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Notes Payable, Long-Term Debt and Capital Lease Obligations | 9 Months Ended
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May 31, 2017
Notes Payable, Long-Term Debt and Capital Lease Obligations [Abstract] |
Notes Payable, Long-Term Debt and Capital Lease Obligations | 6. Notes Payable, Long-Term Debt and Capital Lease Obligations
| Notes payable, long-term debt and capital lease obligations outstanding at May 31, 2017 and August 31, 2016 are
summarized below (in thousands):
|  |  |  | May 31, |  | August 31, |
|  |  |  | 2017 |  | 2016 |
| 8.250% Senior Notes due 2018 | $ | 399,268 |  | $ | 398,552 |
| 5.625% Senior Notes due 2020 |  | 396,881 |  |  | 396,212 |
| 4.700% Senior Notes due 2022 |  | 496,532 |  |  | 496,041 |
| 4.900% Senior Notes due 2023 |  | 298,511 |  |  | 298,329 |
| Borrowings under credit facilities |  | 100,000 |  |  | ― |
| Borrowings under loans |  | 464,674 |  |  | 502,210 |
| Capital lease obligations |  | 27,709 |  |  | 28,478 |
| Total notes payable, long-term debt and capital lease obligations |  | 2,183,575 |  |  | 2,119,822 |
| Less current installments of notes payable, long-term debt and |  |  |  |  |  |
|  | capital lease obligations |  | 538,985 |  |  | 45,810 |
| Notes payable, long-term debt and capital lease obligations, less |  |  |  |  |  |
|  | current installments | $ | 1,644,590 |  | $ | 2,074,012 |
The $400.0 million of 8.250% senior unsecured notes, $400.0 million of 5.625% senior unsecured notes, $500.0 million of 4.700% senior unsecured notes and $300.0 million of 4.900% senior unsecured notes outstanding are carried at the principal amount of each note, less any unamortized discount and unamortized debt issuance costs. The estimated fair values of the Company's publicly traded debt, including the 8.250%, 5.625% and 4.700% senior notes, were approximately $419.1 million, $433.9 million and $531.9 million respectively, at May 31, 2017. The fair value estimates are based upon observable market data (Level 2 criteria). The estimated fair value of the Company's private debt, the 4.900% senior notes, was approximately $313.1 million, at May 31, 2017. This fair value estimate is based on the Company's indicative borrowing cost derived from discounted cash flows (Level 3 criteria). The carrying amounts of borrowings under credit facilities and under loans approximates fair value as interest rates on these instruments approximates current market rates.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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