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Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended
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Aug. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Net Gains from Forward Contracts Recorded in Consolidated Statements of Operations | The following table presents the net losses from forward contracts recorded in the Consolidated Statements of Operations for the periods indicated (in thousands):
Derivatives Not Designated as Hedging Instruments Under ASC 815 |  | Location of Loss on Derivatives Recognized in Net Income |  | Amount of Loss Recognized in Net Income on Derivatives
|  |  |  | Fiscal Year Ended August 31
|  |  |  | 2019 |  | 2018 |  | 2017
Forward foreign exchange contracts(1) |  | Cost of revenue |  | $ | (29,557 | ) |  | $ | (27,774 | ) |  | $ | (95,665 | )
(1) | For the fiscal years ended August 31, 2019, 2018, and 2017, the Company recognized $14.9 million, $36.7 million, and $90.3 million, respectively, of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts.
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table presents the interest rate swaps outstanding as of August 31, 2019, which have been designated as hedging instruments and accounted for as cash flow hedges:
Interest Rate Swap Summary | Hedged Interest Rate Payments |  | Aggregate Notional Amount (in millions) |  | Effective Date |  | Expiration Date (1) |
Forward Interest Rate Swap |  |  |  |  |  |  |  |
Anticipated Debt Issuance | Fixed |  | $ | 200.0 |  |  | October 22, 2018 |  | December 15, 2020 | (2)
Interest Rate Swaps(3) |  |  |  |  |  |  |  |
2017 Term Loan Facility | Variable |  | $ | 200.0 |  |  | October 11, 2018 |  | August 31, 2020 |
2018 Term Loan Facility | Variable |  | $ | 350.0 |  |  | August 24, 2018 |  | August 24, 2020 |
(1) | The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap and at each settlement date for the interest rate swaps.
(2) | If the anticipated debt issuance occurs before December 15, 2020, the contracts will be terminated simultaneously with the debt issuance.
(3) | The Company pays interest based upon a fixed rate as agreed upon with the respective counterparties and receives variable rate interest payments based on the one-month LIBOR for the 2017 Term Loan Facility and the three-month LIBOR for the 2018 Term Loan Facility.

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