v3.20.4
FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Nov. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional and Fair Values of All Derivative Instruments
The notional and fair values of all derivative instruments are as follows:
November 30, 2020August 31, 2020
Assets
Cash Flow Hedges
Other current assets$79,405 $75,871 
Other non-current assets50,138 50,914 
Other Derivatives
Other current assets42,697 27,964 
Total assets$172,240 $154,749 
Liabilities
Cash Flow Hedges
Other accrued liabilities$12,883 $13,614 
Other non-current liabilities12,691 13,576 
Other Derivatives
Other accrued liabilities5,428 11,828 
Total liabilities$31,002 $39,018 
Total fair value$141,238 $115,731 
Total notional value$9,367,230 $9,600,691 
Offsetting Derivative Assets and Liabilities Table
We utilize standard counterparty master agreements containing provisions for the netting of certain foreign currency transaction obligations and for the set-off of certain obligations in the event of an insolvency of one of the parties to the transaction. In the Consolidated Balance Sheets, we record derivative assets and liabilities at gross fair value. The potential effect of netting derivative assets against liabilities under the counterparty master agreements is as follows:
November 30, 2020August 31, 2020
Net derivative assets$159,030 $129,520 
Net derivative liabilities17,792 13,789 
Total fair value$141,238 $115,731