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DERIVATIVES (Tables) | 12 Months Ended
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Aug. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Commodity Contract Commitments | The following table provides information regarding the Company's commodity contract commitments as of August 31, 2022:
Commodity |  | Long/Short |  | Total
Aluminum |  | Long |  | 3,700 |  |  | MT
Aluminum |  | Short |  | 1,700 |  |  | MT
Copper |  | Long |  | 635 |  |  | MT
Copper |  | Short |  | 9,310 |  |  | MT
Electricity |  | Long |  | 1,676,000 |  |  | MW(h)
Natural Gas |  | Long |  | 4,850,300 |  |  | MMBtu
__________________________________ MT = Metric Ton MW(h) = Megawatt hour MMBtu = Metric Million British thermal unit The following tables summarize activities related to the Company's derivative instruments and hedged items recognized in the consolidated statements of earnings. All other activity related to the Company's derivative instruments and hedged items was immaterial for the periods presented.
|  |  |  | Year Ended August 31,
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands) |  | Primary Location |  | 2022 |  | 2021 |  | 2020
Commodity |  | Cost of goods sold |  | $ | 15,862 |  |  | $ | (18,035) |  |  | $ | (5,963) |
Foreign exchange |  | SG&A expenses |  | (6,547) |  |  | (3,674) |  |  | 220 |
|  | Year Ended August 31,
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Loss (in thousands) |  | 2022 |  | 2021 |  | 2020
Commodity |  | $ | 138,534 |  |  | $ | 35,392 |  |  | $ | (12,136) |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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