward exchange contracts		385		(944	)	Cost of revenue		336			(911	)	Cost of revenue		248			121
Interest rate swap contracts		1,042		(2,354	)	Interest and foreign exchange		(1,057	)		(1,561	)	Interest and foreign exchange		–			–
	$	3,173	$	(7,996	)		$	(4,701	)	$	(3,696	)		$	(2,595	)	$	259