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Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
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.