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FAIR VALUE (Tables) | 3 Months Ended
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Nov. 30, 2016
Fair Value Disclosures [Abstract] |
Financial assets and financial liabilities measured at fair value on a recurring basis | The following tables summarize information regarding the Company's financial assets and financial liabilities that were measured at fair value on a recurring basis:
|  |  |  | Fair Value Measurements at Reporting Date Using
(in thousands) |  | November 30, 2016 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |
Money market investments (1) |  | $ | 385,371 |  |  | $ | 385,371 |  |  | $ | — |  |  | $ | — |
Commodity derivative assets (2) |  | 197 |  |  | 108 |  |  | 89 |  |  | — |
Foreign exchange derivative assets (2) |  | 4,650 |  |  | — |  |  | 4,650 |  |  | — |
Liabilities: |  |  |  |  |  |  |  |
Commodity derivative liabilities (2) |  | 3,211 |  |  | 3,211 |  |  | — |  |  | — |
Foreign exchange derivative liabilities (2) |  | 1,858 |  |  | — |  |  | 1,858 |  |  | — |
|  |  |  | Fair Value Measurements at Reporting Date Using
(in thousands) |  | August 31, 2016 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |
Money market investments (1) |  | $ | 278,759 |  |  | $ | 278,759 |  |  | $ | — |  |  | $ | — |
Commodity derivative assets (2) |  | 588 |  |  | 584 |  |  | 4 |  |  | — |
Foreign exchange derivative assets (2) |  | 2,148 |  |  | — |  |  | 2,148 |  |  | — |
Liabilities: |  |  |  |  |  |  |  |
Commodity derivative liabilities (2) |  | 122 |  |  | 117 |  |  | 5 |  |  | — |
Foreign exchange derivative liabilities (2) |  | 2,063 |  |  | — |  |  | 2,063 |  |  | — |
_________________ (1) Money market investments are short-term in nature, and the value is determined by broker quoted prices in active markets. The investment portfolio mix can change each period based on the Company's assessment of investment options. (2) Derivative assets and liabilities classified as Level 1 are commodity futures contracts valued based on quoted market prices in the London Metal Exchange or New York Mercantile Exchange. Amounts in Level 2 are based on broker quotes in the over-the-counter market. Further discussion regarding the Company's use of derivative instruments and the classification of the assets and liabilities is included in Note 9, Derivatives and Risk Management.
Financial assets and liabilities not required to be measured at fair value | The carrying values and estimated fair values of the Company's financial assets and liabilities that are not required to be measured at fair value on the condensed consolidated balance sheets were as follows:
|  |  |  | November 30, 2016 |  | August 31, 2016
(in thousands) |  | Fair Value Hierarchy |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
2023 Notes (1) |  | Level 2 |  | $ | 330,000 |  |  | $ | 334,643 |  |  | $ | 330,000 |  |  | $ | 332,010 |
2018 Notes (1) |  | Level 2 |  | 407,718 |  |  | 428,805 |  |  | 408,874 |  |  | 432,303 |
2017 Notes (1) |  | Level 2 |  | 301,858 |  |  | 303,093 |  |  | 302,601 |  |  | 311,250 |
_________________ (1) The fair value of the notes is determined based on indicated market values.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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