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Accumulated Other Comprehensive (Loss) Income (Tables)
6 Months Ended
Feb. 28, 2021
Equity [Abstract]  
Summary of Changes in Accumulated Other Comprehensive Income
The following table sets forth the changes in accumulated other comprehensive (loss) income (“AOCI”), net of tax, by component for the six months ended February 28, 2021 (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 11,004  56,235  (256) —  66,983 
Amounts reclassified from AOCI —  (37,085) —  —  (37,085)
Other comprehensive income (loss)(1)
11,004  19,150  (256) —  29,898 
Balance as of February 28, 2021
$ (25,591) $ (11,846) $ 33,837  $ (670) $ (4,270)
(1)Amounts are net of tax, which are immaterial.
Summary of Reclassification from AOCI 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 Six months ended
Comprehensive Income Components Financial Statement Line Item February 28, 2021 February 29, 2020 February 28, 2021 February 29, 2020
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts Cost of revenue $ (22,344) $ (3,117) $ (38,712) $ 4,197 
Interest rate contracts Interest expense 810  (431) 1,627  (862)
Total amounts reclassified from AOCI(2)
$ (21,534) $ (3,548) $ (37,085) $ 3,335 
(1)The Company expects to reclassify $4.7 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 and six months ended February 28, 2021 and February 29, 2020.