Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2021

Accounting Policies [Abstract]

Allowance for Doubtful Accounts

Accounts receivable - Accounts receivable consists of receivables from customers and receivables from related parties (see Note 16 - Related Party Transactions) and is stated net of allowance for doubtful accounts of $2.4 million and $2.7 million as of August 31, 2021 and 2020, respectively.

	As of August 31,
(In thousands)	2021			2020			2019
Allowance for doubtful accounts
Balance at beginning of period	$	2,670		$	2,176		$	2,701
Additions, net of reversals		613			1,661			773
Usage		(835	)		(1,291	)		(1,311	)
Currency translation effect		(40	)		124			13
Balance at end of period	$	2,408		$	2,670		$	2,176

Estimated Useful Lives

Depreciation is provided on the straight-line method over estimated useful lives which primarily are as follows:

	Depreciable Life
Buildings and improvements	10 - 30 years
Machinery and equipment	3 - 20 years
Other	3 - 7 years

Components of Accumulated Other Comprehensive Loss, Net of Tax

Accumulated other comprehensive loss – Accumulated other comprehensive loss, net of tax as appropriate, consisted of the following:

(In thousands)	Unrealized Gain (Loss) on Derivative Financial Instruments			Foreign Currency Translation Adjustment			Other			Accumulated Other Comprehensive Loss
Balance, August 31, 2020	$	(11,970	)	$	(39,816	)	$	(1,031	)	$	(52,817	)
Other comprehensive income (loss) before reclassifications		(394	)		3,995			524		$	4,125
Amounts reclassified from accumulated other    comprehensive loss		4,979			—			—		$	4,979
Balance, August 31, 2021	$	(7,385	)	$	(35,821	)	$	(507	)	$	(43,713	)

Amounts Reclassified out of Accumulated Other Comprehensive Loss

The amounts reclassified out of Accumulated other comprehensive loss into the Consolidated Statements of Income, with the financial statement caption, were as follows:

	Year Ended August 31,
(In thousands)	2021			2020			Financial Statement Caption
(Gain) loss on derivative financial instruments:
Foreign exchange contracts	$	1,408		$	2,984		Revenue and Cost of revenue
Interest rate swap contracts		5,261			2,657		Interest and foreign exchange
		6,669			5,641		Total before tax
		(1,690	)		(1,466	)	Tax expense
	$	4,979		$	4,175		Net of tax

Interest and Foreign Exchange

Interest and foreign exchange - Interest and foreign exchange includes foreign exchange transaction gains and losses, amortization of loan fee expense, accretion of debt discounts and external interest expense.

	Years ended August 31,
(In thousands)	2021			2020		2019
Interest and foreign exchange:
Interest and other expense	$	44,655		$	42,386	$	32,260
Foreign exchange (gain) loss		(1,392	)		1,233		(1,348	)
	$	43,263		$	43,619	$	30,912