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DERIVATIVES (Tables)
 12 Months Ended
Aug. 31, 2024
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, 2024:
CommodityPositionTotal
AluminumLong1,225  MT
CopperLong624  MT
CopperShort9,321  MT
ElectricityLong3,112,000 MW(h)
Natural GasLong5,190,700 MMBtu
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MT = Metric ton
MW(h) = Megawatt hour
MMBtu = Metric Million British thermal unit
The following table summarizes activities related to the Company's derivatives not designated as hedging instruments recognized in the consolidated statements of earnings. All other activity related to the Company's derivatives not designated as hedging instruments was immaterial for the periods presented.
Year Ended August 31,
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)Primary Location202420232022
CommodityCost of goods sold$(10,195)$(3,028)$15,862 
Foreign exchangeSG&A expenses6,974 12,265 (6,547)

The following table summarizes activities related to the Company's derivatives designated as cash flow hedging instruments recognized in the consolidated statements of comprehensive income and consolidated statements of earnings. Amounts presented do not include the effects of foreign currency translation adjustments.
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI, Net of Income Taxes (in thousands)Year Ended August 31,
202420232022
Commodity$(129,709)$6,367 $138,534 
Foreign exchange31 28 100 

Gain on Derivatives Designated as Cash Flow Hedging Instruments Reclassified from AOCI into Net Earnings (in thousands)Year Ended August 31,
Primary Location202420232022
CommodityCost of goods sold$2,031 $11,325 $27,267 
Foreign exchangeSG&A expenses250 244 244 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The following table summarizes the location and amounts of the fair value of the Company's derivative instruments reported in the consolidated balance sheets:

(in thousands)Primary LocationAugust 31, 2024August 31, 2023
Derivative assets:
CommodityPrepaid and other current assets$9,823 $11,427 
CommodityOther noncurrent assets30,402 184,261 
Foreign exchangePrepaid and other current assets419 1,898 
Derivative liabilities:
CommodityAccrued expenses and other payables$3,445 $2,983 
CommodityOther noncurrent liabilities157 1,085 
Foreign exchangeAccrued expenses and other payables1,885 2,566