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DERIVATIVES (Tables)

6 Months Ended

Feb. 29, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity contract commitments

The following table provides information regarding the Company's commodity contract commitments at February 29, 2020:

Commodity

Long/Short

Total

Aluminum

Long

2,100

MT

Copper

Long

318

MT

Copper

Short

5,454

MT

Electricity

Long

2,000,000

MW(h)

_________________

MT = Metric Ton

MW(h) = Megawatt hour

Derivatives not designated as hedging instruments

The following table summarizes activity related to the Company's derivative instruments not designated as hedging instruments recognized in the condensed consolidated statements of earnings. All other activity related to the Company's derivative instruments and hedged items was immaterial for the periods presented. 

												Three Months Ended																		Six Months Ended
Derivatives Not Designated as Hedging Instruments (in thousands)						Location						February 29, 2020						February 28, 2019						February 29, 2020						February 28, 2019
Commodity						Cost of goods sold						$	1,731					$	(2,425)					$	416					$	(3,265)
Foreign exchange						SG&A expenses						(21)						(526)						20						(400)
Gain (loss) before income taxes												$	1,710					$	(2,951)					$	436					$	(3,665)

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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