XML 40 R17.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

CREDIT ARRANGEMENTS | 3 Months Ended
--- | ---
Nov. 30, 2019
Debt Disclosure [Abstract] |
Credit arrangements | NOTE 8. CREDIT ARRANGEMENTS Long-term debt at November 30, 2019 and August 31, 2019 was as follows:
(in thousands) |  | Weighted Average Interest Rate at November 30, 2019 |  | November 30, 2019 |  | August 31, 2019
2027 Notes |  | 5.375% |  | $ | 300,000 |  |  | $ | 300,000 |
2026 Notes |  | 5.750% |  | 350,000 |  |  | 350,000 |
2023 Notes |  | 4.875% |  | 330,000 |  |  | 330,000 |
Term Loan |  | 3.624% |  | 160,125 |  |  | 210,125 |
Short-term borrowings |  | 2.403% |  | — |  |  | 3,929 |
Finance leases |  |  |  | 39,713 |  |  | 37,699 |
Other |  |  |  | 23,168 |  |  | 23,168 |
Total debt |  |  |  | 1,203,006 |  |  | 1,254,921 |
Less debt issuance costs |  |  |  | 9,846 |  |  | 10,268 |
Total amounts outstanding |  |  |  | 1,193,160 |  |  | 1,244,653 |
Less current maturities |  |  |  | 13,717 |  |  | 13,510 |
Less short-term borrowings |  |  |  | — |  |  | 3,929 |
Current maturities of long-term debt and short-term borrowings |  |  |  | 13,717 |  |  | 17,439 |
Long-term debt |  |  |  | $ | 1,179,443 |  |  | $ | 1,227,214 |
The Company had no amounts drawn under the $350.0 million revolving credit facility (the "Revolver") at November 30, 2019 and August 31, 2019. The availability under the Revolver was reduced by outstanding stand-by letters of credit of $3.0 million at November 30, 2019 and August 31, 2019. The Company also has credit facilities in Poland through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At November 30, 2019, CMCP's credit facilities totaled Polish zloty ("PLN") 275.0 million, or $70.2 million. These facilities expire in March 2022. At November 30, 2019 and August 31, 2019, no amounts were outstanding under these facilities. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees, and/or other financial assurance instruments, which totaled $1.1 million at November 30, 2019 and August 31, 2019. During the three months ended November 30, 2019 and 2018, CMCP had no borrowings and no repayments under its credit facilities. At November 30, 2019, the Company was in compliance with all covenants contained in its debt agreements. The Company's debt agreements require the Company to comply with certain non-financial and financial covenants, including an interest coverage ratio and a debt to capitalization ratio. Accounts Receivable Facilities The Company had no advance payments outstanding under the U.S. accounts receivable facility at November 30, 2019 and August 31, 2019. The Poland accounts receivable facility has a limit of PLN 220.0 million ($56.2 million at November 30, 2019). The Company had no advance payments outstanding under the Poland Program at November 30, 2019, and $3.9 million at August 31, 2019.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration