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DERIVATIVES (Tables)

9 Months Ended

May 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commodity contract commitments

The following table provides information regarding the Company's commodity contract commitments at May 31, 2022:

Commodity

Long/Short

Total

Aluminum

Long

3,300

MT

Aluminum

Short

1,525

MT

Copper

Long

975

MT

Copper

Short

8,482

MT

Electricity

Long

1,717,000

MW(h)

Natural Gas

Long

4,870,250

MMBtu

_________________ 

MT = Metric Ton

MW(h) = Megawatt hour

MMBtu = Metric Million British thermal unit

Derivative instruments, gain (loss)

The following tables summarize activities related to the Company's derivative instruments and hedged items 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 May 31,												Nine Months Ended May 31,
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)						Primary Location						2022						2021						2022						2021
Commodity						Cost of goods sold						$	2,042					$	(7,921)					$	2,574					$	(24,535)
Foreign exchange						SG&A expenses						6,157						1,915						(2,886)						75

Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Recognized in Accumulated Other Comprehensive Loss (in thousands)						Three Months Ended May 31,												Nine Months Ended May 31,
						2022						2021						2022						2021
Commodity						$	25,920					$	12,167					$	81,285					$	20,971

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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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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