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Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended
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May 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair value of derivative instruments located on consolidated balance sheets | The following table presents the fair values of the Company’s derivative instruments recorded in the Condensed Consolidated Balance Sheets utilized for foreign currency risk management purposes as of May 31, 2019 and August 31, 2018 (in thousands):
| Fair Values of Derivative Instruments
| Asset Derivatives |  | Liability Derivatives
| Balance Sheet Location |  | Fair Value as of May 31, 2019(1) |  | Fair Value as of August 31, 2018(1) |  | Balance Sheet Location |  | Fair Value as of May 31, 2019(1) |  | Fair Value as of August 31, 2018(1)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Forward foreign exchange contracts | Prepaid expenses and other current assets |  | $ | 644 |  |  | $ | 225 |  |  | Accrued expenses |  | $ | 3,853 |  |  | $ | 13,364 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Forward foreign exchange contracts | Prepaid expenses and other current assets |  | $ | 5,216 |  |  | $ | 10,125 |  |  | Accrued expenses |  | $ | 26,851 |  |  | $ | 46,171 |
(1) Classified as Level 2 in the fair-value hierarchy.
Net gains from forward contracts recorded in consolidated statements of operations | The following table presents the net gains from forward contracts recorded in the Condensed Consolidated Statements of Operations for the periods indicated (in thousands):
Derivatives Not Designated as Hedging Instruments Under ASC 815 |  | Location of (Loss) Gain on Derivatives Recognized in Net Income |  | Amount of (Loss) Gain Recognized in Net Income on Derivatives
|  |  |  | Three months ended |  | Nine months ended
|  |  |  | May 31, 2019 |  | May 31, 2018 |  | May 31, 2019 |  | May 31, 2018
Forward foreign exchange contracts(1) |  | Cost of revenue |  | $ | (33,476 | ) |  | $ | (19,785 | ) |  | $ | 9,332 |  |  | $ | 25,959 |
(1) | During the three months ended May 31, 2019 and 2018, the Company recognized $28.3 million and $23.1 million, respectively, of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts. During the nine months ended May 31, 2019 and 2018, the Company recognized $24.3 million and $12.5 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains 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 May 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 |  |  | September 30, 2016 |  | June 30, 2019 |
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 $500.0 million Term Loan Facility, expiring on November 8, 2022 (the “2017 Term Loan Facility”), for which $400.0 million is hedged, and based on the three-month LIBOR for the $350.0 million Term Loan Facility, which expires on August 24, 2020 (the “2018 Term Loan Facility”).

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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