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Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Aug. 31, 2018
Accounting Policies [Abstract] |
Components of Property, Plant and Equipment | Estimated useful lives for major classes of depreciable assets are as follows:
Asset Class | Estimated Useful Life
Buildings | Up to 35 years
Leasehold improvements | Shorter of lease term or useful life of the improvement
Machinery and equipment | 2 to 10 years
Furniture, fixtures and office equipment | 5 years
Computer hardware and software | 3 to 7 years
Transportation equipment | 3 years
Property, plant and equipment consists of the following (in thousands):
| August 31,
| 2018 |  | 2017
Land and improvements | $ | 144,136 |  |  | $ | 120,574 |
Buildings | 849,975 |  |  | 804,861 |
Leasehold improvements | 1,013,428 |  |  | 877,752 |
Machinery and equipment | 3,983,025 |  |  | 3,680,881 |
Furniture, fixtures and office equipment | 192,243 |  |  | 178,603 |
Computer hardware and software | 601,955 |  |  | 583,569 |
Transportation equipment | 17,215 |  |  | 22,080 |
Construction in progress | 42,984 |  |  | 85,748 |
| 6,844,961 |  |  | 6,354,068 |
Less accumulated depreciation and amortization | 3,646,945 |  |  | 3,125,390 |
| $ | 3,198,016 |  |  | $ | 3,228,678 |
Summary of Changes in AOCI | The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2018 (in thousands):
| Foreign Currency Translation Adjustment |  | Derivative Instruments |  | Actuarial (Loss) Gain |  | Prior Service Cost |  | Available for Sale Securities |  | Total
Balance as of August 31, 2016 | $ | 16,338 |  |  | $ | 7,784 |  |  | $ | (43,587 | ) |  | $ | 941 |  |  | $ | (21,353 | ) |  | $ | (39,877 | )
Other comprehensive income (loss) before reclassifications | 35,297 |  |  | 13,434 |  | (1) | 8,443 |  |  | 86 |  |  | 10,611 |  |  | 67,871 |
Amounts reclassified from AOCI | 5,947 |  |  | 8,749 |  | (2) | 1,929 |  | (3) | (138 | ) | (3) | 10,139 |  | (4) | 26,626 |
Other comprehensive income (loss)(5) | 41,244 |  |  | 22,183 |  |  | 10,372 |  |  | (52 | ) |  | 20,750 |  |  | 94,497 |
Balance as of August 31, 2017 | $ | 57,582 |  |  | $ | 29,967 |  |  | $ | (33,215 | ) |  | $ | 889 |  |  | $ | (603 | ) |  | $ | 54,620 |
Other comprehensive (loss) income before reclassifications | (50,151 | ) |  | 1,225 |  | (1) | 7,067 |  |  | (1,444 | ) |  | (8,679 | ) |  | (51,982 | )
Amounts reclassified from AOCI | — |  |  | (23,076 | ) | (2) | 1,127 |  | (3) | (88 | ) | (3) | — |  |  | (22,037 | )
Other comprehensive (loss) income(5) | (50,151 | ) |  | (21,851 | ) |  | 8,194 |  |  | (1,532 | ) |  | (8,679 | ) |  | (74,019 | )
Balance as of August 31, 2018 | $ | 7,431 |  |  | $ | 8,116 |  |  | $ | (25,021 | ) |  | $ | (643 | ) |  | $ | (9,282 | ) |  | $ | (19,399 | )
(1) | Represents changes in fair value of derivative instruments.
(2) | Represents reclassification of net (gains) losses realized and included in net income related to derivative instruments. $14.8 million was classified into net income as a reduction of income tax expense related to derivative instruments for the fiscal year ended August 31, 2018. The remaining amount for fiscal year 2018 and the amount for fiscal year 2017 was primarily classified as a component of cost of revenue. The Company expects to reclassify $9.0 million into earnings during the next 12 months, which will primarily be classified as a component of cost of revenue.
(3) | Amounts are included in the computation of net periodic benefit pension cost. Refer to Note 9 – “Postretirement and Other Employee Benefits” for additional information.
(4) | The portion of AOCI reclassified into earnings during the fiscal year ended August 31, 2017 for available for sale
securities was due to an other than temporary impairment on securities and was classified as a component of other expense.
(5) | Amounts are net of tax, which are immaterial.
Dilutive Shares Outstanding Not Included in the Computation of Earnings Per Share | Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):
| Fiscal Year Ended August 31,
| 2018 |  | 2017 |  | 2016
Stock appreciation rights | — |  |  | 265 |  |  | 2,381 |
Restricted stock awards | 2,426 |  |  | 4,539 |  |  | 7,599 |

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