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DERIVATIVES AND RISK MANAGEMENT (Tables) | 12 Months Ended
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Aug. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives Not Designated as Hedging Instruments | The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the consolidated statements of earnings:
|  |  |  | Year Ended August 31,
Derivatives Not Designated as Hedging Instruments (in thousands) |  | Location |  | 2016 |  | 2015 |  | 2014
Commodity |  | Cost of goods sold |  | $ | 2,675 |  |  | $ | 7,746 |  |  | $ | 2,504 |
Foreign exchange |  | Net sales |  | (4 | ) |  | 3,016 |  |  | 473 |
Foreign exchange |  | Cost of goods sold |  | 19 |  |  | 4,996 |  |  | (1,078 | )
Foreign exchange |  | SG&A expenses |  | 11,732 |  |  | 23,105 |  |  | (4,135 | )
Gain (loss) before income taxes |  |  |  | $ | 14,422 |  |  | $ | 38,863 |  |  | $ | (2,236 | )
Derivatives Designated as Fair Value Hedging Instruments |
Derivatives Designated as Fair Value Hedging Instruments (in thousands) |  |  |  | Year Ended August 31,
| Location |  | 2016 |  | 2015 |  | 2014
Foreign exchange |  | Net sales |  | $ | (39 | ) |  | $ | (105 | ) |  | $ | 93 |
Foreign exchange |  | Cost of goods sold |  | (1,072 | ) |  | 881 |  |  | (1,465 | )
Gain (loss) before income taxes |  |  |  | $ | (1,111 | ) |  | $ | 776 |  |  | $ | (1,372 | )
Hedged Items Designated as Fair Value Hedging Instruments |
Hedged Items for Derivatives Designated as Fair Value Hedging Instruments (in thousands) |  |  |  | Year Ended August 31,
| Location |  | 2016 |  | 2015 |  | 2014
Foreign exchange |  | Net sales |  | $ | 39 |  |  | $ | 105 |  |  | $ | (91 | )
Foreign exchange |  | Cost of goods sold |  | 1,072 |  |  | (881 | ) |  | 1,469 |
Gain (loss) before income taxes |  |  |  | $ | 1,111 |  |  | $ | (776 | ) |  | $ | 1,378 |
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) |
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Income (Loss) (in thousands) |  | August 31,
| 2016 |  | 2015 |  | 2014
Commodity |  | $ | (204 | ) |  | $ | (635 | ) |  | $ | (54 | )
Foreign exchange |  | 1,822 |  |  | (1,832 | ) |  | (1,794 | )
Gain (loss), net of income taxes |  | $ | 1,618 |  |  | $ | (2,467 | ) |  | $ | (1,848 | )
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Income (Loss) |
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Reclassified from Accumulated Other Comprehensive Loss (in thousands) |  |  |  | Year Ended August 31,
| Location |  | 2016 |  | 2015 |  | 2014
Commodity |  | Cost of goods sold |  | $ | (493 | ) |  | $ | (665 | ) |  | $ | (160 | )
Foreign exchange |  | Net sales |  | (380 | ) |  | 124 |  |  | (213 | )
Foreign exchange |  | Cost of goods sold |  | 2,283 |  |  | (2,774 | ) |  | (1,717 | )
Foreign exchange |  | SG&A expenses |  | 291 |  |  | 76 |  |  | 53 |
Interest rate |  | Interest expense |  | 532 |  |  | 532 |  |  | 532 |
Gain (loss) before income taxes |  |  |  | 2,233 |  |  | (2,707 | ) |  | (1,505 | )
Income tax (expense) benefit |  | Income taxes |  | (496 | ) |  | 949 |  |  | 237 |
Gain (loss), net of income taxes |  |  |  | $ | 1,737 |  |  | $ | (1,758 | ) |  | $ | (1,268 | )
Derivative Assets | The fair value of the Company's derivative instruments on the consolidated balance sheets was as follows:
Derivative Assets (in thousands) |  | August 31,
| 2016 |  | 2015
Commodity — designated for hedge accounting |  | $ | 4 |  |  | $ | 19 |
Commodity — not designated for hedge accounting |  | 584 |  |  | 846 |
Foreign exchange — designated for hedge accounting |  | 1,398 |  |  | 1,500 |
Foreign exchange — not designated for hedge accounting |  | 750 |  |  | 3,088 |
Derivative assets (other current assets)* |  | $ | 2,736 |  |  | $ | 5,453 |
Derivative Liabilities |
Derivative Liabilities (in thousands) |  | August 31,
| 2016 |  | 2015
Commodity — designated for hedge accounting |  | $ | 5 |  |  | $ | 129 |
Commodity — not designated for hedge accounting |  | 117 |  |  | 537 |
Foreign exchange — designated for hedge accounting |  | 902 |  |  | 874 |
Foreign exchange — not designated for hedge accounting |  | 1,161 |  |  | 1,263 |
Derivative liabilities (accrued expenses and other payables)* |  | $ | 2,185 |  |  | $ | 2,803 |
_________________________ * Derivative assets and liabilities do not include the hedged items designated as fair value hedges.

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- Definition Tabular disclosure for the underlying items in fair value hedges of (a) the location and amount of gains and losses reported in the statements of financial performance and/or(b) the location and fair value amounts of the instruments reported in the statements of financial position. + References No definition available. + Details
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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 + Details
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