Accumulated Other Comprehensive Income

3 Months Ended

Nov. 30, 2020

The following table sets forth the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the three months ended November 30, 2020 (in thousands):


	Foreign Currency Translation Adjustment		Derivative Instruments		Actuarial Loss		Prior Service Cost		Total
Balance as of August 31, 2020	$	(36,595)	$	(30,996)	$	34,093	$	(670)	$	(34,168)
Other comprehensive income (loss) before reclassifications	10,718		24,911		(256)		—		35,373
Amounts reclassified from AOCI	—		(15,551)		—		—		(15,551)
Other comprehensive income (loss)(1)	10,718		9,360		(256)		—		19,822
Balance as of November 30, 2020	$	(25,877)	$	(21,636)	$	33,837	$	(670)	$	(14,346)

(1)Amounts are net of tax, which are immaterial.

The following table sets forth the amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in thousands):


		Three months ended
Comprehensive Income Components	Financial Statement Line Item	November 30, 2020		November 30, 2019
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts	Cost of revenue	$	(16,368)	$	7,314
Interest rate contracts	Interest expense	817		(431)

Total amounts reclassified from AOCI(2)		$	(15,551)	$	6,883

(1)The Company expects to reclassify $14.5 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.

(2)Amounts are net of tax, which are immaterial for the three months ended November 30, 2020 and 2019.